expiring february 55 calls so this is somebody who has been right on the direction and have rolled up and out like the trade. that's my final trade. >> refresh my memory. you in this name? >> i am. i'm in facebook stock and options. >> final trades. josh, your final? >> freeport. >> happy birthday, michaela. >> "power lunch" starts now. "halftime's" over. the second half of your trading day begins now. >> scott, thank you very much. get ready to get out and shovel in beautiful montclair, new jersey where the ice is that high. here it comes. this is a picture of a mess. forecasters say this could be a really significant weather event from washington to new york. it is already snowing and icing further south. look at that, 32 degrees in augusta, georgia. that's where they have the masters. in about five, six weeks from now. columbia, charlotte, 25. raleigh -- love doing the

weather. what does it mean for the airlines, for business? we have the flight line from east to west, north to south covered. we'll have a forecast for you in one minute. there is evidence today that investors may be pulling out of the housing market. what might that do to prices? plus, a controversial study from canada regarding mammograms. is this really a cost effective first defense? and we will go live to sochi, folks. let's go over here. why not. the big game of the day, women's hockey. the u.s. taking on bitter rival, canada. the u.s. jumped out to a 1-nil lead but the canadians came back. they won the game. they went ahead on a controversial goal, the whistle blew but the refs allowed it anyhow. canada 3, usa 2. we will take you live to russia coming up. first to sue at the nyse. >> we will start with that weather forecast. here's the weather channel's tom niziol as we get set for what could be a real whopper.

>> phase one of the winter storm produced ice and snow across the southeast. phase two going up the east coast for the major northeastern cities, it will be mainly a snowstorm. let me show you how this will play out. we brought you a couple computer models, one that tracks the storm near the coast which brings more of a wintry mix, warmer conditions along the i-95 corridor. if the track storms further east, it's more of a snow event for major metropolitan areas. if we take a look overall, there will be a lot of snow coming down all the way from washington, d.c. through philadelphia up through new york and into new england. as much as 12 to 18 inches in some areas. very big snowfall differences from the east side of d.c. to the west side. the same goes for new york city and running up to boston as well. so we are going to see once again major snow event for a large population, tens of millions of people, for the second part of the storm this will be late tonight through thursday night into friday morning.

stay tuned. we will keep you updated. back to you. >> thank you very much. oh, boy. i am so done with winter. tyler is so done with winter. bill griffith is so done with winter. phil lebeau is, too. what does it mean for the airlines, phil? >> reporter: just look at the map. you can see where this storm is at and where it is headed. it's hitting all of the major hubs. we talked about this over the last couple days. going through atlanta, that's clearly impacting delta. as it moves up the east, you have a number of the major airlines who have hubs in d.c., new york, boston. so far, this storm the havoc it's wreaking is primarily in the south and southeast. atlanta has canceled more than two-thirds of its flights today. charlotte canceled more than half its flights. here are the latest numbers. these will likely continue to grow throughout the day. according to flightaware.com, 3266 flights have been canceled. keep in mind, about 30,000 flights for the entire u.s. in a day, so more than 10% have been canceled. you see the delays, more than 4,000. not surprising that delta has

been the most impacted airline. as you take a look at the chart of delta over the last month, i get this question a lot from people, it's been a terrible winter for the airlines. why are these stocks moving higher. it's because it's bad for all of them. it's bad for all of them and eventually it will improve and investors are looking through the storms right now. >> they sure are. wish we could look through the storm. thank you so much. breaking news in the bond market right now. it's the ten year note today that's up for bid. rick santelli is tracking the action at the cme. what was demand like? >> reporter: the demand wasn't too bad. i gave the auction a b-minus. some of my trading colleagues thought more c-plus. i want b-minus and i'll tell you why. yes, 24 billion ten-year notes and we will reopen it two more times in successive months ahead. the bid to cover was 2.54, that's definitely a little light. 2.65 auction average but it priced at 2.795. which was exactly the offer side

of the market so in that regard it priced somewhat tight. all the other metrics, indirects, directs, went right around, even slightly higher than the average but a b-minus auction. big concession, rates are up. tomorrow is the last of the auction. 16 billion 30 year bonds. back to you. let's go up to dominic chu for a market flash. >> check out pharma cyclics. a drug approved to treat leukemia, stock shooting up 3%, session highs. back over to you. >> thank you very much. the heavy snow in the east, drought in california, some say it is the worst drought that state has had in a century. the only real solution obviously is steady rain. there is an irrigation effort and an irrigation industry out there. jane wells is live in california.

>> reporter: you know, maybe you can buy one of these fancy new sprinkler heads but what if you don't have any water to go through it. this is the largest outdoor ag show in the country, 100,000 people expected. at a time where this is the hardest hit area of the drought. the governor is expected here any minute, the president will finally be visiting this area on friday. farmers here grow about half the nation's produce. they are looking for ways to stretch every gallon of water, better sensors, irrigation. from publicly traded companies like trimbull, that stock up over 10% on a strong quarter. an israeli company sells drip irrigation systems which can cut water usage in half and sales are up double digits in a year. is drought good for you? >> drought is good to a point. when drought draws growers to be concerned about their future, about the ability to have any water at all, that's not a good thing for the industry in general. but when we have a relatively dry year, it can drive some increased demand for sure.

>> reporter: with some farmers letting a third of their land go fallow, well drillers and suppliers at the show are complaining of too much work and a fear of running out of parts. tyler, we'll be back in an hour with the impact on consumers. back to you. >> thank you very much. several companies in this space are public. trimbull up 9% in the last month since this drought really became a crisis. lindsey up almost 6%. there you see valmont industries trading lower over the past month. >> indeed. there's a lot of differing data, as you well know, on home prices. but one big real estate watcher is saying today that the big money investors, well, they may be getting out of the game. here's diana olick. >> reporter: investors both institutional and individual put a floor on home prices and put housing into recovery, no question. now the concern is when will they dump out and what will that do to the market. more than 100 real estate experts and economists were surveyed and asked just that. 79% of them said that if

institutional investors who bought close to 200,000 homes started selling their properties this year en masse, there would be a significant or somewhat significant impact on markets that saw the most distress. but the survey also asked when they thought investors would start to bail and the vast majority said not this year. 57% said three to five years from now, and 33% said six to ten years from now. just 4% said investors would sell this year. so they're not selling but we do know investors have slowed down their buying which is already causing some scary results. take phoenix, where sales are down 17% year over year and supply is up 30%. that's going to hit prices hard. guys? >> thanks very much. let's move on to the investing edge. the dow right now as you see down about 40 points. nasdaq with a small gain. sheila dharmarajan is live at nasdaq reporting on which stocks did best after that recent dip. first, to seema mody on what may

actually be lifting the markets off the lows. that is earnings. >> it might be earnings. strong earnings driven by two sectors with companies not only beating expectations but reporting a notable jump in sales growth. the winner is technology and consumer discretionary. the average sales growth rate for tech is 5.4% which is higher than the s&p 500 average of 1.1%. three major catalysts, i.t. budgets are coming back, a pickup in the european economy and lastly, the adoption of digital. according to neilson, americans on average now own four digital devices. some of the tech all-stars that have posted double digit revenue growth include facebook, google, electronic arts and consumer discretionary is realizing a 4% rise in sales growth. a gradually improving u.s. economy resulted in consumers spending more on autos, the housing market has benefited from this. d.r. horton posting double digit revenue growth this quarter. companies who have not reported

yet include cisco, whole foods after the bell, pepsi and discovery communications tomorrow. >> how many digital devices do you have? >> i was thinking about that. i have about five. tablet, p.c., my laptop, two phones. >> it depends how you measure the household, what you call a digital device. to sheila on stocks that have come off their lows since last week's drop. how many digital devices do you have? >> reporter: i was actually just thinking about that. i think as a household we probably have closer to eight or ten so we are definitely on the heavy side of that. but let's talk about stocks. because we are definitely seeing a rebound after we hit that 3 1/2 month low last week. what exactly are investors buying? we sliced this up a couple different ways. if you take a look at an overall index basis, right here at the nasdaq, the nasdaq 100 is outperforming the s&p. the russell, pretty much all the indices, up about 5.3% since hitting that low last week. you have a lot of those big

momentum names like tesla, regeneron, green mountain coffee helping lead the way. on a sector basis, this is interesting, s&p 500 consumer discretionary sector, also the materials sector, it's what's really led the way from the bounce-back last week. both of those individual sectors up more than 5%. finally, on an individual stock basis, it is all about earnings, earnings and earnings. you have some really big earnings winners. akamai technologies up about 30%. michael kors was another big winner. how do you read all these tea leaves? what do you make of what investors are buying? i have been on the phone all morning talking to traders and economists about this. right now, some mixed signals. the fact we are seeing outperformance at the nasdaq 100, pretty good sign. it means a risk appetite is still out there. this is a very tech-heavy index, biotech has been a strong outperformer. but the fact that we are seeing such strength in consumer discretionary and materials, little bit more of a mixed signal. traders tell me you like to see a lot of strength in financials

isn't what we're seeing. finally, when talking about all the earnings winners, look, we have been talking a lot how this is a stock picker's market. those winners could just be the perfect indication that investors just aren't willing to let companies have a free pass when it comes to earnings. they really want to see that top line growth. they really want to see strong performance. the fact that we are seeing earnings outperformers really winning the market could be a sign that investors are just getting choosier, not willing to just ride along the overall market wave. so a couple tidbits on what's winning in the past couple weeks. >> sheila, thank you very much. in just a few minutes, we will have more from eamon and see how your employer is tracking your data trail and what they are doing with it. plus, disaster at the national corvette museum. that would define disaster there. wait until you see more about that. and josh on the controversy in the city by the bay. josh? >> reporter: yeah, tyler, high tech workers need to watch out,

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welcome back to "power lunch." thompson reuters is sliding after the global news and information company reported a steeper than expected drop in fourth quarter profits hurt by cutbacks at financial institutions and europe and emerging markets. it also said sales would be flat in 2014 so those shares down on

today's session. >> couple of pretty amazing pictures from inside the national corvette museum which is in bowling green, kentucky. who knew there was a corvette museum, but there is. a sinkhole it is suffering from, and that is to put it mildly. motion detectors set off a security alert and there you see what happened. here's another picture. no word on the damage yet but it does indeed look pretty bad. after three decades of watching foreign auto makers set up nonunion assembly plants in the southern united states, the uaw is trying to organize in chattanooga, tennessee. today through friday, more than 1500 workers at a vw plant are casting their votes, union yes or union no. if the uaw succeeds, the plant will become the first foreign automaker in the south to unionize. we have a cnbc executive with the president of the auto workers union, bob king, about that vote and that will be on "the closing bell" today in the

4:00 p.m. hour. sue? a feud is simmering in northern california but not the typical feud. many high tech workers there commute on company buses. people living in those neighborhoods have come to resent those buses and the tech executives and workers that ride them. in some cases, there have been threats of violence. josh lipton is live with more on the fight over the san fran commute. josh? >> reporter: yeah, every morning on street corners like this one in san francisco, tech workers board private shuttles bound for google, apple, facebook and others, but community activists see it differently. they say that buses are really representative of broader trends here like gentrification and income inequality. >> am i mad, yes. i am mad about it. i'm mad at the obliviousness and mad at the lack of care. yeah. i'm not the only one that's upset, okay? >> reporter: san francisco is booming but that wealth has

created tensions in the city as well-paid tech workers move to san francisco. the cost of living in this city has skyrocketed. home prices and rents have shot higher. many long-term residents of the city have been forced out of their homes. evictions are up 40% in just the last three years. the business community counters that home prices are surging but they blame that increase on a lack of housing inventory. jim lazarus of the san francisco chamber of commerce makes another point, tech is a job multiplier, he says, meaning that every well-paid engineer is supporting restaurants, retailers and personal services. big tech will tell you they try to be a friend to the community. google, for example, will point out that millions of dollars it has donated to nonprofits and says it looks forward to doing more. sue, back to you. >> josh, thank you very much. we'll watch that story because it's obviously going to continue to develop. diggers finding a time capsule 30 years after it was planted by former apple ceo steve jobs.

more on what's a fascinating discovery from kcnn's editor in chief. thanks for being here. nice to have you. we understand mr. jobs was speaking at a conference in aspen and they put together this time capsule and buried it somewhere in a field in aspen. how did they find it? >> they buried it in 1993 with every intention of digging it up in 2000, then they lost it. the national geographic show "diggers" went after it. they will reveal the content later this month. cnn got an exclusive preview of the video. it's pretty cool. >> it looks like it. we are looking at a picture of the time capsule which honestly, it looks like a much bigger time capsule than -- or the encloseure of it than i thought. there must be thousands of items in there, including i guess his mouse. >> there's a lot in there. there were items from all of the attendees at the conference. this entire design conference, they all put something in.

there's a six-pack of beer in there. it's probably not good anymore. steve jobs included the mouse. what's so cool about the mouse, it's not only is it apple's first mouse, but it's the mouse he used to give a presentation at the conference and the presentation itself proved to be extremely prescient. >> very interesting. i know you will air that episode of "diggers" later this year. we are looking forward to it. it's a great story. thanks for joining us. >> thank you. that was some valentine ale in that time capsule. >> looked like it. it's probably still good. >> it's been under ground, it's probably been cool. it's all right. let's go to the power rundown folks. maybe we should break out valentine ale for john forte and robert frank. let's start with francois hollande. he is heading to silicon valley, the first french president since francois mitterrand.

who is he meet and what does he plan to get out of this trip? it's surprising no other french leader has gone there if only to court business. >> i'm interested in what robert has to say about this. look at france's corporate tax rate, consider the attitude there toward immigrants. right now, the fact he's also bringing a message saying we don't like when you're doing in luxembourg, pay your taxes here. >> is he looking for a date? >> what he's going to find is a lot of tens of thousands of other french people because if you're young and techie in france, you moved to california. to start a company, to fund it and to get it operating in france, it's impossible. he's got to try to figure out what government can do to help them stay in france. >> he didn't have his motorcycle helmet on. >> he's probably not looking for a girlfriend. all right. good. what does it mean to be rich in the usa? if you ask nicole miller's ceo, he would say most americans are actually wealthy. check out what he had to say earlier today. >> we've got a country that the

poverty level is wealth in 99% of the rest of the world. money is all over the place and the guy that's making, oh, my god, he's making $35,000 a year. why don't you try that out in india or some countries we can't even name. >> why doesn't he try out $35,000 a year. why doesn't he try out $35,000 a year. >> that's the most ignorant thing i heard all month. the standard of living, the cost of living here, is drastically different than it is anywhere else. the comment is nonsense. >> i did a web piece on this. it is just blown up on the web with people saying look, if you make $35,000 a year, you are not paying the same for cost of living. he is right, we should point out, to get the top 1% globally all you need is $35,000 a year. so globally, he's right. but wealth is all relative. it depends on where you live and what everything else costs. >> $35,000 a year, you couldn't afford grey poupon. >> that's right. >> embattled ex-food network

star paula deen is making a comeback bid thanks to a $100 million backing from a phoenix based private equity firm but is her brand too tarnished by now? she was brought down by sort of racially insensitive comments that she made a year or so ago. >> i think she will come back. her appeal is so broad, i think a lot of people will forgive her. this is a lot of money. she's still a very strong brand. >> really. >> i want paula back. come on, everybody makes mistakes. it was a deposition this came out in. she's got a bunch of money. let's see what she can do. >> good enough. thanks very much. let's go to dominic chu. >> so green mountain coffee moving lower on news it's facing a lawsuit from treehouse foods accusing it of anti-competitive practices. separately, longbow research downgraded the stock to neutral from a buy rating and removed its price target of $123 a share citing the company's valuation. if you recall, green mountain has been on a tear since coca

cola announced it would take a 10% stake in the company. so a little bit of a pause for gmcr shares. back to you. >> the company is always in the news for one reason or another. thanks, dom. a new and controversial study on mammograms is out today. we'll have the details coming up next. if you're looking for a job, the people who might or might not hire you are watching your data trail, believe it or not. see what they're looking for. and how the data trails are telling your boss more about you than you may want them to know. plus -- >> coming up, power pitch. trillions of texts are sent every year and this startup wants to capture those messages into a book. will this new twist on texting win over the panel? >> are you in or are you out? >> stay tuned.

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so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present. it's that time of the day, yes, the time of day when the gold market closes. right now, comex gold for april is trading up just a fraction, about $5 on the day. silver still negative. well, now, see, they make you look like a fool. silver has now ticked to the plus side, as has copper. platinum's down about $1.40. you're up to date. the big mover is copper, up better than a full percent. >> thank you, sue. now it is time for the power pitch where we give startup founders just 60 seconds to see if they have what it takes to be the next big thing.

>> i'm mandy drury. on today's power pitch, we have a startup that wants to give you the power to turn your text messages into a book that is literally a page turner. tyler barnett is the co-founder of textbook. before running this venture he launched several mobile apps including so annoying, a platform of people about what is annoying them. let's take a look. >> i'm tyler, co-founder of textbook.com, a service that takes a text message conversation on your phone and transforms it into a book. billions of texts are received every day. even in my own relationship, i have sent thousands. these messages chronicle our modern lives and preserve the jokes, photos and crazy nights that we need to remember. i sought to create a simple way to turn these messages and photos into a book. we started textbook.com, an android app and iphone service that creates a customized memoir with a title and cover. one book option even makes your

text read like a novel. textbook has a dual revenue stream, the purchase of the book and the customization of binding. we grab customers with the concept and then monetize with options. we have no competitor and are seeking to expand the text message book service to other platforms. a text message book is the modern day autobiography. diary, gift, valentine, we all text. everybody is an author. at textbook.com your story is already written. >> tyler is there on the right side of your screen. he can hear us but can't react just yet to what we're saying. on our power pitch panel today is technology contributor natalie morris. we also have patrick chung, the founding partner of nea. let's have a look. what did you think? >> i think every now and again there comes a text message conversation that you do want to then save and memorialize and i get that, but i think that's only going to happen once in a lifetime. in terms of sales volume, that's

going to be hard because then you're going to have to have a lot of people ordering these once or twice a year, if that. >> what about you, patrick? >> you are taking something that is impermanent and trying to mack it something permanent. let's say that natalie and i are wrong. if we're wrong and it becomes really popular, what's to prevent the thousands of photo book manufacturers out there from offering the same service? >> so potentially a lot of competitors out there. as for me, first of all, the website, oh, my goodness, way too technical. number two, what about privacy concerns? you are essentially giving this company not just access to your texts, but to the texts of someone else. apart from that, i think it's a really cool idea. tyler, come sit down here next to natalie. we will answer some of those questions that we ahad in the huddle. >> my question has to do with value. how are you going to educate consumers so that they know this is an option when they get lucky enough to have a really great relationship? >> the air around us is pulsing with text messages, 13 trillion

sent last year alone. more and more people are choosing this as their main method to communicate. it could be just once a year people choose this, just for that one time where it's a meaningful gift or memoir. it's the right one. >> how much is it? >> it's 99 cents for the book and you can create as many as you like for $2.99. >> even a hardback like this? >> no, after that you can decide to create an ebook or output it in a soft copy or hard copy and those can range from $3200. >> what is your profit margin on something so cheap? >> the 99 cents is all profit, actually creating the book. the profit margin can only go up once we can take some of the services in house which we want to do with investment. >> patrick? >> won't there be a chilling effect on text messages? won't people feel they can't be as forthcoming if they think one day it will appear in paper in hard copy? >> i think people are starving for nostalgia. i think people want to see their lives again without textbook, those 13 trillion texts are

going to vaporize and if you could be present during some of these exchanges, where these textbooks have been given or received, it's always a very positive emotional event. >> is there a concern about one of the digital printing companies doing something like this once this takes off or they get wind of it? >> my answer is why haven't they. we worked with leading development companies who told us that this could not be done. that it was impossible to transform text messages into books. >> why? privacy? >> privacy. which we have addressed. everything happens locally on your phone. you don't even need to be connected to the internet to produce your book. once you have that app on your phone, the book is on your phone, you can share it with nobody if you would like. >> how much revenue are you pulling in at the moment? >> with a $100 marketing budget, we are able to pull in about $1,000 a month. right now, we are just two guys in a living room. we need an investment in order to expand this to what it needs to be. >> we have heard what he had to say. are you in or out on textbook?

natalie? >> i think address the privacy issues, make sure that's clear, make sure the advertising budget is nice and big so that you can again, increase volume, and i think especially for valentine's day, you know. >> we have one in. patrick? >> it strikes against the very nature of text messages which are meant to have a short shelf life. i don't doubt at all that some people are going to want to do this but like natalie said at the beginning, i wonder how many people and how often. if you found a way to maybe capture snapshots, that might be really cool. but if it's text messages, i'm out. >> we have one in, one out. i like the idea of the permanent aspect. that's a great selling point. i'm a little concerned about the privacy but tyler seemed to have a good response there. as long as he wraps that one up and make sure there are no legal holes, i think i'm going to be in as well. tyler, what's your reaction? >> i'm thrilled. patrick, i want to give you a textbook one day.

i think you will be in, too. >> thank you very much. to our panelists, natalie and patrick, that is the power pitch. >> tyler barnett took mandy's advice and completely redesigned the website. let us know whether you are in or out on textbook by using the #powerpitch. sue? data is being used in new and even weird ways, ways that people probably never thought about or envisioned just a few years ago. that includes employers using it to manage their work forces and it even helps some employers decide who to hire and who not to hire. eamon javers has been working on this story. so nice to have you here down at post nine and see you again. this is a very interesting and somewhat disturbing story. >> absolutely. when you look at it, big data is the big buzzword of industry right now. everybody is focused on analytics, how you slice and dice these enormous data sets and come up with findings that are maybe unusual or unexpected. a lot of them are just downright

weird when you look at the findings of a company called evolve, for example. that's a company that slices and dices millions of h.r. records, employment records, job performance records, and have come up with a couple findings that kind of blew my mind. take a look at them as we walk through this graphic. you will see exactly what it is that i'm talking about. first of all, they found that job applicants who used non-standard web browsers, that is chrome or firefox, actually performed better than those who used the standard web browser, that is internet explorer or whatever comes in the box with your computer. they don't know why that is but they say those people ultimately stay longer, give higher customer satisfaction and close more sales when you look at the actual data. speculation here is that the people who go out of their way to install an unusual web browser on their computer actually are showing some initiative, they have some tech savvy, they have the ability to go out and solve problems and use some good old-fashioned initiative and elbow grease to get the job done.

also, they found, and this is kind of astonishing to me, they found that employees with criminal backgrounds are 1.5% more productive on the job than those people who don't have criminal backgrounds. why is that? evolve says they don't know exactly why. they say their data bears this out and when they go through it, they think that big companies can save millions or even tens of millions of dollars in increased productivity by hiring people with criminal backgrounds. i have no idea why that is. my only guess, executives might say i'm never doing that, but my guess is maybe criminals don't have a lot of other options and maybe are grateful to have the job opportunity. therefore they perform better on the job. who knows. >> that could be. who knows. great story. thanks so much. good to see you again. in today's yahoo! finance question of the day, with more companies tracking employee online activity, do you fear your employer is tracking your data? 38% say yes, it's an invasion of privacy. 48% say not really.

14% say i'll respond later when i leave my office. that's probably a smart thing to do. to the bond market now. we have the auction. let's see how the market is behaving with rick santelli, who is tracking the action at the cme. >> this is a key area. if you look at intraday chart of ten you see 2.77, up four base points, the auction wasn't bad, slightly above average. you have fives, tens and 30s above their big retracement for the year. if you look at three week charts, that's the last time we were up here, you can clearly see that tens and 30s are revving up for a new direction for 2014. yields up, price down. back to you. >> thank you very much. you're up to date on the bond market. there's a new study out of canada that certainly will spark conversation. the study says yearly mammogram screenings do not, do not reduce the chance of a woman that will die of breast cancer. the results confirm earlier findings in the field that say

mammograms most often detect abnormalities that would never be fatal even if left untreated. the study says quote, it found no reduction in breast cancer mortality from mammography screening. in 2012, another study published in the "new england journal of medicine" found mammograms had only a small effect on stopping breast cancer deaths. but the american cancer society told cnbc today the canadian study is not sufficient to change the recommendation that women get regular mammograms. ty, i'm sure there will be a lot of discussion in a lot of different sectors about that study. >> very interesting. having lost my father to prostate cancer, it is rather similar to findings a year or so ago about the famous psa test there. similarly controversial, i'm sure. let's move on to fur in 50 degrees. you'll find it in russia. michelle caruso-cabrera live from the olympics in sochi. >> reporter: hey, tyler. if you are anti-fur, stay out of

russia. you won't believe how popular it is here. peta doesn't stand a chance. more "power lunch" in two minutes. [ park sounds, sound of spray paint ] ♪ we asked people a question, how much money do you think you'll need when you retire? $500,000. maybe half-million. say a million dollars. [ dan ] then we gave each person a ribbon to show how many years that amount might last. ♪

i was trying to like pull it a little further. you know, i was trying to stretch it a little bit more. [ woman ] got me to 70 years old. i'm going to have to rethink this thing. [ man ] i looked around at everybody else and i was like, "are you kidding me?" [ dan ] it's just human nature to focus on the here and now. so it's hard to imagine how much we'll need for a retirement that could last 30 years or more. so maybe we need to approach things differently, if we want to be ready for a longer retirement. ♪ ♪

welcome back to "power lunch." check out shares of sea drill, the stock is falling after wells fargo downgraded shares of the offshore driller and servicer to underperform from a market perform lowering its price target as well to $33 a share from a prior range of $40 to $42 a share. it says it thinks the company's dividend is at risk. back to you, sue. >> it's better than 4% down. let's get you caught up on the olympic medal count. norway still leading 12 medals. canada and netherlands tied for second with ten each. tied for third is the united states and germany with seven medals each. you're up to date. your norwegian heritage coming out on top, ty. >> i love the norwegian curlers with all the different multi-colored trousers. in the united states, many people have been sort of shamed out of wearing fur but in russia, it is anything but the case. michelle caruso-cabrera live in sochi, where nobody has ever

heard of peta and if they did, they probably wouldn't care. michelle? >> reporter: yeah, that's right. it was 60 degrees here in the olympic park. we didn't even wear coats. you can't say the same for the russian women. in a quick walk around, we saw many of them wearing fur coats. we see them here every day, even when it's hot out. stroll through olympic park or downtown sochi and you can't miss them. russian women wearing fur coats of every length, style and color. lena is wearing mountain cat. >> it's very beautiful. it's a kind of prestige. >> reporter: even though sochi is a summer resort town, fur coat shops are pervasive and busy. her fourth fur coat, she tells me. this one's a short mink for driving, she says. there is even fur on display inside the olympic park, including real wolfskin. it's a showcase for the native culture of russia's peninsula.

everyone tells us the love of fur is driven by russia's weather. >> it gets very cold in russia. >> reporter: yeah, but sochi is warm. even on a 50 degree day, the women of russia don their fur coats. but it's 50 degrees here fahrenheit and the women are still wearing fur. it's not that cold. >> because it's fashion. >> reporter: sales numbers show how much russians love fur coats. the international fur federation says sales to russia, turkey, ukraine and kazakhstan totaled $4.3 billion last year. in all of north and south america, only $1.3 billion. when asked about the anti-fur movement, russians looked at us askance. >> but we like it. it's coming from our history, that all russian women wear furs in winter. it's common for us. >> reporter: we are told there have been some attempts by peta-like groups to reduce the

usage of fur here but they'll have some very big cultural hurdles to overcome. speaking of fur, something that's not so common, one of the athletes here in sochi has a fur sponsor. canadian megan emery is sponsored by the fur institute of canada. her dad is an avid trapper and hunter. she says wearing fur is one of the most canadian things you can do. she is a biathlete. tyler? >> you mentioned that sochi es a summer resort. it is warm there. you talked about 60 degree days. is the snow melting, number one, and was sochi actually a good idea? remember, vancouver is not exactly a frigid place, either. >> reporter: that's exactly what the organizers in sochi said today. they insisted that yes, sochi, still a good idea despite the warm weather and its impact on conditions. practice on the women's downhill run was canceled yesterday to preserve the peace. the track was mushy for the nordic combined event. soft snow caused lots of falls

in the slopestyle event but organizers dismissed the concerns, saying none of the events had to be canceled and they said it's better than it was in vancouver and went on to say isn't it great that the sky is so blue. tyler? >> that sounds pretty good. michelle, thank you very much. cnbc, folks, in case you hadn't noticed, is the home of curling. it is a mesmerizing game to play and truly mesmerizing to watch. you look at the concentration on the faces of the competitors. our coverage will start at 5:00 every night, so sweep on over to cnbc. >> absolutely. we love watching it. there's never been so many workers without a job and without a government lifeline. last time we saw this, it was more than six decades ago but with almost two million now cut off, what do the jobless do when the benefits end? we'll talk about that. plus, forecasters calling it a potentially catastrophic event. a massive snow and ice storm

making its way across the south and up the northeast coast. we're tracking the big storm for you. that's next. if you have moderate to severe rheumatoid arthritis, like me, and you're talking to your rheumatologist about trying or adding a biologic. this is humira, adalimumab. this is humira working to help relieve my pain. this is humira helping me through the twists and turns. this is humira helping to protect my joints from further damage. doctors have been prescribing humira for over ten years. humira works by targeting and helping to block a specific source of inflammation that contributes to ra symptoms. for many adults, humira is proven to help relieve pain and stop further joint damage. humira can lower your ability to fight infections, including tuberculosis. serious, sometimes fatal events, such as infections, lymphoma, or other types of cancer, have happened. blood, liver and nervous system problems, serious allergic reactions, and new or worsening heart failure have occurred. before starting humira , your doctor should test you for tb.

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new alka seltzer plus-d relieves more symptoms than any other behind the counter liquid gel. oh what a relief it is. snow in the carolinas and georgia this morning. some school districts trying to carry on. they don't really have a good track record dealing with inclement weather down there. remember, thousands of kids were stranded at school a few weeks back in georgia. now it is rolling, the storm, into the midatlantic and the northeast. this could be a very big one. to tell us about it, here's the weather channel's tom niziol. >> there is going to be a lot of snow coming down all the way in the corridor from washington, d.c. through philadelphia up to new york and into new england, guys. as much as 12 to 18 inches in some areas. very big snowfall differences from the east side of d.c. to the west side. the same goes for new york city and running up to boston as well. so we are going to see once

again major snow event for a large population, tens of millions of people, for the second part of pax. this will be late tonight through thursday night and into friday morning. stay tuned. we'll keep you updated. back to you. >> thank you very much, tom. the unemployment rate may be sitting at 6.6% but nearly two million americans are now without federal unemployment benefits since congress allowed them to expire at the end of december. this is the first time in over 65 years this many americans are without a job and without a government lifeline. "the washington post" reporter asked that question, what do the jobless do when the benefits end. she joins us, as does steve liesman. what did you find when you posed that question and talked to people? how are they surviving? >> to economists, this really is a mystery. i talked to alan kruger, the white house former chief economist. he called this the kraemer

effect, the character who was never really clear how he supported himself but somehow he got by. the thing is many of these folks are turning to odd jobs that are very difficult for economists to capture and to quantify. some of the people i talked to, for example, one woman told me she's selling her great grandson's old baby toys on craigslist to bring in a few dollars. another woman i talked to said she is driving friends around the region to help them run errands, charging them as if she was operating a taxi service in order to bring in whatever income she can, because right now, there is no money coming in the door. >> what i'm hearing from you, people have to be creative. a lot of times they maxed out on their credit cards, as i understand it, so they don't have access to that type of funding. they certainly, if they are unemployed can't get a loan from the bank. do they go to family and friends? >> that's a factor, what the gao actually found is that 60% of people who have exhausted

unemployment benefits have some sort of private income coming in but that income is very disbursed. it could be help from family and friends, could be odd jobs, could be using the last of their savings. it really is very difficult for these folks trying to get by. they went from living paycheck to paycheck in some cases to living dollar to dollar now. >> steve, this is the situation mr. bernanke mentioned fairly frequently, the longer people were out of work, the harder it was going to be for them to become employed. then without the benefits, it's a very difficult situation. >> right. the incidence of getting reemployed if you're out of work for awhile, it goes down. if you have been out of work for a short period of time, you get back to work. really liked the story. i went to look for the people she's talking about and others are talking about in the data and it's problematic. you don't necessarily see it. i looked at a category called discouraged workers. you can see a pretty hefty bump in december and january. unfortunately, i would have expected to see it more in january than december. that's something we will watch

to see if folks who don't get their benefits because one of the theories from the same economist, alan kruger, is that if you get a benefit, you remain attached to the work force. if you don't get a benefit, you might drop out. i also thought i might see them, by the way, in the participation rate but that's come up a little bit. one other area we don't see them is in the self-employed. that's continued to come down. why is it important? because if they're in the data, you have a policy argument to do something about it. if they're not in the data and drop out, they may not be addressed. >> there is also a time horizon issue that they may still remain in the labor force immediately after the benefits have expired but overtime, begin to drop out as they run out of options. >> thank you both. appreciate it. ty? it is one of the biggest movers on the nyse today, up almost 10%. we will name names right after this.

some headlines now. ubs downgrading amazon from buy to neutral. ubs also cutting its price target on that stock from $450 to $375. lorillard sinking, the cigarette maker hurt by higher costs. owens corning surging, about 10% after an earnings beat.

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check out dr. pepper, reporting a decline of fourth quarter sales volume as it struggles to get americans to drink more soda. it did beat estimates. the stock is up 3%. back to you. >> everybody get through the storm safely. see you back here tomorrow. that's it for "power lunch." >> "street signs" begins right now. the big story this hour is that big wall. you are looking at a live weather loop of a massive winter storm beginning to pound the east coast. it is now moving toward the midatlantic after hitting the south. nearly 300,000 people without power at this hour. some 6,000 flights have been delayed or canceled. to put this into better perspective because some people say why do we care, 93 million people right now, about a third of america, are under some kind of a weather advisory. it will hit the economy. >> indeed it will. that is our question, what it an