a big week ahead for tech as companies show off hot new gadgets at the mobile world conference . in today's cover story.... the latest manuever by college athletes who want to become paid employees. and....worry lines.... efforts to rescue the economy in 2008 are still playing out today... plus... shift change. a nostaglic look at a trading exchange.. first business starts now! you're watching first business: financial news, analysis, and today's investment ideas. good morning! it's monday, february 24th. i'm angela miles. in today's first look: stocks simmer down. a two week winning streak came to an end friday.. as the stock market sold of slightly. gold continues to generate attention adding on $7 dollars and oil slumped 53 cents. barnes and

noble has a potential offer from a buyer. a private investment group g asset management is considering buying 51% of the company for $22 per share. the stock closed last at $17. and, air fare is going up. the $10 increase on tickets will primarily affect business travelers booking flights at the last minute. at the sound of the bell, scott bauer of trading advantage is good to go on this monday morning. good morning scott. > >good morning angie. > >this is the final week of february. what will the stock market look like? will we see more volatility? > >i think we absolutely will. we've seen it ebb and flow the entire month. if you look at the end of last week, specifically the vix and the volatility of the vix. it really didn't get hit as much as it could have been with the rally we saw in the market toward the end of the week. the fact that it is not trading lower than

14.5-14.70 signals to me that there is definitely volatility ahead. > >hewlett packard was one of the big companies to report earnings last weekend. the ceo, meg whitman, has some promising and encouraging news for investors. is this a stock you would buy? > >not here. it really isn't. i think i need to see what meg is saying in regards to the pc still being alive and encouraging news about that. i have to see that work. i have to see what happens over the next quarter. i'm not a believer yet. i know they're getting into the 3d printing which is the hot thing right now but i'm not a believer yet in hpq. > >thank you for being on the show this morning. > >have a great day. natural gas prices futures are flaring up again as a new round of freezing temperatures are forecast for this week. natural gas prices are up roughly 50% this year in what has been one of the coldest winters in 2 decades. accuweather's bernie rayno has the breakdown on what to expect. winter makes a return this week with a vengeance. it's going to

continue to get colder during the early and middle part of this week we've got a threat for snow from the mid atlantic up in the new england on wednesday... behind that storm... theres going to be a direct discharge of artic air to the upper mid west and northwest as we close out the week and we'll have to keep an eye on the south for another storm late this upcoming weekend and into early next week. the only good news i have to report is this week we could be looking at some much needed rain across california, and they'll take every drop they can get. good to hear...we are turning to chuck coppola who has more fallout from the weather.. angie...auto sales are shifting out of a recent slump. j-d power and associates expects car sales to jump 5% in february , as aggressive promotions over presidents day weekend coaxed shoppers into showrooms. auto sales were down about one percent in the first

half of the month, but analysts say buying activity from late february will boost sales after a disappointing january. the weather is partly to blame for crumbling sales of houses. home sales in january slid 5.1% from december as winter storms gripped the nation. the drop was steeper than anticipated by economists. sales began to slow in mid 2013. economists are concerned the housing market may be losing strength as mortage rates rise, fewer homes are for sale on the market, and housing prices are taking a sharp upturn. fannie mae is set to reimburse taxpayers for the 2008 housing bailout. after strong fourth- quarter earnings, the mortgage giant will pay a dividend of more than 7-billion to the u.s. treasury next month. at this point, its 116-billion dollar bailout payment is offset - and more than fully repaid. the government rescued fannie mae and freddie mac during the financial crisis in 2008. both are still under federal control. now that the crisis is clearing.. federal reserve officials are releasing what was said as the finanical market

was melting down in 2008. among the comments from fed members in newly released transcripts...fed chair ben bernanke told colleagues he was philosophically torn about the collapse of lehman brothers. there was a debate on whether to loosen monetary policy. and a discussion the consequences of taking measures to rescue the u.s. financial system. "there are probably going to be 100 more consequnces when its all said and done but right now the fed is flying a plane with no windows, with the idea that this has never been done, and there is no playbook for what they are doing. and so removing the stimulus is probably going to be as hard and as difficult as it was to enact it." that was todd colvin of rj obrien. traders could learn more about the fed's plan to taper its stimulus program as new fed chair janet yellen testifies thursday before the senate banking committee. a bank that is all too familiar with the 2008 crisis is planning an ipo this spring. ally financial, the former financing arm of general motors reportedly hopes to go public in march. ally, which was bailed

out by the federal government back in 2008...is one of the few remaining banks in which the treasury department still holds a stake. marketwatch reports the i-p-o could be worth four and a half billion dollars. turmoil at the top-- doesn't appear to be hurting well point's stock. shares rallied more than a dollar friday on word the company is firing it's interim ceo without stating why. well point is the nation's second largest health insurance company. there have been 3 ceo changes at wellpoint since 2012. amazon is planning to connect with brick-and-mortar retailers the online retailer will soon add products from j. crew, ralph lauren, and lord & taylor to its site to generate website traffic. amazon customers would link to retailers' websites to purchase items. the new venture is expected to launch next month. in spain...the biggest names in mobile technology are in barcelona today for the "mobile world conference". sony, lenovo, and htc are just a few of the innovators expected to release new gadgets this week.. reports are already surfacing samsung will show off a bendable tablet. tech analyst rob enderle predicts smartwatches will be part of

the tech craze. "if you're a watchmaker, or even if you're a consumer electronics manufacturer, there's a chance you're going to have something in barcelona, and since apple kind of lost the leadership in this segment, a lot of these guys are going kind of crazy with technologies and developments." enderle tells he is sworn to secrecy but major surprises are in store. facebook's mark zuckerberg gives the keynote speech today at the mobile world conference. google is getting into the wifi world. according to a report by tech website engadget, the search giant has built android and i-o-s versions of an app that automatically connects to its free hotspots inside starbucks stores- or, wherever they are available. there is no word on when the app will be active, but google says the service could be in as many as 35 cities as it develops. president obama will make an

appearance in minnesota wednesday. local newspapers there report the white house describes it as an "event on the economy". the new york times suggests the president will spend the next couple of weeks giving glimpses of his budget. including his vision for investing in programs that increase opportunites for the middle class. detroit's plan to exit bankruptcy is subject to drastic changes. a blue print released friday needs approval from a federal judge. it calls for cutting city retiree pensions by 34%, and police and fire retiree pensions by 10%. some of detroit's municipal bond holders could be hit with a proposed 80 percent cut in their claims. however, the plan would require one and a half billion dollars to fix troubled neighborhoods and improve city services over 10 years. the city's emergency financial manager says his team is satisfied with progress made so far. a union official called the proposal a gut punch to detroit's workers and retirees. under armour will remain "under" contract with the the u-s olympic speed skating team. despite complaints by athletes under armours high tech skin suits were not

working out well at the olympic games, the speed skaters have extended the contract until 20- 22. investors cheered the move sending the stock $5 dollars higher friday. it's an honor just to be nominated....especially when you get a glamourous gift bag. oscar "swag bags" for nominees are reportedly worth more than 80 thousand dollars each this year. here's a peek at what's inside...trips to hawaii, japan and canada, a home spa system, and a home water filtration system. also included, more than 7 thousand dollars worth of upscale pet products. the people behind the scenes the hit netflix series "house of cards" are playing "real" politics. much of the show is shot in maryland.. and, this letter to the governor obtained by the washington post urges passage of legislation that would give the series more tax credits. without it, house of cards may consider taping elsewhere. maryland has spent more than $40 million attracting movie and tv productions. it's estimated-- house of cards has created 6,000 jobs and pumped $250 million into maryland's economy.

a major player in the candy industry could soon be for sale. marketwatch reports russell stover candy is looking for a buyer. some estimates value the company at more than a billion dollars. russell stover is the third largest candy maker after hershey and godiva. it's candies are in about 70 thousand stores in the u.s. coming up, in 2015 the u.s. postal service will release a commemorative postage stamp featuring apple co-founder steve jobs. the postal service appears to be transitioning toward pop culture for new stamp subjets. - along with jobs, slain gay rights leader harvey milk, musician jimi hendrix and tv host johnny carson are listed as in design development for new stamps. grab some hand sanitzier...more americans are coming to work sick! according to a survey by health organization n-s-f international about a quarter of employees go to work while ill. the majority of respondants worried work would pile up in their absence. others

said they simply can not afford to take the time off. a smaller percentage say their boss actually expect them to work healthy or not. still to come: the evolution of the trading floor... why some traders long for the days of hustle and bustle. drama on the field moves to the courtroom as college athletes push to unionize. and after the break.... find out who on wall street is getting a fat raise. we'll be right back! i'm going to pass chemistry, and i'll take it from there. i'm going to do what makes me happy. i'm going to work hard. be independent. live large. make the most of every opportunity.

i knew i wanted to go to college. but figuring out how to pay for it? i didn't have a clue. the u.s. department of education has over $100 billion. and that's a lot of money. to help students pay for college. and the free application? you mean the fafsa. i did it online. it was easy. i'm never giving up on my goals. i will make a difference. i'm going to find out how to pay for college. i'm going to college.gov.

the ceo of citigroup joins the list of wall street bankers receiving a pay bump. michael corbat took home a $14 million dollar pay package last year. it included a base salary, cash bonus and stock according to an

sec filing. it's also 20% more than the $11.5 million he earned in 2012. bank of america ceo brian moynihan was awarded $14 mllion last year. while jp morgan chase ceo jamie dimon upped his salary to $20 million. bank stocks on average rose 41% in 2013. in today's cover story, the head coach of northwestern university's football program reiterated that being a student-athlete is "a full-time job" but he also qualified it-- saying he meant it from a responsibility-standpoint. it's the latest testimony in a national labor relations board hearing trying to determine if northwestern's players have a right to collective bargaining. northwestern football coach pat fitzgerald told a labor relations hearing that his players are required to attend meetings, and activities including conditioning sessions year-round. the only breaks-- eight weeks mandated by the nc- double-a.

"there are 300-pages of schedules. yes, he has control over their lives as if they were an employee. that's the heart of the case." last summer, fitzgerald told reporters at a big ten media day, that his players are "going through a full-time job by being a student-athlete. now, a group of northwestern players say they're entitled to collective bargaining rights, particularly concerning injuries that could become chronic medical conditions. "the players aren't guaranteed medical expenses, later on if an injury becomes chronic. concussions is an issue we're just now coming to grips to." the national labor relations board is hearing the case. representatives for the university and its legal team declined to comment on camera. referring instead to an online statement that read: "our student-ahtletes are not employees but students. we do not regard our football program as a commercial enterprise." the school says it provides medical coverage for student- athletes up to a year after their college playing days

are over. but guarenteed health care beyond may be just the beginning. "maybe put a concussion expert on the sidelines. there are things that under their conferences and ncaa rules, that the players can get done." "once you have formed a union, then they can address working conditions and money as this progresses." a ruling on the case is expected within a month. thank you for that report chuck. coming up...loud and proud-- a looking back at the glory days of "open outcry. " in the trading pits. and later...stock that is generating energy in the options market. we'll be right back!

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a new film highlights trading in the hey day at the chicago board of trade... the film is called "pit trading 101." the producer, director and former trader who appears in the documentary joins us on set. jonathon hoenig--better known as the capitalist pig. welcome to our show. it's great to have you here. we see you on fox. > >thank you. happy to be with you. > > so tell us about your film. you brought some trading cards to prove you were there. > >well if you wanted to be a trader, this is what you used to have to wear. you had to have the cards, you had to have the badge. you had to have the

raggedy voice. trading was a lot more than just point and click just 15 or 16 years ago. and that's when pit trading 101 was originally shot. back then, in the late 1990's, i was one of these very young students just learning the intricacies of open outcry trading and actually having to stand in the pit and make trade like a chicago local had done for over 160 years. so this film was shot back then and finally put together just in the last few months now that open outcry trading and the floor as we know it has gone. > >will it ever make a comeback? > >just as we won't have elevator operators anymore, we won't have pullman porters. > >it's over. > >it's over. and you know even talk to young traders today and the notion of having to physically write down your trades on cards. > >they have tablets now...they don't need it. > >exactly. this mechanism has been replaced. that's a good thing. but unfortunately what has been lost is that very unique community that existed on the trading floor--right down

to the language that we used. right now if you want to sell something at a price of 25 you push a button. back then you better make sure you signal 25 in the correct way because if you were doing this instead of this you would have sold 75 instead of 25. > >and the feel of the floor-- there were actually bond traders who left cbot and then came back because they missed the feel of the crowd. the roar from the floor just wasn't there when they were trading at home. there are other films out there such as the pit and floored. how is your film different? > >a lot of those films focus on the transition from the open outcry world to the electronic world. pit trading 101 is specifically about what it was like. most people have had at some point the dream of putting on a trading jacket and stepping into what was called for years the last bastion of pure physical capitalism. so pit trading 101 dot com lets you do that. > >what do you think about the market? > >about the stock market? > >yeah! are we heading for a rally or valley? > >markets are volatile. they always will be. i think the

real action is going to be not so much in stocks but in bonds. i was a bond trader back in 1996 and 1997. they've been on the 30 year bull market. so if i was going to sell a market short right now it would be the bond market, not the stock market. > >johnathon thank you for being here. the movie again is pit trading 101. > >thank you. you can find it at pit trading 101 dot com. still ahead-- why money may soon flow into an oil stock that doesn't normally get much attention. chart talk is next.

andrew keene, president of keene on the market dot com, joins us on this monday morning. happy monday to you andrew. > >happy monday angie. > >you are looking at a stock called new star energy. what do you like about the chart? > >there's a couple things i like about this. the way i trade is very stock specific. i watch unusual option activity which is institutional order flow through the options market. we're looking at the big players

here. hedge funds, mutual funds, retail banks are big traders. twice this week--on monday we saw a trader buy september 55 calls. if you look at the chart, it looks very strong but it hasn't been able to get to that 55 level. then on friday we saw a trader come in and buy 10 thousand of the june 55 calls. so someone's making a big bet that new star can break above $55. this is a small cap company. it's only worth about $6 billion. they are based out of texas and do a very similar thing to psx--phillips 66--and they're in the refining business. with the institutional order flow it only trades about 300 thousand shares in a day. if you think about it, 10 thousand options controls the right of 1 million shares. so someone's taking a huge bet here in new star that it can get through 55 by june. the 5 year high is $70. i think it can get through 55--possible take out candidate. put this one on the radar. i am long this one via calls. > >exactly. i'm wondering why exactly would somebody all of a

sudden think this stock could move. maybe the cold winter and more oil moving throigh trucks or something. but this is a tough call andrew. i see what you see in the charts. > >the chart looks great. it looks a little toppy up here around this $51 level. it can't get through that $53. the strike of calls we're seeing is the 55 strike. so someone really thinks it's gonna push through 55. with the cold weather we've seen a lot of call activity which is bullish activity. a lot of the names we have seen are southern copper, eca. now we see this one here in new star. on a risk versus reward basis, i'm long june 55 and september 55 calls. i think it breaks through 55 very soon. > >thank you for bringing that to us andrew. have a good day. > >thank you. you too. coming up tomorrow-- a huge warning. if you took out a mortage in mid 2,000.. your interest rate could be ready to sky rocket. join us tuesday to find out what you need to know. that's it for now-- from all of us at first business, thank you for watching.

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