josh brown? >> josh has to take the other side. >> no, too many shorts in the name. and i think the next two points are more likely to be higher than lower. >> not only am i not taking the only side, i will pay a compliment to all those who owned the debt, bought the debt, the marc lasrys of the world, that proved the trade in jcpenney. >> gilead cutting the price of a drug. >> they handle over a billion prescriptions annually. a very expensive drug. they talk about 2013. 14% elevated on prices. in 2016, looking at over 60%. there's a reason there's pressure on now. i think express scripts is the better trade over gilead. >> first solar, one of the best performing stocks in the s&p. over 25% over the last month. josh brown? >> this is one of best looking stocks, if not the best looking stock in the entire market right now. this thing is up 20% since march 6th when the nasdaq peaked and is down by 6%. forward p.e. is still under 15. ge owns a piece of the property. i would be all over the stock he

. >>> josh brown, back to the markets here. i mentioned commodities having their best quarter in some 18 months. largely a soft commodity driven move here. what are you expectations? >> i think this is the beginning of a new bull market. not a lot of people have focused on. the agricultural commodity story is going to be investable and tradable throughout 2013. i want to call your attention to the fact that it's not just commodities that have led so far this year. the softs have been the story. live -- excuse me. cattle, you look at hog bellies, you look at things that are up between 20 and 50% depending on which of the softs you want to focus on. the dva is the most popular publicly traded etf. i want to focus on the equity side of that trade, scott. i want to call your attention to the ticker symbol moo. the inging e ing ing agri busin. this is involved in the ag tradtrad trade. [ mooing ] >> i'll let that run the course and then i'll continue. >> copper, for example, has been crushed. it really is the softs that have driven

. >> josh brown, is that how this thing is going to play out? we can accept this move higher in rates because the economy is getting better? >> i agree with stephanie for the most part. we looked at the data. history suggests that there have been massive bull markets that have coincided with slowly ri risiris rising interest rates. 1950s and 1960s come to mind. there wasn't a single massive bear market during either of those two decades. and so i think it's very, very possible that you can have good stocks, correlated with slowly rising rates. i want to give you a caveat. interest rates act upon pe multiples in the end like gravity. the higher multiple stocks will succumb the hardest. they will be the biggest casualties when rates get to be too high. you might ask, how high is too high? unfortunately there is no level. but what i would suggest to you is that the rotation into lower multiple stocks we're seeing in tech, we're seeing in health care is because a lot of people understand this and they have the same idea and that's why the momentum t

i want to get josh brown back in the game here. obviously, we talked about netflix yesterday here. results, investors liked them. what did you hear from the results, what do you like or dislike about them? >> well, i think, you know, the crucial thing that the street was watching for was any kind of marked slowdown in subgrowth, and that's not what happened, number one. and then, let's go back to that international operations. the big bomb that they dropped on the street in 2011 that almost cut the stock in half in just a matter of days was that they were going to make this huge investment overseas. and with good reason, there was a lot of skepticism. the fact the operations are poised to turn profitable gives you good reason to say, hey, this thing should have retraced that entire loss and then some. as far as the stock being cheap and the debate over valuation, it hasn't been a cheap stock since 2003, 11 years ago. at a certain point, valuations will become way more concerning, and i think the stock price will tell you. but in the

i still don't really like that concept. >> jordan, josh brown. why are we valuing apple as only a hardware company but we value amazon as a content play? is that fair? >> we don't value amazon as content play at although i think they're an excellent resaler in media. >> you're not going to value it ever as hardware. but if amazon is increasingly going down this road, whether it's the -- whether it's, you know, content for video streaming or for gaming or whatever the case may be, at a certain point is the itunes store worth a lot more to apple's market cap or does the multiple on amazon come down as people realize, hey, it's just new ways to distribute content? >> well, remember, the numbers tell us slightly different story. let me fill in a little bit. they do over $100 billion of merchandise volume. most of that has nothing to do with tvs. most of that has nothing to do with streaming devices and such. >> right. >> second, that's growing still very quickly. over 20%. that gains a lot of share over time. and it diversifies. the egm, electronics

pete na jair jjariannajarian, s josh brown. the nasdaq the biggest loser closing down 1.75%. internet stocks getting burned. amazon down nearly 10% after last night's disappointing conference call. facebook, netflix, pandora, all getting hammered. price action not good considering we basically closed the session low. >> facebook surprised me. amazon i thought did a good job. both hands sell it. if the stock was trading around $400, the stock would be down $35. lo and behold, that's what it wound up doing today. facebook, i thought the quarter in facebook was fine. i know petey probably stepped in a little today. i was really surprised at how poorly facebook traded because that's traded worse than amazon over the last couple days. in terms of levels, i'll say it again, we said it at the beginning of the month, that 1834 would come into play towards the end of april and guess what? it's getting close. it's imperative if you're bullish for the s&p to close above 1834. >> it really kind of started with amazon. as that started to roll over, we really watched everything from twitte

josh brown, to you first. yesterday was a nasty, nasty day. and as i said to simon and kayla, any pockets of strength are quickly being sold into. >> yeah, i think what happened wednesday, scott, to bring it back a little bit, was a countertrend rally. we've been in a downtrend, and wednesday's strength caught a lot of people off guard, and then some people tried to craft a narrative out of it, and then yesterday, of course, they had a reason to sell it back off again. today's news is not any better. jpmorgan is at the january lows, sitting on the 200-day. i want to point out the nasdaq. that's what every trader is fixated on now, and rightly so. off about 7% on the year, doing its best, fighting really hard to get us to like it. maybe trying too hard. kind of like ann hathaway. no one will like this -- [ laughter ] -- i have to tell you, when you look at the percentage of nasdaq stocks below the 200-day moving average, it's 48%. that means half the market on the nasdaq is in a defined downtrend, and that's going to make for some really stuff

today's starting lineup, josh brown, pete najarian and anthony scaramouche. let's get to seema at the nasdaq with what is leading the market lower. class the joint up a bit for us, seema, please. >> absolutely. brian, what a difference one day can make. yesterday, thanks to upbeat earnings from apple and facebook, we saw broad-based gains across the technology sector. you name it -- hardware, software, social media. those are the stocks that helped the nasdaq outperform the major indexes. but today, a complete reversal. a lot of this has to do with what we saw from amazon. amazon's disappointing results weighing on the nasdaq down. keep in mind, many times we see amazon shares move to the downside after reporting. last quarter, shares were down 11% the day after reporting earnings. so just something to keep in mind. lastly, we're not done talking about the momentum stocks. all those stocks trading to the downside right no. we're looking at facebook, netflix, among others, moving to the downside. and then, you take a look at social media player twitter. twitte

josh brown bought the stock yesterday. why? in my opinion one of the most exciting specials situation areas to invest for this year. want to make it really simple. this is a company that makes rail cars prominently oil tanker cars are what we want to talk about today. so much of this whole shale book happening in montana and the dakotas requires updated rail cars. the old ones can't carry shale crude oil because it's much more gaseous, you have derailments, have accidents. for a host of reasons, we started to see the rules being rewritten. this morning, the canadian government came out. they put out their new mandates for what rail cars need to be. there were only, like, five companies that make these things and only four of them are independently public. trinity is a food ogood one, tr. my favorite is green briar. buy this closer to 50 or under if possible. stock has been up much higher. >> what's the buffett connection? >> the buffett connection is this, berkshire hathaway earns the burlington northern san jose. pulling barre

josh brown is the bull, mike murphy the bear. 90 seconds on the clock. first. >> scott, this is one of the best growth stories in the entire sector right now. i'm going to make this really simple. you have a $5.8 billion market cap. the stock yields 2%. about 10,000 -- about 10,000 stores internationally, 7,000 in the u.s. but 50% of the stores are still in the northeast. they are going to take the western half of the country by storm. and as jane mentioned, the franchisees do the heavy lifting. dunkin' has very low capital spending requirements, incredible margins, double the margins of starbucks, but they're trading at the same multiple. i have to tell you, this is a business that right now is growing at a 15% earnings run rate. it's very hard to find in the qsr space. most of the companies are trading closer to 10%. so it deserves the slight premium multiple, technically looks fantastic. i think if you have a year or two, this is a $100 stock. >> so i look at this -- josh makes good points. if dunkin' does go out to california and take them by storm,

but we're not in crazy territory yet. >> it's josh brown. of at least an example of a central bank orchestrating a soft landing after being incredibly easy for the amount of time that our fed, for example, has been? can you think of an example where we didn't blow up the economy eventually? is it destined to happen or can we actually avoid the most vicious version of a business cycle and just have a run of the mill slowed down recession recovery? >> i think the real economy is in very good shape. if the fed were to pull back without the real economy being in good shape, then yeah, we'd be set up to crash. but we're not. we have a very solid real economy and we have a growing recovery. >> this is carol roth. i want to talk to you about what the empirical evidence is for this really solid recovery and growing economy. a lot of people are still unemployed, a lot of people underemployed, a lot of people are feeling the pressure. i feel like there is a bifurcation in the consumer where there are the haves that have been doing very well and they'v

. >> and josh brown, by the way, a frequent guest, second reference, does like the stock, too.e's my problem with it. it was always occi's ceo. do you feel the company is a misuser of capital in any way? >> when you look at their commitment and how that's come back to shareholders. >> there's no question -- they're moving through that, and they're getting good things on track, making some changes, and again some of that is coming back to shareholders, both through their dividend increase as well as their share buyback, so that's very positive for shareholders. robert, i want to focus on your high flyer. this one has taken some beating, so when we're talking about amazon, how long have you been in amazon, have you added with this market pullback? >> yeah, melissa, we actually just initiated a position in amazon last week we have not owned is the stock up until this then. every time the stock is build back technically, it's been a buying opportunity since 2009. jeff bezos we think is one of the best ceos, they just increased amazon prime by 25%, which we they will be accretive so

john is at number two, josh brown rounding out the top three.can track all the moves our traders make and their performance by going to cnbc. m cnbc.co cnbc.com/2013 harsh playbook d and #playbook playoffs. >>> coming up, netflix playbook. is the move a day late and dollar short? >>> pete spotting unusual activities he will tell us about next. [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. i'm taking off, but, uh, don't worry. i'm gonna leave the tv on for you. and if anything happens, don't forget about the new xfinity my account app. you can troubleshoot technical issues here. if yo

you're listening to one of josh brown's favorite songs of 25 years ago. t wait to talk to josh about that. >>> time for the "trader blitz." three trades on three stocks. first up, the fidelity contra fund announced it's reduced its exposure to biotech and entered tesla. >> face a big move. >> contra fund's had good numbers. i looked before we came on air. i disagree. i don't think there's a correlation. tesla should bounce high, egregiously overvalued still. i think the big-cap biotech is the place to be. i'd stay away from small-cap biotech. >> okay. sandisk, spiking today after reporting first-quarter earnings up 71% from a year ago. pete? >> gross margins, killed them on those. the revenues, earnings per share, every single metric, even at these levels, the stock trades way too cheap. the ssds, up 60-plus-percent. this is a company that's moving in the right direction, like qualcomm. i think they both have plenty of room to the upside. >> baker hughes, speaking of upside, is up sharply today after reporting a surge in revenue. the stock, by the way, is

josh brown, you go down the list of the nasdaq stocks that are getting hammered today. amazon, netflix, google, facebook, yahoo! expedia, on and on and on. >> i'll do you one better. rehn sansz etf index is down 8% the last couple weeks. i agree with cramer. there's way too much supply hitting the market. completely indiscriminate. >> four more ipos today including grubhub. >> correct. you have rubber mascots roaming the floor of the new york stock exchange. people dressed up as sandwiches today. fruits and vegetables last week. it's a joke. the way you want to think about it is supply. institutions, it's enough. we have enough new deals, enough stock. it's $11 billion between 64 companies that have become public in the first quarter of this year. that's double the run rate as first quarter of 2013 and the highest total since the year 2000. if you want to be constructive on the markets you want to see ipo activity but you don't want to see it double year over year. i think jim is right. >> pete, how do you view this? how is this potentially going to impact the broader m

. >> josh brown? you have a thought? really exciting to watch someone like carl icahn have this kind of late, late career renaissance, and as you mentioned in the interview, really at an age where he doesn't have to do this anymore. it goes to show that when you're passionate about something, there really aren't limitations, and the fact he can outperform his younger self right now, it's just -- it breaks all of the rules that we've been conditioned to expect about active management, about professional investing, so it's a totally fascinating thing. and you can count on maybe one hand other guys that belong in the same strata. >> it's become an interesting story today, on word that whoever believed that this could happen, and maybe even this soon, but that icahn and ackman have apparently made nice. they've mended fences from that day, what, january 25th, you know, more than a year ago, that they battled on this show. they've now made peace. i've spoken with both. they did have a conversation, and they have made peace. >

. >> josh brown? >> can't believe nobody is talking about this. john deere breakout. >> that does it for us. have a great rest of the day. "power lunch" starts now. >>> it was a brawl that stopped trading on the new york stock exchange. you saw it right here on "power lunch." >> i believe the markets are rigged. there you go. i also think that you are a part of the rigging. if you want to do this, let's do this. >> at the heart of the matter, the future of global trading. >> shame on both of you for falsely accusing literally thousands of people and possibly scaring millions of investors in an effort to promote a business model. >> both sides have a lot at stake. how does high frequency trading really work? where are the regulators? and what does it all mean for the small investor? "power lunch" begins right now. >> welcome to "power lunch." at the nyse stocks are sitting at record highs but as we saw, it was quite a battle 24 hours ago right here at the nyse. >> it most certainly was. we push ahead today on this big debate on high frequency tradi

. >> josh brown, what have you got? >> agriculture etf. m.o.o. >> first day of this second quarter is under way. good one it is. michael lewis is coming up on "power lunch." >>> we welcome you to "power lunch." i'm sue herrerra. >> our guest this hour is michael lewis, author of the new book that has everyone in finance talking and arguing. it is "flash boys." there you see it. beautiful red color which always works for me. michael lewis, welcome. >> thanks for having me back. >> we are delighted to have you back and glad -- you have many airlines you could choose to fly. we're glad you fly cnbc. you say the markets are rigged. that's an inflammatory term. that suggests to me that you believe there is a conspiracy afoot in the marketplace. are you saying that and if so, who are the conspirators? >> the book is pretty clear about all this. i think it's an accidental conspiracy. i think accidental -- this sort of unintended consequences of regulation that was introduced in 2007 created this really screwed-up market structure in which a lot o

pete na jair jjariannajarian, s josh brown. the nasdaq the biggest loser closing down 1.75%.n down nearly 10% after last night's disappointing conference call. facebook, netflix, pandora, all getting hammered. price action not

percent and that seems to be well also happened back in pre-war one days i think it was actually josh brown the reformed broker a follow on twitter who made this comment about the top ten or fifteen percent owning eighty five and ninety percent of the world's wealth another going to war for the remaining ten percent and he did you do see that leading up to world war one which was a period of globalization and then finally the cup the crowds in the plutocrats decided to go to war with each other because they were bored it was a sunday afternoon and the kids were doing whatever the kids were doing and the world war one and the set up the century as we know it now the daily mail that you mention is interesting that they because there are hyper partisan right wing fanatical kind of little england druid worshipping. veto pundits that have no balance whatsoever constantly on the side of modern game plutocracy so the fact that they're questioning this would be like fox news in america suddenly you know praising jimmy carter or something like that or so this is i guess interesting there's it's so o

. >> justin brown in today for josh on the final trades. bbx. can you say it? >> i was thought he was going to pick mattel or hasboro. >>> halftime's over. the second half of your trading day begins now. >> apple crisp, apple strudel, apple sliders, apple pie, any way you slice it, apple is having a great day. after the seven-way split, is this is stock you want to buy? >>> trouble intensifying in ukraine, folks. you need to keep your eye on this one. ukrainian forces moving against positions held by pro russia gunmen. russia calling for new exercises on ukraine's border and warning that any attacks against russian citizens will be met with very sharply. >>> all right. the gold market responding right now. gold has been moving up. and warren buffett, let's move on to him. warren and the boards. >> well, i voted for compensation plans that i haven't agreed with. i've even sort of muttered a yes on some mergers that i didn't think made sense. it happens. >> if warren buffett with all his money, power, influence, can't say no to a board or to a management, can any

josh. i like twitter a lot, i happen to like apple better. i have 170 billion reasons, mr. brown, why i do like them better. that's the revenue last year, as far as profits, $7 billion. twitter isn't in the same sphere or universe. as far as them becoming the next netflix or twitter or next papal for that matter, all of that is out there for apple. that's why i've been so critical of them because they haven't capitalized on it yet. >> yes, but have you been to their headquarters and did they give you a glass of cool laid? >> they did not but i have been out to drinks with a couple of engineers. >> i will mention i have not verified >> how many? . >> 15 that are not bots >> how many do you have now? >> 75,0$75,000. >> we need to get you verified. >> some day. >> who made the more compelling argument. >> twitter has taken to the woodshed, absolutely no doubt about that. i don't think that's over. there's more downside to twitter than apple. >> if the lock-up was a big potential catalyst for the stock to sell off, if you remove that from the occasiequation does th change it? >> it i

welcome back what you hear a national with me wearing a joshing now former british prime minister gordon brown has warned his fellow scots against rooting for independence claiming the elderly risk losing their pensions if they cast a vote wins and that has the campaign to break away from the u.k. gains nationwide momentum now latest polls are showing support for in a pants hasn't changed from a month ago and currently stands at thirty nine percent but opposition has fallen to forty two percent compared to forty six percent in march so our first reports. we saw former labor prime minister gordon brown lending his weight to the better together campaign today delivering this speech in class trying to convince scottish voters to remain as part of the union now in his message that he delivered to scottish very tos he tried to highlight five big positives to remaining as part of the union at the top line was to deal with pensions and that one billion extra would need to be spent for scotland to establish its own pension system he also talked about public health service funding he mentioned jobs of

brown. >> volatility has died down, why wouldn't you want to be in a goldman? >> right now. >> they're building the lever up to the economy not so good. >> next up, apple. >> let's get to cnbc's joshn this. josh. >> apple reports earnings next wednesday and there might be a big surprise for investors. tony, the analyst who covers apple estimates that apple has about 10 billion left in its current buy-back program. he thinks apple next week will add 30 billion to that program. apple stock could use a boost. it's been stuck in a trading range between about 525 and 550. peter of jeffreys agrees that apple should buy back more stock. sitting on nearly $160 billion cash pileup. telling me that is an obscene amount of money the company should be returning to its owners. urging apple to repurchase more shares. carl icahn. he finally waving the white flag in february to convince apple to buy back additional 50 billion of its stock. not every analyst thinks a buy back makes sense. apple bulls are looking for a catalyst to move shares higher, whether that's a new product or service or both. or bigger buy back could have an impact in the near term. melissa, back to you. >> just quickly in th

gordon brown warns fellow scots from voting against breaking away from britain in the crucial upcoming referendum. is to be in the russian capital you're watching are to international with me marina josh welcome to the program and russia's foreign minister has exclusively told r.t. that he believes washington is deeply involved in the standoff between kiev and a protesters in eastern ukraine and here's some of what sergey lavrov had to say in his interview with sophie shevardnadze. no the joe biden visit the q you've got on that the rest of the ration was declared in the exit phase again well it's quite thrilling that they chose the moment of president of the united states to visit. the unknowns the resumption of this of the russian because the launching of the. happened immediately after john brennan's visit to keep so i don't have any reason not to believe that americans they're running the show in the very close really well we'll show you that interview in for sixteen hundred g.m.t. and sophie and co but let's quickly talk to so sure nancy and she is here with me in the studio or great to have you here in the studio tell me what it was like to talk to mr lavrov and specifically wha

our tina brown the daughter of the lost and a pain to share with countless others civilian victims of the drawn out war. for their mosque are you watching r t international with me marina josh welcome to the program live reporting haskin down cave for using violence against its own people and rebuffed claims russian forces are acting in eastern ukraine the crisis in ukraine as well as the reunification with crimea held the spotlight of the russian president's annual q. and a event are just like shirish ascii has been listening in well let's see it thank you very much for joining us and as we know ukraine has done. they did this q. and a session do bring us the highlights indeed questions about ukraine to call most half of this q. and a session and first of all talking about the situation now unraveling in the south and east of the country but you know to put in held responsible for these actions saying that they they they put military in these regions and this is not the way to do business that the only solution is through a dialogue between parts of ukraine between the people of ukraine not even the third side despite saying that russia is not considering. legitimate. mosc