that is a fresh 12-year low for jc penney. courtney reagan is outside of a jc penney this morning. carl. many are not surprised at the nature of the move with johnson stepping aside. many analysts that i have spoken to who speak to management often are surprised with the timing of the move. many thought johnson would be given one or two more quarters to complete the transformation and move the needle more on the sale. and many speculate that had the shares would really pop if and when johnson did indeed step down. clearly investors are uncertain about the choice for mike as the interim ceo. shares seeing the biggest plunge sbins the company announced the fourth straight quarterly loss when shares plunged back on january 28th. i spent time with johnson and while he nitt eadmitted it was h year, he was still steadfast in his belief that this strategy was the right one. on the one-year anniversary i asked johnson what he would do different now that he knows what he knows now. listen to what he said. >> if i that had to do it over again, i would do it welcome like we did it. i would ch

we'll ask him about jc penney, as well. also steve liesman talking with boston fed president eric rosengren, when will it be the time to wind down qe3. keep it here. post 9. all stations come over to mission a for a final go. this is for real this time. step seven point two one two. verify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers. at a hertz expressrent kiosk, you can rent a car without a reservation... and without a line. now that's a fast car. it's just another way you'll be traveling at the speed of hertz. [ laughter ] ♪ [ female announcer ] each one of us is our own boss. ♪ and no matter where you are in life, ask your financial professional how lincoln financial can help you take charge of your future. ♪ i'm up next, but now i'm singing the heartburn blues. hold on, prilosec isn't for fast relief. cue up alka-seltzer. it stops heartbu

that's where things go terribly wrong for jc penney. jc penney is back at its '09 lows. that's emergency room type stuff. the market is at its '07 highs. macy's returned to '07 highs. mark makes that good point. it is a good chart. here's the thing about let's just say it is someone in the emergency room. why not wait until the operation is finished and we do get a first sign of life from the patient? i think buying here is -- is risky. in a sense that one doesn't have to be a hero. let the patient heal a little bit. let's show some vital signs. that's the history of buying stocks in down trends. often it's wrong. it's why the phrase value trap was created. we think that's what this is. we let someone else take the first four or five points off the low. then become interested. >> all right. >> i think there's something to be said, though, about buying into a panic, buying when there's blood in the streets. that's certainly the case with jc penney. if you wait until the business turns around it's going to be too late. the stock will have aappreciated already. >> oh, sure.

that was really jc penney's core base. if i was walking into this situation as a ceo, obviously, you have to integrate part of johnson's plan. they bled more than $2 billion over the last three years, so obviously, there's been a lot of money put into this and obviously, consumers are reacting to specific parts of the plan. you have to revisit who your traditional customer base was and try and bring them back in. >> is there a place for penny in a world with walmart and target and kohl's and nordstrom and a whole host of others and he the right man for the job at this mome moment? ? ? >> absolutely. one key thing that's being lost in all this concern in johnson's leaving, it is still a multibillion dollar retailer. we are talking about a two location boutique, so there is obviously a place for this environment. i think it's a different place. because i work in turn around, i like to think about things being relative versus absolute. is it going to be what it was 50, 60 years ago? no, but there is a specific type of consume

ron johnson is out as jc penney ceo.inging their former boss back to the helm. >> but are investors sold? >> plus, a live conversation with st. louis fed president james bollard. a news making interview you can't afford to miss as the final hour of "squawk box" begins right now. >>> welcome back to "squawk box", everybody, on cnbc. andrew is on vacation this week. our guest host henry blogett. editor-in-chi editor-in-chief. yesterday the markets were higher. dow futures up 23 points. s&p up by just over 3.5 points. overseas in asia, japan was flat this time around overnight. nikkei ended flat for the day. cac is up by half a percent as is the ftse in london. our top story, tracking what's happening at jc penney. >> can he get it back where where he was before he was dismissed. that would be huge. ron johnson ousted. >> for some reason i thought there was a reason he left in the first place because they wanted to do better. he had gotten the company to a point -- >> when jc penney was in huge trouble they needed a rock st

jc penney, desperately needs some cash. i have some exclusive information about where they think they can get it as well, but is the plan enough to stop the bleeding? our traders are going to weigh in when the half comes back. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, tdd#: 1-800-345-2550 and get 6 months commission-free trades. tdd#: 1-800-345-2550 call 1-866-294-5373. >> jc penney shares on the move today. i rep

macy's lawyers allege jc penney is currently in violation of the injunction.asked if they could pull up the jc penney website and point out products like the martha stewart plastic pitchers and martha stewart plastic champagne flutes on sale at jc penney. lawyers argue they can't do this. this is part of our exclusive category. the judge said talk to your clients, figure it out. if you can't, i will. urging the parties to settle it for themselves. we spoke to charles koppelman, former martha stewart living chairman. he did testify the day that the judge sent this trial into mediation to see exactly what he thinks about everything that's going on here. >> i think the beauty is that when this is all over, martha's designs will be in macy's and they'll be in jc penney and they'll continue to be in all the other places that they're currently in. i think a lot of personal is now involved in this trial. and this should have been just resolved and settled before we even got here. >> reporter: and we know that's a lot of it when it comes down to it. this is big person

is home or jc penney's long awaited turn around?w retail advisers. stacy, it's great to have you with us. >> hi, melissa. >> ron johnson has called this turn around particularly in home goods pivotal. and yet this has been the worst-performing category jc penney for the past seven years straight. is this possible? >> right. it is pivotal for ron johnson here. this has to work for him. this represents about 12% of the business, home used to represent about 20% of the business years back. so there's a huge opportunity here. and they're bringing in brands like michael grays, like jonathan adler, but martha stewart, that's a big question mark. there's an opportunity, but the question is, they've got to get the traffic back to let the people know that the home is transformed and the traffic's down 17%. >> now, the problem is they have to get the traffic back in every single category, not just home goods. and for home goods, that's where the lunch has absolutely been eaten. if you take a look at home goods the t.j. max brand, their sales

which retailer got his start in the jc penney management trainee program? ray kroc, jeff bezos, sam walton or george dayton? we'll tell you in a minute. >>> the numbers are in, and ford's compact focus outsold all other vehicles with more than 1 million sales. jetblue being made in mobile, alabama. speculation is swirling after fox and univision execs raise the possibility of going off broadcast airwaves and onto cable in response to streaming rival aereo. according to the white house, women earn on average 23% less than men do. bill gross is shelling out what could be $2 million worth of rare stamps for a charity auction today. fun fact about stamps, by the way, as investments stamps were better than art, wine or jewelry over the past decade. >>> according to "forbes," that could mean about $1.5 million for louisville netted by ncaa champ schools between 2004 and 2011. i wish it was michigan. >>> now the answer to our pop quiz. it was walmart and sam's club founder sam walton who got his start in the jc penney management trainee program back in 1940. >>> s

part of jc penney looks good and part of it looks like the old jc penney. >> it seems to me, they haver term metrics. how patient will investors be, i think that's a function of whether they're able to achieve what they communicate as their goals along the way. and clearly to your point, becky, they didn't do that in this first period. what are the expectations they're going to give to the market. whether it's on a store year-over-year, or what they want to have the market focus on. and they have to hit those over the next quarters to have the patient investor, patient capital for four plus year period. >> is there anything you think ron johnson can do to buy time, christy? >> well, i would think the most valuable thing is what we're just talking about. what is the narrative? and what are the metrics that fit the narrative? and does the market accept that? and i'm not close enough to the store to know what those should be. but clearly 20/20, hindsight to your point, courtney, how do we recalibrate based on that? >> and jc penney has pulled a lot of their expectations, not really giving

let's see what they say about the consumers and perhaps capitalizing on the stumble that is jc penney. thursday i'm calling in huge. yooun pacific will be one of the brooits lights in the transport. got to be that they're switching to coal, and that is certain for -- we've been hearing that aing culture. autos are staying strong. 15.3 million being built. oil is being shipped increasingly by rail. it's hard to get these pipelines through. get them approved. as i mentioned with kinder. you know what, union pacific, it's time for you with the help of oil. we will have heard from intel earlier in the week about the not death of personal computers. no one believes. it's going knock down mr. softy. perhaps if the stock gets as low as 27, write that down, you buy some of the day before the company reports on thursday after the close. all the analysts who downgraded it have created a perfect opportunity. it will only work, by the way. it will work only because microsoft's yield will cushion the fall. all right. we have two high rollers that i know so many of you own or are interested about.

jc penney has been exploring ways to raise more cash after firing its ceo last month following a disastrous year that saw sales slump 25%. >>> and disney settles a dispute with amc theaters allowing fans to buy advanced tickets for "iron man 3" which comes out next week. disney has been fighting with amc and other theater chains over how to divvy up the box office take from upcoming movies. richard? back to you. >> yeah, i'm looking forward to that blockbuster. thanks. >>> earnings front, samsung weighed in with record first quarter profits, one day before the u.s. release of its latest galaxy smartphone. some williams-sonoma stores in boston have pulled pressure cookers after it was confirmed that similar pots were used to construct the deadly marathon bombs. the fda has stopped imports of cucumbers after the cdc linked them to 73 cases of salmonella in 18 states. forget politics and religion. a new study finds most people surveyed are more comfortable discussing with strangers their salary, sex life or weight than credit card debt. >>> 100 years ago this nickel was worth 5 cents. on thurs

you're talking about jc penney.are being trained. >> they're smart and savvy shoppers. >> they know. so who doesn't want a good deal. i believe the next generation will be more informed and expect the best deals. >> partners in comcast. we'll talk about that a little bit later. i need to hear. you have a little presentation for us? >> no. but mark lazarus, runs nbc sports, great guy. live ratings. >> comcast sportsnet. >> we should talk about it. >> i want to see your plan for the future. see if we have to seen off on it. it's counter intuitive. ten years ago people would have said sports would have been disaggregated. the opposite has happened. it's the only programming that brings large groups and communities together in a time specific area. >> amazing. >> seinfeld used to be 9:00 on thursdays. now you can watch apple tv. >> we'll talk more in just a moment. ted is our guest host today. when we come back, more from him. and the founder of best buy on jobs. and recent resurgence of the company's stock price. brad

jc penney had a couple of years. they are bringing back old strategies to win customers back.f you miss the old jc penney, look for signs of it, coupons and already one after the ousted c.e.o., a big 20 percent coupon on the web site, and the biggest shareholder says they will put ads in newspapers again after the previous head of the company did not take inaccount america's affection for coupons. >> thank you, jane king. >> do you think justin bieber had influence on teens? he wants to get involved in how they spend their money. he is launching a new repaid debit card aimed at biebers saying it will teach youngers how to better manage their money because he manages his money so well. consumer advocates don't like it saying the card comes with high fees and no word whether he knows how to manage money. but he sure knows how to earn it. and pends it. the 19-year-old will get a $3.7 million just to endorse the card. >> it hasn't worked out for other celebrities but we will see to we can "bleib." >> a weather forecast we can believe? >> we are going to moderate the temperatures.

his reign at jc penney's has been a disaster.t's startling is who the board picked to replace johnson, mike ullman. this is the guy they fired to make room of johnson. he is the former ceo of penney's. he is the guy they department like before they didn't like the new guy. they said he chronically mismanaged the stores. the rest of the storey is when johnson left apple, they replaced him with someone they don't like. maybe the solution here is for johnson to go back to apple. he did a good job with their stores. j.c. penney's stock has fallen by more than half. the one guy you don't want to have come in is the person you fired for incompetense >>> you don't get rid of your first guy with the second guy. johnson is a very confident manager. lots of people at apple like him. maybe the solution is him go home to apple. >>> 6:16. california's wine industry has a new threat this morning, climate change. >> researchers say it won't be long before all the water used to grow grapes in the state will dry up. "today" in t in the bay's" bob

since taking over, jc penney shares have plunged 60 percent.re also down and he acknowledged making mistakes but says jc penney is improving the customer experience at their stores. >> new this morning, an airline is defending the controversial new policy to charge passengers according to how were they weigh. they ditched the flat fee and now is charging travelers per kilogram weight. it works out to 50 cents a pound. 200-pound person pays $100. the c.e.o. of the airline claims it is the fairest way to travel and in some cases cheaper. they serve domestic routes in pacific islands. >> that is a weight loss infringement. >> nodated -- a new indictment program. >> and a busy command for president obama and a fundraiser in california. >> truck crashes into the back side of a muni bus in san francisco with impact on people in the bus and outside the bus. >> a bay area paramedic who works on a daily basis to save people's lives, this morning is fighting for his own life after being shot in the head in the oakland hills. i will have the latest on his

because i have no jc penney -- >> which is one of the reasons i like federal realty. >> in the portfolio. what -- you either own real estate or you effectively own it by having a long-term lease that gives you rights to it. supply and demand on that particular location as to whether how much term is left and everything else in terms of that value. doesn't just, you know, de facto mean you have -- >> may not have value. there seems to be a lot of 20-year leases rolling off. now, what happened 20 years ago that they're rolling off, and what is the difference between the average 1993 lease and what -- >> no difference. the average lease, okay, is about seven years or so in term. there are some fives and there are some 20s. if on those 20-year leases you look at, you know, what the market rent was in 1993 today, you know, it obviously depends on the location, but overall significantly more. >> how you can continue to have -- >> we've done that for a long time. >> the last question, how are you able to deploy $2 billion to $3 billion over time in existing assets? >> if you know anything about

johnson wasn't the only one at jc penney taking a hit.nuses and due to the company's financial results versus its goals. the ceo received 44% of its target cash, the proxy said and the other named executive officers received collectively 55% of their aggregate target cash compensation. johnson still lives in california, but jc penney is headquartered in texas and johnson showed $are 344,000 in the corporate use of the aircraft. he had no comment beyond what was in the proxy. you can see the johnson's $344,000 corporate jet usage is pretty usual for jc penney's use and it's below the amount that the ceo might owe the news as jc penney's ceo at his home in colorado. while jc penney and his sales weren't as troublesome as they've been under johnson and that's why that jet use has been a point of contention at least for some. david? >> thanks very much, courtney reagan. they are in early trading dropping offer the isn number this after the dow and s&p, she's the portfolio manager for the client private group. >> we were talking about the comi

after the break, the lone analyst on the street and we personally spoke to jc penney and it's the sirenp and we we have the analyst who has details. that's coming up next. rb heller and the s&p crossing its new introo day all-time high and the highs of the morning right now. we're back at post 9 after this. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free zones for business startups. the new new york is working creating tens of thousands of new businesses, and we're just getting started. to grow or start your business visit thenewny.com [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforwa

important point, though, for jc penney.tock ran enormously after we reported this news around 3:00 friday. there were 28 million shares that traded in the last hour. >> what happened at 2:58 to get that stock going? >> we reported this news. >> look at that we -- he's a very giving man. david broke the story which said there would be no equity. i expected that there would be's huge component of equity and instead this shows you this market wants to go higher. >> there isn't any sign that there's a turn in this business and no one cares. >> again, i come back to the idea that i've been hearing for a couple of weeks there were hedge funds that were proactively reaching out to investment banks and reaching out saying if you doing some, we want in. if we could get a 7% coupon or even a 6 3/4 and that was the range where this thing gets done. we'll take it. the search for yield, which you know is a bad sign. isn't that the essence of reaching for you. >> here you are secured by real estate analysts. >> good point. >> there is a

. >> macy's and jc penney back in court today in the battle over martha stewart home goods.pears to have failed. courtney reagan is in downtown manhattan and she's been following this thing from the opening gavel. courtney? >> reporter: that's true, david. here we are again at the new york state supreme court in the trial that pits martha stewart living between jc penney and macy's. this is a month after the parties separtjudge sent the parties into mediation. he only allotted three weeks for that trial and when that time ran out there were still arguments left to be heard. the judge is growing increasingly frustrated with all of the parties urging them multiple times to come to a settlement. you guys will be happier if you decide as business leaders how to work this out. if i make the decision inevitably someone will be unhappy. the judge did note in court thanking martha stewart for reaching out to macy's ceo. the two hadn't spoken since late 2011 to tell him about the jc penney deal and lundgren said even thinking about it made him sick to his stomach. time is growing mor

. >> plunging stock price forced jc penney to fire the c.e.o. who says the company got it wrong. louisville is celebrating the championship this morning, the unrest that followed last night's big ñ9ñíÑybit >> santa clara, san francisco, east bay, and all the bay area, this is abc7 news. >> it is 6:14. new this morning in health news, a just-released study finds people younger than 65 are twice as likely to skip medication than older americans. researchers with the centers for disease control say 13 percent of younger americans skipped taking meds as prescribed in order to save money. this compares to 6 percent of those over 65 and one in five in both age groups asked doctors for generic drugs in order to trim costs. >> jc penney is facing criticism hours after out of thing the c.e.o. in a boardroom shakeup. the struggling retailer fired ron johnson, a former executive from apple. this is video of johnson ringing the opening bell last april at the new york stock exchange. he was fired after the shares lost half the valley during his time at c.e.o. the man now said to replace johns

. >> if you have to look for a turn around check out jc penney. >> interesting and good call. >> youre hot and stay hot? >> biggest sports team in the world not the yankeeses or cubs or 49erings. manchester united won the victory in europe. it is publicly traded and brands are doing well. this is it a stock. >> oh, boy. i go for real football and not the fake. thank you gang. before we go. cashin in wants to say congratulation tots 43rd president on the opening of the presidential library. it is good to see heart warming moments before 41 and 43. weigh in on all of the topicings on twitter. have a great weekend, everybody. hello, everybody. i am uma, live in washington. an arrest in this week's ricin letter scare. a mississippi martial arts instructor is in custody accused of sending the ricin-laced letters to president obama and footworks. efvet dutschke wased this morning. >> uma, 41 year old everett dutschke was arrested on unspecified chargings. he was taken without incident in tupelo,

jc penney hired blackstone group. under the new ceo hike olman. >> tom donahue on squawk earlier this week addressed the urgent need for entitlement reform. >> we have to bend down the cost curve. if we don't do it in a dozen years it will need all our national revenue. the organizations in this town that are driving people to pretend this won't happen have to get out under their silver lining cloud and face up to the fact that we can fix this problem or we can leave it alone and let it destroy us. >> are you talking aarp? >> yes. >> president of aarp. good to see you. >> good to see you, joe. >> is there a way to do this? what's your suggestion if we don't change any type of age where you get retirement or if we don't do any means testing? just tax people enough to where we can afford the benefits as they are? >> well, i think the first thing we have to recognize is social security in and of itself shouldn't be part of the deficit discussion. it's a separate program. self finance. we have been advocating having to ta

. >> if you have to look for a turn around check out jc penney. >> interesting and good call. >> youre hot and stay hot? >> biggest sports team in the world not the yankeeses or cubs or 49erings. manchester united won the victory in europe. it is publicly traded and brands are doing well. this is it a stock. >> oh, boy. i go for real football and not the fake. thank you gang. before we go. cashin in wants to say congratulation tots3rd president on the opening of the presidential library. it is good to see heart warming moments before 41 and 43. weigh in on all of the topicings on twitter. have a >>. >> tom: should a terrorist be protected by our constitution especially if the visit an american citizen? where did that 48-hour window come from that allowed officials to question them before reading them their miranda warnings. we're talking about a citizn terrorist. right here and right now. >> tom: thanks for joining us. here athe top of the stack, being a citizen offers us all kinds of constitutional protections, it's just one of the things that makes our citizenship so valuable in th

. >> good morning, topping america's money, jc penney fires the c.e.o. and got the old boss back. he was known for creating the apple retail stores and is replaced by the former chief. a new lone is offered to pay for a vehicle to boost new car sales, with total interest paid far more, however, than the traditional five year lone. finally, the most valuable company in the world, war mall, is -- wal-mart is five, google is number three, and apple is number two, and number one is exxonmobil at the >> daly city, dublin, los gatos, and all bay area, this is abc7 news. >> good morning, at 5:11 on tuesday morning. the winds of change are not blowing. calmer start this morning. we will check with mike nicco to find out about the warming trend coming up and leyla gulen will check the bay area traffic. >> san francisco may become the first city in the nation to limit the number of tobacco retailers coming from a youth group that spent years working on the idea. there are 1,000 stores selling tobacco products in the city limits. the san francisco youth leadership institute calls for control

jc penney is dumping its ceo after a year and a half on the job. with consistently lower prices did not work big time. is this a sign of the times what is going on? melissa francis joins us host of money with melissa francis on the fox business network. good to see you. i always thought it was kind of a mismatch because johnson came from apple and i thought, wow, that is very high high-end specialty stuff, now he's at jc penney which is not but there is more to it. >> there is more to the story. he was at target before that. he made cheap she ca chic over at tar go. target is fabulous, fun but not that cheap. he went to apple made their stores fabulous. they brought pheupl in thinking he would bring style and cache. now they are wondering if that's what they needed. he made $16.6 million in that short period of time. gregg: not bad. >> and today as we speak jc penney stock getting absoluteee hammered in a free fall again today down another 11% as investors wonder, you know, they threw him out, maybe they show the board out, the company is in chaos.

it's a big day for jc penney.are launching the first of their home goods boutiques including martha stewart products. it's pivotal to turn around efforts. >>> what do you get when you pump $1.5 trillion into the world's economy? the nikkei went above 13,000. the index is up. back home, mark zuckerberg unveiled the latest offering, facebook home, a collection of apps to replace your android home screen. the chairman of the board at hughlet packard are stepping down. >>> the ceo of enron may get out of jail early. he has six of a 24 year sentence for con spearty, fraud and insider training. >>> artificial technology is available to colleges nationwide that let's a computer do the grading for essays and short answers. >>> how about this junk food from pizza hut. it looks good there. if that is not your thing, folks in massachusetts can wrap their hands around dunkin' doughnuts glazed doughnut. yeah. the pork shop may soon be a thing of the past. say what? consumer research found labels on packages to be confusing. th

. >> if you have to look for a turn around check out jc penney. >> interesting and good call. >> youtay hot? >> biggest sports team in the world not the yankeeses or cubs or 49erings. manchester united won the victory in europe. it is publicly traded and brands are doing well. this is it a stock. >> oh, boy. i go for real football and not the fake. thank you gang. before we go. cashin in wants to say congratulation tots 43rd president on the opening of the presidential library. it is good to see heart warming moments before 41 and 43. weigh in on all of the topicings on twitter. have a [♪...] >> announcer: the following program is brought to you by nopalea, the anti-inflammatory wellness drink by trivita. stay tuned to learn how you can receive a 32-ounce bottle of nopalea free >> a few months ago, i had a hard time walking this hill. but today, i'm doing it pain-free. do i have a secret? yobet. and that's why'm here today to share that secret with you. >> announcer: could a natural wellness drink really help people with painful symptoms like chronic neck and back pain, swollen joint

. >>> it's a big day for jc penney because the struggling department store launching the first of its new home goods boutiques including some martha stewart brand products which the ceo says is pivotal to his turnaround efforts. richard, back to you. >> cnbc's brian shactman, thank you. >>> what do you get when you pump nearly $1.5 trillion into the world's third largest economy? a major rally. the bank of japan's aggressive stimulus pushed the nikkei about 13,000 above that number for the first time in more than four years today. the index is up nearly 7% this week, 22% for the year and a whopping 48% since november. >>> back in the states mark zuckerberg unveiled his latest offering, facebook home, a collection of apps to replace your android home screen. >>> more drama at embattled hewlett-packard. its chairman and two other directors are stepping down. >>> jeffrey skilling, former ceo of enron may be getting out of jail early if his lawyers strike a deal with the justice department. skilling has served 6 of a 24-year sentence for conspiracy, fraud and insider trading. >>> bank of

already this year, apple, jc penney and herbalife have gained the attention of activists. ralph lauren clothing company will pay $1.6 million to settle a bribery scandal. one of its subsidiaries is accused of bribing officials in argentina. according to the the u.s. department of justice, arginentinian customs officials allegedly were given money to clear merchandise. rl stock fell $3 in trading monday. a report out of europe shows the region is making a dent on its debt. the eurozone's collective deficit decreased in 2012. its most financially strapped countries, including ireland, greece and italy, have trimmed or stabilized deficits, while more secure nations like germany have pulled back on spending. meanwhile, greece, ireland, italy and portugal each still have debt that is higher than a year of the country's economic output. general motors drives up sales in china. the car company sold one million cars in china faster than it ever has before. last year, it took until may 7th before gm sold its one millionth vehicle. the news comes during the shanghai auto show. there

sources say jc penney ceo ron johnson is out! jcp shares jumped 11% in after hours trading after cnbc reported that johnson will leave the company. interim ceo mike ullman will takeover the role. taking flight. united airlines will fly boeing's 787 dreamliner in a trip from denver to houston on may 31st. it is the first airline that will do so since the faa grounded the aircraft back in january. confirmed! the senate has confirmed former wall street prosecutor mary jo white to head the securities and exchange commission. let's jump on in and take a look at the markets with doug rothschild of performance trust investment. doug, you follow the bond market...it was a miserable jobs report friday---what kind of bond action did you see after the report? > >you did see a bad jobs report come out on friday and the market reacted, certainly the bonds. and you've seen yields at their lowest point that we've seen in sevearl months and a pretty big---about 30 point move in the bond market in the last couple weeks. what's really driving that

jc penney ceo received no bonus and was paid a mere t million.s down from his 53.3 million bucks he earned the year before. not bad. bill nar investor carl icahn has nuance calling. straight ahead, atlanta teachers are cheating. they were cheating their students in favor of fat payday bonuses. now they are surrendering to police. the owner of dallas mavericks, mark cuban is thinking of choosing this player there for the nba draft. those details are next. my mother made the best toffee in the world. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. i never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. and you'll dump your old mop. but don't worry, he'll find someone else. ♪ who's that lady? ♪ who's that lady? ♪ sex

macy's and jc penney's head back to court in the dispute over which retailer has the right to sell marthatewart brand of products. a judge put the trial on hold ordering the companies into mediation. it appears there has been little progress in the talk. a decision in favor of macy's could be a major setback for jcpenney's. >>> we want to talk to christina about the winds. >> something we want to make sure everybody is aware of before they hit that highway. a lot of kids going back to school before spring break. you might be a parent getting ready to take your little one to school. these are your sustained wind speeds. these are not your gusts. we are gusting 40, 50 miles per hour. it is one of those windy days that we don't traditionally see in the san jose area. it has been pretty gusty all night long, fierce winds taking out trees and branches. travel cautiously and get ready to navigate. 21 miles per hour sustained in san jose, 24, sunnyville. look at san francisco. sustained at 30 miles per hour. that is a strong enough sustained speed to force that away. back to business monday. we

one day after macy's requested an appeal, a court has temporarily blocked jc penney from selling certain martha stewart products. macy's is appealing a lower court ruling from last week allowing its rival home goods that don't carry the stewart name. >>> and toyota says it's now sold more than 5 million hybrids worldwide. the automaker began selling the popular prius in 1997. hybrids now account for 14% of its total sales. back to you. >> wow, 5 million. mary, thank you so much. >>> now as mary was pointing out, if you have money in the stock market, tuesday's bounce was welcomed, but it was a bad day for american airlines. the ceo apologizing for a computer glitch that grounded all of its flights on tuesday. today could also see some cancellations or delays in the aftereffects. >>> sadly as the country recovers from the attack in boston, business is booming for security companies. in fact, a new york-based company that provides bomb-sniffing dogs says business has already doubled. meanwhile, some folks are selling their 2013 boston marathon medals on ebay with buy-it-now prices up to $4

three more high level executives are "out the door" at jc penney. reuters reports similar to ron johnson who exited jcp this week, the latest three execs to leave also previously worked at apple. jcp penney shares tumbled earlier this week.. but have been a on the rebound since johnson's departure. casino developers are taking a gamble on regional locations. gambling destinations located "outside" of major cities are becoming popular.real estate titan david cordish, of cordish companies just opened "maryland live", a luxury casino half way between baltimore and dc.he says local casinos are gaining popularity, as las vegas and atlantic city are losing luster. "i think what you have to look at when you're doing a financial analysis is breakdown the united states casinos by destination resorts which is atlantic city las vegas and mississippi. there they have casino after casino just next to each other - and people have to get on an airplane, they have to stay in a hotel, and those destinations like atlantic city are hurting badly." in march, revenue at

people working for jc penney are relieved to learn the retailer's latest turnaround plan does not include eliminating employees or closing stores. penney's cfo revealed monday the company is tapping into its $1.85-billion credit line to buy inventory. the retailer will take out $850 million to revamp its home goods section, which should be ready next month. nursing homes are heading toward a critical need of employees. as baby boomers move into their golden years, the wall street journal reports the elder-care workforce will need 50% more workers. the profession, however, is considered to be low-paying at $12 an hour. the job also comes with a high injury rate and is physically draining. those considerations are said to be making it tough for nursing home operators to hire. dish network offers $25.5 billion for wireless carrier sprint. the cash and stock offer beats an offer from japan's softbank corp according to dish. the deal is seen as a sign of the dwindling power in the marketplace of satellite dishes, which aren't as relevant in an age of cellphones. sprint nextel's stock jumped on

there will be no golden parachute to rescue former jc penney ceo ron johnson. johnson, who came from apple, was dismissed this week from jcp due to poor performance. johnson had a deal with penney to be paid mostly in stock when he became ceo in 2011. he owns 900,000 shares of penney stock.. but it only has value if penney stock climbs above $29 dollars. the stock closed last at $14. hedge fund manager bill ackman who has a major stake in jcp gave the stock a bit of a lift yesterday when he told reporters he's standing by the retailer. investors rolled out the welcome mat for taylor morrison this week. shares of the homebuilder opened up 6.1% yesterday, from its ipo price of 22 dollars and closed at $23.04. the return of the housing market has sparked an interest in home building stocks. also new to the market this week, shuttle tank operator knot offshore partners. that stock rallied nearly 4% on its opening day. chimerix, kye-mare-ix ipo-s today. the company is developing a drug for use in stem cell transplants. also expected pharmaceutical company omthera. p

. >> drop for jc penney. >> it was like a goat or something. down 4%, guy?this morning, i was at pilates, my instructor -- >> pilates, she kicked your, you know what. >> she kicked my rear end. >> speaking of mail, pilates. put that and pilates in the same sentence. >> go on, continue. continue. >> right? >> i don't know there's no reason i could ascertain the movement lower. i think the company's broken, i don't think the stock is. i think you buy jc penney on this dip. >> pop here for tornado week in an effort to whip up enthusiasm for the week of twister themed television, the weather channel subjecting the interns to tropical force gusts and putting the whole thing live online. the network promises to boost a wind for every mention on twitter, eventually getti intin tornado spins. taking twitter by storm. >> fantastic. >> that's amazing. >> poor interns. >> i don't think that's real. >> question the integrity. >> they don't look like they're blown around enough. >> well, you've got to mention them. >> you've got to mention them. >> i'm going to tweet tha

jc penney is in a dollar daze. shares shot up more than 11% friday, first on word billionaire george soros has a major stake in the company, then cnbc reported goldman sachs set up a $1.75-billion loan committment. the retailer is suddenly back in vogue. also, governor chris christie says he will make a major announcement today. it marks 6 months since hurricane sandy hit new jersey and the northeast section of the country. well, if there is one thing you can say about this market, it really is holding up quite well. phillip streible of rjo futures joins us now on this monday morning, and phillip, despite the gdp number that came out on friday, not so bad here. - i know. traders were really surprised, too. we came out at 2.5%, we were expecting 3%. i would have thought the stock market would have sold off a lot harder than it did. it held in quite nicely. it seems that the fed, with their $85 billion that they just keep pumping into the market month after month has really put a good base into the market. - is the m

ruling was a retrieve for jc penney back to you. >> if you have a hard time hearing after a loud concertmay be your body's coping system. cells in the innerary cause short-term hearing loss. it can last hours or days before it returns. >> actress valerie harper will be here for a discussion of her new book. she is known for her role in the series. this event is free and open to the public. her inspiring story has been a source of strength. >> i have to say, when the announcement came out and you remembered watching her, you hope the best for her as she continues to keep up a strong appearance. >> what we are learning this morning about the investigation and some of the victims plus the impact you could feel at home. >> news4 today at 6:00 is next. >>> searching for those responsible for this. new development at this hour as police piece together clues at the mayor thon. >> the impact the

jc penney ceo ron johnson's pay package was severed by 96%, going from $50 million to $1.9 million, after the retailer faced continuing problems. and former wellpoint ceo angela braly received $20 million in compensation, despite resigning under pressure in august. a former goldman sachs trader faces up to 20 years in prison after pleading guilty to wire fraud. matthew taylor surrendered to the fbi wednesday. the cftc accused him in november 2012 of hiding an $8-billion position on a futures contract that cost goldman more than $118 million. his bond is set for $750,000. defense stocks are rallying in the face of sequestration. since march 1st, boeing's stock is up 9.6%. lockheed martin has gained 8.3%. northrop grumman and raytheon are both up 6%. analysts sense it's a relief rally considering defense stocks took a hit on sequestion deadline fears. thehill.com reports the real threat is in september, when budget cuts take effect. generic versions of blockbuster perscription drugs may be overpriced at some pharmacies. consumer reports sent secret shoppers into 200 pharamcies. they checked

macy's only down 58 cents and jc penney, by the way, it was a good day for jc penney and they got the. >> so i'll see you there. you're going to raise me? anything. >> are you not shopping this weekend? no. >> are you really? you're going all of the way down there? >> i'm giving the keynote to the business editors and writers? oh, very nice. >> that tyson's corner has a lot of shopping. >> that's where they have the jc penney wi-fi. >> there are not many stocks in the green on the s&p. >> i don't have any. >> devry, is this a day where you short the manpower and adps? they've been so hot. i'm not sure when it will go after manpower united states because that's the temporary employment way around the health care act. adp may be -- adp is a well-run company, and paychex was saying they need yield, so i don't know. let them come in and then take a look at the yields will tell the tale. >> last night your point on "mad money," we need to, in shakespearean terms, need to get rid of the xhifs. >> it doesn't need to be rest t restart restarted. talk about the issue that we're not talking abo

. >> when we come back, jc penney finally trapping that revolver.how bad is the retailer's crash crunch. plus what a year it's been so far from netflix and it seems to permeate everything we do. btig's rich greenfield has been crunching numbers and he's been all over the story. take one more look at futures. a negative open here, but as jim said a lot of it resulting from what gold has done today. a lot more "squawk on the street" in a moment. just set your start and end price. and let it do its thing. wow, more fan mail. hey ray, my uncle wanted to say thanks for idea hub. o well tell him i said you're welcome. he loves how he can click on it and get specific actionable trade ideas with their probabilities throughout the day. yea, and these ideas are across the board -- bullish, bearish and neutral. i think you need a bigger desk, pal. another one? traders love our trading patterns, now with options patterns. what's not to love? they see what others are trading -- like the day's top 10 options trades by volume -- and get ideas! yea i have an idea:

. >> now to a big pay cut for jc penney's embattled ron johnson. the man at the top is paying for it. this is quite a slash in pay. >> this is the way that a lot of people think that it should work. directly tied to the company's success as the market defines it, the ceo should prosper or flounder right along with the shareholders. 2012 was a rough year for jcp. he received no stock awards like he did in 2011. 2011 compensation totalled 53.3 million. done partially to compensate him for the $50 million of apple stock that he would have vested. >> very interesting. going get $52 million in stock from jcp. restricted shares. i wonder if that stock is worth anywhere near 52 million? >> almost nothing near. he can't exercise at a strike price of 30 for like 14 and change. that's pretty much worth nothing now, too. >> sue? >> we're going to talk carnival. the shares are not sinking. this comes after the engine room fire. and it's only been a little over a year since the ship capsized and claimed 32 lives. since the concordia disaster, the stock is up ab

. >> days after jc penney fired a c.e.o. over plungeing stock price retailers weighing in. they fired former apple executive after less than two years on the job. johnson got rid of sales and promotions and now analysts say though need to drive new traffic into the stores. analysts say the retailer should focus on the strong customer base in the hispanic community and among baby boomers. >> northern california who want former secretary of state hillary clinton to run forment -- for president are not waiting around. many of her california supporters are mobilizing and raising money to entice her to run in 2016. among her backers is former east bacon man and house minority leader nancy pelosi want clinton to run and is said so on the record. >> the first lady is headd to her hometown of chicago today to discuss the city's prolonged wave of violence among young people. mrs. obama will address a lunch meeting hosted by the mayor rahm emanuel before headed to harper high school where she will hear from students who have personally been impacted by violence. she also is expected