for "nightly business report," jane wells, california. >>> we've seen jane a lot of stories, i think this tops it all. >> my neck hurts watching that. that is a recipe for whiplash. wow. that does look like fun. >> pay $100,000 for one? >> looks like swimming with the fish in a dolphin. >>> coming up next week on ni t "nightly business report" a special series on long-term care. we'll explore all the issues surrounding long-term care next week right here on "nightly business report." that's it for "nightly business report" tonight. have a great weekend everyone. >> and a busy week ahead. we hope you join us next week. i'm tyler mathisen. thanks for being with us and have a wonderful weekend, everybody. see you on monday. >>> "nightly business report" has been brought to you by sailing through the heart of historic cities and landscapes on a river, you get close to iconic landmarks, to local life, to cultural treasures. viking river cruises, exploring the world in comfort.

jane wells goes inside the java warps. >> reporter: americans take their cup of joe seriously. >> i prefer dunkin donuts because the price is reasonable and the taste is great. >> i don't like dunkin donuts at all, i like starbucks. >> reporter: when it comes to coffee, there is no middle ground. >> star bucks taste better. >> starbucks is too expensive and i can't pronounce anything on the menu. >> reporter: big picture, the world is swimming in java when you get to the picture it's not a big deal in a small state. in hawaii there is a pest called the coffee berry bore that is costing farms. so the usda is spending a million dollars to try to fight the pest. still, consumers should not see much impact in pricing and a lot of attention paid to what is happening with coffee in the grocery store. k-cup sales are up 20% from a yore ago as prices fall and bagged coffee sales are seeing lower priced competition. >> a rich, never bitter taste cup after cup. >> reporter: givola seen sales more than double, perhaps helped by a sexy new ad campaign but as major retailers support earnings this week,

amazon bought the do main name. >> i like jane wells had bacon and/ oreo cookies in the order. it's about a 1.5% margin. it's a very, very tough competitive business. >> i like going down the isles -- >> i do, too. >> and smelling the fruit before i buy it. that's nig"nightly business re " report." i'm susie gharib thanks for joining us. >> and i'm tyler mathisen. everybody have a great evening and we'll see you here tomorrow. >>> "nightly business report" has been brought to you by. >> sailing through the heart of historic cities and landscapes on a river, you get close to iconic landmarks, to local life, to cultural treasures. viking river cruises, exploring the world in comfort. >>> welcome to "newsline." it's friday, july 26th. i'm catherine kobayashi in tokyo. >>> investigators are trying to determine the cause of spain's worst rail accident in decades. at least 80 people were killed after the train rounded a curve and jumped off of the tracks.

jane wells tells us why gasoline costs are on the rise and how long we might be paying for more at the pump. >> the u.s. is in the middle of an oil boom. you wouldn't know it looking at gas prices. >> gas is more expensive than milk is right now, it's a little crazy. >> it sucks, but it is what it is. >> it's a 14 cent a gallon jump in one week, according to aaa, to an average of $3.61 a gallon, with more to come. >> gas prices in pretty much every state except for three are moving higher right now over the last week. with crude oil prices and wholesale gasoline prices increasing as well. it's likely gasoline prices may continue to increase over the next several days and possibly the next couple weeks. >> why? two main reasons, uncertainty in egypt a jump in demand. even more than usual for the summer driving season. >> what we're seeing right now certainly is not the norm for the summer driving season. in recent years there hasn't been much of a norm when it comes to prices in the summer anyway, they've been all over the place. >> like housing, gas is all about location, location, loc

jane wells, los angeles. >>> and coming up on the program, the one-year anniversary of yahoo's new ceo marissia mayer. this past year is anything but dull and we'll look how the company changed and the challenges ahead. >>> first how commodities, currencies and treasuries performed today. >>> marissia myer is experiencing with invasions at yahoo and stirred up controversy. she's been one of the most watched ceos and as her one-year anniversary approaches, we'll hear many reviews on her performance. so how is she doing? jon fortt takes a look. >> reporter: it had the makes of a no-win situation. the super star was swooping in trying to save the bad news bears of tech but somehow it looks like marissia myer is pulling it off. a year into her stint at yahoo ceo the stock is up 72%. not because of some dramatic business turn around. the genius of mier's first year is she's taken a mediocre hand and played it almost flawlessly, creating a vision, setting ex piece takes low and generating the right headlines at the right times. the year had challenges. right off the bat she announced she was

amazon bought the do main name. >> i like jane wells had bacon and/ oreo cookies in the order. it's about a 1.5% margin. it's a very, very tough competitive business. >> i like going down the isles -- >> i do, too. >> and smelling the fruit before i buy it. that's nig"nightly business re " report." i'm susie gharib thanks for joining us. >> and i'm tyler mathisen. everybody have a great evening and we'll see you here tomorrow. >>> "nightly business report" has been brought to you by. >> sailing through the heart of historic cities and landscapes on a river, you get close to iconic landmarks, to local life, to cultural treasures. viking river cruises, exploring the world in comfort. kevin: today on "ask this old house"... my wife and i have this tiny yard, and we'd love to make it into a patio. i don't know what to do. i'll show you the right way to install a stone patio. it's plastic sheet in a circle, and it gets a lot bigger. what is it? i'm going to store five bikes in this one-car garage without a scratch. we have so much more space now in our garage. kevin: that's next on

we'll also check in on how jane wells' eggs are cookin', as well. >>> hi, everybody. happy monday. rally mode once again. >> beginning the second half on a positive note here. i'm bill griffeth. we are kicking off with green arrows. the dow was up 174 points at the high today. and it's come off that high right now. i should point out we've been mindful of what's going on in egypt where hundreds of thousands of protesters are still gathered -- >> wow, look at that show. >> -- in cairo, in

jane wells has more. >> reporter: here is what to watch for in the defense sector in the quarter ahead. pentagon cuts are slowly nipping away at contracts, so expect companies to update international plans. they think ex perpts can reach 30% of total sales, united technology says it could account for half. competing for multi billion-dollar jet fighter contracts in brazil and south korea but deloit says they are transitioning to more affordable high tech, software and sensors rather than ships and tanks, even so, but where. the last quarter nearly every major defense company beat expectations and some even raised guidance. for "nightly business report," i'm jane wells. >>> coming up on the program, we'll check out what might be in store for stocks and bonds, but first, oil right at the psychological 100-dollar level. an expensive quarter in the oil business and what could it mean at the gas pump? the outlook coming up next. >>> oil prices have been hoovering around $100 a barrel for sometime now and gasoline prices are around $3.50 but with summer driving and hurricane season upon us,

i want to totally honest about that. >> reporter: ha ha. >> who has a better job better than jane wellsyou very much. love it. thank you for watching "street signs." free seabreachers for everybody that watches the show tomorrow. not true. "closing bell" starts tomorrow. >>> hey, welcome to "closing bell." i'm bill griffeth here at the new york stock exchange. >> i'm kelly evans in for maria bartiromo. >> happy monday. >> indeed, especially with what's happening in the markets. not huge moves on the indexes. it could still be enough for new all-time highs for the dow and for the s&p, bill. >> mcdonald's is the big drag today for the dow, taking about 19 points out of the dow with that earnings report. we'll talk more about that coming up a little later. by the way, we're on royal baby watch. >> yes, yes, we are. >> former london

we want to go live to jane wells at a gas lease station in southern california. . >> reporter: hey, maria, and aaa says the national average is $3.61. it's not herement but that's up 14 cents in a week. and they're saying things like lower inventories and expected higher demand, turmoil in egypt, are some of the reasons. now, if you look at housing, we call it location, location, location, it turns out gas prices are kind of the same thing. take a look. red and blue states mean something very different when you look at the heat map. red means prices are close to $4. yes, where i am, california, suddenly a red state. >> gas is more expensive than milk is now, and it's a little crazy. >> life is not always peaches and cream. you have to adjust. >> july 17th of 2008 we reached our all-time high of $4.11 for a national average. so while prices are higher, they're still 50 cents less than that all-time high. >> reporter: all right. well, look here. gasoline futures taking a breather today. if you can consider a few 10,000ths of a cent down, hey, it's down. and we could

jane wells is live in california where as per usual the drivers will really bear the brunt, right? >> reporter: yeah. mandy, we're already paying about 20 cents a gallon higher than a year ago and they would have a quick run-up. analysts say it will get worse before it gets better, and they are watching a report, waiting for it on wednesday from the government to see if there's another surprise, a drawdown in inventories. that means higher demand and that and unrest in egypt are the causes of this unexpected run-up which could, again, add as you say, 10 to 20 cents more. people have been tweeting me pictures of gas prices. the lundberg survey says the cheapest gas is charleston, south carolina and 3.31 in myrtle beach. higher in columbus, ohio and my favorite, a pic outside chicago, 4.29, that's higher than here and none of it is good when you drive for a living like danny acope i acopian. how much gas do you buy weekly? >> $500, 600, sometimes i don't want to drive because of the gas prices. >> reporter: but you drive for a living? >> yes. why i have no choice. >> reporter: gasbud

jane well, with starbucks, jane, what do you know? >> hi w, maria. ant introducing fiscal year 2014, expecting a revenue growth of approximately 10 to 13%. street was looking for 12%. covers that range. mid single range digit comp growth. still mid single digit. and it is expecting aesh earnings per share in 255 to 265 and street currently had 264. really at upper end of that range. this is the first guidance we are getting for 2014 for the company. back to you. >> thank you so much, jane. earnings coming out fast and furious. skpe expedia on deck. josh, what can you tell us? >> disappointing. 64 cents, on revenue of 1.21 billion. the street was looking for 79 cents on 1.26 billion. you can see the stock down hard in the after hours. company saying they knew they were facing second quarter head winds and those which we expect as well as some we didn't materialize. that stock hit hard in after hours. >> thank you very much. we are talking markets with heather, ben and frank. frank, let me get your opinion in terms of investor psychology. you what do y

back to you, sue. >> thank you very much, diana, and thank you to phil and jane as well.oint, although there are some hopeful signs which phil gave us, it's really clear, ty, there's a lot of economic pain in the country right now. >> absolutely the case, and a lot of economists who tell us more and more we're becoming a country with basically two economies, so our question today in this half hour is how sustainable in the long term is that because we're all part of the same economy really when you get right down to t.former chairman of the federal reserve, sue, alan greenspan, warned about this several times while he was in office. in 2007 he said, quote, income inequality is where the capitalist system is most vulnerable. you can't have the capitalist system if an increasing number of people think it is unjust. next on this special half hour edition of "power lunch," two economists with answers on what will happen to the stock market and to the social fabric if the great divide divides the country even further. plus, you can't have a show like this but the our senior ec

back to you. >> jane wells, thank you very much for that report. and we will now let you bicycle home. joining us now, founding partner of gain capital and patrickgasb. why is gas back to this level? >> it's the litany of reasons starting with the main focal point that everybody is aware of, egypt and the middle east situation. but now that there is oil involved, there has been outages, real outages in northern iraq, in libya, and the sanctions on iran i think people are ignoring as well keeping about a million barrels a day off the market. >> there is another reason, too. you know how we like to bash the wall street speculators? guess, what wall street is speculating on higher oil prices in a big way, are they not? >> yes, they are. and it's based on a lot of the shift in the fundamentals. where we've seen a very strong demand for crude oil. we're pushing more crude oil through u.s. refineries now than we have in six years. in fact the demand in the gulf coast is at an all-time high. wall street has recognized this over the past couple of months,

jane wells on the case. jane? >> reporter: tyler, nascar alcohol helps fuel cars, runs in the veins of many fans so at the brickyard 400 at indianapolis speedway, a pro-marijuana group decided to stir the post with this commercial posted on a billboard near the track. >> marijuana, less harmful than alcohol and time to treat it that way. >> reporter: marijuana policy project put the ad up in a state where medical pot remains illegal hoping over half a million racing fans were see it. >> this is really just a way to get people thinking about it. if a new beer came out that had no calories and didn't cause hangovers and didn't result in poem getting rowdy and potentially violent, it would be welcomed. >> it shocked the hell out of me. >> reporter: mike placed the ads on the billboard and said it s was -- said he had no idea it was about pot. nascar fans took it in stride. >> this is supposed to be a family occasion. >> maybe they should legalize it and tax it and make more money off of that. >> people don't get stup

jane wells in los angeles. >> reporter: hi, the f-16s made by lockheed.re looking at what some are calling a game changer. had will take off and land and land on the carrier sometimes in the next hour and be trapped, the first to iman unmanned carrier will land on an aircraft carrier. budget cuts led to its demise but based on its ability it will also carry weapons. northrup is expected to compete along with privately held aeronautical systems. it's pre-capped and run by a computer throw a computer ultimate mehmet ali controls it cutting down on the immediate for the navy to have extra drone pilots on look at the guy holding what looks like an arm brace. moves the x-47 around on deck and see how the flight deck crew, the crew signals the x-47 as if there's a pilot inside, same as it would in the aircraft but the guy with the arm brace, keep you posted on whether it's successful. more on what this means to the navy's future right now on cnbc.com. guys? >> my next guest is sitting here saying that's so totally cool the way they do that. >> new york city's e

nice segue into our next segment, jane wells.uld help fight obesity, and here's today mystery number. 13.8 billion. we'll give you a dollar if you can guess what that number means. that's a hint, not a bet no. cash bay pout. there's your mystery number. one guy already got it. he's smart. [ engine revving ] ♪ [ male announcer ] it's a golden opportunity to discover the heart-pounding exhilaration beyond the engineering. ♪ come to the golden opportunity sales event to experience the precision handling of the lexus performance vehicles, including the gs and all-new is. ♪ this is the pursuit of perfection. a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choosing fidelity. now get 200 free tr

jane wells has the details. jane?fficials last week put a potential ten year limit on the current location. what do guys back east do when they want to seek fame and fortune? they come to california. >> i spent a couple days in the forum club one night. >> chris and the forum with three concerts in january when it happens. this is a place where every major rock act over three decades performed but the music died, sports teams moved away in 99. now msg fresh off its billion dollar make over has come to l.a. to take over the powerhouse. the ceo thinks there is enough music business for everyone. >> why the forum? >> why not? what an opportunity. the second biggest market in the world. the biggest entertainment in the world under served with an iconic venue that fell in disrepair. >> this was the holy grail. besides it was a great sounding room, i don't know exactly how to explain it. it just sounds good. it feels good. it's intimate despite its size. >> now, the company says the economic impact of this could be $1.4 bil

jane wells has that part of the story for us and is live in las vegas. janie. >> reporter: hey, sue, one heat-related death here, an elderly resident who didn't have air conditioning. there's a high heat warning here through friday, thursday night into friday. the temps here should reach 113, cooler than yesterday's record-tying 117 and in phoenix it was even hotter, 119. so hot u.s. airways cancelled some commuter flights. they weren't sure if the air was dense enough to provide lift for some regional jets. hot air means less density and hottest of all, death vale, 129 degrees, hottest june day on record there, but here in sin city so far it doesn't seem to matter. >> viva, viva las vegas. >> reporter: tourists are out. wynn resorts says it was nearly sold out and mgm only noticing a hit at the business at the pools because it was too hot. >> ordinarily in my white outfit or we go black outfit but any time it gets to 110 i try to be like bahama elvis or hawaii elv elvis. >> reporter: will you go inside at a certain point? >> probably this afternoon, 3:0

back to you. >> jane wells, thank you very much for the report.utcome that have is. meantime, listen to this. the song playing right now, 1983's "one thing leads to another." >> by the way, sis, do you know what the album was called? >> "reach the beach." >> and the guy was like this coming out of the water. >> okay. on deck, we'll head to the bargain bin because our friends are calling out a couple of sub ten buck stocks you may want to look at. >> roads crumbling, bridges falling down and the rent is just too damn high. new yorkers shelling out more than ever for their largely rodent-infested closet-sized apartments. but first, bill griffith, what's coming up on the "closing bell"? >> so many things to tell you about. some lawmakers are pushing to eliminate the mortgage interest deduction. say it ain't so but hear from somebody who says contrary to popular belief it will not end up hurting the hot housing market. you were highlighting hewlett-packard, up an astounding 80%. we'll look at the charts to see whether this stock has more room to rally

jane wells there in california. okay, it's a very busy week for corporate reports. we're kicking high into earnings city. citi coming out with figures, profits at the financial giant surging. you can see where the stock is $51.88. adjusted rises to $1.25 a share. comfortably beat analyst estimates and stronger home prices helping to lower costs on mortgages and trading revenue also rebounding. revenue rose 8% from a year ago to $20 billion. topping expectations. breaking it down revenue from fixed income rose 18% while equity market revenue rose 68%. citigroup's net credit losses declined to 6.61 billion as house prices lifted the value of home mortgage assets that the company has held since the financial crisis. checking out citi shares this year, the stock is up a whopping 31%. >>> and the last few years, as you probably know, goldman sachs has had more than one or two bruises. one of the first names to bring on the public beatings was fabrice taure. fabulous fab as he's known is in court today and mary thompson is live in new york with the story for us. mar? >> r

for nightly business report, jane wells, las vegas. >>> still ahead, would you buy an expensive piecef art online. amazon is making a bet you will. first, a look at some stocks that hit all time highs. >>> the dual over dell has entered a new chapter. dell's board says its special committee has reviewed carl icon's latest proposal. ikon has secured financing in hopes of trumping michael dell's planned buyout of the pc maker. >>> tonight's focus begins with a pair of upgrades. best buy left for dead not so long ago. credit suisse resumed coverage with an outperform rating. best buy has more than doubled since november, and closed up more than 8.5% on double the normal volume. >>> morgan stanley upgraded pandora to overweight. pandora is one of the top internet properties and investors seem to agree. shares trading at three times normal volume today. pandora hit an all time high before closing at 18.95, up almost 3%, another stock that has doubled year to date. >>> disney gained today as well. on the strength of monsters university. it was the box office winner for a second week in a ro

as jane wells shows us, the business of private airplane ownership is taking off fast. >> we only need a 40 foot hanger to put it in. >> reporter: the private airplane business appears to be taking off. >> i've been looking at planes for a year and i have my pilot license so i want to get the plane i'll fly. >> we have the biggest backlog that we've had since 2007. >> reporter: general aviation can run from $130,000 to 6 million. sales went to $19 billion. >> we went through pretty difficult years, but cirus is innovative. we've not sat continuing to build the airplane the same way five or six years ago. >> reporter: two years ago the keeping it is another. >> we see about 30,000 recreational airplanes from small jets to cubs coming out of the system in the next five years because of cost and fuel and other things. >> reporter: add to that hopes by the president to reduce tax breaks for private plane's use for business and the flight plan for growth could hit turbulence, just as it was starting to regain altitude. >>> and finally tonight, the statute of liberty closed since super storm

jane wells live at cnbc's los angeles bureau with news before the bell. good morning. >> reporter: futures are higher after stocks ended mixed tuesday. investors paying attention as the fed wraps up the meeting on potential clues when the government will pull back money. our first glance at second quarter gdp which may show the economy slowed this spring. the dow slipping one point to 15520. nasdaq rising 17, 3616. still a way from its all-time high over 5,000 in march 2000. ford will start selling a natural gas version of the f-150 pickup, the first u.s. automaker to off that in a light-duty track. factory installed valves, pistons and rings to handle natural gas and gasoline. buyers have to put in new fuel tanks, lines and injectors and could cost an extra $95. worth it? the price of nat gas averaging $2.11 a gallon, cheaper than gasoline, at least for now. small business getting a chance to suit up for the super bowl. intuit is launching a contest today to award one firm a 30-second ad in february's big game. commercial will air in the third quarter, c

diana olick in the house and jane wells all over these stories. >> spring apparently did sprung, if youcan say it that way for housing. what's ahead for the next half of the year? we'll have the numbers. jane? >> diana, what sequester? lockheed surprises the street and maybe even itself. we'll have those numbers after the break. golden opportunity sat and experience the connectivity of the available lexus enform, including the es and rx. ♪ this is the pursuit of perfection. [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪ [ agent smith ] ge software connects patients to nurses to the right machines while dramatically reducing waiting time. [ telephone ringing ] now a waiting room is just a room. [ static warbles ] yeah... try new alka seltzer fruit chews. they work fast on heartburn and taste awesome. these are good. told ya! i'm feeling better already. [ male announcer ] new alka seltzer fruits chews. enjoy the relief! the most free research reports, customizable charts, powerful screening tools, and guaranteed 1-second trades. and at the cente

jane wells has the story. >> i spent a couple days one night. >> nothing says classic california one night like the eagles and nothing says rock concerts like the forum. but the once fabulous forum is nearly as bad as the original in rome but men from the east have come to make it shine again. >> we'll make the forum a place where great performers will put on great shows. >> reporter:ed the madison squaur garden company is redoing the forum in inglewood. why the forum? >> why not the forum. what an opportunity. the second biggest industry in the world under served with iconic venue. >> reporter: built in 1967 this is where jerry west played, show time with magic and koreem, and more. next january the eagles will stage three shows. >> this is only short of the holy grail, you know, for us in los angeles and it was a great-sounding room. i don't know how to explain it. it feels good. sounds good. it's intimate. >> reporter: the stadium business is tough. bankrupt detroit is selling bonds to build a venue for the red wings. washington wants to build a soccer stadium and for msg, it's sp

tavis: jane? >> well, we didn't live this -- a book and a movie. i don't know what -- as a black man, what do you think? >> should she not have done it? tavis: no, but these are the kinds of questions, though. that's a legitimate question. should she not have done it? of course, she should have done it. is jane right about the fact that if you've got love, give it? absolutely. >> maybe more black people should reach out -- tavis: absolutely. >> maybe they do because we don't know about it because independent doesn't end up in a book. >> my uncle was an example of that. there's something i read oh, i'll so sick of that story of that white woman. it was basically saying leif her in a dysfunctional abusive situation and see if she sinks or swims. it's about love, someone helping another person. i don't know if we'll get past this race thing but if that's the first thing you focus on, you look at the race of the person who helps you, i don't know -- tavis: i wanted to capture it. my first saying is that i absolutely love the story. the critique is more