gerald cowan was later convicted of manslaughter for killing his father-in-law. only two years in prison for that crime before he was released on parole. prosecutors believe robert cowan was one of the men seen near the mercks' home by the neighbor. based on the forensic evidence, prosecutors say robert cowan and an accomplice broke into the mercks' home through the back door. cliff merck probably went for his gun to defend himself and robert cowan grabbed the pistol and turned it on cliff. [ shots ] the men bound his wife, alma, locked her in the closet and left her to die. robert cowan left his fingerprints on a tray found in the living room and by the back door as he left. the cowans pawned some of alma merck's jewelry, then sold the gun to a drug dealer who altered the rifling marks of the gun barrel, but it wasn't enough to fool a forensic scientist with his new-found ability to see inside the barrel. >> something inside me says hold on to these bullets, you're going to find the firearm. and lo and behold, it happened, way down the line, almost ten years lat

next. >> here again is lee cowan. >> cowan: it's a guest cottage with a thatched roof.nd. turns out thatched roofs aren't the only kind of roofs disappearing. with christine johnson we take a tour back in time. >> there's a place in lake george, new york, where the past is a thing of the present. that is the original roof? >> that is the original orange roof. >> you have the weather vane up there. >> howard johnson's founded near boston by howard d. johnson was once the biggest restaurant chain in the country. ♪ with roughly a thousand locations during the 1970s. >> could i bring some dessert? >> no, just orange sherbet and two spoons. >> the sherbet and ice cream were staples for so many americans growing up in the "mad men" era. >> welcome to howard johnson's. >> and even younger ones, too. >> i remember howard johnson's. we used to pile in the car as kids. >> oh, yeah. that's what they did. pile in the station wagons. we're all going to howard johnson's. >> and businessman john larock is betting they will do it again. howard johnson's restaurants all but disappeared

here again is lee cowan. >> cowan: country music has a way of summing up summer fun.ackson. you captain beat the way an old boat rides. he collects wooden boats like this. but never lost touch with his small town roots. as we found out when he invited us to nashville. ♪ he's nashville's nice guy. a man with a warm-hearted heart. can sing the phone book it would probably be a hit. he's country's storyteller. alan jackson. >> you sing a song about heartache, brink drinking dancing, all these things that have bin my mind. ♪ >> it's what makes life. ♪ >> there's no flash to jackson. just a man and his guitar. he had a blinding assent to the pinnacle of country music. 60 million albums sold. his latest "angels and alcohol." ♪ comes 25 years after he first topped the charts back in 1909. 1990. >> my voice gotten deeper in my old age. i don't quite sound up here like this. >> at his home outside nashville. there are shelves, he can count among his fans even those who once lived in the white house. >> oh, man, i'm outta place there. >> never forgotten the night he endnd up ne

>> it's "sunday morning" on cbs here again is lee cowan. >> cowan: that's the funny girl amy schumerg hit on tv as well now she's bringing her provocative brand of comedy to movies. mo rocca has our sunday profile. >> i'm like, you're welcome. he's like, is that on -- >> why is sex such great source material? >> because it's an opportunity to be really honest about something that a lot of people aren't being open about. if you can be that honest about something that's so seemingly forbidden. that's when most ridiculous stuff happens. just like, as soon as i start talking about sex. >> amy schumer will tell you exactly what's on her mind as she did recently at sold out show at new york's beacon heater. >> i'm a good person, i swear to god. i i adopted a rescue pug this week. right. i'm sorry. i bought a pair of uggs what did i say? >> just in the last few months things have changed so much for you. >> totally. but now it feels like i went from this one level to just like a giant leap. we need the professional. >> now she's starring in a movie that she wrote. >> is that true? >> no. >>

so i look at under armour, i look at nike, and i agree with them and we agree with them at cowan.hose two stocks and i say we've been well ahead of it on the athletic side and we believe there's going to be continued momentum there. i do believe it's a shake-up and i do not believe it's an overvaluation here. >> my preferred play in the space has been under armour but at 100 bucks it seems to me to be a big stretch tradingwise. i'd probably take a little bit off here. fitbit's fine. i don't see it as a stand-alone company. they're either going to be run out of the market via competition or somebody's going to buy them. but this is a bigger picture that's going on. you look at something like under armour where they can use these apps and use fitbit to sell more products. ? then you look at a garmin and apple with its iwatch. >> garmin's probably where fitbit's going to be a few years from now. garmin has seemingly become commoditized if you look at the stock. let's talk about fitbit. they report on august 5th i believe. huge day today. huge run. valuation is ridiculous. the short i

>> he has plenty of pictures of michael cowan with hillary clinton.ed himself with guys like that. and, frankly, whether or not cowan was right or wrong, which was abhorrent, what he said. suddenly, donald trump is leaving this to his minnons. you're talking about an establishmented guy. you have the audacity to call somebody a minnon? who do you think's been attacking conservatives for the last election cycle. >> one at a time, please. >> he's not a conservative and hasn't been a conservative. he is a long time liberal. he is a grie who has been pro-abortion, progun-control. this is a guy who's conning conservatives. he's running a scam on conservatives. >> absolutely not. >> and this is a fraud executed by a tv character. >> he's not running a scam. simply because -- you want to know the reason why so many people are flocking to donald trump? you might want the look in the mirror. the republican party has failed for decades to govern as republicans. you can talk about liberal policies all day long. republicans are supporting liberal policies right n

fox news correspondent claudia cowan in san francisco with the report. >> reporter: lou, fox news has confirmed that the gun that was used to kill kate steinle was stolen from a law enforcement ranger with the bureau of land management. it was stolen out of his car while the ranger was here in san francisco on official government business last month. exactly how illegal immigrant francisco sanchez got hold of the gun is unclear, he appeared shaken and confused repeating over and over through a spanish interpreter, i'm not guilty, i'm not guilty. despite telling a local tv reporter he did kill steinle last wednesday after finding the loaded weapon wrapped in a t-shirt. defense team may try to get the charges reduced, telling reporters the shooting was an accident, not murder. >> we can confirm that mr. sanchez did not know kate steinle, and he had no reason to want her to be harmed in any way. >> reporter: but the district attorney's office says the evidence supports a charge of murder, adding that amid the national uproar over immigration reform and sanctuary city policies, it's impor

lou: claudia, thank you very much, claudia cowan from san francisco. we'll have much more on this story and this issue later in the broadcast. >>> turning now to the white house. president obama's men trying to put a positive spin on the second missed deadline in a week to reach a deal on iran's nuclear program. >> as secretary kerry himself said back on sunday, we have never been closer to reaching a final agreement than we are now. but there continued to be some significant differences that remain, and this is a view, this is a view not just of the united states, but the view of all of our p5+1 partners as well. so that's an indication that these talk at least for now, are worth continuing. lou: talk between iran and major world powers will continue until friday. a key problem reportedly iran's insistence that all united nations sanctions against iran be lifted immediately. that includes a ban on the import and export of conventional weapons or all sanctions be lifted immediately possibly. we'll be taking all of this up with former pentagon official

. >> now, police right-hand turn saying much about mrk cowan, only that he cement a lot of time in the bay and he's known in the area sitly as the koemp. >> thank you, cheryl. a man accused of killing one of their own. also there, the suspected's family. >> so i'm devastated for the officer who passed away. i'm devil stated for my son. >> that's another the suspected's mother. prosecutors produced enough evidence against estrada which makes him eligible officer the death pebble penalty if con virkted. >> police say they found blood on the floor board. they say they also found a 9 millimeter gun near the crime scene. surveillance video thoughed three people. estrada ended up at the opt. he would not answer how or who shot him. >> another officer that died in the line of duty. but this time, a valajo police officer 2011. the jury must now decide if he could replace. >> squl a sigh of row leaf tond. the homes have been threatened by the wild fire. fire crews report that the rag fire is 30 pnt contained. they also reopened high way 5028. d e if fire went totally all the way around the fenc

let's bring in lieutenant colonel bill cowan. quoting with this sl have a debilitating effect of the isis being able to move from raqqa. do you buy that in. >> i don't buy that at all. it might disrupt them a little bit. but you consider anything less than hundreds and hundreds of strikes is something that's a pinprick. i'm glad we're running the strikes. a lot of people in the intelligence community are saying let's start hitting raqqa hard. we know that's where the heart of isis is. but we're still pinpricking on those guys. we're not playing a serious game yet. >> clearly isis gained enormous grand in iraq libya, afghanistan, pakistan. does it appear that you, sir, that isis is growing stronger not weaker and if so what does that say about president obama's strategy or lack thereof? >> well it's a lack thereof. they're clearly growing stronger. even this weekend was a good example here in the united states, heightened alert by law enforcement, all of it attributed to increased chatter by isis. so look isis is on their way here

: good morning, charles ross good is off today i'm lee cowan this is "sunday morning."th anniversary of the birth of our country this independence day weekend. also the 150th anniversary of the birth of the u.s. secret service. agents are always potentially in the line of fire but usually don't notice they're there. but the secret ser

. >>> the beaches are closed at cowans gap state park in central pennsylvania. fishing and boating are still permitted. >>> 4:17 from our south jersey bureau. if you've ever wanted to own or possibly live in a light house, here's your chance. this baby here is on the auction block. officials are taking bids for the miah maull light station. the opening bid, $10,000. the selling price is expected to be much higher as may be your electric bill. >>> now your nbc 10 first alert weather with meteorologist bill henley. >> coming up on 18 minutes after 4:00. we'll see bright sunlight during the day today. clear skies right now. another beautiful morning. looking across the delaware no sign of any serious cloud threat. just a few scattered clouds 69 degrees in philadelphia. the humidity in the comfortable zone at 58%. one degree cooler than yesterday at this time. the rest of the area is running cooler, too. clear view from center city looking past the art museum. like yesterday, we'll see northwesterly winds blowing. that's dry air coming in to play. 63 in trenton and

lieutenant colonel bill cowan is with us. been stealing the headlines but, i guess we can't count al qaeda out either huh? >> we can't charles. this mirrors another jailbreak of three months ago where 300 hardcore al qaeda escaped from a prison in yemen. yemen is in such disarray across the whole spectrum charles not only difficult to understand. very difficult to try to explain but bottom line is, it's a shia-sunni divide. isis is there. al qaeda is there. iranian-backed houthis are there. it bodes ill for the region. it bodes ill foreafrica. charles: how come the white house held up yemen as example, shining example what can happen, what kind of progress canathathathath >> charles, thanks so much. outrage in oklahoma after the state court order has removal of 10 commandments month you meant. father jonathan morris. looking at hillary's emails. 3,000 are released. we'll tell you what they say. more varney after this. >> i believe in transparency. i believe in taking responsibility. and i have done so. >> what difference at t

in oakland, claudia cower -- claudia cowan -- claudia calin -- claudia calin -- claudia calin>>> modestoter is being bottled out-of-state despite the drought. donnie creekmore said he bought some bottled water at a walgreens traveling in washington state. he noticed that the water came from modesto. he questioned why he was cutting back on his water is.>> everybody's trying to conserve water. i immediately thought here is this company making millions of dollars bottling water and sending it all over the country.>> the water comes from the modesto reservoir. the city estimate the company has bottled as much is 25,000,000 gallons over the last year. officials say the company is allowed to use that water and is billed like any other company in town.>>> if you are teenager looking for a job, it's not to late to -- to make like to find one. businesses around the country rely on summer workers. there are still jobs to be had, but teenager should keep in mind it's important to be aggressive about meeting potential employers face-to- face. >> it's really important to make personal contact. a lot

jon: claudia cowan thank you. jenna: we are awaiting a news conference from the u.s. attorney on the chattanooga shootings. the shooter's uncle is detained in jordan as part of the investigation into the shooter's visit. new details on the shooting of those five servicemen. fox news learning one other service member on the scene in chattanooga managed to shoot back at the gunman. the navy times reporting timothy white used his personal weapon to shoot back which raises questions over who actually killed the shooter. jon: prosecutors in italy say terrorists were planning an attack on the u.s. base. authorities say two men were arranging to travel to isis territory for military training. jenna: the secret service is scrambling to fix a breach of security. kenya shared information with local airlines about the exact time air force one will be flying overhead from nairobi. >> kenyan aviation authorities caused a major security breach. they sent top offices throughout emails stating the exact time air force one carrying president obama is due to land in nairobi. it's worry

reward to help find two florida teenagers who disappeared during a fishing trip. 14-year-old perry cowan and austin stefan know went missing on friday. coast guard crews found their 14-foot boat capsized. no search of the boys. the their parents say their kids have a lot of experience p he is the one offering the $100,000 reward. there for >> i'm not doing anything that people don't do every day. it's love, compassion, support. >> a lot of private planes out there searching for these boys. >> so again a $100,000 reward for someone who finds them. coast >>> fiat buying back pickup trucks from their current owners. the problem with the pickup trucks is bad steering parts in those trucks that can make the drivers lose control. fiat chrysler will buy back the trucks minus depreciation. >>> there were long lines in berkeley as people came out to get a whiff of a botanical wonder. it's trudy the corpse flower. this is discovered back in the 1800s. it's called the corpse plant. it's not a single flower but a stock with a lot of flowers. these corpse flowers usually bloom every 2-5 years. >> i h

senator cowan: u.s. laws -- senator cotton: u.s. law requires not only agreements with the united states -- i think there have been passed precedent. i would like to move on to the second topic. can i have chart 1, please? general dempsey, this chart describes a powerful roadside bomb. can you explain what the bottom diagram shows? general dempsey: a copper cone is melted at superhigh temperatures. and projected and essentially burns its way through armor plate. senator cotton: the copper disc troubles at about 6000 feet per second. can i have chart 2 to see what happens to a come the -- to a humvee when a ball of fire travels at 6000 seconds -- 6000 feet per second. do you know how many american troops were killed by such penetrators? general dempsey: several hundred. senator cowan: was iran a main supplier of these? general dempsey: yes. senator cotton: what should we say about the over 500 american troops killed by an iranian ball of fire traveling at 6000 per second senator kerry we should tell them how extraordinary grateful we

coli bacteria in the water at cowans gap state park. the beaches are closed to swimmers. fishing and boating are still allowed. this is located about 60 miles west of harrisburg. >>> tonight crews will spray to kill mosquitos in several montgomery county communities. it's happening in areas where sampling has shown mosquitos carry the west nile virus, including parts of abington township. cheltenham township is also included. crews will spray from 8:30 to 11:30 tonight. >>> a lot of questions surround the arrest of a texas woman who was later found dead in her jail cell. >> family members believe there was foul play. tonight, prosecutors releasing more evidence about what happened while she was in custody. >>> coming up on "nbc 10 news at 6:00" pay the toll without stopping even if you don't have ez pass. a new cashless toll is coming. >>> there's a bill on the table to ban lgbt discrimination. senator cory booker of new jersey along with the house and senate democrats introduced the legislation today. the bill would add sexual orientation and gender identity to federal a

this is at cowan's gap state park.he beach is now closed to swimmers but fishing and boating are still permitted. this is about 60 miles west of harrisburg. >>> campbell's soup is going back to the basics. it's scaling back artificial ingredients. that means no more artificial flavors, colors and high fructose corn syrup. they will eliminate all three in nearly all products by august 2018. it says the food industry is being revolutionized by changing demographics and a widespread shift in what people want to eat. >>> a problem under the hood for thousands of cars. >> the new recall that could impact your vehicle. >>> and could there be another earth out there? the discovery in outer space that has scientists talking. >>> we are talking about a beautiful day to get out at the shore. live look at cape may. how long will this great weather last? >>> it's very difficult to give the kids the best that we can when we don't have the tools. >> families in limbo. they worry their children's schools will suffer because pennsylva

. >> claudia cowan live in san francisco. thank you. >>> that situation in san francisco is complicating matters for republican presidential candidates trying to walk a fine line on the volatile immigration issue. and donald trump, while getting an outpouring of support in some quarters also continues to pay an economic price for some of his comments. chief political correspondent carl cameron has that part of the story tonight. >> reporter: exactly three weeks after his controversial presidential announcement speech in which he claimed illegal immigrants from mexico are creating a crime wave of rape and murder in the u.s. donald trump's international empire has taken another body blow. the professional golfer's association today announced the 33rd pga grand slam in october will not be held at the trump national golf club of l.a. as originally planned because of trump's political turmoil. the pga and trump three months ago signed a multiyear deal to bring the grand slam of golf back to the u.s. mainland for the first time in

shares of amazon in the green after getting upgraded at both wenbush and cowan. is poised to overtake macy's as the leading retail -- apparel retailer, rather, by 2017. that stock up by 1 1/3 percent. says watch out walmart, watch out target. >>> when we come back, the future of ebay after a spinoff of paypal. we'll talk to the ceo in a cnbc exclusive. and alibaba makes a move with the help of taylor swift. >>> testing and using self-driving cars. we'll take you live to see how that all works when "squawk alley" continues in a minute. i'm here at the td ameritrade trader offices. ahh... steve, other than making me move stuff, what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place that lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim? for all the confidence you need. td ameritrade. you got this. >>> welcome back to "squawk alley." i'm here in san j

harry cowan and austin stefanos set off on a fishing trip on their own and they vanished. for the boy, although they're beyond the four to five days believed the boys could stay alive on water. you can go donate and gofundme.com/austinandperry. >>> that does it for us. we'll see you again at 11:00 p.m. eastern for another edition of "360". tonight, there's a lot in the search from missing mh370. >> breaking news on the greatest mystery in aviation history. this is cnn tonight, i'm don lemon. >>> wreckage washes ashore in a remote island that is consistent with a 777, the same model as malaysia airlines flight 370. missing for 509 days now. is it the plane? and will we finally learn what happened to 239 people on board. >>> also, the mogul who wants to be your next president takes aim and e at a female attorney. >> she wanted to breast pump in front of me. and i may have said that's disgusting. i may have said something else. i thought it was terrible.

. >> i want to bring in cnn legal analyst paul cowan for more. they want him extradited and forced back to zimbabwe to face charges. what do you think the chances are the united states would extradite this dentist? >> it's hard to say, but i think extradition comes down to about 60% law/40% politics. the reason i say that is because ultimately the state department of the united states has to decide whether to recommend going forward with the extradition. and we always look at the criminal justice system in the country that we're extraditing too. zimbabwe has a problem with human rights violations that it has been criticized for, for many many years, and i'm not so sure even though we have a treaty that the u.s. would be so eager to extradite one of our citizens to that system of justice. the second thing is you have to prove that the crime that was committed in zimbabwe is the same or similar to a criminal law in the united states. the dual criminality rule. we don't know what the offense is that he's being specifically alleged to have committed

. >> claudia cowan live for us in california thank you. >>> president obama plans to give dozens of inmates with drug crimes clemency in the next few weeks all with the stroke of a pen. should he do that? we will get the legal analysis. >>> and then we're going to have this. >> game over. the u.s. wins the 2015 world cup. >> victory never tasted so sweet. the u.s. wins the world cup for the third time for the women. alex morgan andach of the championship team join us next with a lesson for all young people. >>> and a robber walks out of walmart with 75,000 bucks without making threats or even pulling a weapon so how did he pull that off? >> they will probably take this as the fourth of july figured most of the managers would be off. ll day so i adopted him. when my back pain flared up, we both felt it. i tried tylenol but it was 6 pills a day. with aleve it's just two pills, all day. now i'm back! aleve. all day strong. you total your brand new car. nobody's hurt,but there will still be pain. it comes when your insurance company says they'll only pay three-quarters of what it takes to repla

. >> cowan downgraded the stock saying every rose has its thorn. and saying that iphone shipments could decelerate in the rest of the calendar 2015 and it's a prove-me stock. jon najarian where do you stand, are you using the 5% pull-back as a buying opportunity? or is it stuck in no man's land until we get proof that the iphone 6 story is intact? >> i've taken a scalp in and out of the stock, mel. not a big one, just a trading scalp. i have no position as we speak. i thought the china numbers were spectacular. as far as the read-through on some of the things we spoke about, that could have been worry some, i didn't see that in the numbers. up 112% on sales. >> is there a little part of you that worries about the china story? we would not have seen weakness in the quarter they reported. we would see it in the current quarter which they have not reported. >> service sup substantially. record of services over with apple. steve said neither fish nor foul. he's going over there with shakespeare with that one. i think shakespeare wrote it. chris brown m

the american family have been a tradition for generations >> charles osgood is on vacation i'm lee cowanal edition of "sunday morning." we've traveled to the summer get away of easthampton, long island for subpoena day at the shore. set up shop here at grey garden, fabled mansioned with a complicated past. many a seaside community like this is fascinated by tales of pirate

except that is, lee cowan will take us to. >> go ahead and laugh. spam is used to it.t has plenty of fans in a place you are probably dying to visit. hawaii. that's right. the islands are spam-aholics paradise. >> is this the most popular aisle. >> what you need in your kitchen. >> hawaii is a later on "sunday morning."f]ktpb >> martha teichner shows us a painter. woman confront her fears of frying and more. here are the headlines. the 19th of july, 2015. another service member shot thursday's attack in chattanooga has died from his injuries. 26-year-old naval petty offer randall smith leaves behind his wife and three young daughters. in a statement issued through their lawyer also night the family of the shooter muhammad youssef abdulazeez said, there are no words to describe our shock, horror and grief. the person who committed this horrible crime was not the son we knew and loved for many years our son suffered from depression. the governors of florida texas indiana, yesterday joined the governors of oklahoma arkansas and louisiana. authorized national guard forces

don't know how many people in this chamber are within the sound of my voice have ever tried to drive cowan interstate highway 35 through austin but it's almost like a parking lot. because it runs the length of our state, 35 that is start ing in lardo -- laredo, starting at the largest land port in america we have a lot of trucks and commercial traffic coming across, and it starts in laredo and goes through multiple population senators likestone my -- san antonio yes my hometown and dallas-fort worth some of the fastest growing cities in america before going to oklahoma. the interstate is more than 400 miles long in texas alone and because of our growth it's incredibly congested. 18 segments of the interstate rank in the top 100 post congested roadways across the state. that growth isn't projected to let up any time soon. as a matter of fact, it's going to continue at high levels. employment levels in central texas alone, some of the fastest growing part of the state, are projected to double or quadruple in the next 30 years. now, we're not afraid of getting bigger. we're proud of our size

let's bring in paul cowan who is here with us as well as gary hayward who worked as a prison guard and ultimately also served time in prison so has some experience on both sides. paul, the deal, 2 1/2 years to 7 years in prison, pleading guilty. what does the county get out of, it what does she get out of it? >> she got a great deal. i think her attorney negotiated a very, very good deal. let's face it, this is a very serious offense. these guys are murderers set loose on the community. they could have killed somebody. ound this deal she could be out in as little as approximately 2 1/2 years. it's more likely she'll serve more time but she's parole eligible after that short period of time. so that's a very, very good deal for her. now, she could do the entire seven years depending upon what the parole board things. >> good deal for her but then what does the prosecutor or the district attorney, he's not going to obviously just let her loose. what do they get out of it ? >> well, the prosecutor had to agree to this deal and essentially what happens is there's an arrangement made with th

already claudia cowan remarked the two democratic senators from california, dianne feinstein and barbara boxer are calling for more enforcement of federal law for the cities not being able to defy federal law enforcement. bill: how do you come back and forth five times. martha: incredible that they weren't able to reach out to the i.c.e. officials and each side is pointing the finger at the other in terms of responsibility. in the meantime negotiators entering another overtime period. he self negotiators left the table after the deadline was pushed back to friday. chief washington correspondent james rosen is still in vienna as the talks continue to go on. what happens if the obama administration fails to submit the terms by friday? >> then the review period congress will have will double from 30 days to 60 days. senior u.s. officials told us they would prefer the shorter review period. but in public aide to -- aides to the president express little concern. >> it's clearly in our best interest and we would welcome the scrutiny and careful consideration of the agreement. >> reporter: the

my brain ♪ ♪ >>> tomorrow it tees annual summer fun show on location in the hamptons including lee cowan'snetwork we'll have a saturday sessions special. you can watch great music at 11:00 eastern time on cbsnews.com. >> have a wonderful weekend, everybody. >> thanks for watching. -- captions by vitac -- www.vitac.com why are we watching this again? i pay for all these channels, so i make myself watch them all. joey, i'll watch anything except this. except this. go back, go back, go back, go back, go back, go back. fios custom tv lets you pay for the types of channels you want, not the ones you don't. 100% fiber optics is here. get out of the past. get fios. now for $79.99 a month. go online or call. call the verizon center for customers with disabilities at 800.974.6006 tty/v narrator: today on lucky dog, we're heading back to school as one golden corgi mix proves she can make the grade. ray: i've noticed that in the past, teachers have brought their dogs to school, and the kids really responded to that. brandon: stay. narrator: but fitting in with her new family means excelling in the cl

we've done a lot of work at cowan, survey work. we upgraded on monday.s could be a $600 stock in a relatively short period of time. the move today, do you rush to buy it on this move? i don't know you rush to buy it. all the signs are pointing to this stock going higher. you are seeing all the right things. they spent money and we are seeing it pay off. >> margins are higher. john fortt, i want to highlight this amazon web services. $1.5 billion was expected and already that was something like 50% growth. >> it's 80% growth instead of 50% growth. >> right. >> if you look at the operating income line they were at $391 million. that is 21% margin on the operating line up from around 7 a year ago. that is significant. amazon has been staying ahead. when you hear about that and you consider this is supposed to be a commoditized area yet amazon managed to open up that operating income growth over the space of a year it's significant. that on top of the top line growth which is what you want to see from a company like amazon that's been investing as heavily as

that is william cowan, now chairman of the cowen group. matt: you will hope altogether., the world may have dodged for full-blown panic from china and greece for now. our next guest says we may not be out of the woods just yet. stay with us. ♪ matt: let us take a look at the top stories on the bloomberg terminal. leaders of the naacp will hear from president obama today. he's going to speak about his plans for criminal justice reforms at the group's convention in philadelphia. the president commuted the sentences of nearly four dozen drug offenders yesterday. on thursday, he will become the first sitting president to visit a federal prison. netflix shares are at an all-time high after the seven to one stock split. they closed at nearly $800 a share. the video streaming service top $42 billion. netflix report second-quarter earnings tomorrow. today, we're getting a first close-up look at a distant world. nasa's new probe is zooming within a thousand miles of pluto -- a thousand miles of pluto. pictures are being beamed back and pluto is a lot bigger than previously though

we're told that among the backers, steve cowan, that's the investment who had 72 point managers i think out in greenwich, connecticut. and the former chairman and ceo of reebok, he gave a million dollars. but the koch were inviting a lot of candidates to try out with them and when chris christie wasn't invited and included in that group people read into it, obviously, christie is not all that. i think this is the way they're firing back, apparently we're all that with a number of other billionaires, so there. we live in a world of mobile technology, but it is not the device that is mobile, it is you. having a perfectly nice day, when out of nowhere a pick-up truck slams into your brand new car. one second it wasn't there and the next second...boom, you had your first accident. now you have to make your first claim. so you talk to your insurance company and...boom, you're blindsided for a second time. they won't give you enough money to replace your brand new car. don't those people know you're already shaken up? liberty mutual's new car replacement will pay for the entire value of your

my brain ♪ ♪ >>> tomorrow it tees annual summer fun show on location in the hamptons including lee cowan'sork we'll have a saturday sessions special. you can watch great music at 11:00 eastern time on cbsnews.com. >> have a wonderful weekend, everybody. >> thanks for watching. -- captions by vitac -- www.vitac.com >> good morning, everyone, i'm nicole brewer. and it is glob fest 2015 in phoenixville chester county this weekend. chopper three, overhead there as movie-goers ran out of the colonial theater, this is a big tradition over there. of course, they're re-enact ago scene from the 1958 classic film that took place at the very theater. film screenings of the blob will be tonight and tomorrow night at 7:00. but you may not want to stay indoors at all justin, because it will be a gorgeous day, right? >> that's right. nothing scar bye this forecast if you like sunshine and warm temperatures, good news is humidity levels still on the low side. not bad for early july. and maybe you're hitting the shore, we take to you margate right now live look, from the neighborhood network. still some cl

the commentary a little interesting here, cowans analysts say week spent amazon to be the number one apparel retailer. as an area amazon has been aggressively pushing into. callan says it will overtake macy's in the next couple of years. i wanted to look at brocade, this company is lower this morning it downloaded to a cell for neutral, they see reader trends -- weaker trends. erik: julie hyman with the latest analyst action. stephanie: thank you. let's hear it for the boys. and no not talking about a revival of footloose, coming up the men of perry ellis are speaking with the two individuals at the top to find out how they are breathing new excitement right after new york men's fashion week in this time-honored brand. perry ellis, what it means today. ♪ erik: what a great way to start this morning's most compelling images -- we call it picture this. here is one you need to see. stephanie: this is amazing. erik: a surfing competition, the three-time world champion fought off a potential shark attack punching the fish in the back and using his board as a shield. he wasn't hurt but he

. >> zillow cowan downgrading to under perform.price target to $60 a share. it is 82 right now. that sounds like a sell. >> regal shares have under performed but as seen in q 2 a 10% growth reflects new initiatives like expanded menus and alcoholic beverage options and is poised to regain market share. >> and go pro citi upgrades to buy. flying cameras and virtual reality $90 a share, about a 40% upside from where it is trading right now. >>> tonight at 5:00 on fast money have you seen the chart of mcdonald's? this is a new high. have you seen the chart of shake shack up double digit percentages. we will go fast casual at 5:00 on "fast money." >> thanks to you for watching. >>> "closing bell" starts right now. have a great weekend. >>> and welcome to the closing bell on this friday. >> and i'm bill griffith. july coming to a close. i think there is a law of physics that time in summer time goes faster than time in winter time. doesn't it feel like that? coming to the close for the month. it has been a pretty good month for the bull

. >> over $1 billion company, still 500,000 market cap, cowan covers it btig covers it and you're makingt point. if you bet on a biotech better bet whatever they are doing is going to work. >> strong stomach, got to have one. >> a different biotech with stomach problems. >> thank you very much ocular. >>> the headline june retail sales numbers came in weaker than expected this morning, but headlines can be a little deceiving because much of that was in car sales that came off a red hot may they could not duplicate and the consumer discretionary stock sector sitting at an all-time high. you like consumer discretionary stocks even with a new high being made how come ari? >> the technical action has been very positive over the past few months. if you look back at the volatility in the market in the past few weeks, you look at the consumer discretionary spdr ticker, trade ders not want to sell this xly spdr they have gone to the upside and led the breakout levels and the breakout level is now a near-term level 6 support. the trend for us has been the relative level of discretionary relative

cowan and company starting with an outperform and $80 target. that implies about 50% upside.ying it should support about $2 billion in peak global sales. seven analysts cover the name. average target of $76.14. >> that is tremendous price action in a market like we've got. >> get them on "fast money." >> thank you for the suggestion. >> it's hard to say. >> good thing we are all sober here. >>> coming up the bright spot in the markets where. that is. [ male announcer ] legalzoom has helped start over 1 million businesses. if you have a business idea, we have a personalized legal solution that's right for you. with easy step-by-step guidance, we're here to help you turn your dream into a reality. start your business today with legalzoom. >>> the major averages are making a major comeback. some sectors are moving higher than others. we promised bright spots and we deliver. homeowners, put, lennar d.r. horton, toll brothers all up 2% to 3%. tobacco stocks philip morris and reynolds. altria up 3%. this is a cool stat brought to you by our great markets team here at cnbc. if the d

amgen, a bullish note out of cowan recently raising prices on a number of their drugs.ying it underestimates the prices and stock is flat though on a call. >> the stock is up 36% over the past year. >> yeah. >> its market cap is now 124 billion? that makes it bigger than bristol meyers and eli lilly. i think we need to change our definition in the media what big pharma is. >> big biotech. >> crisp stock, and anna core 6.5 million market cap, working on an anti-fungal product. goldman sachs upgrading it to a buy from neutral. the target. i know you're going to flip out on this one. target was bumped to 195 from 60. >> way behind. >> are you flinching from me because you think i'm going to strike you? >> general flagellation. the stock is at 151, so take this call with a grain of salt. the analysts missed. >> much of the upside. >> i debated internally and put this in the under radar. >> a good one though. >> if an analyst leaked and issued a mea culpa. >> is that what the analyst said? >> rarely you get that and you get analyst speak because 100 lawyers have to go throug

top of the hour, lieutenant colonel bill cowan he fought in the jungles of vietnam and fighting an invisible. how does he think we should attack the new invisible enemy, terrorism? second hour of "varney & company" is about 2 1/2 minutes away. do you want to know how hard it can be to breathe with copd? it can feel like this. copd includes chronic bronchitis and emphysema. spiriva is a once-daily inhaled copd maintenance treatment that helps open my airways for a full 24 hours. spiriva helps me breathe easier. spiriva respimat does not replace rescue inhalers for sudden symptoms. tell your doctor if you have kidney problems, glaucoma, trouble urinating, or an enlarged prostate. these may worsen with spiriva respimat. discuss all medicines you take even eye drops. if your breathing suddenly worsens, your throat or tongue swells you get hives, vision changes or eye pain or problems passing urine stop taking spiriva respimat and call your doctor right away. side effects include sore throat cough, dry mouth and sinus infection. nothing can reverse copd. spiriva helps me breathe better. to learn