>> more tough talk from north korea, and now the u.s. is taking action, but little reaction in stock. what does the government know that perhaps the markets do not? >> plus, the president takes a 5% pay cut in sympathy with the sequester cuts. lou dobbs has a take on that. lori: first as we do every day, stocks now. stocks reacting to the central bank action armed the world. the bank of japan rolling out an aggressive bond buying program to fight inflation. the bank of england and held rates steady, and they hinted a rate cut could be imminent come may. in the u.s., ben bernanke avoided comments on the policy in a speech to the students in ohio. lauren is covering the action for us today. stocks shedding gains. >> they are. hi, lori, it's a mixed market, a flat market, they are moving a tenth of 1%.

jobless claims data rising to a four month high casting a shadow over the market and raising jitters about the jobs report in the month of march tomorrow morning. as for markets this week, if you look at the charts, you can see we have very choppy action. the good news is the dow is higher on the week. the bad news is the s&p is struggling, but we had more record territory again this week. back to you. >> thanks, lauren. melissa: breaking news, facebook's much anticipated phone event. our tech reporter, shibani joshi has more. what do you expect? >> has yet to start, there's a live feed on facebook live. it's not started, but i am reading on several blogs that the qualcom ceo is in the audience leading us to believe we might get a hand set device because, of course, qualcom and the smart dragon chips go into hardware. we could see this hardware

materialize, and usually what happens in the event, mark leads things off in the characteristic hoody and gets in front to talk to the audience of what i'm seeing as more than a dozen -- couple dozen people there. what to expect, something android based, is it hardware, software? that is something that's a key critical question, all relating to the company will do to address the mobile ad revenue business. i mean, it's a huge opportunity for the company, and this is specifically going to target at that opportunity. we'll wait for all the details, but, again, the event about to kick off in in moment. >> and what exactly will we see? i know you watched it live there so we expect a speech and what else? >> well, mark usually gets up, a quick intrough, and then he just kicks it off immediately. they are a presentation, like a powerpoint presentation for lack of a better word and details exactly what their new home on android will look like.

that was the wording sent out in the inviation, but, again, as i mentionedded, he has guests in the audience so maybe he'll call up people. anything goes. it's something not seen the company do before, poly a bran new phone. melissa: thanks so much. will the announcement live up to the hype? straight to the president of the group, and, rob, great to see you. you don't think it's particularly a good idea on the part of facebook? >> well, so the problem is that ever since the ipo facebook's been on the shoals. people have not looked at it, but more like a ha-been. the rumored partner off the oats with samsung just rolling all over them. you have two relatively weak players coming together to build a phone. if it fails, i think it's going to put an exclamation point behind facebook being old news statement, and they would have done far better to partner with

samsung, marketing capability, and resources. two weak companies for a product, particularly a hand set product k will be very difficult to pull off successfully. they just don't have the chops to make this thing happen. >> but doesn't the idea here -- isn't it, rob, partly to expand facebook's presence in some secondary markets and emerging markets perhaps where there's not exposure to take advantage of a new advertising market? >> well, if it is tied to the phone, in the secondary market, the markets have been tough to penetrate because the socioeconomic levels are low. apple doesn't perform well, needs a low cost device to move through, and if you think about social networks, it's unusual for device to carry the social network in. typically, it's whatever the social network is doing is what gets people on board, and, yes, they do it on phones, but the phone doesn't drive the network.

it's just a little bit different so don't get me wrong, it's not necessarily a bad idea, but requires massive execution, and, you know, in a lot of strength, and we're not talking microsoft here or google here backing this thing up, but players that are different and at a lower level. >> rob, your explanation makes perfect sense. stick around. we want your reaction after we officially see what they unvail, and those are pictures from the event has shibani described. there's mark in the hoody, and we are monitoring it as if shibani is standing by, and soops we have the big re-- as soon as we have the big reveal, we'll bring it to you asap. melissa: south korea says the north moved missiles closer to the east coast, hours after the military warned they are authorized to attack the u.s. using, quote, smaller, lighter, and diversified nuclear weapons. now the u.s. says it is

preparing to send missile defense systems to guam. chuck hagel says the threats have to be taken seriously. they will arrive in guam and be operational. lori: there's a report on the health care stock rally that happened earlier this week, and it raised some eyebrows after a private message was sent out about a coming change in government policy. monday, washington base investment firm hype securities had a report predicting the obama administration would reverse course op big spending cuts that would have hit health insurers. they skyrocketed by 8.5%, a half hour later. the government announced the change in policy the report predicted. while the incident is throwing a spotlight on the controversial political intelligence industry, today's report by the investigative arm of congress

concludeed the area is murky saying, quote, the prevalence of the sale of political intelligence is not known and therefore difficult to quantify. while currently little prevents lobbyists and washington insiders from gathering information, top congress could supplement existing gyps and laws to create stricter regulation. melissa: the washington post traveled the 1700 mile route and wrote about the experience in the recently published e-book, and, steve, what inspired you to do this? >> well, just seemed like a good way to bring this object to life rather than sit here and talk about whether or not this piece of paper was going to be stamped or approved or that piece of paper, but go to the frontier of american energy, and we have to see what it meant on people's

ranches and farms. melissa: interesting. what most surprised you? >> well, there were -- i'm going to not say "surprise" b but impresses you that reading about things can't imagine from the oil stands projects themself, which are just massive, massive projects, and they are more like strip mining them, and that's quite an incredible site, and then the phenomenal boom in north dakota, and also further down the line to talk to people who are ranchers and farmers, some who just don't want to be bothered by a big company coming and laying a pipeline down and to worry about leaks and that sort of thing. melissa: is it fair to say when i read what you wrote and it seems like maybe when you started the project, you were not loving it from an environmental stand point. is that a fair characterization? >> we don't like to take a position on it, but it's fair to say that almost any energy project, if you just look at it

from an environmental perspective is not something you want to do. i mean, take your pick. do you want to run a big pipeline up to the oil sands, drill for oil in the sea? do you want to drill in deep water in the gulf of mexico where bp had a terrible spill, or do you want to build, you know, drill 10,000 holes in narks. no matter how we go to look for fossil -- for oil and gas, you know, they are not the kind of things you would do otherwise. melissa: at the same time, you ran into a lot of folks in sout- north dakota, and you say companies are growing fast, they struggle to find workers. there's a mcdonalds offering a $300 bonus for any worker who stayed three months because it has created such an economic boom for that state; right? i mean, there seems like there's a lot of people there who are happy for the jobs and the wealth and the business. >> absolutely. i mean, unemployment is at 3%. it's also really disrupted the way of life that people had there. i think the old-timers are

having mixed feelings about it. some of them don't own the mineral rights there either because there were earlier waves of oil booms in north dakota back in the 50s and 80s, and so that there are a lot of ranchers who are not benefiting or not entirely benefiting, and at the same time, there's crime and housing crunch and our windshield was cracked three times in the state of north dakota. >> did you, at the end of the day, do you hope people who read the article or those who read it will be dissuaded from supporting the pipeline? >> well, not necessarily, but i think what i think i'd like the book to do is make people realize just what kind of strains we're putting on in the environment when we consume the oil. the whole economy constructed depends on projects like this, even if it's not this particular project. melissa: absolutely.

>> beyond this project, i think, it's good for us to all to think, you know, more profoundly about the way we use -- the way we use oil and gas. melissa: i myself have been to the crude headquarters, the way it's mined and impact it has on the area. thank you so much for coming on, steve, very interesting stuff. >> my pleasure, thanks. lori: as you know, we are following facebook's announce. live from the company headquarter, and the ceo takes the stage. we have the latest coming up. melissa: a new look for best buy, how a store within a store concept gives investors a lot of hope. lori: later, jobs on president obama's decision to take a 5% pay cut. melissa: look at metals as we head out to break here. the dow is just slightly negative, but gold and silver trade lower. copper trading higher. we'll be right back. ♪

brng

lori: the facebook's ceo is

introducing a family of apps, not a phone or operating system. the company is calling it "home," and this family of apps, and we have reactions from the tech analysts straight ahead. find out what it's about. melissa: yeah. lori: in the meantime, updating you on the markets like every 15 minutes. lauren, you are looking at stocks that faced trouble, lately. >> these are troubled companies, and then lul ulemon shares are down 15% as they battle the sheer bottom problem with the black payments, 17% of the pants in all the stores recalled. we have words that the chief product officer with the company since 2008 is stepping down. we don't know why. we know that the analysts said, rbc capital, says this could be a problem for the stock, and they are working, obviously, to figure out exactly what the problem is. investigation revealed that it was a combination of the fabric itself and the new patterns that

are causing that problem, and really quickly, carnival cruise line is down today. yesterday strong winds caused the ship to break lose from the repair dock. more problems for carnival. back to you. lori: lauren, thank you. melissa: time to make money with charles payne. he has the stock to make swift. >> swift transportation. you remember the story? seven years old, his aunt sally was outside, playing in the dirt, a toy truck. you having fun? he said yeah, and he said, i'm going to own a hundred of these one day. now he was more. this is a fantastic company. they reported truckloads up quarter over quarter, 14% year over year. weekly revenue per tractor, an all-time high for the company. melissa: wow. >> the stock hit 15.5, pulled back here, just more or less

drifting, a spike, profit taking, nothing to be alarmed about, but it's traded and a buying opportunity. lori: high, though. >> it is, but i expect it to retest 1567, and longer term, it's a $20, and pe ratio at 10, 50% above sale, book value is a little high, but overall, guys, a stock i think people should look at. melissa: interesting you think of the head winds coming their way. fuel prices have been more tame talking about peak demand hitting fuel consumption. >> fuel prices are tame, and getting off of diesel, making that transition is a huge difference. melissa: big investment, but a wind fall down the line. thank you. >> thank you, see you later. melissa: facebook's phone event, not a phone or operating system. we got live reaction coming up next. lori: private eye with an ear on

wall street, bo dietl joins charlie. melissa: the dollar faring, and the dow is down a little better than seven points, trading lower against the euro and the pound, but it's higher in japan. we'll be right back. ♪ my mantra?

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>> 22 minutes past thh hour, i'm jamie, your fox news minute, and right now, at this hour, university of rhode island is on lock down, authorities invest gaiting reports of a possible gunman, all classes canceled at the kingston campus, and police officials tell fox news that the hall was cleared, checked, no injuries reported yesterday. police are checking the school. in connecticut, democratic governor malloy signing the nation's toughest gun control bill into law in response to december's deadly shooting at the school in newtown. the bill adding more than a hundred firearms, and it creates a registry for dangerous offenders and bans sale of high

capacity ammunition magazines. federal officials say as much as $7 # 00 million in hurricane katrina and rita aide in 2005 may have misspent and can't find evidence as of the grants as high as $30,000 a family to use for homes as intend the. that's the latest head lines at fox. back to melissa and lori. lori: thanks so much. facebook shares off the best levels today as the company, the ceo tells us -- that's not mash, but facebook telling a gathered crowd what they are not doing at their much anticipated android event going on right now. facebook's ceo is saying they will not make a phone, not an operating system, but, instead, a family of apps that they call "home." let's bring back rob. rob, what do you think of it? >> well, certainly better than

what i thought they were going to do, and, in factings what -- in fact, what a lot thought was going to be a co-branded phone, which would have been a disaster. they can steel the eyes from google who makes the operating system, and while it's not dramatic as what amazon did to google, lock, stock, and barrel, you'll find a lot of the advertising revenue will now start flowing to facebook through the android phones for the people that actually use this app so a much more subtle way to pull revenue from google, and, perhaps, a more successful way to approach the problem than what they rumored. lori: sigh of relief, rob. do you like the strategy? >> oh, so much better. the -- this is much closer to what facebook knows how to do. it's close to the core, and while i think it's likely that htc and other phone makers may try to wrap around the other things, this keeps them at arm's

length, and if htc or somebody else doesn't make it, it doesn't damage to facebook, it's a smarr approach. lori: what would consumers expect to see on the facebook home page, the family of apps, and how it changes what we're used to seeing right now? >> well, these are targeted to mobile phones. you touch images to start conferences or conversations with people. it's been optimized for the smaller screen, see feeds on the phone, and easily swipe the feeds off the phone if they bother you. i think a lot will take tuning over the next three to six months now that users have it, but what you'll pay is a much more optimized experience for a small screen device, something needed for a while. lori: how is facebook dong now in the image department in your view? >> well, with this announcement, it's not more negative.

at the end of the day, they have to appear to be something people want to go to to experience opposed to something that's just taking up time and folks question about whether the time is well spent. that's true of the lot of the social networks now, twitter, the rest, people are questioning about the time investment, and they got to change over to, again, a place where you want to go, a place that people are striving to get to opposed to a place that people question whether their time spent there is well spent. lori: always a pleasure. >> my pleasure as well. melissa: shares of best buy, stocks shoring on the plan of minishowrooms in the store. it is not the first time that best buy has done this store within a store complex. best buy dedicated area for apple, but these boutiques are different because they will hire their own staff. this is the first time for samsung because the tech giant currently does not have any retail stores in the u.s.. the samsung stores feature the

galaxy s4 phone as well as other samsung products. beginning this month, they will open in more than 1400 best buy and best buy mobile stores across the u.s.. boy, the best buy shareholders enjoying it now. lori: i'm sure. the samsung phones on the commuter trains. interesting. crude selling off in a major way. what's dragging prices lower? we'll have a look. melissa: plus, president obama giving back 5% of the pay. is $20,000 a good will gesture, or is it chump change? lou dobbs weighs? lori: good way to put it. ♪

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>> let's get you updated on markets. stocks now, every 15 minutes we go to the new york stock exchange where we find lauren simonetti. >> hi. lori: dow is up five points. what is influencing investors here today? >> we're really struggling to stay above the flat line for the dow and s&p. the nasdaq is down. we're worried about the jobs report we're going to get tomorrow morning. then we have the central bank liquidity that's helping but the fact that yesterday we heard john williams say maybe they will pull back this year, kind of casting a shadow over the gains we might have like to have. here is jcpenney for you. this stock hit an annual low of $14.10 earlier but it is up 1.125%. next month 500 stores will be turned into home furnishings boutiques.

at that could be a good thing for jcpenney riding the wave the house being market. lori: looking pretty hot there, lauren. melissa: lori, just saves it. you just say it. got me --. let's move on to anything else. check out oil prices. huge downnday for crude oil. lori: she does. i'm a little envoy just. melissa: i know and i'm so embarrassed. $93 a barrel on weak reading on jobless claims. there are concerns global demand will weaken as ecb president mario draghi warned of downside risks to europe's recovery at a news -- a little bit. president obama's returning 5% of his salary or $20,000 to the treasury in support of federal workers who are going to be furloughed due to automatic spending cuts. the decision comes after a similar move by a secretary, defense secretary chuck hagel. but was this the right approach? let's get lou dobbs take.

>> well it's certainly a grandstand move, isn't it? and a whole 5% of his salary. now, how much, what multiples of his salary does he spend each month on vacations, fund-raisers? he is in san francisco on the taxpayer dime, raising money for the democratic party for 2014. i didn't hear about sacrifice there. and the multiples of his salary are what are being spent when he does this nonsense. i don't understand why he did it because he draws attention it a couple of things. one is, first of all he makes 400,000 a year. that is not going to please a lot of people when they look at pay for performance. even in politics. and it's also not going to please them to think, it is not pay for performance either. just about everything in the federal government government is screwed up. we're watching obamacare unravel before our eyes, which is in the long run a good thing but this is a dysfunctional government being led by inget tense. that is not a good thing.

so 5% of 400 grand we have the opportunity to talk about pay for performance. we have an opportunity to talk about the expenses of this president, his vacations, his golf games. what he is giving up? what is he giving up for lent? what is he giving up in this, you know, gesture of solidarity? you know, a lot of people got me thinking, various guess us it who work there to say this is solidarity? come on. lori: does it break down or do we know exactly the breakdown who pays for what it comes to his vacations and golf games? >> taxpayers. lori: he doesn't fork out anything for a -- >> no. because it is one of the things, i think it is appropriate by the way, i'm not suggesting that it should be otherwise much. because of all the security that is necessary. the way in which he must travel, he and his family. it's appropriate. we've always done that. we want our presidents to be as secure and safe as possible and their families, of course.

but that's also a time for judgement. we have just gone through as the president constantly has remind us, the worst economic crisis since the great depression. and he is accelerated his number of times on the golf course which requires inordinant expense. he has accelerated vacations by any presidential standard. no one is surpassing this president in terms of time off. so, you know, this is, this is more phoney baloney from a phoney baloney administration. melissa: you wonder where they get up with the idea. i get where the 5% came from. if you want a gesture put your entire salary -- >> here is the gesture i like to see the son of a gun make. seriously. instead of, this, how about add 5% work time to your day? cut the nonsense and actually get something done. actually try to drive economic growth. create jobs. and then, we can see a

expansion of opportunity, rather than more of this nonsense of, 5%, phoney baloney sacrifice and redistributing economics which is about all this president comprehends and that is unfortunate for the whole nation. melissa: spend more time at office it will mean debt will go up even higher. spending more money. i don't i want him spending more time in the office. >> you know what then? i would like to think at some point you would have the capacity to understand that there are millions of people hurting. if he wants to be in solidarity with somebody, maybe he should, here you go, got 20 million unemployed? maybe he should think about resigning in solidarity with those who lost their jobs? there would be a consideration some might embrace. i'm saying it would be grandstanding, and far too grand a gesture on his part, but there it is for consideration. melissa: there you go. lou dobbs. you can see lou here every day at this time.

of course at 7:00 and 10:00 p.m. eastern. tonight wayne lapierre from the national rifle association. he is the ceo. he will be there with a new gun law in connecticut, a big hot topic right now. >> a big hot topic and nra, the only organization, the only individual in the country, individual organization actually talking about the solution. the administration, you know, it was just, rebuffed, they scoffed at this idea. the democratic party wants to take all the guns. meanwhile it is the nra calling for security at our schools and doing things about it. lori: we'll look forward. thanks, lou. >> great to be with you. lori: regulation nation, big business fighting back against a ban on bottled water? melissa: and next, a private eye with an ear on wall street. bo dietl joins charlie gasparino next. ♪ . oh this is lame,

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what's the "new" in the new new york?. no, no you can't come! a new property tax cap... and the lowest middle class income tax rate in 60 years... and a billion dollars in tax breaks and incentives. new opportunities for business. over 250,000 new private sector jobs were created over the last two years. and 17 straight months of job growth. with the most private sector jobs ever. lower taxes, new incentives, new jobs, now that's news. to grow or start your business in the new new york vit thenewny.com >> i'm cheryl casone with your fox business brief. former enron ceo jeffrey skilling could be getting out of prison early. fox news is confirming skilling is in resentencing negotiations with the justice department. so far skilling has served

about six years after 24-year sentence. he was convicted in may '06 on 19 counts of securities fraud, conspiracy, insider trading and lying to auditors. major league baseball drafting qualcomm to help improve wireless coverage inside ballparks. qualcomm says select ballpark reviews are underway. the remaining assessments will occur over the next two years. blackberry reportedly struck a deal with brooklyn's barclays center. the deal could be valued as much as five million dollars with the announcement made as early as today. the new arena is home to the nba's brooklyn nets. that is the latest from fox business, giving you the power to prosper.

melissa: sell the rumor and buy the news? facebook shares rising about 2% maybe because of the earlier fest, rob enderle pointed out investors are relieved the social media

giant is not making a phone. instead facebook is announcing a family of apps on android calling home. the downloads will be available on google store starting april 12th. had tc and at&t ceo on stage unveiling the htc first, which will support facebook home. this is obviously where the rumor of a htc phone was coming from. they are a partner with this app. so it is interesting to see shareholders here relieved that it isn't a bigger announcement. i don't know what that says about facebook in general. not a lot of confidence. lori: how we thought it could have been a facebook phone but actually a family of apps. i think you made a great point. sell the rumor, buy the news. melissa: sell the rumor that would have been a bad idea. this is kind of a blah announcement. lori: let's move it along. he is a former cop who run as private investigating firm, a tv personality. he knows just about everyone on wall street. bo dietl is talking to our very own charlie gasparino here in studios. hi, charlie, hi, bo?

>> he is a small businessman. >> small business. >> private investigator, private eye? >> i like right investigator. i used to be a real detective at one time for the new york city police department and i opened a business open 28 years ago i retired. we started that business, many other businesses. we got into security software for kids on internet. i developed, one tough computer cop. i had profiled on "america's most wanted" with john, all that stuff. >> john walsh. interesting. what i like about you, you do run a business and it's a tough business and you have to go to banks to get loans. what is it like as a small businessman? then we'll get into the wall street stuff which is fascinating. >> i run a business and i have about 600 employees. >> right. >> that work for me. the salaries are not really high-paying. these are security guard jobs which are low-paying jobs. i found all the banks, i can't get credit lines. every time i try to sign personally for credit lines they said, look, you had a

problem back there. what happened i bought a company which would not go bankrupt. i wrote it down. i don't do bailout no matter how many banks -- >> no matter what you good things you done. signed everything personally. sold two homes. they say we can't get it. now they tell me all of a sudden now i will have to give them five working days here in new york. >> will you stay in business? >> five sick days. obama wants to give everybody health insurance. you know what obama can do, obama can take my company along with other companies and we'll go out of business and you will have 600 families. you know what we'll do? put them on unemployment. for another two, three, four years. mr. obama will play golf somewhere. he doesn't care what is happening in real america. to him everything is a joke. he will have a big party. north korea threatens us. china is all over us with the internet. they're hacking 350 to $400 billion worth of intellectual property being stolen but president goes let's play golf. >> well you have problems. you have issues but you have a friend.

this is what i love about you, you know many people on wall street. your good friend is steve cohen of sac capital under a lot of pressure. you relayed an interesting story to me other day. you and him went out to milos up the block, very expensive greek restaurant. >> wait a second. i picked up the check. >> you picked up the check, good. >> i picked up the check. >> he came into the restaurant. came out what may backs? >> came out of his car. >> big-time car. >> you told him point blank, bo, talk to you about the media attention and you said to him point-blank, right now you're the john gotti of wall street. >> the problem here is, everyone's jealous of him. he and his wife alex are my friends. >> i know they are. what did he say when you told him that? >> he smiled because you know what? he doesn't understand why. he thinks that by doing what he is doing as far as cooperating with them as much as he can, which he is, he didn't do anything wrong. because he sits there, if you ever been to his office, he has hundreds of analysts,

hundreds. he sits by there. you can't get him from 9:00 to 4:00. he is doing it himself. not that he is getting information. he is developing p and e on corporations. >> why is the government after him? >> jealousy, jealousy, jealousy is what it all comes down to. >> the government is jealous? >> everyone is jell sus. u.s. attorney sitting there he bought a painting. he can do what he wants to do with his money. if he buys a house he can do what he wants to do. he earned that money and nobody else's business. when i ask him for charity him and his wife, first ones up for charities. most charitable people i ever met. >> when you said you're the john gotti of wall street he didn't say -- >> i hate to use that vernacular but coming the gunning after you. gunning after him for a reason. he is like the one that made the most money. they want to take him out. they want a big headline. you know something? you keep going at you know federal grand jury you don't need anything to indict somebody. >> few seconds we have left,

is he going to be around? does he think he will survive this? >> i think he will survive it? >> what does he think? >> he knows he is going to survive it and i know he will continue to do business. it will come up to one thing, his credibility and him telling the truth. he is one of the most honest and truthful guys i ever met. steve cohen, believe it or not, i do no business with him, no reason to -- >> you become friends with him. >> he is my friend. been at his dad's 90th birthday in boca raton. he is not as fancy as you think. he still drives around. >> wearing sneakers that night. >> people come up to him. he is very cordial to people. he doesn't have 18 security guys around him. >> he has you. why does he need 18 security guys. >> you want to know something really fast, charley, i'm involved with the security for corporations. there is a lot of corporations out there that have to about being hacked. this this is the new war coming out. >> we bring you back and

talk a little bit about that. >> hack-tation. >> on that note, back to you. lori: i could use a friend like bo dietl. awesome. melissa: as we do every 15 minutes let's check the markets. lauren simonetti on the floor of the new york stock exchange. lauren, how will you follow that? >> i don't know. the stock market is up significantly in the past couple of minutes, right? so that's the good news. two food stocks hitting life type highs. panera bread getting upgrade by goldman sachs. mcdonald's leading the dow industrials. they got a price target increase by goldman sachs to $108 a share. those are two competitors in the food space both doing really well. back to you. melissa: lauren, thanks so much. rising grain prices forcing hundreds of california dairy farmers out of business. next we'll introduce you to the so-called dairy queen who lost everything after 57 years in business. lori: the dow is actually climbing here, up 32 points. here is look at some winners

and. zero in on facebook. a relieving announcement. we'll explain it a little later. shares up nearly 3%. back with more after this. [ jackie ] its just so frustrating... ♪ the middle of this special moment and i need to run off to the bathroom. ♪ i'm fed up with always having to put my bladder's needs ahead of my daughter. ♪ so today, i'm finally talking to myoctor about overactive bladder symptoms. [ female announcer ] know that gotta go feeling? ask your doctor about prescription toviaz. one toviaz pill a day significantly reduces sudden urges and accidents, for 24 hours. if you have certain stomach problems or glaoma, or can not empty your bladd, you should not take toviaz. get emergency medical help right away if your face, lips, throat or tongue swells. toviaz can cause blurred vision,

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melissa: california is the top dairy producer in the country but farmers there are struggling with high feed prices and artificially low milk prices. after 57 years in the dairy business, our next guest had to sell off her herd and her farm. mary cameron joins us from her old farm in california. mary, we don't have a lot of time. i want to get right to the story so people understand what is going on in california. basically feed prices have risen but you farmers were not able to raise your milk

prices in order to save your margin and stay in business because of different state regulations that force you to keep your prices low to benefit the cheese and ice cream makers? is that right? >> i'm sorry. can you speak louder. melissa: sure. i'm trying to figure out how got into this situation. my understanding is that the prices for feed and grain have risen but you haven't been able to raise your prices at the same time to stay in base us of state regulation. is that right? >> you know i would love to be able to answer that but you have to speak louder. >> just teller what happened to you. >> what happened to me? in the last four years our feed costs have skyrocket and we, in order to get the kind of production we want, we have to feed our cows a very high protein feed.

those prices have gone out of the sky. so it gradually happened and i think we should awakened to it that we were going to have higher costs. and then in the meantime the, money that we were receiving for our product was going down. for example, my feed costs run about $12100 weight milk but i'm only receiving $17100 weight. i have $5 in order to pay labor and all the costs involved in running a dairy. it was a very, very bad situation and there are dairy men going out of business every week. we have bankruptcies. we have disperal sales. and of course that's what happened to me. melissa: mary, can you hear me now? no. >> no. melissa: too bad we wanted to talk to mary cameron. such a sweet lady. we'll try to hear more about the story and pick it up later. thanks for stick with us and

for trying. lori: good effort on your part. might as well call it liquid gold, 50 bucks a gallon, 13 times more pricing than. maine syrup, more than tap of a buck debt, -- bucket, thieves are stealing tap from private property and making syrup themselves. criminal charges are rarely pressed, syrup looting is problematic for maine mable business and landowners. are have you ever tapped for syrup. melissa: i worked in maine and new hampshire and. lori: it is cool and lot of work but it sure makes a difference. you know the difference between the grocery store brand and real stuff so. melissa: coming up tonight on "money," we're breaking down the business of crowd funding. looking at money behind this phenomenon, with chance barnett, or barrett, sorry. he is the ceo of crowd funder and toby daniels. ceo of social media week. that is tonight at 5:00 p.m.

eastern on fox business the you can raise millions for your business. lots of people have. it is a huge phenomenon now, crowd funding. you need money, watch tonight. we'll show you how to get it. lori: we'll take it. melissa: that's right the. lori: so the market is kind of itch soing for direction here. you have the dow just up 34 points. it had been higher by 80 just like five minutes or so ago. we'll continue our coverage of the trading action. the question is, more upside. record market has room to run, ashley webster who are walking in right now. stay with us. fox business.

tracy: good afternoon, i'm tracy byrnes. ashley: i'm ashley webster. caution for the day ahead of tomorrow's crittoll jobs

report. it had been up 75 points i should say earlier today. tracy: facebook's highly-touted launch is not a new phone, not an operating system but instead what mark zuckerberg calls, a family of apps. for the android phones of course. the stock is jumping on this news. we'll have detail ahead. ashley: oil prices tumbling for a second day, now trading below $9 a barrel, for first time in two weeks. former shell oil executive john hofmeister will tell us where oil is heading next. where he says americans could save big money on energy if only the government would let them. tracy: if only. the dow is up 33 points. top of the hour, time for stocks. lauren simonetti on the floor of the exchange. >> hi, traysy, hi, ashley. the market is trying to come back. nasdaq reversed course up by not much but well take it. materials, financials and telecom leading this market

higher. for the week, struggling. very choppy week, tomorrow morning will be interesting with the unemployment report for the month of march. let's look at oil right now. it has been down in three of the past four sessions. yesterday the biggest percentage loss for crude of the year. right now, down once again, trading, under 93. just that $93 a barrel. back to you. tracy: thank you, lauren. see you in 15 minutes. >> all right. >> a new report just out on political intelligence which can help investors anticipate government actions and of course make money off the news. it comes three days after startling jump in health care stocks thanks to a prediction by a washington-based intelligence firm. hmmm. peter barnes on this story today. interesting stuff, peter. >> that's right, ashley. this new gao report, says regulation of political intelligence is murky and complicated. as we saw on monday, when a report from the political intelligence firm here in washington, height securities sent health care

stocks soaring about half an hour before the release of a important government medicare decision that this kind of information can move markets. congress has been looking into whether political intelligence requires more regulation and asked the gao to study the issue. the gao found quote, there are no laws or ethics rules that specifically govern the sale of information by a political intelligence firm. however, there are laws and -pethics rules that may govern the purchase and sale of material, nonpublic information. and ethics rules that govern nonpublic information. among other things, the gao also says, it is hard to quantify the prevalence of political intelligence and hard to categorize information as material and nonpublic sources. height securities told its clients that the obama administration would reverse occurs on proposed cuts to medicare advantage program. the company said it had been following the issue for some

time and it did nothing wrong. ashley and tracy. ashley: always a blurry subject. the whispers in the hallways, who is breaking the rules. what is congress considering, peter? >> some members at a minimum want more disclosure of political tell ends did and firms and people who do this kind of work, specifically, people who would have to register themselves just as they would, you know, as a stockbroker would or an investment advisor would with the sec and have to disclose their activities. ashley: peter barnes in d.c., thank you so much. >> you bet. tracy: stocks gave back some of their morning gains although the markets are trying to climb back up. our next guest says a pullback is buying opportunity. the dow and s&p will hit substantially new highs this year, joining us milton ezrati lord abbett out in jersey city. sir, we've been hearing more and more about this. market dual for a pullback.

we need a little bit, we're not talking full-blown correction here, right? five or six or 7%? >> you could see as much as 10%. you doubt it, but the market gets a little ahead of itself from time to time. it faces a few disappointsment. it pulls back. we're long-term investors. we look at fundamental value. we see more upside, we see any pullback, five, seven or more as a buying opportunity. tracy: do you think earnings season will be the catalyst that sets this thing off because expectations are pretty low, right? >> well the pricing suggests that the market is really anticipating something pretty ugly which is a great opportunity even if you expect mead owr news. that will be relief for what we believe will be priced into the market. from time to time, people get a little exuberant and they get news the economy is really is slow. so they give back the ground. but to us, that is just noise. the underlying theme is that this market is well-priced. tracy: do you worry about

the noise outside of this country though? we worry about china. didn't come to fruition. we worry about japan and europe. my mother says i worry too much. is she right? >> well we all worry. the question is, what are the likelihoods? anything can happen. there is always risks. the european situation remains precarious. the market seems to be braced for the euro to disof as a common currency. countries are to be thrown out. you could still see a lot of trouble but say we're not going to see the worst of it and the market will be relieved ultimately and we'll be able to realize it is gooding and move up. tracy: get rid of it all already. tell us what you like during this buying opportunity. consumer discretionary is coming back, huh? >> we think anything cyclicly sensitive will come back. we like consumer discretionary, industrials, technology. we actually like financials too because if the european situation, even if it doesn't get good, if it just

avoids some of the worst fears people have, that could help financials come back, and so we would be in the more aggressive names in this situation. they have the best pricing and they're the mess likely to benefit from the relief we expect the market will get. tracy: they do. i agree with you on that. they haven't been really performing right lately, right? almost like there is something weird going on in the background. is that europe? there seems some unease in the financial sector right now? >> well there's the european situation. people are worried about this. the japanese situation, whether the japanese can really get of the ground. i think we've gotten some disappointing economic news. tracy: yeah. >> people came into the year saying the economy is coming back. now we are getting news to say no, it is still as sluggish as it ever was. it is still growing and it is sluggish. there is downward adjustment to us when. we look at fundamental pricing. this is the opportunity to go in and go in on the more aggressive side. tracy: you like the industrials as well. are you playing the nat-gas industrial revolution?

>> yes. there are great opportunities there. not in the commodity itself but in the drilling and transmission. tracy: sure are. i love that you said, nothing is particularly all that frightening. all is well with milton ezrati, thank you so much. calming our fears. ashley: just when things are so good you always want to worry just a little bit. tracy: that is why i worry. ashley: you're not the only one. coming up faust book shares jumping on its new launch for android phones. shibani joshi has all of the details next. tracy: still ahead, former shell oil president john hofmeister says the government could help make energy prices a lot epcheaper. he will explain that coming up. as we head out to break the dow is up 30 points. $1.56. $92.88 a barrel. we'll be right back.

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ashley: facebook ceo mark zuckerberg introducing a facebook family of apps, not a phone or operating system. the company is calling it home. tech reporter shibani joshi now joins us with all these latest developments, shibani. >> hi, there, ashley. facebook investors are breathing a sigh of relief. we did not get much talked about, much criticized even before it didn't even materialize facebook phone. facebook shares are moving high every at the close of the company's announcement, starting at the basically the end of the 1:00 p.m. eastern time hour. now in the words of mark zuckerberg, the company did not build a phone, did not bring a built-in operating system but, built something deeper than an ordinary app. what he is trying to do, turn home screen of your phone into more personalized experience. so you don't have to unlock the phone and get to an app. you have facebook right on

your home screen at any moment you want it. so it's called facebook home. what exactly it is, it a new app for lack of a better word or software program that gets status updates, messages and comments and likes directly to the home screen of an android phone. all without having to launch or access an app as i mentioned. taking finger steps out of the whole event, sequence of events. the event, mark zuckerberg unveiled at 1:00 p.m. eastern time. and also, unveiled a phone but it is not called the facebook phone. it is a phone released by htc called htc first. which is a first-hand set that will have the home software preloaded on it. all of this, whether you are an htc buyer or just an android phone holder, all of this will become available on april 12th. if you have another make and model of android phone you

need a facebook earning messenger and app on your phone an download it on april 12th. no facebook phone but something mark zuckerberg is pretties jazzed about and so are investors today. ashley: shibani. thank you. interesting that stock is up on relief they're not coming out with a facebook phone. tracy: do what you do. do one thing. don't need to make shoes if you make ties. ashley: very good. very profound. yeah, that's good. tracy: got to go to charles payne before i dig a bigger hole with myself. going to add travel to your portfolio really? will it take me there too? >> it can take you there but you will have to pay. orbitz, do you use orbitz? ashley: it is such a crowded field. >> one of the stocks that got hammered and certainly lost market share. i like what they're doing. cut wages big time, contract labor. the money they invested in network communications was huge. they're trying to get with it.

speaking of facebook, in january they had 475,000 fans. trying to get into this whole niche, ebookers. i think it is working out for them a little bit. air fares, is not working but hotels like everybody else, advertising, marketing all that stuff is really working. the stock is looking fantastic right now, on the cusp of a nice breakout. there is still a big short position. as it moves away from six i could see a short squeeze. looking for 6.90 short term, 7.60 longer term and $5 as a stop-loss. tracy: amazing the stocks done through the whole recession? nobody stopped traveling. they traveled cheaper. thank god for these sites. >> if you get a chance look at hertz and where the stocks were march of 2009. you say to yourself gollly, was hertz going out of business? i could have bought it for whatever pennies. absolutely amazing. ashley: i see a little bit of a backlash because i get the sense people are not always sure they're getting best deals.

tracy: i agree with you. ashley: there are ways, even going straight to the provider to get a better deal i think that hurt as little bit. >> it does. overall it is the wave of the future. we'll see. this is stock that has come back a lot since nowhere near the all-time highs like 14.55. tracy: i think it is because we're old. we don't trust it. ashley: yes. tracy: the kiddies are using it and trusting and traveling it. we think we're getting a good deal but we want to check out a little more. >> we understand if you make neckties, don't make shoes. we understand that. tracy: you will use that line forever, i know it. ashley: what if i make belts? thank you, charles. >> see you later. tracy: what about mash potatoes. ashley: quarter past. mash potatoes. i'm starving. time to check the markets with lauren simonetti on new york stock exchange. wondering if we ever go to her. >> i'm making you more starving. we're talking food stocks.

goldman sachs liking names. all of them like mcdonald's and panera bread and surging and hitting highest levels in history. yum! brands, for instance, the price target there, increased to $69. buffalo wild wings, getting $91 price target, darden owns red lobster. getting a 52 price target. goldman positive on all these names. back to you. >> i am hungry. thank you very much. appreciate it. tracy: on deck, oil prices sliding nearly $5 the past few days. former shell president john hofmeister weighs in on oil's next move. ashley: first let's look how the dollar is moving right now. it is central bank thursday. the euro dropped initially against the dollar. it has strengthed a little bit at 1.2936. pound is up a little bit today. bank of japan, launched an

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>> 20 minutes past the hour right now. i'm jamie colby. this is your fox news minute. the university of rhode island is still on lockdown.

authorities investigating reports of a possible gunman. all classes have been canceled at the kingston campus. everyone is ordered to stay indoors. police officials telling fox news chafee hall has been cleared and checked. no injuries reported but police are still checking the rest of the school. meanwhile connecticut governor donnell malloy signing the nation's toughest gun control bill into law. this is in response to december's deadly school shooting in newtown. that bill adding more than 100 firearms to the state's assault weapons ban, creating a registry for dangerous offenders, and banning the sale of high-capacity ammunition magazines. the latest on north korea. u.s. officials telling fox news there is intelligence that north korea is moving around mid-range mobile missile launchers which could indicate a possible test launch. the pentagon closely watching this situation. those are the headlines at this hour, i'm jamie colby.

sending it back now to ashley. ashley: jamie, thank you so much. appreciate it. >> take care. ashley: u.s. oil companies say that the government should allow crude exports. meantime environmental groups say president obama should reject the keystone pipeline. my next guest has an alternative to all of this. joining me now, john hofmeister, founder and ceo of citizens for affordable energy and former president of shell oil. i know you love natural gas, john. let's get to the oil question first. let's talk about exporting oil from this country. domestic oil production is booming. do we have to use every last drop? what's wrong with exporting some of this? >> well, the interesting part of that question is the fact that we have a lot of oil concentrated in the middle of the country, that we really can't move to the east coast or the west coast where we have refineries. and so we end up with a glut in the center of the count which naturally says if we have too much oil here, let's export it. the reason they would

propose to export it, and this is ironic, that we have laws in the u.s. that prevent u.s. port to port shipment of something like crude oil, except in jones act ships. and we don't have any jones act ships to speak of. and so the only alternative is really to export it. unless congress were to change the laws. then we could move oil from houston, let's say to new jersey where we have refineries. but we really can't do that with the jones act still in place. ashley: that is insane, isn't it? >> then it says, what are we going to do? ashley: yeah. a lot of refineries we produce light sweet texas crude if you like and refineries are more geared up perhaps to refine heavier oil. is that right? so couldn't we take some of that nice light crude and make some money from that elsewhere? >> well we certainly could but i would rather shift the conversation to because we're still importing oil on the east coast and the west coast.

i would rather shift the transportation fuel discussion to a way of eliminating imports. because if we're eliminating imports, that is not as difficult to export. and if we could eliminate imports, for example, by transitioning to more natural gas as a transportation fuel, that would, that would seriously reduce the cost of transportation in this country because we would end up with natural gas as an alternative fuel. whether that is liquified natural gas and compressed natural gas for trucking. or, let's produce methanol from natural gas to use in flex fuel vehicles to increase the amount of alcohol in the gasoline, which then means we can stop importing so much oil, which is really what is the bain of the united states economy. oil imports are costing consumers a fortune. and its is unnecessary. ashley: you mentioned because natural gas is for transportation fuel. it is out there.

there are a growing number of vehicles that use natural gas but there still an awful lot of infrastructure that has to be put in place. how likely is that given the federal government is essentially bust? >> well, the government should not have to pay for the infrastructure. that's private invested money. private investors will make a lot of money off that infrastructure. here's what the government has to do and it doesn't cost a dime. they need to establish enablers, permits, licenses, send a direction. have the president, have the congress say, we want to dramatically increase natural gas for transportation fuels, and set the enablesers in motion. for example, the epa would need to approve use of methanol in gasoline. tell the epa to get on the stick. get going, epa. let's find out what it will take to make that happenp then you would see private investors have no issue with

investing in infrastructure, and it would lap in the way markets normally grow. ashley: you said it perfectly, john. i hope they hear you down to washington and the epa offices. thank you so much for joining us, john hofmeister. >> thank you. ashley: we have so much natural gas and he's right. there are growing number of large vehicles that are using natural gas now, and so much cheaper and better for the environment too. although some environmentalists will argue that because they say it creates more greenhouse gases. however much cheaper. don't have to rely on imports and pay all the known you have to -- money you have to pay to fill up your big machine. that is a good thing. tracy: if you want to get rid of that, get rid of aqua net hairspray. ashley: good idea. tracy: they're supposed to be the smartest guys on wall street but they're underperforming the broader market. liz macdonald will look why hedge funds are lagging.

ashley: yeah. jeff flock takes us inside one company profiting from the housing rebound. jeff? >> i have got something to show you today, guys. look at all this stuff. that will turn into paint rollers. i'm at the largest maker of fabric for paint rollers in north america. look, they're mixing stuff up there. they will knit it into paint rollers. i will show it to you. tremendous innovation in the history of paint rollers when we come back here on the fox business network.

ashley: hatch past the hour.

taking a look at the dow 30 for you. lots of green on the screen. hewlett-packard having a good day. at&t, mcdonald's all in the green. on the other side though alcoa, microsoft, ibm. ibm off about right now. let's go to the new york stock exchange where lauren simonetti is anding -- standing by. >> we just talked about the fact we had a huge selloff, 1% for the broader market yesterday. you would expect a bigger pop, keith, today the why are we not seeing market make up the losss? >> especially with the bank of japan will join what i call the monetary policy from hotel california. you can check out but you can never leave which is what we're getting now. we picked up some very bearish patterns inside the market. >> talk about those. >> transportation and small caps. they broke through bullish trendlines while the broader indexes continue to rally. when you see divergence like that you have to stuff step

up and pause. it gives us a little trouble figuring out where we go in this market you have got basic defensive sectors leading this rally. talking about utilities. talking about staples and health care. those are traditional defensive sectors which leading rally, take us to all-time highs. growth sectors like technology, financials and consumer discretionary. we've not seen that. >> apple has been going down? >> yes. that is one thing we picked up. serious divergence every time the market rallies, apple goes down. every time the market goes up. apple goes down. it has become the 10-year bond. >> with that. back to you ashley and tracy. back to you in 15 minutes. >> hotel california. can't check out. tracy: hedge funds underperformed the broader market in the last quarter. lizzie mack is here with lizzie mack's bottom line. >> all your viewers should be encouraged by this report. if you bought the s&p 500

spdr you would have done better than big guys on wall street. here is what is going on. first quarter performance for hedge funds, worse, even worse than last year's performance. both first quarter and last year's performance lagged the s&p. the s&p is up 10%. these guys are only up 3, 4%. last year they were up 6%. s&p was up 16%. what i want to show you is the big guns. dan lobe we know is up 9%. still underperforming the s&p. look at his picks we want it show you. we know yahoo!. and nikkei, 225. energy play on lng gas and also virgin media. i want to show you losers. i want to get to bill ackman and get to david einhorn. they came in 6% underperforming the s&p. word is out on the street, hey, they sold stock maybe bought commodities and bottom the doled lar and missed commodities.

less exposure to stocks but they borrow less to amplify their best. they were too cautious because they got learned in 2011. basically they're going long a number of stocks. einhorn, for example is going long gm. big bet on that and going long apple. so that's the play here that these guys are sitting tight and hitting their portfolios now but they're long bets in here that are dragging down their gains. tell you, this is a heck of a story. again if they repeat for 2013, first quarter performance, you goo is, ashley and tracy, this will make, mark five years, five years that the hedge fund crowd has underperformed the s&p 500. ashley: wow!. >> so that's a big deal. tell you again and again. you guys know how to do it at home. maybe buy an s&p 500 spdr and beat these guys. tracy: my god, with all the fees you're paying for underperforming returns. >> that's a great point. tracy: i would just have lizzie do it. >> tell you one caveat please.

einhorn has been beating. he has been up 22% through 2010. ashley: okay. >> but these i am being, through 2010. the average for the whole group of hedge funds, the industry average is being dragged down. it is not doing well at all. interesting stuff. >> breaking news. oil closing at $1.19, $93.26 a barrel, slide is 1.3% marking the second day of losses. ashley: many home-improvement related companies are having a big year thanks to the housing recovery. jeff flock is in wisconsin, home to the largest major of fabric in north america. jeff: we always find interesting stuff. look at this stuff. it will be paint rollers sunday.

amazing stuff. talk about ways to benefit from the real-estate run-up without investing in real estate. how about sherwin-williams? they are huge, they are up 200% over a five year period and you mention the ones you think of like home depot and lowe's, they had a great year too but i had to show you something up close and personal. these guys took their technology and developed what i would say is a huge change in paint rollers. the old hard paint rollers, they are making ones that are flexible. you can collapse of them down and shipped them this way. they are shipping them all around the world. is an amazing innovation. i told the ceo of the company earlier this has got to be the biggest innovation in paint rollers since they were invented in 1940. take a listen. >> i agree. our customers are seeing a bump

in their business so for us we see it as an opportunity for them to go to a retailer and said it performs better and takes up less shelf space so gives you more real-estate to sell other products. >> that is the old paint roller. the hard one goes on your thing, the new one collapses and that is the way it comes out. i leave you with this. the best performers. if you want to invest in the housing recovery without investing in real estate, take a look at these stocks. i will leave you with them, lambert liquidators up 174% over one year. louisiana pacific, eagle material mohawk industries. these are the players that drive when housing recovers. i love this whole place. it is great. ashley: we love the buzz. thank you, fascinating stuff. as we see a housing recovery no

matter how slow and bumbling in it may be, there are many people who benefit from it and that is one example. >> i have never seen him so excited. all right. to serious things, japan and the fed stimulus train. we will tell you why investors should pay attention. ashley: returning with $130,000 electric car. not cheap. we have the specs ahead. time to check those 30 year treasuries. we will be right back. my mantra?

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ashley: call it a tale of two central banks, bank of japan unleashing one of the largest monetary stimulus plans ever while the european central bank says not so fast and continues to do nothing. oppenheimer director of fixed-income is here to break it down and what does it mean to us in the united states? thank you for being here. let's begin with the ecb. you saying they're playing a dangerous game of chicken with global markets. >> they have to do a lot to revive the economy and make sure the damage caused by cyprus goes away quickly because otherwise it would be digging a bigger hole. they don't seem to be doing

anything about it. other than talking and promising things, they are -- ashley: they don't need to cut rates and need to keep their gun held to drive. would you agree with that? when is time to act? we would think it would be now. >> after cyprus the markets of little bit, get some confidence back in the market and the way they do that is doing specific things and right now they are not doing specific things. the contrast relative to bank of japan could not be more stark. ashley: bank of japan unleashing the bazooka, not disappoint anyone who says they may disappoint. >> absolutely not. they came out of the gates shooting really big guns and if they follow through and deliver you can see a big jump in the economic situation in japan and that has global consequences. ashley: what other consequences?

what impact does that have in the united states? >> it gets global growth going, a big policy initiative, easing measures that can help the japanese economy and that helps the overall global economy. in addition it reduces the drag, the structural issues in japan all over the world. ashley: japan is good for the world economy. >> japan is a necessity for the global economy. ashley: is killing the yen, getting cheaper and cheaper. hard to compete against. >> that is the unfortunate consequence for the u.s. producers but in the long run, having a healthy japan, japan is growing, not dealing with deflationary pressure will probably be a net positive despite the pressure. ashley: are central banks painting themselves into a corner? rather than looking at how

effective this has been they get into deeper and deeper and there's a concern about where is the end? >> that is a good question that we would rather be with later rather than right now. right now their priority is to get a global economy growing again and that is what their focus on and if that requires to hang yourself into a corner so be it with that issue. that is where they are approaching it. ashley: they are not close to the corner. >> not by any measure. thank you for being here. appreciate it. ashley: central bank thursday. tracy: time for stocks every 15 minutes. lauren simonetti on the floor of the exchange. >> a tough couple weeks for lulu lemon. when the recall happened the stock was at $70 and now is hovering around $65. 1 billion dollars in market capitalization wiped out for the

company. the news yesterday it that there are two products officers leaving the company, resigning. we do not know why. sending the stock up 1.5% but the folks at rbc capital markets are not completely optimistic, downgrading lulu lemon from outperforming to sector perform and if you look at this chart it has been ugly for lulu lemon. thank you very much. ashley: see through yoga pants popular to some. >> someone could market that. ashley: let's change the subject entirely, rising grain prices forcing hundreds of california dairy farms out of business. next we will meet one farmer calling on state lawmakers to take action. ashley: as we head to break the dow is up 45 points. take a look at the winners and losers on the nasdaq. facebook up 3%. we will be right back. what's droid-endurance ?

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tracy: at the top dairy producer in the country, farmers are struggling with high feed prices and artificially low milk prices. joining us is tom marcellus, president of the western united dairy men, representing 1600 day. really quickly, tell us what is going on because your industry

is dying. >> the real difficult part is we are faced with high feed costs related from the drought in the midwest last year. milk prices are up, not high enough but at the same time they are not covering costs. everything is related to 2009 when milk prices were exceptionally low, we got through that by taking a second mortgage where we could get back on our feet and many producers were not able to survive this year when the feed stock took off through the roof. i am in a neighbor's facility that went out of business because of that. tracy: margins are really high, you are not getting money back on the sale which is why you are in support of this assembly bills 31 which is actually raising milk prices for us. >> it will raise milk prices to the dairy producer not to the consumer. basically what it will do is bring us into a closer

relationship to surrounding states. everywhere else in the country getting more money for a certain portion of their milk that is left over after processing and we are entitled to the same dollar coming out of our product. tracy: you are assuming they will not pass it on to us. >> there is no assumption. we are adamant that it won't go on to the consumer because it will mean $1 or 100 in dairy terms and it wouldn't amount to half a cent to the consumer so it is not anything that should affect the price of the market. tracy: will this help and make a difference for all the dairy farmers potentially going out of business? >> absolutely. it is another 8% or 9% on what we are getting for our milk now and it would make a substantial difference. it is too little too late for some. it would stabilize it for those

of us going forward. tracy: a lot going on with environmental regulations, taxes, everything going up. have you thought about moving the farm. can you do that? >> not without taking a lot of money and building something else. not like hooking on to the trailer. this is rooted in concrete. defect that the fact that my da grandparents immigrated here -- tracy: this is a staff people don't know. 100 cows create 25 jobs for california residents annually. how many did you have? >> we milk 1400 cows on two facilities. my original facility and another one that we actually put my son

and lot in recently and combined worth 1400 cows. tracy: good luck to you. i hope this passes for your sake and i hope there are a lot of jobs out there. thanks for being with us. >> we do too, thank you. ashley: breaking news, sources said a wells fargo's web site has been hit by another cyberat fact, it is loading sporadic we. wells fargo did not respond to request for comment. last week wells fargo acknowledged the distributed the attack that triggered intimate disruptions for some users. that is the latest on that. after a 74 year hiatus, detroit electric is making cars again. the automaker unveiling the limited edition electric sports car, there it is. the thing around is not going to come cheap. will have a price tag of

$135,000. it will reach a top speed of 155 miles per hour straight down sixth avenue in new york city, could go from 0 to 60 miles per hour in 3.7 seconds. they troy electric says it will be the world's fastest put your electric car when it goes on sale in august. if you are interested in buying when you better get in line early. only 999 will be available to the public. ashley: comes with a giant tea on the back. why do that? tracy: why not a driver? struggling to sell cars, let's put out -- ashley: with play money and look at that. tracy: for what? to save america? why am i buying that car? ashley: it is fun. you don't have to go to a gas station, plug it in and go

flying around at 50 miles an hour. tracy: take a mortgage out on the home and plugged the car in. ashley: they don't worry about the mortgage. tracy: we will talk more about facebook. it announced a new family of apps. does the street think it will boost the stock? is a battle of the bears. liz claman has that and these markets. "countdown to the closing bell" is next.

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