get to that of the week after that. i'm dagen mcdowell. she will go. now she gets that sit at home and get paid by you, the american taxpayer. how many people really pushing for this targeting. targeting our nation's energy providers. passengers aboard this british airways flights have this care of a lifetime. filling up the holiday weekend, not any cheaper than it was a year ago. americans would still rather drive and flight. he blames them? those stories and so much more coming up on markets now. ♪ the top of the hour. stocks now and every 15 minutes. nicole petallides at the new york stock exchange with a market that has the list from the better than expected durabl

goods numbers. >> we have some aberration out of germany about confidence. we have had a couple of days of selling. that turns around. we are seeing is more selling, and then it really feeds into this people who says smart mone has begun to sell. the market is taking a little bit of a breather. no one really knows. you are seeing at down arrow. we have had four straight weeks of gains, but many were all-tim highs. today in this week you're seein it down arrow. we have seen the momentum changed immobile we're seeing o the dow jones industrial, 28 of the 30 names are lower. procter and gamble, the changin of the guard. for the most part it is selling across the board. dagen: now the latest on the ir scandal.3 the head of the tax-exempt division of the irs has been

placed on administrative leave. she refused to resign. other words, taxpayers are now putting the bill for time off. senior economics writer at the wall street journal check your joins us now. so much to talk about. what about this, hey, she gets paid and sits at home. >> you know, i was -- you know, when i heard as she was put on administrative leave i had to realize that that actually caus the pay. when i was eating nigeria's thi morning and heard the news, i almost choked. i think most americans did. why should she be paid for this time off when she was coming it looks like, potentially engage in illegal -- sigell activity. the real question is, why hasn' barack obama fired this woman? she is a public servant. she went before the congress an he took the fifth amendment, bu it does smell of a cover-up. it is a situation where the

president has to fire her, not give her administrative leave with pay. dagen: what about not just firing hurt, but if you're the president of the united states and/or intentionally not told about this investigation being done of this and targeting the irs, the fire council? you fire others with at the white house? >> i think this chief of staff new about this and the council vote was held disinformation from the president, so he can have both possible liability. they withheld disinformation, which obviously was extremely important in terms of video activities being -- taking place . withholding that information from the chief executive office which is the president, yes, they must be fired. i would not be surprised if all three of those people fired. dagen: how do you think this unfolds? we still really don't know who ordered the targeting, when it happened exactly, why it

happened, explanations for why this was going on within the agency. totally impossible. this somehow wanted less paperwork, but they were dragging their feet and creatin more paper work for themselves by going after these conservative groups. wendy you believe that we get some straight answers about this ? >> what puzzles me about this scandal is what might have just been at many scandal of some people, you know, and engaged i some kind of political activity maybe some of the lower-level people. the reason this has become a scandal the walk away, as you said the outset, weeks and week and weeks. just about everything that has happened in the ten or 12 days since this story broke, it look like the administration is covering something up. of course you know this, the real problem was not the break-in but the cover-up with watergate. the actual question is, this is not going away anytime soon. congress is infuriated.

members of both parties. i would make one other point. this is a financial shell. the fact that the administratio has had so much of its attentio diverted to this crisis and the scandal, it has been bullish fo the market. people feel like this will hurt them for a while. dagen: it might have died down if she had not sat there and play the fifth again. >> you are exactly right. the fact that no one wants to talk about this and everyone is taking the fifth. by the way, i would not be surprised if others do as well of the weeks ahead. the american people are going t be angry about this. of course i said this summer show earlier this week but i will say it again. the reason the scandal resonate with the american people is because it is the irs and peopl feel like if they can do this t these organizations, who is the next person? dagen: it is not lost on any american, the power and reach and viciousness of the irs, whether it was previously

politically motivated or not, people was scared. and that is why they are angry about it. >> and that is why we need a flat tax. if you get rid of two-thirds of the exemptions you're not going to need all of these irs agents and you're not going to need these people snooping into your financial records. dagen: by the way, when i said criminal law was not directly referencing lerner, but it smacks of criminal activity whe you take the fifth in front of congressional committee. just saying. the latest foreign country to launch cyber attacks against th estates. companies here reportedly hacking into the computer networks running energy companies. this is according to the wall street journal. rich edson joins us from deasy with more. >> reporter: in their report u.s. officials are concerned that cyber spying is gathering

intelligence. traders could later use it to damage infrastructure. some on capitol hill charge companies aren't prepared for such an attack. democrats and house energy and commerce committee report computer systems are tolerable. in a statement, vital to our economy and national security. the utility responses are sobering and reveals serious gaps in the security of our electric grid. congress needs to address these gaps in a non-partisan way. companies said testified in the past, they're investing in some security and working with the government. there is also a new report offering recommendations of businesses to protect their trade secrets. mostly from hackers and china. it suggests changing u.s. law t allow private companies to hacked back at hackers if intellectual property theft continues at its current considerable pace. one analyst says, that's a bad deal. >> it could turn against you as

well because these are very sophisticated people. what if they do a ruse attack and exxon mobile decides to go attack what they think is a hacker server and a reality is an american server and wind up destroying somebody by accident. is a very dangerous thing. >> this country should operate on defense. dagen: have a great weekend. make sure to stay tuned for one hour to of cyber security hoste by a connell mcshane called at risk, the cyber threat on monda at 1:00 p.m. eastern time. the special takes an in-depth look. a critical infrastructure of financial markets, emerging technology. it sounds great. i have not seen it, but i will. wall street already in flight. the big money players said now to the memorial day weekend. the exodus from flight aware

tracking of lights going out east. in favor of relaxation. the money, man, and women. here is our one third-generatio easthampton native described activity on twitter earlier thi week. joshi link wrote air force 1 percent seems to be lending a couple of days earlier at east hampton airport. who is minding the markets? time to cut the lawn is correct. kelly minding the market's working in visiting with us, leo , given what happened with the federal reserve this past week, ben bernanke and crude from the minutes of his testimony, he really did not give us any clarity about what they're going to do with the bond buying. they give us a markair scenario. do you think that investors are going to be an hold until we ge some indication of what they're really might do in the coming weeks and months? >> said think this is a time fo

question. is having a lot of clarity in their explanation of what their activities are hoping. cause any investor to take a step back. they're clear that they raise the balance sheet. you know they can't keep doing that. how they will online this unprecedented. dagen: the exceptionally low interest rates. hubbell might be police frame. it will find that represses. we do have earnings.

short-term it is it's time for questions. >> you have to look to be disciplined to of all the strategies i should put some on the table. now's the time to be disciplined . we don't want to on any long-term treasurys use health care. essentially don't use inflation. it is in stocks, bonds. having the yield for the treasury doesn't make sense. >> and it could come back to bu you.

dagen: the price of treasury ca fall. >> safely using money every day. this is one of the rare times. that is a negative return. dagen: great to see you. be well. the scary scene in the skies over london. we will show you how this plane got safely on the ground at heathrow. and the credit card wars continue. retailers are piling up to sue visa and mastercard overflight fees. ♪ i wanto make things more secure.

[ whirring ] [ dog barks ] i want to treat mo dogs. ♪ our business needs more cases. [ male announcer ] where do you want to take your business? i need help selling art. [ male announcer ] from broadband to web hosting to mobile apps, small business solutions from at&t he the security you need to get you there. call us. we can show you how at&t solutions can help you do what you

♪ ♪ dagen: two big regional names

join the fight against credit-card swipe fees, target and macy's along with 15 other retailers are suing visa and mastercard over credit and debi card fees. the retailers are claiming that the payment card companies in the league agreed -- excuse me, rich shrek -- restrain competition competition. the retailers dropped out of a previous lawsuit with a $7 billion settlement. eras' of the other big-name retailers involved . an emergency landing. smoke could be seen. you can see it in this video here, telling behind. quickly evacuated after the plane landed safely. the airline has started an investigation into the incident along with the air accident investigation bureau has said i

had yet to determine the nature of the problem. stocks now, shares of pandora are selling some to gain. >> reporter: we are seeing pandora move to the upside again , and it is a new 52-week high. such trading right now. for a half percent. this is after the company can now with quarterly numbers that were better than expected. the stock at 1796, at its highest point today. they have obviously been on the rise with their numbers. they have also had increased subscribers, mobile ads. also, another thing of the employment was the 40-hour count . so once you reach that limit yo can pay an additional fee to continue to hear your music throughout the rest of the month . we have heard of people doing exactly that, and obviously, on more little feet. the bottom line. the balance sheet. ultimately you're seeing pandor do very well today. dagen: thank you. an argument for spending on

infrastructure, a bridge in washington. crumbling down. and more on less lenders paid vacation. wayne rogers is here with us. he is not happy about that. again, a government that increasingly is overreaching. we take a look at the world and their currencies, how they're holding up against the dollar today. ♪ thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions...

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♪ >> reporter: get 22 minutes past the hour, and heather with your fox news minute. british police have arrested tw men aboard pakistan international airlines plane on suspicion of in danger in aircraft. diverting the flight carrying 297 passengers toward mancheste and exited the jet. the airline confirmed the actio was taken for security reasons. state authorities say the bridg collapse was caused by an oversized truck. two vehicles went into the wate and three people were rescued. about an hour north of seattle

just south of the canadian border. the commencement address of the u.s. naval academy. and those are your news headlines on the fox business network. i'm heather childress, and now back over to dagen mcdowell. dagen: have a great week. good to see you. of the nearly 35 million americans expected to travel th solid weekend about 90 percent of them will be driving. "get me started on how crappy flying in these days. nevertheless it still costs about the same to fill up per gallon as it did the year ago. joining me now on what to make of this, jack girard, ceo of th american petroleum institute.3 does that surprise you as somebody people sellout? and demand for gasoline to the most part is seven multi yellow. >> what is happening is historically demand is moving down. we are seeing more and more

drive. part of that is the efficiencie or economies. but it does someone surprise me that demand continues to move down. the cost of fuel, frankly, is determined, as you know, but th cost of crude oil on a global market. the other demands around the world, the global supply and demand are moving up.3 so demand out and the middle east, china, india, and elsewhere continues to drive that overall demand up which holds up the cost. dagen: crude-oil production particularly in this country. crude production already at the highest levels since early 1992. charlie production in this country will surpass the import for the first time since the 1980's. this is a real source of hope for this country, is it not, in terms of jobs? >> absolutely.

overseeing is a gain changing opportunity that no one had predicted just five or six year ago. the united states became the world's number one natural gas producer. you remember back just five or six years ago, an importer of natural gas. now we're turning the tables on potentially becoming an exporte of natural gas. the international energy agency is predicting that if we don't produce are oil right here and how we can surpass saudi arabia as the world's number one oil producer in seven short years. this is a big deal. dagen: are you worried that washington would get in the way of that? is that the biggest risk? >> absolutely. in fact, it is the political risk that has always been the greatest risk in this country. like what is happening today. this administration has put 87% of our offer continental shelf

commitments, productioo and permits on federal land that th federal government controls and the western u.s. is down. where we're seeing increases is in private and state. so are governors are stepping u and sang the state of advantage of this opporunity. let's go around and produce our own energy, create hundreds of thousands of new jobs, generate revenue and make us energy secure as a nation. that is what we have to do. we have to reverse course and some of these old policies and realize we have vast abundance of energy right here at home. dagen: good to see you. have a great weekend. and i driving anywhere. coming up, we will get toowayne rogers. he is fired up about lois' learner. she is on paid leave. that among many scandals erupt in down in d.c. right now. and it jeff flock with a great

way to remember our veterans on this memorial day weekend. >> reporter: that will be a special day. just pricing secondary offering. among men. so special and knew to show you. what is that? we will tell you. something called a flight to. stay tuned. ♪ [ male announcer ] i've seen incredib things. otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far ay. ♪

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♪ dagen: she took the fit and then hit the bricks. lois lerner out on a paid vacation. honoring our veterans this memorial day weekend.

jeff flock on raising the spirit of our country's heroes. if you are a customer, you may lose some of your favorite programs. stocks now with nicole petallides. nicole: abercrombie. the type of clientele they are hoping for. now, it is really about just the numbers. take a look at these numbers. dow 11%. they did see a deeper than expected drop in quarterly sales. they have also seen weakness at hollister. one area that did have a glimmer of hope is online sales. that is a little bit better for them. abercrombie and fitch is much like the other team retailers.

they also have the issues the same as american eagle and aeropostale. they are not alone in this. dagen: thank you so much. we have the irs scandal. we have the government snooping scandal. the benghazi scandal. wayne rogers is not happy about any of this. he is a fox news contributor. start with the irs. what is your big beef here? >> the biggest beef is the legal one, of course. it is outrageous what they have done. i cannot think of any greater crime than that in the united states.

it is the most outrageous thing that could happen. dagen: do you think that heads really rolled? lois brett baier is sitting on the beach getting paid point. >> of course. you have eric holder who is condoning this kind of behavior everywhere around. he did not do anything about the voting act. the man should go home. dagen: involved in a search warrant, james rosen of fox news and his parents. you throw in the ap scandal and then got the. how long does it take for these to go away for the administration? >> it is behavior that reminds

you of nixon. he cannot withstand this. somehow his popularity among the people -- a lot of the people do not understand this. you go down and ask him about the irs investigation or ghazi, he oes not know what he is talking about in half the conversations. i do not know that the president will be able to withstand this. the press have got to step up and do their job. dagen: i do not think that every person fully understands the situation.

they can freeze your assets like that. i do not believe that this will go away. >> they do understand that irs scandal. the irs scandal is something that is touch everybody, i should not say everybody, more than 47% of the people in the united states do not pay federal income taxes. you are talking about those 53% that do. before how do you think this plays out in terms of policy over the next few years? >> well but maybe it is and maybe it is not. it could be overturned. these people with the irs who are snooping around in our

private lives and you put them in charge of obamacare, you have to be really worried. look, it is a 2200 page document. you know that. nobody read it before they passed it. nobody knows what it is. nobody knows what the cost will be picked congress may say, hey, enough. dagen: we do know one thing, train wreck. wayne, thank you so. good to see you. have a good weekend. one casual dining restaurant is wanting to honor veterans families this weekend and revamp your taste buds. jeff flock has the story. jeff: outback steakhouse is where i am this morning.

there is some big new innovation coming. this is a huge company. public company that just yesterday priced a secondary public offering. of course, we know outback for the blooming onion. it is not about blooming onion anymore. >> it certainly is an iconic product that we are happy with. this is our new stake. there is three cups of folate on a crispy potato with sauces of your choosing.

jeff::what has been the secret for you and what could have been a very tough year? >> we are proud of our results. a lot of great work by a lot of great people coming to their and making the difference. jeff: you like this flight thing. you have flights of desert. i have stacy over there making something. >> she is making one of our new baby milkshakes. we are really excited about them. it is a mini milkshakes. jeff: do you have one i conceive? a little milk jug like you used to have when you were young, dagen.

you will be honoring the iraq war veterans. i tell you, it will be particularly special. we will have it live on the air. maybe a special guest will stop by. you will want to tune in around 1:30 p.m. dagen: did you just implied that i am old and i had my vote delivered to my house in bottles? jeff: appeared that you are a country girl at heart. dagen: we loved each other. thank you for that. tune in during the 1:00 o'clock hour. make sure you tune into jeff's

special on monday. it is called the auto industry back in business. jeff talks to the ceo of every major auto manufacturer. it is a great story. time warner basically taking another content provider. we will also bring you up to date on the bizarre life and arrest last night of amanda bynes. pay enough to fuel up. more on the memorial day migration. people are paying to get from here to there. ♪

♪ >> i have your fox business. shares of proctor and gamble are jumping. they received a ratings boost after announcing some changes. p&g is bringing back former ceo. the tornadoes could cost as much as $5 billion. a bulk of the cost is tied to the deadly tornado that struck more, oklahoma. durable goods came in better than expected in april. orders for long-lasting and you factored goods climbed 3.3% from

march. that is the latest from the fox business network. giving you the power to prosper. ♪ [ shapiro ] at legalzoom, you can take care of virtually all your imptant legal matters in just minutes. protect youramily... and launch your dreams. at legalzoom.com we put the law on your side. we don't let frequent heartburn come between us and what we love. so if you're one of them people who gets heartburn and then treats day afr day... block the acid with prilosec otc and don't get heartburn in the first place! [ male announcer ] e pill eachmorning. 24 hours. zero heartbur

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another clash has roped in out between giant cable operator -- dennis kneale has more on this story. dennis: they are at it again. if time warner cable does not work this out within seven days, suddenly those channels go dark on cable systems. you are talking smaller, lesser market in green bay, buffalo, dayton. when complained they only get a fraction. they supposedly are asking for 50% price increase.

it was a contract that was signed just two years ago. you have to wonder if they will get it or not. in 2008, these two tangled over the same thing. it is always viewers who get the hit. both companies lose because no broadcast company can get to. it just shows you the shifting, you know, when you have a business in the middle of huge change, commies panic. right now they are running scared. they will be seeing more of these fights breaking out. dagen: you can always go to your ipad and watch a lot of this. dennis: if you go dark, you can get that channel through the

internet. the cable channels, ultimately, whirlwind no matter what. dagen: dennis is up in less than 15 minutes. joining up now is jason weissberg. do you sit on the sidelines and wait for clarity? >> i do not. i think their intention was to, you know, get money injected into the equity markets. a job well done. i think now, you know, we have had a great run up. it is healthy that the market has a nice retracement here. getting people to retrench. put some of that money to work in q3 and q4.

i think that the training wheels will be off of the economy. dagen: thank you very much, jason. millions of americans to hit the roads. the neurologist maria malina has the very latest from the fox weather center. >> hello everyone. >> do expect to see delays. not just today, but into tomorrow and possibly into sunday morning. temperatures with these storms are also very cool. you could actually see some snow with that storm system. 52 degrees. very cool for tomorrow's temperature in new york city.

taxes, a warm day. 88 degrees for your hike tomorrow. 70 degrees will be the highlight in l.a. dagen: maria, make you so much for that. amanda bynes arrested last night in midtown, manhattan. police say she chucked a marijuana bong out of her apartment window. felony bomb throwing is what it is being called. the actress was smoking marijuana and rolling a joint in the lobby. when police arrived, she tossed it out the window in front of them off the 34th floor apartment. other legal problems, a dui arrest, to name one, again with

the blonde wig. if you have been following her on twitter, you have seen the near naked photos she has been tweeted. she was taken to the psychiatric hospital, by the way, before she was taken to the police station. most of us are choosing to drive this holiday weekend even though gas prices are where they are a year ago, but rising in recent weeks. more ahead. ♪ thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond.

80 thousand of us investing billions... inverything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it.

♪ dagen: more than 31 americans will hit the road this holiday

weekend. gas prices are right about where they were a year ago, but they have $0.14 since last month. peter: it is the unofficial kickoff of the summer vacation weekend. it is starting out with some of the highest gas prices we have seen in the last year or two the average is $2.65 for a gallon of regulator. this is due in part to higher oil prices recently. mainly due to refineries that are having some problems. that is of thanks apply. while we have the same number of people hitting the road this holiday weekend, 31 million,

these higher gas passes are affecting some people's travels. >> the last thing people want to do is cancel their trip just because gas prices are high. peter: aaa surveyed travelers about high gas prices. two thirds of them say that high gas prices will not change their travel plans. families to plan for these trips and they do budget for them. 38% of those surveyed said that high gas prices would affect their travel plans. 8% said they would take shorter trips and 3% said they would not drive. they would figure out someway to get get where they want to go. dagen: peter cut it is great to

see you. it looks cold down there. peter: i am starting my memorial day weekend in the rain and the cold. i do have my bathing suit on under my pants. dagen: and your hair looks awesome, as always. peter: thank you. dagen: good to see you. the latest on the cyber threat. hackers now targeting energy providers in this country. cheryl and dennis are up ahead. ♪ all stations come over to mission a for a final go. this is r real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet.. dragon is captured.

is connecting today's leading companies to places beyond it. siemens. answers. e wright brothers became the first in flight. [ goodall ] i think the most amazing thing is how like us these chimpanzees are. [ lahing ] [ woman ] can you hear me? and you hear your voice? oh, it's exciting! [ man ] touchdown confirmed. we're safe on mars. [ cheers and applause ] ♪ hi. [ baby fussing ] ♪

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dennis: targeting our nations energy provider. lawmakers basically argue about it. cheryl: fueling up for the holiday weekend. dennis: aqua cat will be here. cheryl: top of the hour of course, stocks every 15 minutes. we have nicole cut back on the floor of the new york stock exchange. nicole: we have had four straight weeks of gains. this could be our third down day in a row. we have not seen that in a few months. we are seeing six names up

arrows, led by proctor and gamble. walmart, coca-cola and microsoft do have up arrows. a weaker dollar. it leads you to wonder, are we at the top? you start to see people noting the big turnaround that we saw on wednesday when we were off and then we swung to the downside. that kind of move, we have not seen in a while. it could be that kind of thing that could put in the top. we are looking at our third down day in a row. dennis: thank you. the irs saga continues.

lois lerner, she has been placed on paid leave after she refused to resign. taxpayers still putting the bill for her time off. we had nina easton here now. when a guy running something and really messes up, he normally goes quiet and resigns. i guess not in government? >> in her case, she is a very key figure. she is somebody to watch in all of this. how much does the white house know? how much does the treasury department know? lois lerner was the one who initially released this information that conservative groups were being targeted. it was released and a very strange way.

a question was planted at a private event. it was supposed for her. i think she is definitely for somebody to watch. there is questions about whether she could evoke this amendment because she did read an opening statement. i think all roads lead back to this woman. she really is the person to watch in all of this. dennis: now, nina, this well-crafted week, doing have any evidence that a game from the white house and do we care? do we think it makes a difference? >> to me, it smelled like a

political plan. officials who were looking for a political play here who were trying to get the information out in a political way, a controllable way. to me, it raises a lot of suspicions on my part. dennis: it seems beyond the canon of the irs. there is an issue here. what about whether anyone in the white house was involved? do we have anyone yet looking at whether this was delayed by design up front by the white house? >> of course, that is the big

question here. a question of whether there was actually any direction. this white house is so much put out. we now have conservative groups coming forward saying and demonstrating that their applications were put under intense scrutiny and the applications were delayed. a lot of them have not even been approved yet. there are a lot of questions here to be asked. lois lerner is a key player in this. i would love to know what she knows. dennis: wanted we all. thank you, nina. cheryl: if history repeats itself, we should be seeing some green arrows.

the today's -- the two days post- memorial day have been good for the past 17 years. you were on fox business back in september talking about global markets, ernie. we have had a heck of a run in u.s. markets. >> thank you, cheryl. thank you for having me back. certainly, some of the developed markets in europe have performed fairly well. it really has been a case of the u.s. equity markets doing extremely well.

cheryl: how to play this? are you kind of an index person? >> we do a little bit of both. we do select companies. the last time i was on, we talked about a company based in europe. they sell more than 50% of its goods into the emerging markets. really, the theme was the fact that we have painted with a very negative brush. we particularly manage asset funds. it has actually performed quite well. very strong fundamental research process. very well for us.

cheryl: you really are making that from play. is also a great moneymaker. you gained 14% over the last year. looking at a couple new pics that you like in emerging. you are playing that global population growth, as well. there is something else that is could of empowering the markets. that is a stimulus that we have been getting since they made that statement last year. that has market participants a little bit nervous. will they back off? are you worried about that moment? >> we are not worried at all. number one, on wednesday, german bernanke stated that the fed

wanted to be very careful about premature thai inning. number two, they have already stated that wanted to see the unemployment level at 6.5%. they be very careful about taking their hands off this, if you want to call it that. when they do begin this tapering process, which has been very well advertise, it will be a sign that they have confidence that employment is improving. cheryl: i do want to point out before you go, 1% over the last year for your newer pics. it is good to have you on the show again. >> thank you, cheryl.

have a great day and weekend. dennis: the "wall street journal" says watch out for iran. we have the latest details about what american companies can do to fight back. cheryl: let's go ahead and take a look at oil. we are down $0.36. gas prices just now popping up. it has not been a bad spring. ♪

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to grow our start your business, visit thenewny.com how old is the oldest person you've known? we gave people a sticker and had them sw us. we learned a lot of us have known someone who lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you ed to enjoy all of these years. ♪ ♪ cheryl: we did have another down day. potentially, the third down day for the dow. a couple stories for you now. procter and gamble, the former ceo, iraq.

walmart in the numbers to spot. it will be interesting, numbers coming out of walmart over the week. whether good affect consumer shopping. hewlett-packard and intel, a couple of technology names. speaking of the consumer, local, seers swinging this morning. nicole: take a look. bigger than expected quarterly loss. down about 14%. obviously, a big loss. what is interesting about the quarterly loss is the ceo clearly noting that it is unacceptable. our first quarter, 2013 performance is not acceptable. our assets should be generating a certificate profit beard he

himself seems a little baffled. kmart is under their umbrella. online doing a little bit better. a couple things that they did know for seers, they talked about the cold weather. for the kmart shoppers, payroll tax increase. it makes them feel a little less rich. you can see it is down about 14.5% at the moment. this is not the news that shareholders were hoping for. cheryl: so verbal to the stressed-out consumer. thank you, nicole. iran targeting major u.s. energy companies. rich edson is standing by in washington, d.c. with this story. rich: a lot going on here.

the journal reporting that u.s. officials are concerned that iranian hackers are ceiling information that they could later use to damage infrastructure. senator chuck schumer writes i have real concerns that if this deal is approved, it could make agencies far more susceptible to attacks. we must proceed with extreme caution before allowing something as vital as our communications and infrastructure to falling in the hands of foreign companies with ties to china. opponents say allowing companies to hackers opens for attacks.

they say the private sectors should focus on defense and the former cia director says the federal government has already warned it will go on offense. >> will respond to the attack based upon the affects of the attack, not the needs of the attack. that is a pretty sharp statement. if you cause us great physical harm and instruction, even though you used a cyber web to do that, we do not confine ourselves to cyber weapons in response. rich: they are investing in cyber security. back to you. cheryl: it is such an interesting and, frankly, scary topic when it comes to the nation's security.

and this, you have more on this. dennis: i sure do. >> cyber security is changing so fast that something that is six months old is often hopelessly integrated. >> some companies think they are too small or too unknown. they are kidding themselves. >> once i have done that, the question is, why hasn't it happened yet? >> it may be a power station that goes down. it will be enough to bring that fraud level public awareness and the demand for change in the federal government to do something about this. dennis: that is a daze of our armorial day special. our team sat down with some of the legal experts in the arena.

thank you for being with us today. you set a very significant cyber threat. it seems like government and industry are not taking the threat serious enough. do we need an attack like you are talking about to wake us all up? >> i hope not. the threat is imminent. the threat is real. iran is in fact targeting our oil and gas infrastructures. i think we are seeing a monumental change. dennis: it kind of speaks volumes to the chinese. they are going after trade secrets and stuff to build business. the iranians just want to go after grid structures.

right after the 9/11 attacks, we did a big cover story saying this is the next cyber war. >> we are still fighting a 20 century war with 20 century software. they are getting hit by attacks 10,000 times a day. dennis: the denial of service attacks. it dates back to 30 years with hackers. why are you guys unable to stop such an old technique? >> it is just taking advantage of fundamental design constraints of the internet protocol. there is not a good fix for

that. we are worried about the attacks against employees, web-based drive-bys. they get onto the network and a lamp to gain control of these networks and cause real potential damage. that is the problem we need to address. dennis: web based drive-bys. thank you very much. >> thank you, dennis. dennis: make sure to tune in for our one hour special on cyber security posted by connell mcshane. it airs monday at 1:00 p.m. and 4:00 p.m. eastern. cheryl: it will be great. of course, again, that will be this weekend on fox business.

how much will it cost you to fill up your test this weekend? answers coming up. dennis: how much this week's tornadoes will cost the insurance industry. but, let's take a look at how the world currencies are faring. ♪ thank you orville and wilbur... ...amelia. neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it.

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♪ >> at 25 minutes past the hour, i'm here with george box news minute. eighteen people had been injured , one critically following a collision between a hotel shuttle bus and a tractor-trailer. the bus was headed to atlanta's hartsfield -- hartsfield international airport. british police arrested two men aboard an airline plane on suspicion of endangerment seven aircraft for three british fighter jets were launched to divert the flight carrying 297 passengers toward manchester, they escorted the jet to a an airport east of london. the airline confirmed the actio was taken for security reasons. and state authorities say the interstate five bridge that collapsed into the river was caused by an oversized truck hitting a portion of the overhead span. the two vehicles went into the water, and three people were rescued. the bridge is located about one hour north of seattle south of

the canadian border. those a year headlines. i'm heather childress, now back to cheryl. cheryl: hello, just in time for the memorial day weekend a bridge collapses. good to see you. over 31 million americans expected to hit the road this holiday weekend. judge nearly $0.14 since last month. peter is checking gas prices. i imagine some serious recommendations. >> the unofficial start of the summer holiday season. the moral the weekend. the highest gas prices for our moral they hate states it's about $4 per gallon. the aaa says this is due in par to higher oil prices. recently also because of

problems and maintenance at refineries. take a listen. refineries' spring often conducts these amendments in order to maintain a continue operations throughout the year. we have seen some of the larges refineries in the country and midwest that shut down for maintenance. we also had a few other reductions have problems. >> they did survey travelers. two-thirds are not appointed changed their plans. higher gas prices would affect this travel plans. there would economize in other areas. a percent said they would take shorter trips and 3 percent sai they would just not drive. they would find some alternative , plane or train. cheryl: yeah, right.

it d.c. traffic, driving does not sound good at all over the holiday weekend. it's worse than new york real war. >> i think that the traffic -- know that washington is in the top-10 worst traffic cities in america. it's going to be nuts. you know, we have the beaches i maryland and delaware and so everyone is setting an attempt. cheryl: you will try and cut yo loose early. have a good one. live out of the sea. dennis: hightails out of new york. on television, albeit on the 5 :00 show anchoring. the price range of damages for storms that hit this week, including the tornado and more. we have the latest. cheryl: and there is an application for that. the ceo of a company who is looking to revolutionize the masai's industry. we have -- yes, that kind of massage. first, take a look at the base s&p winners and losers.

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cheryl: the financial impact of that terrible storms in the midwest, the latest estimates for you. of paid vacation, and you are footing the bill. the investigation all day. and time warner under attack by another content provider. if you are a customer you may lose some of your favorite shows . and it is 30 past the hour. stocks of one of my favorite people, nicole petallides following retailers. >> reporter: taking a look and the shoppers. retailers.

facing intense competition from so many choices, but a lot of the retailer's have really show some weakness. right there in line with the rest of them. down arrows. right now the stock is down jus under 10%. at the moment they have a bigge than expected loss. we also heard from abercrombie and fitch of the last 24 hours, and they showed some weakness. the first quarter earnings fell. it is interesting. i was reading about abercrombie. they talked about the intense competition that they face with a gem and how they quickly get the merchandise in and out. some of these other retailers have inventory build a. the other thing we heard, overall retailers' talked about a cooler season. should not allow people to come in and do their shopping couple with the payroll tax increases which made people feel like there were a little less well-off. dennis: thank you very much. the insured damages from this week's tornado and severe storm

could reach $5 billion. the disaster modeling firm out with estimates. the vice president joins me now. thank you for being with us. tell us. you have one line and the notes on reading that i did not quite understand. this storm, if it goes up to $5 billion there is only 5 percent probability of that limit being exceeded, and that threshold has been exceeded twice in the last three years which makes this even more rare. can you explain that? >> well, tornadoes occur sort o like a random problem. of 1500 tornadoes per year. some years are more active, som less. they don't always hit urban areas. the condition for a larger shar of losses that we have a large tornado. it 2011. we saw very large event.

pushed past that threshold. this event, we are looking at insured losses from the weather system, it could hit $5 billion. yes, there are rare. it is exceptional to have to row . we are looking for something to this. should we get some insight? we will happen tomorrow? and while this is rare, there are no really good, strong insights to make this thing tha we are going to see a heightene or more events. dennis: we have been hearing reports that we can expect more storms this year. you have a second factor. even if you are a pound for pound same exact thing, the storm will be causing more actual financial damage. why is that? >> absolutely. bir nasser homes. it's like throwing darts at a

dartboard. we expand and urbanize more areas. but ec farm land. the tornadoes touching down. now it goes through the subdivision. just based on demographics, we expect a higher frequency of losses. higher severity. cars and apartments that we hav are more expensive. dennis: de pick up one anchor? t let the entire area? is it easier to assess damage when entire building is blown away and destroyed instead of only partly dimmest? >> well, i'll answer that backwards. it is easier to estimate larger damage. we look at hurricane sandy or superstar sandy from last fall where there was a lot of damage. it is much easier.

the population, the demographics , the population is involved, since disinformation and square footage of buildings. dennis: good luck with that. thank you very much for being with us today. >> thank you. cheryl: think about this. if the red arrows in today's market savvy stressed out, you don't want to miss our next guest. the ceo will tell us how his company is making getting a massage easier than ever. there is ahead on your screen obviously. dennis: phil flynn is in the hands -- pitts of the cme said tell you how much the memorial day barbecue could cost you. i'm looking at a realistic look at the 10-year treasurys. ♪ [ man ] on december 17, 1903,

the wright brothers became the first inlight. [ goodall ] i think the most amazing thing is how like us these chimpanzees are. [ laughing ] [ woma] can you hear me? and you hear your voice? oh, it's exciting! [ man ] touchdown confirmed. we're safe on mars. [ cheers and applause ] ♪ hi. [ baby fusng ] ♪

♪ [ male announcer ] every car we build must make adrenaline pump and pulses quicken. ♪ to help you not just to stay alive... but el alive. the c-class is no exception. it's a mercedes-benz, through and through. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. ♪ >> i'm here with your fox business brief. the patent battle is heating up. filing two new complaints. infringing on nine of its patents. already filing complaints. they are putting smart phone

makers at odds. and eight nap billion dollar order with airbus. the subsidiary, 18320 customer jets. when it comes to sunscreen, cheaper can be better according to consumer reports. brands from target and walmart fare the best overall. skin cancer is the most common type. and that's the latest from the fox business network covering giving you the power prosper. i want to make things more secure.

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in 2007. you believe that they go together. >> absolutely. i don't have to tell you and your audience we are in the midst of a mobile revolution. the smart phone with this gps capabilities can now serve as a remote control for your life. and so it is a remote-control that will summon a massage therapist might to your doorstep . it is a set price and it works because we learned through booking massage is the old-fashioned way, the scheduling and advance and dealing with all the cancellations and rescheduling, it just doesn't work. people want a massage when they're back actually hurts, which is right now. cheryl: you wants to new york city, and you are launching. >> today we officially announce a launch in the hamptons. so we start taking orders in th hamptons today. cheryl: i'm sure no one in the hamptons will want a massage an

less than an hour. you're going on to android as well. where do you see this going? based upon your history, the fact that you really are a venture-capital list. you work in a lot of small companies. that is your resonate. do you think that spending is often selling get? >> we want to repeal the real business. it's a huge category, and an overbooked category. to order and 20 million massage last year. in that top 30, over 900 millio assizes. the market could be bigger. we think a lot of people want a massage on demand but can i get it. we learned 60 percent of the time consumers want a massage within four hours. this allows you to do that, so we think we're getting people who would not get a massage otherwise and are ordering more often. cheryl: and we should say that space and availability, all of

massage the purpose sunscreen and check and survive a safety issue is there going into people's homes. >> we have created a whole trus factor on both sides. thorough background checks, liability insurance. the customers also screened. this might sound controversial first. we have a partnership with experience. we take your legal name with th last four years social and verify your identity of for you can use the app we don't store the last four digits of the social. cheryl: it's a cash only credit card. there is no health insurance. the best way to cure. thank you very much. >> they did for having me. dennis: and other cable clash. time warner cable and a prize fight.

they also listen seven days. we local stations go dark. they let them stay off the air for 28 days. demanding a 50% price increase over its contract from just two years ago. fox nbc affiliate's and others, more of these fights will break out between creators and distributors like cable and satellite. never mind if both sides lose and viewers lose most of all. and television that officially ended yesterday. the ball coming in number one among adults under age 50, a group of advertisers pay to reach. bin cis, a crime drama in its tenth season coming of number one in told viewers of all ages, up 10 1 year. the big bang theory moving up into number two among adults under 50. american idol replaced.

that show tumbling down 25%. viewers. cheryl: that's a really good show. wall street is already in flight . big money players setting out for the memorial day weekend. here is the exit is to the hamptons, the favorite relaxation destination for wall street money types. the flights going out there, an we have our first an account from hampton native on twitter describing the activity earlier this week. he had this comment. air force 1 percent seems to be landing a couple of days early. who's minding the markets? time to tap the lawns. less talk about hampton's. dennis: so much for sale in may and go away. cheryl: airforce 1%. that's a good one. dennis: the credit. i'd like to steal it. cheryl: the law still anything from jason weisberg, one of the few minding the markets today.

how are you, donna and seaports securities, looking a pandora. is one of those stocks. they beat the street. it really has. it is down today. >> the company is a great company. i use the product myself, but that being said that think this is a classic case of buy the rumor and sell the news. people bought the stock and it had a nice run-up. it had a nice run this year. people expect great things. okay. we're on to the next, and that is exactly what you're seeing. cheryl: in intimaae is one of those performances, jason, than you very much. happy holidays. >> you, to. dennis: this weekend marks the unofficial kickoff to the summe growing season. the annual poll, 29 percent of consumers say they're putting state on followed by burgers. let's said to the trading pits

of the cme and phil flynn to se how your memorial staples of trading. >> trading lower, but i tell yo what, over the past couple of days this has been a very challenging year for the cattle ranchers. there is good news. corn prices have fallen down. 50% more cattle lower prices. a big discrepancy which in the cash price, we have been paying in the futures market. cheryl: from the queen of television to queen of the farm. the latest bend's venture comin

up an hour west coast minutes. cheryl: -- dennis: memorial weekend, this summer will be no vacation. mr. gilligan some of the day's winners on the nasdaq. thank yo orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're hisry. instead of looking behin.. delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it.

how old is the oldest person you've kno? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thi. but even though wee living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪

♪ cheryl: time for your westcoast minute. several california refiners are not committing to a new pipelin proposal introduced by skynyrd morgan, home of freedom pipelin that would pump crude directly

to los angeles, but refining names seemed to want to stick with rocard transport for oil. that oil mostly come from north dakota, canada, and texas. combined look at how the stocks all -- the bottom market. oprah winfrey is getting into the farming business in hawaii with advisement from a longtime trainer, developing a 60-acre estate and a 16-acre spot is producing fruit, vegetables, herbs. organic farming is generating 145 pounds of food. no word of -- no word on what she will do with it. as we head into memorial day weekend, southern california, some tough breaks, an annual report found that santa monica beach and wage beach in newport beach, ratings of at least and a . redondo, malibu, and catalina

got s based on water quality. that is our west coast minute. dennis: memorial day kicking of summer travel. we will be no holiday. new report from the center for economic and policy research says 23 percent of american workers have no paid vacation days. twenty-one companies studied in reportedly was shot dead, canada , japan, 16 countries in 3 europe, the u.s. is the only advanced economy that does not require employers to provide paid vacation. too many rules. cheryl: i should have been born in france. thirteen weeks a year vacation. thirteen weeks. i'd take it. dennis: enforced by law. cheryl: yes. part of it is law. dennis: if your employers are giving you paid vacation, quick and find a better employer.

just a thought. cheryl: markets were down 27. our stocks, first trust economists. he will tell lori and ashley exactly why. dennis: and back now to tell yo bachmann dennis had hackers are targeting our nation's energy providers. iran in the cyber threat coming up. ♪

♪ cheryl: t gif. happy friday bark memorial day weekend. ashley: stocks firmly up. weekly winnings now in jeopardy. tracy: pact. why not hacked back. the new call for america to fight fire with fires. they launch an all-out assault on u.s. energy firms. ashley: invoke the fifth and then take five. the latest on the scandal the

controversiallactions on the to official, lerner. time for stocks, drifting lower. we checked these articles every 50 minutes. that set down to the floor of the new york stock exchange wit gary l. nicole petallides. on averages. >> reporter: a month of gains, and now we're seeing a weekly loss. this to be our third game in a row to the downside. we have been in positive territory. today again now it is looking lower at the moment down a quarter of 1% 15,259. robo of 15,200. procter and gamble, the clear winner. that will help stay near the en changed line. adding 24,000 positive dow points as they bring back someone to run the company.