. >> a deal between lennar corp.nd a pair of chinese government anentities and to construct a home at hunters point and high rises on treasure island has collapsed. the 1.7 million deal fell apart large silver demand by the chinese for more control over the developments than lennar was willing to give. mayor ed lee was hoping to hear good news from the deal. earlier in the week, governor jerry brown, on his own trade mission to beijung, announced a 1.5 billion deal with a different chinese outfit to build a big residential project in oakland. >> closed door meetings have paid off for for a democratic and four republican senators working on immigration reform. according to lawmakers and staff, the at 8 to have reached agreement that will remake the nation's immigration laws. a senate aide says, that the legislation would only allow people in the country prior to the december 31st, 2011, to apply for legal status and ultimately citizenship. it also would require applicants to document that they have a clean criminal re

lennar is not coca-cola. toll brothers got down to 30 and change yesterday. these stocks are still down. toll is still down gigantically. i don't trust this market. i don't trust it. >> follow through on citigroup and by far the best performer. >> that was a big -- >> that was dynamite whereas goldman sachs is actually down. not much, down about a half of a percent and part of this, we said roe, tangible book goes up by 3% and the quality of the earnings is not there -- shally i get to that in the last page. >> and the key is always the last quarter where they can fully adjust for what the year is going to be. city was just a very, very exciting quarter even though they used a macro comment that was weak. citi is going to become a very lean, international company. >> can he have that kind of an influence and that short? >> is that a short amount of time? >> i think pandit gave him a good hand and he's improved a hand. if it's poker you have a couple of kings and an ace. we three kings, my friend. >> a lot of people say capital is virtually free. wow have a bo

this department did this with lennar and partial a at the san francisco shipyard as well as the recent approved wellness center [speaker not understood] in san francisco. all this was done without giving consideration to seniors, children, and more important, quality of life issues. and as i mentioned -- i didn't mention it before, but i'd like to say this process should be your process, not an individual supervisor. you need to look at everything that is going on and what has happened and compile it and it becomes city planning's process for all of us, not a wiener project -- process, not a kim process. let's get things done for the citizens of san francisco. thank you so very much and you all have a blessed day. >> thank you. >>> good afternoon, commissioners. eric brooks representing san francisco green party, the local grassroots organization, our city, and here as the coordinator of the c-e-q-a community improvement team. first of all, stand in strong support of supervisor kim's excellent legislation, very well thought out. partly the reason that we feel it's well thought out is w

. >> a deal between of lennar corp.heir chinese government entities to construct homes at hunters point and high-rises on treasure island has collapsed. the 1.7 million deal fell apart largely over the man by the chinese for more control over the developments that the letter was willing to give. mayor ed lee was albany hear good news from this deal. lee has just come back from a week- long trip to china. earlier in the week, garrett governor jerry brown on his own trade mission to beijing announced a 1.5 billion deal with a different chinese out the to build a big residents of project in oakland. >> closed door meetings have paid off for four democratic and four republican senators working on immigration reform. according to lawmakers and staff, that eight had reached agreement that will remake the nation's immigration laws. a senate aide says the legislation would only allow people in the country prior to december 31, 2011 to apply for legal status and ultimately citizenship. it would also require applicants to documen

when you look at some components, i believe the momentum is broken when you look at toll, lennar, and polty. and some of these retailers and material guys that supply home-building or the industry of home-building, they haven't broken yet. home depots and lowe's, got back in today, up about 3%. i think you want to find divergences in sectors that discount a lot of good news. >> we talked about netflix, said it looks broken for the short term. yesterday it traded down to 159. nice day today. interesting reversal yesterday. i think the move to the upside is still intact. i think this was a flush you were waiting for. >> we've seen this movie before. >> whoo! >> we should stop right now. >> all right, let's talk apple here because despite the big surge some in some of the tech names, apple still trading water. they report earnings two weeks from today. what can you expect? will there be a big cap move? walter, great to have you with us. you upgraded the stock on march 14. are you surprised the stock hasn't done much of anything at this point and that there has been no capital allocation

horton, lennar, among the worst performers. a bad day for homebuilders. liz: did you see airline stocks? they weren't flying so high today. the group fell following a downgrade of united continental from evercore partners because of macroeconomic concerns. united, spirit, saw the biggest drop along with jetblue and republic. "after the bell" starts right now. david: don't want to be so negative. there is some positive news, including, get this, the yield's final frontier. a new market has emerged offering income-hungry investor payouts of 8%. even 11 or 12%. we'll tell you about this new market, what it is and specifics about how to play i. you want to stay tuned. liz: plus a brother battle royale. two twin investment managers duke it out on the economy, markets and europe. both have been very successful in their businesses. is it time to hunker down or go all-in? this is one street fight you don't want to miss. david: first we'll tell you what drove the markets today with today's data download. stocks falling from all-time highs to start the second quart

i would rather be caterpillar than lennar in this market.sed today, we had a 7% overall gain, right, of that, we had a 31% increase in multifamily and a 5% decrease in multi family. it made up 40% instead this time. >> if you look at that, i heard that a lot today. if you go back, the are statement on the single family homes was very high, running at very high levels, obviously, down 21% inventory, prices are running up 10%, you have birthrates up 2% and household formation is going up. how do you fight all that at the same time with one data point? >> it's not just one data point. if we look across the country at where housing starts were, they were decreasing in the northeast, we know they're increasing in the midwest and the south and small increase in the west. if we look at that and job numbers and the fact that from not only anecdotal evidence but also data points, we see we have record low interest rates and low inventory out there. and we know that consumers are waiting on the sidelines looking for a better price before they put thei

we actually bought lennar today. len. but at the same time, we went in and bought the puts. we bought the 37, paid 40 cents for them. so we're defining our downside at less than 5% in the event that things get really bad. i don't see it yet. you look at the s&p today. we're down 11 handles. we're still holding all of our key support levels. the trend in the market is still up. so, yes, you could get a pullback. but i'm looking at -- go back to phillips 66 for a second. i'm looking at buying after the pullback happened there. on the homebuilders, you're in the names, you stay long, but you're defining your downside. >> yeah, grasso telling us from the floor of the stock exchange, 1538. we'll see you soon, mike. thanks for calling in. >>> gasoline is getting gassed today, speaking of phillips 66. a two-month low. let's go to futures and the host jackie deangeles. jackie? >> here's what's interesting about this. why gasoline has dropped over 5% in a month, crude oil has added 5%. anthony, you're down at the nymx. why have we seen this divergence between crude and gas? >> it's a

let's take a look at lennar. it is down about 2.5%.ou get into existing home sales which are less than analysts had expected. we did get one positive. right now, you can be it is tough to bounce back. stuart: thank you very much, indeed. i want to turn to charles now for a moment. his economy going through what may be called a spring swirled? are we losing ground? this housing development is more news to that effect. where do you stand on this? charles: it is a that the audience should be aware of. beginning right around this particular date. last year we had a decided swoon . the stock market reaction has been a lot more negative than the actual fundamental news, the actual economic data. gdp was not that bad. all of that stuff did not really justified, necessarily the swoon. growth at 3%. now we are looking at this quarter. certainly glad into percent. we will slow down. to what degree will that be represented remains to be seen. it has been harsh. the last three aprils, right around this date, the market began serious pullback. stua

billion deal so far largely over demand by the chinese for more control over the developments than lennar was willing to give. mayor ed lee was hoping to hear good news from the deal. lee has just come back from a week- long trip to china. earlier in the week, governor jerry brown, on his trade mission to beijing, announced a $1.5 billion deal with the different chinese outfits to build a big residents to project an oakland will be back with more on the kron 4 morning news. >> we're back at 515. three people have been killed and a powerful spring storm that moved through the south, midwest and the carolinas. marched from louisiana to georgia yesterday causing major damage to parts of mississippi, where a twister was spotted and one person was killed. one woman in alabama had a mere moments to get to safety when a tornado hit. >> i went home to take a quick bat and i heard the siren going off. that is what i jumped in my clothes and came out the house quickly. >> tennessee authorities declared a state of emergency after the tornado was reported in monroe county in the southeastern part of

we're seeing homebuilders, lennar knocking it out of the park when they reported. expecting d.r.orton. pulte homes also doing very good. textiles and apparel retailers are getting it. they're expecting to up double-digits in the first quarter. expecting industries projections to be driving. adam: going forward tax returns coming in. refunds come in. people might spend money. what sectors will live up to the underperformance? who will be a dog? >> looking at energy. they're down about 2 into 7%. energy costs are very high it is year-over-year comparison. difficult comparisons for last year. for instance a barrel of oil on average was $95 in the first quarter of this year, versus 103 last year. that is why the decline. adam: christine short, thank you very much for joining us on fbn. we'll be watching. >> thanks very much for having me. lori: we had a lot of fun on april fool's edition of markets now. believe it or not this is the real list of weirdest state taxes you may never have heard of. get this, new york charges 8 cents on altered bagels. adam: i smear. >> kansas has a sales

it's very har for that one to repeat but if you take a look at lennar and horton, some of the cohortsnd of marking time a bit before it reaction sell rates. i want to buy pulte. pulte to me feels like now it is the unloved housing plight, it goes to 22 in the next few weeks. >> we should probably look at a couple other food stocks. safeway is off about 8%. i haven't work my way through some of the headlines there but we all know about some of the concerns regarding the grocery chains. >> look. i think black hawk is a great deal. i'm a believer in these stocks. kroger. watch whole foods. they'd been in a big funk from '84 $84 to $87. i still like the group, kroger's the leader. >> jim, what are you hearing from villanova? you did the show last night. talk about how various demographics see the market right now, see investing. any lessons that you got last night and that you think you'll get today? >> i think that youth rules. when we think about youth, a lot of people feel that way -- some of the things we'll talk about tonight are hopium. no, i think when you are youthful you can take