elan.will raise it for any moment. they'll go from 8.25. they're trying to pursue the same strategy as royalty pharma and elan are wondering about some of the deals they struck. >> it seems like these guys are out of the growth. out of the money from selling tysabri, but royalty pharma wants to buy them and it's irish takeover law and it will be coming with a higher bid for elan. >> that's all cooking in the la c-r-e-u-s-e-t. most expensive pot, so i know what i'm talking about. >> we'll go full speed ahead with kramer and his "mad dash" is next and more "squawk on the street" live from the nyse straight ahead. in today's markets, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative

. >>> elan musk, founder of tesla motors, has often been accused of being too far ahead of his time.sk was proven guilty, given a 12-year, $465 million loan. in 2010, musk got a little bit ahead of himself last week, and repaid the loan, every last penny, nine years early. rewriting the future of electric cars in the process. now some republicans are struggling to figure out how the big, bad government could have possibly guessed right on a clean energy program. tesla's loan wasn't supposed to be repaid until marco rubio was halfway through his second term as president. but it turns out that if you give a bunch of intelligent innovators the seed money to conduct innovative research, the innovators will sometimes successfully innovate. for nearly a decade now, elan musk has been the golden boy of energy-efficient engineering, driving change across the industry as conventional automakers find themselves forced to keep up with that annoying pest called progress. tesla's new model-s car introduced this year has set new standards for mass production electric vehicles. the model-s is capab

elan just mentioned they will have a 3 series competitor.he more product they put out on the market more sales they will have, and more they areable to earn the valuation that they have. melissa: scott, i'm worried that the stock has jumped 74% sin may 8th. to me that kind of move, feels like a short squeeze. i meanhere were a lot of people out there that didn't expect them to have this kind a quarter a had shord the stock. look at the slope of that curve. isn't that what that looks like to you? >> it is completely unnatural. en stocks go parabolic you have to watch out. i think your point is well-taken. a short squeeze certainly seems to be in order here. so what will happen? people have to buy the stock cover. that gives it kind of an unofficial or artificial float. listen, re's another thing. melissa: yeah. >> michael mentioned something important. people like the car, right? if you look at some reviews. the ford focus electric there are other things that the ford has that the tesla doesn't. it reviewed out questionably better than the te

elan musk plans to triple super charging stations by the end of the year. the goal is to let drivers go from coast to coast. the world's top 8% of earners are taking in 50% of the planet's income. jcpenney eliminated all signs of the tea kettle billboard that reminded some of hitler. now that $40 teapot is reportedly sold out at penney's and going for $199 on ebay. forbes out with a list of unusual jobs that pay surprisingly well. average salaries among them include hot dog vendor, $30,000 to $100,000. that's a lot of hot dogs. personal shopper $25,000 to $100,000. ice cream taster, $56,000. funeral service manager, $80,000. and a live mannequin or human statue, can earn up to $100 an hour. i'm going to stay here, do nothing. >>> coming up, we'll tell you what's leading the news. and weather across the midwest is causing tornadoes and flooding across parts of the country. >>> take you to sports now. we're going to start with a game seven thriller in the nhl playoffs. late in the third here, blackhawks and red wings tied at 1-1. a detroit goal there? no. dis

. >>> a war of words between elan musk and chrysler, a car company fight. we'll take a look coming up in business news. >>> cool and breezy conditions persist for today. memorial day traditionally marks the unofficial kickoff of summer. but this year, it's going to feel more like fall. who's going to see the best weather across the bay for the three-day weekend coming up. >>> welcome back. "forbes" magazine just released its list of the most powerful women in the world. facebook's coo who spoke to businesswomen in the bay area just a few hours ago. nbc bay area's christie smith joins us live in san francisco. christie, good morning. what was the big topic at the conference for professional businesswomen? >> reporter: good morning, marla. there were very powerful and accomplished women here today talking about how they made it to the top of these big companies and what they found when they got there, including facebook coo sheryl sandberg who walked into her office and said, i didn't even read your book. her book is a conversation about feminism in the workp

solar city also headed by elan musk landed $500 million in financing from goldman sacks. and apple announced plans today to open a new store where levis is now in union square that will replace a store three blocks away. apple just sold it's 50th billionth app. >> that is incredible. >> battle over bacon tonight in san francisco's haig haigt -- haight district. what if you had to smell it all day long? that is the controversy surrounding the bacon bacon restaurant. one person filed a complaint and now, the restaurant is being forced to close not so much because of the smell but permits. the owner filed for a permit because of the complaints the process was shut down. >> the restaurant is going to play by the rules and not going to produce bacon smoke. >> it's a $30,000 upgrade i need to do here. and why do that if you're going to be kicked out? >> nearly 2000 people have signed a petition to show support for the restaurant. bacon bacon has 75 days to resolve the issue autos coming up next a 7 on your side investigation into seat warmers in the car. think may be overheatin

. >> elan musk wants an affordable tesla, electric car for everyone.going straight up. talk to one top deputy in a moment. the dow up 209. ♪ ♪ ♪ ♪ [ male announcer ] how you engineer a true automotive breakthrough? ♪ you give it bold styling, unsurpassed luxury and nearly 1,000 improvements. the redesigned 2013 glk. see your authorized mercedes-benz dealer for exceptionalffers through mercedes-benz financial services. >> the h1nd flu sweeping through venezuela killing 17 people, infecting 206. over 3,000 people in chile and argentina ordered mandatory evacuation after the vol volcan. the last time there was major impact was in 2002. a lot of evacuations now though. a true rainy day fund, seven months after sandy, the red cross has not spent one-third of the 300 million raised to help the victims, even though many of them are still homeless. next, a man from tesla who responds to the proposed ban of tesla sales in north carolina. would it really be -- prevents unfair competition? just the stock over a hundred bucks today. we'll talk about that next. ♪ t

remember it elan had an enormous amount of cash.ing to buy it, royalty pharma. in fact, it did a very large deal in which elan is paying for a portfolio of drugs owned by a company called theravance and the key one was just approved on friday and it is the next generation of advair. it's one of the best-selling pulmonary drugs from glaxo, partnered with theravance on it and that's the key here. it just got approved on friday. theravance gets 15% on glaxo and other drugs, as well. below $3 billion and 5% above that in terms of royalty. so elan is now getting 21% of that royalty for a drug that, by the way, has yet to begin selling again and it just got approved, but expectations are that over time it will sell an awful lot given that it was ten years of a clinical trial versus twice a day for advair. as for e olan and what happens there. you see it there up sharply. values at 4.8 billion and that is all of those companies paying 21% and we keep saying companies and all of those drugs and they're paying 21% for that overall group -- 2

solar city also headed by elan musk landed $500 million in financing from goldman sacks.pple announced plans today to open a new store where levis is now in union square that will replace a store three blocks away. apple just sold it's 50th billionth app. >> that is incredible. >> battle over bacon tonight in san francisco's haig haigt -- haight district. what if you had to smell it all day long? that is the controversy surrounding the bacon bacon restaurant. one person filed a complaint and now, the restaurant is being forced to close not so much because of the smell but permits. the owner filed for a permit because of the complaints the process was shut down. >> the restaurant is going to play by the rules and not going to produce bacon smoke. >> it's a $30,000 upgrade i need to do here. and why do that if you're going to be kicked out? >> nearly 2000 people have signed a petition to show support for the restaurant. bacon bacon has 75 days to resolve the issue autos coming up next a 7 on your side investigation into seat warmers in the car. think may be overheating. loo

is elan musk and david fast left groups they left over the weekend.turning now to wall street stocks posing little change today. well, interested in having a coffee date with apple ceo tim cook? you have a chance but goitsing to cost you. pet bidding now up to $650,000. from bloomgberg studios, dan, carolyn, back to you. >> a slow motion catastrophe taking place in lake port. the ground is slowly giving way, tearing apart at least eight homes and 10 owe houses have been evacuated. the neighborhood is slowly sinking because of what seems to be a sudden gust of water. >> property values are gone. we have no equity this, is lock down. probably will be maybe our lives. >> the board asked governor brown to declare a state of emergency there. mail carriers have been to avoid the neighborhood until the ground stops moving. >> and cold spring in minnesota triggered ice heat. take a look. a wall of is -- ice being pushed about 40 miles per hour moved towards cottages yesterday. this traveled about 15 feet in just seven minutes. you can see results are devastat

this after elan musk announced departure from the group. a huge after ther yaid the size of the golden gate bridge coming within 3.6 million miles from earth. at bloomberg studios i'm emily chang, larry, carolyn, back to you. >> have a great weekend. >> fema has come up with a way to see how communities are doing after a hurricane, they go to the waffle house. current administrator began using the waffle house index when he headed disastrous funds in florida. simple signs can signal it's hard to get supplies after a disaster or maybe power is limited. >> they're spending time cleaning up. it's kind of alike a place where everybody can meet. >> fema points out that woman just said businesses reopen quickly, it indicates a stronger recovery for a disaster area. >> it's going to be sizzling this weekend. >> it's going to be cooking inland. so if you think today is hot just wait until tomorrow this, isn't anything. low 90s inland. 93 degrees in fairfield. skies clear. we're not expecting fog. you can see clear skies and hotter inland tomorrow.

he was interviewed on cnn and elan. he, recently issued a statement saying the father of ryan andresen issued a statement today.it reads "we are relieved to hear that other scouts will not have to suffer the rejection and expulsion that ryan experienced.had this policy been in place just 8 months ago, ryan would already be an eagle scout, and he could've avoided so much pain." >>pam:on to a developing story in phoenix. the jury trying to decide whether jodi arias should live or die - is deadlocked. they told a judge earlier tonight that they can *not reach a unanimous decision. that means a mistrial.and another jury will be selected for the penalty part of the trial.. arias has already been convicted of killing her former boyfriend in 2008. now she heads back to jail to await the new penalty phase. the local sheriff has banned arias from doing any interviews -- until the next phase of the trial. tonight-- recovery efforts in tornado-ravaged oklahoma are being hampered by bad weather. in moore, oklahoma. heavy rains soak

a mystery tweet from elan about what's coming.nd in the four o'clock hour, inside the store, show you what that looks like. it's been quite a day, quite a car. >> i bet it's quite a day. tough day at work to drive cars around all day, jeff. thank you very much. >> they don't make noise either. >> blew out jeff's microphone. jeff, thank you so much. interesting story here. banks in long winter, florida impose a new dress code, but not for the employees, but for the customers. the new policy comes after a series of robberies in recent months, and the dress code, by the way, says no hats, hoods, or sunglasses. looks like the bank robber outfit while inside the bank. people refuse to comply are not turned away, but scrut newsed by security. there you go. >> go with the richard nixon mask. >> there's that. >> there you go. coming up, "countdown to the closing bell," joined by the king of the cloud business, and the startups just can't live without, all coming up next. ♪ everybody has fferent investnt objectives, ideas, goals, appetite

out he fwochlts elaned 30 miles away from the intended drop zone.really see it. representative from the fifth special forces group says the soldier was uninjured than thankfully. still not mostly clear how it happened but you can see the chord get caught there on the plane and there he goes. out the plan. >> ruling tonight in the case of montana man wrongly diagnosed with brain cancer and told he had 6 months to live. mark believed he was dying so he quit his job sold the pickup truck. celebrated last birthday and even contemplated suicide. judge today said the doctor was neglect. hospital has been ordered to pay him 59,000 dollars in compensation. >> well twitter is heading to the south bay exploratorium base company has leased an 8,000 square foot office in downtown sunnyvale near the cal train station between 40, 50 employees expected to be at the new location. no word on when the office will open for business bit is in the work. >> we talk about silicon valley that is famous for start up. launched in garages hewlett-packard and apple most promin

now tesla founder elan says chrysler used some accounting procedures to avoid paying back more than $1 billion. >>> a group of high school students have found a new use for social media and they are taking it all the way to washington, d.c.. coming up you will see the unique car fueled by your online activity. >> and i've already tweeted it out and put it on my facebook page. >>> 6:20 is the time. sal, how is traffic? >> good, pam. i know you and dave are both on twitter. >> that is right. tweeting away. >> we are all on twitter. i'm on twitter. steve is on twitter. brian flores is on twitter. westbound bay bridge that is backed up but not as big as we normally see it. the traffic is looking pretty good on this friday. i think the friday before memorial day. it's safe to say people are taking the day off. others have been furloughed. but for whatever reason we know it's lighter. you can tell for yourself by looking at this picture. this morning's commute on westbound 9:as you head out to the high-rise the traffic is also looking good. so if you are driving the traffic times are not as

this morning elan musk making a phone call and authorizing his banker to send hundreds of millions backto the government. >> the electric car company is paying back its entire loan. taxpayers will make a profit. >> a small one. tesla will be the first company under the green loan system to pay the loan back. tesla got more than $400 million from the department of energy. the car company hasn't made t$40 million in cars. it offered stock and raised the money that way. it's moving the risk, the liability from the taxpayer to the common investor, a much more traditional model for business. as you mentioned the payment will be electronic. more visual if he were to write a check. the department of energy and the obama administration could really use a good visual like that, considering this is what most people think of when they think of d.o.e. loans. president obama and the bankrupt solyndra. other news looking ahead. we have hewlett-packard announcing profits or losses this afternoon. sunny vail based net app did the same on wednesday announcing it will cut 900 jobs worldwide. filings indi

it's just unbelievable, same with groupon, but with tesla, people wanted to see the company fail, but elan of the company, said, no way. he was confident. here's the number i'm interested in. they want to hit the 20,000 mark in 2013 of sales, do you think they can do it? what guidance do you expect on that? >> so i think they can do that just because they already said they did almost that rating q1, so only a moderate uptake from that rate gets you to 20,000. the key of the guidance is orders and order cancellations so what i think folks look for on the call are signs that they are reaching a sustainable level of orders of 5,000 per quarter that could support that type of demand, but in terms of the ability to build that many cars, they have proven that to be the case. david: ben, one of the questions about the money it makes, is does it rely on government support as the business model? some say there's too much money or relying too much on government support in terms of the tax credits, emission credits, which may add up to 50 million of the income. >> yeah, so i think there's three thing

and elan strikes a billion dollar royalty deal with the-- i'm not sure, thera up.l maker disappointing profits. where are we going next? irs targeting conservatives and worse than first reported. sets a dangerous precedent for anyone critical of big government. this is the story of the week in my opinion. when if ever will this administration be held accountable for anything? we'll deal with that next. clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their live webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning every step of the way. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade... ranked "highest in customer loyalty for brokerage and investment companies." ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond.

there's short covers, and elan, obviously, the founder, head of tesla and now he has the golden touchwall street by storm and doubling since april is a good way to say it, above the hundred dollar share mark which is key. back to you. >> thank you very much. case schiller 20 city index of home prices rising at the fastest rate in seven years with west coast cities leading. home prices rising more than 20% in phoenix, san fransisco, las vegas. home america ceo, greg rand, has eyes on two other cities now. thank you, greg. what two cities are they? >> i like chicago, all right? chicago is one of the only major, like really big cities, big population cities, and when i say "chicago," it's chicagoland. suburban chicagoland, buy a family home, rent out for 5% yield, just on the rent's for the expenses, and that's the only place to do that. you can't do that in boston, dc, or new york, the east coast cities, and it's rare in san fransisco, san diego, l.a. so for the standpoint if you play big u.s. metro, chicago's the only place. >> 9.3% unemployment in chicago, higher than the national ave

this came around at the same time as fisker, but this is run by elan musk, a rock star, a dumb personalityke him in the market many people bet on his name alone. >> not a green energy electric car company, the normal kind that's failing, but a success, making money, got a government lone and repaid it five years early. it's not a green car company on average. >> three months ago, i went to the mall in jersey, and there's shops inside the mall, and put half the car in there, the engine, and, i mean, they had a better crowd than apple, a better crowd than apple. of course, the people could not necessarily afford the car, but it's sort of on a lot of people's wish list. >> you recommend it? >> i have. we have a few people left, but i had everybody trading in. >> nicole, groupon, a winner today. what's the story there? >> groupon, daily days business, well, business is good. look, the stock's up 12%, showing signs of life, posted a strong quarter forming a board to start the search for the new ceo, all good news as revenue rises faster than expected. >> get yankees' tickets 40% off via groupon

but the all things digital tech and media conference welcome tim cook, cheryl sandburg and elan musk stage this week. they kept quiet about new product announcements, but motorola made its move back into mobile. now, having taken a back seat to apple and samsung among others, the once dominant cell phonemaker will be launching the moto x later on this year. intel may have engineered a much needed win in the mobile space. a reuters source says samsung electronics, they've chosen intel to produce more for its chip market. samsung has been using chipped provided by arm holdings for an its droid tablets. adam is still with us from ovum. adam, motorola, when i started covering the tech market some 13 years ago, 10 years ago, motorola was the thing. this is the big mobilemaker everybody said had to have a cutting edge on design. where are they now? >> and that's his fall from grace. they've now been acquired by google and they've just spent a lot of time restructuring the company to try and refocus their efforts. they're looking largely to focus on americas and that's north america as well

tesla, you could argue that elan is just a visionary and the stock. >> look at that move. >> when stocks, analysts who don't like it or even like it a little bit raised their price target. there's no stock to be had, david. it is the most genuine -- >> all right. give me, though. >> fundamentals. the cars are loved. that's a 57% -- >> i had tested one of the early a couple of years ago. >> not the sedan. >> i'm not that cool a guy. if i were to buy a tesla, david, you would rethink your view of me. >> i would? >> there's real torque, man. >> this is not -- this is a race car. >> this is like the -- >> can they actually make money from selling them has been the issue. >> david, why are you making that relevant? >> spoil alert and then the chevy that don draper is writing for. this is one of the more remarkable stocks of the year. so a lot of people got shorted. sell stock right here. >> why doesn't tesla issue equity. >> he is a visionary. so i ain't going to play solar city is working. ? first solar, i did not like the quarter, but what they did was make a lot of money and the conference

geez, you look -- >> elan musk is very involved in every detail. >> he's like steve jobs, according to some people. >> he's actually iron man. that's who iron man was written about, legitimately. >> he's like -- >> he's incredibly intelligent. >> if you -- >> they -- >> do you know he has a pole on his plane. >> guy who can just make up stuff -- >> i'm sorry, i know tony stark is a -- >> i think that's where they took some license, some liberty. maybe tony stark is based on robert downey jr. no, he's cleaned up his act. >>> watch shares of gap. getting a boost in after hour sales. increase in 7% revenue topped analyst expectations. gap is offering some upbeat guidance as a result -- are we at a break already? >> we are. >> we never go this early, do we? >> you're sad? >> i'm not sad. then we don't have to rush things early. >> trying to stay with cues and -- >> girl scouts, girl scouts. the ceo, have you met her? >> i have not. >> she's a hoot. >> she's on later this hour. >> we blogged about this. big blog. we loved -- one of the most -- one of the most successful women -- you were a

company's market cap more than $8 billion and elan enjoying a good percentage of the upside today.e land of gatsby on long island to look at how the millionaires live and how they compare to the ones of the great gatsby era. jeffrey boyd will join us with his first reaction to the company's first quarter results. [ male announcer ] my client gloria has a lot going on in her life. wife, mother, marathoner. but one day it's just gonna be james and her. so as their financial advisor, i'm helping them look at their complete financial picture -- even the money they've invested elsewhere -- to create a plan that can help weather all kinds of markets. because that's how they're getting ready, for all the things they want to do. [ female announcer ] when people talk, great things can happen. so start a conversation with an advisor who's fully invested in you. wells fargo advisors. together we'll go far. ♪ >>> the highly anticipated film "the great gatsby" opens today. and our own is out in gatsby island. taking a look at millionaires then and now. what a beautiful day to be out there, robe

those are the words of morgan stanley as some continue to have their doubts about elan musk and the modelsense. but 37% of the stock was short. this is what you get. it's how you spell pain is being short tsla. why they don't sell stock and raise cash. i know they don't potentially need it. that's when you do it, when you don't need it to have a nice little bit of income or cash in the bank for what will be a bad time one day down the road. >> do you know anybody who drives one of these, by the way? >> anybody that you know? >> did you test drive one? >> i've not, but i just wondered if we'll start hearing people start using these in their daily lives? >> i do not. i'm happy to test drive one. >> take it down broad. >> exactly. >> when we come back, christie's auction house to put the 101-carat mega diamond nicknamed big mike -- >> because you would wear big mike, wouldn't you? >> on display tomorrow. how much could the pricey piece fetch? we'll get the details on that straight ahead, plus mobile security firm look out, teaming up with google to ensure a higher level of protection against

a lot of talk that elan is on the road talking about tesla.those remarkable moves that on the backs of people who shorted this stock. don't forget solar city, and talking about how the utilities have to get into solar city's business. elon musk is what people want to invest in. he's a remarkable man. he's been underestimated all wrong who bet against this young fellow who had a version. >> much to the chagrin of everybody. >> do you agree here? not buy it. do you actually short it here? let's call it 110 and not 109. i would be advising people to do the opposite of -- i remember, david, noczem arks going up every single day. david, the reason why i had windows that could not be open, is it was a lesson learned and just because the stock goes up a lot doesn't mean, you know what? that's short on valuation. you are short because you believe there is something fundamentally wrong. tesla made a profit. i'm sure people would dispute that and until the sec disputes it, it's a profit. a couple of other stocks i want to watch here in the green as oppo