the u.s. targets russian businesses with a new round of sanctions... in today's cover story....the serious side effects of a new deal developing in big pharma. plus....as rain drenches spring crops... one trader looks on the bright side... and.... how drones are starting to have a ripple effect on the job market! first business starts now! good morning! i'm angela miles. it's tuesday, april 29th. in today's first look: we are already off to a wild start to the trading week. the dow swiftly traded in a 187 point range yesterday. in the end the blue chips endedup 88 points. selling in biotech and tech sent the nasdaq lower by 2 and

the s&p added 6 points. gold lost 5 moving back below 13-hundred dollars an ounce and oil gained 29 cents. in earnings after hours, the container store missed, while herbalife came in better than expected. another drop in debt.the u.s. treasury expects to pay off $78 billion of debt in the third quarter, that's almost double to the earlier projection of $40 billion.and, reuters reports allergan is targeting biotech company shire in a potential takeover attempt. trader todd horwitz of average joe options.com joins us to prepare the way for this trading day. good morning to you. >>good morning angie. >>we have the fed ahead this week. what are you anticipating? any change in rates? any change in policy? >>i don't think there will be much change at all. i think that they'll continue the course knowing that they will backstop the market at any

chance they can. as we saw the action on monday, we saw the market way down and i think that somebody probably got a whiff that the fed would do something different. i think they stay the course and continue but the bottom line is that janet yellen has made it clear that she will back the market up anytime she needs to. >>are traders worried about the jobs number coming out on friday? >>i think traders may be thinking about the jobs number and what the reaction might be but really the now always comes back to the fed because the jobs we have seen over the past few months are not very good but still the market has managed to rally. >>the market is worried about this russia situation. are there any plays you're doing? are you shorting anything or buying anything? >>i'm looking to get short oil and the grain markets as soon as some of this trouble wears off. we're seeing a lot of fear premium, especially in oil. we are still in what we call backward ation oil so the front

month premium is so high. i think as soon as the troubles in russia resolve oil comes crashing down hard. >>thank you. good to have you on the show. >>thank you angie. sanctions that cut off business, freeze assets and ban travel are in place against 15 more russian government officials. that brings the total to 28 as the u.s. and europe attempt to get the president of russia to desclate the conflict in ukraine. i think the hope of the sanctions is that some of these guys are going to turn around to the friend vladimeir putin and say vlad, this is really hurting our business, can we scale it back a little bit. that's the scenario we hope will be affected by the sanctions. among businessmen targeted by sancations the president of the russan state oil company rosneft who has worked for putin since the early 1990's/carol saivetz a russian policy and researcher at mit tell us... it will take time to know if the sanctions are working.but there are signs the russian economy is slowing. chuck coppola joins us me this

morning.chuck--i'm sure bank of america investors will be hoping for a rebound in that stock today. bank of america admits to a "miscalculation" of how much capital it has on its books. shares plummeted 6% monday-- wiping out 10-billion dollars in market capitalization. and because of the bad math, the second-largest u-s bank says it's suspending its four- billion-dollar stock buyback as well as a planned increase in its quarterly dividend.at issue is how b-of-a calculated the value of structured notes after b-of-a's purchase of merrill lynch during the financial crisis in 2007. 3 u.s. based traders at british bank barclays face criminal charges in the libor rate rigging scandal. they become the first on american soil to become a part of the scandal to be charged by uk authorities. the 3 traders reportedly will stand before a london court next month. security flaws have aol and microsoft users on alert. microsoft is working to fix a

bug that has been discovered in versions 6 through 11 of its "internet explorer" browser. at aol -- a rise in "spoofed emails" has triggered an investigation. fake emails were sent to a "signficant amount" of aol users, and contain malicious links that compromise user data. aol says all users should change passwords and security answers. toyota is moving its sales headquarters from southern calfornia to texas. it's one of many changes by the automaker to save money after paying a $1.2 billion to fine to the justice department over a delayed recalls for fautly car parts including steering wheels and airbag. it's well documented texas governor rick perry has been making lucrative offers to california companies to move to texas. in japan---jet maker boeing is reportedly keeping japan within its supply chain.reuters reports boeing will build parts of its triple-7-x jet in japan with the help of two japanese manufacturers.the ties could help advance boeing's sales in the asian market.boeing reported earnings this week that beat expectations.the company lifted it's full year forecast. as the economy continues to

recover, job growth has been primarily in low-wage work. a new report from the national employment law project--- shows strong growth in the restaurant and food service industry, especially fast food chains, but relatively little job growth in middle-class professions. industries such as accounting and law shed 3.6 million jobs in the wake of the 2007 financial crisis, but only added 2.6 million positions in the recovery. low-wage industries lost 2 million positions but gained nearly 4 million. in today's cover story--the head of pfizer pharmaceuticals, ian read says there are clear tax advantages for pfizer if it acquires pharmaceutical company, astrazeneca.it's a strategy analysts say may be enticing for shareholders of both companies. pfizer's billion dollar bid for anglo-swedish drug-maker astrazeneca has boosted stock for both pharmaceutical giants. so far, pfizer's bid has reportedly been 70% in shares and 30% in cash. "astrazeneca has rejected pfizer's bids as too low. however, we think eventually, it will accept the bid."

conover says pfizer stands to gain a combination of drugs that help the immune system fight cancer. "this could be the big breakthrough product that leads astrazeneca's oncology franchise." there are also considerable tax advantages for pfizer. for one, pfizer's headquarters could be listed in the u-k. "the significance of moving the hq to another country is to bring down their overall tax rate." conover thinks pfizer could cut its tax rate from 27% currently 20% or lower by moving its headquarters and intellectual property to the u-k, where the government has tax breaks for income generated through patents.

as pfizer's ceo put it, "the united kingdom has created attractive incentives for companies to manufacture products and maintain and protect intellectual property, and we have seen that capital and jobs have followed these types of incentives. under british takeover rules, pfizer has until may 26th to make its bid or back away.astrazeneca has been revived under ceo pascal soriot and has reoganzied to cut costs---another enticement for potential takeover. a deal between two u.s. drug companies caused a pop in one of the stocks... shares of furiex pharamceuticals shot up... $23 monday as investors learned forest labs will spend $1.1 billion dollars to buy furiex. it will give forest labs acess to a broad line of treatements for gastrointestinal disease treatments.forest labs

however is being purchased by actavis-- which is based in ireland. put it in writing! judge steven rhodes has asked detroit's city officials to submit a final version of a document detailing the city's plan to exit bankruptcy, by friday. yesterday, detroit reached a temporary deal with 14 unions on a five year collective bargaining agreement.terms of the deal were not released. the union pacts are subject to ratification. new housing data is dropping hints about what's in store for the months ahead. pending home sales popped 3.4% in march after the long winter slowed the home buying process. "we've been anticipating a bit of a spring bounce, eventually. the data has been at pretty low levels for the last few months. so when you've had several months of low data its not

surprising to get a little bit of a bounce in response." that was danielle hale of the national association of realtors who says the organization expects a rise in sales for the next several months. while the data is better...it's still down 7.9% compared to a year ago. hale says that is due to a flurry of factors including price increases, rising mortgage rates, and lower inventory. overall the industry is expecting a 4.9 million homes sold this year versus 5.1 million last year. as part of its $45 billion bid to acquire time warner cable, comcast promises to divest more than a million of its pay tv subscribers. charter communications says it will buy 1.4 million of those customers for 7.3 billion dollars. it's a move to appease regulators, and part of a three-prong deal that ensures comcast's market share will stay below 30%.the deal will also see the much- smaller charter create a spin- off company in the midwest. pro football player vernon davis is in play in the ipo market. after gettting off to a rocky start, fantex "finally" launched shares of the san

francisco 49's tight end monday.all 421-thousand shares sold, raising $4.2 million at $10 per share.investors make money if the value of davis' future income exceeds $42 million. the risk is high including the possibility of injury. the nba will hold a press conference today to update its investigation into racist remarks allegedly made by los angeles clippers owner donald sterling. the financial fallout from those remarks is already underway. used car dealership car-max, state farm insurnace, kia motors america, virgin america airlines, aqua-hydrate and red bull have all pulled sponsorships of the team. yahoo sports is reporting that magic johnson, along with guggenheim partners, is interested in buying the clippers franchise. google's driverless car is zipping closer toward becoming an every day reality. the tech company found in a recent test-- the car can handle "thousand's of city situations" such as bicycle riders or pedestrians popping out of now- where. google's goal is to make driverless cars public by 2017.

still to come: as twitter stock gets sliced and diced ... what that means for its earnings day... plus....find out why drones are presenting a new career path for students. and...drown on the farm... why crop farmers are facing a major setback. stay with us!

farmers are falling behind in spring planting...as cold, rainy weather soaks corn fields. the latest numbers from the government show the top 5 corn producing states: iowa, illinois, nebraska, minnesota and indiana are all struggling to get seeds in the ground. joining us now is scott shellady-- ceo of bull reef brokerage at tjm. good morning to you and thanks for joining us right from the trading floor.

>>thank you. glad to be here. >>how serious is this? >>we have a meteorological word for it. what we call the weather we've been having lately is called spring. it happens every year. you'd be surprised at what the american farmer can do with the new technology that we have. we can do a lot in a week's time. don't get too nervous yet. >>i have a new wordit's called sprinter. that's when winter never really seems to end. i know that farmers don't like to complain about rain, but how late can we go? when will it be too late? >>i'd start to get nervous around may 10th. i think that's when we'll really start to see some degredation in yields. it doesn't mean we still can't have a big crop but it starts to take the top off. we'll get the crop in. my father has been doing this since 1962 and he's got a great linename me a year where we didn't plant corn? so everybody should relax. we'll get it in. the american farmer

is great and with the technology and type of equipment we have nowadays we can do almost 35% of the total crop in a week or week and a half. >>i'm hearing that when farmers can't get the corn seeds in, they can plant soybeans. is that correct? >>that gets too much play i think. you make plans and you put the right fertilizers on your field for what you're going to be planting in your field so it's not that easy to just go and switch. people do switch. but it's not as easy as guys think it is. you've bought your seeds already too a lot of times. so there's a drop dead day where you're kind of committed and it's not that easy to switch around. i think ultimately we're going to have more corn acres and more bean acres this year. right now you're going to get more chatter about guys trying to switch but it's not as easy as folks think it is. >>thanks for coming on the show. this is a big relief and i hope all goes well for the farmers.

we love them. thanks for coming on. >>thank you. a pig virus continues to kill tens of thousands of young pigs on u-s hog farms. the highly- contagious virus called p-e-d attacks piglets, causing dehydration. since june 20-13, p-e-d has killed 7 million pigs in the u- s. -- close to 10% of the population. as a result hog farms may wind up producing about two-percent less pork this year. hog futures are at record highs--along with prices at the meat counter---currently $3.83 a pound. coming up.... as high flying tech stocks tumble... one money manager says take your pick! and... drones are being called "the dawn of the new space age" .... bill moller explains how the average person can get it on the action, next!! i'afflec

and many actors have played the part of u.s. servicemen in the movies, but for veterans like james crosby their service and their sacrifice are real. and too often when they come home, their struggle continues. for over sixty years, paralyzed veterans of america has been fighting to help our injured veterans get the benefits they need, and have earned. paralyzed veterans of america was there for me when i came home. join me in supporting our paralyzed veterans. visit p-v-a dot org. we are quickly moving into the age of the dronethe unmanned aerial vehicle or uav. these camera bearing mini flying

platforms are being used in ever more creative ways as the faa is considering regulations governing their use. in fact a field of study is also growing around uav's. let's talk with dr. luis cifuentes. he's the interim director of a & m university's new loanstar unmanned systems center in corpus christi. why don't you tick off some of the drone based careers that students can actually pursue now? >>there are going to be tremendous careers for our students. people that are in engineering and computer science and geospatial science are going to be able to take those skills and apply them to this new industry. there are also going to be those individuals that might go to a 2 year school and learn how to operate and maintain these systems. we certainly think of this as a third kitty hawk moment in aviation and we are preparing to teach our students and educate our students in order to be able to provide the workforce for that new industry.

>>what's exciting about your center is that it's not just on computers and theoreticalthey actually go out and use these drones in real world applications. >>absolutely. if you look behind me you'll see that we have our rs16 and we've been flying that south of corpus christi looking at the maritime environment of padre island, looking at seagrass growth, looking at algoe blooms, looking at oil spills. there are a variety of different applications that you can use with unmanned aircraft systems or drones. it depends on what kind of sensor you want to put into them. so there is a whole new budding research field of putting sensors onto these platforms that our students are going to be able to get into. >>aeronauticsthat's another component to this. so what is the demand for drone science degrees these days? >>just in texas, it is anticipated that in the next 10 years there are going to be 4,000 direct jobs and 8,000 direct and indirect jobs. a lot

of those jobs are going to be technical jobs. so all of those people are going to have to be trained in one of these fields in order to be able to meet the requirement. >>and that's just in one state. dr. cifuentesthank you so much. >>thank you. thanks bill! find out next if drones will be a saving grace for amazon as the stock continues to tumble... and-- are twitter's best days gone forever. why the stock is falling out favor with investors. chart talk is next. 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.

and many actors have played the part of u.s. servicemen in the movies,

but for veterans like james crosby their service and their sacrifice are real. and too often when they come home, their struggle continues. for over sixty years, paralyzed veterans of america has been fighting to help our injured veterans get the benefits they need, and have earned. paralyzed veterans of america was there for me when i came home. join me in supporting our paralyzed veterans. visit p-v-a dot org. it's all about tech this morning with matt shapiropresident of mws capital. good morning matt. >>good morning angie. >>let's start with twitter. this stock has fallen out of favor with a lot of people i know in the options market. just

average joe traders have been buying puts heavily. they're looking for a downside move ahead of earnings. what do you think? >>they are now so skeptical after stampeding in the stock earlier in the year. can you believe this stock was as high as 70? >>i can't. it's almost sliced in half. >>rightnow back down to 40. now actually a market cap pretty much comparable to what facebook paid for whatsapp. i guess it came down to a level where people can start making a judgement. revenues are only expected to be about $250 million at best for this past quarter so that's why people have trouble with these kinds of valuations. they're certainly not expected to make money. >>the same situation with amazonthis stock has fallen out of favor. it fell another 3% in the market yesterday. but is this a different story matt? >>for me it is. everyone was just hoping they could get into

some of these phenom stocksfacebook, or the biotechs,or amazon. so now they're down and now they're here so take a look at which one you might like. for me, actually i do like amazon below 300. can you believe it has 100 thousand employees, it has massive revenues. i know everyone from the earnings report last week was disappointed that they're not going to put out those profits but it has a huge business. it's the next walmart. revenues grew by 20% and i know investors were not happy with the report that the didn't get the profits they wanted. for me, this is the one where i feel i can participate in something that's kind of internet bricks and mortar. >>amazon is also talking about using those drones which could be pretty cool. thanks for coming on the show this morning. >>thank you angie. it's closing time for today. coming tomorrow... join us some financial spring cleaning.the best part? no need for a broom or a mop.but hopefully your savings will sparkle. from all of us at first business...thank you for watching.

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