that was a heated debate. >> hotter than the walmart debate. that does it for you. see you tomorrow. "power lunch" begins right now. halftime is over. the second half of your trading day begins now. >> and coming up this hour, a bio stock that many analysts believe will quickly double to $100 or drop below $40, and it all hinges on one detail. one of that story straight ahead. the ad hoc, but very dangerous sunni army marching towards baghdad may be turning its focus on jordan instead. they said they want to kill the king and made major progress en route to ayman. amman. a major announcement today about

a driverless car. one could be on your screen within six months. >> simon is joining me today. >> on friday we hit fresh all-time highs, taking a bit of a breather so far, today at least, as we embark on the afternoon session. it's interesting, of course, the s&p 500 is up about 6% year to date underperforming, the dow is up about 2%. one of the major reasons to that is 23 of the dow 30 stocks have hit 52-week highs, seven have not. so are they now poised to catch up? and can you make money from them? dom chu is on the case. >> so, simon, yeah, those seven stocks have not made 52-week highs so far, but we looked at them to see what the stars are. is there a way to help thing out? because all seven of them, none have gained value since the dow

first 4i9 16,000 back in november of last year. number seven here, which is nike, year to day shares are still down 4.5%. there's concern right now. obvious lir the world cup is kicking out of. adidas versus nike, but for nike shares they have been a laggard. number six is general electric. they're trying to by for energy assets in france, now the question is, did they pay too much? this stock is still down, and it's down from the last time dow hit 16,000. walmart, these shares have been a big laggard for the dow ever since the dow hit 16,000, and continue to be laggards so far this year down 34%, despite the fact that the dow is still making record highs.

you can see there ibm, those shares have been the single biggest drag on the dow for quite some time. the reason why they're one of the most heavily weighted stocks in the dow. they're still down 3% year to date. number two is procter & gamble, the consumer products giant and there's a concern here that perhaps some staples stocks may not be doing so well. number one is an interesting one here. you don't often think about it as one of the best performers, verizon -- again i'm sorry i lost track. number two is verizon. number one, and this is the one i really want to get to, because it tells an interesting story. cisco systems, a stock you don't think about as leading the dow higher, one of the best

performers, up about 15% just over the last three ponce. gin these a stock that's been doing great. the question becomes whether or not it can continue the next leg higher. remember, the only run is that with cisco, microsoft, intel, they're lower priced stocks. even if they don't great, they don't have an much of an impact on the overall index. >> dom, thank you. how should you play those seven stocks? kristina hooper is at alliance. >> if you look at each of the individual names, i think what's going on here for a lot of them are fundamental stories, whether it's with walmart or nikes. there are fundamental reasons why ibm is sort of doing poorly.

by the same token, i think cisco did poorly last year, has given investors more confidence on the ability to transition and perhaps that's why it's doing so well. for some of the other companies, there are fundamental reasons that are driving the underperformance. i know you don't talk individual stocks, but i do like the large cap. if a stock has been lagging in underperforming, but it's a large cap, would that fit your criteria? >> absolutely. >> a lot has to do with the investment time horizon. they should have adequate exposure to large caps. it looks like small caps will continue to outperform this year, and that's largely because of monetary policy back drop, but at a certain point, that will go away, the fed will become less accommodative, and the investing landscape may return to a more normal environment. weigh in on why the individual

investor still seems to be favoring fixed income versus going into the equity side of the equation. >> i think if you look at the equity market -- i would disagree with the last speaker. i think actually if you look at the russell 2000, the average stock is down i really do believe that as the u.s. economy continues to pick up steam and interest rates move higher, the smaller and mid caps will start to gain on the larger cap for the better economy -- with the better economic improving. i do think, though, for the average investor, since 2008, there's just been almost post-traumatic stress disorder, so bonds and bond-like equities have been the source of funds. a lot of that has been helped by quantitative easing. they accumulated nearly a trillion of mortgages and treasuries, and there's a whole bunch of securities that get

priced off that. the problem is the fed is pulling back. as the economy improves, that yield curve will move higher, then there would be a shift in money, but right now if you look at the utilities up 16% this year, that should be a source of funds in terms of. >> are you worried about the scenario? there are something who think rates may move too far too fast. >> we're certainly concerned about the interest rate scenario, from the perspective that the fed has monl moved the goal post, but changed it when it comes to a trigger for raising the fed funds rate. now it's a mosaic, so that does create a level of confusion in the marketplace, and there are those thinking that inflation could hasten the fed's reaction, and could hasting the rise in rates, and there are those that believe something like housing could be something that post ponce the fed's raising of rates. so there are a lot of questions

out there, there's a lot of confusion, and that only adds to the environment right now, but recently we have seen those big-cap names start to underperform. that is likely because of the fed's more dovish comments that it's made, certainly more dovish than expectations recently. >> all right. we have to leave it there. thank you both very much. we've been talking about big caps. we're going to ask you about a big cap coming up. it's ibm, the stock is down 7% in a year, down 5% in just two months. do you think big blue is a good stock to buy at these levels. ? you can go vote at cnbc.com/vote, and we'll give you the results. a bad situation may be getting much worse in the middle east. michelle caruso-cabrera is our chief international correspondent. she just literally got off the plane from northern iraq. she's back with us. >> and there's more to tell you about. john kerry arriving in besieged iraq today to meet with nuri al malaki, as they talk more are

falling to the al qaeda-linked sunni group, and moving closer to baghdad. take a look at your screen. this is a border checkpoint between iraq and jordan. intelligence sources say sunni tribes this seized control of that border after armies pulled out of the area. this video presumably shot by the sunni rebels. it could not be immediately authenticated. they have vowed to kill king abdullah, the leader of jordan. yesterday an antitank missile hit a water truck killing a 13 years old bon. the israeli air force struck back hitting targets on the sir yarn side of the border. hamas is vowing a third intefad intefadah. sue, back to you. >> sue, thank you very much. given what michelle just laid out, how should the oil market react?

peter, you know, michelle just laid out a very compelling case that normally would put oil higher, but you think it may by going lower, why? >> i think a lot of the fear has subsided. as far as the ports in basra go, they have always been secure and they are secure right now. i think that's starting to simp into the market a bit. the brent wti spread started out around $5 when it first started. it's moved out to almost $10, and we've had a pretty good run in the brent, in the products, and it only makes sense that now that some of the fear has subsided that it quieted up like that. >> so what's your targets near term for oil? >> there's no real target to the up side. it just depends on how the news comes out and if these ports are affected. >> peter, thank you very much. >> you're welcome. over to dominic chu for a mark flash.

>> utility stocks are the single worst-performing sector in the s&p 500. despite a huge boost from integris, the sector is down about 0.7%. it's siring on the latest m & a move of the summer, so simon, utilities down big, but at least one stock with a nice day. >> dom, thank you, another day of key housing data is out. existing home sales posting big gains. diana? >> reporter: home sales took a larger than expected bump up. that was just because there was so much more on sale on the market, the trend is continuing. you could see this neighborhood in northwest d.c. was positively littered with open houses. inventory bumped up 6% from a year ago, which also helped to ease those price gains we have

been seeing. that's the slowest jump since march of 2012. the sales gains, though, were not seen nationally the sales way up in the midwest, possibly that pent-up demand from the bad winter, but in the west sales were barely up 1%, and were down 11% from a year ago. now, realtors reported a drop in distressed sales, the lowest level since the realtors began tracking this number, just 11%, were distressed sales. investors made up just 16% of the market, again very low. all eyes, of course are on interest rates. interest rates today are actually the lowest -- they're down from a year ago that was the first iltime in a year. we'll be watching that's correct and of course there's always more online. simon? >> diana, thank you very much for that.

diana olick with the latest. let's turn to the ipo surge, which is on down here at the big board. it will be one of the biggest judges in 14 years. here's a few things to point t out. remember that? they did 500 each year. so it's half of what it was in the last real bubble, and it's not as frothy as the return, so in that year, 50% gains on the first day. remember that? this year it's more like 10%, 15% gains, much more modest. the ipo market will follow equities. if equities are doing well, the

ipo market will usually do well. look at the ipo etf. that's how you track them. this is a basket of about 60 ipos that's when we -- frothyness ipo slowed down, and now they have come back a bit in june, up about they do term i next, the termite company as well as home services, and michael's, we will have a chinese internet company. so a whole basket of different kinds of companies coming this week. frothy, maybe a bit up there, but i don't see the prices running away. >> i like the use of the word real bubble.

>> we seeked that. we're not seeing those kinds of numbers. >> and everybody thought they were so clever at the time. thank you very much, bob. meantime, we're getting a major announcement that's up next, plug meg on two pharma stories. >> that's right. next up, a stock that could jump to $100 a share or drop like a rock. it all depends on one single event. >> which -- more "power lunch" in two minutes.

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welcome back. lu lu lemon is soareding on reports that he may even form a team to take the retailer private. they gave back much of their gains midmorning. they're up about 3.5%, simon, on today's session. fire season is on in southern california. this blakz popped up yesterday in glendale in los angeles county. more than 200 firefighters are working to put it out. no evacuation, sue, as of yesterday. >> fire season came early this season, though. pharma is in focus today. more and more companies using a combination of drugs to battle disease from multiple angles. that's creating one of the biggest recent events. so set your google alerts.

meg tirrell has more. >> they're report on a combination of drugs for cystic fibros fibrosis. cf is a rare inherited disease that causes lung infections and other problems and can be fat albie 40. here's what you need to know. >> cystic phi browse is caused by mutation to a gene. when the gene is defective, the protein it creates can't help fluoride escape the cell. that leads to the production of thick might be us. the first medicine to address the -- was kalydeco. only about 2,000 patients with cf have mutation that kalydeco can currently help. the bigger problem is the protitian can't get to the d.

vertex is testing a new drug. the combination of both dug could help more than 14 times as many people. that bigger patient population also means bigger business. with positive data, it would be a huge driver for vertex's stock. it's currently trading around $67. analysts say positive results could drive the stock past $100, whereas negative data could plunge it boo the 40s. either way it's a risky bet. why cystic fibrosis affects few patients. it's priced at $250,000 a year, all together, analysts estimate vertex's cystic fibrosis medicines could bring in more than $5 billion. >> before we go, you mentioned pricing, but there's a lot of

pricing pressure, so the industry is trying to rein in its costs, about you what companies stand to lose the most as that process continues? >> that's an important question, one of the biggest issues on the industry. from diabetes to as ma to hepatitis-c, one area in particular, drugs for macular degeneration. it's the most common cause in blindness in the elderly, and there's competing drugs, and they each drew almost $2 billion in sales last year, but another drug that doctors are using avastin, it's approved for cancer, and words in the same way, but in a dose eye doctors would use, it costs a fraction of much. instead of about $2,000, it's about $50 a dose. regen ron stock took a hit last week, as pressure from insurers to use lower-cost options mount. it's just one example in many on the increasing pressure on drug

prices. back to you, sue. >> thank you so much, meg. simon, down to you. check out shares of parkers vision, after a judge threw out the $173 million patent suit division that parker had won against qualcomm over wireless networking. parkervision says it will appeal the ruling. meritor also taking a hit, it agreed to settle the lawsuit much less than previously expected. -- that could possibly explode. takata also thinks it replied to bmw, chrysler and ford. mean time, our partners breaking a big story, a company

call cruise, with just eight employees, will adapt cars for driverless technology. they, the first customer should have everything installed, therefore, by early next year, according to cruise's kit is for the audi brand of car and costs about $10 thousands. the kit is programmed for automated driving on highways in the san francisco bay area, but they say that's likely to expand. only 50 kits will be offered at first. nbc nightly news will have more on this tonight, but you can read more right now on cnbc.com. >> joe if i would ever use one of those, simon. we'll see. let's check out the energy stocks. on a steady up march. will they continue to be a good bet? we'll talk about that. we want you to vote. is ibm a good stock to buy right now?

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we have only a modest move to the up side today, and the biggest move around the date is

copper. which is better than 1%. so you're up to date. >>. we are just 90 points shy of dow 17,000. the first time we flirted with that was last friday. rising more than 14%. can it abigail, can it keep the top spot? >> well, simon, there's no doubt that 2014 has a tres year, and this seemed likely. on rising crude owl. if the dow goes above 18,000, energy will clearly have that

top spot, but i think it will be short-lived. a lot of the names look frothy, if not overbought. and it may by time to start taking profits. conoco phillips, chef roll and royal dutch shell are particularly vulnerable. even if oil guy a be heighter. i think -- similar to what we saw earlier this year. cloud are to seven or eight, bill barrett corp, that's a great name to take a look at. i think it could rise if natural gas dose higher, which seems likely. >> we happen to like chevron, and we like the oil services

space as well market vector oil services, oih, is a agreed way to get exposure to some of oil services companies. if we see oil stay around the current levels, capital spending will pick up and those companies could do well. >> thank you both for the advice. we're going to check interest rates today. rick san telle is tracking the action at the cme. >> hi, sue. even though the world is focused on different aspects, it doesn't like to be watched, apparently, because it's hunkered down. look at a two-days chart. it says it all. you've had a bit of an up tick on yield, but for the most part,

since then weeb ebb we've been doing a lot of work under yesterday friday's yield range. you can definitely see the etfs are having a strong day with regard to things that might not be as solid as treasuries from a credit perspective, hovering at the highest yield since may of last year, and speaks of currencies, if you look at a ten year, it would been associated with a dollar/yen. as sue is, to the interest rate complex. back to you, sue. >> thank you very much, rick. a closer look at the ipo tsunami. second half trades, and whether the dow stocks not hitting 52-week highs this year are a good investment. that's all straight ahead. plus we zero if on ibm. do you think big blue is a buy?

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welcome to the jersey shore. remember the movie "jaws" was base odd a series of shark attacks on the jersey shore. they are actually trying to tag a great white in order as to track it. i think they're going to need a bigger boat. >> i know this do, and i'm not going in the water.

i don't thinkd dom chu would, either. my wife is from the jersey shore, so i probably will stay away from there as well. traitor preeltr pete najarian set his's long the call options. you can see just off session highs, but a nice move. these tooks can be very volatile. >> and i think he had a short position in it, too. >> time for the "power lunch" countdown. jim iuorio and jeff kil berg. the likes of ibm, verizon. ge. nikes, wag mart. i biismt m incidentally is our live vote question. let's zero in, though, on the

others. we're going to start with verizon. jim, do you like it at these levels or no? >> i do, but a caveat. there will be a theme to my theory here. >> okay. >> i like big caps in general. if you look at the european bond mark, verizon gives you a 4.2 yield. where would you rather put your money? it goes above 50. technically, i think that's where the answering point would be. >> jeff, what about you? >> well, it is jimmy ace birthday. he turned 85 earlier. >> honestly. >> i'm opposed. i think there's great names to talk about here, but i want to buy it as a better price. unless you come down to 16,000 verse 17,000. >> jim, what do you think sniismts namee is the one i like the least. we're reminded of somer and nike is not that big in soccer.

adidas beats them in europe. i would hold it if i had it. >> i'm going to hop in. 24% is the one-year performance. i think it's a great stock, but again, you have to buy this lower. >> walmart, what do you think? >> walmart is one of the stocks where you want to get in. but i think when you see the correction, if it ever comes, sue, i think walmart will outperform. i just can't buy it up here. >> i think it's -- it's a small, midterm downtrend, but i like what they're doing as far as online, so i would be a buyer of walmart in the 74 region. >> now, jim, i'm going to give you p & g, and jeff, cisco. >> p & g is the poster child for a little bit of risk. as a matter of fact, i had a position on recently that expired, because it was a call position, which, by the way, another calvia, most of these

positions i would replicate with cheap calls. you're going to limit your risk and calls are cheaper than they have ever been. >> and cisco, jeff? >> cisco has been a huge momentum, so i think cisco, again, i hate to beat a dead horse, i'll just beat up iuorio, but honestly you need a better entrance price on these names. and ibm is underperforming the overall dow 30, can big blue power ahead? jim, you first. >> no, actually the mac has not forgiven them. i think if it trades 180, 170, it's a perfect sell candidate. the market thinking this price is too high. >> jeff, do you agree or more? >> i think all these dow big dogs are exhausted up here, but i actually like it.

what have they do? they've been crushed. when you see them moving that cloud computing, i like the fact. however, the experiment of replacing revenue with higher market business, that's yet to be seen. >> i think for some reason it's the whipping boy for the market right now iismts i like it ten dollars lower. >> let's see what the viewers think. bell, 43% said yes, it is a buy. >> oh, the birthday boy. >> that's right. that's right. we have a tsunami, 18 companies set to price this week. if all price, we'll have 38 ipos for june, busiest since june of 2000. are you staying all august tore? jeff, you first. >> well, i like go pro this week. it kind of jumps off the page. it's just a fantastic company. the only thing i don't like about ipos in gen, you don't

know -- and half of those proceeds are going to inside sharers. so do your home work, wait for it to sell, because there's a lot of emotion on the first day. >> there sure is. jim? >> i like fundamental analysis, but i like technical analysis, too, and you can't gauge sentiment when it has no chart. that -- it has no option market, either. that being said, t.a.g., you a stay around from the ones i think are probably hyped too much. the one that involves winemaking, apples and real estate in the pacific northwest, i'm interested in that. >> as all 85-year-olds are. >> it sounds radio mantic, doesn't it? but i like the notion of it, but i want to see how it trades first. >> finally, one trade each. what's your best bet for the second half? >> i'm going to go with gold. i think when you have two out of

the big three central banks, adding liquidity at break neck pace, you want to be long gold. >> i think you want to own volatility. it's an unnatural. go long vol. >> thanks, guys. happy birthday, jim. >> appreciate it, sue. the french government is finally backing general electric's deal to buy, but it comes at a cost. plus the -- what hard-line extremists in iraqer now attempting to do, and what the rich fear the most. it's not losing their wealth. the power rundown is next.

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a study says one in seven multimill yor nair or billionaires worries that their wealth is -- i'm not too surprised by that. >> the richer they are, the more concerned they become. you know, i -- i guess obviously you say you're not goods to pass your fortune onto year children, but to be honest, but if you've got the best education, the best advice, the best career ideas that you'll get from good parents, they probably can be afford to be less motivated slightly. >> what do you think, julia? >> this isn't the first time we've heard this concern. it was warren buffett who said he wanted to leave his children that they could do anything, but not that they could do nothing. it was okay to open doors, but that hi kids shouldn't be able to loaf around. talk about rich people's problems, certainly not something the rest of the 99% have to worry about. but it seems to be a concern. >> let's move on to i.s.i.s.

julia, it's very frightening to me. >> social media is being used as a weapon, and it seems to be being done that twitter couldn't, but being done very intelligently. the iraqi government has been trying to block twitter in order to make sure that people can't access this, but twit ser one of these servicesing that very useful in revolutions of all kin kinds. >> i think that's one of the big dangers with social media, that you can spread lies and inflame situations without being checked, which is why so many companies have social media teams monitoring what's being said. if hitler were alive today, he would be a prolific tweeter. the question is how do you stop that? >> you can't, i don't think you can. our last topic, the french

government striking a deal to purchase alston. do you think it was a good idea to strike that partnership with france. you have to wonder, ultimately they're happy to have france as a partner, but i don't know. >> c'mon, if you want to do maximize profits -- they've had a relationship with the french government for years. >> that's true. >> the other thing you should realize, when you see jeffrey immelt in paris, there's a woman with him. she's about as establishment as you can possibly good. she's married to one of the senior conservative politicians. ge is in thick, but it always has been. >> that's absolutely right, but if you look at the concessions they had to make in order to get the deal done, it means lower cost savings, smaller boost.

but working with the french government, they don't make it that easy. i lived in franceiers, and i would say it's a great place to visit, but a harter place to do business. >> the poll, is it a good idea for ge to partner with france? 53% said no, so, you know, narrow, but unless the knonoes e it. nvidia is cutting its losses after a ratings drop this morning citing less desk stop demand and higher nfb torrie. they have chopped the loss in half. nvidia now trading near the highs of the day, so the chip stocks on the move. >>dom, we're calling the consumer. consumer discretionary is still the worst performing sector. might that be about to change? what do you think, seema? >> sue, it's all about the

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consumers dregiaries stocks have been rising, but still the worst-performs s&p sector this year. will that change in the second half of the year? that's the big question. can you make money on a rebound? seema mody, what do the experts say? >> harsh weather and weaker than expected growth in the u.s. has kept american from spending, dragging down the consumer discretionacy sector, the only sector trading lower this year. on whether the group can play catch-up, experts say it depends on the economy. morningstar says keep an eye on beige growth and home prices to see if consumers have more money to spend. julian emanuel doesn't see stocks in this sector being a screaming outperformer. now, third car earning will asp be watched close will you as first and second quarter records

were clouded by bath we are. in fact, i think we have an exclusive with carnival's ceo tomorrow. how do you play it? todd joins us from s&p capital i.q. it was a rough winter. that's got a lot to do with it, todd. >> yeah, so the first quarter from an earnings standpoint was relatively weak. weaker than expectations, and we saw the retailers have to cut prizes in order to get inventory out the door. as you mentioned, housing has been relatively weak as well. those two things have provided a bit of an offset. we think there are good opportunities. >> what would they be, todd? >> disney is one of our buy recommended stocks, you have a high-quality company, consistent earnings. the theme parks have started to

see traffic, and we're not expecting that we'll see disney be able to return some of that cash to shareholders in an increasing way. so that's one of the stocks that we like. >> i see ford and dollar tree is the other one? >> yes. we have to leave it there. good to see you. sue? okay. where in the world is scott cohn? hi's getting ready town vail the eighth annual ranks of the states. he joined us from the mystery state with a preview. hi, scott. >> 30-plus years in television, this is a first, going live from a canoe. i'm told there are a lot of locations very similar to this in america's top state for business. we're going to have one of our first -- our first diabolical hint later on during "closing bell." we do have fun with this, but this is a very serious study, something we start early on in the year. 56 metrics of all 50 states, in

ten categories of competitiveness, which i will try to recite from memoli. they are the cost of dos business, economy, infrastructure, quality of live, work force, as well as technology and innovation. let's see. access to capital, cost of doing business. i think i'm -- business. we weight the categories based on how much the states cite them in the marketing materials. basically we're testing all of the states' claims we'll reveal it tomorrow, and lots more about our methodology. we want as to hear from you. you can tweet us, go on our special website. and we'll see if i get out of this canoe alive. back to you. >> i know you will, but put on sunscreen in the meantime, my dear. we'll see you later. >> and don't rock the boat.

>> definitely don't rock the boat. >> three big winners next on cnbc. first, let's see what's on "street signs." >> if you own a house you probably hope the price just goes up and occupy without falling into another bubble trap. we have an experience trying to tell us what is happening and whether or not we are moving into double territory. plus retail founders are kicking of a stink. what does it means for the stocks? and create your over driverless car? with a kit? get what, you'll soon be able to do that. make sure you join us on "street signs." [ male announcer ] the mercedes-benz summer event is here. now get the unmistakable thrill... and the incredible rush... of the mercedes-benz you've always wanted. ♪ but you better get here fast... [ daughter ] yay, daddy's here! here you go, honey. thank you.

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welcome back. the nasdaq slightly lower on the days. which have been a bright spot for the nasdaq, are underperforming today. in fact, pacific crest downgraded and nvidia to underperform. the analyst writing that a recent asia trip revealed that all may not bess as peachy as it

seems it pc land. micron tech shares have been hitting fresh multiyear highs over the past weeks. we're looking at shares higher today, ahead of the earnings report. investors have been taking note, but goldman sachs put out a note saying they're in dangerous territory and the market is overemphasizing the good news, ignoring the bad news. back over to you. >> thank you, seema. in many senses, that sums up where we are. very cognizant of the good news, ignoring the bad. it's called bull territory, i'm told. we are 87 points shy of dow's 17,000, and heading to, sue, in the wrong direction. three winners before we hand you back. thank you. integris, petsmart and vertex. i'ming, always a pleasure.

let's do it it against tomorrow. >> why not? thank you very much. simon and i will sue you tomorrow afternoon. sgro a slurredle on the road do dow. welcome to "street signs", stocks are stalled. plus, is it your town? we look at some of the bigger -- and the driverless car is here. a tine,start-up may beat google at its own game. hi there, mandy. >> come take a walk with me here, very minor moving today, but this is something to chew on. up our down, we are looking at the 46th consecutive day that the s&p has failed to register a daily percentage gain of 1 mrz or more. that ihe