morgan brennan has the details. morgan?melissa, the fresh market moving higher in after hours trading. earnings that beat consensus analyst estimates. revenue in below expectations. fresh market announcing it will shudder operations in california to focus on other higher growth opportunities. that's sending shares of the stock up about 3% right now in after hours. back over to you. >> thank you, morgan. i would think that california would be a great business -- >> it's a fresh state. it's got the fresh prince of bel-air, too, for that matter. anyway, if you look at the stock, though, what's interesting the reaction in the posterin post earnings is the stock was trapped between $37 and $41. growing margins when the company has been making investments and that's what the street looks like. >> whole foods or hane? >> hane. inwin has been on the show a dozen times. every time he's on, we have to stay, buy the stock. continues to make-talk highs. if you play the game with me, hane. >>> biotech segment, shock therapy. shares of b

and as morgan brennan reports from belleview, ohio companies are making big investments to fix th. >> reporter: they call it the belleview symphony. and it's only getting louder. >> we are currently processing 1800 cars a day and that number grows to 28 rkds 30030 cars a day. >> alleviates congestion. >> reporter: $165 million into doubling capacity where the train car filled with coal grain, even corn syrup comes through each day to be sorted and sent out to other parts of north america. but as more goods move by rail, companies struggled with unprecedented congestion. >> it was a major concern last year. we did not provide the level of service that our customers have come to expect. that was for a couple of reasons. >> reporter: reasons like the fact that freight volumes are returning to prerecession levels though the mix of goods has changed with more crude oil, autos on the tracks. last year congestion weighed on service times and operating costs as railroads struggled to keep up with the demand, especially a traffic cho point like chicago. to combat the problem, investments like

morgan brennan has more from kansas city missouri. >> reporter: this is intermodal. and so is this and these are containers used to ship anything you'd expect to find on a walmart shelf. as the name suggests, intermodal refers to freight that's used several modes of transport. ocean rider. the concept has been around for decades but it's really taken off since the downturn becoming the fastest growing business within freight transport. so how important is intermodal to kansas city? >> intermodal is very important to kansas city. >> reporter: mike is in the port authority, one of the largest transportation hubs in the country. >> when we look at the market anal lisysis analysis the industry analysis we know intermodal is the growth for freight. >> reporter: it's because of accessibility. >> the fact that kansas city is centrally located with the infrastructure rail and highway, we can reach 85% of the country and all of the country on 2 days with ecommerce deliveries. >> reporter: across the country, companies playing out their infrastructure to handle more intermodal

for "nightly business report," i'm morgan brennan in cushing, oklahoma. >>> still ahead, what gaming companies are doing to find real money in a virtual reality >>> video game retailer erer game stop announcing a 9% increase to their dividend. giving it a yield at 3.3%. shares of game stop rose about 3.5% in today's trading. >>> the multibillion dollar gaming industry is converging in san francisco where one of the largest conferences taking place. the largest companies expected to attend and as julia boorstin tells us those companies are battling for real money in an increasingly virtual world. >> reporter: virtual reality is front and center here at the game developers conference and also in barcelona where mark zuckerberg talked on stage over obamacare o oculus's potential. >> that's future technology in that it's not a mainstream consumer thing today. but i believe that kind of continues this trajectory going from text to photos to videos to fully immersive scenes that you can be a part of. >> to continue that trajectory occulus' challenge here is to create games on a platform fr

morgan brennan in curbing.ate kelly following chesapeake's ceo aubrey mcclendon. >> considered one of the industry best asset pickers with one of its appetites for leverage as well and hoping to be one of the lucky few who can continue raising mun at a time of sub50 oil and $3 gas. since starting his company in 2013 he has raised $15 billion from big names like energy and mineral group and blackstone's capital unit and now at it again with creative financing ideas in mind including buying assets in california, $200 million special purpose financing vehicle or some sort of permanent capital to be funded perhaps by retail investors. but in an indication of the market's bonds tied to aep projects trading for the most part poorly at the moment with prices ranging from 60 cents on the dollar to mid-80s in better cases. a recent lawsuit filed against aep by chesapeake which accuses mcclendon of stealing trade secrets a charge he denies, has also created a snag. among other things, scott, it prompted citigroup to back

for "nightly business report," i'm morgan brennan. >> issued loans in the oil sector face millions of dollars in pot losses. in a report published by "the wall street journal," big banks like citi or goldman sachs or ubs thought they could sell the loans to investors but haven't been able to due to the oil prices over the last few months. >>> the main focus was greece and precarious financial situation. julia chatterley reports from the eu summit. >> reporter: upcoming into the eu leader in brussels elects and germany's chancellor, angela merck l, could have a solution for gree repayment in salary bills at the end of this month and beyond. those who hoped were dealt a swift blow earlier on. angela merkel said there will be no solution. it comes down to the individual financial ministers to reach a deal. the second blow came in the form of reports suggesting the european central bank was going to become even more tough on the greek banks. a trigger for stressing the economy. we thought the reaction in the greek debt market yield significantly higher over the course of the session. both

morgan brennan has more. >> reporter: 2015 has been rough on transport stocks. the dow jones transportation average is down more than 4% so far this year. vastly underperforming the broader stock market. today it tested a key technical level briefly falling below 200 day moving average. experts are watching the group closely since transports are correlated with economic growth. >> i think it's been a fear of slower global growth than what people thought and a day like today when you have oil rally, the transports it's hard for them to act positively in an environment like that. >> reporter: the reason rallying crude is pressuring these stocks which tend to trade opposite oil on the presumption that lower fuel means higher profits but a bigger issue may be beginning to take root as well. a slowdown in freight volumes across different modes of transports. this week, the american trucking association reported that trucking fell 3% in february from the month prior. and according to weekly numbers from the association of american railroads, car load traffic has been

morgan brennan live in morning at world headquarters with all the details, garnood morning, morgan. >> reporter: good morning, sam. add uber to the growing list. popular ride handling app has the latest of hack attacks. security breach occurred last spring, but wasn't realized until september. close to 50,000 driver's names and license numbers may have been stolen. >>> and a record month for stocks. february was the best month for the dow in over two years, closing out at 18,132, but big focus this week is going to be on the nasdaq. now it came within 11 points of touching the 5,000 mark on friday before a late slide into the close. investors will be watching to see if it can get back to levels not seen since march of 2000. currently pointing to a positive open. >>> tech crunch is reporting that ab and b is looking to raise another round of fund, worth $1 billion. this will value the company at $20 billion. just to put that in perspective, that's larger than leading hotel companies. sam, back to you. >> all right, air b and b, ubiquitous. >>> another week, another looming homeland sec

morgan brennan takes a look at why the sector is coming under. >> reporter: american steel companies have been on the front line of the so-called currency wars. starting with ak steel. shares of the ohio based steel manufacturer tumble today after the company warned of a first quarter loss as shipments fell 14%. why? a flood of steel imports. in january, imports were 33% higher than a year ago according to the american iron and steel institute and finished steel products from south korea, turkey japan, and brazil grew the most. analysts say imports soar to record levels adding to a supply glut in the domestic market. >> if we look at finished steel imports as a percentage of supply last year, that number was about 28%. that number in 2013 was about 23% which is normal. we look at a range of 20% to 25% as something we typically would see because we are still short in this country but what's alarming year-to-date that percentage has gone to 30% to 35%. a thousand basis stronger gain. >> reporter: made imports look cheaper in turn pushing u.s. prices lower with the midwestern hot coal o

but as morgan brennan tells us the report may be better than it looks. >> reporter: santa was good to fedex. the parcel carrier's earnings for the peak holiday season soared more than 50%. trumping analysts' expectations. mild weather in ongoing restructuring in the air express segment contributed to the strong results but analysts said the biggest takeaway is package volumes continued to grow. >> ecommerce, worldwide as far as domestic air freight started to grow. a very positive outlook on the overall economy. >> reporter: 4% more packages via express shipping. grond volumes jumped 7%. this was likely the best christmas peak ever in terms of service for customers. but it wasn't all good news for the shipping giant. revenue fell short of expectations and fuel surcharges for customer were lower and the strong dollar created a head wind. sending shares lower, tightened full year guidance to a forecast that fell short of wall street expectations. still, analysts remain bullish on the stocks. especially in light of strong profit growth. >> we continue to be positive about fedex despite t

sara eisen of the nyc, morgan brennan on the stocks impacted by that dollar.a, take it away. >> mandy, a familiar refrain from the u.s. treasury secretary. treasury secretary jack lieu and ones before him say in miami the strong dollar is "a good thing." but is it really? a lot of corporate america does not think so tiffany and nike most recently showing how it cut into corporate profits. neither does janet yellen who weighed in saying the dollar is holding export growth and pressure aring inflation. wipe do the fed and treasury seem to be saying different things about the u.s. dollar? a strategist says l iu, his comments likely tied to the dollar from the fed and nor defract yellen's comments on the currency. meaning, even though the treasury department actually controllings dollar policy the fed has enough power to talk the dollar down. so if yellen doesn't like the surge, traders should absolutely take note and that's pretty much the story of the week. hsbc certainly did. they became the first major bank to say the dollar's rally is ending that the big poli

morgan brennan has more. >> reporter: shares of kansas city southern went off the tracks after the company cut earnings guidance for 2015. the culprit? energy. as lower oil and natural gas prices weigh on results in a analysts say the announcement confirms what investors have worried about for months that the downturn in energy would pressure railroad earnings. the reason other rail stocks fell. >> there probably are some uncertainties where the growth is going to come from this year from a volume perspective, particularly with some of the weakness in the energy space. i think there's a view that maybe cap x might get cut a bit outside the energy space. i think that's part of the reason you're seeing a bit of a disruption in the early going of 2015. >> reporter: kansas city southern now expects crude oil shipments to grow more slowly this year and revenue from frac sand and metal pipes used in onshore drilling to weigh on first quarter results, due to a, quote, significant decline in new drilling operations in the lower fuel surcharges which have helped lower expenses are also cutting into

morgan brennan, thanks for that. a galvanizing figure both loved and criticized by many. aubry has raised an impressive $15 billion for the new venture, american energy partners since leaving the drilling company he co-founded which, of course was chesapeake in 2013. it's a real question whether he can generate any more right now. he is trying. in recent weeks i'm told mcclendon has met with both private equity investors and bank underwriters to discuss a myriad financing options. purchasing assets in california a place he is not currently drilling, putting together a blank check, special purchase financing vehicle or even going to the retail market to raise a pool per minute capital. this i'm told could be moving forward, but citigroup recently dropped out. the downturn in oil and gas prices and a troubling lawsuit from chesapeake which is suing mcclendon for allegedly stealing trade secrets, a charge he denies isn't helping matters. bonds issued by aep to fund the projects it has in other shale formations are tradi

our morgan brennan joins us with a preview of what we can expect. and bill. while the fed's stress tests are supposed to highlight how well a bank's balance sheet could handle another crisis and how much extra cushion they'd have to pay out to shareholders. it's not pass/fail. so some banks learn that the hard way and are battening down the hatches after missteps. citigroup's plan was rejected outright. the bank spending all of 2014 trying to fix what the fed called, quote, qualitative issues. the ceo calling it priority one, two, and three, saying they spent $180 million on it alone. there's a spotlight on citigroup to pass this year. the ceo says he should go if the bank fails again. bank of america had to scrap a buyback plan retroactively after discovering an error in its al collations. ubs analyst brennan hawking downgraded bac last week cautioning previous missteps and capital planning make him, quote, nervous about this year. nomura says bank of america is most exposed to regulatory risk. and finally, jpmorgan the largest bank of the group, n

. >>> let's go to morgan brennan with the cnbc market wrap. >> the dow falling 279 points the s&p 500nd nasdaq losing 55 points today. that puts all the indexes in red for the third month so far. that's it from cnbc. i don't like asking for help. i took tylenol but i had to take six pills to get through the day. so my daughter brought over some aleve. it's just two pills, all day! and now, i'm back! aleve. two pills. all day strong, all day long. and now introducing aleve pm for a better am. [ male announcer ] legalzoom has helped start over 1 million businesses. if you have a business idea, we have a personalized legal solution that's right for you. with easy step-by-step guidance, we're here to help you turn your dream into a reality. start your business today with legalzoom. (mom) when our little girl was born we got a subaru. it's where she said her first word. (little girl) no! saw her first day of school. (little girl) bye bye! made a best friend forever. the back seat of my subaru is where she grew up. what? (announcer) the 2015 subaru forester (girl) what? (announcer) built to

morgan brennan has today's cnbc market wrap. >> slight losses across all the major indices.have the dow falling 11 points, the s&p 500 shedding 3, and the nasdaq falling 15. introducing... a pm pain reliever that dares to work all the way until... the am. new aleve pm the only one to combine a safe sleep aid plus the 12 hour strength of aleve. ♪ building aircraft, the likes of which the world has never seen. this is what we do. ♪ that's the value of performance. northrop grumman. >>> the u.n.'s top adviser on yemen is warning the country is moving toward the edge of civil war. the warning comes after the u.s. pulled out its special forces this weekend. a group claiming to be the yemeni branch of isis claimed responsibility for suicide bombings targeting mosques on friday killing more than 130 people. isis has posted an online hit list of 100 u.s. military service members. thank you for joining me. tell me about this alleged isis hit list. how seriously should we take this? >> there's two ways to look at it. u.s. officials are looking at it from the perspective was there any

morgan brennan has the details. >> there's a change to the s&p 500.rlines will replace allergan because activist is acquiring allergan. american airlines coming in to the s&p 500 after the close march 20th. looking at those shares they are up 4% for american airlines. >> thank you. american airlines in general had bean great trade this year not so much. where do you see the trade? >> we had that debate i don't know, a couple of months ago. the epic double. >> it was lined up just like this. >> still talking about this. >> they vacillated ever since. jetblue to me continues to stand out. i want to say jetblue made a new high today and probably a five or six year high. >> the three biggies have seen nothing but positive momentum coming towards them in terms of options. the moves have been very slight dwreer tate not a very impressive run. american airlines huge upside calls. very near term. >> coming up deja vu in the pc space. ubs cutting estimates on intel. the analysts behind that call is next. later it's the one solar stock underperforming its peers

. >> morgan brennan, thank you you. >>> starting today, you can try out new restaurants in prince george's county. restaurant week starts today with many restaurants at national harbor taking part. this is the second annual restaurant week in prince george's county with special pricing and menus. it's your chance to try something new, maybe go for that splurge restaurant. restaurant week runs until sunday. >>> samsung unveiled hits next smartphone one it hopes will give apple the iphone a run for its money. take a look at the new galaxy s-6. it feature as light weight metal casing an gorilla glass. it has built in wireless charging. the new phone will come in five colors emerald, gold, blue, what andnd black and white. it will be released april 10. >>> boston really can't catch a break from the wintry weather. another round of snow slamming new england right now. it could push boston over its 20-year-old record for the season. boston already has 102 inches of snow this year. up to 6 inches could fall today. and that could break the 1995/96 record of 107.6 inches in boston. >>> snow and fre

morgan brennan go enjoe that barbecue. coming up, are flip phones really making a comeback?s that. point, counter point. plus the latest numbers. wall street bonuses are coming out. that's coming to you when "power lunch" roll on. 80% of the poor in africa are rural farmers. 96% of them are doing rain-fed agriculture. they're all competing with each other; they're all making very low margins making enough to survive but not enough to get out of poverty. so kickstart designs low cost irrigation pumps enabling them to grow high value crops throughout the year so you can make a lot of money. it's all very well to have a whole lot of small innovations but unless we can scale it up enough to where we are talking about millions of farmers, we're not going to solve their biggest challenge. this is precisely where the kind of finance that citi is giving us is enabling us to scale up on a much more rapid pace. when we talk to the farmers and ask them what's the most important thing. first of all they say we can feed our families. secondly, we can send our children to school. it's rea

that's where morgan brennan is live for us right now. >> reporter: that's right, brian. is what you'd call in train speak a hump. what it means is you have a train that rolls up the hill and then the cars come down the other side individually sorted on to tracks that build new trains headed out for different destinations. thanks to new investments, this norfolk southern term nal now has two of these. >> currently processing around 1800 cars a day. that number will grow to 2800 3,000 cars a day. >> reporter: and this is just one example of the tens of billions of dollars that the freight rail industry is pouring into updates, upgrades new projects expanded projects to increase and build out the north american railroad system. so according to the association -- according to the association of american railroads, this industry is forecasted to spend a record $29 billion this year. as you can see from the chart, 6 billion of that is actually going to be spent by bsnf. it's the most ever spent by an american railroad in a single year. it's happening with that company in parti

morgan brennan will be here with a special report on just how ugly it's getting jobswise in the oil patch. >>> speaking of jobs also ahead, are robots the biggest threat to the labor force? a new report estimating an additional 1.2 million robots working at u.s. manufacturing plants over the next decade. are they taking jobs? you won't want to miss this important story when we come back. >> danger, danger. [ male announcer ] your love for trading never stops. so if you get a trade idea about, say organic food stocks schwab can help. with a trading specialist just a tap away. what's on your mind lisa? i'd like to talk about a trade idea. let's hear it. [ male announcer ] see how schwab can help light a way forward. so you can make your move wherever you are. and start working on your next big idea. ♪ ♪ female announcer: want your best rest ever? then don't miss sleep train's best rest event. you'll find sleep train's very best mattresses at the guaranteed lowest price. plus, pay no interest for three years on beautyrest black, stearns & foster serta icomfort even tempur-pedic. and rest eve

morgan brennan. as we head to the break, a selloff on the street of the jobs day. check out the ten s&p sectors here for you. the s&p itself is down by just over 1%. the biggest loser here this is of course, a sector that does badly. it did not do as well in a rising rates environment are the utilities. the utilities are down by over 3%. the financials are down but they're down the least. why? well, one of the reasons is that all 31 u.s. banks passed the fed's stress test. do not go away. you can call me shallow... but, i have a wandering eye. i mean, come on. national gives me the control to choose any car in the aisle i want. i could choose you... or i could choose her if i like her more. and i do. oh, the silent treatment. real mature. so you wanna get out of here? go national. go like a pro. >> higher traffic scores was the real assistance there there for the stock. the guidance however well above prospects for the current quarter and for the full year. back to you. >> the dow off about 250 points. either despite or because of that strong jobs report there. per

our morgan brennan will assess the impact of the oil collapse on certain elements of the stock marketthen after the bell nike tosses up its latest earnings report. we'll bring you their numbers as soon as they hit the tape. and of course we'll have the instant analysis and market response, still to come on "closing bell." [ female announcer ] who are we? we are the thinkers. the job jugglers. the up all-nighters. and the ones who turn ideas into action. we've made our passions our life's work. we strive for the moments where we can say, "i did it!" ♪ ♪ we are entrepreneurs who started it all... with a signature. legalzoom has helped start over 1 million businesses, turning dreamers into business owners. and we're here to help start yours. >>> 15 minutes left sort of creeping a little bit lower here. the dow down 113, the s&p down 9. nasdaq up 10 points. i haven't seen art cashin yet, although he should be pretty happy. his fighting irish have already won today. crude oil, that's been one of the real stories not just recently, but for the last year down 56% on u.s. crude today at $43.7

. >>> i'm morgan brennan with your cnbc mark wrap. off by four and the the nasdaq shedding 13 points. the price of oil jumping more than 4% after saudi arabia began military operations in yerm yemen. their they're trying to slow the advance of rebels who have driven the country's president from the capital. meanwhile in the u.s. jobless claims fell to a five-week low last week. filings dropped by 9,000 to 282,000, better than economists had expected. that's it from cnbc, first in business worldwide. ♪ its effects on society really came about because, not because i was selfish and wanted one for myself, which i did. its because i had, had a passion. my whole life i wanted to teach myself to build computers. i wanted to build these things for free. i just wanted to do it for the world and you know when you want something, that's what you do the best. ♪ ♪ i will light up every room i walk into. presenting the olay regenerist luminous collection. the skin- brightening formula penetrates 10 surface cell layers deep and fades the look of da

morgan brennan here with the breakdown. >> hey, michele. rally was short lived, crude prices falling today. we have both brent and wti trading lower today. and that in turn is weighing on energy stocks. take a look, the energy select sector spider e etf, the xle, see that here over the past year as we've seen crude prices come down so has the xle and the case today and especially been the case over the last six months with the xle down about 19 perez%. nonetheless, in the short term many experts expect crude to continue falling on oversupply but analysts say that's no reason not to start cherry picking stocks for the eventual recovery. we're going to start with the hardest hit. oil and gas producers, anadarko petroleum one name to check out that could agagain 16% over the next 12 months according to analyst price targets. why? high quality assets, strong balance sheet and it's considered by many on the street to be a potential takeover target. similar story for noble energy. also an upstream producer. focus heavily on nat gas. implied upsid

for more let's bring in the cnbc pros morgan brennan, josh lipton bob pisani. me just start with you. what are people saying about the nasdaq's run? >> well, in terms of are you talking public investors or private investor kelly? >> i don't know. what is more interesting? >> well listen, i mean talk to vcs. if you're talking about the nasdaq's run, they feel like listen all the talk is about bubbles. but out here it's hard to find people who think there is a bubble when you see such transformative disruptive technology going on mobile cloud. so a lot of still optimism out here kelly. hard and harder to find that other crew. >> bubble, rick? you think that's a word people should be using? >> i think it's an adequate word. i think the problem with bubbles is they usually last a lot longer than common sense would dictate. but here is something fascinating, kelly. i have heard several discussions today where everybody points to the fact that you know maybe it isn't the fed. stocks might be a little topee. but they're moving up. even though everybody knows that jane

morgan brennan has more on that at hq. ate business 14 cents that represented 53% increase in net profit over last year. we saw lower fuel costs relatively mild weather, ongoing air express restructuring and stock buybacks all boosting the bottom line. all, a solid peak season for the parcel carrier, which saw package volumes grow 4% in u.s. express last quarter, also 7% in ground on the earnings call executives saying that this was the best christmas peak in terms of service, quote, ever for customers. revenue did miss expectations. surcharges start to be adjusted lower for customers, that's cutting into revenue and that's a headwind that is expected to continue. that's the reason why this dynamic was a big topic of analysts' questions on the call. so-called dimensional weight pricing, rolled out to all ground packages in january, helped revenue by 3%. the company saying quote, the market responded to the pricing change well. also the west coast port backlogs contributed to more freight across the pacific into the united s

. >> morgan brennan is looking at what's going on with this widely watched sector. morgan? >> i almost called you morgan stanley. i really almost did. >> i'll take it as a compliment. let's look at the dow transportation average. this right here is what you want to look at. this is what happened today. dow breaking below 20 day moving average happening earlier tea. since, we bounced back. nonetheless, this is what everyone's watching very carefully. why? transports are closely correlated with economic growth. now we see the rally in oil. that's weighing on the group right now, the 210 to trade inversly. you see that with the transportation average etf and the uso, u.s. oil fund. you see that dynamic right there that's weighing on the group today, but there's a bigger story here. we're beginning to see a slow down. companies like fedex and kansas city southern have been cutting guidance recently. now we have data that's pointing to a slow down in freight volumes across several modes of transportation. look at this. we've got trucking tonnage falling 3% in february from janua

we had morgan brennan in cushing, you and i talked about a few weeks ago, the idea cushing will get filledand what will that mean? do you have to start selling oil and therefore the market price starts to fall? are we reading that correctly, jim. >> if there's a price war between canadian crude and mexican crude. the canadian crude turns out didn't this need this keystone because end bridge provided a good pipeline. there's a war between those two. mexicans can't afford to lose the market share. you have a huge glut. i think rex tillerson is certainly a smarter man about the short term than anybody else help was quite gloop gloomy i felt. >> tillerson, exxon if you missed it says 55 on brent for -- through 2017. here's rex tillerson with becky earlier this morning. >> people should be prepared for some more volatility in this market. as i made a comment to someone about the storage volumes when they were building a couple of months ago i said what goes into storage must come out of storage. i think there is the potential for there to be further pressure on the market for a period of time a

morgan brennan live in kansas city with more on that story.: good morning, sara. take a look at these containers. these have been around for decades. as more goods are moving across the u.s. right now, more of it is being done so in these types of containers. there is a battle that is brewing over who is going to move these the majority of the way. that's because these are intermodal containers which means they can move they can be shipped using come bin fashion of train and truck. right now, trains are winning. so this is the fastest growing business within freight transportation right now. especially for the railroads. talk about things like growth in crude by railcar loads. take a look at intermodal car loads how much they grew in 2014 over 2013. to put this another way, this is now the largest single source of revenue for the railroad industry. it's offsetting the steep declines we've seen over the last couple of years in coal. sorry. excuse me. my ear just dropped out. the biggest single in coal. the reason we have seen the shift from pur

morgan brennan has the details. >> according to dow jones the social media startup pinterest has raisedes the company at $11 billion. the company is also reportedly looking to raise as much as $208 million more and the company is said to be using these funds for international expansion. so again, according to dow jones, pinterest raising $367 million valuing this social media startup at $11 billion. kelly, back over to you. >> wow. some avid users around here. thank you, morgan. americans are living longer and longer and if you believe social security, well it's really a lot longer. flawed data says more than 6 million americans older than 100 have active social security numbers and that's a sign of rampant fraud. there's a senate hearing focusing on this outrageous story as we speak and john harwood joins us now with details. >> hi kelly. there's certainly the potential for fraud on a fairly widespread scale. this is what the senate homeland security committee is looking at today. the inspector general reported that 6.5 million social security numbers are active for people 112 years or

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not just bucking the slump, but outperforming the broader market as well and who better than morgan brennan tyler. this chart is an energy stock -- oh, well it's not up. >> it was. describe it. >> there's a group within the sector that's bucking the trend as you mentioned, telling you all about it and why the companies have been up double digit percentages since the start of the year. >> all right. ♪ approaching medicare eligibility? you may think you can put off checking out your medicare options until you're sixty-five but now is a good time to get the ball rolling. keep in mind medicare only covers about eighty percent of part b medical costs. the rest is up to you. that's where aarp medicare supplement insurance plans insured by unitedhealthcare insurance company come in. like all standardized medicare supplement insurance plans they could help pay some of what medicare doesn't, saving you in out-of-pocket medical costs. you've learned that taking informed steps along the way really makes a difference later. that's what it means to go long™. call now and request this free [decision guid

joining me now bob pisani rick santelli out at the cme, bertha coombs at the nasdaq and morgan brennanthat took it on the chin. bertha a 2% decline on the nasdaq. was it the biotech names? >> it was the biotechs but the chips are more concerning when you look at them technically. the philadelphia semi-conductor index falling below its 50-day average. that was a decisive sell-off. it's nowfractionally in the red for the year. the semis overall have not been the leaders. so it's very similar to what we saw last october, and it's the same sort of movement we saw when we saw both the chips and the biotechs telling off together and really hard last october. so if this continues, this technical weakness for the chips, it could start leading other things lower, too. >> also on people's worry list if you will, morgan, was the move in the transports which have been real weak lately. you heard doug last segment telling us maybe that's because they move a lot of oil. is this a classic sell song? >> take a look at the transports. the dow transports are down 4% so they're vastly underperforming the

our own morgan brennan down here at the new york stock exchange. john from tgi group and guy adami.ned in the nasdaq today, driving it bio biotechs and strength of technology. >> biotech is the real driver. you go back 10 15 years, the real driver of the nasdaq was technology. now it's still technology except you have to throw those three letters b-i-o in front of them. everybody has been saying biotech is in a bubble. that is not the case. many big pharma companies would die to have the balance sheet a lot of biotechs have. i think the rally in biotech is still well intact here sara. >> john spallanzani, make sense of the world for us after all we've been through this week fed speak and all the other things that have been going on here. do we stay the course or did something change for you this week? >> nothing changed for me. as a matter of fact, i think things got better. i think that janet said lower for longer again. everybody is waiting for her to take the punch bowl away. she's not doing that. she's not even prepared to do that right now. >> do you still hold bonds then treas