a big deal -- david: oh, look at the man with the tie, there he is pushing the button. that's anthony scaramucci with a big smile on his face. liz: ten-year anniversary, and when they started, they had 100 million in assets, today 30 billion. congratulations, say knew chi and the sky judge bridge team. david: we're going to talk to them about good and bad days coming up. "after the bell" starts right now. will ez liz green on the screen, if you are in stocks on this sixth year anniversary of the bull market, you continue to make money. welcome, everybody. let's break down today's action. we have kim picking two unloved technology technology names that she absolutely loves. she'll tell us why now is the time to buy them. yeah, she's nodding. john burke from burke financial strategies says look for regions where rates are declining.

where is that? oh, he'll tell you. and alan nutman in the pits of the cme. alan, quite the bull run again today. to what do you attribute that? >> i think it's just getsing a bounce. we saw unwinding on friday, but it wasn't heavy volume, and you could see the action in the vixx on friday wasn't real significant, so it didn't feel like it was a hard selloff. it felt like some profit taking. for me, i'm looking at half waw levels. the halfway level on the upside of the selloff is 2,085 in the spx, if we can get back above that, we could see a full recovery. and looking down below, 2050 is the halfway point of the rally that we saw in february those highs. so those are numbers to keep an eye on to see is the market half full of half empty? david: it came on a day when traders seemed to like just about every stock except for alibaba a. as liz has said, you have got a

couple of names in the tech sector. >> sandisk is unloved for a couple of reasons. the first is it looks like they've lost some contracts with apple, but we're not terribly concerned about that. we're happy to look past that. the company is also moving into its own corporate server or corporate storage item, and that hooks interesting. -- looks interesting. but we just love the stock. we've known it for a while, we think they're excellent operators. the next one, it's a weird one, xlnx, and we like them because they are in a very high-margin chip manufacturing sector. there's only one other company that is a close competitor, so they kind of know how to share this space. and they are used in telephone equipment mostly for mobile devices. so whenever a new tower goes up,

that's, you know, who puts the equipment into those equipment closets. liz: yeah. which apple actually would really like and need, wouldn't they? and that -- >> yes, it would. liz: let me bring in john burke because you, too, like a it can stock, except it isn't apple or any of kim's picks, it's lenovo which is giving apple a run for its money when it comes to what's going on in china, right? >> that's right. hi, liz. hi, david. we think we're going to see more days like friday where interest rates do matter, so we're trying to find places to invest where interest rates are going down, not up, and one of those regions is china. lenovo trades on the hong kong exchange. obviously, it's a consumer consideration their or is it a tech stock? yes, we think it's both. we like the free cash flow i yield which is almost 7%, and we like the fact that we're also getting a hong kong stock that has no taxation for u.s. investors. david: all right. alan, let me come back to you

and look back at the whole market because it appears that buying on the dips has been profitable for a couple of years now. is today another example of that? >> well, it looks like it. i have to look at things on a weekly basis. we had the selloff on friday, where are we going to be by week's end? that's really what's important. we've seen a bit of a bounce, bit of recovery. but you can't fight the history, you know? past performance is not indicative of future results, but i'm not going to be the guy who's going to say the market's not going to come bang from this. -- back from this. the market's tell us there's about a 20% chance this summer or 50-60% chance in the fall. that's not going to bring the markets to its knees. of companies are still earning, having great earnings, but we don't have any new information on earnings really, there's not much out there until april again. liz: which brings me back the kim. forget april. in one week the fed meets again, and this time will be the first

time this year in this short, young year that we will hear from janet yellen. she will give a news conference. what are you looking for here? and if they jettison the word "patients," is that sort of the precursor to -- patience, is that sort of the precursor to hiking rates in june? >> i think it is. there's been a lot of people that can speak for the fed out there talking about sooner rather than later -- david: hey, i hate to be rude, but i've got the tell our investors about qualcomm has just announced, if we can put up the share value after hours, they have announced a $15 billion share buyback. this is hugely affecting stocks in a very positive way, a $15 billion share buyback is a huge buyback, and after hours as we can see, indeed, their stock is going up by just about a dollar, little more than a dollar right now. and, again, that's one to watch for tomorrow. i'll ask you to comment on this, kim, if you don't mind changing

gears in mid sentence. >> sure. david: do you look for that in stocks when there is a big, significant share buyback by a company? would you buy into it? >> no, but i'd be a willing holder of that stock. that says that that company's committed to returning capital to share holders. i'm more interested in what their growth pattern is when i'm looking at a tech stock. liz: john, how interested are now in dividends? qualcomm's raising to 48 cents from 42 cents. is that something that matters to you when purchasing a stock? >> sure, liz. dividends matter a lot. qualcomm has one of the highest free cash flow yields in the tech sector, 8-9% range so, sure, that's a stock we like. david: john, i want to stick with you on interest rates, they have come up in the past month. i'm looking at the ten-year rate, it was down about 1.165,

its yield about a month ago, it's come up to about 2.2 now. it was down a little bit today, the yield. but are people beginning to reallocate as a result of interest rates ticking back up slowly? >> well, we've had almost 60 basis points increase over the past month. that's not enough yet to have clients and investors reallocate towards bonds. but it's, you know, it's moving that way, and we think if we see rates go up by another half percent to 1% from here, then for sure investors are going to be shifting to bonds. liz: alan, looking at the long bond which is no longer the benchmark, that's the 30-year, does that yield tell you anything? we were just talking with andy brenner who said it's ridiculous to see these yields and still put money in when there are a lot of other countries that the yields are so much better?

do you see any movement on the floor at the cme or that ther on the floor -- chatter that says why are we wasting our time with u.s. treasuries, you know, paying them to actually hold our money? >> i'm nostalgic. i cut my teeth in the bond room -- [laughter] and i'm very familiar with this. the 30-year used to be the market. now, obviously, over the last 10 or 15 years, that changed to the ten-year, but treasuries are just out of vogue now. the way the economics are set up, the yields on dividends from stocks can outpace what you can get in treasuries. obviously, you have the stock risk, but there are different ways to hedge it. so until the game changes, you know, until rates move up significantly back to that 4 or 5% range, no, i don't think treasuries are going to get attention. i use them personally to gauge investor fear. i don't follow the vixx very closely as much as i follow the money flows in and out of treasuries because that reflects flight to quality and safety. that was there a long time ago, so for me, that's an indicator.

david: alan nutman, thank you very much. kim and john, we thank you all. liz: thank you. as the bull market celebrates or questions its sixth year, people are wondering. skybridge capital, one of the most respected firms on wall street, is celebrating its tenth birthday. david: unlike many on wall street, it held steady during the financial crisis, and a lot of it has to do with this guy, anthony scaramucci, founder, co-managing partner, and we're happy to say a fox business contributor and the man who pushed the button today. anthony, thank you very much for joining us. congrats on closing the knew see. when you -- knew city. when you went through the darkest of times in the summer and fall of 2008, did you ever panic just a little as we saw that disaster? >> i love the fact that you said hold steady, david, because it was far from that. my hands were shaking a few times, and this day, march 9th,

in 2009 -- david: yeah. >> i have to tell you, i thought we were unraveling a little bit. as any leader knows, you have to try to keep it together. but i walked out of the office thinking, wow, the dow's at 6500, and i said to myself 1996 was a good year for me, maybe this'll be a good year. when i walked out, though, it was a very uncertain thing, and so a lot of good things happened to us over that period of time which we're very grateful for. but, david, liz, every good entrepreneur knows a lot of their success is providential, and thank god things work our way. liz: again, let's remind people, they don't know, you actually left a big firm. you had worked at goldman sachs to start your own. that in and of itself is gutsy, to leave the safety of those hallowed hallways. speak to our viewers who often think about something like that. what was the number one characteristic you had to have to make this be a success? >> well, i left goldman in '96,

liz, i started a business that ahad sold to. when -- i had sold. when i left to start skybridge, i had left lehman brothers. and i've got to tell you, my daughter said, dad, are you crazy? lehman is a real company, skybridge is a powerpoint presentation, why would you leave? i said, you know, your dad's a dreamer, i want to see if i can get this started and turn it into something. i had an enormous amount of respect for dick fuld and lehman, and who would have taught ten years from now that lehman would be bankrupt and skybridge would be where it is today. a lot of this stuff, liz, happens to you when you're planning something else. in march of 2009 it was a touch and go scenario. i had the good fortune of being able to purchase a business from citibank. my partner, ray nolte, joined the firm in june of 2010, and so the last five years have been

spectacular. but i would tell viewers if you're starting a business, you have to hang in there. never give up on your dream no matter how dark it gets. david: great advice. >> you have to stay in there, be adaptable and live in with integrity because, ultimately, your reputation is what's going to get you through things. david: anthony, the comeback of this market has just been gangbusters. nobody saw it growing as spectacularly as it has. the overall index has grown great, but the economy has been improving in less great increments. it has been improving, but in a much slow or fashion than the market has. are we about to enter a period where wall street and main street are more closely adjusting with each other? >> it's possible, david, but i don't think we're quite there yet. we still have the tale of two economies. very, very strong corporate economy driven by the replacement strategy for the federal reserve. the jobs numbers were better last week. i parsed through that data. it does look better, but the wages aren't where they need to

be for us to say that these things are fully integrated. so there's an arbitrage right now in our economy. it's great for corporations, great for people that have assets. we have to figure out a way to reform things so that we can help the lower and middle class who still need our help. liz: anthony scaramucci, i see your team over your right shoulder and your wife, deirdre. thank you so much -- >> thank you so much. i love fox business, liz. you guys are terrific. our best days are ahead of us. liz: amen. >> the next ten years are going to be way better than the current ones. david: i love your hope. thank you very much, anthony say knew chi, great to see you. meanwhile, buyer beware, netflix has lobbyist remorse as they got way more than they bargained for in terms of these new rules and regulations that the administration wants to hoist on the internet. so what is going to happen? is it too late to turn things around at the fcc? liz: plus, in a big victory for consumers, the credit-reporting

giants have agreed to an overhaul that could help millions of you. what changes will be made? how will it impact your credit score? you need to hear. david: and you want to know exactly how bad things are in europe? people are actually paying the government to hold their money. that's right, negative interest rates. will that have investors running to the u.s., or will the pains over there cause pains over here? it's a fact. kind of like mute buttons equal danger. ...that sound good? not being on this phone call sounds good. it's not muted. was that you jason? it was geoffrey! it was jason. it could've been brenda. "what is it that we can do that is impactful?" what the cloud enables is computing to empower cancer researchers. it used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day.

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liberty mutual insurance. liz: we have an update on the breaking news we brought you in the last hour, a hazardous and highly-producing chem -- polluting can chemical spilled this afternoon when two vessels collided. it's not yet clear how much of the chemical spilled or whether the leak is ongoing. a two-mile section of the houston ship channel -- home to dozens of refineries -- is closed until further notice, but it is an additive to gasoline that has spilled into the channel. david: that is a messy business. all right, well, it was the news of the weekend, and it looks like it's spilling over this weekend, even some allies of hundt are saying she is -- of hillary clinton are saying she is in real trouble as accusations of a pay for play deal are muddying her chances for a presidential run. we have the heritage foundation's steve moore, real clear market's john tamny and

former indiana senator and governor and fox business contributor evan bayh. gentlemen, good to see you all. steve, today we got news from john fournier, very respected journalist, that when she was senator, hillary had a pay-for-play thing going on. he says a new york developer donated $100,000 to the clinton foundation about the same time senator hillary clinton helped secure millions of dollars in federal assistance for that businessman's mall project. now, if she could do this when she was senator, the question is, what did she do when she was secretary of state? [laughter] >> well, we don't know, right? we don't have the e-mails, and that's the whole problem. at least there's an appearance of a kind of cover-up going on here of hillary clinton trying to hide from the public where she gets her money, what she's saying in her e-mails and so on. look, i'm a disclosure guy. we've known each other for a long time. if politicians are taking money, you know, i don't have a problem

about campaign contributions if they're disclosed, david, and that's the problem. none of these were. david: so clarity, john, is the key to avoid this sort of crony capitalism. >> yeah. i think this really looks bad, and i think it looks bad in general for politicians who have been in the establishment positions for a long time because invariably they've taken on these kind of unsavory connections. to me, the 2016 election is going to be about these new people who arrive basically in response to the crony capitalism that led us to 2008. so i don't think this helps hillary clinton. i also don't think it helps someone like jeb bush. david: well, bingo, and that's where i was going to bring senator bayh in to talk about jeb bush. does that kind of spill over into her persona and into his persona from, you know, hey, he's been in the business for too long, he's probably been involved in some of the same deals he was? >> david, hillary clinton and jeb bush are getting the most scrutiny because, in hillary's case, she's the clear front runner, and jed is sort of the

titular front runner. the truth is there's so much money. >> losing around politics these days, it's possible to draw these connections to almost any office holder and try and connect the dots as steve was also mentioning. so in my experience, disclosure is the right path, and these people, you know, 99% of them are honest people. they're not engaging in quid pro quos, but we should get -- david: i wouldn't put it quite that high, but the less money in government, perhaps -- >> i'm only associating with the good ones. [laughter] david: we've got to move on to the next topic, has netflix created a monster? the streaming video service asked for the government to prevent its costs from going up by leaning on the cable providers, but now netflix is worried that government has gone too far in regulating the internet on which netflix, of course, depends. evan bayh, here's what the cfo of netflix, david wells, said last week at a seminar. he said we were hoping there

might be a non-regulated solution. so after creating all this fuss and seeing how far the government has gone in trying to regulate the internet, they're beginning to have buyer's remorse here. >> i think there may be a big amount of buyer's remorse. they were so worried about the telecom companies and the cable companies, they decided to throw themselves on the tend or mercies of the federal government, and now they're getting a huge, intrusive regulatory scheme. so i think a certain amount of rethinking may be going on there. david: again, we've got croakny capitalism, and -- crony capitalism, and it plays right into the hands of the government regulators. >> naturally, there's buyer's remorse but what has me optimistic is, let's face it, the internet moves way taos for the kind of people -- too fast for the people of government regulation. we're going to still see an internet boom. david: steve, can we reverse what the fcc is planning to do in getting into the internet in. >> no, probably not unless there's a huge public outcry.

my reaction to this story is, well, duh. what did netflix really expect? all they wanted was to get a toe hold into this industry, and it's, as the golf and senator -- governor and senator said, be careful what you wish for. we saw this, in my opinion, on obamacare. a lot of the insurance companies are saying, well, maybe this wasn't such a good bargain after all. david: all right, guys. negative interest rates in europe help or hurt the united states, and are trains becoming a bigger environmental threat than pipelines are? liz, over to you. liz: major changes for any american trying to buy a house, a car or even applying for a new job. your credit report is getting a revamp that could help you. we're going the tell you how it will impact your money, coming up. plus, apple watch examined. one of wall street's most bullish analysts tells us why after all the hype it's not the watch he's watching.

what could it be? now that all the details are out would you, will you buy an apple watch? tweet us @fbnatb. we'll read some of your answers coming up. ♪ at mfs, we believe in the power of active management. every day, our teams collaborate around the world, to actively uncover, discuss and debate investment opportunities. which leads to better decisions for our clients.

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>> well, the economic situation in europe continues to look glum. greece barreling towards default. will the us economy and our markets benefit by comparison or perhaps get hurt by exposure to these markets? bring back our panel. john, what do you think about the fact that investment capital may come here because they're afraid of investing in their own place? >> well, i don't think there's really any relation to the two. bad countries repel investment in general. rich countries are able to run up debt. poor countries aren't. too many deficits aren't what matters, but the level of government spending. that's what we have to focus on. the fact our federal government consumes money is a huge

detriment to economic growth in the u.s. >> as bad as we are in terms of growing our government, they're even worse. it amazes me that they said greece is making progress. i don't see them making any progress. won't their failure be our success? >> i don't know about that. i know this, i would never be a bond at that interest rate. you're giving the government money. they're promising you in ten years they'll give you less money back than you gave them in the first place. it's the craziest thing i've seen. it's mathematically impossible. it shows the level of fear. it's one reason the dollar is so strong. i'm a strong dollar guy. it brings investment capital to the united states. my final point is we're the least rotten apple in the cart right now. that's a nice position to be in. >> it shows us how screwed up everything is. we've so screwed up the market by things like interest rates.

forcing interest rates, that the markets are terribly disturbed. >> that's right. they're looking for any growth. so capital will flow to our country. because these things are all relative. in the land of the blind, the one eyed man is king. >> we will continue to benefit this? >> now, is the time to take a european vacation. now the dollar is strong, euro is weak. it may affect their earnings badly. it's great to have a strong currency and economy. >> we heard the news about this terrible spill. very dirty spill. happening on trains and oil. even the tougher tank cars now carrying oil are breaking open and accidents in polluting the land. is it time to dismiss the administration's claim that they're banning oil pipelines because of concerns about oil spills. governor. >> i think it is, david. this is a strange situation we have. where our current policy is in

endanger thing the public. the trains and the truck that emit more carbon than the pipeline will. it seems like a lose-lose situation we're in. >> david, now you know why evan, my presidential candidate -- >> he's not running. i tried to recruit him. >> please, you can beat hillary. but i think he's exactly right. and there's no question about it. it's environmental safer to transport oil and gas through pipelines than it is trucks or ships or tankers. and i never could really understand the environmental -- by the way, we reduced our carbon emissions more than any other country because of the natural gas boom. >> that's right. john, we've had four major accidents. the most recent in ontario. this is far more dangerous than a pipeline would be. right? >> i don't buy the argument either way. lest we forget, oil comes from the earth.

the idea we could harm it, i don't think it's terribly credible. since the administration believes that, it's very curious that it doesn't want the pipelines that will make the spills less likely. i don't get it. >> lest anybody have any doubt. senator was a democrat. >> still am am. >> am. >> still is. thank you very much. good to see you all. liz. >> we like centrists. general motors a 5 billion stock buyback on top of a 20% dividend hike. the move is part of a new capital allocation plan to return all available free cash flow to shareholders. look at shares. they love this. ending the day up 3%. the deal side steps a proxy battle. harry wilson who represents four hedge funds. 8 billion in stock by 2016. he wanted a seat on the board.

he's backing on that now. >> coming up, making credit reports more fair. millions of americans have medical debts on their credit reports through no fault of their own. how the three big credit firms are trying to fix that. how it could affect your next loan. that's coming, next, bill ackman's 3 billion-dollar debt. taking a huge stake in a company that might surprise you. the stock hitting an all-time high. we'll tell you what it is coming up. ♪

>> not only will today's agreement help protect consumers from unnecessary stress and hardship. it will help families all across america send their kids to college, buy homes, buy cars, pay for health care. it will help ensure that creditors and employers are getting accurate information. >> that was new york attorney general eric unveiling what he called the biggest overhaul to american credit in a decade. changing the way they handle credit errors and debt. >> it's a big one for the 2 million americans with credit reports. he's bank rate chief analyst greg mcbride. greg, 43 americans have medical debt. meaning, they're arguing a payment.

these things take a long time to work through the system. it's been holding people back from buying homes. that apparently was viewed as not fair. who does this really help the most? >> yeah. unequivocally, liz, it helps consumers. i can't tell you how many times consumers have been surprised by the fact that there is a medical collection item on their credit report that they had no idea about. when did they find out? when they go to get a mortgage and car loan. the conversation goes like this, the learne lender says what's te collection item from 2010? what collection item, that was paid by insurance. consumer has no idea. the steps will alleviate that. it comes on the steps of fico last august where they're getting make less of a waiting on medical collections because of that reason. so many end up on the consumers credit report simply because it's a dispute between the insurance company and the provider. nothing to do with the consumer

itself. >> to put a fine point on it, we saw 9 95% of the people that hae debt, don't know about it. the question is, whether you want to give too much leeway to people to get more in debt, who probably shouldn't be in debt in the first place. does this go too far in that direction? >> no. i don't think it does, david. because it doesn't impact the underwriting decision. this is not going to change credit reports in terms of their predictiveness about the consumers creditworthiness. what it does, as we talked about the medical debt. it accounts for the fact that so many of these really have nothing to do with the consumer. collection items that have already been paid are going to drop off the credit report once they've been paid. only the outstanding things will linger on there. it makes the dispute process less bureaucratic for the consumer. when there is something on your

report, now the credit agencies will have their feet held to the fire when it comes to validating that information and getting it corrected if what they have is not correct. >> be honest here, were people not being able to buy the home even if they had the down payment because their credit score was unfairly tainted by these things. >> well, i think a lot of that is hyperbole, to be honest. look, does it impact somebody in a negative fashion if there's a collection item that shouldn't be there. could it make you pay a higher interest rate than you should. yes. but that single fact by itself -- liz: i was going to ask what is the fico score that you have to have if you'll buy a home these days? >> oh,, well, depends on what kind of interest rate you get. anyone 700 or better will get the best interest rate you've ever seen. in this environment,

fannie mae and freddie mac are buying things -- credit score 620 and above. one single item will probably not sink somebody low enough that they'll be shut out altogether, unless they have some other dents in the car also. so if you've got good credit and proof of income, money for a down payment, that one erroneous payment won't shut you out. it may bring your interest rate higher. >> we should mention, lest you think people that don't pay their bills get a free ride, if you wait 180 days, it's fair game for these agencies to put that debt on your credit rating. right? >> yeah. in the case of the medical debt, absolutely. this is not something that will let people skip out on bills they otherwise owe. it gives that 180 day period, if it's a dispute between the provider -- >> which it almost is.

you're almost always in dispute with some part of your insurance bill. it just makes sure that that doesn't interfere with your overall credit rating. >> absolutely. the whole idea is accuracy here. as consumers, we have to do our part too. pull copies of your credit report. as you're entitled to do. that's the best way to police those errors that show up. >> greg, thank you very much. bankrate.com chief financial analyst. sounds like a good thing. >> it does. >> thank you, greg. >> apple wants to do more to control your watch, your laptop, your tv, and your wallet. coming up, can it control whether you buy the stock? we're talking to one of the most bullish apple analysts on the street as well as a leading industry expert. >> red robin looking to turn up the heat. it was one of the original gourmet chains. can it beat out shake shack and five guys?

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liz: the time has finally come. apple officially jumped into the new, but

crowded market. the new watch which takes calls, sends messages, tracks your fitness, opens your front door. david: what? >> yeah, but with a steep price. security managing director and senior analyst wh who has a 150 market. great to see you both. mark, right off the bat, tell us how you felt about it. >> sure. i mean, i think what's good about this launch is that we've been hearing about the features and everything else. but it will be all about the apps. what will you do once the novelty wears off? it's nice to see the third party options, like uber, where you can order a car from your watch. or check into the hotel without going to the registration desk. >> doesn't your phone already do that? now, you have your watch and your phone. are we getting too tethered here? [laughter] yeah.

and i think it will be cool in terms of what will the watch do on its own? i can go for a run and leave my phone at home, and i'll be able to get things like pace and distance and things like that and leave it behind. as a fitness tracking device, i won't need my phone. there are some cases where you need your phone with you. >> mark, thank you. hold on. we want to bring in alex into the conversation. does your price target change at all? you were among the highest with $150. >> what's really important about what happened today -- first and foremost, these hbo exclusive sets a standard in terms of content producers. then you look at the 700 million iphones sold to date that tells us we're on track to do north of 50 million units in this current quarter which sets them up for another record. the apple watch simply rounds things out. it's a device they need

to have to make sure app developers aren't going anywhere else. in and of itself doesn't change the game today. >> we saw that with the stock. it didn't. everyone was watching this. we saw the tweet from the actor and comedian -- he said, put on my 10,000-dollar watch, walk to my 100,000-dollar tesla, drive to my 15 million plane and fly straight to hell, which we thought was very funny. at some point, we have a lot of these things -- i want to show you what i'm wearing. i have my wristwatch. then my polar tracker. there are so many things. will this replace all of those, it does not. right? >> no it doesn't. he has a point. even though a smartwatch will save you time. there will be lots of times where you're looking at your wrist to see the notifications. you have to be careful about that. they want to be the only

wearable on your wrist. they want to be the smartwatch device and fitness tracker. they seem to be in the lead so far. remember, this is a first generation device. the 18 hours of battery life is good not great. there will be a lot of people who wait it out for the second version. as a first stab, they're learning from the mistake of their competitors. >> they better pop it out so the 2.0 can go in. too expensive. alex, you were looking for a surprise. did you get one that you wanted to see? >> in a way. i think that the development with hbo, even though somewhat expected, the exclusivity of it is a very strong positive for apple on this quarter. i also thought research kit was a very interesting development. that being fully open source. so if you put the new apple watch in the context of what it can do to enhancing and enriching global lifestyles and medical research, this could very well be an

important watershed today. but not necessarily something that moves the stock in the near term. >> okay. as you said, mark, one of the things that caught my eye the most because i have amac macair is the thin mac. it's 2 pounds. 24% thinner. (?) i was calling it a tabtop. not a laptop or a tablet. it scwish squishes in there. >> i went hands-on with it. it's very light at 2 pounds. they made trade-offs. the keyboard is different than anything you've ever used. and the touch pad, even though large, it doesn't depress. it feels like you're pressing it down. a little bit of a learning curve. i like the types of trade-offs they're making to make it thinner and lighter. >> that's very apple. to make it new, but better. alex and mark. mark, enjoy your time in california. thanks to both of you.

activist investor bill ackman making a big bet, purchasing a 5% stake in one single pharmaceutical giant. we'll tell you what the billionaire is buying into next. >> and red robin looking to lead the pack of gourmet burger restaurants. jeff flock finding out how from red robin's chief, jeff. >> going where red robin has never gone before. downtown. i'll take you inside. and i'll introduce you to that guy. that's the ceo of red robin. we'll ask him what he's thinking in a moment. >> hi, everybody, i'm gerri willis. coming up at my show at the top of the hour. turbo tax under investigation for tax fraud. whistle-blower who says turbo tax is helping criminals steal refunds. we'll be here. one of the big stories coming up in just a few minutes on the willis report.

>> well before there was shake shack, there was red robin who started flipping burgers in 1940. >> the burger chain is ready for the next step. a spin-off brand. stephen carley is speaking with jeff flock exclusively. jeff. >> i tell you, red robin, everybody knows, think of those suburban sit down restaurants. you said, i want to take

those guys on from shake shack and the rest. right? >> that's exactly right. we're building on 50 years of burger authority. we got great value. great quality. and we've added terrific speed. let me show you. >> let's take a look -- we just got the earnings or the sales results on mcdonald's today. this is shark infested waters you're competing in. and, you know, i guess i have to ask you, you've invested a lot into this new concept. >> well, we are the burger authority. have been for a long, long time. all of our units are in the suburbs. people go to the speed, they control their experience, and they're in urban areas and we're not. we decided to invest and take care of the cities. >> look at shake shack. get a shot in here. shake shack what you've done and what they've

done, you haven't done bad. >> we're pretty happy, thank you so much. >> this is very competitive. what are you doing different? you have -- how many different burgers? ten different burgers? >> we took our ten best custom burgers from our big box and put them here. it starts at 4.99. >> which one is that? >> the 4.99 guy is here. you add a drink and fries, that's ten bucks. two or $3 less expensive than shake hac shake shack or fe guys. >> that's amazing. you were doing so as well. why invest a lot of money to take on a bunch of people that have already invested a lot of money. >> we've been the burger authority for a long, long time. and we doubled down on that. we decided b not to let anyone hijack our equity. walk in, order, pay, we

run their food out to them. >> i always knew that someday if i worked in television long enough, i would end up flipping burgers. there you go. >> we want that. we want that. >> don't quit your day job, please, jeff. stay with us. >> i might have too. never know. >> good luck to steven at red robin. >> pershing square, run by bill ackman, taken a 4.9% in valeant pharmaceuticals. it will take a passive approach. the company began building a stake a few months after helping valiant buying -- it is now the fifth largest shareholder in valiant. (?) tesla says it will cut jojobs in china. a restructuring plan launched earlier this year after the company missed sales targets in china.

tesla wouldn't specify exactly how many jobs would be cut. they said it wase limiting 30% of its staff. (?) tesla down 14% year to date. >> see you back here tomorrow. gerri willis is here now. gerri: hello, everybody. i'm gerri willis, this is the willis report. turbo tax under federal investigation over fraud. we'll have the -- the whistle-blower who says they knew that they were stealing tax refunds, but did nothing about it. >> when you have that information flying around, it will be stolen. >> the big three credit reporting agencies announced a major overhaul. we'll go through the changes and how they affect your credit report. gas prices surged 20% over the past few weeks. >> nice to fill the tank and not pay a ton of money. >> will they shoot back up as quickly as they came down.