the resorts in macau are world class comparable to las vegas. macau has took off. pansy: we are talking about the next generation of people from china have become more affluent. betty: siblings lawrence and pansy ho have become leaders in the macau casino industry thanks to their father, stanley ho. brother and sister have a combined net worth of $7 billion. for the last decade, they have met some stiff examination, from a las vegas billionaire who's known for constantly betting against the odds. sheldon: they vastly predicted i wouldn't even open. they didn't believe somebody else could do something better than they could. betty: they underestimated you. sheldon: they grossly underestimated me. betty: sheldon adelson has a net worth of $35 billion. much of that wealth made on his macau casinos. the race for macau pits billionaire against billionaire. all of whom are vying for the attention of the 1.3 billion chinese to the north. macau is an 11-square mile enclave on the southern coast of mainland china. for over four centuries, it was under portuguese rule. and t

the resorts in macau are world class comparable to las vegas. macau has took off.re talking aboue

bad news in macau could be good news for another area of the market. we'll tell you how to play it coming up. david einhorn's micron trade. we'll break down what it means for the hedge fund giant's portfolio coming up. >>> let's start with apple. thought we were going to break there. i like that. april has been a big month for the company in the past few years. in 2012, apple launched its dividend. last year, in april, apple increased its dividend again. plus, the 7 for 1 stock split. citigroup kicked off this april, reiterating a buy rating. joining us is jim suva. good to see you again. >> great to see you again, scott. we think it's going to be an exciting month for april coming up in the month of april. >> all right. what are they going to do? >> first of all, earnings are on the 27th. as people start to do their due diligence in field trips, we think they're going to take a look at the due diligence and see that the iphone 6 is selling great. in fact, the higher configurations of the 128 gig and 64 gig are selling so much better. big margin improv

they get 70% of their sales from macau. you know, they're gone. they left. they're not there anymore, okay. the stock's been cut in half in the last year and you've seen new account openings in the stock market ramp. they've gone parabolic. >> so, you think billionaires are investing rather than gambling, that's your thesis? >> they're not gambling in las vegas, either. maybe they've stopped gambling altogether and know the stock market's a beautiful gamble. >> and the final fact of course is price. i was a summer intern as a kid in a brokerage firm and an old man said to me once, i've never bought a stock in a down trend in my life and that's one of the best pieces of advice you could take. if a stock is going down, there's something wrong with it. there's no reason to buy wynn or mgm or lvs. just stay away. >> the other thing that's coming out, there's this anticorruption crackdown, but there's also a smoking ban that's going to go into effect at the end of the year. and interesting -- i'm serious! analysts are factoring that in as a pressure because a lot

so wynn gets 70% of their sales from macau. macau is a just flat out disaster but that was known.the magnitude of the move is surprising. i will tell you this, though, the stock is going back to 100. and just like it overshot on the upside in 2014 to $250, it has the very strong likelihood to do so on the down side here. so i think if you were a bottom fisher and you think the thing is really oversold, a lot of short interest, i think you use a hard 100 stop to the down side if you take a shot. >> with the dividend coming prior, the dividend yield had been almost 5% and some analysts were saying maybe a dividend cut will be coming so that combined with this big flush to the down side, that could be -- >> obviously it's the one being killed the most. las vegas is down 9% year to date. the investors -- the investment community have picked their winner and it's mgm because of everything dan said, you hold that will up to the mirror, you have 70% coming from macau for wynn, the reverse, only 30% coming from macau from mgm. so if you want to be in this space, you want to be safer, m mg

we say it many time but the scale of macau is hard to appreciate. something that's multiples larger than las vegas and where those revenues are coming from, we now recognize it's pretty sketchy. if they crack down on this how far and how fast that could go. who will get hit hardest in that kind of a cutback? igoing to be the high roller. that's where they make their money. >> looks like the high rollers are investing in the shanghai kp composite. look at wynn they 2k3w0e79% of their sales from macau. they left. the stock has been cut in half. you've seen new account openings in the stock market just ramp. >> so billionaires are investing rather than gambling. >> they are not gambling in las vegas. so maybe they stopped gambling all together. >> and final factor is price. i was a summer intern as a kid in a brokerage firm. i never bought a stock in a downturn. if a stock is going down there's something wrong with it. no reason to buy mgm or wynn. stay away. >> there's this anti-corruption and a smoking ban going into effect the end of the year. i'm s

>> it's been so beaten up, but as jane said, if you're reliant on 70% of your earnings for macau, then have to look elsewhere. if he thinks it will be weak across the board, investors don't want to hear the reason. they immediately sell the stock. las vegas, same type of setup there. more revenue, but same type of setup. mgm is up 4% year to date. you want to avoid macau, you go to mgm. >> in terms of dividend, people wanted them to cut the dividend and this is something that is out of the way. >> this is really a tough one because there is a lot of analysts that said they thought a $6 dividend was safe and they thought that would preserve something. even though he's not being immature, so ultimately this means that he is doing the right thingdividend h macau number were weak. i think stabilization is happening. some of the part means it's $145 company, so i will say this, the chart looked fantastic before these numbers. it was putting in at very strong base between 125, 130, broke through all that, takes a look at the chart, got to pick your spots, but wynn after these numbers, that i

it's a blow for macau as well.han necessarily the actual demand drying it up there's a barrier put across these customers coming to these kind of events. >> even before we saw the results of the chinese government anti-graph measures we've seen a slight change in trend for demand with less con speck wous wealth. customers looking at products, not being quite so flashy or ostentatious. it's something that we've noticed over the last couple of careers. careers. >> you would imagine that the market corrupts watches or jewelry, this has been taken out, but may go beyond that. just ordinary spending. actually being hit because of these, the clampdown on corruption. >> it could well be. i mean we're seeing to the chinese consumer has learned a lot in the last ten years about how to get the best deal. fewer mainland chinese shoppers are crossing the border into hong kong, which has had a very big effect on the hong kong watch trade, which is -- and that's the world's biggest market for swiss watches. but the chinese consu

instead of gambling in macau, they are gambling in the stock market.you want me to say? matt: aren't we looking at eight are 10 year highs? scarlet: there have been more than a million new accounts that have been opening. property is not the place they will put it right now. >> they might as well by domestic shares. scarlet: that is true, but we will see how long that lasts. let's move on to put narrow. revenue was $2 million shy of what analyst forecasts -- move on to panera. the smallest sales increase in the first quarter since 2009 since the financial crisis. comparable sales of 1.5% missing analyst estimates. now they want to build to sell back some of those bakeries to franchisees. the big story of the afternoon is twitter. shares up by almost 2% in after-hours trading after a late lunch at to get from $51 to as low as $38 before the stock closed at $42. first quarter revenue missed analyst estimates and the headline is that twitter also cut its full-year outlook, its revenue forecast, a sign that it's not moving in the direction investors had th

steve wynn said there is fun to be had at macau even though it is going for a tough time.put at overweight by barclays. steve told charlie it is worth the trip. steve: people come to have fun and excitement. it has an intrinsic excitement. you get on an airplane as i do want someone and fly 6000 miles to macau a get off a you are home again. mcdonald's, ralph lauren stores colonel sanders. betty: wynn's ex-wife is getting a boost to her bid to stay on the board. a judge is shielded general motors from billions of dollars from claims. they cannot be sued for lawsuits before the automator -- automaker entered bankruptcy. some said they do not get a chance to sue because they covered up defects. nearly a ton of baby food is being recalled because of pieces of broken glass. beach and not issued the -- beechnut issued the recall. one slight injury was reported. those era top headlines. -- those are your top headlines. coming up -- we will speak to britain's previous foreign minister. today's bloomberg big number is 62 million. global subscribers to netflix. thus streaming servi

casinos are falling on the continued weakness in macau gaming.il gaming in macau probably fell as much as 42% compared to the prior estimate of a 40% drop. and there may be a visitation cap on chinese visitors as well. that would be a headwind for the longer-term. avon products staging its biggest rally since january. it is now at a one-month high after reports come including one from bloomberg, that it may sell its north american operations along with exploring other strategic options for the struggling business. one analyst estimates avon could be worth $6 billion in a takeover. right now, it is just shy of $3.9 billion. matt: i wonder if they will have an investment banker race that sale or if they will just go door-to-door and offer it. . [laughter] scarlet: or do what warren buffett did and go to jpmorgan. matt: door-to-door, that is how avon does it. thanks very much for that. the imf lowering its outlook for canada's economic growth today. the country has been heard by the drop in oil prices. one of its largest exports obviously. earlier t

wrong again in yemen seizing control over a seaport and oil terminal in the southern yemeni city of macau, the same city where al qaeda freed as many as 300 prisoners from jail earlier this month. and vladimir putin today taking questions from ordinary citizens. the bulk of his hour-long showed devoted to the economy went vladimir putin insisting that russia will survive an economic crisis deepened by tensions and lower oil prices he slammed the united states saying that they don't need allies. he then denied that there were russian troops in eastern ukraine despite strong evidence to the contrary and vladimir putin depending the sale of sophisticated antiaircraft missiles to iran claiming that they have shown what they called a great degree of flexibility and compromise with nuclear talks of six world powers. and for such a communist totalitarian, he is being pretty open with the press. he has held at least 20 news conferences where he took questions from april a year ago but by comparison, president obama has participated in 21 conferences over the same timeframe. most leaders who claim

keep an eye on those macau gaming stocks. what is happening in the hang seng enterprises index. these are the chinese companies listed in hong kong. we see huge investor interest in these stocks, because they are more of a bargain here than they are in china. that's why we have seen this rush to get into hong kong shares. right now, we see of 1.2% advance. you do see some selling pressure. this is not all about gains at the moment. consumer services, utilities, telecoms. the real action is in industrial socks and financials. let's look at some of the industrials that are moving. shares,tion related perhaps on optimism that the property market may be revived by the chinese government. railway stocks also among the chief movers. rishaad: getting trade numbers out of china. christine is in beijing. are seeing exports dropped unexpectedly. exports for march have dropped 14.6%. imports fell 12.3%. again, estimates were for a fall of 11.3%. worse than expected overall for march. the trade balance was 18.6 billion yuan. we are seein

they're getting a lift because the situation in macau is not as bad as feared. two thirds of their revenue from the chinese city. for wynn 70%. it will take drop in april. still declining, just not as much as anticipated. lions gate's chairman reducing his stake. the stock is down 6% under pressure. if you come inside the bloomberg terminal, you can see he is the biggest shareholder of the company. they just sold 10 million shares. he still has a 41.2 million share stake in the company. that's equivalent to 30% of the company overall. capital group is the second-biggest with a 12% stake. benjamin says the secondary offering is negative, not because of the size of the shares sold but because it signals and inability to sell to the strategic buyer. they're having to get rid of it through the open market. that is something people are looking at. matt: thanks very much for that. detroit may be where cars are made, but manhattan is becoming the town to show them off. cadillac and lincoln introduced their brand-new look recent sedan at the new york international auto

. -- on macau for the revenues. we know china's anticorruption campaign has meant a lot.hales or sharks that a big gamblers? alix: we don't know. scarlet: big gamblers are not showing up at the tables quite as much as they used to. that is affecting bottom line for all of these casinos. adjusted earnings per share misting -- missing the consensus. alix: thank you. we will be coming back to you on facebook and just a little bit. thank you to lisa abramowicz and carl riccadonna joining us. we are minutes away from ebay's earnings as well. we will be right back. ♪ alix: we are watching those earnings. let's get right to qualcomm. scarlet fu has those numbers. what do you have for us? scarlet: the important thing is qualcomm has reduced its outlook for the semi conductor business for the second half of this year. the reason why is for a decline in share of customers. earlier this month we had reports that the samsung galaxy s six did not use qualcomm chips. instead they use samsung's own chips. that may be a precursor of samsung using its own proprietary chips. there also som

stephanie: the issue they face is the crackdown in macau.ld a lane win's presence solve that problem? bruce: she was identifying the right people on the board. ultimately, in this instance the board said, we're going to find new people. that is where other institutions said we will give some of these directors another year to go out and do that. that is what we see institutional investors want. a large institutions are saying we want investors -- board representatives who are going to represent the diverse interests that we feel companies need. whether it is gender or diversity of other issues but also bringing in the skill set. stephanie: let's talk about the skill set. i would love to see more women on corporate boards. more women running fortune 500 companies. the situation we face is not enough women have had significant jobs in corporate america that would position them to have the experience or the gravitas to take a board seat. for saying we need to have more diverse or boards, aren't we running the risk that we are putting people the

it leaves the government of macau trying to get more international tourists while limiting congestiony in -- mainland chinese visitors. there could be a visitation cap according to wells fargo. stephanie: thank you for giving us the latest. it's a deal that could create the biggest maker of wireless network equipment. nokia is in advanced discussions to buy a french company. a deal could value $13 billion. there is an agreement that bears no certainty that it could be reached. i want to bring in manual. i am looking at shares. they are down. guest: that's a good question. it's a big deal for no key a -- gnocchi a -- nokia. they are competing with ericsson. it's very good deal for them. investors like. that would mean a tremendous combination for the company. stephanie: why now? guest: the timing we have is very historic and recognized companies. they have struggled in the past few years. nokia and alcatel, the timing is perfect. at the same time, we have two companies that are struggling. now they come together and come to the conclusion that it's the perfect time for them to combine.

it has seen trouble in macau.so you tend to see a drop off in activity but when you see a drop like this, what are we seeing happen? jared: an encounter -- a counter intuitive result. on the downgrades you're seeing this may be capitulation on the equity analyst. options volume is twice the dailies. options traders are taking this seriously. it is on the bearish side. julie: they think it is still going to go down? thanks so much. "money clip" is next. ♪ pimm: welcome to "money clip" were we bring the best stories the best interviews, and the best video in business news. investor jeff good length turns short on german bunds. in tech, twitter calls short. shares tumble. in politics, a clinton cash. another headline raises questions for the clinton foundation. and the latest innova

we've covered the macau casinos quite a lot.t better. and there's a risk at the dividend dividend. >> the second stock here melissa is sandisk. it's getting downgraded left right and center. and also by credit squeeze. it was downgraded to sell. the price tag was cut to 60 bucks from 80 bucks. it's scently lycurrently sitting there at 66 66.60. >> they had taken down to revenue guidance just about a month ago. this stock has been in a world of hurt since then. raymond james pounding the table ahead of them due on april 28th. the analyst saying the intraquarter data -- but raymond james is sticking with its market rating because shares are priced at a premium to its growth peers. >> this is hersheys. the stock was removed from u.s. focus list with analysts noting the week environment. however, the buy rating remains the same. the price tag in here is $120. so sitting there at 99 and change. there's still a fair amount of upside to get to that price target. also, city was seeing some reduced growth at the moment. but they see thos

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what is the logic requiring this of those forces questioned macau have leaders from the past thought about the relationship between nuclear weapons and national security? how does it fit in today with our broader for policy program? i cannot think of many better people to answer these questions than the two gentleman seated with us today. professor francis gavin, nuclear security policy at m.i.t. before going to m.i.t., he was conflict professor of international affairs and director of the strauss center for international security and law at the university of texas. he writes on diplomatic history foreign policy and nuclear weapons. his latest book is called -- is on history and strategy in america' is atomic age. to his right is general robert keeler who was recently commander of the united states strategic command. he was directly responsible for the secretary of defense and the presidents and plans and operations of u.s. forces conducting global strategic's, nuclear alerts, global strikes and associated operations per at after leaving the air force and leaving strategic command, h