can see but the big news in ten minutes or so fda approving the obesity drug. the first to go to market. rivals higher, as well. that does it for you. "power" begins right now. "halftime's" over. the second half of your trading day begins now. good afternoon, everybody. as we keep an eye on arena pharmaceuticals and when it resumes trading, we'll go over to the breaking news desk to tell you everything we know about that stock and it's come pet or thes. we're talking markets. industrials up by 89. s&p 500 by 12 points. almost a full percent. nasdaq by .8% or 24 points. gold up a little bit, about a penny there i guess. and west texas crude up $1.17. it is not analyst day but it may as well be for facebook. more than a dozen firms, firms that underwrote the stock came

out today with their initial notes. most with a fairly bullish outlook for that company. now, investors may not be buying it because the stock right now is sort of becalmed. down 1.3% at $32.67. more on facebook, but first, let's go to sue at the nyse. >> yeah. we pick up right there, in fact, ty. one of the analysts with a fresh new note on book is on day of our bc capital markets with an outperform rating on facebook with a $40 price target. welcome. nice to see you. >> hello, sue. thank you very much. >> in reading your note, you say there are four primary reasons to own or buy facebook right now. tell me what they are. >> it starts off with the 900 million active users. this is the asset we are talking about. secondly is the opportunity that they face. this is a highly engaged asset base and a lean structure market or a business structure, rather,

where the revenue per head count is higher than anyone else on the street or higher than anyone else in the space and finally the opportunity. this is a transformational company. that's the key here. >> what's the possible downside? in other words, i take some of the things that you just mentioned. i think your per head ebitda margins is extremely impressive. what's the downside risks here? >> you know, the downside is always going to be competition more than anything else. but i think what we see here is a very, very sticky company. right? so the problem we had with myspace, say, and probably one of the closest comps that people use to say why this might not work out is that myspace was much more about the individual profile and facebook is focused on the connections and the relationship of users. that's difficult to duplicate. >> do you worry about the composition of the board and the

fact that mr. zuckerberg holds a large percentage of stock, basically has control of the stock and cheryl sandberg with the company will be on the board. that concerns some people. doesn't concern other people. where do you fall on that issue? >> no, we're not very concerned about this. we look at other companies like google where, you know, there's a tight control by the founding members and, you know, even with the altruistic view of the company itself, the same thing we find true here. marcus surrounded himself with smart people and we don't see a problem with that. >> thanks a million. thanks a million. >> thanks. a common theme of the analysts' notes is focus on mobile. julia boorstin has more on that part of the story. >> reporter: whether facebook profits from the half billion people that access facebook on the mobile devices is the unknown. facebook just started serving them ads this march. confidence about mobile potential fueled the underwriters morgan stanley and

goldman sachs for buy ratings and overweight ratings and an analyst called mobile a significant potential opportunity as opposed to the headwind it represents today. morgan stanley saying the mobile ad market remanes in the infancy and facebook will lead the market in mobile ad targeting. but concerns of just how long it could take to tap in to that mobile potential are reasons that a handful of analysts and some top analysts initiated with neutral ratings. the headline of the mobile ad transition will take time. while citi analyst forecasts that mobile montization won't be material until perhaps 2014. facebook is certainly aware of the concerns. after launching in march, this month the company made it easier for brands to target mobile users and facebook's mobile revenue won't only come from ads. its new app store with paid apps

and the potential of payments within apps opens the door nor revenue of mobile transactions. now, of course, transactions pose yet another question, tyler and sue. we'll see how quickly facebook can ramp up that re knew stream, as well. >> thank you very much. the cnbc poll on yahoo! finance asks whether the facebook ipo problems would dissuade you from buying stock. vote yes or no. finance.yahoo.com. we'll bring you some results later in the hour. sue? one of the big stories concerns arena pharmaceuticals, still halted. right now, the fda has approved its new obesity drug. arena may be halted but some of the competitors are moving sharply higher as a result. >> that's absolutely correct. moving sharply higher. vivus and orexigen. as you pointed out, big news today. the fda arena approving the fast

buster. this is the first obesity drug to hit the market in over ten years and a global epidemic. impacting over 33% of americans and analysts at jeffries expect arena's anti-obesity drug to hit $1.5 billion in sales by 2020 and a big market opportunity for arena. back over to you. >> all right. thank you very much. let's bring in jeff kilberg now. how are you playing fat and fat drugs, jeff? >> trying to cut back on the steak, too. on top of my suit being tight today, seeing arena. first time in 13 years seeing a new diet drug come to the market. seeing the pop. i like playing the etfs and you can see all brought up here. but the big announcement is new drug coming out to help people with obesity. >> so you would play it through an etf? >> yes. >> not a pure play but maybe

taking out the risk. >> right. >> attendant to a pure play. >> xlv and nice way to play it here. >> all right. jeff, thank you very much. sue? ty, another key bond market auction here in the u.s. and taking on significant importance because of the crisis in europe. rick santelli's at the cme. how did we do this time in, ric ricky? >> i have to give it a "d." >> that doesn't mean it was going to be a good one. but significant in terms in terms of importance in terms of measure of demand. >> no. it is significant. this was a spongy one. 35 billion. the wi trading around .734. around 73.5 basis points. this baby came in at .752. out of the complete range of the wi market today. if you look at the internals,

2.71 bid to cover. that's the worst in a year. indirects were light by 10% at 35.1. directs were close to target at 10.7. but no matter how you slice it, dealers took 54%. not as bad as the two-year as 60 but no matter how you do the trimmings, there's no meat, just bone. >> thank you very much, rick. let's talk about housing stocks. moving as you surely know. diana olick is live in washington. >> hi, ty. take a look at the big names. toll brothers and lennar was the driver, the miami-based builder, third largest coming in 40% up, revenues up 22% a year ago. the ceo saying evidence from the field suggests the for sale housing market has bottomed and that we have commenced a slow and steady recovery process. and we could see that in the

realtors' pending home sales index jumping nearly 6% in may. pending sales out west where the foreclosures are jumped 14.5%. weekly mortgage apps, only snag with re-fis dropping. plenty more on the blog, of course. sue? >> diana. here's a story to make your blood boil. a major bank admitting trying to manipulate interest rates at the height of the crisis and it could affect how much people pay for mortgages. eamon? >> reporter: it was a huge, unsettlement with the department of justice for $160 million. on top of that. and also settling with the fsa in london for additional financial penalties. all told, north of $450 million. and what barclays was accused of

here is manipulating libor overnight interest rates in collusion with other unnamed banks. we asked bart shilton earlier today what the significance of this was to the global market. >> these rates impact the credit rates, interest rates that people pay for everything. individuals and businesses. whether or not it's mortgages or credit cards or car loans or even student loans. so it's hugely important. >> reporter: moving past just the question of what the civil penalties were, today with the u.s. government and the government in england, the focus really now shifting to the question of what the liability is in terms of a potential class action lawsuit here. there have been some already filed. we asked one league expert just what kind of exposure barclays is looking at here. here's what he said. >> the notion trading value of the derivatives pegged to libors

is said $50 trillion. i think that -- i think the exposure on the trades is that large. i think as far as legal exposure and potential damages, probably in the billions. >> reporter: in the billions for barclays. he says. also for any of the other banks that were involved in this alleged libor manipulation. the department of justice, sue, said this morning other banks were involved and they say the criminal investigation is ongoing. back do you. >> thank you very much. neil wineberg joins me now. editor in chief of "american banker." once again, the implications is the public got the short end of the stick with the big banks doing something that they shouldn't have been doing. what are the implications? >> absolutely. the implications of barclays happy to have this investigation over. it raises the question for

banks, some banks come out and admitted they're under investigation including citigroup, ubs, deutsch bank and others. >> all the big banks? >> i wouldn't necessarily say all of them but certainly some of them. >> all right. what are the implications going down the road in terms of liability if we do get class action lawsuits that actually take hold and what do you make of the fine that barclays has agreed to pay? seems sizable to me. >> big number. no question about that. how creative the class action lawyers get, nobody knows. it may be hard to peg wit a loss but the banks have to settle something. you would assume. this looks terrible. it's dragged out in the press and already admitted, bob dimon admitted bad things happened in my bank. they're admitting here and this gives ammunition to the class action lawyer lawyers. >> does it give ammunition to

the regulators? now that the jp morgan trading loss is out there. we saw jamie dimon on the hill. does that add fuel to the fire? would a dodd-frank-type regulation prevented this? >> this is outside of dodd-frank but it certainly does sort of get in to the area of consumer protection in the sense that when these rates are manipulated things like mortgages, variable rate mortgages and commercial loans affected by this. it has an influence and certainly understand the consumer financial protection bureau interested in this but not something dodd-frank tried to address. >> what about the scc? >> derivatives involved, securities fraud and there's a civil action, they could be involved. >> all right. thank you very much, neil. appreciate it very much. brian joins us with "market flash." >> you got down to the nyse. the energy sector.

best by far in the s&p. not a single stock in negative territory. look at cabot oil & gas. natural gas up almost 4%. outperformance there. tightly core lated to it. a terrible month of april. a lot of that back in the last month with the rebound. back to you, tyler. >> thank you very much. the wildfires in colorado have only gotten worse. fire officials outside of colorado springs say the fire raging there doubled in size overnight to about 24 square miles. last night, 30,000 people in the city that includes the air force academy had to leave town. fourth of july firework celebrations banned to the fire threat and fires burning in wyoming, new mexico, and montana. up next, apple's big fight with samsung. it could have a huge impact on all of those electronic tablets. arena still halted after the

fda ruling approving the obesity drug. we are watching for that stock to reopen. there's the chart right there. meantime, take a look at five big movers for a wednesday. [ mechanical humming ] [ male announcer ] we began with the rx. ♪ then we turned the page, creating the rx hybrid. ♪ now we've turned the page again with the all-new rx f sport. ♪ this is the next chapter for the rx. this is the next chapter for lexus.

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the queen of england shaking hands. the i.r.a. murdered the queen's cousin while on vacation in ireland and the formal head of the british military. mcbegin mess said it was important to him because reconciliation was the next stage of the peace process. sue? >> historic to say the least, ty. a victory of apple with samsung. won an important court ruling but it comes on a day when google is set to announce its own new tablet competitor. jon fortt is in san francisco with the google event and an update for us. hi, jon. >> reporter: hey, sue. yeah. this is a court victory, a california judge awarded apple what it wanted, an injunction against samsung's tablet. it won't have a huge impact on the market because they can sell the tablets they have in the u.s. and handing out the units a

year ago here so that's about end of life anyway and they can design around this injunction. it's done something similar in germany and won't stop them from selling the tablets in the u.s. but this is the sort of court victory apple wants. allows uncertainty in the market of whether samsung is successful competing against apple. >> thank you very much. let's rejoin jeff kilberg here. who do you like in the tablet and smartphone space. >> i like taffy apples but you have your varsity, the ipad and now google's splashed in the waters and microsoft surface. from a pc user perspective, a keyboard in the cover and if it's priced right gets traction and get after it. >> whose stock do you like here? look at the varsity players? microsoft? >> yeah. you have to look at apple because they'll roll out the mini ipad this september and

should give a lift to their stock, as well. >> very interesting. jeff, thanks very much. sue? >> all right. ty, checking out the analyst calls when we come back and we trust better than last night at yankees. wise going in to the stands to catch a foul ball. he was called out. big problem. wise never had the ball. the fan did as you can see. we're back with better calls on "analyze this" when "power lunch" returns. sfx: sounds of marching band and crowd cheering

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♪ ♪ welcome back to "power lunch." we are watching shares of arena pharmaceuticals. halted. right after we had a discussion about arena here on cnbc "fast time report" about if the drug would be approved and then heard that the anti-obesity drug got the approval of the fda. this is the first obesity drug to hit the market in over 13 years. a lot of demand for a drug like this. some of the direct competitors up sharply. shares up nearly 22%. the thinking is that if arena's drug is approved, competitors, the drug will also get approved

by the fda. that's the latest. back over to you. >> thanks for watchi ining it f us. let's talk with rbc. management will need to execute with near perfection and cutting meaningful costs across the board. he doesn't buy that. what do you think about this one? >> they have problems with the cost cutting but the biggest concern is overseas growth, specifically india. colgate has the jump on them. these are products we all use and need. from tide to dawn to jill let and charmin. there's value here and it could go lower. >> market perform. you don't seem to disagree particularly with that? >> no, no. >> nicholas upgrading dreamworks animation to hold from sell. benjamin, a movie mogul, says

"madagascar 3" is performing better than expected and we believe that the ruling of the rationale is incorporated in the valuation. what do you think of that one? >> adhering to the mind-set. i think they're doing a great job and like to see them continue before i buy it. you're right. that channel is tight for -- >> to hold from sell. you don't seem to quibble with that one particularly 'm know. >> nordstrom, they say today, they'll have a store in manhattan! >> yes. >> first time ever. we believe slowing same store sales -- how about that? aggressive investment spending will limit upside for the stock. citi also downgrading saks and macy's. nordstr nordstrom's down 7% on the year. >> i don't disagree with this. with the store coming in manhattan, it's more of a market

sentiment play with here analysts, lagging a little bit here. should have came out a month ago, ty. >> yeah. a little detail about that story. they have signed apparently going to sign a deal to come in to manhattan for the first time ever. thaifb looking for years and there you see nordstrom. my favorite store. i love -- love those little sandals there. i have a million of them. and the makeup counter. >> you like that? >> love their ties. coming up, some of the weirdest etfs. in the world. you try to read that. the weirdest etgs in the world and the metals market about to close. going to the nymex coming up. these internationally recognized benchmarks... ...are unlocking a better way to prepare our children for college and their careers. because when our kids do better... ...america does better.

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here at the "breaks news" desk. arena pharmaceuticals will resume trading at 1:45 eastern standard time and seeing shares of arena resume trading so that is the news right now. of course, the fda approving the obesity drug. that is the big news and surely watching shares very closely. sue? >> and because it was halted before the news that's why we don't see the same pop in that

stock as the competitors. all right. let's go to the gold market. where prices are closing right now. sharon is tracking the action for us. it's interesting as the week goes on and closer to the euro summit what the market does. >> the market is waiting, sue, for that european summit and so much that it's waiting for that really gold traders not doing much of anything today. we are looking at prices closing up slightly. around $15.78 an ounce and in addition to the eu suck mit, we have the supreme court decision and weekly jobless claims and we also saw that options expiration yesterday that didn't do much to the futures market and gold trying to decide whether it's a risk haven or asset. sometimes follows commodities and interesting to see how investors play it with all that's on the plate to watch over the coming days.

silver, tracking gold pretty closely and slightly low owner the session. palladium, a standout today, finishing at the lowest level of the year, near the lowest level of the year today and copper prices with some positive manufacturing data coming out here in the u.s. and that was somewhat helpful. continuing to see if the market tells us more of the global economy. back to you. >> thanks, sharon. down here on the floor of the nyse, mary thompson is here to tell me what's going on with imports. >> just off the highs of the day. seen steady gains throughout the day. a couple of things here. on the data, driving the market today. of course, as investors keep watch on any headlines coming out of europe ahead of the summit. look at the s&p. and then what i noticed is breadth of the rally today.

is this a bid for the u.s. economy in general, the things worse finally behind me. a number of people said, yes. take a look at the sector leaders. energy, health care, utilities, financials. financials having a turnaround later today. this is one of the reasons we have seen the markets accelerate a bit there. although credit suisse is not participating in that. perhaps suggesting a disconnect of europe and the u.s. it's a 20-year low and concerns about capital raising there but to go back to the traders saying, they say if you look at the market action, specifically yesterday with those negative comments out of merkle saying as long as i live we won't have a common euro bond, the markets managed to hold on to the gains. maybe people are more enthused for the u.s. of course, one of the reasons it's better game in town today is the continued gains we are seeing in the housing markets.

this week, if you look at it, positive data monday, tuesday and today and as a result the home building index outperforming the s&p today. >> a guy down here telling me there's consistency in the data. >> housing data specifically because this is really the achilles. the financial sector, too, improvement in new home sales, possibly existing home sales down the road and clears out the mortgage mess that continues to put a drag on. >> thanks, mary. appreciate it. now to the naz sdaq and jackie. >> not a bad day for technology. seeing gains across the bore. i want to start with the semi stocks. northland capital with the commuting and communication chip providers, mostly positive on the names and short-term demand in question and hearing some bullish remarks about the second half of the year and next year. look at the stocks.

texas instruments doing well on the day and seeing movement in the equipment makers. doing well, also. we're also watching the pharmaceutical services companies. bank of america, merrill lynch saying that short interest in these names has fallen by 8.7% on average in the first half of june so as we're seeing the interest come down, we are seeing the stock prices coming up. tyler, back over to you. >> all right. actually we'll go to brian shactman. >> just about every social media stock down today, even linkedin except for yelp. up about 24%. a boost earlier in the week and the talk that it's part of apple's new apple system on their iphone. and now seeing some really strong follow through here today off the highs. back to you. >> thank you very much, brian. exchange traded funds

growing faster than kudzu on a southern slope. >> we are talking weird. and weird of course is in the eyes of the beholder but working with index universal, i came up with eight weird ones and counting them down throughout the day. number six, the russell 1000 high volatility etf. think about this. this fund owns up to 200 of the most volatile stocks on the russell 1000 and truck the folks at index universal as weird because you don't hear from people to dial up the volatility. now, that might be why this fund rarely trades. for the part, russell says it's used for exposure to stocks by institutional investors. number five, the fidelity composite index tracking etf,

the first etf back to 2003. as index universe points out, this fund had zero inflows and outflows since 2010. it's available to its customers. number four, tyler, you will love this one. the claymore cef gs connect ein. it's closed-in funds or a called a plat pus pregnant with a dinosaur. as you might guess, gugen time investments doesn't see it that way. i'll be back with the top three weirdest etfs, one more i believe wrong headed than weird and you can find the whole list on cnbc.com and i have to tell you i was out on location for some of these. >> etfs that don't trade and no net inflows or outflows for

years. why do the companies keep them open? >> interestingly enough you see you see some close down and can go look at the fishing and farming. there was a fishing etf. >> gleason probably invented it. >> there was a patent etf. they're looking to make an etf of anything not nailed down. we could be an etf. >> it owns and buys the stocks, right? >> more complicated because there's a creation and a redemption process but yes. they do. >> herb, thank you very much. looking forward to the ultimate weirdest, the weirdest of the weird. let's go to jeff kilberg. you are a fan of etfs. give me a couple of your top picks, weird or not. >> no weirdest here, ty. i'll let it stay with herb. i like three and appropriate with the market the last couple of months here. tlt, gld and euo.

tlt, playing the treasury market and a year ago, the 10-year yield went down to 142. gdl, allows you to get long gold. a great etf as central bankers coordinate an effort and i believe pushes the price higher. finally, the euo. double inverse related to the euro currency. to be short, bearish on the currency and i think everyone is, maybe crowded but there's room to run. looks like it's 119. back to you, ty. >> thank you. i'll toss it over to sue. guys, coming up, a history-making bankruptcy. not a company. it is an entire west coast-based city. it is big news and we have it for you next. plus, coca-cola's big move in to a market where almost no one is drinking coke. ticking higher right now. they're up. we are back in a minute. people with a machine.

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welcome back welcome back to "power lunch." i'm jon fortt in san francisco where google introduced the tablet. $199. it will be available for preorder right now. ships in mid-july. the nexus q, a media streamer to compete apparently with apple tv and its ilk google announced buying. this could drive that. it's the first consumer electronic products built from the ground up and surprises to come from here. now a look at what's coming up. thank you so much for that. coming up top of the hour, a nice two-day rally going, haven't we? three events over the next two days could decide the course for your money. plus, fda approval for the first weight loss drug in over a decade. that stock is up nearly 400% this year alone. so is this also good news for

competitors. and cramer joining us to talk about companies that could be too big to succeed and could consider a trip to splitsville. thank you very much. one of the graphics earlier misidentified bank of america's call on facebook. to clarify, they're neutral on the stock and have a $38 a share price target. sue? ty, the city of stockton, california, which is about 85 miles east of san francisco, will likely become the nation's largest city to file for bankruptcy. cnbc's jane wells is following that story for us now. it has big implications for municipalities around the country. >> reporter: yes. we got off the phone with the city. they have not yet filed the paperwork. two cities exploring bankruptcy. one state university professor tells "the washington post" one in five california cities are at

similar risk. now, stockton has until friday to officially file chapter 9 after the council voted last night approve a budget which closes a $26 million deficit, deals with a $700 million worth of debt by doing things like suspending payments and fazing out a retiree medical benefits. it was a long night. >> the decisions that you are making tonight are effective throwing a grenade in my life and destroying everything i have worked for. >> stockton had the same attorney that helped vallejo proving chapter 9 can work. after three years of slashing public services and dealing with creditors, though prostitutes flooded the town and crime spiked but most importantly, unions took them to court for breaking contracts and the unions lost. a new law passed here in california forcing cities in to mediation before bankruptcy, something stockton did. mediation failed but the fact the city went through the

process may protect it from lawsuits. on the stockton website, the police department is accepting applications. even though it's 25% smaller and city's offering business loans of up to $30,000. back to you. >> very confusing to say the least. thank you, jane, very much. ty? >> all right. we'll have a chat here about the resumption of trading in just about 45 seconds time of arena pharmaceuticals. where did it finish up at the point at which it was halted? take a look at an intrachart. it was trading below or it was trading down about 1% and a year chart of arena, up over 500%. tyler, investors have been piling in to the stock in hopes of an fda approval. they got a lot of winners and bulls satisfied with that approval of arena's anti-obesity drug. in terms of the stock trade,

they're expecting a big move in the stock. no surprise. when you look at the public ownership of arena. 72% of shares outstanding, tyler, are owned by the retail guy. that's unusually high. as you know, seeing higher retail participation. we're open. watching the trade right now stabilize. higher by around 37% on the back of arena's anti-obesity drug approved and competitors are already trading significantly higher. vivus's drug reviewed by the fda july 17th. >> you have to wonder whether or not it's presumption of the sameout come with their drug that arena has had with its because that has not always been the case. they run up the fda result being

the same and it's not been. >> i think confirming the good news and looking at man kind. mnkd. they treat diabetes. still in the pharma industry. they're coming a solution with an inhale lant. an insulin inhalant. look at mankind. >> this is fascinating to watch it move at that kind of speed and the ups and downs. as an investor, this isn't the kind of, jeff, isn't the kind of action you really want to get yourself in the middle of. i guess it's more for the traders to play. right? >> yeah. you want to stay away. there's high frequency trading going on here. you need to sit and let the news settle and hopefully those that own it enjoying the pop right now. i would have a hard time telling

a retail perspective to come in for this action. >> if you're a retail investor and doing what the pros are doing and looking at vivus could you look at that? a lot of people betting on vivus as arena. would you wade in that water? >> no, i agree. obesity is continuing to rise. that's the epidemic of americans. two thirds of americans right now obese. you can put it in the portfolio for a long-term play and a short-term play on a 40% pop. >> can we pull up the stock in the control room and take a look at that and maybe comment on vivus and where its drug stands in the pipeline. a few months ago there was an indication and you probably remember the history far better than i do, the drug was on track for approval as i'm recalling. >> exactly. so about a couple of months ago,

the panel voted in favor of vivus anti-obesity drug getting approved and shares higher by 100%. july 17th is the day when the fda makes the final call on vivus and today a statement that it continues to work with the fda as the agency completes the evaluation of the anti-obesity drug with the action date of july 17th. so arena getting that approval. more hope that vivus qnexa getting the winning of the fda. a quick look at the sell site analysts saying. jeffries estimating that arena's anti-obesity drug hitting $1.5 billion in sales. keep in mind arena's market cap is trading around 1.6 billion. >> right. all right. thank you very much, everybody. jeff, i wonder if maybe you can give me the answer after the

break. do you put in downside protection? up 32% on arena. what will they do to it tomorrow? do you put in downside protection in the portfolio today? >> certainly, sue. >> back in a minute. ♪ ♪ ♪ [ male announcer ] not everything powerful has to guzzle fuel. the 2012 e-class bluetec from mercedes-benz. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. for exceptional offers recently, students from 31 countries took part in a science test. the top academic performers surprised some people. so did the country that came in 17th place. let's raise the bar and elevate our academic standards. let's do what's best for our students-by investing in our teachers.

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welcome welcome back. brian shactman here at the market desk. negative in terms of s&p sectors. you wouldn't think so necessarily with this market up but retail weakness as well as some negative analyst comments in big box retailers and one of the favorites on the show thumped today. tractor supply, sue, down almost 4.5%. tyler will start buying some more boots. >> or something. thanks very much, brian. all right. time for today's "rundown." joining us is neil wineberg and jane wells. best buy trying to take the company private or sell the 20%. could either sneer help the retailer? >> let him have it, sue. i mean, this is why you take companies private. it's a long, long road. wetbush called it the blockbuster of this decade. i don't think the comparison's that good because you can't stream a refrigerator. you need to go actually look at it but this is a long, long-haul

process. long leases. >> let them have it. >> i agree. hard to e-mail a refrigerator. this is a company whose problems so long term and maybe it's better off private and not worry about quarterly earnings. >> coca-cola bets big on india. they want to increase $5 billion over 8 years. part of the master plan to dominate the cola market. good idea or bad, miss jane? >> well, it helps make the world sing in perfect harmony. you have ikea, disney produced and released the first animated feature in india. here's what's interesting, sue. die i diet soda not big there. 2% market share according to the economic times. pepsi max fell flat sort to speak and interesting to see the kinds of products they invest in

there. >> i hate to agree twice in a row. >> you are a smart man, neil. >> in the business of selling fuzzy water, go big, particularly in a place like india selling the regular coke. people aren't consuming much. >> very good. now on to tennis. take that, maria. women's tennis association wants to phase out excessive grunting. i'm not kidding. from the game. well, what do you think, jane? >> you know, i think if we started to grunt more it might help ratings. >> oh! you first. i'm not going down that road. you can pull it off. >> there's people and the men that does not apply to them. not for the current crop of players. i don't know what's going to happen. for me, to ban something, ban john daly's pants. >> oh. neil? ball's in your court sort to speak. >> some is enough and

entertainment and not lady like to hear it back and forth all the time. >> performance athletes. they're come petting. those tennis balls going 100 miles per hour. >> you remember when the men used to -- >> it hurts. >> his sy fits. >> we love that. >> there's a time women hit tennis balls out yelling. >> send your e-mails to -- >> thanks very much. >> let them grunt, i say. check arena again. shares popping after the fda approved the obesity drug and off the highs they struck just after they opened at 1:45 our time here. they're now at 11.92. 35% higher and some of the trades in the last 10 minutes have been i would say in the 12, 12.75 area. don't miss the ceo on closing bell. more after the break.

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in your fight against bugs. ortho home defense max. with a new continuous spray wand. and a fast acting formula. so you can kill bugs inside, and keep bugs out. guaranteed. ortho home defense max. brian shactman here with the arena pharma news. we thought it would be interesting to look at weight watchers and what do you know, positive to negative on that news. keeping an eye on that stock,

sue. back to you. >> great corelation there. the dow jones industrial average up about 80 points on the trading session. the nasdaq up about .75% and the s&p 500 up .75%. half a percent move to the upside in the nasdaq composite. ty, you know, i'm very interested to see whether or not jeff has given us kind of a hedge if you will on the arena play because a move of up 34% is not all probably going to stay in that stock in to tomorrow's trading session so how do you protect yourself? >> jeff, what do you do? >> i like to use the style of selling calls here. if you are an owner, click the premium. to be prudent here, sue, put a sell stop underneath the market if you own the stock to lock in the profits. >> terrific. a busy, busy day tomorrow. anything ahead of the health care decision tomorrow? >> more