name and in when the millenials, they know that -- they know it grows white wave and what doesn't, kraft. sow that not only is kraft mac and cheese not natural and not organic, but it's met electric, as you can see from a recall notice issued last week where the company says some boxes built to last through october 2015 that says something in itself, may have small pieces of metal in them. "mad money". the portfolio managers know that white wave from 1750 to $42 as of yesterday. kraft only went from $47.61 during this period. it's only this takeover that sent the stock rocketing to stratosphere. that's why i didn't spend a whole decade. if you believed in kraft the whole way through, though, not only did you underperform a stock like white wave but you missed other movements like chipolte versus mcdonald's. was it all worth it for this payday? only if some other company equally challenged by the farm to table movement like heinz would make it worth your while, and even then you would have underperformed for years while you waited for this deal to happen. let me give you the new bottom line

heinz will refinance its high-yield debt with investment-grade debt piggybacking off of kraft's investment grade rating. smpany would have eight triple d-rating. matt: i will say craft heinz is a bid to appease the consumer because you don't care if you buy craft heinz ketchup beta-1 of by heinz kraft macaroni and cheese. scarlet: i do think about necessarily. matt: kraft is the main course but heinz is on the side. heinz will run the company and by the company and they will eventually shut down kraft headquarters. it is essentially heinz buying kraft. scarlet: kraft the so attractive they had to sweat up from mondo lee's so you could argue both ways. matt: what an awful name. who thought of that name. olivia: blame it on the consultants. for more on the merger, let us bring in brian. he is on the phone with us. he is a senior analyst at edward jones. thank you forgetting on the call. what is the logic of the call? are they trying to grow the business and turn around what has been a business structural decline of the packaged foods industry? brian: we know the trends of the u.s. are against a lot of these

s. alison: 7 on your side with a consumer alert. kraft is recalling its macaroni and cheese, 242,000 cases being pulled because some of the boxes may contain small pieces of metal. kraft did not say if there were injuries. the boxes can be returned to stores or refund it. to see a list of which boxes could be affected, go to our website, wjla.com. leon: from what is inside to outside, starbucks will jumpstart the conversation about race in america, but it is causing controversy. today starbucks announced they would train breese to -- baristas to talk about race. supporters say it is a healthy way to start the dialogue, but others say this could create division. the company will outline more about the campaign tomorrow. alison: a music superstar is helping an elderly woman from northern virginia. her name is edith hill, she is 96 and she made headlines when she married her 95-year-old boyfriend. her husband passed away in december. tonight, cher says she is going to pay to upgrade her family home in alexandria. a judge says she can return

. >>> the dow was up 224 points and the nasdaq jumped 45 and the s&p rose 25 points kraft is warning people about a possible danger in their mac and cheese the boxed meal could contain metal pieces the recall affects the 7.25 ounce boxes and there are no reports connected with this problem, anybody that bought an infected box can bring it back for a refund. >>> cancer survivor a.j. matthew was chosen as new jersey's top youth volunteer in the prudential youth volunteer. he sits on the board of childrens hospital in philadelphia. and grants wishes to young patients and accomplished all of this in delran along with this award, is he taking home a cash prize and a free trip to washington, d.c. >>> many children wore pajamas to class in glassboro, students at the school were allowed to dress down as a reward for helping others they collected 150 pairs of path ams and books for kids and foster care. the pajama program is a charity organization with drop-off locations nationwide. >>> still ahead, the biggest group of labor unions announced which candidate it will support to be the next can

kraft stock up. the dow sank 293. the s&p 500 dropped 30. nasdaq lost 118. the most interesting car pool in the world. we'll explain plus they thought she was crazy for claiming president obama followed her on twitter. wait until you hear the ordeal one woman went through. the grapevine is next. i love making sunday dinners. but when my back hurt, cooking all day... forget about it. tylenol was ok, but it was 6 pills a day. but aleve is just 2 pills all day. and now, i'm back! aleve. whether you need a warm up before the big race... or a healthy start before the big meeting there's a choice hotel that's waiting for you. this spring, choose choice twice, get a night at no price at 1,500 hotels. book now at choicehotels.com >>> now fresh pickings from the political grapevine. a long island woman is suing after she was committed to a psych ward for claiming president obama follows her on twitter. the new york daily news reports it started when police seized her car. her attorney says they believe she had been using pot despite finding no trace of drugs. she adm

kraft, a little bit nerve-racking -- >> reporter: first they need to pass an evaluation. by mars 1's >> what are the attributes that you're looking for? >> imagine flying to mars in quite a small little spaceship for seven months with three people. seeing the earth disappear. knowing that you'll never see your friends, never talk to them in real life again. we're looking for people who can do that psychologically. >> reporter: back in utah kelly isn't convinced her interview went well. >> this was more like a pop quiz. how much of minutiae of mars 1 mission plan did you study? i'm anticipating that i didn't make it to the next round. of mars 1. because -- specifically for that reason. >> reporter: the disappointment she fears arrives in her inbox. >> i have the e-mail. dear miss kelly, we regret to inform you that you will not proceed to the third round in mars 1's astronaut selection program. this is not the end of your cream -- >> reporter: she takes the news pretty well. >> i'm already on mars right now. i'm super excited to be still contributing to space settlement. >> reporter:

s&p 500 closes down nearly 1.5%. the dow jones tumbling nearly 300 points. crafting a major deal. kraft foods merging with heinz. create the number three

. >>> a public defender says 1,000 cop vixs s convictions may have to be reviewed bought of racist textmessages. >>> plus the blue box blues. what kraft found in some of its boxes of mac and cheese. >>> passion and profits. the choice that he made more than two decades ago that helped thousands of children. it's part of our bay area proud series. >>> then at 6:00. >> about 65 60 pounds. >> we took you along as these ladies strapped on equipment to help google change the way you hike. that's new at 6:00. ♪ at kaiser permanente everything you need is under one roof. another way care and coverage together makes life easier. okay, a little easier. become a member of kaiser permanente. because together, we thrive. ♪ >>> new fallout tonight on the troubling texts between police officers. the public defender's office says the racist texts could have the power to overturn hundreds of criminal convictions. 120 case right now but it could be as high as 1,000? >> reporter: they are saying that every single case involving the four officers that are still on the force and the one disgraced police sergeant who's been convicted. every one of the cas

s&p 500 down by 8 points. shares in kraftnk you, jason brooks from kcbs news. >>> time now for a look at what's coming up later on "cbs this morning." >> gayle king joins us now from new york. good morning. >> reporter: good morning, frank and michelle. welcome back. i missed you last week. i hope you had a good time. >> i was up at tahoe and having a good time with the special olympians and all that good stuff. >> reporter: see, isn't it nice to be missed. welcome back? good to see you both. >> appreciate that. >> reporter: following the deadly attack on tourists at a museum in tunisia, that's one of the stories we're working on for you at this hour. plus, we're gathering information on death threats made against u.s. ambassador caroline kennedy. and how threatened do americans feel by isis? we have the results of a heated focus group. and starbucks controversial new campaign tackling race relations. we'll look at the stinging backlash online. it's not working out as they planned. the news is back in the morning. we'll see y

the s&p is down 1% bolstered by kraft's performance on the back of that huge deal. >> that nasdaq sell-offis big now. we'll get into what's behind the biotech carnage today. our meg terrell checks the pain points plus the pros will be weighing in on what you should be doing. maybe is it time to buy the biotech dip or not? >> and up next is it apple pay or apple pray? one analyst claims as much as 6% of apple pay transactions is done using stolen credit cards. is it that high? we'll get both sides when we come back. we come back. hello. i am here to offer sophisticated investing strategies. my technology can help you choose the right portfolio. monitor it. and automatically rebalance it. all without charging advisory fees, account service fees or commissions. that may be hard to compute. but i'm a computer. so trust me. it computes. say hello at intelligent.schwab.com ♪ ♪ ♪ (under loud music) this is the place. ♪ ♪ ♪ their beard salve is made from ♪ ♪ ♪ sustainable tea tree oil and kale... you, my friend, recognize when a trend has reached critical mass. yes, when others focus on one thing

s&p fell nearly 13 and the nasdaq finished 16 points lower. >>> a private equity firm 3g capital is reportedly in talks to buy kraft foods.rnal" says the deal is likely to be valued alt around $40 billion. 3g bought heinz back in 2013 and would likely merge the two well known food companies. >> federal workers and retirees owe billions in back taxes. the irs says they owed $3.5 billion in taxes last year. that's an increase over the previous year. workers in housing vept had the highest delinquency rate. compared to the general public federal workers are more likely to pay their taxes. >>> the new study looks at the pay gap between men and women in nursing. the university of california research found that the average salary for male nurses in 2013 was about $70,000. for women, about $60,000. this is despite the fact that about 90% of the nation's nurses are women. researchers say there are several possible reasons. gender discrimination men are better any gauche yater, and women who leave work to have children return at a lower pay compared to the men who never left. >>> and some good news if you're an x files fan. ♪ the

. >>> kraft's stock traded lower all day but closed up at $61.87. >>> the only station with weather alert days. wusa9's first alert weather. >> i cannot believe we're talking snow. >> a yellow alert for friday for rain and snow. >> red alert, ready snow. >> i don't know if it's red o'meter worthy. for tonight just cold. some areas struggled to get to either side of 50 today which is below average. your average high is about 57. we're at 52 downtown. what pops out at me and may or may not pop out at you, the dew point is 9 degrees. the relative humidity is 18%. that means your indoor relative humidity is probably running about 4 or 5% so very dry air mass. i point that out because tomorrow night and friday morning could be very important because what's going to happen is that temperature's going to rise and the temperature's going to fall. they'll meet somewhere in between. that's going to mean a little snow. cold start, grab a winter coat for tomorrow. bus stop temperatures, 26 to 42. not windy or breezy tomorrow but still cold. thursday afternoon just a few clouds and a little bit chilly, not a bad da

>> no to tell you the truth, that's a lot of number us,s, and no i have not done that math. >> the other question broadly for kraftey have struggled. i'll go to alexi on this. >> well the whole food industry is facing a decline. kraft has a couple good brands oscar mayers the philadelphia cream cream that they've been doing well in. but higher margins, jell-o those kool-aids, crystal lights kraft mac n cheese that's has more power. in what consumers choose what they want to eat. they shift away into bigger brands and small brands like amy's. >> is warren buffett making a mistake getting involved with another processed food company? >> well i think that the cost savings at 3g obviously have allowed the profitability of heinz to really soar. despite of the fact that the frozen business has been shrinking. from a profit perspective and value perspective, it makes a lot of sense. but in terms of the long-term growth, they are coming down. >> jonathan one of the things we've been trying to understand is the implications of this deal on potential other transactions what this does to other folks in the food business. wha

s&p 500 closes down nearly 1.5%. the dow jones tumbling nearly 300 points. that wipes out the dow's gains for the year. and crafting thank you for "taking stock." a major deal. kraftinz. the agreement would create the number three beverage company in north amer

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s but for now they are making the most of it. >>> let's talk about news and breaking news just in because of the u.s. food giant hineseinz is buying kraft's group what they say will be the third largest food and beverage company in the united states, a biggie. the deal was engineered by heinz' owners 3g capital and a billion billionaire investor warren buffet berkshire hathaway. kraft share owner will receive stock in the company and approximately $10 billion or $16.50 per share. wow. there you go. we look at that story. a quick flash of the markets, and a lot of excitement going on there. that's it. follow me on twitter at bb "sport today." bye-bye. >>> hello there. this is "sport today." coming up some last minute fine tuning one of australian crickets all time greats on hand as they prepare for a world cup semifinal against india. some stinging criticism from the challenges to his people presently. >>> and tiger's target the u.s. ryder cup captain revealed woods is already setting his sites on next year's match. >> hello. welcome to ""sport today"" from the bbc sport center. after neiled after new zealand's incredible victory, is it to

capital is in talks to buy kraft food for $40 billion and amazon slams the faa for a lack of impatiens on commercial drone regulation. we'll be back in a couple of minutes. s aren't always obvious. sometimes they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group: how the world advances. >>> this report tracks demand for big ticket items such as planes or heavy equipment. orders are forecasted to rise for a second straight month. charles evans is speaking in london in the next hour and there's earnings today from the likes of paychex, pvh, red hat and five below all reporting earnings in today's trade. mow the leaders of france germany and spain will visit the scene of the german wings plane crash later today. the french interior minister told french radio the first black box retrieved yesterday was damaged but usable. meanwhile they have confirmed further flights will be cancelled after some crew members refused to fly over because of safety concerns. >> now german wings staff are due to hold a moment of silence. that will begin in jus

s & p lost 30. technology stocks were hurt the worst. investors say economic growth is slowing. >>> two companies behind many familiar brands are merging. heinz and kraft are merging. critics say they need to update projects and reflect changes to more fresh and natural items. >>> a statewide recall is underway for raw milk that may be contaminated with a dangerous bacteria. milk has tested positive for campylobacter bacteria. symptoms include diarrhea, abdominal pain, fever, nausea, and fomenting. most people recover, but there is a risk of possible long term arthritis, or even paralysis. >>> coming up, a motel with a reputation for crime, assaults, shooting, even murder. the effort now to shut it down. >> up first, a theft of hundreds of specialty hens that's getting a bay area business during one of its busiest times. ♪ ♪ ♪ >>> new at 10:00, a family farm says hundreds of its specialty hens have been stolen. the hens lay colorful eggs that are particularly popular this time of year. amber lee is live with what makes this loss even more painful. >> reporter: we're in the nursery. the family tells me these home raised hens produce eggs for customers a

s. what was starting to emerge apple, microsoft amgen, southwest. brendan: i need to get this question in. kraft'll be there hot -- velti. do you even like a kid, too? steve: i do. olivia: can 3g turn around kraft foods? ♪ tom: good morning, everyone. thanks to our control room for keeping it going this morning. quite in the market, but a lot of news. this is david driscoll a few days ago on kraft foods. this is before the merger where he has a cell. --a sell. this is a train wreck waiting to happen that mr. buffett and the brazilians bought this morning. if campbell foods next? ed: that is one that has been speculative about for some time. -- speculated about for some time. they may want to do it, but i don't know if candles will want to sell. tom: i want to go to a colleague of yours in christ, john edwards and his presidential campaign a few years ago. are we living in to america's and -- two america's now? steve: in cities like new york, you have a huge inflow of capital, foreign capital. tongue: it's a greater divide isn't it? -- tom: it's a greater divide isn't it? steve: it is a greater d

s vai sikahema introduces us to marcel. >> reporter: marcel is a bright and friendly 12-year-old with a creative mind for building. either with legos or in the world of mine kraft. so we went to the play 2 room in south philly where he gave me some tips on how to play. >> myself is happy, go-lucky young man. he likes to play games and be active. >> reporter: he was a natural at the game and really helpful in explaining how to play. he has dreams of being a lego master builder in the future. >> he can put together just about anything. his mind gets to wondering and figuring out things and he will figure out how to put anything together. >> reporter: he is currently in 7th grade and does well in his special education classes. he's a smart young man who knows what he wants in a family. >> why is it important for you to have a family marcel. >> because family help you and they support you and they give you love and affection. >> reporter: the ideal family would provide structure and guidance. >> marcel would do excellent in an active family. a family that's outgoing that can pretty much keep up with him. because he's very active he likes to be on the go. >> tell me

kraft singles. thanks for joining us, come again, okay? >> thanks for having me. stuart: tenet health care it's not doing much today but tenet health care is big mover in the s&p 500have a joint venture with united surgical partners, tenet will have the option to buy them over five years. tenet is up 5%. and then there's pete rose. ah there's a growing effort to lift his lifetime baseball ban. you, the varney viewer had a lot to say about it on the varney facebook page. would you believe 43,000 comments? by far our most popular post ever. more on rose next. ♪ ♪ stuart: wichita state tops kansas, it was a stunning victory over the weekend. most people's brackets were busted when villanova lost to north carolina state, including mine by the way, such as i know about it. another big upset was michigan state's win over virginia according to espn. out of the 11 million people who filled out their bracket on their site, not one person has it perfectly correct at this point. not good. an opinion piece in the "wall street journal" this weekend said, yeah, it's time to forgive pete rose and let him into the bauble hall of fame. we -- baseball hall of fame. we simply asked

s&p and nasdaq. crude oil is higher as the dollar continues to correct lower. >> our road map starts with the big deal of the day with kraft and 3g capital, historic merger of american food companies. >> on that merger, warren buffett speaking to cnbc, hear his take on 3g heinz, and kraft. >> facebook holding its developers conference mark zuckerberg keynote and the stock at all-time highs. some leaks on what to expect. >>> coming up on the show later, charlie ergen, chairman and ceo of dish network, rare and exclusive interview with mr. faber. his first interview, by the way, in over a decade. that will be coming live in a few moments. excited about that. first, we've got to talk about kraft shares. they are absolutely surging. opened up more than 30% after announcing plans to merge with heinz in a deal orchestrated by warren buffett's berkshire hathaway and 3g capital. the deal could top $40 billion, creating one of the world's largest food and beverage companies, number five in the world, number three in north america. here's kraft ceo john cahill who just stepped off an investor conference call about the deal. have a l

s&p 500. it is a sea of red, but as you can see, if we zoom in a little bet, you can see right to the left-hand corner kraft, as i was mentioning the stand-out mover to the up side today. power back in a flash. so open an account with schwab. and when a market move affects, say a cloud computing stock you're holding, we can help you decide what to do. with tools that help you see how market activity is affecting your positions. so when the time comes to decide whether to scale in or scale out... you can make your move wherever you are. and start working on your next big idea. ♪ ♪ in new york state, we're reinventing how we do business so businesses can reinvent the world. from pharmaceuticals to 3d prototyping, biotech to clean energy. whether your business is moving, expanding or just getting started... only new york offers you zero taxes for 10 years with startup ny business incubators that partner companies with universities, and venture capital funding for high growth industries. see how new york can grow your business and create jobs. visit ny.gov/business >>> welcome fwook power lunch. we want to call