program. we will be watching. it is time for "varney & company." we are wondering if this is the beginning of something bigger. stuart, we will be watching your show. stuart: thank you, maria. good morning, everyone. political earthquake. eric cantor loses. stock prices fall. rand paul connects. there is a shock. reports of cooperation on corporate tax rates. over to europe. demonstrations across the continent against american company. attacking the app called uber. it is a satellite company connecting the glow. "varney and company" is about to begin. ♪ ♪

stuart: the script says the market is losing a little steam. it is losing some steam, all right. down 100 points as we get this day going. the s&p down seven points as we speak. maybe there is a connection to eric cantor's loss last night. we will be discussing that one. as for the price of gold, 1262 this morning. this calendar year is up 5%. that is the 10 year treasury yield. a little change. not to google. they bought a satellite imaging company for half a billion dollars. no impact on the stock. over the long-term, google keeps going up. watch out, yelp. watch out, angie's list. amazon is up six points at 338.

apple and starbucks. they are getting flush tax breaks. the european union wants to know what is going on. apple is up. starbucks is down. fractionally. house majority leader erik cantor p 1055-44. it was the republican primary in virginia. a big turnout. 18,000 more republicans voted. special report tells us that threadbare was shocked. he is here with us now. the democrats, they seem to be happy this morning. they think the tea party backed the victory and that is a plus for them. >> good morning. it is a shock.

this is the first house majority leader in the history of the republic to lose in a primary. you are right, democrats are sending out signals. an analysis of this a day later, have a day later, i do not think the democrats should be that excited. who is excited? they see this as a wake-up call. a wake-up call not only to the establishment, they feel they have not been to issuance. dave bratt ran pratt ran on a host of things, stuart. immigration reform and pushing back against eric cantor was a big part. stuart: do you think that that fall is dead? >> barring some suicide pact with speaker boehner and outgoing house speaker eric

cantor, trying to push something through without large republican support as they are leaving office. boehner would have to do so to. barring that possibility, it is for the most part back on the back burner. stuart: i picked up this comment. mr. cantor should have spent less time in downloads and more time in virginia. less time worrying about leadership aspirations and more time worrying about the average guy in virginia. >> it is not just the issue of immigration reform. fed up with washington. fed up with both parties not being able to get things done. fed up with traditional republican creed, as he called

it. he did not think eric cantor was upholding. there were also issues of trust.

stuart: his premise is republicans win this year and 2016. the stock market goes straight up. republicans may have had a setback this morning. do you accept the premise of a

politicized market? right now, amazon is up. linkedin is up. yelp is up. big companies that benefit from corporate welfare. those are the companies that benefit. i will go out at the export, import bank. these are the kinds of things that they keep talking about. the blue chips are a little bit shaky here. i agree wholeheartedly with laugher. i think companies will spend a lot more money on infrastructure. more acquisitions. i think the u.s. economy will jump big-time. if the gop recaptures. stuart: fascinating stuff. what a day.

charles picked sprint seven. i do not know when he picked it, but he did pick it. ulta is a winner. >> no joke about a winner there. 15%. they have seen great prophets. from the profits that they are seeing here, we should also note up 12 and a half percent. 97.89. stuart: he has his own show now, you know. nicole: really? i did not know that. [laughter] stuart: it is a great show, charles. 6:00 p.m. eastern time. taxi and limo drivers all over western europe are protesting buber today. this is a view of london and paris.

they do not like the americans bringing in their freewheeling uber app. this is pushback. demonstrating a pushback against the disruptors. [laughter] this is a disruptive technology. something that is taking the lunch away. this is a very strong union. very strong organizations. this is making them very upset. stuart: you are a personal finance editor at the "wall street journal." >> they are using the internet to bring prices down, bring competition in and allowing us to make money out of our assets. >> that is exactly right. it drops prices. especially in a place like

europe. you can see why people want to use a place like europe. first of all, they need lower prices in a lot of instances for them. you have this card. you can start making a profit. stuart: this just came in. it is from uber. what has gone up? sign sign-ups. sign-ups have gone up 850%. week to week. 850%. >> no press is bad press. [laughter] >> raising awareness across the board. charles: you may be a little sympathetic to the london cab drivers. the most expensive test to

become qualified. stuart: i will answer that question later. i am out of time. rand paul and harry reid teaming up. yes. you heard that correctly. they are discussing a one-time tax holiday that will allow companies to bring overseas companies back home. the revenue would fund highway repairs. is this possible? is this possible? >> it sounds like an interesting proposition. our infrastructure is falling apart. stuart: really talking about a tax rate that. getting the money back here. just a one-time tax holiday. >> it is a big deal. to see that cooperation, that

would be good news for some of our businesses here. charles: it was huge when george bush did it. we had an infusion of cash. stuart: it went into stocks. charles: yeah. yeah. some of it will get into stocks. it is the big story of the day. this is unprecedented. a lot to do with immigration reform. more on that with arizona candidate christine jones. first, here is brad take on the great communicator ronald reagan >> i have a picture of ronald reagan on my webpage. he had it right. ♪

my dad has aor afib.brillation, he has the most common kind... ...it's not caused by a heart valve problem. dad, it says your afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... ...was proven superior to warfarin at reducing the risk of stroke. and unlike warfarin, with no regular blood tests or dietary restrictions. hey thanks for calling my doctor. sure. pradaxa is not for people with artificial heart valves. don't stop taking pradaxa without talking to your doctor. stopping increases your risk of stroke. ask your doctor if you need to stop pradaxa before surgery or a medical or dental procedure. pradaxa can cause serious, sometimes fatal, bleeding. don't take pradaxa if you have abnormal bleeding or have had a heart valve replaced. seek immediate medical care for unexpected signs of bleeding, like unusual bruising. pradaxa may increase your bleeding risk if you're 75 or older,

have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blood thinners... ...or if you have kidney problems, especially if you take certain medicines. tell your doctors about all medicines you take. pradaxa side effects include indigestion, stomach pain, upset, or burning. if you or someone you love has afib not caused by a heart valve problem... ...ask your doctor about reducing the risk of stroke with pradaxa. can you start tomorrow? yes sir. alright. let's share the news tomorrow. today we failrly busy. tomorrow we're booked solid. we close on the house tomorrow. i want one of these opened up. because tomorow we go live... it's a day full of promise. and often, that day arrives by train. big day today? even bigger one tomorrow. when csx trains move forward, so does the rest of the economy. csx. how tomorrow moves. are the largest targets in the world, for every hacker, crook and nuisance in the world. but systems policed by hp's cyber security team

are constantly monitored for threats. outside and in. that's why hp reports and helps neutralize more intrusions than anyone... in the world. if hp security solutions can help keep the world's largest organizations safe, they can keep yours safe, too. make it matter. p2 up 42%. there is a game for you.

eric cantor's loss just about squashes any chance of immigration reform this year. joining me now is christine jones. welcome to the program. very good to have you with us. a very timely appearance, i may add. i think immigration and eric cantor's stance on it hurt him. i think it helped beat him last night. what is your stance? >> well, i do not think any of these conversations are worth having unless we get the border secure. as you can imagine, we have not established many candidates. i have this conservative message that is starting to ripple and gain momentum. the single most important issue everybody all over the state of

arizona wants to talk about is clearly organization. it is time for us to get really serious. what will we do to secure our southern border? >> until just the last few days, we saw reports of literally thousands of youngsters crossing the border. perhaps to get ahead of immigration reform. and then eric holder getting them lawyers. i put it to you. that is a big plus. >> you can imagine how this laid out in arizona. busloads of unaccompanied minors are being sent to arizona and dumped. they have no clothing, no food, no water. groups have come out to rally and support these people.

honestly, this is a critical issue. until they get serious about fixing it, i think non-established candidates, like myself, had the ability to come in and clean it up. i have traveled about 30,000 miles all over it the state. how will we have the federal government dumping out people? this is a humanitarian crisis in addition. stuart: can i just ask you about the hispanic vote within arizona? are they overwhelmingly a one side or another? >> the hispanic community that i have interacted with, particularly in south phoenix, they are very paasionate about reforming immigration. the legal illegal immigration is something they are very passionate about. i have found illegal immigration

is a troubling notion for them. i really think this is about values. this is about a conservative message tuesday we care about economic development. we care about the things that are critical to the future and the ongoing growth of our state. we want a strong governor. one who understands the constitution. stuart: hold on. i want to break in for a second. i want you to listen to this tweet. 20 million americans that cannot find a full-time job. eric cantor want to give corporations and other 20 million foreign workers to hire instead. a very powerful message from david rented. you at though that now.

>> absolutely. if we are going to take care of the people that are in the country, particularly the ones that are here are legally, what does that say about us? does that say we will aid nor the constitutional requirements of citizenship? these are based on principles in which the country was founded. i am willing to stand up for you. i have done it in the past. i am willing to do it in the future. he did what i am doing. instead of focusing on raising money, he went out and raised votes. he said, let me tell you about my vision for the future. i think aconite will be a member of the future. stuart: thank you for joining us, kristi. we appreciate you being here. >> thank you, stuart.

stuart: eric cantor raised five and a half billion dollars. 230,000. after the break, we show you a campaign ad. ♪ [ male announcer ] identity theft ... it's one of the fastest growing crimes in america. in fact, there's a new victim of identity theft

every...three...seconds. so you have to ask yourself, am i next? one weak password could be all it takes. or trusting someone you shouldn't. over 100 million consumers had their personal information stolen in recent retail store and online security breaches. you think simply checking last month's credit score can stop identity thieves now? that alone just isn't enough. but lifelock offers the most comprehensive identity theft protection available. as soon as the patented lifelock identity alert system detects a threat, you'll be notified by text, phone or email. ♪ your response helps stop thieves before they do damage to your identity... helping to keep you safe... with three powerful layers of protection. detecting threats to your finances, credit, and good name 24/7. alerting you to potential danger. and if anything is found, your resolution expert will help restore your identity. so you can get back to enjoying your life. ♪ lifelock watches out for you

in ways banks and credit card companies alone just can't. plus, it's backed by a $1 million service guarantee. if your identity is ever compromised, lifelock will spend up to $1 million on experts to help restore it. try lifelock membership risk free for 60 days with promo code easy. that's 2 months of proactive protection to help keep your identity safe, risk free. act now and get this multi-device charger. charge all your devices at once to save you time... a $30 value, free! call the number on your screen or go to lifelock.com/easy. try the most comprehensive identity theft protection available risk free for 60 days plus get a $30 multi-device charger, free. enrollment takes just minutes. your protection starts immediately. call the number on your screen or go to lifelock.com/easy. ♪

you start by extending online net neutrality protection to more americans. you make the network faster, more secure and more reliable. you make low-cost internet access available to more low-income families at home. life online can be better for a lot more people. that's what we're committed to do. together. comcast and time warner cable. together is better for more people.

♪ stuart: we say it all the time. streaming is king. here is a number to back it up. cisco says streaming video will account for 80% of all internet traffic by 2018. 84%. look at netflix. not that much today. next case. the highest minimum wage in the nation as a state, not a city, as a state. agreeing to move it up to $10.50 an hour by 2018. charles: seems more like a political gimmick than anything else. everyone agrees. it hurts job creation.

you eliminate jobs. you have a household where two or three people maybe working. teenagers on minimum wage. household income is 70 grand. increasing one teenagers wages does not make up for in other person losing the job completely stuart: it is not a minimum wage. you are trying to legislate a living wage. charles: we have manufacturers out there saying we have the jobs. the nfib, 47% said they had trouble finding someone mollified. these are small businesses. stuart: recent data from city research show that parents around the world will be worse off financially than they were. parents in france, the most pessimistic.

90% of adults they are there say their children will face greater hardships than they did. 74% of people in britain say their kids will be worse off. here at home, 62% of parents say their kids will face more hardships. charles, that speaks volumes for me. charles: that is a high number for america. almost irrelevant. i am shocked at the uk. they have a sizzling economy right now. i think in two years i'm not a that number will come down dramatically. stuart: i think you and i agree that the american dream is not dead, but it is being talked down. charles: unfortunately, talked down to our kids. everyone they follow, everyone a look up to, hey, someone is stealing your dream.

stuart: you cannot succeed because you cannot get off the ground floor. david pratt ousted eric cantor last night. here is one of the ads 2 5110 days. that is how long eric cantor has been representing us in washington, d.c. fourteen years. he is working behind the scenes to push to amnesty. he has become another power-hungry washington insider. fourteen years in washington is too many. stuart: get this. congressman eric cantor out raged. 5.7 million-231,000. money does not guarantee the 20. charles: all of this money coming in. it will not be funny.

i hope republicans are listening to this. it is still about the message. if you can articulate the message like that, people will listen. stuart: senator, harry reid will have you listen that the coke brothers are able buy elections. stuart: that is positively un-american. a judge striking down teacher tenure in california. saying the practice is unconstitutional. judge andrew napolitano is here and he will explain that ruling after this. ♪

predicting the future is a pretty difficult thing to do. but, manufacturing in the united states means advanced technology. we learned that technology allows us to be craft oriented. no one's losing their job. there's no beer robot that has suddenly chased them out. the technology is actually creating new jobs. siemens designed and built the right tools and resources

to get the job done.

[ girl ] my dad, he makes underwater fans that are powered by the moon. ♪ he can print amazing things, right from his computer. [ whirring ] [ train whistle blows ] he makes trains that are friends with trees. [ train whistle blows ] my dad works at ge.

♪ stuart: defense secretary chuck hagel testifying before the house armed service committee on the prisoner swap that freed sergeant bergdahl. he said there was complete inanity in that decision. he and the president would not have moved forward unless they had complete confidence they were i can lawfully.

on the next hour in this program colonel ralph peters will join us be at peace as president obama has "quit america." china's amazon known as alibaba opens an e-commerce site. yahoo owns a piece of alibaba. yahoo is up. another name, boeing down 2.5% on the downgrade. charles, try to make us some money. sandisk coming to tell me what they do. charles: they make the flash disks, everything a consumer device you have to store the data, their flash memory disks. the probably is a sandisk product. stuart: storing my photos from last night.

charles: the stock is on fire. even though it looks the way it does, the peg ratio, really we e the tech names still screams this is a buy. to take a market share continued to take market share, you don't have to pick which phone will do the best, just go for the nuts and bolts of the stuff. the stock so has a lot of room for the upside. stuart: a california judge says teacher tenure violates a student's right to an education. just like that. all right, judge andrew napolitano is here. first of all, judge, why does it have anything to do with the legal system about whether or not a teacher has tenure or not. isn't that a policy decision for educators to make? >> the laws of the state of california say if a teacher does a, b, c, d, e, the teacher should be entitled to tenure. those laws were challenged before the judge by a group of

parents suing on behalf of their children who said the effect of the law is to violate a clause of the california constitution, which requires a thorough and efficient education for the students because the teachers are doing things not to teach but to get tenure. stuart: so you could sue on virtually any grounds if you think your children are not getting a full and proper education. >> as long as are in a state that the state constitution guarantees thorough and efficient. new jersey has this. it has been the subject of many, many cases and thousands of pages of judicial decisions. so the argument is the statue written by the legislature is not enhancing the throne as an efficiency of the education, it is diminishing it because the teachers instead of teaching are doing things just to get tenure. now that is what the judge ruled. will the ruling stand? oh, my goodness.

the legislature california is probably the only legislature in the country tha is more left-win the legislature of new jersey. i would imagine they would do just about anything under pressure from the unions to tinker with the statute to try to invalidate the decision or at least appeal it all awa the wayo the california supreme court every left-leaning supreme court. but the judge has succeeded in exposing the raw underbelly the of public education, and that will prompt a debate about it. will it have a material change? i don't know. will this spread to other states? i can't predict. stuart: a job for life on a base of 18 months in the classroom which is utterly ridiculous. >> if you want my opinion, the problem is it is run by the government. stuart: i'm with you, judge. >> of it was private it would pop up on every corner.

if you want to learn the london school of economics, you would go to that school. stuart: i know you are bursting to talk about david bratt. go. >>the benefits of our viewers, e beat incumbent, majority leader eric cantor. >> this would be unremarkable if he was not the number two person a house of representatives, the second most powerful individual in the house, eric cantor. but this is symbolic and substantive of the migration toward the democrats of republican establishment leadership. this is the conservative small government base saying enough is enough, you voted for all of the bailout, all of the borrowing, all of the increase in debt and

you are supposedly the leader of the republicans in the house? we are kicking you out, that is what happened. stuart: eric counter will not mount a write-in campaign to retrieve his feet. >> the primary is timed such as he would have to serve notice for the write-in campaign before the vote was templated yesterday. i am hearing this morning from my libertarian friends, republican friends who are members of the house of representatives that a serious effort to be mounted to house one of their own replace eric cantor. this will be the most serious challenge to establishment republican leadership since the republicans took control of the house. i am just salivating at this prospect we might have republicans who stand for small government principles. stuart: so long as they win, judge. >> this is a guaranteed republican district.

the last time i had a small government guy running for office and everybody followed suit, his name was ronald reagan. and his best friend was margaret thatcher. stuart: now you're talking. [laughter] thanks, judge. >> pleasure. stuart: radioshack on deathwatch? one analyst even saying the stock should be worthless, $0 value. however there are still people out there who love the store. one of those people is joining us. went by the stock, but he loves the store. he joins us next. i ys say be thman with the plan

but with less ergy, moodiness, i had to do something. i saw mdoctor. a blood test showed it was low testosterone, not age. we talked about axiron the onlynderarm low t treaent that can restore t vels to normal in about two weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especlly those who are or who may become pregnant, and children should avoidt where axirons applied as unexpected signs of puberty in children or changes in body hair or incased acne in women may occur. report these symptoms to your doctor. tell your doctorbout all medical conditions and medications. serious side effects could include increased sk of prostate cancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling,

enlarged or painful breasts, problems breathing while sleeping and blood clots in the legs. common side effects include skin redness or irritation where applied, increased red blood cell count, common side effects include skin redness headache, diarrhea, vomiting, and increase in psa. ask your doctor about axiron. >> dunkin' donuts making a return to california. announce it will open five traditional shops in the states before the end of the year. dunkin' donuts is under a different management suffering poor salesman at left back in 2002. now 10 years later dunkin' donuts signs deals for 200 new shops and expect

eventually open as many as 1000 locations throughout the state. just over 2500 starbucks locations throughout the state. more than any other in the u.s. and speaking of starbucks, the european union has open formal investigations into the tax affairs of both apple and starbucks. it will focus on generous tax arrangements for the companies and at least three countries, ireland, luxembourg and the netherlands. google, the everything company, what are they getting into now? we will tell you next. wondering what that is?

that, my friends, is everything. and with the quicksilver card from capital one, you earn unlimited 1.5% cash back on everything you purchase. not just "everything at the hardware store." not "everything, until you hit your cash back limit." quicksilver can earn you unlimited 1.5% cash back on everything you could possibly imagine. say it with me -- everything. one more time, everything! and with that in mind... what's in your wallet?

stuart: we call google the everything company. what do they do now? nicole: we are looking at a recent acquisition from skybox. satellite imaging. why do they want skybox? this is so they can get real-time high-resolution information for their maps the most accurate maps you can imagine. that is to have imagery up to date. in addition to everything else that we have discussed, talked about drones, the balloons from high altitudes to get this. yesterday we talked about working with autism to compile that data. medical management and don't forget they bought the solar powered drone manufacturer they

beat out from facebook in april. google is not just your search engine to check out something. google is a little bit of everything. stuart: they are into everything, that is the thing. check the share price of radioshack, please. having a rough go of it, not making money. they have an image problem, the stores look data dated, even the stores look old. a commercial van during super bowl. by all accounts the stores are pretty good, very good customer service, quality products, reasonable prices so what is going on with this operation? marketwatch columnist with more on this. would you buy the stock? >> i would certainly not buy the stock because this company could disappear at least as a publicly traded company within a year.

stuart: so the problem is what? >> the problem is they are running out of cash, they have had a 40% decline in same-store sales over the past year. they wanted to close 1200 stores but their creditors of only allowed them to close 200 stores per year over the next three years. that is interesting because it shows the creditors see value in the stores, i don't want it to shrink to quickly but others indicate they could run out of cash within a year, the community company goes bankrupt and is completely lost to its shareholders. stuart: but it is a popular company. i know a lot of people who shop there. they are very helpful. and the prices are reasonable and you know what you're getting. i think you agree with that. you like the store chain yourself, right? >> yes.

the big question was who shops every year at radioshack. a very large number of respondents said they had shop there in the past couple of months. i had several excellent experiences there this year be at stuart: so what is the problem? i know they're running out of money in same-store sales are down but if you have a pretty good image and people like what they get when they go there, surely there is hope, isn't there? >> there is hope. the comp is looking to change 40% of the product, but the long-term service on cell phone no longer works because buying a cell phone can be a, located deal. you will probably go straight to your carrier for that. the company doesn't seem to be emphasizing what we all know and love radioshack four. which was the availability of all sorts of unusual equipment and even toys for children. children love electrical kit and toys.

they don't emphasize those. stuart: shirley they are victims of internet, online shopping. it is terribly easy if you know what you want, it is very easy to go get it online and have amazon deliver it. is this a bricks and mortar company that is a victim of online selling? >> in my personal experience people at radioshack have offered products to me that i have not considered and they had been loved by the gift recipients. stuart: they are running out of money, the creditors will not let them shut down, they think there is some value in there so they are probably not going away so we probably should not have put them on deathwatch. something like that? >> the stock is on deathwatch, stuart. stuart: but i have to tell you, the history is when we put something on deathwatch, the thing rebounds and doubles

within a couple of months. we will see what happens. >> hopefully we will both be wrong. stuart: thank you for joining us, we appreciate it. thank you. there is a generational shift changing. a change in values for millennials. could be a very bad thing for the housing market. we will explain after this with the dow down 100. means keeping seven billion ctransactions flowing.g, and when weather hits, it's data mayhem. but airlines running hp end-to-end solutions are always calm during a storm. so if your business deals with the unexpected, hp big data and cloud solutions

make sure you always know what's coming - and are ready for it. make it matter. i'm d-a-v-e and i have copd. i'm k-a-t-e and i have copd, but i don't want my breathing problems to get in the way my volunteering. that's why i asked my doctor about b-r-e-o. once-daily breo ellipta helps increase airflow from the lungs for a full 24 hours. and breo helps reduce symptom flare-ups that last several days and require oral steroids, antibiotics, or hospital stay. breo is not for asthma. breo contains a type of medicine that increases risk of death in people with asthma. it is not known if this risk is increased in copd. breo won't replace rescue inhalers for sudden copd symptoms and should not be used more than once a day. breo may increase your risk of pneumonia, thrush, osteoporosis, and some eye problems. tell your doctor if you have a heart condition or high blood pressure before taking breo. ask your doctor about b-r-e-o for copd.

first prescription free at mybreo.com what happened? life happened. stress. fun. bad habits. kids. kids. kids. now what? not milk. not sheep. not that. let's think smarter. let's get some science in here. let's build a bed. another bed? no, a smarter bed a entirely new sleep number bed that tracks your movement, your heartbeat, your breathing - sensors working directly with the dual air chambers - yeah you need the air chambers. introducing the sleep number bed now with sleepiq technology. it tracks your sleep patterns and tells you how to adjust for... a good night's sleep, a better night, and an awesome night. so what sleep number adjustments make the difference? try cranking it up? adjust it down? a little bubbly? or nix the late night flicks? wait, you'll know what works, cuz sleepiq™ technology tells you. and all you have to do is sleep. which is easy.

only at a sleep number store, mattresses with sleepiq start at just $999.98 because everyone deserves a great night's sleep. know better sleep with sleep number.

stuart: millennials falling victim to president obama's america. unemployment rate for people 1 18-29 a whopping 15.5%. fewer young people able to start families, start their first home, household formation is falling. here is jason meister with amazon young. he is a millennial, just look folook athim. you have some news for us, don't you? tell me. >> stuart, one in three millennials a living at home. 40% of existing home sales market is typically first time home buyers. millennials are first-time home buyers. you can't extract that large of a portion of the existing home

sales and have a healthy, robust housing recovery. so it is really impact in the recovery. stuart: household formation should be very strong, but it's not because of the state of the economy. >> millennials are not getting married, not having children, they are rely on public transportation. it is really an impact on the overall economy. not just the housing market. stuart: here is the news, there was a bill in the senate from elizabeth warren and she wanted to allow students to refinance their student loans, bring the interest rate down, bring the monthly payments down. you told me that bill failed in the senate? >> correct. they block the bill, and i'm happy they did so. a direct parallel with the housing bubble that burst in '08 and what i call the tuition bubble. college education isn't worth what it was before. the job market when they graduate is very competitive and

they're not making the money that you would get out of that education. if you put that money in the stock market and work through college, you would be in a better off place. stuart: if you're not allowed to refinance or student loans or get the monthly payment down, that's not good news for housing. this bill would have helped the housing market. i understand it doesn't solve the basic problem but it would have helped housing, wouldn't it? >> they need to be focused on health and jobs. this is a jobs killer. what we need as millennials when we graduate is jobs. people pay for homes with jobs. so relief of loans and cheap loans being subsidized by the department of education like fannie mae and freddie mac is a direct parallel. stuart: i did not know this refinance bill was financed by millionaires.

charles: student loans versus millionaires, who are you going to backup. >> those are job creators. stuart: you are welcome on this program and you are dead right. i will shake your hand. and look, son. defense secretary chuck hagel says the process to free bergdahl was legal. and the world cup, the world's biggest sporting event. team usa, what do you think the odds are? 200:1. a little extreme, don't you think? another hour of "varney & company" in two minutes. nice day, beautiful tomorrow. tomorrow is full of promise. we can come back tomorrrow. and we promise to keep it that way. driven to preserve the environment, csx moves a ton of freight nearly 450 miles on one gallon of fuel.

what a day. can't wait til tomorrow.

stuart: we are not as hell. we will not take it anymore. we heard that last night when that established eric cantor lost. last night everyone got a big

dose. going through your money. ♪ stuart: headlines, the market pulls back. eric cantor loses. some see a connection. the prisons watch undermined the president standing here if colonel ralph peters says the president is quitting the country. a cardinal close to the pope says this economy kills. eric cantor has a golden connection. team usa 200-one. i may be tempted to gamble. look at the big board. wednesday lunchtime. still nearer the session lows. down about 84 points.

the s&p losing some steam as we speak. the 10 year treasury now yielding. not much change. we have a downgrade for boeing. google buys a satellite imaging company. they really are into everything these days. they are teaming up with autism speaks. the chinese twitter unlikely to be profitable this year. that is not hurting the stock right now. now this. chuck hagel testified before the house on services committee. listen to what he said. >> complete unanimity. the president and i would not have moved forward if we did not

have the best interest of our country in mind. stuart: that was secretary hagel's response. five gitmo terrorist for sergeant bergdahl. it seems to me that all of the attention is focused on sergeant herb doll. what about the five terrorist? are they a big part of the deal? >> that is absolutely correct. the testimony had more holes in it than all the cheese in switzerland. what he saw was hillary clinton benghazi testimony. holding the white house. no matter what. stuart: i have to jump in for a second. you just said that secretary

hagel was lying. >> he said there was no real threat to these five major terrorist. they had no involvement. that was absolute nonsense. tugging on the strings. those promotions were undeserved. there was a cover-up from the start. this white house has not given so much attention to the families of any of our severely wounded warriors. beyond that, bergdahl was a metal of honor hero. the trade is still crazy.

even if they never leave, they decide they like the beach and stay there forever. they decide that they are superheroes. they are a great recruiting tool. there are so many other lies. stuart: i have some developing news here. we know that both sewall has fallen to islamist insurgents. what is your reaction to this? >> thank you, president obama. great job, dude. had he done so, the entire region would look very different

today. if they can hold on, stuart, that is the biggest victory for arabs since the 12th century in the fall of crusader through salon. they are establishing a state that goes from central syria to iraq. it is a g hottie terrorism space that is emerging while we do nothing. because of obama, we are not able to do anything.stuart: thah us on a very important day. i want to get back to eric cantor's primary lost. big money from wall street. specifically, goldman sachs.

charlie gasparino has the story. >> his wife used to be a lobbyist. like cantor, i do not want to be spouting guilt by association, but there is a theme here. very close to the establishment of wall street people voted for this. gop candidates like that are easy pickings. i guarantee that that is what happened. he exploited that plus other things. if you were seen in the gop, president obama, right now, you are toxic. that is what this shows. i am not pro- wall street. i am not tea party.

these guys have to raise money. the biggest campaign commercial for hillary clinton. wall street is out of the game. they will have a possible time raising enough money. >> the goldman sachs wall street connection. >> he has a lot of connections. >> this guy is seen. i know a eric cantor. a toxic connection for democrats. if a democrat takes a ton of money, that is a bad connection. when you have the media on your side, it is hard to beat that. in terms of raising money, this is the best thing.

this takes money out of any potential gop candidate. stuart: thank you very much. to nicole. nicole: not enough. what we are seeing here is that big of america in the department of justice are now trying to negotiate what they could of america should pay for the mortgage investment. they said they would pay over $12 million. the financials are lower across the board today. bank of america leads. stuart: what would be enough. thank you very much, indeed, nicole. google. this really is the everything company. we talked about the purchase of

a satellite imaging company. that comes on the heels of google emerging. the cofounder is with us here in new york today. what exactly is google doing with autism speaks? >> it has legislation and children to families and autistic families for a long time. this is a major player in congress that is very interested in children and children health. stuart: he specifically helps autistic. >> a large bill that deals with children of all types. he has been out there.

stuart: to think that bill will die because of his loss last night? >> no. i hope not. this is a man that has done an awful lot. being very supportive of families and children's. stuart: autism speaks. you kind of spell this out. >> it is all about big data. a story about big data. the natural sciences are hampered in further work because of data limitations. it is way beyond what natural sciences have been using to process their own data. they can choose data that cannot be really handled today anymore by the way we deal with the academic institutions.

google has offered to turn its incredible data and storage to work with autism in handling 10,000 genomes. think of them as freight cars of data. there is just no way. you can only put one genome on a pc. stuart: they will take the genomic structure of a person with autism. >> yes. stuart: and then compare that. >> first of all, it will be sequenced by another company. they will be receiving all of this data. they will put it in a cloud storage area. they are going to match the first 6 billion pieces against

the second, against the third, against the fourth. going all the way down. they are the only ones in the world today that can actually do this. the fact that they have said we will demonstrate our ability in this scientific research area right now and we will work with autism to do this. stuart: directly go with others. >> yes. >> autism, one of 68. it is incredible. in new jersey, it is one in 45. so many people dealing with cancer. it is a smaller game. this is a tough one. there are incredible resources against this.

stuart: i have a very big number for you. it is from cisco. you may want to comment on this. 84% of all internet traffic by the end of 2018. it is a huge number. >> dare i say that that is the demise of television. >> one genome is like 100 hollywood pictures. that is another issue here. it is very data rich. it fills up the pipeline. that is why people should be paying for it. you pay for telephone. you pay for everything. everything you buy, you pay for quantity.

bob wright, thank you very much. i have some breaking news for you. she will testify a week from today. that will be june 18. the world cup, did you know this, starts tomorrow. the world's biggest sporting event. i know i told you earlier. are you kidding me? i am ready to make a bet. next. ♪ (mother vo) when i was pregnant

...i got lots of advice, but i needed information i could trust. unitedhealthcare's innovative, simple program helps moms stay on track with their doctors to get the right care and guidance. (anncr vo) that's health in numbers. unitedhealthcare.

♪ stuart: the world cup kicks off tomorrow. it will be a bonanza for social media. >> we will see record viewership. 4 million people tuning in. it kicks off tomorrow.

brazil versus croatia. 4:00 p.m. we do not watch soccer or football. that is afternoon, early evening. that is time time. this is expected to generate so much money. $4 billion in revenue. stuart: you were telling me if i have an espn app, on my desktop or cell phone, i can watch any game, it any time, all of them, all the way through. >> for the first time ever. some on abc, someone espn. stuart: the worldwide audience is 4 billion years that is worldwide. >> for viewership. yes. the previous record was the 2008

olympics in beijing did it will be big. espn paid $100 million for the tv rights in the u.s. stuart: thank you very much, lauren. bringing in roy scott. i want to get out. we have a full-screen. i see that you have made rozelle a favorite at three-one. >> three-one. that is right. he won it back in 2002. he has not been shy about talking up their chances. i think it will be a massive failure for him, the team and

the country. they beat three in the final. that has quenched their thirst. the millions of fans and the lands of dollars spent on it. stuart: my colleagues here in america have a bone to pick with you. they are far too long. >> 200-one does seem a little bit long. you do have a world-class talent. you have howard at the back. a big stock that they left out, it is a really tough group. can we see them getting past

portugal? knocking out penalties in 2010. it is a long price. it will be very tough to get out of that group of debt. stuart: u.s. open. odds on golfers tend to be longer because they are unpredictable. i think you have rory at 11 to one. >> yes. a bit of a finger in the edge. rory mcelroy. they will be glass. normally, with a u.s. open, you expect very thin fairways. they actually do not have rough. they have these gnarly tree trunks.

stuart: i have one very small bone to pick with you. the odds are far too long for a man who is partially sponsored the fox business network. explain yourself. >> lots of good value. the one i like, phil mickelson, i think that is his sixth second of the u.s. open throughout his career. coming into form. it would be nice to quench this. a final missing pager. stuart: i will finish it with this. you, young man, will make a ton of money.

we will see you very soon. thanks a lot. my take on last night's political earthquake. that is next. the dow down 88. ♪ ♪ my dad has aor afib.brillation, he has the most common kind... ...it's not caused by a heart valve problem. dad, it says your afib puts you at 5 times greater risk of a stroke. that's why i take my warfarin every day. but it looks like maybe we should ask your doctor about pradaxa. in a clinical trial, pradaxa® (dabigatran etexilate mesylate)... ...was proven superior to warfarin at reducing the risk of stroke.

and unlike warfarin, with no regul or dietary restrictions. risk of stroke. hey thanks for calling my doctor. sure. pradaxa is not for people with artificial heart valves. don't stop taking pradaxa without talking to your doctor. stopping increases your risk of stroke. ask your doctor if you need to stop pradaxa before surgery or a medical or dental procedure. pradaxa can cause serious, sometimes fatal, bleeding. don't take pradaxa if you have abnormal bleeding or have had a heart valve replaced. seek immediate medical care for unexpected signs of bleeding, like unusual bruising. pradaxa may increase your bleeding risk if you're 75 or older, have a bleeding condition or stomach ulcer, take aspirin, nsaids, or blood thinners... ...or if you have kidney problems, especially if you take certain medicines. tell your doctors about all medicines you take. pradaxa side effects include indigestion, stomach pain, upset, or burning. if you or someone you love has afib not caused by a heart valve problem... ...ask your doctor about reducing the risk of stroke with pradaxa. stick with innovation. stick with power. stick with technology.

get the flexcare platinum from philips sonicare and save now. philips sonicare are the largest targets in the world, for every hacker, crook and nuisance in the world. but systems policed by hp's cyber security team are constantly monitored for threats. outside and in. that's why hp reports and helps neutralize more intrusions than anyone... in the world. if hp security solutions can help keep the world's largest organizations safe, they can keep yours safe, too. make it matter. the numbers are impressive. over 400,000 new private sector jobs... making new york state number two in the nation in new private sector job creation... with 10 regional development strategies to fit your business needs. and now it's even better because they've introduced startup new york... with the state creating dozens of tax-free zones where businesses pay no taxes for ten years.

become the next business to discover the new new york. [ male announcer ] see if your business qualifies. that's why i always choose the fastest intern.r slow. become the next business to discover the new new york. the fastest printer. the fastest lunch. turkey club. the fastest pencil sharpener. the fastest elevator. the fastest speed dial. the fastest office plant. so why wouldn't i choose the fastest wifi?

i would. switch to comcast business internet and get the fastest wifi included. comcast business. built for business. ♪ stuart: immigration is a fault line in america. a political unknown beat eric cantor. the border and those crossing it are a key issue. i am not taking a position on immigration reform one way or another. i believe i have advantages that other immigrants do not have. i speak the language. i came with a first rate education. i take no position on the immigration question did immigration was a central issue in virginia's primary.

his opponent labeled it amnesty. one week ago, on june the sixth, he became the headlines. eric holder gave those people lawyers. incredibly. cantor lost 55-44. his attempt to make an immigration deal really hurt him. his opponent suggested that mr. cantor -- big business versus small business. the corporation versus up and comers. here is another fault line. is there a difference between today and that of previous

generations? a safety net today. immigrants use it. there was no safety net in your father's day. overall, i get there is an impression of anxiety in america. we have not yet come together and agreed on a way out. the fault line is clear. we are divided. last night's political earthquake would clash things out. ♪ i ys say be thman with the plan

but with less ergy, moodiness, i had to do something. i saw mdoctor. a blood test showed it was low testosterone, not age. we talked about axiron the onlynderarm low t treaent that can restore t vels to normal in about two weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especlly those who are or who may become pregnant, and children should avoidt where axirons applied unexpected signs of puberty in children or changes in body hair or incased acne in women may occur. report these symptoms to your doctor. tell your doctorbout all medical conditions and medications. serious side effects could include increased sk of prostate cancer, worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlarged or painful breasts, problems breathing while sleeping and blood clots in the legs. common side effects include skin redness

or irritation where applied, increased red blood cell count, common side effects include skin redness headache, diarrhea, vomiting, and increase in psa. ask your doctor about axiron.

stuart: oh, yes we do. we give go through a lot of free advertising on this program. it will put the company's total value at $3 billion. we deserve a piece of that. websites like angie's list and yelp a run for their money. lauren, you are still with us. >> yes. all of the stock associated with this potential of un- tapping via the marketplace. amazon is getting into that

territory. they want to link up someone that can fix your sink. you do not have to -- stuart: amazon is a global company that could zero in on my neighborhood. >> they say that there is a lot of money to be made here. >> you do get an upgrade today. stuart: they have this competition from amazon coming down the pipe. >> they are doing this with the one click purchase model. one click on your amazon smart phone. you can make a purchase just like that. stuart: i am glad you are here to help me keep up. serious stuff now. eric cantor beaten.

he was the republican primary in virginia. 18,000 more republicans voted. that is a big turnout. cantor lost. benson is here. this morning, the democrats appear to be lethal. they believe that this gives an opening to them. >> this is a republican 10 district. they do not have a serious candidate of their own. you never know. >> the democrats think, look, if the democratic party is tainted by the teeth party, the democrats will look much better. are you buying back? >> not really.

a couple of big wins in crucial senate races. i think 2014 will be more or less give or take a republican year on a national stage. you can never quite predict politics. no matter how confident you may seem. i know words like stunning and shocking our overuse. what happened last night was generally astonishing viewed for the first time since 1899 a sitting house majority leader was defeated in he outspent his opponent 25-one. no one had even heard of his opponent. up by 34 points. those are obviously way off. my gosh, people were incredulous last night.

stuart: it must have been a very low turnout. that is not the case. 18,000 more people voted in that republican primary yesterday banned in 2012. hold on a second. an open primary. the democrats could have voted, if they wish. they could have done that. that means maybe some democrats win in there, voted for the tea party knowing it would upset them. is that possible? >> that theory has been floated. some of them were trying to push some of the folks against the race and to vote against eric cantor in the republican primary. they were republican conservative precincts. this one was a conservative of people. there was probably some rust

over. the operation chaos that we saw. there is probably a piece of that. this was not a close race. this was a 10-point victory. stuart: anybody who follows politics, even now, 12, 13, 14 hours after we got the results, still shaking their heads. it was absolutely astonishing. amazing. >> i am still shocked by this. people who follow this stuff. go through the numbers. there was some amusement at first. then there was intrigued. it quickly melted into shock and out right disbelief.

i think if you look at congressman cantor last night, he put on a brave face. he had on that smile. you cannot help but imagine that he and his entire team were shellshocked. they were out of touch with that district. stuart: we are god smacked. a british expression. thank you very much, indeed. what is the market angle? we have that next. ♪ can you start tomorrow?

yes sir. alright. let's share the news tomorrow. today we failrly busy. tomorrow we're booked solid. we close on the house tomorrow. i want one of these opened up. because tomorow we go live... it's a day full of promise. and often, that day arrives by train. big day today? even bigger one tomorrow. when csx trains move forward, so does the rest of the economy. csx. how tomorrow moves.

♪ >> we have another stock to report this morning. pf chang's are investigating an alleged theft of customers credit card data. they are taking matters very seriously. taxi drivers on strike. causing traffic jams. protesting over.

the general manager says sign-up is one thing. it's under 50% from last it is a massive 370-inch television screen made by the company. it sold for a whopping $1.6 million. the real halftime report is next. stick around. ♪ but then you grow up and there's no going back. but it's okay, it's just a new kind of adventure. and really, who wants to look backwards when you can look forward?

[ girl ] my dad, he makes underwater fans that are powered by the moon. ♪ he can print amazing things, right from his computer. [ whirring ] [ train whistle blows ] he makes trains that are friends with trees. [ train whistle blows ] my dad works at ge. ♪ ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade.

stuart: stocks this morning. is there a connection between eric cantor's loss and the market dropped today? let me tell you something right now, what worries me about this is that there are two important messages that may come out of the republican party. that is a movement to the far right and social issues. a movement to the far right as far as immigration. there are people out there willing to do more work for less money. bringing them to the united states. as simple as that. increasing productivity and

population. this nonsense about massively performing this, they are just wrong. we will have hillary clinton as the next president of the united states. you have my word. a cruel summer for stocks. go. >> i think that the market is priced for perfection here. i think the s&p could try. i do not think it will be much you got. the market has a 70% rise. a 50% rise in earnings. the multiple expansion rally. i think we are close. i think july and august, we will start to see this thing crumble. i think it could come pretty

ugly. >> okay. stuart: what are you seeing, nicole? a lot of the traders have been talking about off. >> you are seeing selling across the board. somehow the momentum players are doing well. netflix, twitter, tesla, pandora amazon, that one i understand. overall, pretty interesting day of selling. everything is down across the board for the most part.

i think this new acquisition is really in. it takes us in a different direction altogether. this was probably the best one that they could buy. it is about the cloud. it is about the other information processing of the data. it will make this a terrific acquisition. stuart: senators rande paul and penny read together discussing a tax holiday. you think this may happen? >> i do not know if that gets quite enough support for it to happen. i certainly do not mind it. let's not paint this picture of the evil corporation. you had a public company. you had a fiduciary

responsibility. f that means holding assets overseas, that is exactly what they should do. simple as that. stuart: we thank you one and all. thank you, everyone. we will see you tomorrow. one up (top advisers. talking about the free market. "this economy kills." a trickle-down economy is an exception. we talk about that next. ♪ (mother vo) when i was pregnant... i got more advice than i knew what to do with. what i needed was information i could trust on how to take care of me and my baby. luckily, unitedhealthcare has a simple program that helps moms stay on track with their doctors and get the right care and guidance-before

and after the baby is born. simple is good right now. (anncr vo) innovations that work for you. that's health in numbers. unitedhealthcare. so i can reach ally bank 24/7 but there are24/7branches? i'm sorry- i'm just really reluctant to try new things. really? what's wrong with trying new things? you feel that in your muscles? yeah...i do... drink water. it's a long story. well, not having branches lets us give you great rates and service. i'd like that. experience a new way to bank where no branches = great rates. ally bank. your money needs an ally.

what happened? life happened. stress. fun. bad habits. kids. kids. kids. now what? not milk. not sheep. not that. let's think smarter. let's get some science in here. let's build a bed. another bed? no, a smarter bed a entirely new sleep number bed that tracks your movement, your heartbeat, your breathing - sensors working directly with the dual air chambers - yeah you need the air chambers. introducing the sleep number bed now with sleepiq technology. it tracks your sleep patterns and tells you how to adjust for... a good night's sleep, a better night, and an awesome night. so what sleep number adjustments make the difference? try cranking it up?

adjust it down? a little bubbly? or nix the late night flicks? wait, you'll know what works, cuz sleepiq™ technology tells you. and all you have to do is sleep. which is easy. only at a sleep number store, mattresses with sleepiq start at just $999.98 because everyone deserves a great night's sleep. know better sleep with sleep number.

lou: the white house calls it a humanitarian crisis. opening borders and spending deportation for minors. find out what her role though rivera called it tonight at a you are here please join us. stuart: we have reiki news. the "wall street journal" reporting that the fbi has a criminal from the fda scandal. that is a criminal

investigation. strong words from an advisor to both princes. saying that this income is is a direct economy. he criticizes the free market as a new idol that increases inequality and excludes the poor. i get the impression that they are surrounding him. taking a left approach to capitalism. are they? >> i know that there are people around the pope. i think it is a real misunderstanding of how markets function. both the holy father and rodriguez are from america. what they see in latin america is justly condemned. the economy does kill.

stuart: it just seems like it is a very political approach from spiritual people. >> yes. i agree. we should be holding up on moral ideals. to say we want to include more people in the economy. i think that expand markets. to assault the market without an understanding of the market, i read the entire speech. it is notorious in not divining specifically what he is talking about. you and i could look over the economy. that would not be an indictment of the free economy and such. stuart: another issue. millennial's in the united states. getting married. they are living in sin. not getting married. not having children.

is that a real cultural shift? a very spiritual shift going on. >> i think that there are two things going on. the economic a rhodes the spiritualist as well. people no longer see hope for their future. you see this happening in europe at multiples. the institution of marriage itself is not regarded. i live with a priest from italy. he is so amazed that he has to prepare young people to get married here in the united states. in italy, a would be in their 40s. you go to italy with her he or four kids and they will stop you on the street and wonder. stuart: i was in rome for or five years ago. there are no children. you do not see it. do you think that america will reverse?

>> i think it can reverse quickly if we do not get to the demographic winter. speak to any comment on david france victory over eric cantor? >> i do not know if it would qualify as a mere goal from god. i do not think dodd does politics. he looks like a very good candidate. i am hopeful. stuart: you will not endorse him. can we hear it? do we have the soundbite? >> 18.7. what is possible with man -- >> i know this. what is possible with man is possible with god. stuart: quoting the bible.

>> giving honor to god and his life. the comment about the miracle. this is a man of faith. a man that understands the economy. it will be very interesting and a real challenge. stuart: i am just observing. >> i am not a member of the party. stuart: that was a revelation, sarah. [laughter] stuart: thank you very much. we have more varney coming up next. yes, we do. ♪

are the largest targets in the world, for every hacker, crook and nuisance in the world. but systems policed by hp's cyber security team are constantly monitored for threats. outside and in. that's why hp reports and helps neutralize more intrusions than anyone... in the world. if hp security solutions can help keep

the world's largest organizations safe, they can keep yours safe, too. make it matter. >> we know that has fallen, got that, to islamist insurgents. we hear tikrit has also fallen. what ask your reaction to this? >> thank you, president obama. great job, dude. >> well, very strong words, you

heard him right there. colonel ralph peters on iraq and president obama. that was earlier today on this program. my time's up. deirdre, it's yours? dierdre: thank you very much, stuart. active alibaba. the chinese e-commerce giant is buying remaining stake in mobile browser uc web. also launching a new shopping website, taking on ebay and amazon. speaking of amazon, if you need a plumber, a a babysitter, jeff bezos wants you to find a service in his everything store. the world cup kicking off tomorrow. our big bet on brazil. we're focusing on security and travel. nearly four million fans are moving around that country stadium to stadium. you may not have heard of 11 main yet but it is alibaba's u.s. shopping website. it is live. jo ling kent is with me now with more. so, jo, what does day one of 11 main mean for amazon and ebay? >> they're certainly watching very closely.