johnson long. >> sds. >> wild options, go long facebook. >> pbr a lot of call buying might have good news over the weekend. >> you know the show ends at 1:00. see you for "money in motion." "power" begins now. >> halftime is over, "poufr lunch" and the second half of the trading day starts now. >> judge wapner thank you very much. key statements coming out of a mini european summit ahead of another meeting next week. here's my prescription, less summits, less meetings, more action. the goal, avoid europlosion but can they do it? this is yesterday's intersomeday chart showing the steep and steady slide before the moody's downgrade came out, but today a different story, talking about the turnaround and what you should do with your money before the weekend. i say go to the cash machine and

take some out. and soccernomics, one of the great little, delicious ironies, germany versus greece, in about two ours in the euro 2012 tourney. will the economic and political problems show up on the field? we have one of the sport's most prolific journalists on hand to talk about that and more. but first sue picks it up at the new york stock exchange. >> tyler, good to see you. after the moody's downgrades, wall street is snapping out of a funk. the dow jones industrial average holding its own on a friday in today's trading session, up 45 points, s&p is up about 4.5, the nasdaq is up 0.6% or 19 points. gold after a big move yesterday of course was all over the map this morning, it's up $1.50 and west texas intermediate is up $1.52. financials today after the downgrade yesterday, citigroup, bank of america, jpmorgan chase on the plus side. goldman sachs down about a half

a percent. wells fargo which was not involved in the downgrade by moody's yesterday is up almost 1.25%. one reason for the uptick is that there's no terrible news today at least from the eurozone, eu finance ministers holding that mini summit today ahead of the bigger meeting next week. simon hobbs is here. good to see you, simon. break it down for us because there were a lot of different headlines from all the major ministers out there. >> yes, heads of state is what we're focused on is the four heads of state meeting in rome today and we have a problem and let me explain to you why that is. the game that they're playing, the way they think they can calm the markets is the end of next week, thursday and friday when the 27 leaders get together they will effectively come up with a grand plan to be more fiscally integrated so they discipline each other's budgets more, it's driven by germany and then they think the euro bonds or banking union could come after that. the major problem we have now is, as the summit that you see there broke up, you have the president of france saying this, there can be no transfer of

sovereignty if there's not an improvement in solidarity. let me translate that for you. he's putting a shot across the beau of angela merkel we'll not go further into a fiscal union with you unless you give us euro bonds. if the french and the germans cannot hammer this out, and this is huge, by the summit next thursday or friday they will have painted themselves into a corner and they cannot deliver what they said for the markets. the markets might go, we don't care, just sort out some money to come into the spanish and italian bond markets but on their terms they will have failed potentially. this is very big. >> before we get to the bigger conversation, do you think they will be able to sort it out? >> no, i don't. there are noises they won't get any movement there until december. my question is how the market will react to that, they set the timetable, they set the agenda. does the market care about fiscal union? no. it cares about euro bonds and the buying of spanish and italian debt. if they can give the market

something on that well and good. if not we may have a problem. >> there was a 1% growth initiative put out by the ministers and that was interesting. steve liesman is here now. you've been looking at growth across the eurozone. why is today's plan and that 1% figure so important? >> i think it shows that it's small but it's an important reversal of policy. if you think about the european economy, sue, they've been in recession essentially since december and if you look at what's happened over the past several months, the economic outlook, the forecasts have gone down so people think it's going to get worse with no particular optimism on the continent, and the problem has always been how do you get out of these problems, a debt spiral. if you're going to do austerity in the middle of that it will make things worse for the national government. the issue has become they've reversed policy, sue, and they thought austerity was the way back to growth and they're in a limited way -- remember, this is a fraction of what our stimulus plan was here and they're going to do a small part of that, and

it's going in the right direction according to some economists. >> that's the way the market seems to be taking it as well. ty, over to you. >> sue, there are shoes to drop, there are cans to be kicked, choose your cliche. tyler vernon, how do i invest based on what might well happen in europe? >> you need to take advantage of the opportunity out there. bank we really like, a brazilian bank, a typical example of the baby being thrown out with the bath water, banco santander. this is owned by a spanish company but a subsidiary that trades on the new york, and it's doing very well, 5.5% dividend for a bank that's a lot of money. doesn't have exposure to europe so we like that. >> the chart we just saw was that of the spanish parent that trades in the u.s., the chart we just saw of santander? can we show it again please? there we go.

>> bsbr. >> bsbr, down 32% this year. tyler, tyler. i'm losing money here, man. >> that's why you want to step in and buy, presenting a great opportunity, and we think anheuser-busch is another one. >> beer. i say beer. b-u-d. >> not a bad place. sports are coming up, this is an international type of company doing very well, continues to grow its dividend. >> drown your sorrows, drink some beer you euros. >> if tyler is right about santander maybe you'll be toasting. if not you'll need the beer for solace. thanks, guys. the oil market is down more than 20% in the last two months and today the world bank released its estimate on what would happen to the global economy if we got an oil shock, a big $25 a barrel increase. that report says metals prices would jump 9%, food prices 4% to 6%, and that would, in turn,

shave a half a percentage point off of global growth and output. ty? >> all right, thanks very much. for the second week in a row, a storm is brewing down in the gulf of mexico. its name? it seems so innocent, her name is debby, regardless of whether it fully develops it will bring heavy rains and high winds and surf to the gulf coast of florida. if it impacts the oil industry we are going to follow it closely. right now light sweet crude, it's light, it's sweet, it's crude. it's at $79.67, a nearly 2% gain in just a day. brent is at $91.29 or $2 higher, 2.3% gain on the day. courtney reagan is live at nymex. >> hi, tyler. they're not making any moves ahead of it, but it is the summer t is june, they'll pay attention to anything.

nearing 80 but again still holding on to the seven handle, key psychologically going into the weekend. the reason a lot of traders are doing short covering and it's a summer friday. they don't want to be caught being too low ahead of that weekend so that's some of the reason but the spike initially this morning came after we heard that the ecb was going to relax some of those collateral rules and since then we've been climbing higher ever since but we're still in the downward trend when we talk about energy prices, brent also on track for the biggest weekly loss in about 13 weeks, despite some of the gains that we've made today, we did rebound off of 18-month lows for brent, and if you take a look at rbob gasoline, it's important to consumers spreading the summer season driving trips $3.40 avera $3.45 average so the prices are continuing lower. but a storm could change all of that quickly. >> thank you very much. let's focus on darden, the owner

of the olive garden, red lobster chains. results in line with estimates but the stock is off 1%. the company is forecasting 2013 earnings will be below analyst expectations. the stock is being hit. it is up 3.25% for the year. today is a different story. jane wells, live in los angeles, i thought this was the neverending salad bowl. >> sue, apparently the profit margins are good but not selling enough salad, not making a lot of lettuce as much as people expected. i got the report says darden is disappointed and it will have ramifications throughout most of the full service dining universe including brinker, texas roadhouse, buffalo wild wings and the cheesecake factory. "the comp. falloff was more than we had anticipated." when the price of gas drops lower than a burrito bowl, do you buy more burrito bowl?

barge of america/merrill lynch has this, fast cash are doing better an darden's olive gardens a"tradedown likely occurred." another worrying sign, unemployment and underemployment tick back up in may, restaurant hiring is growing, that's a good sign though it's growing at its slowest rate since last summer but lower food costs should half. mer hill says half the food commodities are down double digits from a year ago and darden's margins came in above consensus. sonic and garden, sonic reported this week, consumer research says "while sonic's sales are booming, those at darden restaurants appear to be flagging." sonic is more fast food than fast casual and a look, burger king started trading this week, what do all these firms have in common? bacon, i say, and guys, bacon prices are also coming down. that's good, if you don't care about your caloric intake, like

me sometimes. >> never met a piece of bacon i didn't like, quite obviously, jane. in and out burger the best, no doubt. >> i do love in and out but if you're a real like i am, i'm partial to tommy bufferingers, it's a huge debate. >> don't know tommy. tyler vernon let's talk about fast versus fast casual, which do you like and why? >> generally we like the fast, general fast part because in a slowing economy, we're seeing all over, people want to trade down, want to go in the lower priced brands so we like -- >> you're fun, last time it was budweiser, drink your sorrows away and now it's eat yourself silly. >> we like yum! and the kfc brand is doing great in china. there's lots of wedding receptions going on at the kfcs in china. >> no kidding. >> it's huge over there.

zagats rated their fried chicken number one. >> i did not know that. >> you know now. >> yum! brands on that alone i'd like to buy yum! and you also like darden. >> they got a bad rap based on same-store sales, bringing in a lot of new stores as well, in the lower priced commodity world which we're in now and i think that will help the company, well run and with a new dividend a floor is going to go in on the stock. >> i know sue can't hear me, when your daughter's wedding receptions come. >> good budget wedding. >> taco bell, kfc. >> my husband would be happy, it would be cheaper. >> let's check in with brian shactman. >> i asked my daughter go any restaurant for her 6th birthday, picked mcdonald's. unbelievable choice. facebook, talked about going long facebook, the stock is up 28% since its all-time low of

$25.52 june the 6th. if you expand it out a one month you see the comeback it's made since those lows. nomura initiating it yesterday with a buy with a $40 price target. back to you. >> thank you very much. next up, germany versus greece, and not in the euro bond market, not in the economic b . battlefields but on the soccer field. the two play today. one of the top soccer writers in the world is our guest next. before the break, german bonds versus greek bonds and five big movers.

welcome back to "power lunch. "breaking news on delta, kate is at the news desk with details >> thanks so much. delta airlines deal to purchase a refinery near philadelphia, pennsylvania, is closing as of today, we understand. the trainer refinery delta agreed to purchase for $180 million, $30 million in the form of state subsidies from pennsylvania appears to be close toing closing as we speak. the delta agreement seeks to tamp down the cost of jet fuel which has become 36% of the company's costs as of last year, due to refining their own crude

and expect to do 52,000 barrels a day which could be coming on line as early as september and swap agreements with bp and conoco, two of their partners in this deal. they seem to be enthused about it and as a matter of fact the marketplace while having mixed feelings about it is showing pass activity. fitch ratings speaking of downgrades which we talked about in the last day, fitch upgraded delta a couple of notches saying, among other things, that they think this jet fuel deal is an innovative one and one that may help to control costs. that's an interesting angle on it. >> thank you very much, kate kelly, the stock is down about 1% today but that may not be related to the news at all. thanks very much, kate. poker as you may know is very big in the hedge fund world. now greenlight capital david einhorn entered next month's $1 million buy-in tournament at the world series of poker. all the profits he makes go to charity. einhorn finished 18th back in

2006. the winner of this tourney will win at least $16.4 million. don't we wish, ty, don't we wish. >> sounds good. the second game in the quarterfinals of the european soccer championship is today at 2:45. you can find it somewhere, i'm sure on cable. as far as the european financial crisis is concerned, you couldn't have picked a more dramatic match-up. germany versus greece, merkel, austerity versus growth. the greeks have not fared well against germany in their history, playing eight times, losing five, drawing three, they've never won. the oddsmakers do not give greece much of a chance today either, but don't forget, greece pulled one of the biggest upsets ever, simon cooper, one of the most prolific authors on all things soccer, see some of his titles "soccer against the enemy," "soccer men" and

"soccernomics," greece pulled one of the greatest upsets in 2004, they won it all, right? >> even they couldn't believe it. i remember i was there in lisbon, and greeks holding their eyes with disbelief afterwards, they won the european championship as the least favored team there. i don't think that's going to happen this year, by the way. >> don't think that's going to happen today. now, let's talk a little bit about the political undertones of this match, and how politics sometimes does get played out on the pitch or on the field, just in the past couple of weeks, poland and russia had a match and fans got rowdy and it was a very chippy match. might we expect to see anything of that sort today? >> i think less so. there's a lot of greek public anger against germans, they feel german its told them which party to vote for. the players are professional. lot of the greek players speak

german, greek soccer has learned so much from germany. you could see greece is germany's model pupil although not in economics. on the field it will be friendly, back home in greece, different story. >> what about in the stands, simon? these matches are being played in the ukraine. i'm sure there are german fans there, there may not be many greek fans but do either fan groups have a reputation for rowdiness particularly? >> not so much. this game is in poland and it's the first game the german chancellor, angela merckle is going to attend. not sure whether the new greek prime minister samaras will be there. if they are it will be a poignant moment. >> that is true t will be a poignant moment if merkel and samaras are there for the match. simon, pick who do you think will come out on top in the euro

2012. >> spain has been the best team in the world for the last four years. the question is now whether their dominance is waning and if so, it would be germany. germany could become the top dog in soccer. lot of people are betting on that this time around. >> sue? >> my husband's been glued to that tournament, ty, we'll see what happens. coming up next, though, tyler vernon is going to rejoin us and dig down on the biggest analyst calls of the day, including jack in the box, getting ready on the other side of "power lunch." kept turning the page, writing the next chapter for the rx and lexus. see your lexus dealer. tdd# 1-800-345-2550 we're hitting new highs. tdd# 1-800-345-2550 and i'm on top of it all with charles schwab. tdd# 1-800-345-2550 tdd# 1-800-345-2550 i use streetsmart edge and its tools like... tdd# 1-800-345-2550 screener plus - i can custom build my own screens

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this is big news. welcome welcome back to "power lunch." brian shactman here looking at shares of itt down more than 5%. fbr capital downgrading it to underperform saying there are head winds across multiple of its businesses. the price target changed from 24 to 15.50, that's a big chunk to the downside, 5.25%, trading at 17.72. tyler over to you. >> thanks very much, brian. "analyze this!." tyler, 30 seconds per stock. citi, $14 price target op. the stock, "we believe there is a risk in ea's plan to launch 41 mobile, soshl and ftp games in 2012," free to play games. >> i agree. it's a tough business to be in.

everybody remembers "guitar hero." it's a one-hit wonder and flops after that. >> 40% to the downside year to date. barge of america, merrill lynch, jack in the box have wedding receptions there, to buy from underperform raising price target to $32 from $21, "higher estimates reflectsing a combination of better sales at the flagship jack in the box brand and much more modest food cost inflation." >> we don't like that call. we think they're way too bullish on the stock, relying on the mexican business which is not doing as well as far as the food is concerned and we'd rather own mcdonald's on this. >> argus research updating pepboys to buy from sell, noting despite a terrible first quarter, "we expect improved revenues, margins and earnings beginning in the second half of the year." year to date the stock is down 15%. what do we think of manny, mo

and jack? >> they've been in business for a long time and still haven't figured it out, not going to figure it out, bottom line. >> my father used to take me to the pep boys, manny, mo and jack. metals about to close for the week and we are following all the big movers there. we'll do that, when "power lunch" continues right after this break. ♪ ♪ [ male announcer ] not everything powerful has to guzzle fuel. the 2012 e-class bluetec from mercedes-benz. see your authorized mer dealer for exceptional offers through mercedes-benz financial services. and i thought "i can't do this, it's just too hard." then there was a moment. when i decided to find a way to keep going.

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gold prices are closing right now, probably none too soon for traders who have had to deal with whipsaw roller coaster ride of this week. courtney reagan is tracking the action at the nymex. >> hi, sue. we've been up and down and looks like we'll finish just about flat to slightly, slightly higher there. we were as high as 15.73 on the session. if we can stay in this range between 15.50 and 1600, a lot of newly established positions could get shaken out and we could see a rally. other gold traders are saying i'm going to wait and see, not making any big moves going into the weekend. next week looks cloudy to me. silver down 7.4% for the week, that's the biggest weekly loss in a year. ray carbone of paramount options says watch silver, this is reactive to what's going on

around the world, the global growth concerns, all of that really playing a hand in silver. there's not a lot of reasons to be long in silver, we're not using it as a hedge against inflation and industrial demand isn't high. the rest of the metals complex down slightly, too. sue? >> i was surprised silver didn't get more of a move or at least a significant pairing of its losses on the 1% growth forecast or plan that's coming out of this mini euro summit, but it didn't seem to resonate at all with traders that i had a chance to talk to. >> it really didn't and that was surprising. seems they're being selective when it comes to what data they're paying attention to out of the eurozone and china, same thing from yesterday. >> court, thank you so much. >> thank you. >> as for the trading action here we're up 48 points, mary thompson joins me here on the nyse floor. when i mentioned the mini summit you're not buying it here.

>> not at all. it didn't cause a ripple. talking to traders ahead of the open they said that was one of the things they were focusing on, the headlines came out, not much of a reaction. >> i'm surprised. >> we're holding on to the gains and been in a fairly narrow range. bit of a change in leadership, financials early on seeing a pickup in energy, health care stocks have been strong throughout the day, and tech is actually taking a leading position right now. take a look at the lagers, though, because yesterday there were all the concerns about the slowdown in global growth, materials and industrials weaker. the weakness in industrials continues today and utilities have been weak, transports under pressure, the railroads are the weak sector, concerns about a class action lawsuit. energy as i mentioned making a rebound there as you can see, it's starting to climb along the back of a recent turnaround in the price of crude in today's session, and then we also want to touch on facebook, which over the past two weeks has been the best performing stock save for

first solar in the s&p 500, so healthy 28%. >> really? >> yes, and the other thing this leads to the next point is that this is a russell rebalancing, we'll see that at the close of trading. facebook is expected to be one of the stocks put in the russell 1000, looking at the 2000. expect to see high volume at the close of trading today, even though this is going to be i guess you could say the least, the smallest rebalancing in the index in quite a few years, only a couple of stocks are being added and deleted from the russell 1000. >> if we see a volume surge that's what it's equated to. >> it's something to keep an eye on. >> thanks, mary. >> sure. >> see you later. let's go to the nasdaq, jackie damaeangelis is followin the big movers. >> let's start with first solar, mary mentioned it, the company getting a pop today after it said it's going to resume construction on its california project. one analyst saying that project is key because it's going to

account for 30% to 40% of the company's earnings this year, so we're seeing a pop in this one, 9%, could be seeing some short covering there as well, and also mentioned before was electronic arts, despite the downgrade from citi, you are seeing a pop in the stock, 2.8% but the analysts saying we have to see some more improvement with social and mobile gaming, also with star wars to see the trend continue. to the downside, r.i.m. another bad day as it goes through restructures, started laying off folks this week. it's going to be releasing a new smartphone in october, but we might not get it, so the company may disappoint. they are reporting earnings next thursday so analyst also have an opportunity to question the management then. back over to you. >> rick santelli at the cme, we have the statements outs of the ministers, ricky and the heads of state there. and very little market reaction. how'd the bond market take it? >> very little.

as a matter of fact, it's a bit of a counter intuitive week in many ways because rates are mostly higher but in a very soft way. now look at the charts. intraday we're up about four basis points in a ten-year. remember on the week if you just looked at closing yields, the range on closing yields for the week's nine basis points and as you look at a one-week chart you'll see pretty much all of that transferred from one week to the next, up eight basis points on the week. 30-year there's a lot of curve implications between the twist, anticipating whether it would come or not, the fact that it did because last friday and yesterday have the exact same settlement for a 30-year at 2.68, we're at 2.75, so up about seven basis points. the last chart maybe the most interesting because i thought we were up a lot more in the week on the dollar index but maybe no more big time qe at least many people believe that. one of the positives to the greenback may be factors in but we're up a little over half a cent on the week, of course, as we continue to digest just

rapid-fire stories out of europe and i'm sure that monday will be coming in with several new ones added to the list. tyler back to you. >> you can bet on that, rick santelli, thank you. tesla's new "s" car hits streets today and soon you'll be able to say "look at that s car go, phil lebeau. >> this is the most highly anticipated new car to launch mainly because not only what it says for the electric car industry but tesla. look at the model s, a lot of people are focusing on the price point, between $57,000 and $77,000 and the range and how many miles per gallon the equivalent this vehicle can get. it can go up to 265 miles fully charged but the more important thing, this vehicle as it goes through the manufacturing process, the first delivery starts today slightly ahead of schedule, said they'd do it by

july. they have 10,000 ordered. 10,000 or 5,000 test drives, will start with existing customers this weekend but the more important story, the one that wall street is focusing on is what happens with tesla's manufacturing from here? they've already said they plan to deliver 5,000 model ss this year. i talked a few minutes ago with the chief designer at tesla and he says with he we're not only meeting the 5,000, theyre optimistic they can meet 20,000 by next year, that optimism is behind the movement in shares of tesla versus all of the auto stocks. the s&p auto manufacturing index over the last year versus tesla. no comparison at all, tyler, and that's because many on wall street are saying when you see what tesla is doing, how they're changing the business model when it comes to moving automobiles, if they can manufacture and ramp up on schedule, they should be very profitable, and that's why people are moving into shares of tsla. so tyler, that delivery is this afternoon. i'm sure that your pun will go

over well when somebody says look at the s car go. >> this car can get your s in gear, right? take it away before i get into trouble. >> hr on line one, ty. headline time, miami heat may be the nba champs but carnival cruise line isn't on top today, it's on the downside, despite beating earning estimates the stock is down 2.3% on the trading session. the u.s. food and drug administration wants to see more trials before giving its seal of approval to repligen's new drug for panceatitis. and family dollar is up 80 cents a share. next on "power lunch" what went wrong with twitter and does it raise questions about the company's future prospects? we'll talk about that after this short break, as we look at

commodities, a mixed picture today with gold a little bit up but silver down a smidge. copper, heating oil, and crude up. like in a special ops mission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade. well, that's what trade architect's heat maps do.

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(sfx: loud thud sound) what a strange place. geico®. fifteen minutes could save you fifteen percent or more on car insurance. welcome back to "power lunch." take a look at pete's, it got hammered yesterday about 9% after janet came out and said dollar volumes down, record 7% in overall volume, over5% today. the overall group was draggeded down by what janney said about peet's. all of the other competitors are to the upside. brian sullivan? >> thank you, brian shactman. hot dividend stocks for your portfolio, do they really outperform nondividend stocks? we've got surprising statistics. plus the facebook rally,

that's right, the stock's been soaring the last couple of weeks. we'll speak with how lard lindzen, buying facebook shares. and homebuilders jumping on the rental wagon. we'll dig into that. back to sue and tyler. >> bs all around me i'm stuck in the middle the tweets are back, yesterday the social site was down for about an hour, the outage comes at a crucial time for the company. julia boorstin's live with no bs in l.a., julia. >> well, tyler, twitter is up and running smoothly today in sharp contrast to yesterday when twitter addicts took to every social network to complain about the outage and beg for twitter to get back up and running. now it's more important than ever for this not to happen again because twitter is turning popularity into profits with global expansion and a move to the mainstream with tv ads.

just hours before the outage, twiter announced it will offer three ad products in 50 additional countries. week and a half it ran its first tv ad on a nascar race to draw sports fans to twitter and showcase the new hash tag pages. earlier this month twitter has had massive success with mobile ads launched in february generating more revenue than non-mobile ads. perhaps a sign that twitter has come of age as it nears its sixth birthday in july, outages are so rare and the services popular the one-hour outage was newsworthy. sue and tyler back over to you. >> thank you, julia. monday there's a power lunch exclusive, one of twitter's board members is going to join us, we'll talk to mike mccue about the mishap and the prospect of going public, monday at 1:00 p.m. eastern time. sticking with technology after a report microsoft might be making its own phone there are a lot of questions about the

software giant's future in hardware. john ford has some answers for us, he's live in san jose. hi, john. >> hey, sue. from what i'm hearing today the answer is no, microsoft doesn't plan to sell its own phone any time soon, if you hear me hedging there there's a reason. microsoft builds references, it's common in the industry, intel does it too, but microsoft has begun assuring phone partners it has no plans to sell its own branded phones in contrast to the tack it announced in tablets where it will sell one called surface directly to consumers. it's gotten enthusiastic early reaction from a lot of the price though pricing, battery life, wireless capabilities and availability are unclear. microsoft product manager tells me microsoft is trying to take care from android and blackberry, so the key issue is getting a pure version of windows phone 8 running on lower end phones for emerging markets. if microsoft ends up making its

own phone at some point that could be an important market for it to target. >> jon, a separate note, we heard that google's larry paige had to cancel a few speaking events because of problems with his voice. can you tell us anything about that? >> i don't really know anything about that. jpmorgan analysts put out something noting that he hasn't posted on google plus since may 25th and there are questions about why they're canceling his earnings call appearance in july, if this is a minor thing but no reason to think it's major but no new information on that, sue. >> the chatter continues. thanks very much, jon. ty? >> sue, going once, going twice, airline upgrades to the highest bidder. so how much would you pay for a better seat on your next flight? plus an auction fit for a king, elvis may or may not have left this crypt, but it can be yours if the price is right.

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power rundown time.

let's get it going and start with mr. ellison, oracle's ceo, larry plans to buy the hawaiian island of lanai for $600 million and all of the pineapples he can eat. it's roughly the price of ten manhattan condo, a better deal an his not so golden state warriors which mr. ellison also owns. what do we think of? he's going to buy the island? >> larry lost out on the golden state warriors which went for $450 million. he was the second bidder but i think this is a better deal. i've been to lanai and jane might have been, too. it is a great deal, former dole pineapple fields, people want to go there and i think buying the real estate here is a smart move. >> what do you think, jane? >> it's been a money losing operation for a long time, but larry ellison has deep pockets, he's not buying it i hope to make money. it is so gorgeous. darren, you know, when we were

there, the place was empty. my husband played both golf courses by himself, two balls a hole, never saw anyone. he felt like a billionaire being there at the place. it is gorgeous, and i don't think murdoch would have sold it to him if he thought ellison would do anything to mess up the island. >> david murdoch, not rupert. >> right. >> wasn't it gates who got married there on the lanai? >> i wasn't invited so i'm not sure. >> next time. i'm not saying there's going to be a next time. not saying that. >> no. >> file this under truth in politics, outgoing congressman gary ackerman decided to take a final shot at the american public saying people have gotten dumber. darren, jane, weigh in. >> is gotten dumber? >> is gotten -- has gotten dumber, have become ststupider. >> i don't know about that. that's not right language, is it, gotten dumber? >> coming from a politician, for a politician to state americans

have gotten dumber is just really the pot calling the kettle black. my feeling is, you know, yes, we do watch the kardashians, guilty, but our knowledge base is broader. it may be shallower, but it's broader. my kids know more than i did at their age. >> americans have gotten broader, jane, myself included. darren, a thought here? >> i'm trying to save time for the last one. >> let's move on to the last one. i spent my morning in municipal court in new jersey, i would have a hard time quarrelling with mr. ackerman frankly. finally, how much would you pay to upgrade your airline ticket to first class, a broader seat? more and more airlines are letting flyers bid against each other in an auction process. would you do it, jane? when would you bid for that bigger seat? >> well, i'm first of all too cheap to pay ten bucks on swe t southwest to get early bird boarding. if i were to go a long flight i might pay up to $100 but these

are weird airlines. air new zealand, an el-al, i'd rather be in coach in el al, more sky marshals. >> they're not going to do this any time soon. delta two years ago started with the first class upgrades on the same day internationally. if you can sell a seat instead of keeping it and auctioning it, they'll do that plus they don't want some guy who paid $9,000 to sit next to some shmoe who paid $150. virgin you wait the day of and get first class for $299. >> wow. >> over to you, sue. >> what did he say, virgin you wait to day of and get -- >> first class for $299 versus $1,500. >> excellent, thanks, darren. two more options, christie's announcing president washington's copy of the first

acts of congress fetching $8.8 million, they were looking for up to $3 million. no word on a buyer yet. up for auction tomorrow the original crypt where elvis presley was laid to rest before being moved to graceland. starting bid, $100,000. darren julian is c oh, of julian's auctions and running the auction. do you have a gauge on the interest yet? >> we have a lot of interest, actually people are dying to get into it. >> oh, stop. >> we have actually a lot of interest from asia, we have a lot of asian clients looking to buy it but it's really the ultimate celebrity experience, but it's the actual crypt where elvis was first laid to rest prior to moving to graceland. >> what do you think, what does your gut tell you what it's going to go for? >> i don't know. there is lots of interest. we've had mixed feelings, some fans consider it a shrine, they go there every year, they don't want somebody else's body to be in it.

we anticipate it could sell for half a million and higher. >> do you have people saying you shouldn't sell it, it's part of the elvis experience and should stay part of elvis' estate or no? >> yes, because a lot of fans go there every year to celebrate his life and death. there's mixed reactions. the cemetery asked us, they're concerned about it but it's one of those things where, you know, it sits empty and they want to really do something with it rather than just let it set empty >> is this the most unusual thing you've ever had to auction off in in my book that's unusual. >> we did for william schatner one year sold for charity. he came to us and said i want to raise money for habitat for humanity. he wanted to sell his kidney stone which we sold for $75,000. >> on that note it's hard to top that, darren, thank you very much. good luck with the auction, let

us know how much it brings. >> my pleasure, thank you. >> brian shactman, over to you. >> tyler had good burger dog earlier. jack in the back, bank of america, merrill lynch doing a full reversal. they had a sell on that stock and they turned all the way around to a buy, raising the price target to $32 from $21. the stock is at the highs of the day up almost 5%. i have never had a jack in the box burger, tyler, but it must be pretty good. >> i never have, either, i don't believe, and that's saying something. coming up, plug in your engines, the first tesla car hits the road and we'll talk more about that and other things as we wrap up the week on "power lunch."

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or visit your local liberty mutual office, where an agent can help you find the policy that's right for you. liberty mutual insurance. responsibility. what's your policy? on this friday let's get you up to date on the markets. things are quiet here, everybody's trying to figure out where they want to go in terms of their position into the weekend, and steve guilfoil ai few minutes ago said we may see more upside bias to the end of the day. the dow jones industrial average on the upside, the euro regaining a little bit of strength based on the 1% growth target by the heads of state at the mini euro summit, whether or

not they can achieve that or not remains to be seen. the s&p is up above the 1330 mark important technically for the market. we've had a lot of volatility in some of the commodities markets today. it seems to be a wait and see kind of weekend for a number of the markets in today's trading session. i found rick santelli's comments, ty, and brian, very interesting because he said after all the movement in the u.s. dollar this week we haven't gained much more on the index, it's the differently between the euro and the dollar that is the biggest news. >> after all the turmoil we've been through beginning back in 2008 through today, i believe the dollar versus the world currency index is off something like a big whopping 4%, so for all of that, the dollar has been remarkably stable over the past four or five years. >> it's very hard to make money in some of the foreign exchange markets these days. >> let's go to brian shactman

for a final thought. >> i want to point out blackrock, one of the biggest asset managers and incredible stock the last couple of years is losing fair amount of talent at the top, bob dahl retired and robert capaldi stepped down, senior client strategist reporting directly to lawrence fink at the top, so a lot of defections at the top, ty, at blackrock. >> thank you very much, and thank you, tyler vernon for being here all week. i was traveling a little bit. >> always easy to remember your name. >> one tyler to another, good to be with you. oil, one of the movers over the past few months and mostly down but today higher. look at the chart. >> i think long-term, tyler, this is a great buy. we want to continue, there's more and more consumption of oil worldwide, and i think iran could start getting a little hairy here as far as with some of the sanctions that will be implemented.