henry mcvey of kkr says there are good reasons we're seeing these moves.bc exclusive to tell me where he sees opportunity, here and abroad. henry, good to have you on the program. >> thanks for having me. >> first, let me get your take on this rally. we have our share of skeptics out there saying this market has moved too far, too fast. what's your take? >> our base view is we're only in the midcycle of the economic recovery. and i think housing, autos, energy and manufacturing are going to drive us for the next couple of years. we're still seeing things to do. the other thing i would say, i just got back from asia, people want to bring money to the u.s. rule of law, housing is recovering, energy revolution, so i think the trend towards a stronger dollar and a stronger u.s. economy is going to be with us. so that makes sense. to me, the stock market is sniffing out that earnings are going to reaccelerate in the second half of the year, less government dysfunction going into 2014. so tactically, are we ahead of ourselves, probably so? but we still think thi

market is improving dramatically and people will turn a nice profit so we looked at blackstone and kkr with a great franchise with a private equity and real-estate manager and at a significant discount to many of the bank's and the traditional asset managers. liz: what is your hottest fund right now? >> i think the flagship the spectrum fund. liz: we just showed that it is fascinating because dan says don't sell in may and go away. you cannot have the summer off but the active investor. thank you. alger ceo and president 18 billion in assets under management. we only have 36 minutes before the closing bell rings and we are in record territory so let's watch every step of the way. wood splitting jamie diamond chairman and ceo role in tutus separate pieces be a buying opportunity for the stock? charlie gasparino has the scoop everybody says don't do let him keep both and you won't believe what former groupon ceo has been obtuse and systematic exit and we will tell you about that and a few minutes. ♪ .. we know a place where tossing and turning have given way to sleeping. where sleepless

just crossing the tape before, general petraeus is joining kkr. before we do that, let's head over to tokyo and check in with kaori enjoji. >> good morning, ross. we saw another very steep sell-off in tokyo equities today, very similar pattern to what we saw a week ago. the market here in tokyo now trading at its lowest level in about four weeks. there hasn't been anything fundamental that drove the market lower. a lot of it is technically different. futures linked to selling, coinciding in the drop with the dollar/yen that accelerated towards the close in the afternoon session here. the bank of japan governor, mr. kuroda, seemed to be saying the right things in the morning. he was saying that he was going to do everything he can to calm the jitteriness in the bond markets. but that really wasn't enough. so in the afternoon, the bank of japan stepped up to the plate and they said they're going to buy more bonds more frequently. topping up the program that they announced in early april, which is eight times a month of pure chase of jgbs, they're go

sources tell gasparino petraeus has close ties to kkr cofounder, henry kravitz and john mack who useduarter earnings for applied materials beating estimates at 16 cents a share. revenue also topping expectations at $1.97 billion. as for the current quarter the company's eps range is falling short of consensus. >>> the empire state building now on the verge of going public. so far 79.6% of the owners votes are in favor of the public offering plan. the move to incorporate the building into a real estate investment trust needs only 80% to move forward. that is the latest from fox biz, giving you the power to prosper. at od, whatever business you're in, that's the business we're in. th premium svice like one of the best on-time delivery records and a low claims ratio, we do whatever it takes to make your business our business. od. helping the world keep promises. david: the esteemed "wall street journal" releasing its list offthe top stock-pickers in the country. and all week we've been bringing you the number one name in five didn't sectors. liz: today's master stock-picker is doug harne

kkr has more than $78 billion in assets under management. patraeus resigned from the cia in november after admitting to an extramarital affair. following the grounding of its dreamliners due to battery troubles, boeing managed to win its first order for a stretched version of the 787. singapore airlines plans to purchase 30 of the 787 10x dreamliners. the jets will be delivered to the airline beginning in 2018. analysts view the order as a strong endorsement of the troubled aircraft. tesla wants drivers to go the distance. the electric car company will triple its network of charging stations from l.a. to new york by the end of june. the ceo also furthered his plans to develop a high-speed transportation system known as "hyperloop," which would get passengers from l.a. to san francisco in a half hour. tesla shares traded up 32 cents to nearly $105. car companies are giving the electric car market a charge by lowering prices on leases. honda is the latest to cut the cost. the automaker is leasing its fit ev by a third to $258 per month. gm and

i can tell you about talks inside kkr, these are fairly advanced talks. they could come extremely soon if they do come. my only caution here this is a guy that is wanted. there are other players. he is not he is not, he is not signed up until he is signs on the bottom line. in terms of reputation, rehabilitation, listen, the guy had, i don't look at that as something that he has to worry about. i don't think anybody on wall street would. this is a mistake. i don't --. melissa: doesn't impact his business knowledge. if they're getting him to consult potentially defense or weapons deals that makes a lot of sense. >> our you're asking me about a private affair. it was with consenting adult if it happened. i don't even know it happens. lori: it raise as question of trust and working for kkr and raising money and confidence -- >> don't compare general petraeus having extramarital affair with consenting adult is not akin to eliot spitzer who had sex with a prostitute. melissa: she didn't get anywhere near that. >> i was saying if you're going to trust the guy,

kkr bought it and the natural way that happens they pile a lot of debt and have you deal with that?k add it has a fabulous company for years old was technology and innovation accompanied it is still innovating has great customers for calls that i received in the first two days to encourage me even more than i had before about the future if you look at the talent in the company they have done a good job. the interim ceo has been fabulous so i think the opportunity is very large and the customer base is fabulous and the employee base is fabulous. melissa: then why haven't been unable to do that? >> there was the consumer crisis in this business is affected by that. it is the matter was working customers closely this company does throw off profits and cash it is a strong company. melissa: that depends on consumer spending with its transaction consumers are facing a lot of headwinds whether higher taxes as a result of taking away the payroll tax holiday or higher unemployment how does that impact the business? they cannot do as many or as big transactions. it does look strong but we are

the four star general has hooked up with private equity firm kkr. on public policy macro economic forecast and advice for emerging market. he resigned after admitting he had an extra marital affair. >> president obama is set to nominate cia official turned hedge fund director. he served in the bush administration but refusing to a reauthorize a warrantless wire tapping program. no word from the white house on his nomination just yet. republicans gearing for a fight in a statement senator juk grassley said if he was nominated he would have to ask t answer questions about the recent work in the hedge fund industry. he wants to know if he could build a case against former col peeings if he ever had to go up against wall street. he made nearly 150,000 dollars in illegal campaign contributions senate majority leader harry reid and now former lobbiest harry wit more faces up to five years behind bars. a jury found him guilty of excessive campaign contributions donations in the name of someone else and false statements. reed says he was not aware of any is

kkr will be built in 820 multifamilunits., $5,000 signing bonus for managers, they ve so many bs they dot have people to fill th. what is to hate here? >> as you mentioned we have one of the hight unemploymentates here in the country out in california. we have hundreds of billions of dollars in debt mostly due to pension and retirement obligations. we could certainly use the help. the difference between here and texas and north dakota and some other place the environmental lobby is very stro out here for good ason. we have a beautiful piece of real estate out here and californians support protecting the environment but there is a balance we need to strike and don't think the balance is going in the direction of business as it ought to be. melissa: steve, the epa said quote, repeatedly coirmed hydrauc fracki has caused no proven incidents of ground wer contaminatioo. fracking is not new. it has been going on for a long time. just the technology has gotten better, we can do re of it. that's why you're aring more about itow. is

kkr the private equityiant possibly looking to to do a deal can neiman marcus. delightful.ews sent saks shares up 13%, to an all-time high. >>> spending money. a die-hard fan of "harry potter". rare first edition of "harry potter" and the ilosopher stone went up for auction at sotheby's. the unidentified buyer paid $230,000 for the book. only 500 copies exist. wow. >>> another new twist f the feds to take down hedge fund leader steve cohaen from sac capital. they are treatings him like the mob. they may use the rico statute used against none other than john gotti to bu up the mafia. could the whole thing blow up from prosecutors faces? here is foer federal prosecutor doug burns and securities attorney richard roth. greato have you both on the show. do, what do you think of the tactic? will it wor >> that is interesting you need to look at whole history of the case. matthew martoma was busted arrested and everybody said if he fps and cooperate maybe they take down a case against steve cohen. from my ls. i don't thin that happened. i don't they have been able to do that. invo

you have three rival offers from three big rival buyout firms, guggenheim partners, kkr and silverlakent agency, wme. you have to wonder what are you getting if you buy hulu? as free site hulu gets 25 million visitors a month. that is not bad but a pittance compared with 125 million free visitors every month at youtube. as a pay site, hulu plus has 3 million subscribers who pay eight bucks a month. that pales in comparison to 0 million paying subs for netflix overall. hulu revenue is past $700 million a year. over half of that comes from advertising the owners hope to get maybe as much as $2 billion for this video site. but, once hulu is sold it could lose its sweetheart content deals with its three owners and their three tv networks, abc, fox and nbc. and the question then becomes, what is it that all these guys are really bidding for? david? david: well, that is a good question, particularly have all the competition you have on an apple tv, you have the hulu, you have the apple itself and of course you have netflix. i mean what is your prediction? do you think hulu will find an answe

. >>> and kkr, head of global macro and asset application will be with us.ely to tell us why this history rally still has room to run. all of that and more, we'll see you at the top of the hour, meantime "street signs" coming your way. the ocean gets warmer. the peruvian anchovy harvest suffers. it raises the price of fishmeal, cattle feed and beef. bny mellon turns insights like these into powerful investment strategies. for a university endowment. it funds a marine biologist... who studies the peruvian anchovy. invested in the world. bny mellon. vietnam in 1972. [ all ] fort benning, georgia in 1999. [ male announcer ] usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection and because usaa's commitment to serve military members, veterans, and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. with fidelity's new options platform, we've completely integrated every step of the process, making it easier to try filters and strat

the "new york post" reporting likely bidders include large private equity firms, among them kkr and leonardtners. >>> teens are more revealing about themselves on social media in an attempt to protect their reputations that is according to a new study from pew research about online behavior. many teens are flocking to twitter in efforts to avoid their parents and the oversharing. 26% say they use the micro blogging site, more than doubling the amount back in 2011. that is the latest from the fox business network, giving you the power to prosper. liz: "the wall street journal"'s top stock-pickers getting a lot of attention and what we're doing is bringing each and everyone of them to you. the number one names in different sectors all this week. david: today's master stock-picker is angie from a mac quarry capital management. one of her top stock picks last year, american water works jump 100%. while she rated it a buy. >> thank you. david: thanks for coming in. a lot of people look to utilities for yield at a time when everybody is chasing yield. there have been legend written about all the

follows reports that hulu received offers from directv, time warner cable and private equity firms kkr and silverlake. -pliz: according to people familiar with the matter, bausch & lomb is nearing a deal to sell itself to valiant pharmaceuticals for $9. bausch & lomb home which is owned by private equity. david: did you see this story? thank god nobody was killed. interstate 5 bridge collapsed yesterday sending people and vehicles into the water. we feared the worse. the officials say the it may have been caused by a trailer that crashed into the structure. so far no injuries. liz: two publicly-traded entities, news corp is splitting the entertainment businesses from its publishing decision. news -- division. news corp is the parent company of fox business. david: that means we're entertainment, liz. charles schumer said regulators should use extreme caution when reviewing the acquisition of sprint by japan's softbank. the senator said the softbank use of chinese telephone equipment could open the u.s. up to hacking. that is a danger. "after the bell" starts right now liz: so glad you'

. >> kkr is apparently taking a stake and they have been suggested to possibly put a proposal for a mergerrcus goldman sachs has been hired for a central jurisdiction adviser, sit te bank saying they think there's high probability of a deal. with a $19 price target. this is only for the seasonal players, i think. >> pop on staples by 3% today. >> it was a mixed report but the market decided to look past it. i think they also give good guidance on a go forward basis. if you think more people go back to work and the economy improves staples as quasi cyclical play on that. >> we've got a battleground stock, herbal life dropping by about 7%. what's going on? >> the stock was up 50% since the beginning of april. up 18% at one point this week. i think it was giving some of that back here. one of those stocks with high concentration alongside. it's that big battle between icon and acmen. i think it's a bit of a retracement of recent strength. also this was a beneficiary of hedge funds chasing for performance. we know where the shorts are and they squeezed this one. >> plaxico, the scandal husband

>> also, kkr had a global asset allocation. henry mcvey in the house. he's constantly traveling.out where he's going now and where are the hot spots in the world. back in a moment. en in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. 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: the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ dave's always wanted to do when he retires -- keep working, but for himself. s

has put in a bid for the online giant including a list including time warner, kkr, and directv.me that bids were due wednesday, and everyone now is awaiting feedback, expecting to hear some counteroffers before a winner is declared. we do expect the price tag to be in the ballpark of $500 million, plus a share of hulu's ad and subscription revenue down the line. michelle? >> thank you so much julia. >>> a great one to watch, can't wait. most winners in sports toast their victory with champagne, but only one professional event celebrating winning with ice cold milk. >> did you know that? >> yes, i did, actually. >> okay, all right. that would be, of course, this weekend's indy 500, a race worth nearly $100. now, is the 97th running of the 200 laps around the indy motor speedway, and is the largest single day spectator sport. the man behind the race, mark miles. mark, welcome. you you be beside yourself, ready for this race on this weekend. >> yeah, this is kind of the calm before the storm. we had 75,000 people out here today. i'm watching jim harbaugh out there. he's going to dr

. >>> a new career for david petraeus, joining the private equity firm kkr.akeovers and banking on his experience, rolodex to find new deals. former general will be head of a new institute. >> have to believe that will pay pretty well. >>> new information about the newborn in china rescued from a sewer pipe. the baby boy has left the hospital after being nursed back to health. and the child's mother won't be charged with a crime. david mackenzie joins us on the phone from china. where is the baby exactly this morning? >> reporter: john, the baby has been taken away from the hospital. baby 59. quite extraordinary after the ordeal that happened here in china, the fourth floor of this building. that child dropped into the toilet. given birth to into a toilet by his mother. had to hack away at the sewage pipes, take him to a nearby hospital and pry open to reveal this young child. took about two hours still he survived. police won't target this woman in any way through prosecution. there is a sense from the neighbors here, this woman might have been very young an

kkr bain capital, carlisle, goods and toshiba are reportedly set to bid. to raise about $1 billion from the sale and is looking for a partner with medical expertise. >>> securing around $9 billion in financing for its $25 billion with sprint/nextel. the move comes days after sprint agreed to enter into talk wes dish which is compete, the $20 billion offer struck last year by softbank. they're recommending shareholders go with the soft bank deal. as far as the stocks are concerned, softbank up 1.3%. dish network down 0.6% in frankfurt. >>> japanese markets are clinging to the bank of japan. we'll get the minutes on the policy meeting. china's airport industrial profits along with april trade figures for thailand. we want to remeend you this morning, you are looking at shots of what was flight b-762. the ba flight 762 from heath row to os low. it took off, returned shortly aft afterthe plane that you're looking at. as you can see, the emergency chutes were activated. the london fire pregad were called out. they say five crews, of course, fire affecting an ai

he's joining the giant private equity firm kkr, known for corporate takeovers and is hoping his experienceill be chairman of an internal institute there focusing on communications, public policy and investments in emerging markets. >> making serious, serious money there. >> yeah. >>> attorney general eric holder's plans to meet with the media hit a snag. major news organizations including the associated press, "new york times," and huffington post said they will not take part if the meetings are off record. the justice department says they are off the record to encourage a full exchange of ideas. holder is under fire for two cases involving secret subpoenas or searches of journalist phone records. if they're believed to be involved in reports of leaked classified information. >>> the white house and irs have no comment so far this morning to the latest lawsuit filed over the tax agency targeting tea party group. american center for law and justice filed a suit on behalf of 25 tea party and other groups that it says had their constitutional rights violated. the suit names attorney general e

carlyle and private equity peers such as kkr are reportedly attracted to steady cash flow and also lowvides. >>> as european businesses struggle to secure lending from banks, private equity's the answer. that is according to research out today from frontier economics. the report shows that nearly 250 million euros of private equity was invested in over 19,000 companies between 2007 and 2012. joining us now is vincenzo morelli, who is the chairman of evca. nice to have you on board with us today. >> hello. >> i want to talk about one of the calls that's come out from this report, which is that private equity involvement in portfolio companies increases the efficiency of innovation efforts. what evidence is there to support that? >> well, i think, you know, the headlines is that private equity in europe accounts for about 6% of private sector employment on average in the countries that are studied by the roheport, bu it accounts for 8% of r&d and 10% of patent citations. that's a very good proxy to tell you there is a high level of productivity in private equity companies when it comes t

former four-star general and cia director will lead an institute at private equity firm kkr to focus he's the governor of rhode island. some people say he looks like steve. he banned the christmas tree. he's making headlines again this morning. remember, he was a republican and turned into an independent. now he'll seek a second term as a democrat. just 25% of rhode island voters said he's doing a good or excellent job. brian, what are you doing outside? >> thanks for asking. we're having a pool party out here without water. the pool tables are with us. it's that time of year again. new york superstar justin tuck to my right. taller and stronger than i am. later we'll take our shirts off and prove it. the best pool player in the world janette li. she of six children practices four hours a day for tuck's celebrity billiards tournament. how is pool helping you raise money? >> we come out and have fun. the reason i do a pool tournament is because i'm e not good at golf. we've got great sponsors to come out and have fun. it's a way to give back to the community that's given so much to me

below the $3 billion number we're dealing with and not to mention any other private equity look and kkrd i shouldn't say any other, and say no thank you at this point. >> again, he's not making a tender offer for the company. he's simply saying, take control and we will pursue this leveraged recap plan where we will load debt on and we believe we'll give you a higher return. >> what do you think about the fact that they're guiding down in estimates and forecast in order to take the wind out of the sails out of its stock price. >> that's an old situation to put yourself in, isn't it? >> you have a situation that has a special committee that is under siege for the work its done. we've said many times the conference here are very difficult to combat, but i think they've done a relatively good job in trying to do so, but part of that is letting people know things are not good here. we did the best we could in a very much deteriorating situation. southeastern will say forget pcs. they don't party. they're not of importance and we think the other acquisitions are what makes this company and w

the retired general is now chairman of the newly created kkr global institute.eneral petraeus served as cia director until last november until an extramarital affair with his autobiography triggered a change. she was a real fashion icon. women emulated her hair style, her clothing. this is a dress from the second administration. in a way, this is the most prized piece of all, because this is the inaugural gown. it stayed in her family and became the family wedding dress. this was used by her granddaughters. cleveland's every day) very stylish. a lot of them look like something that you could wear now. black withacket, velvet.l purple-blue this is a more evening- appropriate fees. lace,n see the beautiful sequins., -- you could wear this with a skirt. >> the conversation about frances cleveland is now on our website. and tune in on monday for our coverage of caroline harrison. host: we continue our visit to the washington, d.c. bureau of washington news with chris political reporter. thanks for joining us. among your beats in politics is congress. congress is out