events in shanghai and singapore, demand is there. that could be something for investors certainly to look forward to. also spoke about the opportunity to strengthen the lulu team as a result of some of the symbols last year. back to you. >> courtney, thanks. courtney reagan reporting. that will do it for this edition of "power lunch." >> see you tomorrow. have a great afternoon. "street signs" begins right now. hello and welcome, everybody, to "street signs." a lot more on lululemon in a moment's time. first of all, mr. softie, soft no more. shares of a dotcom boom time levels, on visions from satya nadella. office for ipad goes live as we speak. do his actions back this? and herb says it may be still flying just too close to the sun, and who will bring your breakfast dollars?

taco bell says, me, please, and we welcome onboard scott. brian's out on a break. >> great to be here. right to the it, microsoft news. as of a few seconds ago, down load microsoft office on your ipad. morgan brennan join us us with more. hey, morgan. >> reporter: hi. right behind me, the big event here from microsoft just wrapping up a few moments ago inside new ceo satya nadella making his first appearance in front of media. you mentioned, the big news here, office for ipad. that is debuting in the app store right now as we speak. so here's what nadella had to say about this product at the event today. >> when it comes to office 365, the vision is pretty straightforward. is to make sure that the 1 billion office users and growing can have access to the high fidelity office experience on every device he love to use. and office on the ipad and

today's announcement marks one more step in that direction. >> reporter: so now this is really a watershed moment for microsoft. and its core office suite. the first time we've seen this software available on apple's ipad. nadella saying to expect more announcements in the coming weeks starting with another next week at the build conference here in san francisco. back to you. >> margin, thank you for the details. bring in our own jon fortt as well as stephen yakman from the five star yakman fund. microsoft, one of their biggest positions. great to have you on the show. certainly office for ipad was well expected, nonetheless, how pleased are you to hear about this? >> we're as investors very pleased to hear about it and pleased you're hemping promote it. we're shareholders. but we think that this is one of the things nadella has to offer, it's bringing new ideas to microsoft and helping break the

culture that was more protective and is looking more towards opportunity in the future. >> steve, wondering what you think of the stock's move since nadella has taken over this company as the new ceo? up about 8% since then. do you feel that's justified? i can't help but think to the yahoo! hail oh over marissa may mayer. a show-me story. isn't it? >> microsoft is the a good story before nadella stepped in. it's a material change to the positive, we feel, and so i can see why the stock would be up. obviously, he needs to perform, given that the stock has moved higher, but i think that the, he's got a fairly easy fwoor hurdle and things he can commandeer and create value at microsoft. >> jon, bring you in on this one, because office for ipad certainly might be something people want to use but at the same time does it all come at

the expense of the surface tablet and eastern windows? >> i wouldn't worry about the surface tablet, or windows so much at this point. one thing -- >> why not? >> one thing he said over and over again was interesting. he talked about cloud first. by implication that means windows not first, and he's talking about building applications on top of that. the surface tablet was meant to be a vehicle to deliver microsoft software. nadella is focused on using the cloud and this mobile strategy to deliver microsoft's software. doesn't mean he's not going to do devices but not the primary plethd. the other thing to concentrate here on is price. he's clearly talking to the enterprise, mainly the business buyer. the free version of this software allows you to view documents but not to actually create them or edit them, if you want to do that, subscribe to office 365. still about making money. >> us regular folks, jon, who want to use this. you have to pay for of the service? >> you absolutely do. open an attachment somebody

sends you, can you do that for free. if want to create a document you have to pay. i've used a bunch of premium services, had my frustrations. today after i download this, once i get a look at it, i might actually start paying. >> leave it there. stephen and jon, thanks for joining us. by the way, surface, of course the ipad compare, only 2% of the tablet market. thank you, guys. all right, king's terrible debut yesterday had a lot of people asking if this was the sign of ap ipo market collapse. so far today's trio of ipos put cold water on the fears. that is, if they close up today. bob pisani? >> there's a huge sigh of relief down here on trading desks around town. look at the big three here. trinet, provides outsourcing for human resources. priced at 16 in the middle of the rangs. look at this. $19. up 19%. square one financials on nasdaq. lends to venture bank companies priced in the middle of the range. actually above the range.

square kun financials. you see that stock trading up nicely, $20. finally, biotech firm on the nasdaq. small one. applied genetics priced at $12, below the range, increased share size. 15, up 26%. why is it a relief? because king freaked everybody out yesterday. look at king which is up a little bit today, but that stock was a met opened at $22.50 pricing and ended below $20. everybody saying, oh, my heavens. the ipo market falling apart. now just a problem related to king directly here. put up the big three. i'd be impressed see the gains? if all three closed up double digits, a big success and quiet the worries about the ipo market. scott and mandy, we have five of them pricing tonight. this is going to be a demuchant the next few weeks, the billboard company for cbs. guy, bottom line now is, it looks like king was very heavily shorted all day. a lot of people betting the game

business wasn't going to be successful, but that's different than saying the ipo business is falling apart. >> yeah. >> right now it looks like the problem is king, not the ipo business. >> a lot of question, too. 75% to 80% of revenues from one game. weighing on stocks. thanks. trinet on "mad money" tonight with jim cramer. 6:00 p.m. eastern time. >> something to watch. also besides king a number of notable ipos slumped after their public offerings. like groupon, zinga and we remember facebook. our next guest says they're not all a lost cause. bring in jmp securities president, and herb is here to put in twhois or three cents worth. >> or dollar's worth knowing herb. >> or dollar's worth. far from being flops actually it shows it's a healthy and rational market. explain? >> if you see these notable ipos like king and they come out of the chute and people start paying ridiculous prices for them, that's what we used to see in the late '90s and early 2000,

herb will attest to. this sow me is a rational market, a valuation swhoo rich. stock opened poorly. people are not going to pay ridiculous prices for a company that has really one game doing the majority of revenues. this shows the market is rational, somewhat, and albeit a servant market than we're used to but nowhere near the levels of the late '90s. >> rational, herb, or red flag? >> depends on what stocks are talking about. >> yes, rational, but is king, are we going to look back and say that king was the moment we should have realized that something was awry? >> i don't know. but i can tell you that you will look at something like king and perhaps be a little more cautious in the future on what you think is a hot name. look at the others talked about. forgotten about. the noodles, potbellies. to get to the bigger issue, how does some of this get done? you're in the business. how does this happen that you end up with a situation like to? >> well, it's not that hard to

see this happen. king's got a lot of fanfare. it's a snas has space that has a lot of eyes paying attention to it. it zinga, a poor ipo but recovered from the depth -- s. that a banker -- bankers messed it up. did they not? >> it's a combination. last i checked buyers aren't forced to take stock if they don't want it. it's a level they clear stock at. last i checked this was a spleesplee supply-demand issue. maybe those buying securities should salem take a second look and look at the underwriters and maybe not pricing it for me but for the sellers. that's a larger issue. >> certainly bob has been saying to prove whether or not is just a king issue whether or not is going to create a concern and ripple throughout the ipo market. watch in coming weeks and months, we'll see cancellations or repricings in the market. what do you think? >> likelihood you'll see some of

that is high. you've got a very, very buoyant life sciences tape. a lot coming in the first quarter of this year. >> almost half the ipos. right? >> exactly. when we saw that happen, the last time we saw that was in late '90s when half of the ipos were in tech media and telecom. >> one other thing. historically, from the '90s, we learned from case studies, six months later half trading below the ipo price. the case study looking for in the future is of this period and fascinating to see what it show, because that will about road map. >> the last time we looked at pets.com, our absolute epicenter what was wrong. six months later, they were bankrupt. i will tell you, guarantee you, that six months from now, king is, the revenues will be fine. they're going to be bringing out new games. valued where it should be? i don't know, but i know this is not pets.com 2. >> the ipo up 22% on the first day of trading this year, well

above the historic average's 12 to 13 or 13 to 14%. great stuff. herb, see you lauder. citi's motto informed by the past inspired by the futch. but what is its future knew it failed the stress test? >> a downward dog. mixed earnings may make lulu less of a lemon. the question today will it be squeezed by its competition? oun] when fixed income experts... ♪ ...work with equity experts... ♪ ...who work with regional experts... ♪ ...who work with portfolio management experts, that's when expertise happens. mfs. because there is no expertise without collaboration. mfs. could save you fifteen percent or more on car insurance.s everybody knows that. well, did you know bad news doesn't always travel fast?

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the majority of banks, 25 or 30, passed the bank stress tests. citi fell short of capital requirements. 1 million analysts had strong words about it. kayla toush hausche has been on story. >> been through citi's highs and lows. vocally supportive of management in 2013, but makes turnaround look like it was working. news this week citigroup failed the stress test yet again put him back on the offensive and looking for somebody to take responsibility. >> the cfo was the chief accounting officer going into the financial crisis when citigroup will accounting m mishaps. to years ago turned down. strike two. yesterday turned down again is strike three, you know, it's baseball season, scott. three strikes you're out. s citi needs to replace the cfo. >> and in july 2009 taking the

reins after a dealmaker ned kelly. before that, nelly crawcheck. came on two fronts. management not strong enough. this time around citi has more than enough capital vesting peers and sailing over capitals more than one percentage point. fed officials said in essence citi was sloppy on several planning fronts causing others in wall street to doubt citi's strength the entire year. bernstein saying it could delay more capital returns by 12 mo months and raises questions about its relationship with regulators. in an economy like this with washington calling many shots you don't want your bank ceo or cfo to have a questionable relationship with some of the most important people howho hav the most important opinions on this bank. >> i've never seen him that fired up. looked like he would jump out of his xhchair on the "half time"

show. he says he's going to the shareholder meeting, when being held next month. he still thinks the stock is worthy of a buy, though he dropped the price target, unlike some peers on the street running the other way, he said it's still a buy? >> reporter: interesting. dick on "fast money" saying he would run as far away in the other direction. before last year he hadn't been allowed to go to citi shareholder meetings. then last year bought 100 shares of citigroup when he changed firms and went as a shareholder. interested to see what he actually holds if anything, this year. no doubt, one of the most vocal people on this bank. we'll catch up with him when covering that meeting live. >> citibank officially had no comment to mike mayo calling him tom resign or be fired. we should at least let folks know. although i'm sure they heard his cry. >> and the comment yishg? i was there yesterday.

the quote was sell, sell, sell, sell, unquote. thank you, kayla tausche for details. despite the citi disappointment, our next guest outperforms, a $62 price target on the stock as well. managing director and led of u.s. banking. david, welcome. gop good to have you on "street signs." >> thanks for having me. >> we heard from mayo called for today and he also like you is positive on the stock. why do you still support citi as a stock and do you think as well that gerrishbeck should are fired or resign? >> in terms of the stock, when you look at results, down 6% in the after-markets. i don't know if it's overly helpful to downgrade into that tape. we're about 85%, 83% of tangible book. ask yourself what's the risk/reward going forward? i don't see much down side, and i think there could be scatalys to the upsite as we get more

information why they failed. management was caught off guard certainly. they'll have meetings with the fed. as we reach first quarter earnings we'll get more disclosure. the important concept is the capital is there. it's not as if we thought there's excess capital at citi. got the stress test. now they have to raise capital, didn't have the capital we thought. the capital came in better than we thought. there are proposal issues to get more detail on and clean that up srchl . >> is there a credibility issue with the cfo at this particular time and for that matter some about himself that it's the second time in three years, granted corebat wasn't there the last time, none the less, questions on the street. mayo citing big investors he's spoken directly with questioning that stability. do you have the same concerns? >> i'm not quite there yet. certainly, this is negative for the credibility. most disappointing when you think of corbet and o'neal, chairman of the board, brought onboard here a year ago for

exactly to not have this happen. they were the controls, the, raise the profile with the regulators and fix these problems. but i think the fact of the matter is, they're only really slightly over a year into this ball game. so it might be a little premature for the ceo to take that much heat but certainly this is a ding to citi's credibility from a management perspective. >> nonetheless, maintaining the $62 price tag. move away from that bank and look at other picks here, david. morgan stanley and regions financial. >> yeah. morgan stanley we have a buy on that. they did fairly well in the stress test. admittedly a little below our expectations. what we have with morgan stanley is a revaluation story, as the company's becoming more and more wealth management driv and less and less trading driven. over time there is a multiple expansion story there. we still need a lot of work to get excess capital out of the company and turn around the

trading operations, but we think more than any bank, really, of the universal banks, they've transformed best and ultimately we think regulators will like to strategy. in terms of regions, tom koevs that here at mccrory. we view that as a turnaround story. a lot on the expense side, also we don't think they get credit for how asset sensitive they are. should interest rates rise in 2015 heading into 2016, that couple with express reduction should be a strong capital for the shares. >> appreciate you coming on. switch gears from banks to retail. shares of lululemon rallying up 5% after putting mixed quarter results this morning. the ceo joining courtney reagan earlier on for an on the record interview. this is some of what he had to say about working to fix the brand damage resulting in the share scenario saying lululemon lost its voice and stop sharing what it stands for and how it

gives back to the community. joining us from midtown, cnbc retail analyst stacy of retail advisers. stacy, we started off the segment saying it was a mixed set of results, right? because they actually cost earnings revenue below forecasts. wipe do you feel the street is giving them such a pass? >> the expectations going into the quarter were incredibly low. the quarter was fine. beat slightly, but guidance was really, pretty bad. below the street. that was expected. most analysts were out there calling for well below street estimates. so in some sense they got a pass here, and i think you know, today they're using words like humility, like inclusive. in other words, you know, they had a lot of p.r. issues in the past year they're trying to clean up now. we all recall the co-founder coming out talking about women and pilling and not everybody's being appropriate for the product. so fixing a lot of those issues. >> what about the gross margin issue? wasn't that the biggest concern going forward? >> absolutely. this is a company that had mid

to high 50 gross margins, that's coming down steadily over the past couple years and really interesting. today they're saying, seasonal product, in other words, more fashion oriented product. not the basics, is selling really well. so they're going to press the pedal on that, bring more of that inventory, that carries a lower gross margin. we're looking at a new gross margin reality, in order to get comps moving again. >> you probably have some short covering today as well given the high/short interest in the stock? >> absolutely. >> that has to be why the stock is up to the level it is. the ceo said they lonst their voice. can they get it back when others in the space are yelling louder, the nikes, the under armours et cetera? >> part of the problem with lululemon was self-inflicted. the other part is the competition, you just said. not jut ath letta from the gap coming into the space. forever 21 launch add line.

urban outfitters launch add line. what they need to do is get moving. clean up their reputation. get that loyal customer feeling comfortable again about the product and about the p.r. aspects before they get run over by all of these new entrants coming into the space. >> got leave it there. stacy, always great to talk to you. thank you. >> thank you. still ahead, a google stock split causing mass confusion amongst shareholders causing investors to dump shares. could this be a great buying opportunity? first, how americans were invest in one of the world's most untapped markets. with all the opinions about stocks out there, how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research providers

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welcome back. cuba is about to relax investment rule togs allow foreigners to fully insflefrt that country. before investors had to establish joint venture with cuban companies or the cuban government. there may be a hidden agent da beheiss thinned move. >> it's not a big deal for americans. a clause in the in1re6789 law definitely suggesting a new agenda. the new law expected to be approved saturday. kez soviet union whose left cuba are living in exile, allowed to invest. cubans who still live in cuba

are not allowed to invest. why do this? the greatest concentration of cuban exiles are here in the united states. because of the united states embargo those living here are not permitted to invest in cuba. the cuban government can permit whatever they want but it's academic, because the other side, the u.s. is prohibiting the investment. is there a work-around? in theory cubans living here could give money to relatives living in cuba and in theory use that to invest, the proxy, so to speak, the cuban law doesn't allow the cubans living thereto0 do that pes believing this was done to design kins to lobby the u.s. government to end the embargo. >> how successful do you think they would be with that? >> we're getting closer and closer. one of the agendas between the pope and president today, the cuban embargo. so the tide has moved when it comes to political opinion among

cuban exiles. we're closer than we've ever been. >> in infrastructure more than anything else? >> in anything. they have nothing. they don't have consumer goods. i mean, you name it, and it, you could invest in it. >> salivating at this untapped market. >> right. >> indeed, talk how we can invest. tom manages the hertz feldt caribbean fund, ticker cuba, a tine fund, only $32 million in assets but trading volume went absolutely nuts yesterday on this news. according to facts said, trading volume in the cuba fund averaged about 14,000 shires per d share day. yesterday, jumped to more than 248,000 shares. tom, obviously everyone is excited about this. as michelle tried to temper the excitement a moment, should we not get ahead of ourselves or are there ways we can invest? >> i agree with michelle. that the ski that u.s. investors

are still not permitted to make investmentses in cuba, but it does show that the cuban government much more interested than they have been in a long time in encouraging foreign investment, and i believe that the united states government is on track now to lift the embargo. >> you know, though americans can't invest there, how should we think about risk, sayy, security, of one's investment there at the present time? >> well, the way we manage it in our fund, it's a publicly traded fund, it's that we've been investing in companies throughout the caribbean, which i are doing well now. which stands to benefit if the embargo is lifted. and many of the -- it's a strategy that's worked well. the net asset value originally was $5 a share. it's about $9 now which paid out over $5 a share. so it's a strategy that's

worked, and we've positioned the portfolio very strongly in companies that we think will do quite well once the trades resume in cuba. >> let me talk about top holdings there. seeboard, coca-cola, mensa, lennar, builds houses and communities. what about hotels? like what about the marriott? what about some of the other sectors like, i don't know, beer or some of the other sectors that could maybe potentially take advantage of this once it opens up? >> well, all of those, mandy, makes sense. take, for instance, wasco, one of our largest holdings that sell air conditioning. the entire country of cuba will need air conditioned, or some of the companies, you mentioned infrastructure. for instance, martin marietta materials. and we own two companies that are in the aggregate business. enormous trade with cuba.

>> got to leave it there. >> culpa holdings, of course, operates the airline to currently operates, has flights to cuba. so their traffic will have a significant increase. >> another one to watch. tom, thank you very much for filling us in. we have breaking news now with john howard. >> reporter: mandy, the white house is announcing what it considers very welcome news about the affordable care act, which is that with four days left before americans ask to either enroll in insurance plans on the exchanges, if they don't already have coverage, or take an initial step to enroll, 6 million people see far they say have signed up for private plans through either the state or federal exchanges that are offering those plans. now that would match the total that the congressional budget office most recently projected. initially, cpo projected a 7 million person signup. that was revised downwards after

the sda disastrous rollout last fall. this is not determinative of what the final enrollment will be and we don't know the mix. the most crucial thing for health care exchanges is not the total volume of people involved but the mix between younger, healthier people and older less healthy people who are more expensive. you need the premiums from the young and healthy to balance out the older, but this is while we still have another half of week before the deadline ends, this is positive news from the standpoint of the administration. >> john howard, thank you very much for the breaking flus. indeed they wanted the youngsters to sign up. coming up, the shot ifgun and slot. he's back. he says it's complicated. revealing the single best place for first-time home buyers in the market. here's a hint. it's a steal. but i didn't always watch out for myself. with so much noise about health care, i tuned it all out.

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sweet talk time. >> upgrade, conviction from buy over at goldman sachs. >> goldman point-the-poiing post creasing value. a clothing company in money hatten. stock trading higher by 9%.

getting a nice pop of 1.7%. >> caesar's entertainment announcing plans to close one of its casinos in mis. >> stock to the down side. casino and hotel corporation closing the tunica casino june 2nd saying the location, increased competition. the usual reason people close their businesses. >> cabela's now, credit suisse sighting concerns on cab. ticker symbol. note it may provide a buying opportunity. >> yep. talking hunting, fishing, outdoor gear. credit suisse says cabela's reinforced multiple growth opportunities. reading outperform. price target, $72. at $64. a little wait to go. >> nimble storage mentioned positively at pacific crest. >> the firm says nimble should release a scaled out version of its storage software within the next two months. should help expand the companies

reach into the cloud. everyone wants to be in the cloud. and also should help the customer footprint. shares at outperform. target $62. at $36, lots of up side. >> pretty good day. nimble. and google, online search preparing to launch a dividend, offering new shares next week. the confusion about the different chases weigh and the stock, falling from its recent high, should you buy in today to get in on the action on the technicals? rich ross, and fundamentals, brian weezer of pivotal research group. great to have you with us. brian, how will the stock split impact the stock going forward? >> well, i'm not inclined to believe it will impact it much. i don't think any investors expects to have control of this company. you're basically along for the ride. that said, i think that investors will focus on top line a little less than they have, as there's a derisking. my view is a bit more tepid. i think investors aren't giving in to market compression, a real issue. >> rich, what about the

technicals? look at what the stock's done this month. like a lot of tech, it's lower. >> high-flying tech stocks like google, facebook, the social networking space. when you bring up that one-year chart, let me set it up for you. how i would trade the stock. last year you see that five-month consolidation, well defined trading range. an explosive upside break. settle into the nice trench which takes us up anothers 3 $3. break down from the channel, bad. take out the 50-day moving average. 1yu679 today plunging through the 100-day moving average. the nasdaq trying to carve out a bottom here. vis-a-vis, key intraday reversal. watch that 1124 number as a key level of support. i actually think google trades lower, though, scott. we could test the 2 thn d00 day average. another down side from here. watch out. more importantly, when we zoom out to the weekly, we see this stock intested its 50-week

moving average snore time bringing you down to 998. that magical 1,000 level. a total 20% decline from the top. that's pretty standard stuff in the life cycle of a tech stock. be careful here as a trader. try and play that 100-day around 1124. as an investor, you want to wait for a more compelling entry point. >> sounds bearish on the technicals. thank you for joining us. next up, herb puts a big solar company on his watch list. why he's calling it the most complicated company he's ever seen. ever seen. herb said that? man. must be very complicated. and what is the best city for first-time home buyers? a hint for you. it is the birthplace of andy warhol and kristinia aguilera. the answer coming right up. bill griffith, what are you watching? >> market struggling for direction again today. bill miller with us exclusively to help get your portfolio back on track again.

kelly asking where he's finding opportunities in this choppy market. also, we look at whether you are better off investing in the u.s. or those beaten down emerging markets. is now the time? we look at that story, and the rough debut of "candy crush," king digital. everybody is asking the same question today. is that a warning the red hot ipo market has overheated too much? we'll get to that much and more coming up at the top of the hour on "closing bell." kelly and i will see you then. tdd#: 1-800-345-2550 trading inspires your life. tdd#: 1-800-345-2550 life inspires your trading. tdd#: 1-800-345-2550 where others see fads... tdd#: 1-800-345-2550 ...you see opportunities. tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 we have intuitive platforms tdd#: 1-800-345-2550 to help you discover what's trending. tdd#: 1-800-345-2550 and seasoned market experts to help sharpen your instincts. tdd#: 1-800-345-2550 so you can take charge tdd#: 1-800-345-2550 of your trading.

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a fresh sign humanity as we know is coming to a swift end. offering a social media wedding concierge to anyone getting married at any new york hotel. what is a social wedding co concierge? tweets your wedding. it costs $3,000. >> just for somebody to live tweet the wedding? >> this is the ultimate in narcissism, plus, why would want to tweet to people you didn't invite to come see my wedding? it's ridiculous.

>> presumably if you wanted it, some somebody there live tweet it who's one of the guests. i don't know. three grand? >> $3,000 is absolutely ridiculous. i'm not interested in anybody's wedding unless i'm invited. in for the kiss, i don't care. >> herb is here raising red flags on solar city. a stock up 5% so far this year. you say the company is too complicated for its own good. there are others who would say, it's not complicated. it's elan musk. not complicated. all i need. >> there's the reality check. put it out the other day. thought i would just look at the company. as i dug into the 10k and started looking i realized, my gosh. they used the word complex or a variation thereof six times in this 10k. one time more than year earlier prp look how the company is, how it's value and wall street, value and something called retained value. the equivalent of saying discounted fasch flow 20 years

out. what i found most fascinating, the industry, the company has what they call useful life. under solar panels, for 30 years. what they write off the cost of creating these. 30 years. who knows what will happen in 307 years to solar. one or important thing. this retained value. retained value 30-some percent of retained value for years 21 to 30, assuming a 90% renewal rate. i don't understand that. when you look at the company, you see they're growing like gang buster. >> saying business is booming. >> 32% of the market. business is booming. they have a forecast on the year for the end of 2014, of 475 to 525 megawatts. interesting about this, that's a huge increase. they are under tremendous amount of pressure to make that happen, which means they're going to have to get a lot of sales people and installers in there. with a quality, you want to look at the quality of all this. what will be quality be going forward? >> the thing, salt lake city,

the proxy for the entire sector. >> yes. >> shares down 26% over the past month alone? >> how much is that is -- >> how much at the -- >> 32% over the last month. >> under a lot of pressure. now 32% over the past month. >> a little after i did my original report, down, too. >> and scotty referred to a touch, losing its shine. >> let me explain something. there's tesla and solar city. two very different companied structured differently. one thing they share in common,. on solar, two years out, could be issues. a company you bought because you say it's solar and elan musk, she have to make real money at some point. what is it? how can you figure it out? >> it's just too complicated. >> as complicated as it comes. complicatedopaque is usually a reserve. >> thank you, herb.

and first-time home buyers. last hint. smiley face emoticon born at a college in this city. we're going to reveal the answer next. assuming you haven't guessed it by now, which is probably -- >> clue, christine aguilera born there. and talking to an agent behind one of the most expensive real estate listings in all of manhattan. here's a word you should keep in mind "unbiased". some brokerage firms are but way too many aren't. why? because selling their funds makes them more money. which makes you wonder. isn't that a conflict? search "proprietary mutual funds". yikes!! then go to e*trade. we've got over 8,000 mutual funds and not one of them has our name on it. we're in the business of finding the right investments for you. e*trade. less for us, more for you. the fund's prospectus contains its investment objectives, risks, charges, expenses and other important information and should be read and considered carefully before investing. for a current prospectus visit www.etrade.com/mutualfunds.

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all right. the harsh winter sending pending home sales to the lowest level in three years. realtors are hoping first-time home buyers will help heat up this spring selling season. so where is the best place in the country for first timers? diana has the answer. >> hey, this is really a crucial segment of the market. first-time home buyers have been largely left out of the housing recovery because of competition from all cash investors, fast-rising home prices and tight credit. those home price gains are starting to ease, and investors

are pulling back a little bit, so spring may be a great time to get in. the question of course is where? realtor.com put out a list of the top ten markets for first-timers based on five factors. that is market market popular y popularity, prices, inventory, time on market and employment. the winner is, drum roll, pittsburgh, pennsylvania. then you have tampa, florida, and philadelphia. they're ranked the highest, mostly because prices have not spiked much there and the unemployment late is lower than the national rate. interestingly, phoenix, arizona, made the top ten. we all know it was one of the hardest hit housing markets during the crash with prices literally falling by more than half from peak to trough. investors targeted that market early, buying thousands of distressed properties at deep discounts and driving prices up again by double digits. very quickly, still, it's on the list because investors have really priced themselves out of the market. the inventory has jumped. it's up 47% in january from a

year ago. you also see dallas and ft. worth on this list. those markets are very hot, but the job growth is really strong there. plus, there's a lot of buildable land. that is a good sign for inventory rising there. something else that the ceo of move told me, the company that runs realtor.com, is first-time home buyers today are actually a larger group and an older group. why? because they sat out the last five years in the market, which could mean once they start getting back in, we could see a real bump up in demand. we've got plenty more of this online. realtycheck .cnbc.com. back to you. >> thank you so much, diana. by the way, one of our hints for the top city was the smiley face emoticon. it was created back in 1982 by a computer science research professor at carnegie mellon in pittsburgh. >> who knew? i didn't know that. we turn now from first-time home buyers to the super, super rich buyers. one of the hottest spots for high-end real estate right now is new york city.

and who knows the market better than your next guest? joining us now from bravo's hit show "million-dollar listing new york" is ryan. >> thank you for having me. >> tell us about the high end. who's buying? where are they buying? give us the scoop. >> i do my best to get them to buy in new york city and through me. naturally. but everybody is buying. year over year, it's not just internationals anymore. people are talking it was the russians and the chinese. but now it's everywhere. it's the guy who's looking to use the cash he's been sitting on for five years to put into something that he feels is a good, tangible, appreciating asset. >> you're currently trying to sell, like, a $23 million property in chelsea. >> yes, west chelsea. >> there were some ridiculous features we were talking about in the break that i know we have video of. i want to see those. tell me about this property. >> this is penthouse one. it's the last available property in 211th avenue, which is a

building known as the sky garage building. there's only two buildings like this in the world where you drive off the street into an elevator for your car, and the elevator takes your car to your apartment. so then you have your own personal garage, but the garage is next to your kitchen. so your garage has some of the best views in the entire city. and this apartment specifically has the individual car, elevator, and garage, but it also has this new sky vault, which basically when you want in your stairwell, you can have it. when you don't want it, you don't have to have it. >> very quickly, season three is beginning next wednesday. >> yes. >> what is the most dramatic moment that we should be all watching out for? >> oh, man. i don't think i can tell you. i think it definitely happens in the first episode. the three of us are thrown into a pit. then it's just realtor craziness. just like that. >> how long has that property that we saw been on the market? >> it's not even finished yet. hopefully by the end of the month. we're featuring that in "million-dollar listing" this year.

>> have you seen "bbidding wars? >> all over the city. the average selling price for luxury is up. average days on the market is down. price per square foot is up. good time to be a luxury realtor in new york city. >> absolutely. i think it's a good time to be a realtor anywhere. the harder you work, the better you can do. >> ryan, thank you very much for giving us the skinny. we can catch you on season three of "million-dollar listing new york" this coming wednesday at 9:00 p.m. eastern on bravo, which is our sister network. will burritos win the $50 billion battle for breakfast? jane wells is digging in. >> mandy, how do you want your eggs? on an english muffin, a waffle, inside a tortilla? taco bell is throwing down the gauntlet. next. ♪ [ girl ] my mom, she makes underwater fans that are powered by the moon.

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taco bell getting into the $50 billion battle for breakfast with its new menu today. here's the question, jane wells. does a 3:00 a.m. munchy run count as breakfast? because i know you've been there at 3:00 a.m. with the rest of us at times. >> you know, the funny thing is, they're not starting it at 3:00 a.m. at the earliest, 6:00 a.m. how hard would it be to start it at 3:00 a.m.? would it cost -- you could easily scale up if the command

reaches that. the first guy in the door this morning at 7:00 a.m. ordered 26 waffle tacos. taco bell tames aim at mcdonald's, like direct aim. >> ronald mcdonald. >> i'm ronald mcdonald, and i love taco bell's new breakfast. >> the other ronald mcdonald, the other one, dominates the fastest growing part of fast food, breakfast. taco bell hoping to take a bite out of that with its biggest menu rollout ever. the company says there's not a lot of extra equipment involved. the manager here tells me it's a matter of utensils. they're not frying up the bacon and eggs and making waffles. most of the product arrives premade. the eggs taste fresh. the waffle tasted a little like an eggo. but this is a jobs creator. at least three extra employees per store are needed. some higher staffing costs. taco bell hopes to gain ground by creating portable, handheld breakfast you can eat on the go.

speaking of handheld, you have to see what business insider found. look at this taco bell handheld commercial from 2012. watch. >> pdas, handhelds, i've seen these. what do we have that's new? >> this just came out. >> interesting. >> that's the new taco bell chicken quesadilla. >> that is jeff bezos promoting the kwas dee ya. >> thank you very much, jane wells. thanks for watching "street signs." "closing bell" starts right now. and welcome to a very special edition of "the closing bell." i'm kelly evans here at the rise forum at the university of dayton in ohio. this is an event, bill, featuring current and future leaders of finance. there's some added excitement here on this campus because