cvs and gwinnett, both broadcast owners rising in the wake of that decision intel the supreme court that aereo is infringing copyright to rebroadcast those signals. >> that was a big win for most of the major broadcasters. >> including our own, of course. >> absolutely. thanks for "power lunch." thank you for watching. >> we'll see you tomorrow. "street signs" begins now. american economic growth falls off a cliff, and stocks are back on the rise. hi, everybody we're going to simp or teeth into this paradone. is the new set top bock a game changer or another web tv bust, the impact of aereo's massive supreme court lost, and just one day ahead of the massive soccer game against germany, we go head to head, me and mandy, guess who gets to play america? >> i get to play germany, go

figure. germany, australia, whatever, i get german,. stocks higher across the board today, lots of green here on the screen, as you can see, they're brushing off that negative but admittedly backward-looking 2.9% on gdp. the quote of the day has got to be from ethan harris, from bank of america merrill lynch who said it's like watching suarez bite somebody in the back, it makes no sense to me. we tend to look past it. on that note, let's bring in rick santelli. nobody is doing any more biting here. that was just for one time only. what's your take on the gdp today? >> i like your comment it's old data. every bit of data we get on the markets is old. there's no data that isn't compil compiled, there's fresher old data. i think the issue here is stocks have brushed everything off for

the last 5 1/2 years, and i think the -- with a couple bumps, but mostly higher of the we've had 4% gdps in 2012. we've had negative gdps, but in the end, i think the issue with the marketplace is that all weakness in the first quarter was not attributed only to weather. even if you get a bound back of 4%, you end up walking away with an average of half of 1%. i think we'll be a bit at odds with the rest of the year, because many still believe that the glide path of growth just isn't what it should be this many years after the last recession. >> all right. rick santelli, thank you, sir. let's bring in senior economist anika kahn, as we as joe lavorgna. thank you for making the trip north. we appreciate it. >> thank you. >> here's the paradox. stocks are up, nobody's

panicking. the number was horrific. >> no one is panicking, because it is backward-looking, and a lot of the decline, of course, as we already heard, wasn't due to weather. it was through an inventory drawdown, health care spending, and how it was mesh you should. and trade. as we look at the second quarter. we've already had a number of print to show that overall growth is increasing. >> is the economy collapsing, or does the number just stink? there's a difference. >> i got it. >> overall economic growth is improving. so the first quarter is an aberrati aberration. so does it stink? it stunk in the first quarter. >> it's really smelly. >> joe, you put out an interesting note says it's nearly unprecedented. so this is hopefully an anomaly. how much of a rebound are we going to get for the rest of the year? >> mandy, just to carry on with

what you said, the last time we were down 2.9% in a quarters was the second quarter of '82. we were in a recession the next quarter. you're right, it's totally aberrant. this quarter should see a big rebound. i've been at 4% growth, but i was at 4% growth when the economy was initially reported only 0.1, so i guess maybe there's a risk that growth could snap back a lot more than people expect. certainly the fundamentals look okay. if we annualize the year-to-date job growth, we'll have the most jobs since '99, so clearly something is remiss. i'm going to tend to -- so gdp should be a lot better. >> yeah, i mean let's dig in more, right? on the one hand you have the drawdown on health care. that's a big deal. let's not politicize that, so you've got that all, but you have railcar -- we're going to talk about a stock, a company based near where you live, whose

railcar orders are booming. >> sure. >> autosales, 16.7 million annualized pace in may, so what do you buy? >> you know, the biggest thing, and i'm not going to give what do you buy type of advice, but there was a lot of pent-up demand. weather is bert. you already talked about autos. we're starting to get better activity in housing, existing and new home sales. retail sales -- >> which were spectacular. >> of course. we are showing that weather did play a role, but it wasn't the largest role. >> right. you know what, there was such a long period of time that inflation was such a nonevent that we barely etalked about it. it's back on the table unfortunately. what are all the implications, all the data that was seen, what was seen in growth, what does the fed have to do about it. >> it's clearly the economy has not been great. rick mentioned that at the outset, yet inflakes pressure is building, which tells us the

potential growth in the economy is a lot less than what yellen and some of the other doves are saying. if it does rebound and staying faster going forward than what we have seen over the past few quarters, you're going to get more inflation pressure. eventually my guess is the fed will capitulate and become more hawkish or the markets will sense the fed is losing a bit of, but inflation will move higher. >> do you think it's already losing credibility? >> not necessarily. we didn't hear a lot about inflati inflation, even though we have seen an acceleration in prices. i think we're still going to get topics around what the labor market is doing. it's improves, but the long-term unemployed is still at an unprecedented high level. that's going to continue to be the discussion points as depicted by yellen's dashboard. >> very last question to mandy's

point, school of thought, no matter what good news we have, so much of it is because of the fed. it might be right. >> it might be right, but the good news is the tapers leg done. >> but that's the fear every positive data point we get -- listen, i can understand the arguments that we don't really know how much of this economy is fed inflating, period. >> that's exactly right. >> nobody knows. >> that's the thing, if the fed ends tapering and the economy does weld that would be incredibly support i have been. because it actually turns out it wasn't all fed-induced. >> thank you, and great pleasure to have you in person and on set. thank you. this next story could be a big boost to u.s. growth with the u.s. reportedly easing up on a 40-year-old ban on oil exports by allows just a few u.s.

companies to start exporting their oil abroad. let's bring in a chief strategist, you say this is premature. >> absolutely, mandy. great to be in the studio. for me it is premature. at a time when senators corker and murph jury are trying to talk about instituting some sort of raising a gas taxes for the first time since 1983, which i think would be dead on arrival if that were to happen, but is this another form of gas tax? ultimately this will hit the consumers at the pump. >> is it? >> i believe so. if we compare the price of the pump this year versus last year, we're almost over a dime higher than where we would be. brian is very big into cars and the transportation, but we're not at the point yet where fuel cell automotives, just like -- or electric vehicles, but we still used oil for 98%.

we're are we starting to move the most precious form of the light sweet crude overseas? >> john, we were last year we did a whole week on oil, right? i went out to midland and spoke with the ceo of pioneer, one of the two stories reported in the story. i e-mailed them last night. they sent me back this sort of dull, like, well, we're happy, but they didn't really say anything, because they were nervous, i suppose, but the same point like we are early in this. er we making too big a deal of this? >> i think so and also, brian, i'm starting to think was this politically motivated? we have july 20th, iran sanctions on the table. was this a motive for the united states to position themselves to eventually give some more of that oil to other countries to join in, to help us with sanctions with iran. >> this is like a little litmus

test, see what the impact is, and then maybe if it's good, we can open the doors more. >> that's a good point. at the end of the day, the strategic petroleum research, but that's the capacity for 820. why not take that excess supply and store more here. as we saw post-hurricane sandy, there were gas lines. people don't want that to happen. and the refining capacity is here, why not put it to the gills, even valero didn't seem enthusiastic this morning. >> why would they, right? they could crush their margins, right? why would that happen? it's probe going to compress refiners' margin, but if there's other refiners that don't, they don't have any pricing power. >> they have the most modernize the refinery assets in the united states clearly. however, with that being said, why the united states --

especially going back to we haven't build a refinery since 1976, why don't we build one, develop a light sweet strategic petroleum here in the northeast? to mandy's point, yeah, this would open up the door is, are we going to do more to export oil? i think that's bad timing right now for the american consumer trying to recover from one of the worst recessions since the great depression. >> it's pretty much all refiners sharply lower in trades today. john, thank you for joining us. >> thank you for having me. all right. does the aereo supreme court decision mean that content providers are out of danger? or is this story just about aereo? >>. plus we will tell you how you can make in money on uber, before it even goes public. female announcer: don't miss sleep train's 4th of july sale

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lists. here to help us break it all down, we have attorney john hain. great to have you with us. finally with the big one, it lost. who else do you think potential loses as a result of this? >> well, i think entities that would attempt to elevate a crafty legal argument over fundamental principles i think are probably losers. i think the winner is the consumer. this is really about ensuring the intel grit of the broadcast over the air distribution. >> you say potential the winner is the consumer. at the same time aereo said many times in the past it was making it easier for consumers to access a service that they already get. >> well, let's go upstream a bit. because aereo likes to talk about the greedy broadcasters. broadcasters are purchasers of content. they're ultimately owners of content that like to know when

they make a sale to a broadcasteror to a cable netw k network, or to anybody else they sell their programming to, they like to now how it will be subdistribute the and redistributed. and we do in the united states and all developed countries have fairly sophisticated law probing property from uncontrolled distribution, so aereo was really a story about a back-door through uncontrolled distribution, because broadcast television is available free over the air to consumers, and that's been shut down. the nfl filed in this proceeding, saying, hey, if you destroy the integrity of the broadcast system and anybody can pick it up and resell it for a profit, we probably won't sell our games through broadcast distribution, which means consumers that want to rely on broadcast free over the air distribution and not purchase cable -- and there are some of those i'm sorry to say -- would not be able get nfl games. >> as you look at this, is it

more, john, about aereo, or is there some bigger thing now that the supreme court is going to set out of? cloud computing, perhaps? >> no, this really has no relationship to cloud computing. i think the supreme court did exactly what i would have expected and wanted it to do. they made very clear this doesn't apply to cloud computing. cloud computing comes in many different players. aereo is -- is a fully baked service that has one limit of the cloud within it. it's not really a cloud service. you can't share a microsoft word document with you via aereo. i can'thomemade have i i don'ts. it's a service to do exactly what cable television does, except not pay. >> john hain, we do appreciate your insight in this case. we hope to see you back on the show again. >> thank you very much. bye-bye. and a reminder, cnbc ace parent company among the

broadcasting and capable companies who opposed aereo on copyright claims before the supreme court. now to an issue that you probably never heard of before this week, and now it seems to be everywhere. the charter under threat as kevin mccarthy of california said he thought the private sector should pick up the role the bank has held since 1934. with es is maxine waters from california. representative waters, good to see you again. we saw you it is milken conference, and thank you for coming on. >> you're welcome. >> despite some of the more vocal opposition to the xm bank on the republican side, it sounds like sudden believe there's plenty of republicans that are willing to continue the charter? >> absolutely. as a matter of fact, i was just talking to my staff. we have over 200 democrats who have signed on in support of legislation that would authorize our reauthorize the

export/import bank and 41 of the republicans defiantly have signed. we think there are a lot more republicans who would support it if we could get it to the floor. we are pretty stunned about the opposition to the reauthorizations of the xm, because so many of the republicans who voted for it in the past are now somehow under the spell of the tea party leadership of the republican party, and we're really surprised at mr. mccarthy. mr. mccarthy has always been a supporter of xm. as a matter of fact you know he supported space x, and is -- so we think that mr. mccarthy and others have been caught up in this political position that has been advanced by the tea party and somehow they're backing away

from their support for creating jobs and maintaining jobs in our country. >> so congresswoman, what we hear, though, from those who oppose it, and again i haven't heard the tea party angle, but i'm not that dialed into politics, i fully admit, is this -- it's tiny. so small private sector can pick it up. and also that basically it's selecting winners, right? that the federal government, or at least the part of it should not be in the business of saying, okay, this company you're getting a loan, about that xeer you're not. >> let me say this. our balance of payments problems has been hanging around for a long time. we do not export, we do not sell other countries things that we manufacture and make in the united states. smaller countries, korea and china is now supporting the export efforts in a big way. so whether it's 2% or 3%, we

need all of the support for our export industries that we can get, and xm is doing that. remember, if we had the kind of financing that they should get from the bush we don't have all of that this is loan guarantees. all of that money is being paid back. we have a teeny default rate. not only are we giving the kind of guarantees and financing. so it's a good deal. >> it pays for itself. okay. >> yes. i'm throwing salt over my shoulder, i have a rabbit's foot in my pocket, i know it's unlikely. please assure us we will not have a government shut counsel.

it's like groundhog day every year. >> i would like to assure you of that, but the way areas are being led by the tea party, i don't know what they're going to do. democrats are opposed to shutting down the government. we work hard to keep that from happening, but now with a different elements and mr. mccarthy and others changing positions like on xm bank, i just don't know what to tell you. >> we were hoping for the guarantee, congresswoman. >> i know. you better ask mr. mccarthy. is he going to be for closing down the government or against it? and who is he taking his leadership from? >> we'll pound his table a bit more. >> absolutely. but just -- you have to know this is about jobs. we are creating jobs the we need jobs in america. >> take care, garr deana. >> absolutely. another u.s. company hits the great wall of china.

is china just not that it's all cracked up to be? >> are you talking about bebuy again? >> i am talking about best buy. >> google going after apple and amazon reportedly. we're waiting to find out for sure. we'll dive into it. why now? why not? utshining the competition tomorrow requires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. 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.

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the fountainplace tower versus whatever tower cleveland has. for the republican party is doing its own version of top states, the rnc just announcing moments ago, so we called this breaking news, that it has narrowed down its location for the 2016 republican nationality convention, two cities, cleveland, which rocks, an dallas, which is pretty cool too. the final decision on the winning city will come later on this year. which of those great american cities would you pick? don't answer that. >> i'm not going to answer that. the retailer's reportedly looking at a sale or partnership for its chinese business. sources say the company could get near ly under the name five star and betts buy mobile. when asked the best buy spokesperson, we do not comment or speculate on rumors.

it really made me think about how i think we were sold this idea that china is going to be the great land of opportunity for foreign companies. unfortunately, for some people it's worked out very filesly. for some companies it announced a pullout, like, for example, nike and other -- >> who's it worked out well for? >> a number of companies. revlon, activists earlier on this year. >> who is it working out for, i'm saying. >> for some of the car companieses that admittedly do have partnerships with car companies on the ground. that, by the way, seems to be the way that you can often get business done. if you go in just by yourself, not so good. if you sort of maybe avoid some of the team, and the incumbent player on the ground, it's a lot easier. what i've found, is this -- here's the story with china. s you look at intellectual property law, you understand what happens with china. you've got a ford f-15, sudde y

quiter companies can do okay, all right? general mills, they're selling a lot of food into china. buick is the luxury brand to have in china in some cases. trying to make stuff there? that's trouble, or sell stuff as a retailer, not the product but the store? you're in trouble. >> also look at the cyberhacking incidents, the tit for tat. it's making it difficult for companies like cisco, et cetera. >> microsoft estimated that 90% of the windows installations are fraudulent, almost all of them. we've been asking the shark tank stocks, robert herz recollection says his is all about the christmas sweater. >> ho ho ho, merry christmas. >> in so far it's tipsy elves. >> there's a band the rogue elves that go behind santa's

back when he's away and make funny christmas sweaters and other products in the shop. >> our company is tipsy elves, our slogan is not your mama's christmas sweater. >> we are seeking a $100,000 investment for 5% of our company. 2012, the sales were over -- >> which gave us 1.3 -- in those two years. >> we structured our pitch in a way that would give shock value for the sharks. >> greg is wearing our runaway sleigh center, we knew we would lock in and ultimately they would discount them, because elf a novel i have reverent product. >> there's nothing unique. >> we had they well-timed things on telling them. i quit last we're to focus on this, and i was getting paid there $170,000 a year plus bon us. >> i have a highly educated lawyers making 200 grand a year, to quit hi job to sell

inappropriate sweaters. how can you not love that? >> here's my offer to you. 100,000 for 10%. >> >> caller: their valuation in half. why? why not? i'm a shark. >> robert, we september your offer. >> excellent, guys. >> a week after we sold about 750,000 in sales, which is almost the same amount we had sold the entire year previously. for the 2014 year we project we'll sell about $6 to $7 million. >> how inappropriate reindeer things can you make? it's unlimited. you know, the best investment is not only the one you make the most amount of money from. the combination of two thinks. i love working with those guys, and love making money. >> the christmas sweater. i know what i want for christmas. put it on the list. a bowl balance and billiards, street talk is on deck next. plus the u.s./germany game. we'll stack the two countries

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time for street talk. daily rundown. stock number one, looking good, colin guarantees it. they upgrade. >> nights reference there. they finalized the deal buys joseph a. bank back in march. they have the target up to about 65. >> stock number two irrigation infrastructure maker valmont. this is after the company cut its forecast as well. >> you ever drive across farmlands and see the giant things on wheel that spray water, that's what they make. a lot of pricing pressure parent in partners of their business, wedbush cutting the target, cities about 7.5 where valmons, but note their call and the concerns. this is a biggie.

it's world green. >> yeah, and the stock is up. w.a.g. is up 2.4%. the target price gets a big jump to 87 from 69, so another $16 from up side. there's been a lot of shareholder i don't want to call it activism, but agitation at walgreens, and jeffries saying that pressure will force management to do something to appease shareholders. there you go. watch walgreen. >> watching walgreen. we're also watching railcar maker trendities at ubs. this is a stock we referenced with anika. up 3%. the company best positioned to increase production, target price gone to 51, right? so about 20% up side seen. i understand there's a lot of concerns out there. the data is backward look. i get it, but obviously a rail cars, a leading indicator and their sales are soaring. who to believe, i get time will

tell. >> the under the radar name, brunswick corp, not so under the radar, re-creation products get an upgrade to buy. >> you know, pool, the firm said it was based on refreshed products, and a favorable risk/reward profile. stocks at 41.5, so about 9 1/2 bucks, nice percentage on built c, brunswick corporation, i think i speak for everything when i say yay new jersey. time for talking numbers. barnes & nobel, you have retail. barnes and noble the store and the nook e-book business, here's what michael told david faber on "squawk on the street" this morning. >> the decision has been looked at for some period of time in

terms of how to best structure the company to optimize shareholder value, and the board decided recently to -- that a separation the nook media which as you know contains the nook consumers digital business, and the barnes and noble retail business is the best way to optimize shareholder value. >> or to get people buying books in your stores again. >> that could be a novel idea. shares up today, will it hurt or help? long-term shareholders, should you buy in? , aaron gibb of s & p capital i.q. book stores are great, i hope independent book stores and barnes and noble survive all over this country. they're fun, rainy sunday, go in for a couple hours, poke around. fundamentally, though on barnes & noble, and i love the company, like any hope here? >> there's hope, but it's pretty faint. basically we're not buying in just yet. the street has been pushing them to split or spin off the nook

business for i would say over a year now. management finally ka pit lace, but that doesn't mean the underlying retail business is stable. last quarter they only grew their revenues by 0.8%, leads than inflation. net dollars, they're still losing money. now, with this cash injection from the split, they should be able to shore up their business and hopefully grow, but there's still a lot of ifs out there. the big problem is in their industry, retailing books, is in a secular long-term downtrend. it's just not favorable. even though they're doing what wall street has recommended for a long time, i don't see the actual gross coming from them. >> admittedly year to date it's up 40%, but it's a very choppy chart. >> and just look at today's price act.

r reinvestors reacted very positively, and then it slipped out of their hands. like at that longer term ten-year chart. a lot of bulls will point to the bullish rounding base that has been formed, and ever low has higher, and the bulls are a little anxious, but to me, what is very concerning is that 23 areas. any time a stock starts -- that's when managers decide to start selling the stocks. we are right here today. the stock is being sold. now, if i own it, i would be hanging on to it right here, but there's no buy signals, until i get a sustained break above 23, that's when the stock chart gets interesting. so also keep aeye on the shorts. you know -- so keep an eye on 23, big level. >> 23 is the level to watch out for. i sure hope they survive.

i love barns and noble. i go there all the time. i think it's a great place. i really hope they survive. thanks for joining us. we have some breaks news, josh lipton, what are you looking at, buddy? >> mandy here at the developers conference, google executives making more news news, they announced google fit. this is going to be a new platform, a way to track your fitness and health. tell be available in the next few weeks. of course all of big tech is interested in this space. just a few weeks ago in the developers conference, apple also getting into this space when they announced a new app. called health, a new tool called health kit, so google wanting in and not wanting to miss this opportunity, too. >> big insurance i suspect is also interested, right? we'll be right back. tdd#: 1-800-345-2550 there are trading opportunities

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a huge supreme court ruling today saying aereo would you say violaten copylight law, so

coming up on choib cloib is much more. bill griffeth is joining us. >> my question is, the technology exists. is there still a business opportunity here in obviously aereo has a choice to make. they either pay the retransmission fees to the broadcasters and continue operating, or they go out of business, as they have warned they might have to. is there a missed opportunity if the broadcasters don't pursue this les moon once said if he lost the supreme court case, he boo start his own competing business with aereo. so i'm wondering, is there a business opportunity? is the tech following there? are these missing audience by not going after that mobile controlled? we have the head of the national association of broadcasters, to look at that angle as well. >> bill, hey, we look forward to it. thanks very much. >> you bet. back to josh lipton, who is as google's annual developers conference in san fran. all right. google fit. what are the other highlights out there?

>> well, sully, it's really an android world. they really want a say in all parts of your life from what you want to what you wear. . take a listen. >> we've redesigned the android platform for ought motor i have been, making it easier and safer to use the app.s that -- most importantly android auto is completely voice-enabled to keep your hands on the while and eyes on the road. >> they also want to have more control over your living room, so they introduced android tv today. it's going to let you organize and access all your media content. all kinds of media.

inside tvs by 2015. wearables, another big thing here. they talked about how the o.s. supports both designs, smart enough to know where you are at all times, always in sync with your phone. they introduced new phones today, but the thing today was about broadening and strengthening that ecosystem. google wants you on android no matter where you are, office, work, even in your car. >> josh, thank you very much, though i do think that eco system might be on brian sullivan's banned words list. >> not yet. it's getting close, hack, curate, but eek on system, disintermediate yaati disintermediatation. >> i hate that word.

>> goog many if unveiling android tv. there's already ones out there from apple, you know, you name it. what is behind the announcement? what does it mean for the long-term strategy joining us is aaron kessler, senior internet analyst at raymond james. why is it important to get this right. obviously you have seen that from amazon recently. obviously apple if it's apple tv, and there's special lake interest the -- and obviously -- ultimately for google we think it's about additional advertising dollars. to really track users. >> and where does it all lead, aaron? we know that's what they're trying to do. the fit app. will say mr.

kessler, you have to raise your health insurance, because we noticed you haven't jogged in three weeks. >> it's about targeted tieser. they could -- so it's really about targeting these things on a 1:1 basis. the more google knows about you, the higher app. fees potential as well. and goog google we think is in as best a position as anybody to do that. >> you have an outperform. i believe that you have cut it down to 645. is there anything that you've heard today that changes any ofs above? >> no change at this point. we're looking for kind of hey teens growth in advertising for q2, so we think pretty consistent trends. a lot of these opportunities are still early, but we think google is making the right moves. >> the only -- we've got to go,

but the only thing i worry about is they have the whole market, basically. even if they do all this cool stuff, what new business is left for them to get? >> they have obviously a vast majority of the search market today, and that growth has slowed. but we think some of these other opportunities, whether it's youtube, display advertising, and these wearable areas can drive an additional 200 basis points in growth per year, which we think at current multiple are still very reasonable. >> thank you, aaron. we do appreciate it. and for more tech innovatio innovations, you can later check out cnbc.com/techdrivers, a new thing we've got. >> it is kind of cool. >> it has a driver until like the driverless car. >> which we'll be talking about in just a second. the big soccer match between the u.s. and germany is tomorrow. we'll be comparing the two countries. brian u, versus me germany.

and we're going to make moan off the surging popularity of uber, coming up. in a world that's changing faster than ever, we believe outshining the competition tomorrow requires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. 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.

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all right, in honor of the big u.s. versus germany world cup game tomorrow, we've put together the duel to end all duels. i'll take the u.s. side. >> i'm taking the german side. let's begin and start first of all with market performance. brian? >> all right, since the last world cup kicked off june 2010, the s&p 500, america is up 83%. >> the german dax is up 67%. not too bad, but yeah, okay, brian, you win this one. but here, brian, i'm going to take a point. germany's gdp is up 0.8%. >> okay, so we know by now, our economy was down 2.9% in the first quarter, so back to you. >> okay. >> so, while we're talking growth and wealth, let's talk billionaires. here in america, we have 429 billionaires. >> okay. in germany, that number is actually 85. but if you factor in the fact that germany's population is one-quarter of the united states, it's really not a terrible ratio. still, yeah, okay, i give it to you. boom, the u.s. is on top.

>> okay, let's talk cars now. "forbes" put together the ten most popular cars worldwide last year. of the top ten, ford focus is number one, chevy cruz and ford fiesta are on the list there. >> but wait, there's more. three german auto brands also make the top ten. vw jetta, gulf and polo. for that, it's a tie. >> in the true spirit of soccer. and of course, you can't talk u.s. versus germany without talking about beer. we found that 2012 data shows u.s. beer consumption per capita, 217 bottles a year. >> yeah, okay, but in germany, do you know what that number is? >> no. >> 298. score one point for germany. >> why do you get a point for drinking more? you should subtract -- >> you always get a point for drinking more. >> you should subtract a point. >> and you know what germany does better? make lederhosen. >> they do, and airlines. uber is a machine. it has been growing really rapidly, and to say that is even an understatement. it is not yet a listed company,

but there are some ways that you can make money off it. research has found some of them for us, done all the heavy lifting and here to explain is founder and ceo lee drogan. lee, how do we make money off uber before it is a public company? >> i think you have to look at the public companies uber will be disrupting, specifically the car rental companies. i think you look at avis and hertz here. and these are long-term plays, obviously. uber's not going to disrupt these companies overnight, but when you look four, five years out, something like playing it with leaps, i think this is going to be a play that you want to look at. >> you say it's not going to disrupt them overnight, but is doubling its revenue over six months, is doubling the number of cities it's in every six months -- as i said, it's a machine. what about shorting the medallion financial corporation? >> that's one way to do it, and it's obviously a thin stock. you have to pay 7% to short it. so, it's a tough play, but that's a company that's definitely going to get disrupted. and the reason is because they basically give out the loans to the people who buy the

medallions. and as uber disrupts more and more taxi companies in each city, you're going to have less people buying medallions, and therefore, the company's going to do worse. >> it makes logical sense, and it's lost about a third of its value since november, i believe. leigh, i hate to do this, but we have breaking news mary thompson. >> mandy, new york attorney general eric schneiderman is going to be filing suit against barclays, this according to someone familiar with the situation. he is going to be holding a press conference on this at 4:00 eastern. we will bring you the details. but the suit alleges that barclays dark pools engaged in deceptive practices, fraud, misleading investors and false advertising. the person close to the situation says barclays right now is the only bank being charged. you might recall earlier this spring, new york attorney general eric schneiderman did say he was going to be taking a deep dive into dart pools and investigate them, and it appears he is getting ready to file suit against barclays. he is holding a news conference at 4:00 p.m. eastern time today.

back to you, brian. >> mary, thank you very much. lots of people jokingly call whole foods whole paycheck because of the prices, but guess what? whole foods is actually now admitting it overcharged lots of customers, apparently. that story is coming up after the break. i know what you're thinking... transit fares! as in the 37 billion transit fares we help collect each year. no? oh, right. you're thinking of the 1.6 million daily customer care interactions xerox handles. or the 900 million health insurance claims we process. so, it's no surprise to you that companies depend on today's xerox for services that simplify how work gets done. which is...pretty much what we've always stood for. with xerox, you're ready for real business. i research. i dig. and dig some wha(trader more. search.for. because, for me, the challenge of the search... is almost as exciting as the thrill of the find.

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whole foods has to pay $800,000 for overcharging customers in california. the reason, the grocer didn't always deduct the weight of the

container for weighted items at the salad bar, some prepackaged items weighed less than the labels said and some deli items were sold by the pete instead of the pound. there you go. >> why would you not expect to pay for the container? >> don't you always pay for the container? >> i assumed you did. i never imagined. you're supposed to deconduct the container, apparently? makes no sense. >> thank you for watching "street signs." >> "closing bell," an aerial debate coming up right now. and welcome to the "closing bell," everybody. i'm kelly evans down at the new york stock exchange. >> and i'm bill griffiths here at cnbc headquarters. stocks higher today, kelly. investors, i don't want to say they're ignoring the weak gdp report for the first quarter, showing it detracted 2.9%, the worst nonrecessionary gdp report in 58 years. i think that's anc