. >> i want to talk about areas where you're about to pull the trigger, or going to, jcpenny,?m waiting to pull the trigger. we haven't. why is that? first off, if this company is not one foot in the grave which is what the stock market is stemming us, it's a great american brand, if it's not, it will be back in the 20s in the next year app at 12.5, why not buy that all day long? once the grenade is thrown in the room, that's cit and whether or not they have been cutting financing, once that's thrown, i need to see at least one or two more earnings reports and get the feeling that cit is not doing anything negative with the company. i'll pay up to $14 for the clarity. >> why do you think it's 20? why do you think it will be 20? >> there's land underneath the stores here. there is asset value here. >> some of the parts valuation. >> if it comes back, which is dependent on having the financing and doing away with the ron johnson story, there will be earnings here. but right now it's a roll of the dice. i don't like to roll the dice. i like to invest. i need more clarity. i'll pay

shares of jcpenny getting hit after hours. dumping the shares in jc penney.man has been the largest shareholder. he resigned from the board earlier this month after a very public battle with other board members and you can see the stock getting hit. internal pictures of the raging wildfire in california, probably have not heard what is being done behind the scenes to keep the area out of the dark. reports that san francisco so far have lost $600,000 worth of power off the open market to ensure the electricity stays on. that is after having to cut more than 12 miles of power lines because of the fire. they are very worried about the water supply being contaminated. all that on top of the fact the sequoias that bring in millions of tourism renue are at risk of serious damage. here to give us a first-hand account of on the ground, scott. thank you so much for joining our show, we appreciate your time. wwe're talking about the fact they are potentially losing power and buying power the open market because the publ utilities commission has shut down a couple hydro

. >> absolutely, david and liz this has to do with speck lanes that jcpenny's chief financial fer, ken hannah was stepping down. it was rumored. although we don't typically comment on rumor or speculation they say it is appropriate to respond in this case. he is not stepping down. he is part of the jcpenney go forward leadership team. the company says that there is absolutely false. as you mentioned, david, the stock taking a hammering hitting a 2007 1/2-year low although coming back a little bit. it has been a tough day for penney's. ken hannah, they say, not going anywhere. so they put out this statement. david: once again, 12.65. you see 13.27. not moving much after-hours. people believe what the company is putting out. 12.56 was the all-time low and it hit that today. let's get action on a whole lot of other stocks. larry shover. we usually see larry at cme. he is in new york today. he sees the market moving higher and he has three ways to make you money. also joining us from the pits of the cme, is michael gerka, spectrum asset management. michael, let's first talk about the fed.

tracy: we are digging deeper into that jcpenny story.more on that, coming up oppenheimer analyst brian nagel says there is a big question remaining after the ackman board drama and he sis ahead. ashley: small businesses are struggling with obamacare, taxes and more. nfib chief economist bill dunkelberg is telling us how it is holding back job creation. first, look how the u.s. dollar is moving on this tuesday. guess what? another day of a strong dollar. all the currencieses are moving lower against the green back. we'll be right back. my mantra? always go the extra mile. to treat my low testosrone, i did my research. my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as uneected signs of puberty in children or changes in body hair or increasedc

jcpenney we're following closely, "wall street journal" is continuing to follow this story that jcpennyg for new executive. former ceo, allen questrum may return to the chairman role. ackman is vocal about finding one sooner than later. this come as the performance of jcpenney's turn around halls been weak. back to you. ashley: nicole, thank you very much. tracy: crude prices falling for a fifth straight day on concerns of increasing supplies in china. fox business contributor phil flynn of price futures group in the trading pits of the cme. what is going on with all this? >> normally when we talk about china importing near record amounts of oil that is usually bullish for oil but it isn't. mainly because here in the u.s. we're producing more oil at home than we're importing right now. that is creating a very bearish effect on the market and rolling into rbob gas prices. gasoline supplies in the u.s. are at the highest level this time of year than in 24 years. add to the fact they lifted some requirements and or pushed them back. that is driving down the ren market. making more availabl

. >> so perry is against jcpenny, and i was against him, and now he is long on herbalife., and if he likes herbalife, everybody should look at it. >> are the positions that you take about the company, are they outweighing what people think about the company? >> you mean, do they make widgets? yes. they make supplements and a suicide over the weekend that involved a herbalife distributor that people were talking about, but all i know is that it is a battle of the titans and you are right. maybe it should be about the product, but the product is irrelevant right now. they could be talking about anything. >> yes, yes. when we come back, there is a lot more "squawk on the street" straight ahead. >>> coming up, take a look at h this. those dolphins know what is happening next, and they are rushing to make sure they don't miss it. "six stocks in 60 seconds" when "squawk on the street" returns. i turn ed 65 last week. i turn the math of retirement is different today. money has to last longer. i don't want to pour over pie charts all day. i want to travel, and i want the income to

this point is that throughout the time line, there is no recognition that 116,000 people work in jcpenny's, and the sales have dropped, because of no stability on the top. i have been on the fractured boards and been on a fractured board and i can tell you what happens the product and the company suffers. it is time for this change to be made. david, does it make it easier ultimately after he does not have insider information to blow out of the position? >> yes. it makes it easier, and one has no idea if he will, and the position is not a positive one for him at this point, but perhaps he will choose to quiet down and not say much, and let the board do its work and for its part, the advisers to the board are saying, listen, right now the board is focused on stabilizing the company, and the next reported quarter that you get, that is the last johnson quarter and the last one they will say, okay, that is the old regime and you have back to school coming or the midst of it and the current quarter is the first one where they will lay the groundwork for saying we are making progress and getting

the stocks that are leading the s&p on the downside today and a lot of the consumer names, sears, jcpenny'sesting, when you look at the 10-year and trying to figure yuure out why sit do and see if it is what edwards say in the conference this afternoon. >> well, we are in a summer lull, and the volumes yesterday were the lowest since the 12th of november last year. >> that is misleading, and that is part of the discussion that we are having which is more, and more important which is that it does not capture all of the etf market. >> well, it is in the middle of the summer and these are not conviction moves as it is in other times of the year, and i know it is counter to the cable training. >> well, it is contrary to the cable trading. >> yes, on all fronts. >> exactly. >> and he has been called the godfather of the hashtag and we will talk to the inventor of the famous social networking tool coming up. [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily