those are nice words about amex somebody that supports amex.e're seeing erosion of their what was really monopoly on really wealthy customers. talk a little bit about people angling for that business. we have barclays in the business right? >> right. barclays and mastercard teaming up reportedly with jetblue. we don't know who costco will partner up with. that will be announced later next week or end of this week. really the big headline here is that american express is losing its foothold in the wealthier client and marketplace and cart relationships are getting very competitive. gerri: here is my bottom line. do you hang on to the amex card or not? >> that is a huge question. we don't know enough right now to decide what to do. consumers will have choices. you will either be able to transfer the account to another american express card. gerri: at costco? >> at costco or leave that card and go to another american express card. whether everyday card that has no annual fee. or go with whatever new cobranded card will be or use cash or checkbook.

>> amex has said they will appeal. after 30 days, the judge will rule and provide a final judgment. then they can take that to the circuit. >> this opinion was 150 pages. why was it so long? >> i think that this will be taught in antitrust law school. it is an incredibly complex industry. the judge wanted to be very careful that when this gets appealed, he is not scrutinized for making an error. he was very careful with economic analysis from both angles. i think he just wanted to be really careful. >> one of the things that we know about amex, one of the complaint is that a lot of merchants say that the fees were too high. any possibility that they might lower the fees? >> that is a possibility. i don't believe it is in the immediate short-term. wait until it is fully litigated, the second wave goes in. there will be a bit more clarity. >> emily hamburger, a litigation analyst. giving one last chance for health care and avoid costly penalties. peter cook will be back with those details. stay with us, you're watching " bottom line" on bloomberg television. >> americans facing a fede

the natural suspicion for some is costco dumps amex and adopts apple pay. >> never -- amex had theirns, there's a loan business and apple's not getting in the loan business. the whole food took me away hearing apple was the biggest -- what's it mean? forward group of people shopping at whole foods and i continue to tell you that whole foods is template. they're going to -- >> for apple pay? >> yes. go back over in the book about apple. you know that none of those record companies was even like taking the call initially. and then in the end they begged they begged they were on their hands and knees let us have a little business. >> well, he pantsed them. >> herb albert sold at the top. a genius and a musician. >> those that deal with him think twice given the experience of the record companies did have. >> i think that -- >> but there can be an argument made that everybody will benefit so i'm sure that apple's making that argument. >> i think this thing is revolutionary and happening right now. it's happening right now at apple pay. right now all the retailers are huddled around. they

betty: what did you make of the amex news last week?t people using it at costco for the rewards? guest: it is been a bad week for amex. jetblue is going to be leaving. it is been a bad week but that is great for consumers because amex has been pushed back a little bit. you can expect good offers on their existing products. betty: how do they rate with their rewards program versus the other companies? guest: american express has been the gold standard of rewards. we've seen chase come in and take market share away. now is the time for consumers. you can get a huge sign-up bonus. betty: the one thing you say are the best, chase sapphire and city advantage. why is that? guest: starwood american express card is also awesome. you want to accrue points that are flexible. banking into one specific -- betty: can we break it down to how much you would get? guest: you get 40,000 points which is $500 in airfare or you can transfer to partners like united. the real value in these points is transferring the partners. the fee is waived the first year

matt: it is 20% of amex spending is that cosco. 10% of amex cards are the cosco cards.chunk. alix: 70% of the money they make come from outside the store. you use it elsewhere and it is that revenue that will be coming under pressure. they have to have more rewards cash back, which means more outlets. betty: warren buffett is the biggest shareholder and he saw his shares down. matt: alex monger is the vice chair of berkshire and amex is one of his biggest holdings. betty: coming up, the nba tech summit is underway, head of the big all-star game in new york. david levy, the president of turner broadcasting will be joining us, next. ♪ betty: we continue to count down to the opening bell, halfway through, it is time for our deep i've. game time at the annual nba all-star tech summit in new york city with some of the biggest names in media and sports are gathered to discover the latest in digital trends and innovations. stephanie ruhle standing by with david levy, president of turner broadcasting. take it a way. -- taken away. >> all-star weekend is more than a game. give m

but can you no longer use an amex card now?. >> for the next year the relationship remains in place. after that we don't know because costco hasn't announced who their new partner is and what network they'll be using. that's a question that has to be answered. >> we've got to run. does amex have jetblue in i saw a tweet pop by that says they may not have them too, is that right? >> i think jetblue announced they're going with barclays a lesser impact. >> all of the airlines they wrote. thank you for coming in. "squawk on the street" begins right now. ♪ >>> good wednesday morning. welcome to "squawk on the street." i'm carl quintanilla with jim cramer david faber at the new york stock exchange. the dow is six points shy of a record close this morning, as we prep for fed minutes this afternoon. a bunch of earnings reports that greece will ask for that loan extension tomorrow. oil's giving back still comfortably above $50 at 52.307 the ten-year 2.12 that's just about the high for the year. road map

the court said amex must lead -- must -- 12% could be cut from amex's revenue. are top headlines at the moment. brendan? brendan: in europe sometimes you get a chance to see what somebody really thinks. yesterday for the first time the european released its minutes, stagnant growth. "raise the possibility of forces coming in, which would not permit an attitude of benign neglect. virginie maisonneuve, you have been watching from the outside. let's talk about it from the inside. i did not know before reading the minutes that "benign neglect" was an option. virginie: the reality is that we have qe growth that was very slow, and deflationary forces clearly have intensified. the one thing i think is important to dissociate is the fact that part of the legislation or a forces -- part of the deflationary forces come from the lower dollar and the lower oil price. the strength of the dollar and the fall of oil prices has had an impact. brendan: it seems to be a big part of the minutes. virginie: i think that is important, now that the euro has weakened and that we have q

an exclusive deal between amex and costco expires in march of 2016.far they have not agreed on terms to renew. american express the stock has tumbled on news of this because costco cards account for roughly one in 10 amex cards that are now in circulation. frank and michelle? >> jill, i guess valentine's day is tomorrow and, of course, all the sweethearts going to love that and some companies are kind of cashing in, too. but in a different way. tell us about that. >> reporter: yeah. apparently there are many heartbroken and perhaps bitter people out there who are not necessarily looking for love on valentine's day. so there's one website cuddle up to me and that offers professional snuggle sessions for a dollar a minute. dirty rotten flowers lets you send a bouquet of dead roses and tattered teddy bears to an ex. if that doesn't go far enough, the san francisco zoo will actually, um, let you for a small donation, you could actually, um, adopt a very large cockroach. again, frank and michelle, i'm not promoting this. >> it's kind of a fun idea. the sco

. >> you like amex? >> wait a while. >> your prediction? >> business construction is up. alm is the way to play that. i own it. >> >>> google's robot dog is going to fail because they are not as cute as ramon with tin foil around her. until they make a cute robot dog, they make the most favorite food hill's diet. >> he is the sweetest. oh, my gosh. he is our mascot. >> can we get a robot for jonas? >> he is our mascot. we love him. he is my valentine. you, ramon. neil is next. >>> you want someone to go after isis money, how about the guys great at hiding his money? welcome i'm neil cavuto. russia to the rescue? think about it. when it comes to tracking down where isis gets its money, united nations figures who better than the fox to find out who is funding the hen house? charlie gasparino says bad move. ben stein will be back with us next week. >> if you want a leader that's in bed with the mafia which he is, you want to break bread with him and let him lead

and that could affect people whose memberships are tied to their amex cards. >>> and now there are two days left to enroll in a health insurance plan under the affordable care act. the enrollment deadline for the 2015 season is this monday. well, some women are beating the biological clock with a backup plan last night on "action news" at 11:00 we show you the egg freezing party at a local bar, they answered fertility questions in a relax session. and we are hosting a live facebook chat today starting at 4:30, can you join by going to 6 abc "action news" facebook page. and now the news team is working on new story for tonight at 4:00. alicia vitarelli is here. >> happy freebie friday to you a valentines education for you at 4:00, from skin care to candy, it's a freebie friday are you sure to love. today we have a big talk thar is blowing up our facebook page, it's should valentine's day be banned in schools, some parents say the holiday has no place in the classroom. plus it's all fun and games until the police show up. now two eastern pennsylvania men are facing charges, you can take

my loser this week, amex.y tried to go to court, saying no one can use any credit card than other ours. judge said not to so much. costco fiasco where they separated from costco. there is a reason amex is down this week. liz: paul, your winners and losers. >> hackers got into the state department mail servers. these hackers that is gold medal of hacking. got into the state department. they can't get you out. they won, what do you want? my loser, every single person on the eastern seaboard. it was one degree this morning. it is freezing. it is getting more snow. i'm officially done with winter. i am a loser. liz: you're such a baby. you live in new jersey. i'm a calfornian and i'm dealing with it. gary b., your winner and your loser? >> well, my winner was short volatility, short vxx. you can also be long xiv. liz: that was a good play. we hit a low of 2015 on the vix. >> exactly. so volatility is dropping out as obviously the market goes up. they usually run counter to each other. my loser, actually i think ek

costco has been a huge part of the amex business. >> chocolate has soared, the increased demand for darkwhere. you're sweety is worth a little extra something. >> wow wow. >> that's america's money. >> a video of president obama went viral. >> we have dramatic video in the newsroom, a runaway bus with students trapped inside. find out how police found this trip ended safely. 5:30 a.m. um, let's go. cool. sit down! alright. sorta you, isn't you. only esurance has coveragemyway. it helps make sure you only pay for what's right for you not someone sorta like you. i think i blacked out from fear... did we ask him where mr. craig was? we did. esurance. backed by allstate. click or call. wisest kid? the girls and i need... a new activity. [ giggles ] [ snaps finger ] [ wisest kid ] campbell's tomato soup with grilled cheese. perfect together. what should we do next? i'm liking braids. [ gong ] m'm! m'm! good! my tempur-pedic made me fall in love with mornings again. i love how it conforms to my body. with tempur-pedic the whole bed is comfortable. it's the best thing we ever did for ourselves.

last week, amedical examiner said amex. shares off nearly 2% at $78.40. >>> to the global markets where japan's benchmark nekay index. proposal for a six months extension of its loan agreements. the plan was rejected by germany. michelle caruso-cabrera has more on the negotiations and what might happen at a key meeting of euro zone finance ministers tomorrow. >> reporter: so it finally happened today. the greek government submitted a formal request for an extension of the bailout. the government refused to say it's a bailout extension, but everyone else in the euro zone is saying that is exactly what it is and that's what they needed in order to come to the table. so here we go again for the third time in two weeks. all of the euro zone's 19 finance ministers look at brussels for this request by the greek government. several key commitments in there and at the same time there are a number of other countries in the euro zone. germany in particular that feels the way it's worded there's just too much wiggle room in there that

. -- amex. and customers can buy products with costco cards.they can't agree on things that don't make good sense. going to see what comes with the special cards. >>> postal office, getting new wheels. the usps has 200,000 vehicles and wants to retire the fleet. want new trucks to be bigger on the inside and get better mileage. and they're pretty old. the new truks could cost between five and # billion dollars. they want to pick an auto maker and use the new shiny trucks in 2018. >>> gorgeous night out tonight. temperatures still in the 60s and holiday weekend is going to feature nice weather. clear skied and mild temperature, going into tomorrow morning, we have these off shore -- foggy in santa rosa. and a completely sunny day with temperatures into the mid # 0s for the afternoon. and there could be a couple of places that could get to 80-degree. for monday presidents day a similar day. one of the off shore winds going to bring temperatures down a few degrees. a little bit cooler than that on the coast. the on shore winds will bring clouds fo

i amex are watching for my desk here on capitol hill where we ask the work on these issues. i attended majority universities. first, great job. i think my question is, i have a daughter who is getting ready to graduate and we are looking at hbcu's and other colleges. my frustration is, since i graduated, the only information i get back from the hbcu's is on attending events. i received -- but i don't to the reach back. and also, are other issue is the leadership. we have had several presidents. i know morehouse has better reputation that way, but it affects the alumni's relationship with the school. can you talk a little bit about how you are dealing with the leadership level, beyond the actual education, and how your reaching out to alumni to kind of keep that cycle and keep that passion for the hbcu going? host: thanks, christina. guest: thanks, christina. that is a great question. as i said, i'm a graduate of morehouse college, and i attended morehouse for four years. and then i spent six years at harvard university. getting to masters and a doctorate from harvard. i echo

leslie: it could be a big blow to amex's business.s bad for consumers because it reduces choice. i cannot figure out -- i think it is a wash for consumers. on the one hand it is true that you want more competition and your merchants being able to decide on their own what they will suggest to you. on the other hand, the other issue is, do you rely on the rollover a debt -- on the rollover of debt? i think it is kind of a wash as far as the rest of us are concerned are in betty: number three, oil is headed for its first weekly decline in a month as u.s. crews stockpiled to expand a record. prices will continue to remain volatile and his pattern will continue over the upcoming weeks. who does not think oil will remain volatile, right? brendan: i think that is the best tradition you can make. people have been coming in week after week and making surveillance. they are always wrong and we are always wrong. i just learned for the first time that if you want to invest capital in fracking oil, it takes 28 days of investment to turning the tap

amex is raising rates of an average of 2.5 percentage points to almost 13%.he company says it is making the change after looking at rivals' interest rates for borrowers with similar credit profiles. another retailers following walmart's lead in raising wages. the parent of t.j. maxx and marshalls says that lower paid store employees in the u.s. will get a raise to nine dollars and hour in june. beginning next year's, those employees with six month six prints will get $10 an hour. last week walmart announced plans to give 500,000 of its u.s. employees a similar pay raise. walmart has been trying to reduce turnover. it is a happy holiday for target. the discount retailer posted better-than-expected profits. what are the reason -- part of the reason stronger christmas sales. ceo brian cornell is focusing on the u.s. he got rid of the money-losing unit in canada in january. target is trying to regain customer trust after the devastating computer data breach in 2013. that is a look at the top stories we are following. while congress and the courts battle over pres

amex is a great opportunity. we're bullish. another network created since discover.rty odd years ago. great returns on equity. yes, they lost a big deal. they have a lot of assets. they'll figure out a way -- >> one major problem. stores don't take american express when you travel internationally that's a problem. they take too much of a -- >> they're an engaged customer base. charles: the retail expert. what would you say? >> they're doing strategic alliances with places like walmart. trying to get the lower end consumer with these charge cards. lower end charge cards. in that sense, i like it. don't get in. it will go lower. charles: you would own that over other competitors though? >> there aren't many though? charles: but would you own -- just want some clarification. tom on twitter: pioneer national resources good choice or too risky in light of oil prices? oil prices, i felt like they could go back to 43. i think it would be one of the shock things that wouldn't hurt stocks. now is the time you have to start loading up. i offered a free report on oil. the names

until then your amex card will be accepted at costco stores.rivals like visa or mastercard may take its place. >> facebook wanting you to live on even after you die. you can leave a legacy contact. you can do this through your security settings. you can also opt to have your page deleted after your death. >> elon musk got attention. in an earnings phone call yesterday he downplaled the disappointing gains for tesla but he also dropped some tantalizing hints about his next endeavor. a battery pack for your home. apparently it's already designed and a few months away from being manufactured manufactured. the speculation is the home battery could power your home for a week. that sounds cool. >> interesting. nice weekend ahead of us. >> yes, we do. is it still going to be that warm. >> you're wearing a yellow tie. that's a hint. >> the forecast is right on the next couple of days. you can see. clear skies in san francisco. we'll talk about those record-setting highs and if we'll hit 80 degrees tomorrow in 15 minutes. ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ ♪ great rates

. >> caller: jim they are a three-bagger and up over 300% and when you look at the real peers like amex and capital one up 100%. >>disagree. aj at mastercard are brilliant. they are brilliant and by the way, they are humble. and that's why those go on. you know who we ought to speak to? tim in new york, tim? >> caller: jim, how you doing? >> couldn't -- >> caller: i want to know your thoughts on blackberry and the possibility of a takeover? >> we don't recommend stocks on a black over, only if the fundamentals are good. some will say -- listen knuckle head if you want to go speculate on takeoverers, be the chatter head of the year. i don't care. hey, how about pamela in maryland, pamela? >> caller: yeah, boo-yah jim, thank you for taking my call. >> my pleasure. >> caller: i have a call about ambercrombie and fitch. >> i look at the morgan stanley negative piece, the sell. look, that teenage apparel is a tough, tough game. no one can play it well. when we want apparel, we're going to ross stores today. that looks good. ross stores is a favorite, tjx that dip was moe men tarry. that's wh

what about the $107 billion stock portfolio he runs with names like coca-cola and amex and da vita health care. you need to hear about terrorism to the federal reserve to what's going on in europe? it may make you money, indeed. he's hear with us and you live, warren's way, let's start the "countdown." . >> 50 years as what started as the distressed textile company and multiholding company with some 80 businesses from dairy queen to diamonds, insurance to investments like safety to furniture all run by warren buffett, a kid from omaha, nebraska whose first job was working in family's modest grocery store. in a fox business exclusive, warren buffett is here with me for his first interview of his 50th year as the founder. live at a business he and berkshire bought in 1983, on a handshake with founder rose blunken who began by selling furniture in her basement with a couple thousand dollars. some of the furniture was her own. the nebraska furniture mart one of the largest free standing furniture stores in the world will outdo itself with a brand-new mega store that will redefine the term big

>> amex the top performing dow component. performing component of the week. >> well -- >> deutsche takes it to a buy. they say you lose costco lose jetblue, you can make it up by managing expenses in other things. >> my charitable trust owns the stock. the deutsche bank note they -- costco cost them 75 cents, how is that -- how did we not know that. >> amazing. >> 75 cents? >> a share. >> i call that material. yes. >> that's material. there, i can't help them. i'm a member since '82. >> kohl's 1.83 beat business 3 cents. comps up 3.7. >> stock's had a big run. so has dillard'sing back from the kind of who cares? those are gasoline plays. a bit of remodeling at kohl's. >> l brands beating by nine cents with 1.89. comps up six. div hike by 46%. >> i like that people didn't like guidance. you'll see that go down. these are the revenge -- the shorts -- the stocks ran so much that they're all coming in. but all of these companies are very good at managing expectations. i think you'll find lb will be back up not long from now. >> w

store, and jew blue's decision to end the relationship with amex.ing addsing to the stock's now 17% decline this year making it the worst performing dow kpoencomponent. the costco news hurts the most a big hit to the earnings and revenue and next, and jet blue is least impactful, and today's ruling, it's upnlikely to hurt transactions in large retakers because they negotiated rates like they pay others like visa and mastercard so there's little incentive. what it may affect though is amex's blue program aiming to increase the number of small to mid-size merchants giving discounted processing fees. that may prompt merchants to ask for a bigger discount. brian, back to you. >> thank you very much. every week, we introduce people who get paid to do cool jobs. last week we had a helicopter pilot taking skiers up the mountain. today? meet the man who gets paid to help them get back down. >> i'm graham holt and i'm paid to be a heldski guide. people see the job as extreme, taking a group of people up into the mountains and providing them with untracked, e

ge, amex, nike, caterpillar and a few others, visa as well and walt disney.news, three al-jazeera journalists have been arrested, yes, you heard me, for flying drones in an illegal drone section of paris. while there's not yet a connection, the arrests come just a day after paris police were looking for culprits behind some mysterious drones flying over paris landmarks recently like the eiffel tower and the u.s. embassy, the past two nights. this scare is occurring just after the u.s. had its own drone scare when a drunk p off-duty federal employee crashed a drone on the white house lawn. okay, this is all very bad news for anybody trying to do legitimate drone business. where do the security worries leave the drone debate. joining me now precision co-founder earnest earon, you're one of the few approved to fly drone and using your software over european nations, not france. >> yes. nobody should be flying drones over paris? >> certainly not those sites. what the heck is al-jazeera doing? they know they're watched carefully from middle eastern countries that

he talked about costco dropping amex as its exclusive credit card. >> a negotiation which amex declinedd's school and people say i won the auction. you didn't win, you spent more than anybody else. and i think management made a very very smart decision vis-a-vis the costco. >> you can find more from our exclusive coverage at cnbc.com. back over to you. >> enjoyed slot, proven many colleagues are only seven. dick costolo, you -- important support there? >> i'm glad julia asked him and got the answer. he's important in that boardroom, no doubt. chernin is a serious player and i think he's very influential on the twitter board, based on conversations i've had with a number of people. his endorsement is an important one. >> was there doubt the board was fully backing him. >> how long this guys stays on the job is an open question. but yes, i think the answer is yes to your question. >> julia? >> it's worth noting we also yesterday, heard from ev williams not only on twitter's board, but twitter's largest shareholder, he was previously ceo of twitter. he was on stage at code media yesterday

they fell 56% amid news costcowill stop accepting amex cards. two giants in online travel are joining forces. expedia buying orbitz. both stocks soared on the news. in a race, it's about getting to the finish line. in life, it's how you get there that matters most. like when i found out i had a blood clot in my leg. my doctor said that it could travel to my lungs and become an even bigger problem. so he talked to me about xarelto®. >>xarelto® is the first oral prescription blood thinner proven to treat and help prevent dvt and pe that doesn't require regular blood monitoring or changes to your diet. for a prior dvt i took warfarin, which required routine blood testing and dietary restrictions. not this time. while i was taking xarelto®, i still had to stop racing, but i didn't have to deal with that blood monitoring routine. >>don't stop taking xarelto®, rivaroxaban, unless your doctor tells you to. while taking xarelto®, you may bruise more easily and it may take longer for bleeding to stop. xarelto® may increase your risk of bleeding if you ta

customers can use their amex cards unti next march.cards are still well come. >>> expedia is going to buy orbitz. the deal is valued at $1.6 billion. it also owns several other travel sites. only priceline made a move to expand outside the travel space buying up open table last year. >>> and when someone dies, friends and family now often turn to facebook to remember them and share stories. but until now, facebook automatically memorialized those accounts allowing them to be viewed but virtually frozen. today the social network will allow you to add a legacy contact to manage your account after you die. post a message to be displayed at the top of the page, respond to new friend requests from family members, and even updates your profile picture. now, you can also choose to allow your legacy contact to download and archive your photos. facebook also gives you an option to delete the account altogether after death if you so choose. remember, if you have a consumer story idea, give us a call at 888-5-helps-u. >> thank you. >>> the outlet

the store will stop accepting amex payments next year on after the two companies were unable to comeo a contract extension. that is a big deal. >>> google waging a war against body odor. it has been grant ad patent for fragrance emissions device. the wearable spray, spray as deodorizing scent when it detects body heat and sweat. try wearing that with your google glass. >>> a congressman from a state has introduced a bill that would have them ban in public. he says they promote indecent exposure. no yoga pants? >>> linkedin spreading more than just your resume' around. have to explain the connection between silicon valley and the measles outbreak. >>> plus, british aquarium saving marine life and serving it as a meal? no wonder the fish look so nervous. smart money coming up. ♪ the real question that needs to be asked is "what is it that we can do that is impactful?" what the cloud enables is computing to empower cancer researchers. it used to take two weeks to sequence and analyze a genome; with the microsoft cloud we can analyze 100 per day. whatever i can do to help compute a cure

what about the $107 billion stock portfolio he runs with names like coca-cola and amex and da vita healthism to the federal reserve to what's going on in europe? it may make you money, indeed. he's hear with us and you live warren's way, let's start the "countdown."

amex says it will notify customers about this change give them the option to keep the card at highernterest rate or cancel the card the company declined to say how many of its 42 million cards will be affected. david: new study, 1/5 of all the cars on the road were recalled for safety defects but never were repaired. liz: oh, boy. there are a lot of phantom cars out there. what can consumers do before they buy a car? we have a foxnews.com automotive editor. that is a lot of cars. how can consumers be smarter to make sure they're not getting some defective car foisted up on them? >> first you have to do research ahead of time of a car you might be interested in. see if that model of car has a recall on it. when you go look at specific cars. it is really easy. get the vin number off the car, look it up and it will tell you if there is specific cars and specific model. to find out if it is worked on this is more difficult. used cars, these car dealers don't have to tell you if work has been done, if there is recall. they don't have to get recall work if it is sits on its lot. get carfax

in this case the loser really is amex. because other deals like this are going away.oing through a round of layoffs. costco is the big winner because it shows their clout that they can bookie from a deal like this. >> can you use them somewhere else? >> you can until march of next year. >> facebook legacy. what's the decision a users can make about the fate of their membership? >> you don't want to think about what will happen to your facebook after you die. they are giving you three options. so the first option is do nothing and leave it as-is, which is the fact that they can memorialize your facebook page if there is proof that you die. the second option you can ask facebook to delete your account altogether when you die. or the third option is you can designate someone to manage your account for you, which is a legacy contact so they can manage the posts for you and people can post updates as well. but they don't let those go on to your other friends's feeds. because that's pretty morbid and tough. >> actually tasteless. nicole how about this. coca-cola milk. why i

. >> one of the stories was loss of exclusivity by amex at costco.hould he bail or are you still a believer? >> the stock is $78, billion shares, $78 billion market cap, they have to come back and demonstrate what they're doing. i did not read the judge's opinion yesterday. i have it but couldn't get to it last night or this morning. i want to understand what the issues that he was worried about are because that has long-term implications. when i walk into a costco and i hand them my american express card to pay, what's going to happen two years from now? is that still work in progress? when i walk in and i want a 2% discount which card do i give? is that good? when i buy gasoline, $2 and change for cash, and a little more, just speaking from my own point of view i would love everybody to tear up all their credit cards and pay cash because we own brinks. >> back up the truck. >> back up the truck. i think that on march 11 they're going to have a meeting, they're going to go over this. it's an analyst meeting. and, you know, they've got to come to gri

dow down by about 46 points, amex the biggest loser. down by about 5 points and nasdaq down about a quarter of a percent there as well. check out gopro, shares are actually rallying which is not what you normally see when a major lockup exploration actually comes due as it has today. today early investors could potentially unload about 76 million shares. you can see gopro up by about 7.5% which would lead you to believe that not as many sellers, if any sellers, carl, are actually coming to the table despite that deadline. >> when we come back shares of box taking a hit after a ton of analysts released their calls on the stock this morning. early box investor will join us and break it down in a moment. two months before it hits stores the apple watch looks different than advertised. we're going to tell you what you need to know. don't expect to see the amazon drones any time soon. we'll find out why later on. kevin asked for steely dan and that's what we will use to go to break. "squawk alley" is back in a minute. i've been called a cont

it's been interesting, holders of amex. the sales guidance for the year, how much of that is the dollar and do you see any signs the dollar is peaking? >> can't call that one. but currency has been a big headwind for us. it's in our forecast in a big way next year. we don't try to forecast it. we use the peg rates as we look at our forecast. our earnings estimate for the year as we look forward is impacted not only by that but by this investment in associates and large investment in commerce. >> the story of walmart is to a large degree at least on the street has been, you've been investing for years, right, e-commerce, now training and retention all these things going on a long time. at a what point is there light at the end of the tunnel where the investment fades and you start to leverage all the capabilities? does it sound like fiscal '16 is that year? >> retail is different than it used to be. when we were modeling super centers and sam's clubs in this country, we have a global business and make these decisions across

some betters are trading on a comeback for amex.kick it off with this incredible video out of west virginia where csx train carrying more than 100 cars of crude oil derailed on monday and exploded into a massive fireball. no serious injuries were reported in the crash. it was the second oil train derailment in three days. saturday, a canadian national train went off the tracks near the city of timmins in northern ontario. joining us, dennis gartman, publisher and editor of "the gartman litteetter." does this do anything in terms of keystone? >> i think, mel, it has to actually. this is the fourth major circumstance regarding a train derailment, luckily no one was hurt, no one was killed in west virginia, no one was hurt or killed in the circumstance in canada, but we have to remember the lake mcgontik fire of two years ago. i think this does very severe damage to the idea that we can continue to transport crude oil solely via rail. i think it has to put the president on a very difficult sp spot, he doesn't have much choice to go ahe

. >>> with montreal street journal says a breakup between costco and amex is shaking up the credit cardy. costco exclusively accepted american express cards for 16 years. costco is the second largest retailer in the u.s. behind walmart with sales of more than $112 billion last year. >>> and the "washington post" says tesla's make bathry for the home. elon musk the carmaker, says it will likely be unveiled in a month or two. on wednesday they report add loss of more than $107 million in the fourth quarter. news about the battery did not help the company's stock. it fell more than 4% thursday. >>> a new video promoting president obama's health care plan is creating a lot of buzz. this morning buzz field shows the president making faces in the mirror and taking fake free-throws. advocates praise it as an attempt to reach millennials. julianna goldman is in washington with why critics believe the video comes at a bad time. good morning. >> good morning. "buzzfeed" has made a name for itself. it only took the president ten minutes to film the video but it's already received more than 20 mill

the move comes just days after the move for amex.he lawsuit and costco is ending a lucrative partnership. shares of casino companies are plunging. the reason is weaker than expected gambling and the chinese new year. down more than 7%. a record high from the casino. the chinese government has imposed stricter traveling rules and that has kept a lot of high rulers at home. a hackett back may have involved millions of people who are not even customers of the insurer. the hackers got access to the names and a dresses and social security numbers of 79 million people. no more than 70 million were actually customers. he still does not believe any financial or confidential health information was accessed here they got your social security numbers. >> religious groups are uniting against abercrombie & fitch. the team faces a religious eyes challenge -- bias challenge. the supreme court is hearing the case. abercrombie claims it has the right because of its policy. bob of bloomberg businessweek is covering the story. lay it out for us. >> you

we reach them from a a variety of channels, the internet, the amex app, text messaging. there's a lot from the early 1990s 1990s that limits our ability to contact american express part numbers: this applies to the industry overall. as a result we are not allowed to send fraud alerts via text to more than 90 percent of our customers. yet to the university are allowed to text we received a reply within 60 seconds 35 percent of the time. this is near time protection. this capacity, not just ours, but the industry we will he tenfold overnight with a single update to existing government regulation. it would have a measurable impact on fraud and it would help to reduce decline charges which are an annoyance. most of the audience is likely faces. the private sectors must partner to keep our laws and regulations coming this is how are going to be able to meet the objectives of constancy of values and constant reinvention. we need more cost industry and cross sector and cross partnership with the government. again mr. secretary, i want to thank you for inviting me think the pres

a decade later as a young boy is now a young man in basic training and amex trouble.n the caliber. he's a good film maker in this is worth seeing. from >>: 50 shades of gray. that was a pure yet american sniper fox kitchen is now on dvd. the last brahman hud with kevin kline brown and head. --robin hood. >>: joan rivers is a piece of work because at the oscars they forgot her and memorial. << marty: does follow was sent the kron 4 from view of the area. the fire broke out just before 7:00 this morning. its cause an estimated half million dollars in damage. but injuries have been reported. the bomb squad was called in a residence or s to shelter and place before or later the bomb squad had cleared the scene and we're sure there was a hoax. << marty: residents waking up this morning concern for the children safe the man was recently moved into the neighborhood was described as a high-risk sex offender. they're upset because they're not notified by the sheriff's office and they found none by name rig at. the required to taken from the county sheriff's office 790 days in

mike, amex, back to you. >> thank you, bob. so she is from burlington county, new jersey.rare form every cancer. >> she's from tabernacle, to be exact. but it is her positivity, that has captured the attention of celebrities and the rest of us. remember julie? >> julie kramer wasn't a runner but on march 22, 2014, just a week after her birthday, she took on the philly 5k. that's when her reality changed. two days later she couldn't breathe. her mom took her to the hospital and that's when doctors noticed a mass in her. >> i never thought that it would be cancer. >> ellen degeneres heard about julie's site, inspired by her positive attitude, ellen invited julie on her show. >> you're 23. >> yes. >> and you're diagnosed with stage four sarcoma? >> yes. >> what is that? >> it is a very rare form of soft tissue cancer, very, very few percentage of people in the world get it. >> after six cycles of chemo, jewel had i surgery to remove the tumor. then just hours later, she decided to dance. >> ♪ >> on january 20th after 36 treatment of proton therapy radiation, julie finally com

you to see this business get plenty of sandbags around this you can see the next business into tips amex to the front row where out in front of the bar car the 2:00 a.m. club this flooded about a year ago during the storm the owners are clearly not taken any precautionsnot >>reporter: you will find a lot of spots to even talk about we need it to start raining and we expect that to happen in the next few hours i did ask people if it wants to do a rain dance on camera surprise when no one has gone for so far this morning. >>darya: thanks a lot like we want your pictures on camera some of you in your rain gear when it starts raining if you have any flooding or any trouble driving around today you can send us pictures at breaking news at kron 4.com apple store facebook face and we will share those throughout the morning and do not forget any time a day you can get the latest on the storm and the effect on travel for you with our global application that the download for free. >>james: for a half-hour the latest out sfo because of winds. there is the earthquake it was on the peninsula near red

does amex have jetblue in i saw a tweet pop by that says they may not have them too, is that right? >> i think jetblue announced they're going with barclays a lesser impact. >> all of the airlines they wrote. thank you for coming in. "squawk on the street" begins right now. ♪ >>> good wednesday morning. welcome to "squawk on the street." i'm carl quintanilla with jim cramer david faber at the new york stock exchange. the dow is six points shy of a record close this morning, as we prep for fed minutes this afternoon. a bunch of earnings reports that greece will ask for that loan extension tomorrow. oil's giving back still comfortably above $50 at 52.307 the ten-year 2.12 that's just about the high for the year. road map begins with the markets. stocks mixed in premarket, dow looks to make historic thousand-point gain in the month of february. >> warren buffett announcing he's exiting an investment worth more than $3.5 billion. yeah. which one? we'll tell you. >>> the ceo of monthdelez, sitting down with sara eisen. talking about the state of the consumer later this hour. >>> first up

number two story on the hot list today, amex and costco apparently couldn't reach a deal, by the endand try to use your american express card, they could say, sorry, we don't take that here. that usually happens in restaurants and stuff. apparently the high fees did it. kelly, we put up your interview with charles barkley on the website. it is crushing it right now. especially his comments defending james dolan and calling out the trolls. we're getting ready to put up the shaq interview, too. i expect that to crush it. those are great afternoons. >> it's been a fun afternoon. alan, thank you so much. back at headquarters. >>> former sony pictures co-chair amy poehler speaking out. she was speaking last night about pay discrepancies between men and women in hollywood. will her marks get her in even more hot water. the panel will discuss. we're back in two minutes. so you can enjoy that second home sooner. know the right financial planning can help you save for college and retirement. know where you stand with pnc total insight. a new investing and banking experience with personalized

amex said their rates were not in line with other credit cards.tomers coming in at 13%. one analyst say it is an unusual move with the fed holding down southwest rates. american express earlier this month you may remember lost its exclusive deal with costco so who knows if that had something to do with it. >>> this time morgan stanley agreeing to pay $2.5 billion to pay claims from the mortgage bonds. all told the major u.s. banks have paid $130 billion to the federal government. >>> a couple near detroit is getting used to a full house after welcoming three new babies at the same time. lauren and michael whitely are proud parents of identical 1-month-old triplets. it's a rare birth, conceived without the help of fertility drugs. their older brothers are two and three years old. >> i always wanted a big family and i guess this is the way to do it, all at once. >> all at once is right. identical triplets conceived naturally occur one in 60,000 to one in 2 million births. whatever the numbers are, the whiteleys are calling it an act of god. >> see t