on fox business network that cannot be right. yes, it is right. yes, it is right. 8:00 p.m. is our new time. my fox business network show now on at 8:00, and people are saying, well, you are up against bill o'reilly. yeah. bill ... i have never seen o'reilly sweat like he is sweating. >> and unlike this movie, the threat of an exodus is very real, like my rating at 8:00. i want you to meet the democrat, too. who is not talking about his own party. why is that? graduation, huh ? crazy, right ? well, with this droid razr by motorola on verizon 4g lte, you guys can stay in touch. ( grunts ) cool. you can video call on skype... send photos. yeah, okay. ah, let's do it. get $100 off any motorola 4g lte smartphone, like the droid 4 now just $99.99. verizon. ♪ ♪ ♪ [ male announcer ] the jeep grand cherokee has won more than just respect. ♪ mine was earned off vietnam in 1968. over the south pacific in 1943. i got mine in iraq, 2003. usaa auto insurance is often handed down from generation to generation. because offers a superior level of protection, and because usaa's commitment to

we had that story yesterday. >> fox business network. always good stuff. >>> aunsly, over to you. >>> time to get a check of weather with storms across the central part of our nation. our weather machine joins us this morning. >> good morning ainsley. we have a lot to talk about in the weather department. a soggy wet day or wet weekend. we could have tropical developments along memorial day weekend. upper midwest continues another system moving to the northwest. take a tour of the radar and show you where we are seeing strong storms across portions of the central country. dealing with severe thunderstorm watch in effect through parts of kansas up toward nebraska. good news is we don't have any severe weather warnings. we could see potential for large hail damaging winds and isolated tornadoes across this part of the country. western great lakes, minneapolis, kansas city or in this area of yellow threat for damaging hail isolated tornadoes. hurricane bud, our first official hurricane of the pacific season. this is off the coast of mexico.

we have a fox business network . donald trump's wife.e malkin and the brand new book a man's real place is in the kitchen. if you stick arounded long enough see my interview with muppets. r ] the inspiring story of how a shipping giant can befriend a forest may seem like the stuff of fairy tales. but if you take away the faces on the trees... take away the pixie dust. take away the singing animals, and the storybook narrator... [ man ] you're left with more electric trucks. more recycled shipping materials... and a growing number of lower emissions planes... which still makes for a pretty enchanted tale. ♪ la la la [ man ] whoops, forgot one... [ male announcer ] sustainable solutions. fedex. solutions that matter. when you throw away money on wasted electricity, you're throwing away everything you could have bought with it. saving energy saves you money. >> 8 minutes before the top of the hour. live pictures from the dragon spaceship. gets ready to wrap up the historic flight and head back to earth today. joining us live from orlando is

robert gray with fox business network is live in new york with the business beat.ood morning to you. >> good morning. >> let's talk about this. the jobs report is coming out today. what are investors expect something. >> we are kind of in a holding pattern until that report due out in two hours and six minutes time from right now. hooking for a gain of 170,000 jobs for the economy last month. watch to see if there were any revisions to the march number. it was just 120,000. that was a very disappointing number. a lot of investors i've been speaking with and strategists are saying this is very key. they don't want to see two disappointments in a row. >> let's talk about facebook. their ipo is getting ready to come out. investors will soon be able to friend them. will they like the terms? >> yeah, that is in question. they did update the status late yesterday and saying they will sell the shares between $28 and $35 apiece. they are looking to raise almost $12 billion. it dwarfs google which raised just $2 billion in 2004, the same year facebook was founded t will val

gerri is with us from the fox business network. there is a lot of finger pointing right now.ust about what they are trading this at but the screw ups the nasdaq made. >>gerri: big mistakes, a small glitch in processing the trades just a millisecond, and it screwed up everything and the nasdaq had to match orders by hand. very bad. but, at the end of the day, what happened, one thing that drove the stock price down is morgan san franciscoly, a lead underwriter their analysts came out saying it was bring down revenue estimates and similar moves in other big investment banks so people were saying the facebook investment is not what they thought. and the head the s.e.c. today in testimony in front of congress saying, look, we hope, small investors should not lose confidence. with not? there was a big glitch. a big problem. the markets need to be fair. open. and work correctly so the small investors can rely on the markets to invest for retirement and kids' education. >>shepard: at fidelity you understood have half a million just to get in or friends friend family for the i.p.o. o

adam shapiro with fox business network is live in new york with this morning's business beat.ood morning. we kind of knew this might be coming. the debacle with nasdaq's handle of the facebook ipo has ledy to alawsuit now. >> i man named philip goldberg in your neck of the woods actually filed suit against nasdaq here in manhattan federal court yesterday but seeking class sax status essentially saying that thousands of investors like himself lost thousands of dollars and it will add up to potentially millions of dollars because the nasdaq failed to execute, buy, sell and cancellation orders in a timely and proper manner. so that suit is now filed. we'll see if they can get class action stt alsoened if it will go forward. >> now, there is even more trouble for one of the underwriters. morgan stanley is under investigation now. >> yeah, the financial industries regulatory authority is looking for whether or not morgan stanley inappropriately tipped off select clients as to the fact that one of morgan stanley's analysts had cut the outlook for facebook saying that the potential f

family reunion but we found out why they are duking it out, they found out they don't have fox business network and will not be able to watch our special coverage of the recall vote like from wisconsin. tonightly, it does kick ball on fox news and fox business network so you get one world if you only is one of networks. so a lot of folks are excited about hearing from wisconsin republican governor scott walker headed into the vote. and we also have called on democratic opponent, milwaukee mayor, and our tuesday coverage continues as the votes come in. when the unions in this country, get a major victory or suffer a major defeat we are there all night if need be watching this. >> now the corner of wall street and broad stops picking up because the stimulus could be kicking up some of the numbers are looking down, way down, consumer confidence is plunging in may. that is the biggest drop. and economists expecting confidence to rise as gas prices came tumbling down but it did not happen. we should stress the confidence figures are volatile numbers but usually our market watcher extraordinaire, whe

fox business network goes one-on-one with the oracle of omaha.to the zoo goes horribly wrong. don't think twice before getting into the cage with a cheetah. you don't. don't. >> this is the fox report. bottom of the hour. time now for the top of the news. self-proclaimed master main of the september 11 attacks in court at this hour still. at guantanamo bay. mohammad and his 4 co-defendants being arraigned on charges including terrorism and murder. all of them kneeling in prayer at the start of it in what appear to be a silent protest against the military tribunal. >> search for the missing tennessee sisters and mother. fbi now saying 2 bodies have been found in a mississippi home associated with the man believed to have kidnapped the family. the bodies have not been identified. >>> and within about the past hour i'll have another. winning the 138 kentucky derby today at churchill downs. horse written into victory by derby rookie. congrats to him. i love the hatings there. so great. >>> well the third richest man in the world billionaire warren bu

patty ann in >>> now stories you can bank on joining us from the fox business network is lauren simonetti. bad news for jp morgan chase. >> nice color by the way. >> we think like every morning. >> it's another bad day for them. they are getting hit with pair of lawsuits saying the company and ceo jamie diamond misled investors on an earnings call earlier last month. at the same time the $2 billion lawsuit we were talking about and we were speculating it would be more than 2 billion, the new york times is reporting it's at least $3 billion because of the hedging revealed last week. >> facebook a big public offering coming up. we have the price how is it going to go? >> it will price initially tonight. facebook increased the price range between 23 and $38 as share. that would raise $104 billion that's what they would value the company as raising 16 billion in the ipo. that would make it the third biggest ipo in the u.s. essentially behind vista and general motors. >> this is a big one. meanwhile sketchers had these tones shoes but they were accused of hyping up the toning benefit too much.

fox business network diane mess said doe has the story for us.g, diane. >> tell marketers are banned from robo callers. the campaign called political opinions of america may be betting around that -- getting around that it sounds suspiciously like a time share pitch. they ask them to complete a quick survey with questions like what is the most important thing to restore our economy or how would you rate the president? they translate to a live operator thanks to anonymous donor. he requires a court fee. >>> he exposes people sales pitches for time shares. a boston law firm is preparing a class action lawsuit against the group which is behind that campaign telling foxnews.com any one receiving these calls may have a claim even if they didn't save the company money. the company is doing nothing illegal. he said political opinions of america makes calls on behalf of numerous mc's for gauging public opinion and makes use of incentives for survey programs. spokesman sees the do not call registry. they should file a complaint at not call dot gov or call

>> all day on the fox business network with my featured segment called "the trade" with sandra smith give you actionable trading ideas of the tune into fox business network. >> where will you at? >> fox business news. i will be on "the view" f

robert fox business network. thank you so much. it is 12 minutes after the hour. you remember this gsa official who was caught on tape boasting about lavish spending at a conference? >> we would like to talk to you about paying for the party held at the commissioner's last night. >> guess what? that guy on the right with the microphone, he is back to work now and it is all on your dime. california drivers thought they were buying special license plates to help the families of 9-11 victims. turps out the debt stricken state may actually be profiting. we will have the details ahead. >>> as we head to the break let's look at the prices at the pump. national average is $3.53 a gallon. $3.63 a gallon. sarah... will you marry me? i think we should see other people. in fact, i'm already seeing your best friend, justin. ♪ i would've appreciated a proactive update on the status of our relationship. who do you think i am, tim? quicken loans? at quicken loans, we provide you with proactive updates on the status ofour home loan. and our innovative online tools ensure that you

>> all day on the fox business network with my featured segment called "the trade" with sandra smith i give you actionable trading ideas of the tune into fox business network. >> where will you at? >>ox business news. i will be on "the view" fray day. >> saturday at the angels theater in water burr re, connecticut. >> thanks to sandra, bill, joe, bernard. that's it for me. i'm greg gutfeld. see you next time. tonight. >> it's a very special edition of the great american news quiz. >> and you picked? >> teddy bear because i like teddy bears. >> [ laughter ] >> hi. >> can we replace doocy? is it too late? i guess it is. is it. >> bill: steve doocy, martha maccallum, and you compete for bragging rights. >> next we have child movies for you. >> we have five for you doocy. lacy and shirleyes temples for doocy. >> like baby you can drive my car.

for more we go to lauren simonetti on fox business network. what does this mean for us?> this is unprecedented. the feds u.s. legislator reauthorities are given approval of three chinese banks one of them the industrial commercial banks is the biggest in china to buy some u.s. banks. what it means is perhaps we can have someone dominated in our own accounts. it gives americans more access to market which have been tough to get into at this point. we have sent a huge team of exports to go over to china to look at their operations before they approve this. normally something like this would take two months not more than a year. >> providing finance to those chinese companies. gasoline prices. people are wondering because we are approaching summertime people take vacations. >> national average 3.75 down a nickel from a week ago. one of the reasons they are coming down is crude oil prices from which gasoline is refined. $96 a barrel right now. we were at $106 last week a. huge drop. adding more fire to those declines is the fact that oil supply is the highest since 1990. >>

. >>> but first hires fox business network's neil cavuto. -- here's fox business network's neil cavutor auto sales jumping 20% in april with more drivers buying bigger pickup trucks and jeeps but general motors and forward seeing sales drop last month, a slowdown -- and ford seeing sales drop last month. meanwhile america's manufacturing sector growing in april by the fastest pace in nearly a year, factories planning on increasing production and hiring more workers, that news sending stocks to their highest level in more than four years. more pink slips over at bank of america. reports out say it plans to cut 2,000 more jobs from its elite investment banking unit, the latest round coming on top of the 30,000 layoffs already announced last year. a las vegas legend getting a facelift, the owners of the sahara hotel and casino snagging $3.5 million in funding to redesign the iconic resort. the sahara closed down last year. the owners betting on a big return when it reopens in two years. good luck. that's business. i'm neil cavuto.   >> this fox 5 stock market re

charles payne joins us now, fox business network. ber of companies, businesses, saying that it's going to be hard for them to keep their health care plan and now a couple of schools are considering dropping them. >> absolutely martha, you just said it, 80 percent, maybe 100 percent jump in premiums. are you kidding me? listen, one of the biggest news stories of the year has been college tuition. it's outpaced inflation by a jillion miles. it's outrageous. the old saying if you think health care is expensive now, wait until it's free, obviously someone has to pay for this, and you know, if some of these schools who are already struggling find themselves paying $100,000 per student now, by the way, that's just off to the races. in august you're going to hear a gun go off. if omabacare is allowed to go on you're going to hear starters going off and it's off to the races and these premiums are going to only higher and higher someone has to foot the bill and i think this is what's going to happen, obviously tuitions are going to go extreme

fox business network has more. >> the bill is known as snopa.y are reducing legislation that would protect job seekers from being asked their log in information. violators would face a fine of 10,000 dollars. this would apply to schools all of the way from kindergarten up to higher education. re lee he issed a statement requesting user's log in information and says this you are der minds the security of the user and user's friends. it also potentially exposes the employer to unanticipated legal liability. this isn't the first time congress has tried to address the issue. in march it said no to a bill that would allow facebook to regulate the issue. it is the first federal legislation that would deal with this issue head on. >> thank you very much diane mess said d macedo. >> the fooifrt t fight over thef allegiance. they are suing the school district after the girl was punished for not resiting the pledge in class. was this her constitutional right not to recite the pledge . >> she shouldn't be punished. that's her free tomorrow to do. we live i

and now our reporter from the fox business network is with us. a lot of people on fox business network last week were saying "hang on, make sure, see what happens after a few days." and sure enough. >>guest: here we are and a lot of critics are coming out of the woodwork. the fact remains whether this is a if deal or not depending on what side of the table you it is on. people are calling this even though doubters, a perfectly surprised deal. here is why if you facebook and you see a pop, 5 percent, 10 percent, 50 percent or 100 percent it is pocketed by investors so it perfectly priced that it rose only 25 cent on friday and today it is coming down by 10 percent use mentioned but, for all of this, there were glitches along the way. in its debut the company saw underwhelming investor demand and no big stop "pop," and the bankers had to step in and prop up the stick to keep it above the price of $38 and a lot of trading problems on the nasdaq, it was delayed by frye -- 45 minutes and morgan stanley may have sent billions to weapon it up above $38 s

charlie gasparino fox business network is joining us now, doing a lot of reporting on this story. i don't think that is necessarily news. what we've been reporting on the fox business network all along is the estimates are just estimates. jaime diamond has said it could get larger. what you're hearing now is how much larger it could get. it could get smaller too. the minute i hear two i always assume four. the market assumes four. these are reporters doing their jobs and estimating exactly how much in the worst case scenario it may be. jenna: worst case scenario may be $4 billion. we were seeing video of jaime diamond on the screen. >> reporter: $4 billion is probably one quarter of what jpmorgan will earn this year. jenna: would that in any scenario threaten the financial system in any way? >> reporter: no, no, no. i think the bigger problem is not whether this threatens the financial system, the bigger issue is does this prove -- remember this came out of the you pwhrao blue, no one new, jamie diamond is a sharp guy and an honest time. i've interviewed him many times, i've known

. >> we'll go live to fox business network in new york and talk about good news no post offices that were on the chopping block. >> you won't believe where lauren similar netty was yesterday. we've got the video. you have to see this. >>> plus a record setting ride. it is confirmed. as a former surfer, i am just stunned. this is surfer gar its mcnamara. he rode a wave larger than anyone did. guiness world record verifies this wave off the coast of portugal last november was 7 # feet in top to bottom. look at this thing. >> that is incredible. look at that. hold on. he was honored for the feat in a ceremony last week. again, garrett mcnamara rocking it out in portugal. back in a moment. a moment. homicide of young people in a moment. america has an impact on all of us. how can we save these young people's lives? as a police chief i have an opportunity to affect what happens in a major city. if you want to make a difference, you have to have the right education. university of phoenix opened the door. my name is james craig, i'm committed to making a difference and i am a phoenix. visit

we are talking more about facebook's huge day later this morning with fox business network. >>> also in this morning's top stories, just one day after the death of d.c. music legend chuck brown, another star is lost. lost. & last dance for love &&. >> donna summer died yesterday after a battle with cancer. president obama and first lady hi shell obama shared their cop dole exs calling her voice, quote, unforgettable. summer rose to fame in the '70s with a string of disc owe hits and went on to win five grammys. donna summer was 63 years old. >> she will be missed. i think a lot of us didn't know she was battling cancer. >> right. >>> a driverless car put to the test on the streets of d.c. we'll show you some pretty incredible new technology that could change the way people get around. >>> nobody like it when stuff gets stolen from their desk. the cookies just sort of walk off. and when you work on capitol hill, chances are you have some pretty important stuff stashed in your desk. we are more on the mysteries in the halls of congress when we continue.  you can't

and gerri from the fox business network is back.hichallys are making the most from the fees in >>gerri: delta is making $864 million. american, $594 million. u.s. say up there, and people are fighting back, they are putting everything in the 22" bags so spirit airlines is getting back at them and they have raised $134 million in fees. so the money keeps on keeping on. >>shepard: do we expect the fees to go up? down? what? i am betting up. >>gerri: i am betting up. the new spirit airlines fee of $100 for a carry on you fail to pay for in advance starts tag that and the bet way to figure it out look at jet fuel costs, that is up, and delta and jetblue and american are expected to raise fees on second checked bags for national flights coming this fall, so expect to see that here, as well. >>shepard: terrific news. have a great weekend. >> a potential game changer for space travel where they do not charge for checked bags. a private company is set to lunch supplies to the international space station. the company is space x, scheduled to

lauren simonetti with fox business network is live in new york this morning.rning, lauren. >> good morning. >> three days left until the weekend. i'm getting better. >> all right. >> we'll get to the heavy lifting with the mark nets just a moment. first, let's talk about our morning buzz, the makers of folgers and dunkin donuts coffee helping our bottom line. >> coffee terrifickers can expect to save some 6% on average new drink coffee made by j. m. smucker. they make jelly but they also make coffee. this is because the coffee beans, the commodity have come down drastically. they rose so much last year and we are seeing a significant cooldown. the big question is starbucks and kraft going to follow suit and give us more savings for our morning cup of coffee as well. >> now to the markets. stocks fell for a third straight day. what is going on there? >> it is greece. for the past nine days, greek political parties have tried to put together a coalition government so they could stay in the euro zone. that is just not happening. over the past nine days, the dew i

lauren simonetti with fox business network is live with the business beat. >> good morning. >> may istarting out too well for the markets, is it? >> very fickle month. we keep getting conflicting data on the health of the u.s. economy. one day it is strong, the next day we're really disappointed. but we are concerned about a private employment report that showed a big drop in the number of private jobs create in the month of april. that is one of the ropes the dow is down nearly 11 points yesterday. and it is making investors nervous for what is going to happen tomorrow when we get the big government jobs report for april. so conflicting signals on the economy has investors just sitting on their hands and waiting for what to do. >> that moody market, missed messages, my gosh. >> let's talk about target now. it is saying no more to the kindle in its stores. what is going on here? >> i know. really strange move because the kindle was a great seller at target. they will no longer have amazon products including the kindle e- reader and the kindle fire tablet as soon as this month. in all

. >>> up next, we'll go live to fox business network in new york.t when you thought all the talk about facebook'sism po is dawn, no. a glitch has nasdaq rethinking things. >>> think your represent is high? how about this. an apartment in midtown manhattan just sold for more than $90 million. oh, my gosh. that is the most ever paid for an apartment in new york city. the nearly 11,000 square-foot pad went to an unnamed buyer but we all want to know who it is. >> lottery winner maybe. >> back in a moment. [ female announcer ] safeway presents real big deals of the week. or how to get great prices on things you need. we know you look around for the best deals. that's why we give you real big club card deals each week. right now, deer park water is just $3.33 a case. heinz ketchup is only $1.49. that's for the party size. and hillshire farm sausage is an incredible $2.49. real big deals this week and every week. only at safeway. ingredients for life. real big deals this week and every week. only at safeway. ingredients for life. still thinking of replaci

fox business network's peter barnes has the story. >> reporter: a $2 billion trading loss at jpmorgan, the nation's largest bank, rocked wall street and washington, but so far it does not appear to be threatening the broader economy or banking system. >> think of how much better shape the banks are in today in 2012 than they were in '07. it's worlds of difference. they're sitting on more than a trillion dollars in cash. >> reporter: jpmorgan stock fell 9% friday dragging other banging stocks down with it. a source close to the matter said the sec launched a preliminary investigation. the losses involved risky bets with hybrid securities, the kind that helped trigger the financial crisis in 2008. >> i think it's safe to say all the regulators are very focused on this, but i really can't comment. >> reporter: jpmorgan is considered one of the financially strongest banks in the world and until now one of the best managed. even with the losses the bank said it could report a $4 billion profit this quarter. ceo jamie diamond said the losses were a sloppy self- inflicted embarrassing mistak

the fox business network's robert gray with the news live in our new york city newsroom.ge today came om investors who, i guess, are betting that these losses will continue. >> yeah, absolutely. jon, good evening. that's absolutely what we saw in today's session. keep in mind the original price range of the ipo 28 bucks a share. very near where the stock closed in today's trading. there are big concerns over the rate of profitability growth at facebook. the legal overhangs which you dom documented there in the intro. then of course tonight we are getting word media reports out that the ftc, the federal trade commission is going to take a longer look at the proposed $1 billion acquisition of photo app. sharing site instagrams. all of this weigh be 00 stock as today you were able to trade's os on the stock very first time. traders making bets that the stock was going to continue declining. most heavily traded debut for options ever according to trade alert. biggest bet out there $900,000 worth of options betting pay off the most if facebook shares continue to slide. these,

fox business network's adam shapiro with the latest.t south at jpmorgan chase is under the microscope now of the federal government. the justice department says it's investigating the $2 billion trading loss. that news comes as the new york office of the fbi announced they, too, are opening an investigation into the deal. and ceo and chairman of jpmorgan chase jamie dimon had to answer questions from shareholders at their annual meeting in tampa florida. no cameras were allowed in, but audio was broadcast out. dimon spoke frankly about the infamous trading portfolio designed to hedge against risk jpmorgan chase was taking. >> we ended up with a strategy that was flawed, poorly executed and vetted. unfortunately these mistakes were self-inflicted. >> reporter: dimon says he's not against new government regulation but adds they should be smarter stronger regulations based on facts and analysis. >> we do continue to believe in the importance of being able to hedge risk as an institution. however, we also understand the need for rules and p

we will monitor on fox news and fox business network.s, the fundraising numbers are in, governor romney aggressive fundraising push is paying off, raking inasmuch money as the president did in that in, is it a fluke? real? who knows better than this young lady, a big money fundraiser. obviously, more "friending" him. >>guest: the party has started. this is, now, everyone that was sitting on the fence that was crying, newt will not be the nominee, santorum is not the nominee, the train is left the station and they don't want to be left out so everyone is getting on board. now the push is bigger than ever. with obama sending a mixed message where if private he is anti-wall street, and, then, in public, he is anti-wall street, and in private he has a civil union with wall street with them all giving to him at parties so you see more and more money come romney's way. so, face it, $1 billion race. >> that is the first five minutes of zuckerberg's day. so, is wall street as anti-obama as it appears? i mention that because his rhetoric has been

robert gray with fox business network is live this morning in new york.morning. >> good morning. >> i think you would agree it is nice for i change we're table to talk about stocks up across the board yesterday. what is behind the move? >> it was all the news coming out of europe and asia as well. we heard news that greece looked more likely to stay in the euro zone and china was going to step up moves basically to boost its economy though we are seeing the opposite today up fortunately. don't want to rain on the parade but after the big gain yesterday, we are seeing a little bit of give back. the futures pointing to a decline before 100 points on the dow as we are getting negative news flow out of europe, big concerns over italian debt and banks. so a little bit of give back again. if you are looking for a silver lining, crude is down below $09 a barrel. that means gasoline price should continue to fall. >> that is good as people are traveling for the summer. we've been talking about facebook stock taking a nosedive really, down about 4% we've been repor

. >>> coming up next, we'll go live to fox business network in new york. you can get just about anything on amazon and soon. that will include your high fashion fix. >> we'll explain as we continue. time now 6:20. as a fashion blogger, i love when i get to do a morning talk show. i'm always talking about t.j.maxx. i tell people how to look like a million bucks without spending it. fashion direct from designers. savings direct to you. t.j.maxx. let us make a maxxinista out of you. moms make everything sweeter. this mother's day, return the favor with the blooming hearts bouquet. chocolate dipped strawberries and pineapple hearts. visit, call, or go to ediblearrangements.com - ♪ edible arrangements >>> welcome back. saving up for that high-end outfit, man a pair of shoes, designer belt, a popular web site is now making it all for all of us very easy to find them. this this morning's business beat, we'll start off with how your stocks are trading. lauren simonetti with fox business network is live in new york. happy tuesday. >> happy tuesday. we survived the

let's say good morning to lauren simonetti with fox business network in new york.ow is your tuesday going? >> good. how are you? >> so far, so good. inching closer to the weekend so we like that. >> you have a couple more days, will. >> let's get started with the markets. monday was a banner day other wall street. >> great day. it was up 2.5%. don't get too excited. we have futures flat to slightly lower. there wasn't much conviction behind the buying. you have to look at what is going o we are heading into the summer. that means investors get kind of sleepy. earnings season is basically over and we don't know what is happening in greece until the next round of elections june 17th so many people are just sitting on their hands right now. >> let's talk about facebook now. stocks down 11%its on first full day of trading. what happened there? >> i call this fall on your facebook. i mean this story -- there has been nothing normal about facebook's coming to market. so they kind of didn't do anything in their first disastrous day of trading on the nasdaq. then, yesterda

. >>> coming up next, we'll go live to fox business network in new york.makes a much- anticipated announcement. >> as we go to break, something cool to see in the skies this eight. look at. this can you catch a so-called super moon. the full moon set to rise at 11:35 saturday night will make its closest approach to earth so far this year. isn't it gorgeous? >> it is. that is nice. >> it hasn't been that long since we saw a super moon. the most recent one was in march of last year. here it is, rising over england right now. >> is that star wars music in the background? >> i think so. >> for a super moon. >> we're back in a moment. [ male announcer ] what can you do with plain white rice? when you pour chunky beef with country vegetables soup over it... you can do dinner. four minutes, around four bucks. campbell's chunky. it's amazing what soup can do. that's good morning, veggie style. hmmm. for half the calories plus veggie nutrition. could've had a v8. >>> a good day on the market and some much anticipated news from facebook. lauren simonetti with fox bu

so, we will get to gerri willis from the fox business network. what is the latest on the lawsuit? >>gerri: of course, the company saying we will defend ourselves and here is what they said. we believe a lawsuit is without merit and well defend ourselves but last night we talked of morgan stanley lowering the revenue forecast. now facebook advised the analysts to lower the forecast. now big questions whether individual investors should have access to that information like the best clients of morgan stanley. >> are this violations we can see? >> the answer is, we do not know because the investigations are just underway and the s.e.c. and the self-regulatory organization for brokers, they are both looking into this, and, adding fuel to the fire, are reports that morgan stanley made $100 million in profit, and the other under writer made $100 million in profit so people are looking to them wondering what will happen next. >>shepard: nice work if you can get it on a big glop. and the lawyers are here, and associate editor of barrons, which is owned by our parent company. >>guest: there

on fox business network tonight. now, governor romney is detailing his education plan today. system that gives parent as greater choice. >> if the first time in history, federal education funds will be linked to the student so that parents can sends their child to any public or charter school of their choice. >>stuart: money will spent? charles payne thinks so, yes, he says it is money well spent. >>guest: i love the idea. i was on the board of the claritier school in the south bronx for a couple of years and our charter schools in the poor of the congressional district in america, amazing the difference it makes. >>stuart: we are talking about avoucher system and parents get a catch voucher and you can spend it on any school you like in your area, so to speak, so the schools compete with each other. >>guest: competition is the key. listen, the sound bite we used was perfect. we will be linked to the student, the interest of school linked to the student. how about that? rather than linked to the unions, rather than a link to the teachers, how about we get rid of bad teachers,

the fox business network's sandra smith is with us now. sandra, the folks say that the facebook value was inflated and it would appear that probably it was. >> it could be the case. i mean, one of these lawsuits which was filed in new york claims that the ipo documents from facebook either had untrue statements left out important facts. one of them even saying, quote, severe reduction in revenue growth was left out. another lawsuit was filed in california holding not only facebook but the underwriters of this ipo like morgan stanley accountable saying that the ipo documents mislead investors. both of the lawsuits that had been filed in both new york and california seek class action status on the behalf of the investors who bought facebook shares on friday and then lost money. so if you bought monday or tuesday, it's not to protect you it's if you bought on friday. >> shepard: thinking the worse may be over for the stock. >> most analysts on wall street are still very leary to come out and put any recommendation on the stock. i will tell yo