still to come why dreamworks stock is getting lofty off of the success of a new film. plus....see if you can guess which industry is dodging the effects of the sequester. bill moller has the answer right after the break. sequestration - doesn't that sound like a disease? the brutal federal spending cuts now kicking in that congress cannot seem to solve. the cuts are supposed to hurt all aspects of the economy. how about the real estate sector that's been on the mend? ernst & young along with the urban land institute just finished a survey of 38 economists about that. dean schwanke is senior vp of the institute. is real estate sequestor - proof? > > i think that the fact that sequestration has addressed some of the budget issues. it has given some confidence to the marketplace. and its not such a big hit that it's hurt the economy. so real estate is viewed as a sector that is more stable right now than the stock or the bond market. real estate is on a good run lately and its immune from some of the ups and downs of things. it does vary from one month to the next.six mon

dreamworks turns in revenue of $135 million. the ceo saying the year off to an outstanding start for dreamworks. he also mentions specifically one movie, maria, "the croods," they reached a blockbuster level of nearly $480 million, well on its way to becoming the number one movie released during the first four months of 2013. dreamworks up about 8% right now in the after-hours. maria, back to you. >> thank you so much, josh. >>> up next, pensions have come under fire, but coming up, we've got the person who ran a portfolio that wiped out $97 billion in losses. the chief investment officer of the country's biggest public pension fund calpers will join me to talk about that feat. he'll be joined by his counterpart at callsters teacheteacher s union. pepgs watchers are concerned if there's not money to pay. also coming up. >> do you still have juice to get the rest of your agenda through this congress? >> if you put it that way, john, maybe i should just pack up and go home? >> the president may have been kidding about congress' re

there's also a toy from the new dreamworks movie "the croods", rated pg. ♪ [ guy that's not food.d. [ male announcer eating right can be fun when your kids make balanced choices in their mcdonald's happy meal. there's also a toy from the new dreamworks movie "the croods", rated pg. ♪ >>> he inspires you because he is great. greatness inspires everybody. once you are in the studio and you have been produced by him, he has the touch. you could be doing 300 takes.h incredible thi incredible thing happenp happened happened if it can happen again. one more.pthen, oh, tg just opened up. p it doesnit doesn't get b. befobeforp before you kndo feel good about every one of them. >> that wraps it up with "our world with black enterprise." be sure to visit us on the web at blap at black enterprise worp world aworld and at blap at black enter

there's also a toy from the new dreamworks movie "the croods", rated pg. ♪ ♪ release the croods!food. this...is food. [ male announcer eating right can be fun when your kids make balanced choices in their mcdonald's happy meal. there's also a toy from the new dreamworks movie "the croods", rated pg. ♪ ♪ >>> he inspires you because he is great. greatness inspires everybody. once you are in the studio and you have been produced by him, he has the touch. you could be doing 300 takes. he says, this is the most incredible thing incredible thing that has happenedp happened onhappened on earth, i don't know ifif it can happen again. one more.p then, oh, mythen, oh, my p then, oh, mythen, oh, my god, the heavens just opened up. itp it doesn'tit doesn't get better than that. beforebeforep before you know,p done 200done 200 takes but he made you feel good about every one of them. >> that wraps it up with "our world with black enterprise." be sure to visit us on the web at blackp at black enterprise.com/our worldp world andworld and at blackp at black enter >> the following is a paid presen

. >> rose: and the thing with dreamworks didn't work out. you and david couldn't -- what? get along? >> my regard for david geffen is extremely high. i think that david geffen is one of the greatest not only showmen but one of the greatest businessmen that have ever -- >> rose: why couldn't you make it work at paramount? >> i don't -- i can't really give you a great answer for that other than the fact that when we bought dreamworks we made what we thought was a great deal. we had, as i said no development. >> rose: so you were buying development. >> we're trying to jump start -- at that time we needed the development. and the idea was that in five years we would be able to develop all of our own over those years so we really would need to go by -- >> rose: and you'd have steven spielberg. >> steven and the distribution of d.w.a.. >> rose: and the brains of david geffen. >> and the brains of david and the artistry of steven. it's extraordinary so the deal made complete sense to us. i have only great things to say -- >> rose: i know, and i'm not trying to get you to criticiz

. >> dreamworks. look at dreamworks with a 40% interest. getting squeezed right now. a lot of people shooting against it, but the stock has been a great stock to own. i think it'll continue to be a great stock to own. >>> a banker to celebrities tells us how his clients are investing and how you can get in on the action. and meet the nba student who went outside the box and won institutional investor competition. it's as simple as this. at bny mellon, our business is investments. managing them, moving them, making them work. we oversee 20% of the world's financial assets. and that gives us scale and insight no one else has. investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. >>> welcome back to "fast money," we're live in time square. ever wanted to bank with an a-list movie star or next to your favorite hip hop artist? soon new yorkers will be able to as more and more stars are calling manhattan home. citibank is opening two branches in the big ap

riley upgrading dreamworks. >>> let's make it a trifecta of upgrades.the mix as well. >> not a big move, but up 1.5%, but a big firm behind it citigroup upping it from a buy to a neutral. good timing, though, because this put the upgrade out this morning better the gigantic housing numbers. well beat. o.c. up about 10% over the past year. not bad. remember with his fargo downgraded owens corning back on february 25th. >> are we done with the upgrades? let's move on to the ouch stocks. one of them is mac-cali. you they're cutting their quarterly dividend by 33% in an effort to save cash. payout is now 33 cents a share, going to save them about $13 million a quarter, they said weak demand for office space, sort of a new england, northeast-based company, impacting its business. so no office boom in new jersey, apparently. >>> this is a company you don't often hear about, we've some edgesed it a few times. >> this has a huge gainer. up over 500%, but not day. down 13.5%. the they're reviews the safety and efficacy of the muss alaska dystrophy drug. i wrote

why companies from dreamworks to netflix might need him for their businesses. that coming up on "closing bell." back in a moment. uh, i'm in a timeout because apparently riding the dog like it's a small horse is frowned upon in this establishment! luckily though, ya know, i conceal this bad boy underneath my blanket just so i can get on e-trade. check my investment portfolio, research stocks... wait, why are you taking... oh, i see...solitary. just a man and his thoughts. and a smartphone... with an e-trade app. ♪ nobody knows... [ male announcer ] e-trade. investing unleashed. transit fares! as in the 37 billion transit fares we help collect each year. no? oh, right. you're thinking of the 1.6 million daily customer care interactions xerox handles. or the 900 million health insurance claims we process. so, it's no surprise to you that companies depend on today's xerox for services that simplify how work gets done. which is...pretty much what we've always stood for. with xerox, you're ready for real business. >>> welcome back. the dow and the s&p 500 having a t

and the dreamworks animated feature, "the croods" held onto third place, with another 9-and-a-half million dollars in ticket sales. barry zito was fantastic and buster posey hit his first home run of the year as the san francisco giants beat the san diego padres five-to-zero. zito pitched seven innings and only gave up five hits while striking out four and walking one. chad gaudin came in and pitched the eighth and ninth to give the giants their twelfth win of the year and a sweep of the padres. the giants still remain one- and-a-half games behind the colorado rockies for first place in the n-l west. tomorrow the diamondbacks come to town for a three- game series. after sweeping their three game series with the astros the a's dropped all three games against the tampa bay rays. today the rays put the nail in the coffin with an eight-to-one victory. starting pitcher tommy milone -- who started the season with a three game win streak -- gave up six runs over six-and-two- third-innings. for the second day in a row a's hitters only managed to notch three hits. now they head to boston for a thre

we get numbers today from etna, adm, avon, starwood hotels and dreamworks animation.bout pfizer, as well, towards tend of the program today. >>> first, banks have been leading european stocks higher after better than expected results from the key players. carolin roth will join us with more. >>> deutsche bank released earnings earlier than expected. cash call is going to raise 3.7 billion from the sale of shares. that comes amid pressure from regulators to deutsche to bolster its balance sheet. at the same time, ubs business model is working following a surprisingly strong fist quarter. net profit just over a billion. >>> and they're getting income into management arm, as well. joining us this morning, carolin roth is with us. hi, carolin. >> hi there, ross. the analyst community agrees on one point. these numbers are better than expected. it is a quality beat. not just studies with better results. it is a pretty good result. that was in large part driven by the investment banking unit where revenues increase by 74% quarter on quarter. specifically in the equities tra

i have been the independent fiscal watchdog and worked in dreamworks studios and worked in a family business been able to get jobs into los angeles and focus on the issues that are important to the residents of los angeles. >> what is the single biggest problem facing los angeles right now? >> jobs. economic development. we have a high unemployment rate. higher than the national average. the thing the mayor is going to do, the next mayor as wendy greuel is going to focus in on job creation. creating opportunities for our young people and getting people back to work. i'm going to lead l.a. forward. >> it seems as if, though, the biggest problem facing the next mayor is this budget issue, which, frankly, a lot of mayors are dealing with around the country and a lot of governors and the federal government itself. so, how do you plan on going about that? i know you announced a plan to cut sort of the budgets of the mayor's office and the city, but that's a drop, as we know, not a lot of money. the real issue has to do with pensions, right sph. >> well, look, first and foremost, as mayor of los a

>> dreamworks. >> i'm watching. don't go anywhere. "mad money" starts right now. >> my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. and i promise to help you find it. "mad money" starts now. >>> hey, i'm cramer! welcome to "mad money." welcome to cramerica. other people want to make friends. i'm just trying to make you a little money. my job is not just to entertain you but to educate you so call me at 1-800-743-cnbc. the darn thing, it just doesn't want to quit. after opening down 70 points in some real weak factory data, this unsinkable market proceeded to rally right back with the dow closing up 21 points, s&p rising .25% and the nasdaq gaining an astounding 6.6%. how does it happen? right? that's what you're thinking. how does this market rebound so swiftly like wilt chamberer ban? what makes it rally when it should stay down, play dead. i think the secret of this market is the immense negative activity surrounding its of every move up. despite

he's a movie buff, so he invested in dreamworks, the hollywood studio. so he built himself a yacht longer than a football field equipped with its own submarine. he has spent over a billion dollars on philanthropy, including building an institute to study the brain, and like gates, he pledged to give most of his money away to charity. now he got married. >> right. >> you never got married. >> not yet. >> not yet? >> i'm still optimistic. i still believe i'm going to meet somebody and that's gonna happen, but... >> you want to. >> i want to have a family. >> but he's often described as a recluse. something struck me when he showed us his collection of vintage warplanes. i get this howard hughes-y feel with the planes, hollywood. do you think about that ever? >> well, i hope i don't end up in a cinema by myself watching ice station zebra over and over again. i think i've got such a diverse set of interests, movies, aviation, technology-- >> howard hughes. >> well, i don't know if howard was involved in sports teams. >> allen's diverse set of interests also

that's good for dreamworks stock. >> talkers but when he singled seems like at the box office. >> of>> thanks rob and get ready for another hot day today. here's a live look at the golden gate bridge. look at all that blue sky. a lot of sunshine once again. make sure your sunglasses and plenty of water. it will be warm and hot especially for and win locations this evening clear and comfortable. it really nice if you're catching the baseball game over were the giants are said this evening. temperatures right now are already in the '60s for oakland in daly city. santa year at 59, concord or already at 70, livermore you're already at 73 degrees. temperatures are ramping up very quickly. here's why. satellite and radar from high pressures and control. we have set off for glow so will see temperatures in the upper 80s and even low 90s. creek beach weather. i have your beach forecast at just a minute. very dry and see any storms for the next seven days. here's your futurecast 4. at noon today, colossi for lunch. you concede or join a lot of widespread '80s by the noontime here, or. highs f

and jeffreyberg captain berg of dreamworks. "huffington post" has governor chris christie along with musician jon bon jovi. george condon is a journalist with the "national journal." we talked to him about the history of the dinner. here is what he had to say. >> how did the white house correspondents dinner evolved? >> the correspondents association started in 1914 because they were terrified that president wilson was going to have press conferences and he would pick who would come there. they wanted to regain control. that crisis passed. 10 years went before they started the dinner in 1924. it evolved from a very small dinner, only a couple hundred people. members could only bring one , and it had to be a person of high official position. it has changed quite a bit since then. >> the first dinner was in 1924? >> yes. presidents always attended the yearly dinners. they were promised, you do not have to give a speech. residents didn't want to give speeches, and they could just enjoy it. it was very much modeled after the gridir

steel and dreamworks animation, among others. >>> also, aetna posted results just minutes ago. the insurance giant reported earnings of $1.50 a share, 11 yents ahead of estimates. revenues did fall a bit short. the company says results were driven by strong membership growth in its medicine business. >>> and numbers from starwood hotels are crossing the wires. they just crossed the wires a phi minutes ago, as well. we've got a lot coming this morning. earnings in revenue topping consensus. . i haven't been to a tarwood hotel in a little bit. corporate event toes watch today, ibm and under armour they're going to hold shareholders meetings. they're going to be voting on the buyout by berkshire hathway. >> and it's time for the global markets report. and -- >> welcome, ross. >> the one man i did -- i admit i did sort of fantasize a little bit in one of these, yours truly, are ross westgate who is standing by in london. ross, you know, we do have some green -- i'm just going to get out out of this quickly. we have some green and we -- i would figure that you're going to trade base

job of that and they created "house of cards" which was great success and a deal with disney and dreamworkss like what hbo put together and i would have never thought that for a guy like reid hastings. and he has created a new tv network. so i think over time they'll be more like the financials that we see at tv network companies like their content profile is becoming like the companies, too. >> robert frank was on set and we were talking about reed hastings' net worth during the commercial break. what has a 100% move done for his household? you talk about a house of cards. in the fall of 2011 f you look at his wealth at that point when the stock cratered, it went from around $800 million to $200 million when the stock crashed and everyone thought this company is dead and reed hastings will never get to be a billionaire. lo and behold he is now back to around $600 million and plus he has sold off shares throughout the program selling over the past five years. so that's hundreds of millions in addition to that. so add the 600 million plus the hundreds of millions, he's probably close to wher