we bridged the cliff and blackstone has rallied some 30% since then. and now i think blackstone works as a nonspeculative investment based on the strength of its fundamentals in 2013, long runway. see, the company reported at the end of january, and the conference call was extremely bullish with ceo steven schwartzman saying they're at an inflection point, meaning blackstone is going to get aggressive about exiting its position in order to take profits in this bullish environment. blackstone gets roughly 24% of its revenues from private equity, about 24% from real estate, which we know is getting better, and 27% from its credit division, the company's fastest growing segment. along with 16% from hedge funds, and the rest are advisory fees. management said they see substantially higher realizations over the next two years. that's wall street speak meaning that they intend to sell a lot more properties because they think they can get good prices. i agree with them. and as for the private equity side, in the last two years, blackstone has brought eight of

the jump ran a story saying basically dell is open to staying at blackstone, blackstone is open to keeping here in used out of context. here's what we know from people close to both blackstone and people close to dell, also acknowledge. first, that blackstone executives say that michael dell will unlikely remain at the company if black stope -- >> generally don't. they are not closing the door completely, but say he wants to be the puppet, yes. liz: i'm a puppet. >> by the way, brian burrows book is an amazing book. liz: great. >> a goof on the financial crisis -- >> up against your book. >> no. he wrote something stupid about me years ago in "vanity fair." liz: given the rope, charlie will -- >> it was stupid. know why? he said i was responsible for the implosion of bear sterns. we're not getting into that. taking over jjr by kkr, another private equity firm, and they said they would keep the head of rjr, ross johnson, could keep him in there if he wanted to be the puppet, and that's the same thing here. liz: honest. >> exactly. that's what's going on here. the -- it -- you can never rule

remember i told you blackstone has an executive working there who just left dell to work in blackstonesting, dell has come out publicly what these reported that they think a blackstone deal is management friendly. i don't think it will blow up enrichment, it is not a hostile takeover, so to speak. one of the reasons why is because of this guy, johnson. remember, and dell had a noncompete clause at least in the next year. typically johnson can't work in a private equity deal involving dell which we understand dell released him of that clause is we issue him a waiver so he couldn't work on this deal. as a former executive working with blackstone on the deal, the management has no problem with that, the question now is does dell wants to go forward with this? take carl icahn out of it, i think it is a joke. do you really think he is going to win? no, it is a joke. hopefully he doesn't make anything, but the reality is, it is between blackstone and silverlake and dell. they can't just throw it out of the air, they came out after stunning it -- studying it. they know this is a hard deal to

david johnson joined blackstone from dell last february.nteresting he is working on the bid. they waived sort of noncompete clause that was on his contract so he can work on this. so that is one reason why they think this thing is management-friendly. why blackstone does have a shot because of a former dell executive would obviously be part of the management team. that is one thing we learned. second thing we learned, you talk to people at blackstone, they really think they are not in the driver's seat on this they think their odds are less than 50/to sort of win this thing. they still think that silverlake will prevail, silverlake and dell and michael dell the combined bid for obvious reasons. they have to go through due diligence. silverlake and dell spent a lot of time coming up with $13.50 offer. theirs is 14.25. they think silverlake and dell in the end will prevail. they're in there and they're serious but still they have a leg up. they have been talking to investors. they have a fairly compelling deal on the table considering the fac

blackstone is interesting.ll make money off of the advisory fees, so take them out of it, but blackstone, i believe is a former partner at lex own that had worked at dell. i think there are some synergies here. there is some connection with dell or silver lake or something. liz: raise your hands if you have a dell computer. charlie: if there is a business here. have you ever seen my cell phone? here is the theory, they can change, it is easier to do that as a private company a to post a public company. that was the theory behind the silverlake deal, the blackstone bid on this thing you can retool it. like ibm did it much earlier, a different firm. a big-time consulting firm on technology. little different. now to retool like that, everybody is very short-term oriented. you can retool if you are carl icahn. this guy has been taken serious, he knows about as much about computers as knows about herbalife shakes, zero. i am not saying, ever listen to him talk about the herbalife shakes? can you imagine. liz: do not

, so you've got -- if the blackstone deal came together, you've got a buck worth of upside.got 20 cents worth of downside. that's a carl deal. >> the interesting thing in all of this, bk, over the next 24 hours or whatever, michael dell essentially has to make the case to the share herald holders that our company is so bad right now. >> that's right. >> it stinks so much, that you have to approve this deal. >> yeah, yeah. at 13.5 bucks. the risk reward just changed on that report right there. i mean, before you had a 13.5% floor and two or three other bidders, icahn coming in, but you know what? that's all changed now. if you're in the stock how you trade it you wait. see if it comes back even more. maybe it gets under 14 bucks, then you know what your risk reward is. 13.5, you're roughly stopped out. >> nike earnings are on deck after the bell. we're watching that closely. lately the stock has been enjoying positive momentum with shares rising 11% over the last six months. is it time to fade the rally ahead of the rally or earn more? we're debate it. jon is our bull and sim

blackstone will come in and make sure they get their money out. leverage it up and you're left with what's left. >>> much more coming up on "the half" right here in orlando, florida. the head of investments for north america is going to join was his view on the markets including how to ride the volatility roller coaster. >>> coming up later on 2929 entertainment, todd wagner is back. he's going to join us with the rest of the hour. we're going to talk about tech and media and the economy and much more when a special edition of "halftime" returns from right here in orlando, florida. >>> welcome back. live today from the tavistock in orlando, florida. overseeing $250 billion in global assets under management. happy to have the man who makes the investment for the clients. the u.s. equity markets? >> we are looking at a time of transformation. we think that represents opportunity. we see the uncertainty in the markets and business environment has been reduced. which it does set up though is it's going to make corporate leadership to dividend increase

does blackstone want you to be the ceo? these are serious questions. >> is anything you just said different than the times or the journal? >> a little bit of it. >> who calls who? did they just start making calls yesterday, the people involved with this? how did this work? >> no, no, no. the news this morning is that actually the board -- >> this is different than what the journal has? >> yes. they've decided to move forward with this. >> but these are the terms of the deal. >> right. you could clearly say so yourself, these aren't likely to lead to interior proposals. >> because you need to know the details. >> and you need to know that it's a real deal, meaning it's a firm deal. what they're saying is it could lead to a superior proposal, so they're going to negotiate, negotiate with negotiate. >> wow. >> there you go. >> tired already? >> those are interesting. i like the details because you can look at the details and try to figure out where the weakness is. >> would you take -- you think they're all weak? what are you

southeastern management, another big minority investor, also likes the blackstone bid. they like to have the seat at the table. what we're hearing, too, blackstone has what are called the highly competent levels where they can get financing for the deal but michael dell would be ousted if blackstone wins in the battle and you could see a breakup of the company. what we're hearing at this hour, too, is that michael dell could increase his offer for dell beyond the $24.4 billion. he can throw in more money to outbid them. you may see the bid offer going up north of $15 a share. that's what we're hearing right now. this is a developing story. we'll be bringing you more as the story develops. you may see the proxy out on this deal tomorrow or thursday. you may see more talk of a deal, the board deciding on a deal next week. back to you. dagen: thank you. connell: more so than gold or silver, investors looking to copper and that you can say it's good for the economy. dagen: you do not want to miss sandra smith in today's trade. dagen: copper gaining ground on pooitive news.

>> ennis is right but go with blackstone. it's going higher. >> doc? >> state street. >> murph? >> ingersoll rand. >> follow me on twitter. have a great rest of the day. "power" starts right now 37. >> thank you. we start with breaking news all over the financial world. the markets are up big across the board and, in fact, we're closing back in on the all-time s&p high. we're waiting on the fed's decision. that's less than 60 minutes away. plus, big news from russia and cyprus as that nation's financial structure is on the brink. the implications for europe and the u.s.? well, who knows. tyler is going to lead us through that. we're going to start with bob pisani. risk seems to be back on in the market a little bit. >> that's a good point. for a long time the bears have been insisting that the global economy is not as healthy as this teflon stock market in the

this guy johnson at blackstone.s something. >> there is no secret sauce. >> that's my point. >> i know, and you've written about it. the concern had been on michael dell's part that, you know what? i can have a piece of paper and people watch it go down while trying to transform this company? i'm a consumer company to a certain extent and people see that, businesses see that. are they still going to buy our product? that's a concern there. we've seen stubs before and sometimes they work and sometimes they don't. clear channel communications down 85% and we've also seen management buyouts and i know lee cooperman say it's a form of insider trading and we've also seen some, harrah's sold to you at 90. thank you very much. >> that's a very good point. unless these guys are going to go into mayonnaise, ketchup. bleach. right now that goes at 18 times -- and they can do that with the private. >> hp said come on in. the water's fine. some people said we might actually think about that. >> in the meantime, pinnacle foods c

but you're reading headlines about blackstone. >> in other headlines this morning, blackstone would reportedlyeo. that could sway michael dell to abandon his own bid in favor of blackstone's offer. he doesn't really want to work for david johnson, who used to work for him, who now works for blackstone. >>> a merger would form the world with's biggest airline. anti trust regulators still need to give their okay. and running into new resistance. iss is urging metro pcs shareholders to vote against a proposed merger with t-mobile usa. it under values metro pcs and shareholders have been campaigning for a negative vote on that deal. >>> the first quart other a strong note. s&p still courting its all time closing high of 1565. we're joined by mike santelli, barbara morrison. i'm going to start with you, barbara. you're not impressed necessarily with the position of the economy in terms of whether it's accelerating or decelerating. you think it's stuck in neutral. >> that's right. i don't think we have any momentum here. the most recent numbers showing capital goods mediocre, defense and aircraft, c

the latest is from carl icahn and blackstone.on we're posing, answers on the power rundown are up next. >> i am the king! >>> i have a market flash. monsanto charging higher, near session highs, the news monsanto and dupont declaring a cease-fire, the rivals agrees to a series of technology licensing agreement for seed trades. dupont will may monsanto 1.75 billion. monsanto agrees to toss a $1 billion jury verdict against dupont. analysts at jeffries lowering the estimates on dupont for this year and next. >>> let's see what's coming up on "street signs." it's another guy from the united kingdom. >> hello, tyler. we have a special edition of "street signs" today with all the crew. we're going to show you where house prices are up 17% on last year. we're going to take you to the most expensive penthouse that money can buy. we'll look at the cleaning up of tiger woods, in more ways that one. how can a kid age 17 create a business worth $30 million, and more importantly, are we too old to copy him? >> i sure hope not. we'll be watch

blackstone proposed paying $14.25 a share.ell left alternative for takeover proposal making offer of just under $14 a share with silverlake partners last month but says blackstone's offer looks management friendly according to sources. dell shares up 5% since takeover talks began but a special board committee has yet to decide if the new offers trump the existing merger agreement. i think original merger agreement was $1.85 a share. a lot bbtter offers coming in -- 13.85 a share. tracy: translates to more money. let's talk more about these markets. stocks opened higher but quickly retreated on worries over cyprus and europe. market is coming back a little bit. down only 48 points right now. our next guest is recommending a defensive portfolio. doug cote, ing investment management chief market strategist. thanks for being here. we've been talking a lot how the fed spigot is open. the money whip keep coming. get your money in market regardless where it is. >> you want to be in equities to build wealth but i would say be more bro

this is blackstone and carl icahn have sent in deals.bids exceeded the buyout bid from dell and silver lake management. investors might hear tr dell's board on both plans as early as today. michael dell currently owns a 15.6% stake in the company. >>> now, it's within four years and counting sings congress passed a budget. the senate has narrowly passed its first budget proposal over the weekend. $11 trillion in tax increase over the next ten years combined with spending cuts. the tax hikes combined with the cuts will start taking effect at the beginning of the month. >>> and further developments in the jpmorgan london wales case. the u.s. department of justice is in the advanced stages of an investigation into former traders in jp morgan chase's chief investment officers in london. the doj is looking into whether trade is endwaged in criminal misconduct and deliberately mislabeled certain complex missions. >>> and the sales of the latest smartphone for blackberry seems to be a buzzkill. it carried at at&t stores last week and will take

. >> blackstone got whacked this week.ust people taking profits on the back of what's been a tremendous run in the name. bla blackstone here, i think, you be long that name. >> next trade here, coal prices have been under pressure from oversupply and the record production of nat gas. have we seen the bottom in coal now that nat gas prices are rebounding? let's get the latest from francisco blanche. you said the worst is not yet over for coal? >> look, we think for global coal, we still see pressure on prices. there's supply coming from indonesia, australia, you have colombian coal coming through the pipeline. as you look at the u.s. market, maybe there's more support given the higher gas prices. >> can you separate it out for thermal versus -- is thermal poised to move higher? because we see so much pressure and it's all about china -- >> right. it's basically used in steel production processes. completely for market to thermal. that's purely power generation. the market that we think is particularly weak is thermal. it's

dell opened the door for a bidding war on monday, inviting blackstone and carl icahn to make firm butter proposals. dell in frankfurt is down 0.75%. >>> yahoo! has snapped up the mobile news app. the app was created by teenager nick delosio and it simplifies news into quick snippet smartphones. the technology will be shut down for now, but back open for business under yahoo!'s new leadership. speaking first on cnbc, louisa sat down with the 17-year-old founder and asked him why yahoo! and not apple or google. >> i'm excited about joining yahoo! because i think it's a classic internet company and it has new leadership under marissa mayer. having spent time on campus and spoken to their team, it's clear that their strategy on mobile and daily habits, news, information, weather, they have all of these assets and all they need to do now is package it up in a beautiful user experience from the mobile device. there's a real opportunity there. we see sumly fitting in beautifully to that model. >> schroeders will create an independent private wealth and banking management business. if you thoug

sam blackstone takes owes a tour. >> we had a space in a garage here, and we thought we would try itreporter: in a berkeley, california, warehouse property developer patrick kennedy tested his ideas for a tiny apartment. >> so is the idea with this let's just see how small you can go and still survive? >> yes, basically. >> reporter: the design kennedy calls smart space 1.0 turned out to be not so smart in some ways. 166 square feet in all, the shower soaked the toilet paper. the stove top lived in a drawer, and the couch that turned into a bed was too inconvenient. space is at a premium in many big cities, driving up rent, so microapartments are seen as one possible answer in cities like san francisco, seattle, and new york where mayor michael bloomberg backed the competition for the best design. nowhere are apartments more expensive than san francisco where an influx of young tech workers keeps demand high. >> the other change we made -- >> reporter: so san francisco is where patrick kennedy has built smart space 2.0 incorporating lessons learned in his prototype. the four-story bu

john blackstone spoke with the artist. >> reporter: the lights moving poetically across a two-mile span of artist nathan villarreal. on his laptop he put the latest touches that transforms the bridge into a light sculpture. >> this is a unique opportunity. 50 million people will see this over two years. it's something anyone can see and engage with. >> reporter: electricians spent four months in the wind and the cold installing 25,000 l.e.d. lights, each individually programmed to a fiberoptic network. villarreal then began sculptoring the light into patterns he says will never look exactly the same. it changes constantly. how do you do that? >> well, using software. there are sequences which will be displayed in random order in random amount of time. some may recognize the same passage but never in the same order or at the same time. all the motion factors into my creation. water, birds, it's abstract and open-ended, but you can see what the roots of the inspiration are in the sequences. >> reporter: for 75 years the bay bridge has been san francisco's other bridge, all in the shadow o

john blackstone, cbs news, san francisco. >> and that's the "cbs evening news" for tonight. us at cbs news all around the world, good night. captions by: caption colorado comments@captioncolorado.com >> your realtime captioner: linda marie macdonald >>> good evening, i'm elizabeth cook. >> i'm allen martin. the oakland police department has a new babysitter. >> a federal judge has appointed a former baltimore police commissioner to oversee the embattled opd and among his authorities, the power to get rid of the police chief. kpix 5 reporter linda yee with the latest voice who will be weighing in on how to run a troubled department. linda. >> reporter: well, liz, the city of oakland will now be spending more than a half million dollars for two police consultants. the first one started last month. he is advising police on how to better fight crime. this latest court ordered consultant now will be monitoring police behavior and is no stranger to that task. compliance director thomas frazier already criticized how oakland police handled the early "occupy" demonstrations. the cop

he would like to roll in with blackstone. and i would imagine ultimately would probably want to cash out with blackstone. i'm not sure he ever really wanted to hang out for the next five years and see what happened. >> i think he wants to put a multi level distribution system on dell. you pay distributors to buy the dells and no one actually ever uses them. >> why don't they merge dell and herbalife doing. >> he's a gut instinct guy that looks around and says, i can make trouble, get an extra buck or an industrial 50%. >> he was watching us talk about king pharmaceuticals and he was shaving. he decides to do things on a -- motorola, what did he know about cell phones? >> if you have that much money on, you can throw your weight around and is make yourself be heard. >> he was down to hundreds of millions from billions and now he's like ba like 20 billion or something. >> yep. >> amazing. >> and here we are talking about him, very seriously. >> and he has no idea. >> because he's sleeping. >> he's so asleep. >> so you can say w

yet blackstone, an icon, they're all covered by this company was going on? >> i don't get it.the outside it looks like the company is thinking and they are at the wrong problem. there in the pc business. the offer is always sitting higher than what michael dell offered at 1365. the start of the pc provider and his texas dorm room. the big winner here is h-p. they don't even know was going to owned bell and the future, do business with us, we will be around. for dell, it is the 1990's there cut, a bad idea. >> the other two deals don't even have michael dell and that. >> he has said he is willing to stick around and work with his successor. it is not that he is not in it, it is that the writing is on the wall. he took the first that. the bart directors the dollar due in the right thing and reviewing bids. the pubcompany could still be publicly traded. it is probably not best for michael dell. >> anything you watching? >> yahoo about a new start up that was started by 15 year-old child. i say that lovingly. that is about all i have. >> a short trading week. the snb had a record

, then have blackstone go out and buy a company for you, go buy a technically-sensitive company. >> maybech that they just want to steal all your technology for us? >> no, but they'd be afraid if-- if they don't do what you want, that you'll pull the money out, and then they'll collapse. >> if you think things along that line, then there'd be no stopping because... >> chinese businesses come under severe criticism for their secrecy. so one way mr. gao could deal with the suspicion would be to make the fund transparent like norway's sovereign wealth fund, which is considered the gold standard. it has a detailed mission statement, earnings reports, and an exhaustive web site listing all its assets. china's fund has a web site too: just one page, which is basically a link to a job application. mr. gao made an unexpected commitment, as he gave us a tour of his offices. look at this wall. what do you think? it's very transparent. >> it is. this is what we meant to be. >> is it a metaphor? >> yes, i think so. >> well, you don't have any transparency. i mean, you--you--you're-- >> yes, we do. >>

remember, blackstone, our favorite private equity firm, has a huge inventory of homes. now, i heard people fretting all day that blackstone might get hurt when they go to sell them. in fact, the opposite is true. thanks to the new homes being put up and the need for rentals, blackstone's making money with its home collection. it can rent them, sell them. you would think we could get into the home flipping situation with that advance, prices up 15% in vegas, 12% in minneapolis. but unless you are a huge private equity firm with lots of capital, lots of firepower, you do not have access to mortgage money on a second home, and there's no mortgage money for investment property in most areas, even if you're willing to put down 50%. none. believe me, i know. the same thing's happening in the hotel industry, as you'll hear later from ashford hospitality, a big hotel-owning real estate investment trust that's seen its revenue go up in the high single digits. why? simple. because the industry's not building. they're not putting in new capacity. there's not enough credit, there's

blackstone has until midnight on friday to make a final decision on dell. back to you guys. >> josh, thank you very much. >>> quickly before we tease what's coming up next, we want to ask you this. and i put out on twitter, mandy did as well. what do you think? is cyprus, "a," a huge lehman-like black swan event? two, relevant but not dooming, or three, insignificant noise? >> we've already got great answers in. and please do keep on tweeting us. >>> on deck, it's like those richard scarry books. with all that's going on, why isn't gold surging more? >>> plus, we're going to debate one company's plan to punish employees if they do not disclose their weight and body fat. that's coming up. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. clearly >>> you clearly notice we're sitting on a down day. we are looff t

blackstone is ringing the register on its investment by taking the company public.ecent history suggests these deals are now performing extremely well. case in point, since the beginning of 2013, we've seen 30 ipos, 13 backed by a financial sponsor like private equity or venture capital. the average ipo this year spiked 15% on the first day of trading. these 13 financial spots ordeals were up an average of 22% on the first day of trading. these private equity firms look like they want to make money on the first tranche they sell. i'm not recommending you get into pinnacle on the first day. i like the fundamentals of the underlying company. pinnacle has a lot in common with b&g, it given you 128% return with reinvested dividends. i wish b&g would explain the last quarter. pinnacle has a habit of acquiring neglected brands. think pinnacle's log cabin, vermont maid, and breathing new life into those brands. that's what the company did when they bought duncan hines. my mom would call it drunken hines for no good reason. she would never use it. pinnacle did the same thin

if blackstone does put in an offer, it would likely team up with another firm.ht now, biocompanies have until midnight to put in their bid. >>> now in the u.s., stocks are trying to shake off their worst day in more than three weeks. but even with that setback, major indexes are still on track to close out the week with monthly games. we'll keep an eye on the action and take a look at what could happen in markets when we come back. [ male announcer ] i've seen incredible things. otherworldly things. but there are some things i've never seen before. this ge jet engine can understand 5,000 data samples per second. which is good for business. because planes use less fuel, spend less time on the ground and more time in the air. suddenly, faraway places don't seem so...far away. ♪ >>> you're looking thou at live pictures. there's our very own steve sedgwick, in fact. well timed. european commission jose manuelso is holding a press conference with the russian prime minister dimitry medvedev. this conference was well planned ahead of any issues from cyprus. we'll keep

wall street icon steve schwartz man, ceo of the blackstone group joins us.on the markets and what deals might be in the pipeline for the pe giant. and foursquare ceo and where he and his company got their start. we're find out what they're watching root now in tech. social media, what's next for four scare. the airline sector up an impressive, some say unbelievable 20% right now with the airline set to report a rare profit for the first quarter. which airline is the best bet for your portfolio? we will show you how to play it. >>> first up though in his letter to shareholders this morning, jeff immelt saying that growth will be better abroad than here at home and the company's top priority in 2013 will be growing the stock divide dividend. his confident in the strength of emerging markets. u.s. is a major place of volatili volatility, in his view. immelt citing the fiscal cliff and increased regulation among other reasons. ge plans to return a total of $18 billion to investors this year through dividend growth and stock buybacks. as ge promises to grow the d

blackstone is one of their big, this is key for their big client. blackstone says they are not sure if they will pull money out or not. steve collins own net worth of $9 billion fund, that alone makes it one of the biggest hedge funds around. theoretically, they could they open. i do not know how you have a public hedge fund when you're number two guy is indicted. that is a huge blow. what is mr. steinberger saying when he is facing ten years in jail? they make a huge thing out of it. the knucklehead who sent the racist and nutty e-mails, he was the guy that came out and said the fbi showed up to his door, he got four years in jail or marginal stuff. mr. steinberg is looking at much more than that. they get guys around the guy in the middle. remember that great scene in godfather two: there are lots of buffers. they go after them and that is how they get the guy at the top. nicole: even though the markets are close, we have a few economic reports this morning. our u.s. consumers feeling confident with the state of the economy? our very own elizabeth

the call announcing that carl icahn has offered, and blackstone has offered. both offers are better than dell's deal at $13.65 a share. and the shares have traded above that price since dell made his offer. and they were up more than 2.5% today. closing at $14.51. investors seemed to like that founder richard schultz will return as chairman emeritus and add two of his colleagues to the board. the move was seen as positive because schultz won't sell his stake in the company. shares almost 2% higher today. >> apple says it's bought wifi slam. this allows consumers to use hot spots on their phones. this will allow them to find a restaurant in an airport. apple report delay paid $20 million for the company. shares rose almost $2. apollo group which operates the university of phoenix and other for-profit educational institutions, reported a 79% drop due to lower enrollment. the stock was the biggest gainer in the s&p today, up more than 7%. coming up, we'll look at why some college graduates are having trouble with education debt and what some schools are doing abo

private equity fund blackstone group is offering $14.25 a share. michael dell initially offered $13.65 per share to go private. dell closed monday at $14.51 best buy's founder is back on the board. richard schulze will return to best buy as chairman emeritus. schulze says he is coming back to "support the initiatives" of current ceo hubert joly. joly took over last july after schulze left the company. since then, schulze missed a window to purchase best buy, and, under joly's leadership, the company has seen positive results. two silicon valley startups are headed for the big-time. yahoo has just acquired the mobile app "summly," which provides users with summaries of news stories, breaking them down to just 400 words. summly's founder is only 17 years old, and reportedly $30 million richer after selling his tech company. meanwhile, apple has bought wifi-slam. that app markets itself as an "indoor gps." the wall street journal says apple spent about $20 million on the deal. t-mobile is expected to go contract-free today. it's a challenge to traditi

competeding bids from blackstone group and billionaire carl icahn are being evaluated. if either is chosen, mr. dell could be out of a job. >>> the biggest lottery payout in new jersey history. the one winning ticket to the $338 million powerball jackpot was sold in the garden state. but as of right now, the winner has not yet come forward. >>> up in the sky, it's a bird, it's a plane, no silly, it's good year's newest blimp. look closely. the three new iconic blimps being built in ohio are getting a high-tech makeover including an interior skeleton, three engines instead of two and rotating props will allow it to take off and land like helicopters. it can also hover longer at sporting events. cool. >>> speaking of iconic, this diamond and sapphire ring was presented by napoleon bonaparte to his young fiancee, josephine. at the time it was valued at $20,000. over the weekend that ring sold for a whopping $949,000. >>> london has known theater for hundreds of years. starting with successful william shakespeare. today the most successful have the names of matt stone and t

but blackstone has been a monster the last six months. just from where i look at it, bx to me is the best out of all these things. >> in terms of using capital, maybe buybacks aren't the best thing at this point given the run. maybe you want as a shareholder to be repaid a dividend instead if you had to choose one or the other. >> oh, i personal prefer buybacks because i would rather they capture that earning stream for the shareholders that don't sell into the buyback. for bank of america, also for jpmorgan. >> if you look at the way bank of america is trading, the market is telling you that they much prefer a buyback. i know there are some issues with bank of america. but still, most investors would prefer that buyback. >> okay. well, let's get to the overall markets. and of course the traders. the dow makes it ten winnings sessions on the row and the s&p inching closer to a record high. what is your top trade of the day? let's go around the horn. bk? >> let's start with me. the euro the top trade of the day. a couple of events coming u

people he was talking to saying it's unlikely blackstone was going to get involved.ock move? >> it went down yesterday. without michael dell this deal doesn't happen. >> let's hit unusual activity in micron. shares of the semi-conductor company popping after earnings. pete, what's the read here on the unusual activity that you're seeing? >> yesterday actually there was a huge amount of buying of the may 10 calls. 180,000 contracts total in micron trade yesterday. that's not necessarily totally unusual going into a number like they reported but when you look at where the calls were placed and you look at what they were performing like, 42 cents today trading 70 cents, now trading above that level. an 84% gain overnight. >> coming up on "the half," not so fast dr. j. it's your turn to manage a bearish bet gone bad. we're not talking about the shirt and tie combination either. >> this is a great shirt and tie combo. >> we trade it, four plays on four stocks. josb, halftime is back in two minutes. i'm a conservative investor. but that doesn't mean i don't want to make mo

you're seeing these individual investors being priced out by the big bulk guys, like the blackstonese world. and so, again, you're not letting the regular, organic buyer back into the market. we spoke to a couple today, a newlywed couple, who wanted to buy a home in northern virginia. they said there are six offers on every new house that comes on the market. there's just nothing out there that they can get into, and that is because supply is so little. >> and daniel, the supply is so little. do you see that ramping up over the near-term? >> almost certainly, right? if you're a builder and you see supply this low, you see prices rising, it seems like a great time. but it's unclear that demand will be able to, you know, reach that supply, if these investors stop buying. which before long, they'll have had enough. and if they don't like the returns they're getting, they might start dumping that stuff back. and then you're going to have, again, an oversupply of builders that start dumping this stuff back, which is a huge problem. >> yeah. chris, what would you expect from the market, ev

competing bids from blackstone group and billionaire carl icahn are being evaluated.er is chosen, mr. dell could be out of a job. >>> it will be the biggest lottery payout in new jersey history, folks. the one winning ticket to the $338 million powerball jackpot was sold in the garden state. unfortunately i didn't win that. as of now the winner has not come forward yet. >>> up in the sky, it's a bird, it's a plane, no, silly, it's goodyear's newest blimp. can't you see that? they are getting a high tech makeover including a an interior skeleton. three engines instead of two and rotating props will allow it to take off and land like helicopters. it can also hover longer at sporting events. so get your cameras out. >>> speaking of iconic, this diamond and sapphire ring was presented by no pole yon bone part to his young fiancee josephine. at the time it was valued at $20,000 at the time. but over the weekend the ring sold for a whopping $949,000. and, all right, london has known theater for hundreds and hundreds of years starting with the successful william shakespeare.

now carlisle, blackstone, kkr and apollo manage half a trillion dollars. but only a tiny fraction of that total are open to retail investors and most of them have just launched in recent months. morningstar, which rates mutual funds, waits three years to evaluate a fund's track record but for these funds in the short time they have been open, the s&p 500 has proved a better investment. for "nightly business report," i'm kayla touche. >>> a lot of movement in technology. blackberry again the most active stock as it booked an order of more than a million new z-10 smartphones from an established partner company. netflix was the biggest gainer of the day, up 12%, as it goes social, giving users a tool to tell their facebook friends what they're watching, however dangerous that might be. and facebook itself was down more than 2%, as the ftc tells social media companies to make sure their ads on their screens are clear and truthful. >>> google announcing an executive change in its android division. andy reuben is stepping down. who's andy reuben? he's the guy wh

something that other shareholders don't and to some extent now that we have a separate offer from blackstone who came with a bid of $14.25, against michael dell's bid of silver lake of $13.65 and an additional bid of mr. icahn of $15, you could say that perhaps the original bid was too low. >> you know, john, dell was once considered one of these tech darlings that could do no wrong, and it seems like the issue here, whether it's a private company or a public company, the business model is out of date. how do they survive and how do they make that changeover? >> well, they got so big and so popular making pcs more efficiently than anybody could at the time and what happened is everybody else got better at making pcs ask now pcs are less popular than they used to be as people use smartphones and tablets. so what they need to do is one of two things. either figure out how to be a great mobile player and they tried a couple of times and have them figure it out. they're doing a bit better at that, but this big pc weight is just dragging them. >> that was one of the big issues here, right? that's

all people standing around here, a lot of blackstone guys, lot of family members.really nice group of people here. a lot of them long-time employees of the various companies that have been owned or acquired by pinnacle food over the many years. bob's coming right over here. this is what we do here, have this great organization set up so that people can come, make that first trade, and turn around and go talk with the guys over here. it is all set up for you, the audience, to learn something about what's going on. $22.40 right now for pinnacle foods. >> thank you, bob pisani. >>> as bob mentioned, pinnacle foods off to a very stropg start in today's session, up by 12%. the ceo will join us at post nine next. recognize me. but i am your market data. i know what you're looking for. i'm not chained to your desk anymore. i'm faster and smarter now. and so much less expensive. i am your market data. and if i do say so myself, i have never looked better. superderivatives introduces dgx. data done differently. >>> pinnacle foods debuting here at nyse today, up by 1.5%. 20