jeffries: mr. speaker, it's an honor and privilege to once again have this opportunity to anchor the c.b.c. special order along with my very disting westerned colleague, my good friend from the silver state, epresentative steven horsford, where for the next 60 minutes, during this hour of power, members of the congressional black caucus will have an opportunity to speak directly to the american people about the sues facing higher education here in america. we are at a crisis moment. as it relates to our capacity to make sure that we can provide an affordable college education to as many americans as possible. the problem that we in this country confront is two-fold. first, the cost of a college education keeps going up but the amount of financial aid available to younger americans keeps coming down. as a result, higher education is increasingly out of reach, particularly for low-income americans or working families or the sons and daughters of the middle class. and a college education is a pathway

jeffries: thank you very much. we have been joined by another dynamic member of the freshman class who arrived a couple of months earlier than the rest of us. he's gotten off to a tremendous start. i yield to my distinguished garden state, the the always nattily dressed, donald payne jr. mr. payne: i want to thank my colleague for anchoring tonight's c.b.c. special order on student loans and thank congressman jeffries for that ind observation. access to quality education is the basis of the american dream. in 1965, the higher education act was passed by congress and signed into law by the -- by president lyndon baines johnson, a former rural school house teacher who fully understood that education is the greatest equalizer. since then, student aid in this country that be the spring board that gives hardworking students with low to moderate income the opportunity realize their goals and transcend economic status. the federal pell grant program helps more than nine million students get to and through college. unfortu

jeffries, who will provide a bit of an ending. mr. jeffries: thank you for co-anchoring this special order and to dr. christensen and thankful for all you have done for co-chairing. the affordable care act is the law of the lapped and the president has been elected and re-elected. let's move forward and address the health care disparities that have been set forth so eloquently here today, come together and deal with the ailments that are facing the american people. and i yield back. the speaker pro tempore: the gentleman's time has expired. members are reminded not to refer to persons on the floor as guests of the house. under the speaker's announced policy of january 3, 2013, the gentleman from texas, mr. gohmert, is recognized for 60 minutes. mr. gohmert: it's always an honor to come to the floor of the house of representatives. and especially when there's so much of great importance occurring in our nation at this time. we do need health care reform and i appreciate my friends across the aisle talking about the importance of good h

the ceo, mike jeffries, told an interviewer that his company's brand is "aspirational" and therefore isn't interested in selling clothes larger than size 10. that quote ignited a backlash. now, jeffries says he will meet with activist benjamin o'keefe, who wants the retailer to stop discriminating. microsoft is hoping its new x- box has enough of an x factor with gamers. the brand-new game console, microsoft's first in 8 years, hit the market this week. gamer stocks have slid considerably given the market filled with tablets and smartphones. however, microsoft is partnering with the nfl and steven speilberg to help develop cutting-edge content. the console, dubbed xbox-one, will be available by christmas. the computer that beat out a human on jeopardy has a new job! ibm is putting "watson's" technology to work in customer service as an engagement advisor. it's expected the "brainy" computer will be able to assist with customer service calls in the reatil, banking, and insurance industries. still to come, growth prospects for the restaurant biz - new steps toward sustainability. that'

we'll be right back with congressman hakim jeffries who went through that sandy funding battle after this. if you're not whitening, you're yellowing. crest whitestrips whiten as well as $500 professional treatments. guaranteed. crest 3d white whitestrips. peoi go to angie's listt for to gauge whether or not the projects will be done in a timely fashion and within budget. angie's list members can tell you which provider is the best in town. you'll find reviews on everything from home repair to healthcare. now that we're expecting, i like the fact that i can go onto angie's list and look for pediatricians. the service providers that i've found on angie's list actually have blown me away. join today and find out why over 1 million members count on angie's list. angie's list -- reviews you can trust. >>> you may not think a lot about disaster funding but as we live through the disaster age with more and more disasters to come, it will be more a part of our life. after this when we come back, congressman hakeem jeffries who just went through a battle over disaster funding. just after this

i want to bring in hakeem jeffries.sman, i want to play for you this bit of sound from senator coburn or read this to you. senator coburn saying it's insensitive to talk about offsets. it's insensitive to talk about it now showing crassness of washington versus sensitivity we need to have. what's your sense about whether offsets will be demanded on this and whether they should be? >> it's my hope that offsets won't be demanded. we went through this as it relates to superstorm sandy and it was highly problematic. the federal congressional response to disasters have got to be three things. they have to be swift. they have to be compassionate. and they've got to be thorough. as it relates to superstorm sandy the federal government was a day late and a dollar short. that was unfortunate. it set us back because of the offset discussion we weren't able to move forward on an expedited basis. we are hopeful on the democratic side of the aisle to make sure as it relates to this disaster we can get the relief necessary to the peo

one retail expert points out the ceo mike jeffries knows who he wants buying his clothing. >> very, very successful and he doesn't want anyone in the store, that doesn't fit that cool, young, sexy definition. >> in 2006 jeffries told "salon" quote we go after the attractive all-american kid. a lot of people don't belong in our clothes and they can't belong. are we exclusionary? absolutely. >> consumer reports praises tesla and linkedn celebrating 10 years. >> yes. good afternoon. i am at linkedn in mountain view. the world's largest professional network began 10 years ago in reed hoffman's living room with 25 million users it continues to evolve and helps users stay on top of news, president obama in texas urging lawmakers to approve more medical spending on technology-based education. he made the push from austin. the president says to serve as an example to the country. consumer reports awarded tesla, model s with highest rating receiving a score of 99 out of 100. and news comes after tesla reported a first quarterly profit thanks to better than estimated sales of the car. tesla is now

brian pitts of jeffries upgrading facebook in today's session. dr.if you put up a chart of facebook versus the qs in the past two weeks, past two months, facebook has been the clear laggard. would you be willing to say i'm going to buy this thing thinking it's going to revert? >> i believe that some smart people have probably already done that. i have not. i think there's been a stealth or maybe even not so stealth selling that's been going on here. i don't know who's been unwinding positions, but they've been sizable because you take a look at the volume traded to the down sood, this one's continued to fall. got all the way down to roughly 23 bucks a share from close to 30. that was some extreme pressure. and i just haven't seen enough reason to get in other than the nice upgrade that we just talked about. >> you agree with that? because his case was pretty compelling in terms of user engagement, next billion-dollar business in the pipeline. >> right. but i mean, they flopped on a lot of other things, too, right? their home page, i don't even know a

jeffries. my daughter is in great shape and very attractives and fits the customer of ambercrombie, she was so insulted by the comments. why? the eths on of the customer. they don't think it is cool to pick on larger sizes. >> that is a fair point. but this is a company that is pushing the boundaries with the clothing and remember the catalogs that are border line pornographic. >> they are edgy. and there is no question. >> they are look for example that edge to cope them up in sales. >> morgan, timing iseverything. and in the '90s over size was in. and everybody wanted extra large and are they squeezing them in a fashion corner thathey may wanto get out of? >> i think they are. it goes back to the point i made. two-thirds of the americans are obese. over weight. >> not that bad. >> and the point is, you are talking about a huge portion of the population. and a huge buying demographic. >> hi priced jewelers cut out a large percentage. it is what you charge. >> and we have a big market to accomm

mike jeffries.hey resurfaced from a 2006 interview in which jeffreys justified not selling clothing larger than size 10 for women because they want the brand to be worn by cool, good looking people. jeffries says he's story but not changing anything. he said abercrombie and fitch targets its marketing at a particular segment of customers but the company cares about the community in which it operates and is strongly committed to diversity and inclusion. the company met with protesters and has now released a new statement. it says, quote, we look forward to continuing this dialogue and taking concrete steps to demonstrate our commitment to antibullying in addition to our ongoing support of diversity and inclusion. we sincerely regret and apologize for any offense. the apology definitely kicking up a little bit in terms of the language there. but it seems abercrombie and fitch cannot catch a break. a new problem has cropped up for the company. a federal judge in denver is considering an injunction afte

he is sticking it to jeffries and abercrombie but handing out clothes to l.a.'enting it all. he joins me now. thanks for coming on the show, greg. i was watching on youtube. your video is absolutely exploding. in 45 minutes it picked up another million views. ceo says if every school there are cool and popular kids and not so cool kids. we go after the cool kids. attractive all-american kid with great attitude and a lot of friends. a lot of people don't belong in our clothes. and they can't belong. i see this as a hardcore branding strategy but not a really popular thing to say out loud. why did this make you so mad and what did you do as a result? >> well it made me so mad because it is exactly what you said. it is an effective branding strategy and a bad thing to say out loud. and it just drove me crazy that they had been so successful for so long with a campaign that was essentially about making teenagers and high school kids feel bad about themselves. melissa: yeah. you went and you bought clothes, as i understand from thrift stores. >> yes. melissa: you wan

continues to ensure the safety and well willing of all students, we demand the immediate removal of jeffr jeffry mathis. >> are you saying you want him fired for what happened? sq squl. >> yeah, i do. >> sounds like you expected the university to take some sort of action. >> we expected the university to take it seriously and at least investigate it long enough to notice that there's something that should be investigated. >> i want to be assured by my university that if i get caught in a situation like this, that discipline action will be taken care of and i will be taken care of personally. >> the group also said their purpose of speaking out is to let the student know she had their support. san jose state has elected not to provide any information. >> tony, thank you. we will, of course, continue to follow that story. if you have a tip for tony or anyone else in our investigative unit, we urge you to give us a call at 888-996-tips. >> let's turn things over to jeff. jeff, we can put away the jackets and start bricking out the short sns. >> yes. i know a lot of you today enjoyed that decent war

a video ad being cited as the next billion-dollar business by jeffries.e was the other big call of the day. goldman sachs upgrading first solar shares to buy. analysts see high-quality opportunity in first solar as near-terms earnings visibility and industry-leading backlog sets up well. shares topping the s&p 500 in today's trade. halliburton and baker hughes lower in today's trade. both of which gone downgraded at morgan stanley. concern around spending growth. and from the health care space, aetna moving higher, hitting an all-time high, actually. a white house memo today doesn't name names, however, it does give some color to competition and choices in the new health insurance market place. sticking with health care, the annual meeting of the american society of clinical oncology, better known as asco kicks off tomorrow in chicago. j&j, bristol-myers, merck, amgen gilead some of those to watch. and krispy kreme beat the street and raised its full-year guidance. the stock moving higher in after-hours, up about 10%. and lion's gate, the entertainment co

shawn darby of jeffries company. >>> here's something you might not expect to hear something out of washington. the budget deficit will be smaller, a lot smaller. they predict the federal budget deficit will be $642 billion. that's down more than $200 billion from the estimate in february. so why the change? well, spending cuts are one thing. higher tax revenues in part from a healthier economy are another. more companies are paying back uncle sam for their bailout loans. >> it's not just the government getting into better financial shape but so are the rest of us. new statistics from the federal reserve show that americans are doing a lot less borrowing these days. ha ha hamt p ton pearson has more on what that means. >> reporter: households lightened their deficits by $110 billion. debt payments increased and delinquency rates fell across the board on everything from home mortgages, home equity loans and credit cards. people like bradford elder who has been on a self-prescribed diet. >> as the economy improves people are much more cognizant of the amount of debt they're taking on. what kind

mike jeffries, implying they cater to the thin and beautiful. the photos were taken on saturday when on her blog on sunday and by monday she was a associate media sensation with what she called "attractive and fat." i caught up with her in the skype interview. >> if you look at media you would see more fat women with not fat women, for example, maybe even a family guy, you would see that more often than you would ever see a fat woman with a conventionally attractive man. >> i want dead show that and see what would happen and it certainly sparked some conversation. >> she is getting 120,000 hit as day and if you google abercromie & fitch advertising her images pop up among the usual suspects. >> she has not heard directly from abercromie & fitch and the company did not spend to our request to an interview. shoppers in san francisco were aware of the photos. you would like to see these in ads? >> yes. we are not all thin. >> attractive and fat, absolute ly. >> that is the news from san francisco. >> woman facing deportation has been allowed to sta

here's abc's jeffry kaufman in london. >> reporter: it's posh and becks, the sizzling duo, does celebrity get any sexier or successful than this? he david beckham, the world's most famous soccer player, she victoria, former spice girl. >> his hair, suit, his wife. >> reporter: theirs are the faces and bodies that have sold billions and made them millions. but look at her face. there's a reason they call her pouty posh. she never smiles. there they were at the royal wedding in 2011. poker faced posh looking like she was heading to the dentist. today as her husband played his last soccer game and heads into retirement she finally did it tweeting this picture. is there a hint of a smile there? that look, we've seen it before, oh, yes, on the mona lisa. could that smile mean that she's happy that her husband will finally be home a little more often? abc news, london. >> we thought we would end with a pout there. "good morning america" this week first thing in the morning. i hope to see you right back here tomorrow night. from all of us here at abc news thanks for watching this weekend. we hop

up 1% and a jeffries analyst, does it make any difference here? jeffries analyst lowered his rating and the price target for bed, bath and beyond, down 1%. and back to boeing, please. after 123 days of grounding. boeing dreamliner takes off. we're on $100 a share watch. by the way. to the big board, we're 8 minutes into the session and we are down 13. and i call that a flat to ever so slightly lower opening. time is money, 30 seconds, here is what else we've got for you, look at this. and questions about the role of the irs in obamacare, do they he have access to your health information? we are going to nail down an answer on that one, believe me, we'll have an answer. and "star trek," didn't make as much money, a lot of people thought it would. is the franchise finally losing steam five decades after i first watched it way back when? a sign of the times, when he asked to choose between staying green or building a pipeline to create jobs, voters in ubergreen british columbia, canada chose jobs. can you believe that? they did. jobs, build the pipel

jeffries said that the video ads could be facebook's next billion-dollar business. investors pushed facebook shares to 2455, that's a jump of more than 5%. >>> c.i.t. announced a $200 million share repurchase after the market closed today, hours after the new york fed ended its oversight arrangement with the company. john thain who used to run the stock exchange is ceo at c.i.t. investors piled into the stock more than six times usual volume. and the share set a new five-year high, closing at $46.90, up nearly 5.5% before gaining some more on the buyback news. >>> costco reported 19% jump in profits, but an 8% gain in revenue was below estimates. costco's revenue for memberships was higher by 12%. the company said it plans to open an additional nine warehouse stores by september. busy summer there. costco shares up 32% over the past year were off about a percent today on that revenue miss. they closed at 111.88. cnbc is reporting sony has hired morgan stanley and citigroup to approve the proposal to spin off sony's entertainment business through an ipo. it's the lar

. >> reporter: in a new book mike jeffries is quoted in a 2006 interview says they market only to skinny beautiful people. he said candidly we go after the cool kids. we go after the attractive all american kid with a great attitude and a lot of friends. a lot of people don't belong in our clothes and they can't belong. are we exclusion nary? absolutely. some shoppers say they are disgusted. >> it's discriminating against us. it's like racism against bigger people. i don't like it. >> reporter: does that stop you from shopping at abercrombie & fitch? >> no. they have to make their money and they will do what they do regardless. >> reporter: but this person supports boycotting the retail. she is on the advisory board of the national association to advance fat acceptance. >> it's a horrible message of bigotry, intolerance and saying -- in my opinion, it really promotes the kind of bullying that i feel like we as a nation are really trying to jump on and end. >> reporter: she says abercrombie & fitch is going backwards. a number of other retailers are expanding to a larger demographic, for

to go to extreme measures like not caring certain women's clothing sizes such as extra large and jeffries has even said he would rather burn it damaged abercrombie and fitch clothing than donate them to the homeless so filmmaker greg kapur actually decided to give the abercrombie brand a new make over take a look. headed to east los angeles also known as. the location of one of the largest populations of homeless people in america it was time to do some. people were reluctant to accept because perhaps they were afraid of being perceived as narcissistic daybreak is. that pretty soon they embraced it. in my expedition thank you sixpence but carver says that he can't make over the clothing company on his own he suggested that others find old abercrombie does and donate them to the needy so maybe in the not too distant future we will be more likely to see our clothing on the alley way down the runway so i will see you right back here at five pm with more news and death interviews. emission and free accreditation and free transport charges free arrangement free. free. to tide free. download fr

and jeffries gave facebook a $32 price target. >> thanks, lauren.two more market movers, minor maker gave a disappointing outlook. this is one we watch, because it's commodities, it's china, it's everything and they're talking about miners cutting their spending and also, while tesla ceo elon musk was talking about going to space we've got to take a look at the company here onnet. that stock is up more than 200% this year at the beginning of trading. just when you thought the irs scandal was gone, congress was off, the house committees are holding hearings next week and 25 tea party groups have filed against the irs. and lois lerner, the woman who said she quote, did nothing wrong and refused to answer questions to the contrary, explosive revelations are out about her time at the federal elections commission, talking 1996. she was investigating a republican candidate for senator who was running against dick durbin in illinois and she reportedly told him she would drop the case if he promised to never run for office again. and another report details

jeffries also upgrading from buy to hold. both citing momentum in its advertising business.ots taking a big hit. expectations down 10%. tesla continues its crime. it will triple its network of super chargers for electric vehicles by the end of the month. maybe they will do it. >> take a look at the nasdaq shares moving higher today. just yesterday reporting record trading volume for a single day. the nasdaq shares off by about 2.5%. sue, send it over to you. >> thank you very much. coming up, game changers, technologies that are shaking up the world. today on power lunch, streaming video over the internet. we'll tell you who is winning. plus the power house, my hometown los angeles. find out how much home your money buys. here's a hint. it's not a lot. but the weather's good. ♪ [ 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 live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. ♪

jeffries of new york. mr. jeffries: let me first thank the distinguished gentleman from the badger state, my good riend, representative mark pocan who has been a leader on issues of significance to america. in fact during his short time in the congress, we have seen week after week, month after month, representative pocan has come to the floor of the house of representatives, the people's house, and boldly articulated a progressive vision of how we can deal with some of the problems that we confront today in america. and certainly when we talk about wrapping our arms collectively around the issues of great significance in this country of ours dealing with the crisis in higher education is of utmost importance. and as representative pocan has laid out, if the congress does not act by july 1, more than ven million americans will face a doubling of their student oan interest rate from 3.4% to 6.8%. increasing an already heavy burden as it relates to their college education. why is it important that we address thi

mike jeffries says that his brand was absolutely exclusionary.he company has since apologized , but it sounds very bullish and of leaked so cool the we want to exclude children it cannot afford the brand. first to our traders. ben willis. we see that there is a new want to the federal reserve. now it is two days agoo but is still as a little bit of a residue moving through the markets. plus we have the situation that we have seen overall with bette data. durable goods came in looking good. what should investors going int the long weekend to? forget about all thing and come back tuesday to figure out? >> they closed with the idea. it will be the driving force al law. wipe itself off as we rallied. the market was lower this morning. the idea, the economic numbers were so. liz: should investors simply no sell in may and go way? that would have been a big mistake because we have seen records going on and on, but at the moment a slight pullback. >> i think you should take this as an advantage and maybe look to buy some company or stock, not quite yet

. >> congratulations, mike jeffries.fat people spend money as well. >> reporter: to boycotts. >> not only will i not let my kids shop at abercrombie again, i will not let them wear what they already have in their closet. >> reporter: even this jimmy kimmel sketch. >> abercrombie's ceo says that he does not make clothes for fat people. but that doesn't mean that fat people can't wear abercrombie's clothes. i feel fantastic, and i'm going to wear this shirt everywhere. >> reporter: the public outcry still escalating a month after we first reported the retailer doesn't carry women's sizes above a large, and the ceo only wants cool kids in his clothes. once telling "salon" magazine, "a lot of people don't belong in our clothes and they can't believe belong. are we exclusionary? absolutely." the company finally responding last week to protesters meeting with the organizers of this chicago rally. >> these kids are serious. they have had enough. >> i'm cautiously optimistic when i think back if we continue an open dialogue with

he says jeffries said he wants thin and beautiful people and that people who care the store's colleagues should feel they cool kids. they do not make women pants any larger size than a 10. they have been accused of discriminating again heavy people. "good morning america" will have more on the controversy at 7:00 a.m. >> a new snapshot of the improving housing market released this morning showing fewer united states homes entered foreclosure dropping 20 percent from march to april and down 32 percent from a year ago. also, fewer homes remain repossessed by lenders and even show, homes scheduled if auction in some states hit the highest level in more than two yours. they say those homes will end up on the market. that could be good news for buyers. >> time for a check of the forecast. thanks for putting together that shot of a sun over the clouds. it was beautiful. >> one my better works of art. i will look outside and see to we can find some other beauties that mother nature is providing. here is a look at something beautiful, if you do not want to bicycle to work in the rain. drizzle is

mike jeffries. he says he only wants good looking people in his stores because gad-looking people attract other good-looking people, and we don't market to anyone other than that. obviously this is a lot of people upset. one very perturbed gentleman in particular is doing something about it. >> hi. i'm jim o'hare. yes, i'm plus sized. abercrombue's ceo says he does not make clothes for fat people. but that doesn't mean that fat people can't wear abercrombie & fitch clothes. i'm here to show you exactly how you can do it. step one, walk into your local abercrombie & fitch. excuse me, where are the men's shirts? no, they're not for me. step two, assemblage. take your shirts and lay them out. then you want to cut the shirts up the center length-wise. now you want to line up the fabric. and then use your double-stick tape to secure the seams. lastly you want to staple the collar and the sides securely. there you have it. i am now rocking an abercrombie crombie crombie and fitch. your clothes are so styl

abercrombie and fitch is not commenting but mike jeffries once told salon magazine that a lot of people our clothes. they can't belong. are we exclusionary? absolutely. >> he has a business model. >> we're not talking about the push to give clothing to the homeless people. you can reveal your background. >> you have a relationship? >> i opened the first colorado store back when i was a youngster, and this was happening even back then. i was naive to, but they did hire pretty much my entire high school to open it and they want only the attractive people. these tactics have been going on for a while. >> this is not going to make is change. is this going to make it not as cool or change the reputation of abercrombie and fitch by giving clothes to the hopeless people. >> it might have an impact on parents because they decide on what they get for their kids to wear. >> mark: good point it's paid for by the parents. >> that's right. let me explain to you why it's uncool. >> mark: to retap this brand although it's a decent strategy, you got to say that. >> i actually feel like he's like reinfo

david: we have daniel furtado, jeffries, research analyst. top stock pick, redwood trust had a 76% return while he rated it a buy. start with redwood trust. you still believe in it. with the rest of the market there was a bigful book. think it ended down about 3%. is this a day you go in and buy some more? >> most definitely, redwood remains the top pick. that is the only buy rated stock we have in the real estate sector as of today. we think redwood plays on two important themes going on in the residential mortgage space. the first is a pullback from the gses and agency mortgage business. we think that will take place over the next five years or so. and the second is the implementation of basel iii. both of these changes in the mortgage market are in essence a tetonic shift that should help to draw private capital into the market and redwood trust is the tip of that spear. the second reason we are still bullish on the name is really the type of asset that they own. if you thhnk about a typical mortgage there are two pieces of risk and return

finally jeffries upgrading merck to buy.ck is above the best restructuring play in the world, as investors in the pharmaceutical business underperforms. going to be forced to restructure, up 28 over the past year. what do you think of this call? >> well, i actually have some merck on still, but i don't even -- i don't like the call in spite of that. think about another thing we haven't considered. three weeks ago the ten-year treasury was trading 1.6, now about 2.13. one of the reasons we loved these health care stocks is because of those generous dividends. that dividends has just been diminished based on the safe return. that might be something that causes some weakness in that. >> jim, thank you very much. see you later in the week. >> sue, down to you. >>> ty, coming up, chinese hackers going way beyond a pentagon red line, taking blueprint for some of america's most important and sophisticated weapons. what happens next? >>> simon hobbs on the caribbean cruise ship "fire" 2000, right? 2,000 vacationers? >> yes, when the

you very much, congressman horsford, and i thank you for your leadership, along with congressman jeffries and in leading this special order hour for the congressional black caucus. mr. speaker, i rise today to join my colleagues in the congressional black caucus in raising awareness about health disparities that continue to affect racial and ethnic minorities in the united states of america. despite medical advances that save many lives in our country, there has been very limited progress in ending the racial and ethnic disparities in health. in a 1985 report, the united states department of health and human services called health disparities in this country, quote, an affront both to our ideals and to our ongoing genius of american medicine, understand quote. now decades later health disparities still exist between black and white, rich and poor. a primary reason for these disparities is quite frankly the lack of health insurance that has been a problem for all these many years. for instance, african-americans make up 13% of the entire population but account for more than 1/2 of all peop

with me now, new york congressman, hakim jeffries.o see you. >> good to see you, craig. >> first of all, off bat here, what do you make of the latest developments in this part of the world? >> i think the middle east is going to be a difficult location with challenges all across the region. the president will demonstrate leadership as it relates to a very complex situation. craig, we've got syria with the regime and iran and hezbollah on one side and we've got al qaeda fighters and foreign entities getting involved on the other. so we've got to proceed with clarity, but we also have to proceed with caution, as it relates to this situation. >> has there been clarity to this point? there are a lot of folks who have said that based on the white house' response, that there's been anything but clarity from the administration on its response -- >> well, this is a tough situation in a very dangerous part of the world. so i think that the president understands that this is a complex situation. we're going to continue to support israel, as it

>> i don't want to be a part of dell because i think there's too much risk right now and jeffries putut an excellent report highlighting the fact that shareholders right now are just going to basically want the $13.65. they're not going to want to take the volatility risk, they're not going to take the uncertain downside risk should carl's efforts fail. >> carl's got a great track record. they say i'm with that guy. >> and the only way to do it was through the options market. i would not own the pure equity of this. just in a pure risk/reward basis, although carl is knocking the ball out of the park right now, i think that the odds are really long here against him. >> doc, is there a trade on dell? are people just best advised at this point to steer clear? >> i mean, the way i'm looking at it, scott, with what carl described for you on friday, again, kudos to the interview is i'd love to get that $12 a share and have that stub which some people say, well, the stub could only be maybe a dollar, $1.60 or whatever. the stub could also be $10. in other words, if you really want to bet on

in fact, their ceo mike jeffries says, "candidly, we go after the cool kids.go after the attractive all- american kid with a great attitude and a lot of friends." a lot of people don't belong in our clothes and they can't belong. are we exclusionary? absolutely." some abercrombie & fitch shoppers say they are disgusted. >> it's a horrible message to send of bigotry and intolerance. in my opinion, it really promotes the kind of bullying that i feel like we as a nation are really trying to jump on and end. >> some experts say abercrombie & fitch is going backwards. a number of other retailers are now expanding to a larger demographic. for example, forever21 now sells plus sizes. >>> the taco restaurant in orlando that was serving lion meat tacos has pulled the controversial dish from their menu. according to taco fusion's website, they say they listened to everyone and decided to no longer carry lion. this comes following an uproar on social media and some animal activists. the $35 taco was even getting the restaurant owner online threats. >>> wrigley is taking

ward mccarthy is here from jeffries, robert smalley from ubs. the university of pittsburgh. >> chairman bernanke will speak at the chicago fed conference. his topic is going to be too big to fail. and he will reiterate his position, that we have to change the perception that large systemically important institutions will be thrown a government lifeline every time they step on a land mine. >> with time to spare. thank you so much. rod, you're up. what should we be looking at? what are you preparing for? >> investment grade and high yield credit continue to hold their ground despite concerns about a credit bubble. here to date new issuances have been above last year's torrid pace. this week we saw 26 billion in new investment-grade credit coming on the heels of 40 billion last week, including that record-setting apple deal. high yield has been about 7 billion a week over the past couple of weeks. we continue to see funds flowing to most major credit classes. and tonight the weekly funds flows report will be published. so tomorrow i'll be looking t

meet peter misic of jeffries tells me that the iphone 5s will likely come out in september, not june.as a similar comment on another network around 1:45 p.m., which coincided with that downturn in the stock. scott redler also telling me 450 high pressu 450.50 was an important pivot for traders. when that broke, some got stopped out. last line for the bull, he says 435. nokia also lower. analysts at mkm say only 1% of their respondents had a nokia smartphone. morgan stanley, shareholders approving its 2012 comp plan. ceo gorman also saying that the firm hopes to deliver on its roe goal of 10% by 2014. other banks moving higher as well today. goldman, bank of america, and citi. bill, back to you. >> josh, thank you. >>> meantime, shares of sony have hit a new high today, up 10% on the news that the company may have to spin off certain divisions at the behest of an activist shareholder. let's get to the man who broke the story overnight, our own andrew ross sorkin. tell us more. >> i'll tell you, the biggest thing that's happened over the past couple of hours is that sony is trying to cr

tim leetch, sean darbi of jeffries, and ralph acampora. so what is the eventual needle that bricks this balloon? and we'll start with you, ralph. >> i don't know. honestly, i think things are great. i love it when people keep talking about a 10 to 15% correction. i love it with the cyclicals moving now. we've gone from four years of disbelief, and now we're in the early stages of belief. i think we've got a lot more to go. >> how are we in the early stages, ralph? we're at the point now, and listen, i learned this from you, as many people on wall street did, you have have been the mentor to so many technicians out there. i don't count myself as a technician, but as a student of market psychology, aren't we at the point now where so many people, yeah, there are plenty of people expecting a correction, but there are so many people who are starting to believe that this market can only go higher from here. >> yeah, you're right. they're starting to believe. now, when you look at all the cash on the sidelines, the public's not in this market, b

ceo, might jeffmike jeffries as any girl who does not fit into a size large is not welcome at the storeexhaled sizes in women's clothing. compared to stores geared toward the same demographic, abercrombie and fitch is the only company to refuse to provide anything that is larger than a size 10. analysts of abercrombie and fitch's besides the charge comes just after competitor eighth and m supplely reqh &m subtly releases side swimsuit collection. >> tell us what you think about this story on our kron4 facebook page. that is facebook.com/kron4. sound off and we will share your comments. >> will be right back. >> welcome back. the time is by 40 5:00 a.m.. the top stories that we are following for you this monday, may 13th. the mother of the 8 year-old leila fow ler, who was found stabbed to death and valley springs home, says that her 12 year- old son is " protective of his sister " and says of her son could never heard his sister. the boy was arrested friday and could be charged with homicide. >> we are watching gas prices rise was a get in the bay area. right now the state average is si

jeffries, barclays, royal bank of canada amongst the groups that are likely to sign on officially toe the remainder of what they're saying is roughly $9 billion in financing needed. there's still an open question as to whether the changing provision of at sprint would be triggered and you'd need to double that amount of financing. yes, a lot of questions but certainly interesting to see. though at this point -- as far as i'm aware, it hasn't begun paying for those financing commitments. >>> on to dell now, carl icahn is in the market looking for $4.2 billion to finance the leveraged recap that he's proposing for dell. remember, most of the cash of course would come through repatriation, sale of receivables, repatriation of cash that dell already has on hand. but they would need to borrow the number out there on the markets is $4.2 billion. that would seem like a layoff in markets like this. wouldn't it? though they aren't there yet. interestingly, i'm not getting asp much detail as i had's like but they're saying to banks, hey, if you come with the commitment an we don't fund, we'll