switch over to retail, joseph a. bank and men's wearhouse gained grounds after men's wearhouse turned the tables and offer to buy rival for $55 a share. last month is-t rejected joseph a. banks $2.3 million offer. >>> this move by men's wearhouse is known in our nerdy world the pacman defense, like in the video game. which means you can go from being hunted to the hunter. does it work in the world of corporate takeovers? let's ask ken moore and jerry reeseman, partner at reeseman partners. guys, welcome to you both. keith, first to you, your initial reaction, is it a smart move by men's wearhouse, this counter-punch? >> i think it's a smart move from the point of view that when you take a look at buying companies on pro forma basis, i think men's wearhouse stock can do quite well going forward. >> just to get into the strategy element of this, i mean, talk us through a little history here. does this generally work out for companies to turn the tables? >> this hasn't occurred too often. it occurred with a french oil compan

men's wearhouse says that acquiring joseph a bank would be a boon for its cutomers and shareholders. in its statement men's wearhouse says it would not re-brand joseph a bank stores. joseph a bank had no immediate comment on the surprise move. a federal judge could rule as early as today on whether american airlines can fly out of bankruptcy to merge with u.s. airways. amr- the parent of american airlines is already succumbing to new runway rules set by the u.s. justice department.now, the bankruptcy judge must decide whether that effects the airlines plans to exit bankrutpcy for the better or for the worse.the judge will also rule on a private lawsuit by consumers who fear the merger will lead to higher air fare. in our cover story, the affordable care act has come under attack for its website glitches and cancelled policies that were inexpensive to buy but next to worthless to claim.now, the supreme court will hear arguments on whether mandating the birth control provision violates freedom of religion. supreme court justices decided to review provisions of the affordable care act th

joseph a. banks is a crazy momentum stock and really fun to trade. first chart i have out here, it's a year to date chart of joseph a. banks really simple analysis of a ten day and 30 day moving average. the ten day crossed above the 30 day back at the beginning of september and it hasn't looked back. it did that at 41. it broke above ands has stayed above. now you're soaring all the way up to like 56. i think the buyout is at 55 on this thing. so it's really crazy momentum and it's really fun to trade on the upside and downside. that's good news as far as trading. on a longer term basis, we put up the next chart which is a three-year chart on joseph a. bank. it did break above the downtrend line that came in, it broke at 53 and now trading at 56, 5. this is really tough to trade at this level. i wouldn't want to buy it here probably trading strategy would be to wait for it to come back to that trend line, buy it at 53 and leave a stop at 51. otherwise i would wait to see if this merger suits. >> all right. a stock you may not be able to take to the b

>> i am wearing a joseph a bank tie for this occasion. it is sort of a joseph a bank pac-man. i will be online for the sales but i am one of the purest or traditional select to be with the family on thanksgiving rather than in the store. more of a strategic acquisition or merger. they both think they need to get stronger, and believe accommodation would make sense. liz: what is the best way for investor to capitalize on this? a lot of it has to be who is next to be taken over. is there a tip or two you can give? >> i would look at a few things. one is cash flow. number two, does the company have a lot of debt on their books? it may not be a good acquisition candidate. and three, the market and the industry. if it is a growth industry you should be buying into that industry. liz: he has appropriately titled company. >> happy thanksgiving. liz: to you as well. david: is a good man to listen to. black friday is only two days away. they're not the only ones with the deals, coming up another industry that is getting in on the action. are you one of the many americans traveling for

men's warehouse turning the tables on joseph a. banks. w this comes just weeks after it flat out rejected joseph a. banks $2.3 billion acquisition bid. this is known as the pac-man defense. when a company targeted for takeover turns in a rival bid and gobbles up its potential buyer. the deal would create the fourth largest retailer retailing clothing for men. joseph a. banks said they will evaluate the offer and respond. now may be the time to renovate your home if you can convince the bank to loan you the money. how some people are getting their renovation and getting around the banks. >> it was very creative. i was playing with different types of loans. it was daunting but i think it will work out better financial financially. >> reporter: "real money" continues. keep it here. power of the people until we restore our >> people are remodeling their moments like crazy right now. experts say there will be strong gains for the home remodeling market all the way through 2013. business is booming. home renovations can range from $300,000 to $5

and offer to acquire joseph a. bankreviously made a bid for men's warehouse. >> joseph banks said we would be open to a similar deal. and men's wharehouse could do i. joseph a. banks is somewhat vulnerable. >> that was interesting. now the 80s play that was a little bit before my time but it stands out because it was such an unusual defense. this set up perfectly for men's warehouse. i think at the end of the day these two will come to some sort of an agreement. they can both see very clearly the synergies of being together. i think they are both open to it. >> what do you do with the shares now? do you get out? >> i sold some, i kept some. if the deal is all cash it could close quicker. i don't have a huge position. >> tim and i have no comment. >> awe. >> that's really cute, guys. >> does this validate the men's warehouse from totally laying away from the bid. >> i don't know. they are lucky, smart, whatever. the overlap of shareholders is pretty big. >> a lot of hedge funds on both sides. >> it doesn't stop here. new

joseph a. bankselling miracle ties. >> reporter: brave describes these incredible young people. i'll tell you right now there were some visionary eyes that designed these phenomenal ties. 12-year-old lyla's favorite season is winter. she designed the holly tie. >> and holly is a plant that you see in winter, so i chose to draw that. >> reporter: the miracle ties are all drawn by the young patients at the johns hopkins children center, sold by joseph a. banks which presented hopkins with a $60,000 check from last year's sales. >> we're happy to be able to partner with them so we can make these children's stay a little easier while they're getting treatment. >> reporter: she received a heart saving transplant when she was just 2 years ailed. she designed this snowman tie. >> it's amazing to show the world just what i have and how my diagnosis is not as bad as people may think. >> they are so resilient and in facing really hard medical challenges. when you allow them to play and draw, it's easy to remem

men's warehouse new hy, joseph a. bank new high. a winning day. where else offers to buy joseph a. re, 9% premium. this is two week that the bid was dropped, silicon from this unsolicited proposal that is happening but everyone on wall street when you read analyst commentary think this energy, the combination of two companies will be a good one, 1700 stores. tracy: thanks. see you soon. dennis: what is bugging me is the fda crackdown on sheet dna testing. a naked power grab by an imperial bureaucracy. the fda is intruding on a new found of digital information about my own personal and genome which could reveal high risk cancer of heart disease and it belongs to you. the fda says you don't get to learn about unless the fda been that okay. every crackdown need the head on a stick, a target the government an attack as a warning to others. in this case the target is an outfit called 23 and the. itself and at home test called less it kit. kate cute kids, swap your in your cheek, get back report matching your sample against genetic markers for 240 trade including killers like breast cance

. >>> men's wearhouse likes the way joseph a. bank looks. after fighting off a hostile bid from its smaller rival, men's wearhouse has turned the tables. it's now bidding $1.5 billion for joseph a. bank. if something's trending on twitter, robots and fake accounts would be why. twitter says fake accounts are less than 5% of its 230 million active users, but some experts think it's a lot higher. >>> the world's most valuable book sold this week for $14 million at sotheby's in new york. "the bay psalm book" is the first printed in america. >>> and maserati's new car will set you back only $65,000. the ultimate luxury brand is trying to lure more buyers. perhaps the only good news, if you're stuck in an airport this weekend, is this. okay, maybe it's not good for your waistline, one of these? it's a cinnabun, of course, the sweet smell of the airport experience. up next, we have the story of how a hooter's waitress became the president of cinnebun by the age of 32. which means it's never been easier to get a new 2014 jetta. it gets an impressive

more than 30% above its price in october when it joseph a. bank made a takeover offer for men's wearhouse. joseph a. says it will respond to the offer in due course. sounds like they're in hurry. men's wear house up 60%, joseph a. bank up 30%. >> two strong reads on housing. home prices up by the highest amount since 2006 and permits to build new homes surging to their highest level in five years. diana olick is in washington with details on bothp. hi, diana. >> hi, sue. you're right both reading are high but as always we need to look inside those numbers to find out what's really happening. take a look, first to permits. we didn't get housing starts because of the government shutdown delays but building permits did rise 6.2% in october month to month and are nearly 14% higher than a year ago. strong, yes, but largely on the back of multi family apartment construction. single family permits were up nearly 9% from a year ago but multifamily was up 24%. there is your renter nation folks. why are so many renting? because home prices are jumping ever

as a result, joseph a. banks you're going to like the way you look that guy was unceremoniously thrown out. i forget that guy's name. ready to engage with joseph a. bank, we believe, immediately. is this a bear hug? what is this? it's like -- >> it's a bear hug. >> they're making it known. >> unsolicited proposal. >> yeah. >> i'm trying to figure out what's gone on behind the scenes already. it sounds like they've already -- >> it's a 45% premium? >> no. >> unaffected enterprise value, and 30% premium over -- they're closing share price on october 8th. >> and it's already gone. it was at 42 before all this started happening. >> they're very similar, aren't they? what can you get a suit there for, andrew, $300? >> i don't even know. >> i think you can. >> $300, $200? >> let me message and see. >> i knew you were going -- >> that was awful. i'm kidding. >> they make good suits, by the way. >> that's what i'm saying. like you'd ever, ever. you won't even walk past that store. >> i bought some ties years ago from men

this was a big deal in the retail world when joseph a banks offered a hostile takeover of $2.3 billionen's warehouse which is a bigger company than joseph bank. today joseph a bank took that offer off of the table. men's warehouse rejected it earlier calling it inadequate. there had been speculation though that perhaps a bigger deal could come along that they would accept. bank says even though it's taking the offer off the table it still thinks a deal would be the best interest of their shareholders of both companies. >>> wall street coming off another record close yesterday based off of testimony at the senate banking committee and the senate confirmation hearing for janet yellen the federal reserve prospective head. most of her nomination is based on the fact that she would maintain stimulus policies. also today investors liking son news coming out of china' leadership saying they are going to liberalize foreign investment in the country in particular when it comes to ecommerce. we'll see if the market can continue strong gains we have had this week. right now the dow is up by 16. n

the miracle ties are available at all joseph a. bank stores and online. since the program started in 1995, the miracle collection has raised more than $950,000 for the kids at johns hopkins. a lot of us got these ties. you have one. >> yes. >> bob turk has one. come over here, bob. >> tim williams has one. >> let me tell you about this one. this is made by thomas griffin. he's 11 years old. and being treated for cystic fibrosis at the johns hopkins children's center. he is such a good artist. this is called bringing home the tree. there's a tree in a pickup truck. good job, thomas. it's awesome. there we go. >> this, by the way. madison, is age 11. and the title of her tie is santa go green. >> i like it. great christmas gifts for such a great cause. awesome. >>> still ahead on eyewitness news. >> do you smoke crack cocaine? >> what does that mean? yes, i have smoked crack cocaine. >> reporter: a shocking admission. but he's not backing down. why toronto's mayor won't leave office willingly. >>> grilled again. what health secretary kathleen sebelius is say

miracle ties are available at all joseph a. banks locations. and you can get them online. >> since it started, the miracle tie foundation has raised $950,000 for the kids at hopkins. >> i love it. and it involves them. and it's a great gift. >> you hit it. i think the fact that the children designed it make its the best. >> i like this one, too. still to come on eyewitness news at 4:00. controversial issue. prayers at the start of government meetings? why the u.s. supreme court is taking the issue on. >> go ahead. >>> there's a little girl, riding her bike on the side of the highway. >>> dangerous situation. a girl rides her bike on the shoulder of a highway. see what happens. >>> it is beautiful out there now. but chilly temperatures. yes, they're coming back into our forecast. the updated, first warning weather forecast is coming up. >> wjz 13 is always on. for the top stories on cbsbaltimore.com, instant updates and first warning weather all the time, click cbsbaltimore.com. ,,,,,,,,,,,,,, >>> oh, my goodness. what a gorgeous day outside. i c

again, joseph a. bankmen's wearhouse, had been rebuffed for same time, and finally folded up its tent, said we're going away. activist investor, 8%, still going after the board. but also encouraging the two companies to talk and, in fact, had raised the idea that men's wearhouse could turn around and buy joseph a. banks, and that could be an accretive deal. that's what men's wearhouse is proposing to do. it's interesting to note both of the companies, basically on the potential accretion, the synergies, have added $1 billion in market cap since this started on october 8th. >> what happens if it falls apart? >> they both go down. >> yeah, that's a billion dollars. >> yeah, these are not large companies. >> right. >> so on $3 billion, you know, you're talking 30 plus-percent appreciable value, simply on the idea they'll get together, whether it's joseph a. bank buying men's wearshohouse, or perhaps the other way. >> david, thanks, i think. >>> no secret that the rollout of obama care has been tough, but ther

it repeatedly said joseph a bank's offer was just too low. >>> prices on u.s. exports dropped last month. analysts had expected an increase. the drop suggests that consumers are struggling to afford products made in america. >>> the toronto security council has stripped the mayor of his ability to run the city in an emergency. daniel what is the latest? >> reporter: it has been a really wild week here in toronto. it ended with some procedural moves against the mayor, rob ford. he was accused by the media about five months ago of being seen in a cell phone video smoking crack cocaine. he denied it, and recently the police chief came out and said it does show him smoking crack. details of his private life are talking about it here in toronto and around the world. the mayor has to be removed from a senior level of government, and no one is doing that. to the city council voted to limit his powers. >> thank you very much. >>> andrew thomas has a report now from beijing. >> reporter: this official abolition of the one-child policy, but in future in either member of

originally, you had joseph a. bankn's wearhouse, we want you even though we are your smaller rival and you're undervaluing our company. and just a few weeks later men's wearhouse says on the contrary, we are going to take you over, and joseph a. bank confirmed this up solis -- unsolicited proposal. men's wearhouse is offering to buy it for $55 per share, an 8.7% premium, and you have the insiders who are looking at this thinking it's great. i was just reading about m&a activity and the specialists saying exactly the synergies between these two companies, it would be a great merger of the two, and both stocks are hitting 52-week highs. liz: i love that story. three for one over at jost a. bank. [laughter] yeah, dennis knows. hey, listen, speaking of dennis, back in september we met up wite days in the valley coverage in silicon valley. the moto x had just been released. here's what he said. >> we're pretty happy with where things are. again, this is a long investment that we're going to be making, and we're two weeks in

that being said, you may remember joseph a. bank weeks ago dropped their bid for men's warehouse, men's warehouse is $55 a share, and you are seeing both stocks moving to new highs. jost a. bank will concede they did receive this unsolicited proposal. it is an exciting story, and it's pushing the stocks to the upside. adam: nicole, thank you very much. the four cs when you're considering a diamond. forget cut, clarity, carat and color, more like charles, charles and charles, it sounds like the five ds this dodgeball, duck, dive, dip, dodge -- whatever. mr. payne spot on with his tiffany's call. new jersey is betting gamblers will flock to gamble online. could it be a money fix for other states? we will go live to atlantic city and let you roll the dice. ♪ ♪ luck be a lady tonight. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though w

so men's wearhouse and joseph a. bank in focus. >>> gold in focus, too, falling to a one-month low today. let's get more from jackie deangelis and the "futures now" crew. >> that's exactly right, scott. gold dropping for the fourth straight day and lost $80, so, anthony, what is the problem for gold? we've been discussing this for a long time. what will finally put the floor in the market? >> jackie, you've had the safe haven status for gold out the window all year long, with the equities up 20%. a couple of weeks ago, we failed miserably at the 1,660 technical level, and the strengthened dollars, which also put pressure on the gold. the only thank that will save it if the fact that inflation ramps up and people look for it as a hash. >> 1,278, a key technical level, we've broken through that, will we finally find support? or do we go lower from here? >> it's a well-defined trend line. i think for me to call it totally broken, i'd say even down to maybe 1,270, because sometimes it's not an exact science. normally, on a tr

. >>> joseph a. bank is pulling the bid to buy men's warehouse. jos. a. bank's proposal to acquire it's larger rival men's warehouse expired yesterday. although men's warehouse never entertained that bid, jos. a. banks said its would be open to future talks. shares of the retailer were up on the news. men's warehouse rose 1% to $46.64. >>> general electric plans to spin off the credit card business next year as a accept pretty company. it would take them out of retail lending to make less money from the volatile financial sector and more from man fracturing. the stoke rose today. >>> climbing to multi year highs after reporting strong fourth quarter eerpings. the insurance mtd maker beat on both the top and bottom lines but guidance missed wall street easie' estimates. the stock surged by more than 8.5% and closed at $54.93. >>> and investors bought up shares of zoo lily. that discount retail site that targets moms priced above $22 and shares took off ending the day up more than 71% and closed at $37.70. >>> our market monitor guest tonight is bullish on

. >>> men's warehouse likes the way joseph a. banks looks after fighting off the bid from the rival. men's warehouse turned the tables. it is bidding $1.5 billion for it. >>> if something is trending on twitter, fake accounts are less than 5% of the 230 million active users, but some experts think it is higher. >>> the world's most valuable book sold this week for $14 million in new york. the book is the the first book ever written and printed in america. >>> and it is not exactly an economy car, but the maserati's car will set you back $65,000. it is trying to lure more buyers. >>> coming up from san quentin to silicon valley. >> i was sentenced in 1994. at 25 years old, i started entertaining thoughts of i might die in prison. >> what did you talk about? >> motorola just came out with the flip phone. >> still locked up, but now making a case to venture capitalist. not the parole board. inside one of the most dangerous prisons in search of tech entrepreneurs. that's next. smsiness credit with amazing rewards. with the spark cash card

joseph a. banks a. banks along with the private equity fund of golden gate has offered $48 a share, it has been stiff armed by men's wearhouse. it could in fact at least will try to move this along. that shareholder is eminence capital, a fairly large hedge fund. it will report a 9.8% position in shares of men's swaz wewearhd solicit a leverage recap, to create more value for that company which is trading right around $43 a share, rejected 48, did not allow joseph a. banks in to do due diligence in which they said they might be willing to increase their bid. we'll see if this is something that gets this process moving perhaps in a way that joseph a. banks with like but, jim, men's wearhouse does have the ability to act by written consent and could go to the board of directors. people have been waiting for an activist to get in here. >> it's a necessary combination in a very difficult industry. i'm surprised men's wearhouse has been giving it the stiff arm. >> guys, let's cram in a quick break if we m

sold by joseph a bank which presented hop kin with a $60,000 check. >> we're happy to be partner with children to help them stay easier. >> 5-year-old brigdett received a life-saving heart transplant when she was 2. she designed the snow man tie. >> it's amazing to show the world what i have and how my diagnosis is not as bad as people may think. >> they are resilient in facing hard medical challenges. when you allow them to play and draw it's easy to remember the child they are. >> every buck we make will be worth one person getting better. >> kai jackson reporting. since the program started in 19r acle tie collection has raised more than 950 $950,000. >>> the ravens will be back on the practice field today as they prepare for a divisional show down on sunday. the ravens will be hosting the first place cincinnati bengals as they try to stop a three game losing streak. linebacker terrell suggs said the team has gone from a state of emergency to death con five. he still thinks they can turn things around. >> any one of these games can be the one, you know, where it finally clicks for u

department is sending people from washington to abc7 job journal hire event the clothing retailer joseph a banks also hiring. 500 jobs will be up for grabs tomorrow on gateway place between noon and 4:00. >> someone has come forward to claim a power ball worth $200 million the ticket sold in this fast and easy store. the only ticket with all six numbers today a man came forward to claim the prize. officials forced to cancel a news conference because he didn't want to go public. later he was identified as a 68-year-old carlo mitchell of fresno >> he's now wealthy. >> yes >> let's talk about we're rich in terms of the weather. >> yes a mazing. >> we've got temperatures in 70s at least into afternoon. they're dropping a bit now. here is a look at live doppler seven hd. clear skies across the coast. and we have a frost advisory. this is between 3:00 a.m and 8:00 a.m . of damage to sensitive plants is possible. if i were a thermometer i would be shivering as well. right now, a beautiful live view from our east bay hills camera looking west over the bay. clear skies and 59 in san francisco now. san c

in september, men's warehouse rejected a 2.3 takeover by the hi bi-joseph a bank. now, men's warehouse says it would respond in due course. nasdaq finished above 4,000 for the first time in 13 years and the s and p is headed for a perfect ten. all ten sectors up 10% or more for the year. >> for decades most women diagnosed with breast cancer could expect to have their tumor removed but a twist is helping researchers test more quickly and in the case of a company to get new treatments to patients faster. ache taking a stroll with laurel may, you'd never guess she has been locked in a fight for her life. she began receiving a drug.. >> i feel amazing. no one knows i'm sick or that if anything is wrong with me unless i tell them. it was developed by genen tech. hall barren says it helps block a protein believed to drive the cancer. >> can stop signalling of the very, very bad protein from caution problem was women. >> reporter: successful enough that it hoped to fast track approval for early stage breast cancer as well as advanced. a process normally takes years. but w

today, joseph a. bank -- >> are you, really? >> no. it says it has ended its $48 per share takeover bid. joseph a. bank said it would terminate the proposal if men's wearhouse didn't engage in talks. so that has happened. >>> let's talk about the battle of the consoles coming to a head today with the release of sony's hotly anticipated play station 4 ahead of next week's launch of microsoft's xbox 1. both consoles will mark the first major gaming overhaul in years. scott stein is joining us. do i buy the sony today? do i wait until next week to buy the microsoft? >> you may wait even longer. i think you wait. you wait, wait, wait, because these plat foerforms -- >> meaning tonight? >> for this moment, it's hard to tell. here is the play station, here is the xbox. here is the new play station controller. the hardware is nice. it's an upgrade. it's not like an ipad or a pc where you take your software and put it on. they don't play the old games. >> you can't play the old games on it? >> no. it will be a continuing surprise. so yeah, you

in september, men's warehouse rejected a 2.3 takeover by the hi bi-joseph a bank. now, men's warehouse says it would respond in due course. nasdaq finished above 4,000 for the first time in 13 years and the s and p is headed for a perfect ten. all ten sectors up 10% or more for the year. >> for decades most women diagnosed with breast cancer could expect to have their tumor removed but a twist is helping researchers test more quickly and in the case of a company to get new treatments to patients faster. ache taking a stroll with laurel may, you'd never guess she has been locked in a fight for her life. she began receiving a drug.. >> i feel amazing. no one knows i'm sick or that if anything is wrong with me unless i tell them. it was developed by genen tech. hall barren says it helps block a protein believed to drive the cancer. >> can stop signalling of the very, very bad protein from caution problem was women. >> reporter: successful enough that it hoped to fast track approval for early stage breast cancer as well as advanced. a process normally takes years. but w

it's made a 1-1/2 million dollars take over bid for joseph a. banks. banks made its own offer for the men's warehouse last month. shares of both companies rose on the bidding war. >>> they have solved the cold case homicide. it has been more than 20 years since the victim 43-year-old castro valley man was stabbed to death. investigators say dna evidence led to the arrest of two people. a man and a woman. but as ktvu's allie rasmus reports the suspect's daughter says only one of them is guilty. >> reporter: his former wife irving stood behind her attorney. the two face first degree murder charges for the death of steven ruteger. it's the first time the two have been in the same room for 20 years. >> we've always run from him. it's something we try to avoid to talk about him. it's something we don't want in our lives. >> reporter: linda believes that her mother is not guilty. she believes it's the fault of her estranged husband. >> reporter: sheriff's department say that they were going through a financial dispute and detectives believe money was the mot

nicole: we thought there was a possibility of men's warehouse and joseph a bank getting back togetherthe offer is just too low. the first is men's warehouse response to the letter of joseph a bank saying men's warehouse board of director concluded it is not in the best interest of shareholders to provide access to information. it is just too low. the ceo is confident the strategic plan will deliver more value to the shareholders than the inadequate highly conditional proposal bid thanks the support we have received. we have been watching, down to under 30% --dash two.33%. i do not happening unless there is a sweetened bid. maybe they can reconsider. connell: thank you, nicole, we appreciate it. dagen: men's warehouse bought the label started by famed designer reigniting the brand with its creator. connell: here with us right now. chief creative director for the men's warehouse. did you talk about anything the call was talking about? >> i am on the creative side. i leave that to smarter people than i am. connell: we mentioned earlier talking a a brand in fashion. >> right now we're try

and joseph a. banks makes ties out of them. the program has raised nearly a million dollars. they're now available at joe banks stores near you. here's the one that i have. it's called -- by thomas griffith, age 11. bringing home the tree. i was going to wear it today. but it kind of doesn't work real well with the shirt i chose to wear. >> mine is the hope train. i love the message, love the tie. but i don't know how to tie a tie. so i do apologize, ashton dean, i just don't know how to tie it. maybe you can help me. >> mary did it earlier. >> mary knows how to tie a tie? >> she's a jack of all trades. >> good for her. >>> upstanders and bystanders. how to fight the battle on bullying. why the state's attorney general is teamingun with students to win. >> i'm gigi barnett. that story is next. >>> swim test. the important accomplishment, by two of the newest and cutest members of the national zoo. >>> under fire. i'm bob u -- bob turk in the first warning weather center. showers and then cools down again. i'll have the exclusive first warning five-day forecast. >>> and wjz 13

it's made a 1-1/2 million dollars take over bid for joseph a. banks.n offer for the men's warehouse last month. shares of both companies rose on the bidding war. >>> they have solved the cold case homicide. it has been more than 20 years since the victim 43-year-old castro valley man was stabbed to death. investigators say dna evidence led to the arrest of two people. a man and a woman. but as ktvu's allie rasmus reports the suspect's daughter says only one of them is guilty. >> reporter: his former wife irving stood behind her attorney. the two face first degree murder charges for the death of steven ruteger. it's the first time the two have been in the same room for 20 years. >> we've always run from him. it's something we try to avoid to talk about him. it's something we don't want in our lives. >> reporter: linda believes that her mother is not guilty. she believes it's the fault of her estranged husband. >> reporter: sheriff's department say that they were going through a financial dispute and detectives believe money was the motive for murder. >>

joseph a. banks dropping its plan to take over men's wearhouse. not the end of that situation. and linked in with a buy right. and yelp. barclays downgrading kellogg from underweight to buy weight. kellogg down 1.25% on the day. sue? >> we all might be our who e7b 1 k's worst enemies when it comes to growing it. target date funds have become the automatic default options but nearly 70% of employees still pick their own investments according to jpmorgan. they found those that stuck with target dates saw an average return of 13% in the last three years. employees who manage their own account had a return of under 11.5%. part of the reason for this do it yourselfers, they often park their money in accounts without actively managing them. the jpmorgan analysis found 90% of those type of investors do that. they put the money in but don't manage it actively. let the new video game wars begin. playstation 4 hits the stores and microsoft releaguses its ne x-box next week. so what's the difference? >> i'm in the middle of some hard core investigative journ

david: and it is a battle of the suits literally, men's wearhouse has made a $1.5 billion bid for joseph a. bank after they had made a proposal to acquire men's wearhouse in october. a busy say. "after the bell" starts right now. ♪ ♪ liz: and massive cable news that broke in the last hour. according to dow jones industrials, the dow jones news wires, cox communications, david, may very well be putting at least a bid in for time warner cable, so today join charter, and they join comcast in this battle. david: meanwhile, i'm just trying to pressure some kind of gain on the dow, just managing to hold on to the green strokes there. liz: let's get to the market action because it was rather interesting. ryan dietrich, senior technical strategist. he just looks at the charts, the testimonying of it. he doesn't get -- technology of it. he doesn't get emotion a. he's still bullish, he'll tell us why, and larry shill very joining us, not a win for the s&p 500, we needed to see 1804, but once again the transports and industrials looking very healthy. >> absolutely. the market has tried so hard, so hard tod

. >>> joseph a. banks dropping its plans to buy the men's warehouse. they called the offer inadequate. >>> new questions this morning about whether the tsa officer killed in the lax shooting cam page might have survived the attack. why it took paramedics so long and for the rescuers to get there before he decided to get medical aid. >>> a veteran put on leave because of the way he signs off on his e-mail. the three words that got him spool trouble -- into trouble. [ male announcer ] you can change your tomorrow if you do something today. and there's never been a better time because this year, devry university has $45 million dollars in need and merit-based scholarships and grants available to those who qualify. and this degree can make a difference. in 2012, 90% of devry university grads actively seeking employment had careers in their field within 6 months. now is your time. apply by january 6th and find your career success in the bay area. visit devry.edu. >>> welcome back to the morning news. 6:25 is the time. the peninsula humane society is offerin

earlier this month men's warehouse turned down an offer from joseph a. bank to buy the company. n's wearhouse wants to buy them. stocks shooting higher and shareholders like the results. let's look at the big board right now after a mixed finish yesterday. the dow today up 24 points nearly going nasdaq up by 2 trying to go for 4,000 again. the s&p higher by over 1 point. michelle and frank back to you. >> keeps going up. okay jason brooks thanks. >>> 6:45 right now. a check on the traffic with liz. >> and we will start you off at a live look at the sensors in the south bay. there's little bit of slowing coming up the guadalupe parkway but nothing unusual for this time of the morning. again that's northbound 87 and a little slow and go as well 101 coming into san jose. right around capital expressway. out towards mckey. here's a live look at the bay bridge toll plaza. the metering lights were turned on 6:00 a.m. on the nose this morning. so now you are stacking up towards the foot of the maze and it looks like the cash and the fast track lanes are both filling in but the far left

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also urged them to talk to joseph a. banker in the week said it would raise its bid if it could see men's warehouses books which was rejected by men's warehouse. then there's geron soaring to a four-year high on heavy trading. also amc networks fell after the cable tv's third quarter profits misread forecasts. it spent more on programming to replace marquee shows such as, of course, "breaking bad." qualcomm lower. posting weaker than expected fourth quarter earnings and warned that current quarter sales would be below forecast. those qcom shares taking it on the chin. back over to you. >>> heading toward the close, 30 minutes left. i just heard from art cashin that selling pressure is not that strong. only $75 million to sell right now. but we are down 126 points on the dow. and the nasdaq is down 1.5% today. big selloff. twitter fever, though, is sweeping the new york stock exchange floor. is it contagious? is twitter a buy with the college crowd? we'll get the answer from -- >> the college crowd. >> good idea. coming up. >>

david: men's wearhouse got a nice pop in a today's trading after rival joseph a. bank dropped its bid for the retailer. men's warehouse rejected the offer in october calling it opportunistic and inadequate. happy friday, everybody. "after the bell" starts right now. liz: this is so cool. we've got six weeks of gains for the bulls. we love our bears too though. let's break down today's action with bob doll, nuveen asset management equity strategist. we have four stocks, four stockr portfolio. for our viewers i can't afford to miss. teddy weisberg from the new york stock exchange. we want to bring in larry shover from the pits of the cme. all three of you what a day we have capping off quite a robust six weeks. we'll start with larry at the cme. what really drove this trade when you could say the import export numbers weren't so great and there was data that was a little noisy? >> that's a great question. there is so much negativity. some people still don't believe, so many people still think yellen is dovish quote is enough to underpin the risk sentiment in the market a

he also wants men's wearhouse to speak to joseph a. banks week said it's willing to raise its bid for the company. those shares are also up, tyler. back to you. >> thank you very much. >>> one of twitter's key demographics is, of course, the so-called millennial generation. but what do high school investment clubs think about twitter the stock? seema you've been looking into this. >> wall street cares about what these teens. remember last week when facebook said teen usage is decreasing, the stock moved lower. now, these student investment clubs we spoke to all said that they use twitter, but that that could change. >> we're going to talk about the twitter ipo. >> reporter: at warwick valley high school in warwick, new york, twitter is a hot topic with the school's investment club. how many of you use twitter? the group's been looking into the ipo and considering if they would pick the stock for their fantasy portfolios. >> it's going to go up, and it's going to go up quickly, but when it peaks, it's going to go down very quickly. >> i thin

let tell you about men a's warehouse and joseph a. banklet us do due diligence, we might raise our bid, please, please, please. didn't help. a hedge fund that is being an activist here, even though mr. sandler earlier this week put a letter out that said we talked to the ceo of men's warehouse. you haven't engaged with us in any discussions regarding our proposal. bye-bye. the question is what is eminence going to do about it? they come out with a release that said we are now going to try to seek to have a special meeting with the shareholders. you can act by written consent but first you have to move to get an amendment to do that. so they are going to try to do that to move towards a consent solicitation to remove directors without cause before the next annual meeting. they would need 10% to even then call the meeting to try to amend the bylaws. the new york hedge fund manager would have to go down to texas. that's a tough road. >> seems like you all get along. >> i jest. we get along quite a bit. these companies would do well together.

stuart: inside the men's clothing business the retailer joseph a. bankd warehouse would not negotiate, it got dropped. the stocks are up. new data from the census bureau, median home, 9%, 72, 2012, calif. seeing the biggest drop with prices falling 102,000, the start of the 2007 recession. we will be paying less than the thanksgiving dinner according to a report by the american farm bureau. the average family will spend $49 for thanksgiving dinner, $0.44 more than last year. thank falling turkey prices. up next i am going to see if there's a dimmer, that is a revolution. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed much is the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ stuart: the house is debating the fred upton bill w

i get to an ipo, in name the move, joseph a. bankgeorge soros joining a couple of the other big guys like ron paulson, showing a stake in fedex and fedex moving to new highs was as if a bank on the high, moving into positive territory after saying it didn't work out in men's warehouse and we will explore other strategic alternatives. as if a bank and to do's warehouse in the green, sony, today's the day of play station 4. i got my call, get yours and midnight, not getting it in my family, not me coming it is to the downside for sony and nordstrom came out with their numbers, weaker with the outlook, that the luxury retailer. cheryl: thank you. dennis: breaking news the house set to vote on a bill that any minute will allow americans whose insurance has been cancelled to keep their plans through 2014. rich edson on capitol hill with the latest. dennis: the house is about to begin this vote that will likely result in the house passing a bill that would allow insurance companies to continue offering the plans that were phased out largel

encouraging them to look at the joseph a. bank offer. twitter to the downside today. 9 range. fedex looking good with dan lobe takeing a stake. walmart offering black friday great deals on thursday, 6:00 p.m., eight p.m. eat turkey and run over to walmart. many others are open as well. target and jcpenney. dennis: always means less fighting by the family when you break it up to go shopping. thanks, nicole. >> it's a city with one of the highest crime rates in the nation. philadelphia, and its mayor teaming up with u penn wharton group of business and other companies to tune-up technology surrounding philly's public safety. we have the advisor from street cred software and advisor to the program that the mayor of philadelphia has been pushing for. first, a basic question here, what can the public and private sector do together as far as crime in philadelphia? they have got a lot of problems in philadelphia. is this answer, technology? >> well, it's actually more than technology and i had thought it was technology also. what i found out was that there's a 100 million-dol

joseph a bank is dropping its plan to buy the men's warehouse.it had offered to buy men's warehouse last month for $2.3 billion. they called the offer inadequate. they said it could try again but only if the men's wear house board of directors proposes a new deal. >>> apple is following the orders of a federal judge in the samsung damages retrial. judge lucy co said the retrial should contain nothing new. and apple's attorney stuck to the same script used last year. jurors saw the same video clip of o steve jobs introducing the iphone in 2007 and heard the same samsung internal e-mails used in the first patent infringement trial. it's expected to wrap up next week. >>> time 7:45. disturbing new information about the lax airport shooting ram rampage on november 1st. two officers who watched the video say tsa security guard gerardo hernandez who was shot and killed was bleeding for 33 minutes before paramedics wheeled him out and took him to a hospital. police had not yet declared the terminal was safe to go in. however, officers shot the suspect,

a trade update. karen has been making the bull case for joseph ample bank. >> they actually had a very interactive conference quite some time. it was very positive. we're long. i like it. it's cheap. >> joseph bank. ooelter way they take over or get taken over. >> it's been a good call so well. initially told men's warehouse that it would consider. but men's warehouse wrote back saying the deal was ined a quality and said can't do it. so we're not opening up the books but it looks increase gsly like this might not happen. >> i think they were hoping that they would be pressuring men's warehouse shareholders to put pressure on management to come to the negotiating table but i don't think that's happening. so i think november 14 without a deal. the most likely place is for them to use their cash horde to buy back shares. we're long some. we sold some last week. >> it was a totally different strategy. >> it is. how do you flip on a dime. >> they can't make it happen in the short term, which they can't. they have missed the window for this year. >> right. >> but ether way you see potential upside. a deal will ha

. >> coming up, joseph a. banks pulled its over. we'll be back.you can fill that box and pay one flat rate. how naughty was he? oh boy... [ male announcer ] fedex one rate. simple, flat rate shipping with the reliability of fedex. . >>> welcome back to "squawk on the street." the latest report from the energy department on weekly oil supplies just came out. we're looking at an increase of crude supplies of 400,000 barrels in the past week. crude supplies rose by 400,000 barrels. analysts were looking for a decline of about half a million barrels. we looking at decline in gasoline supplies of about 300,000 barrels, a decline there of about 300,000 barrels. the big surprise here, the decline in distill at fuel supplies, down over 4 million barrels. that was a surprise there. analysts were expecting a decline of about 1.3 million barrels. we're looking at oil off of their low of the special. we'd seen the december contract trading right around 93 a barrel, january which is the most active right now is down only about 13 cents at 93.76. we'll be keeps

a suburban office complex. >> the bank was fairly steep. >> medical examiner joseph burton had to hold on to a rope to get downad a ligature mark on his neck like if somebody had a ligature and they were behind you or off to the side behind you and they closed their hands or fists together and pulled the ligature, basically. >> in other words, killed from behind. >> most likely, yes. >> all right. let me place another sample on this side. >> state crime lab scientist larry peterson attended the autopsy. >> i can recall at one autopsy pulling a fiber off of one of the victims. it was a green carpet fiber and mounted the sample on the slide went over and looked under the microscope and it's the same one. >> you knew right then? >> knew right then. >> apparent it's another victim of atlanta's child killer or killers. >> local television carried these pictures live from the crime scene. >> as it was studied it was apparent it was one of the three children listed as missing. we're told the child's body -- >> sheila baltazar got a call from her mother. >> she say, they found another body. she say, i really feel like