could a new ruling pave the way for college athletes to collect a paycheck? in today's cover story...the senate gives retailers a playbook for hack attacks. plus.... citigroup fails its stress test. how the stock might react today. and ... traders give us their two cents about the latest ipo to fall flat. first business starts now! you're watching first business: financial news, analysis, and today's investment ideas. good morning! it's thursday, march 27th. i'm angela miles. in today's first look: investors are not biting on the candy crush ipo. king digital debuted the stock at the new york stock exchange wednesday. shares fell $3.50. facebook stock fell out out favor after spending $2 billion dollars to buy oculus, the maker of 3 day

goggles. that stock dropped $4.51 cents. bank of america will pay $9.3 billion dollar to settlement with fannie mae and freddie mac over mortgage losses and stock tumble on worries about russia as well as an options short play predicting a large down move in the s&p by mid may. stocks sold off along with gold as oil rose above $100. let's say good morning to todd horwitz of average joe options, hello! >>what's up angie. >> so tell me what happened to king digital and candy crush getting crushed in the market yesterday? >>we see these ipo's and you look at the whole marketthey get so excited because everybody's trying to chase a place to make a quick buck. candy crush is already crushed because it was overpriced to begin with. unless they can come

out with another game to back it right up, the stock is probably going to head a lot lower.i don't hold any hope for king digital. >>what do you think about gdp numbers coming out today? >>i think when you look at the numbers, they're so artificially inflated and driven right now that whatever number they come out with it will really depend on what street expects. but based on the tape action we've seen in the last week or sowe've seen markets rally in the open and then sell off immediately with the exception of tuesday. we had a rally. but the markets themselves i don't think really are going to interpret this number. they are really looking at more of what the fed is going to say. i think the gdp number will probably match what the expectations are. >> you are always looking for a breakout buy ... what are you watching now? >>you can always look for individual stocks. one thing i always want to make sure everybody understands is i'm gloomy on the overall big markets but little stocks within the big markets are always playable. i have been playing a stocklng. that stock's

up to 55 and i would still look to be buying a stock like that. when you look for individual stocks, you want to look at the individual chart pattern. a stock like verizon has been holding up remarkably well throughout a day like this. we have to look at the overall picture and look at stocks on an individual basis. but when i look at the indexes as a whole, the big indexes i don't want to be buying up here at what i think are highs and i think we'll look back 5 years from now and say that was a bubble there. dr. doom was right. >>thank you dr. doom and gloom. >>thank you. chuck coppola joins me now with a landmark ruling in college sports... the national labor relations board has ruled that northwestern university football players are considered "employees" of the university and directed that a union election be held. it's expected that northwestern university will appeal the ruling and if upheld, could trigger a series of challenges that could ultimately reach the supreme court. northwestern football quarterback kain colter, one of the more prominent players behind the effort to unionize tweeted "this is a huge win for all college athletes." in the 24-page ruling, it was specified that "players receiving scholarships from the employer are "employees." it was signed by peter sung ohr, regional director for the n-l- r-b. "northwestern enjoys enormous income from football. //

the regional director of the nlrb called them 'workers, not primarily students, who, most of the time, were practicing and working out for football." northwestern issued a statement saying "while we respect the nlrb process and the regional director's opinion, we disagree with it. northwestern believes strongly that our student- athletes are not employees, but students...that participation in athletic events is part of the overall edcuation experience for those students, not a separate activity." the university has until april 9th to request a review at the n-l- r-b's national level. employees recieving tips could be in for a raise. the obama administration wants to increase their earnings from 2 dollars and 13 cents per hour-- to 4 dollars and 90 cents by 2016. critics claim it will cause job cuts. the crimean crisis continues to push russia's economy toward the brink. now, the world bank says implications of tensions between russia and ukraine is accelerating economic weakness, citing russia's reliance on oil wealth and rising interest rates. investor money has drained from the nation and its

stock market has lost steam. the world bank says a recession is likely - even without the threat of sanctions from western nations. at a summit of world leaders in brussels, president obama renforces a united stance on the russian conflict. "the united states and europe, stand united on this issue. we are united in our support for ukraine and for the need to provide economic assistance to help stabilize its economy. we're united in our committment to europe's security." in an effort for europe to reduce it's dependency on russian oil and gas, the president said negiotiations have started on a transatlantic trade agreement to export energy to the e-u. europe gets about a third of its oil and gas from russia, much of it flowing through ukraine. president obama pushed europe to "diversify its energy sources". a meeting of european and u.s. energy officials will take place next week.

debris spotted in the indian ocean could be the breakthrough officials have been hoping for in the malaysia airlines mystery. military planes from six countries and five ships from australia and china are currently sweeping a search zone. satellite images released yesterday show 122 objects over 154 square miles. that's according to the malaysian transport minister. the debris is described as close in proximity to other debris, captured by satellite images -- released last week. a last minute surge to sign up for health care insurance is underway. according to the government.... americans are scrambling to beat the monday deadline. 1.2 million people logged in to make their insurance selections on tuesday. obamacare call centers were busy with 390,000 callers...due to high demand.. consumers who start the application process by march 31st.. will be given a grace period after the deadline to finish. in our cover story---a senate committee is scrutinizing how credit card information for millions of consumers was hacked at target stores, late last year. and how to prevent it from happening again.

target's chief financial officer responded to sharp questions that it's management ignored missed opportunities to intercept hacking attempts or notify millions of customers whose credit card numbers, addresses and home phone numbers had been stolen. "protecting american consumers is a shared responsibility. and target wants to be part of that solutiion." but in general, years of leglslative attempts to create a federal standard for identifying credit card hacking and notifying customers has failed to reach agreement in washington. "in the past, people have been hesitant to undertake this because they didn't see the return, including target." but now, besides target's cfo, panelists from visa, entrust, the federal trade commission, all agreed a federal standard needs to be set. the victims, not limited to consumers and retailers. but now, besides target's cfo, panelists from visa, entrust,

the federal trade commission, all agreed a federal standard needs to be set. the victims, not limited to consumers and retailers. "the mechanisms that banks and retailers have aren't enough and until we put penalties in place" // "they won't fund security to the level needed to fix the problem." target's c-f-o says the retailer's spending a hundred million dollars to convert magnectic stripe credit cards to more secure "chip and pin" cards. it hopes to have cards for consumers by early next year. the ceo of gm is putting damage control "on tape"... by answering consumer questions about the safety of 1.6 million cars recalled due to faulty ignition switches... the simple answer is yes. gm engineers have done extensive analysis to make sure if you only have the key on the ring, that the vehicle is safe to drive. mary barra is slated to testify to congress next week and explain why it took the car company nearly a decade to order the recall. 12 deaths have been linked to the faulty switches that could cause a power loss to steering, brakes and airbags. nissan is recalling nearly a

million vehicles. the recall is centered around the air bag system software in nissan and infiniti brands shown here. it says the software may not detect a front passenger, and therefore may not deploy the airbag in a crash. the government has received reports of accidents, however no injuries or deaths are reported. citigroup failed a stress test. the federal reserve says the bank's capital cushions are not strong enough to withstand a severe economic downturn. citi's ceo says the firm will work with the fed to meet expectations. citi shares fell 6% on the news. the federal reserve approved the capital plan at jp morgan chase. the bank is nowing buying back $6.5 billion shares while raising its stock dividen to .40 cents per share. goldman sachs and bank of america passed the test after reducing requests for buybacks and dividends. mt gox is working with police to search for it's missing money. the japan based bitcoin exchange is working with tokyo police to recover more than 450 million dollars wiped out from investors' accounts last month. mt. gox says in a statement: it "continues to make efforts

to clarify facts as quickly as possible and to recover from damages." the company filed for bankruptcy protection february 28th. a rough winter for american's is turning into an even tougher time for farmers. snowy, frigid winter weather could make it difficult to plant corn and soybean crops. bernie rayno of accuweather has the farmer's forecast for us this morning.. bernie? unfortunately, the weather as we go forward is not going to be much differnet that what we've seen this past winter. that is the core of the cold across the united states has been accorss the midwest that is going to continue not only for the next couple of weeks but as we go through the month of april. and as a result its going to take a little time before we get soil temperatures up to a high enough level that we can plant the corn and the soybeans and it looks like that is going to be a little later than what we have seen in previous years because of how the cold is lingering as we go through the month of april. thank you for update bernie. my pleasure.

walmart is issuing a recall of dolls. 174 thousand dolls sold exclusively at walmart since august of 20-12, are being recalled. the "my sweet love" brand of "my sweet baby cuddle care baby doll" cough and heat up with a "fever", but officials say the circut board in the toy can cause it to overheat. 12 complaints have been filed, including two that caused burns or blisters. toys r us blames walmart, amazon and a decline in babies for a sales slip. toys r us posted a 4.1% decline in sales during the holiday quarter. sales fell to $12.5 billion dollars last year. the sharpest decline since 2009. the ceo says the retailer is talking to suppliers, customers and employees to fix the fall. levi strauss and company is laying off 800 workers during the next year and a half in restructuring efforts.

according to the company-- the cuts will be primarly management positions around the globe. this is just phase one of the restructuring plan and is expected to result in up to a hundred million dollars in savings. still to come: the stock one trader says he wouldn't buy with someone else's money. plus... the film that's getting big reaction from audiences before it even plays on the silver screen. and...why "trade" optimism is at its highest level ever. that's after the break, with bill moller!

though for years america buys far more from other countries than they buy for us - the trend is changing. you see it in the hard numbers and in research reports such as the hsbc global connections trade forecast. steve trepiccione is a senior vice president and

managing diretor at the bank. tell me about what you're looking at here. is it mainly optimism? >>the report tells us a lot of things bill but we're most excited about is the optimism that u.s. businesses have for global trade. two thirds of the respondents see in the next 6 months that their trade will increase. where u.s. importers are really looking at most is asia and latin america where the growth rates are much higher. the industries that are actually seeing the most optimism are manufacturing, wholesaling, and retaling. but the report goes specifically into the tech goods sector. we define tech goods as hard good such as printers, copiers, and telecom equipment. we believe that sector will have much higher growth in the medium term. what this means for u.s. businesses is america's in demand.these countries overseas

are growing fasteremerging markets in asia and lain america. there's a burgeoning middle class that's going to have a great appetite for high quality u.s. goods. >>what are they looking at to have this level of optimism? is it just trends that are already underway? >>i think in the short term we're seeing an impoving global economic outlook. there's a lot of global demand as the global economy improves. with that demandparticularly in these emerging marketswe're seeing this growing middle class is going to have a lot of purchasing power. they're going to want those high quality goods. >>a lot of those countries are as hungry as we are. what do we need to do to keep that strong trading position? >>in the tech sector, what we need to do and what we have done is we have a very good, educated work force. we invest quite a bit in technology. we need to continue to invest in r&d so we have that competitive advantage to get good quality projects out the door. but most importantly i think what is happening is the global economy itself and these markets are growingthat demand is going to be very significant. >>very encouraging to hear that. stevethanks so much. >>thanks for having us.

thank you bill...still to come-- find out why one traders is stretching for reasons for lululemon stock to rally and has a loss of appetite for the candy crush ipo. plus, a the bible based film our critic considers a heavenly delight! that's coming up in movies and money.

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.

a film opening this weekend may need a life raft to handle the outpouring of controversy. our movie guy-- eric childress is here to talk about noah. you screened the film what's your reaction? >>i think it's terrific. i think it's one of the best films i've seen all year. >>you loved it! >>i loved this movie and i think i cannot understand why paramount was trying to hide this film from critics. >>what is that about? >>they're sort of running scared. they have a really big budget film going on and for a few months they've been courting this controversy that you're referring to. trying to court the religious people and

christians to get on board with this film. because of some early script leaks they say may not be quite in tune with the original noah storysome liberties have been takenthat they're sort of keeping it at a distance. they didn't decide to screen this film for a lot of the nation's film critics until just yesterday. >>the criticism was so high in antcipation of this film that paramount actually had to come out with a statementthe company says"the film was inspired by the story of noah. some artistic license has been taken and the biblical story of noah can be found in the book of genesis." this is unusual for a film studio to do this. >>they're trying to keep people on their side. this is the same studio that released 10 commandments back in the day. no one's going to accuse that movie of being 100% in tune with the bible. surely there were liberties taken with cecil b. demille back in his time. this is a very spirtual film. it has some things that people might

consider lord of the ringsish. if you read stuff in the bibledarren aronofsky has saidyou can point to things actually in the text of the bible that shows you where some of these liberties are taken from. so don't be so quick to dismiss this film. it's a really great movie. >>i heard the director is an atheist. is that true? >>i can't speak to that but his body of workwhich is very well liked by film criticsthere's a great spirituality in those films. requiem for a dream was about drugs and pi was about science but they're all about the search for spirituality and greater meaning to life so he can't be that much of an atheist if he's looking for the same questions that christians are. >>also coming out at the box office this weekend you saw sabotage as well >>yes and people should absolutely not go see that movie. it's an absolute mess. >>it's the antithesis of noah. >>it really is. >>okay let's move on to the box office last weekend >>if there's some justice, divergent is going to take a serious drop this week. i think lionsgate is going to make their money on that eventually but it's going to make a huge

drop and maybe make the sequel next year take a huge drop as well. hopefully noah will have just enough to get over the hump into the number 1 slot. whether or not people are brave enough to keep it there is another question. so go see noah this weekend. don't listen to the controversy. go see it because it's going to be a real special experience. >>thank you erik. >>thank you. still to come on first business...lululemon is one of the most anticipated earnings reports of the week. find out out how traders are gearing up for the stock after the break.

talking to veterans about the real issues they're dealing with can be awkward and uncomfortable. we think to ourselves, "i never served. how could i understand? they'll talk about it when they're ready." and then we wonder why they don't want to talk.

but when their behavior changes, when they withdraw to themselves, increase substance use, or even talk about hurting themselves, it's time to act. because if we don't, our families and relationships will suffer. ask the hard questions. listen to the veterans in your life and show you care. make the call. it matters. when you recognize a veteran is in crisis, call the veterans crisis line at 1-800-273-8255 and press "1".

we have a lot to talk about with james ramelli of keene on the market. com. let's start with that king ipo. would you be a buyer of this stock? >>i would not. i wouldn't buy this stock with your money. investors are realizing that they have a major fundamental problem. the fact is their revenues are tied entirely to the success of candy crush. 80% of all their revenues come from that one game and any company that has that much revenue tied up with one product is in serious trouble should the popularity of that product fall off. i think it is way too much risk here. i would not be looking to get long king even though it traded so much lower on wednesday's session. >>i don't know what it is but i'm not a hater of this stock james. let's move on to game stop with earnings coming out

today. what do you think about game stop? >>we saw a lot of out of the money call buying by institutional traders during tuesday and wednesday's trading session up through the april 41 and 42 lines and in the weeklies. now i have an upside target for game stop of $42 on earnings. i think they're going to report a good number. next generation consoles came out over this past quarter. it should be good business for gamestop. i think the stock heads higher on earnings. >>lululemon reporting in and there was a lot of negativity in the market. what's the buzz on this one? >>there was a lot of negativity in the market and it was showing on the tape. we saw some put buyers on wednesday betting on further downside in lululemon. we see a weak chart. the stock has sold off 3 out of the past 3 quarters on a bad earnings number. on a risk versus reward basis it sets up much better for me to be short lululemon through earnings than it does for me to be long. >>thank you james. coming up tomorrow --it's traders unplugged. find out why the guys are taking aim at target as a takeover candidate. from all of us at first business...thank you for watching.

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