human genome is the target of this unsolicited buyout offer from glaxo-smithkline. it is a $2.6 billion offer, giving human genome shareholders $13 per share. but the market thinks h-g-s-i is worth more. the stock closed over $14 today after the company said glaxo- smithkline's offer doesn't reflect the value of the company. the two firms already know each other well. they sell a drug for lupus together. two other drug companies, gilead and bristol myers squibb, reported optimistic results from a new experimental hepatitis-c drug combination. gilead shot up 12; bristol-myers was up 1%. and that's tonight's "market focus." what do oprah winfrey, donald trump, and kim kardashian have in common? today, house democrats named all three as some of the business owners who would benefit from a small business tax break proposed by republicans. but supporters say its a much- needed boost for small business. the bill passed the u.s. house today by an overwhelming majority, 235 to 173. this is just the latest battle in the congressional war over taxes. sylvia hall has more from

glaxo is this the answer? >> it may be. it is a grassroots thing, people taking what really matters into their own hands. >> publicly funded preschool places are at a premium. a co-op cost less than a private preschool and parents find the process less stressful. >> the preschool market in new york city is very competitive and very expensive. this was a very low-key way to introduce our family into the entire experience. >> with the baby boom underway in brooklyn, a demand for early indication it is early education is growing. >> it has lead to immense pressure on school places. there are more children assigned to public and private preschool programs than there are places available, and the competition is fierce. the director of this early care center says new york has added pressure. >> yes, i would say new york is more intense about it and parents are more driven because they want the best for their children. >> many parents would like the city to expand preschool provisions, but education is not compulsory until age 6.

the glaxo letter was fairly friendly. but we'll keep a close eye on it.ossible that there is no other company but human genome shareholders say, you know what, we believe in the growth of this company. maybe down the road we sell it but we believe in these three drugs. >> maybe some of it is -- we have large cap names doing quite well as we await the tumi opening. i always like to see a turn in the market after europe is disappointing. we've got verizon starting to pick up. i see stocks that were working today that were failing yesterday. i like that. >> we want to head back to carl and bob, still in the crowd. bob, as we tick closer to the opening, we have better indications of pricing. what is it so far? >> looking at $25.50. remember something, the price talk here, $15 to $17. price s at $18. is it $25.50 still? >> a little bit higher. >> it could be $26. talking 18.8 million shares. and also very intense brand loyalty. one of the traders here was quipping they opened one of their big luggage bags and found a tech company inside. that's been the joke.

today, the high court will hear oral arguments in an overtime pay lawsuit against pharmaceutical giant glaxo- smith-kline. president obama is calling for a thorough investigation into the secret service prostitution scandal in colombia. members of an advance team for president obama were in colombia, ahead of the president's visit. during that time, they allegeldy hired prostitutes and one man refused to pay. prostitution is legal in colombia. but 11 secret service agents, including two supervisors, have been suspended. if it turns out that some of these allegations were made in the press are confirmed, then of course i will be angry because my attitude with respect to the secret service personnel is no different than what i expect from my delegation here ... and congressional leaders say they intend to launch their own investigation into the behavior of the *entire* secret service. coming up next we have today's business headlines and later in the lunch break we're learning about progressive cooking throughout the week i was living with this all-over pain. a deep, throbbing, persistent ache

glaxo made this offer of $13 a share. that was an 81% premium to wednesday's closing price of $7. human genome rejected that bid, saying it didn't reflect its true value. you may have heard starbucks getting flak, especially from its vegan customers for using dried bug extract as a pink coloring for its strawberry frappes. well, the coffee chain now says it plans to stop using that extract, will phase it out by june. starbucks says the new color will be replaced with a tomato extract instead. live at the stock stocks i'm jane king, bloomberg news, for reporting for wbal-tv 11 news. >> jane, when you come back, i understand you have good news from chipotle, and apparently now is the time to plan a trip to a national park. >> yeah, chipotle, first of all, no price hikes this year, so i'll have more details on that. and national parks are free next week. if you've been thinking about going to one, boy, it would be a great time. that's coming up. >> thank you. see you next hour. >> got to love free. >> always. >> 5:22, 48 degrees on tv hill. still to come -- we'll look at some of the

buy some necessarily, as stra zin ka, glaxo-smith kline. >> you raised an interesting question.want to buy dividend-paying stocks, you want to buy u.s.-focused dividend payers because of what's going on in europe. >> yes and no. i'm coming from a european barveg. >> you have to face reality regard regardless of who you're working for. >> you're paying a dividend yield of 4, 5%. traditionally they are more focused on dividend payments. investors are far more attracted to higher dividend companies and by nature. i have to agree, looking out in the next year or two, it's because of dividend growth in the u.s. and starting from a low base and the fact that companies have such large cash positions that they want to put to work, either invest in their own companieses, buy other companies or start paying a dividend, i think the ones who start paying the dividend are going to be really attractive. >> i wonder if companies start paying out dividends if taxes are going to be raised so much. >> payout ratios are at an historic low of 20%. long-term average is closer to 45%. they are sittin

my sense is glaxo will raise the bid if nobody else comes in. human genome i think is the most interesting amount. >> is pfizer dead money? >> it's always dead money. it doesn't move very quickly. that's the set up for the earnings for this call. pfizer were buying the may calls and selling the weekly big numbers. they think the stock goes up a dime. i don't like to trade sthoox go up a dime in a week. >> apple halo stock and that is broad com. trading the deal that was not in monster beverage. zap technology. arrival. with hertz gold plus rewards, you skip the counters, the lines, and the paperwork. zap. it's our fastest and easiest way to get you into your car. it's just another way you'll be traveling at the speed of hertz. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovati

. >>> genome sciences rejecting glaxo's offer to take over this morning.was just over an 80% premium to the closing share price yesterday. human genome shares reacting slightly to the news. just up 97.5% for hgsi. look at all the other derivative moves. gilead, dendreon, sequenom and intermune rising higher in sympathy. anybody buying these on the expectation of some other deal here? >> we're not buying. actually the only health care name we own is, well there are two. express scripts totally different, love it, and abbott labs because they're splitting but biotech, these are pretty speculative. >> simon? >> it's so difficult to trade in biospace. i think you can take two ways to look at it. broadly speaking etf like ebi or you mentioned dendreon and also medevation if you want to be more speculative. >> there's ban lot of talk coming, this isn't something you can't pick up just from logging on to the internet. a lot of people interested in the company. the company possibly interested in selling themselves. i think a deal gets done and when it does get don

>> say that these people in this case, the court heard about these glaxo employees, sales guys who say we're working all the time and we deserve overtime and you think they should get it. >> absolutely. >> why? >> first of all, you know, the pharmaceutical industry has to follow the rules like everybody else. and the key here is that overtime laws are strictly construed when workers are exempt and the fact that workers are not entitled to it doesn't make any sense to me. people are working all the time, steve. they're, you know, being forced to answer their phones and do texting and e-mails after hours. i mean, where does it stop? >> a lot of these guys get fantastic perks as well. faith, you say, come on. you shouldn't be getting paid for all that extra time. >> right. we're in a tough economy right now. jobs growth is slow. our country is racking up massive debt. and if your choice is you have a job, you're a salaried employee making $70,000 to $80,000 a year and answer being the phone a little bit, you know, at night or answering e-mails on your blackberry after hours vs. not workin