then watch shares of nike.hat michael avenatti from a tweet was planning this press conference to reveal some wrongdoing on part of an aau team. not 15 minutes later, we learned that michael avenatti is being arrested he's charged on two coasts, on the one with extorting nike in california with embezzlement and bank fraud >> embezzlement, bank fraud, tax fraud, filing false returns in order to get loans that he clearly thought he needed. pa busy day. they'll carry on with the "closing bell" in just a moment. >> thanks for watching "power lunch" >> the "closing bell" will start right about now. >> it is the final hour of trade. apple announcing its move into streaming. that stock is down, but the likes of roku up we'll explain why. >>> and with the mueller report in the rearview mirror, what happens to president trump's economic agenda? >>> plus, stormy daniels' former attorney arrested for allegedly trying to extort millions of dollars from nike. we've got the latest details the "closing bell" starts right now.

nike is a buy. it the kaepernick was a huge home run and i didn't even mention it >> much more "mad money". >> pegasystems i'm taking a closer look at what sets this company apart with the ceo. then trying to gauge the health of the u.s. economy? should you rely on the labor department, commerce department? no i'll tell you why it all comes down to chicken alfredo. stay with cramer ♪ ♪ -i call it my comfortable future plan. -it's our confident forever plan. -welcome to our complete freedom plan. -it's all possible with a cfp professional. ♪ -find your certified financial planner™ professional at letsmakeaplan.org. ♪ ♪ >>> not every company first. sometimes the biggest winners are older companies with the flexibility to adapt to major changes in the industry. consider the rise of kyle computing. once it became obvious that the cloud was the future they had a choice, either become disruptors by embracing the cloud or do nothing and be disrupted. the smart ones jumped on the cloud system take pegasyste

nike reporting an earnings beat, but the stock is deep in the red this morning sales in north korea cameweaker than expected as fewer people bought converse branded stuff. >> china earned its 19th consecutive quarter of high quality double digit growth. as a chinese consumer increasingly makes sport a part of their daily lives >> nike shares are down about 4.5% a double win for the new york stock exchange reuters is reporting that both uber and pinterest will i list their upcoming ipo's at the nyse cnbc asked stacy cunningham about those, and here's what she had to say >> we're excited about what's coming we're excited about levy's today and what's -- >> are you going to get uber >> you know i'm not going to answer questions about specific questions. >> you missed out on one of them it would be disappointing to miss out on two. >> when you look at the large companies that value the market model that we saw today, all those traders out there that swapped out their trading jackets for denim jackets today, they're what make this market model unique they take the time to find the right price

nike became aware of this matter, nike immediately reported it to federal prosecutors and mr.venatti attempted to extort nike over this matter. nike with the assistance of outside counsel ataided the investigation. they concluded, nike believes in fair play in both business and ports and will continue to assist the prosecutor. a little bit more clarity over the sequence of events that led nike to the federal prosecutors to eventually charge michael avenatti with going after nike for extortion. let's bring. eric shemy to the conversation he's been following story and some of these news conferences, eric, from the authorities what else do we know >> that's right. a lot of things are going on here all of these events, basically, they just happened last week this was a very short turnaround in terms of when avenatti first reached out to nike and its lawyers and said, hey, look, i want $1.5 million for my client, who's a former coach that coach's youth program had been sponsored by nike, but was no longer sponsored by nike, and that's why the coach reached out to avenatti looking t

so what i'm understanding is this is all with nike.client who's a high school coach and they believe this coach has this information on nike alleging misconduct on behalf of nike employees and if you don't let me do this internal investigation an pay my guy 1 $.5 million, there's going to be a problem. dot, dot, dot. eventually, it's they b obviously expresed they don't want to do this. he says well i can ride off into the sunset with a cool 22.5 million. they say not so fast. >> one point they go to the fbi in the southern district of new york. if you're going to try to extort someone, don't extort nike. they're pretty savvy. this is an interesting case. i think we saw the u.s. attorney already anticipating that. because two sentences in, he was this was not just aggressive d advocacy. that's going to be michael avenatti's defense here. look, my client had some sort of legal clal. some sort of contractual claim against you, nike, and i offered to come in and do the legal work. yes, demands for high. yes, i used harsh language and was

avenatti allegedly threatened to damage nike's reputation by accusing nike of misconduct, telling nike'syers over the phone last week quote, i will go take $10 billion off of your client's market cap. earlier today, look at this tweet avenatti sent out saying quote, tomorrow at 11:00 a.m. eastern time, we will be holding a press conference to disclose a major high school/college basketball scandal perpetrated by nike that we have uncovered. this criminal conduct reaches to the highest levels of nike and involves some of the biggest names in college basketball. now avenatti, he could face possibly up to 100 years in prison. let's bring in former federal prosecutor. this is a bombshell. your reaction? >> if you fly close to the sun you will get burned. this is the attorney who makes all attorneys look bad. for the jokes that can be told about attorneys over and over again, at the end of the day, attorneys are placed in special position of trust and that's to be honest, not only with your clients, but the parties you are opposed against. this was just, seems like a blatant effort to put mon

federal investigators say they have audio recorded by nike's lawyers where he says if nike wants to have one confidential settlement and they can buy that for $22.5 million and we are down. the confidentiality that we will ride off into the sunset. he is facing up to 97 years in prison if convicted. he has been ordered to appear in court next month. >>> the secretary of state is defending proposed budget cuts. the trap administration budget would cut $8.5 billion from the education department. it would affect afterschool programs, grants for textbooks and equipment, and completely eliminate support for special olympics. yesterday, before the house committee, betsy devos says she thinks that special olympics is better supported by philanthropy. the budget would increase funding for charter schools and give tax credits to get private schools, such proposals are unlikely to pass the house that is controlled by democrats. >>> a 26-year-old is scheduled to appear in court to enter [no audio]. . driver is presumed dead after a truck plunged up the bridge and into the sacramento river. this hap

he says this reaches the highest level of nike.s in college basketball. basically an hour, 90 minutes later he was brought in and arrested. so one of the things we can tell you, charles, boeing on behind the scenes, he apparently said, i'm not if-ing kidding around on this. he threatened nike would take $10 billion off its market cap. charles: deirdre bolton, thank you very, very much. meantime, folks, bigger news. global growth fears are weighing on markets. some wonder if trade deal with china would alleviate pressure. treasury secretary steve mnuchin and trade representative robert lighthizer are heading to china for more trade talks. delegation led by their vice premier would come to washington, d.c. jim awad is with us and david nichols joins us as well. david, let me start with you. listen, we had a huge run, right? we have to put this in perspective. worst performing index is the dow, up almost 9% for the year but this is a new hurdle. global economic slowdown can't be fixed by our fed. so where do we could from here? >> cha

trying to extort -- extort nike, big mistake?> jim: he's got a great defense committee he told me just do it. >> dana: very good, jim trustee. [laughter] >> jim: big mistake but it doesn't matter. >> dana: so mikey called the fbi and set this guy is trying to extort money from us? >> jim: i think they waited until the other shoe dropped with the announcement from avenatti today. that is enough of extortion to act on so pretty fast-moving coordinated with nike and again pretty devastating paper trail to try to undo. >> dana: i can't think of a shoe pun so i will let you have all of that, jim trustee, thanks for sticking around for that today. thank you, jim, and we will be right back quartet? [quartet singing] bum bum bum bum... pass the ball... pass the rock.. ...we're open just pass the ball! no, i can't believe how easy it was to save hundreds of dollars on my car insurance with geico. yea. [quartet singing] shoot the j! shoot, shoot, shoot the jaaaaaay... believe it! geico could save you fifteen percent or more on car insuranc

and threatened to release damaging information regarding nike, if nike did not agree to make multimillion dollar payments to avenatti and this cooperating client and to make an additional $1.5 million payment to a client avenatti claimed to represent. the southern district of new york, and the u.s. attorney also say that avenatti stated if those demands were not met, i'll take $10 billion off your client -- nike's market cap, i'm not [ expletiving around we'll keep an eye on what's going on right here. michael avenatti has been arrested, the u.s. attorney is going to make those allegations public in a conference later on today. a very big story back over to you >> that is wild. thank you very much. dom chu will continue to follow that let's get back to julia who's at the apple event. julia. >> kelly, that's right, tim cook running a sizzle reel as he unveils apple news plus. tim cook talking a lot about how apple news has become this powerhouse with over 5 billion articles read every month. it's the number one in news app, now they're bringing magazines to apple news as we've been reporti

i like nike. i think it's by far the class of the athleticwear under armour to me, i hear you, steve, in terms if you want to buy a bombed-out story but that's the story i really -- valuation. >> but you bring up china again. i hate to rag on china here, but to me the story in nike, it's priced in that china growth. it's vulnerable to a hiccup. we get any hiccup in trade, any hiccup in the chinese economy, and nike is going to be the one that's vulnerable because the chinese story is nike in my view we look at what are future sales at nike, that's what you're worried about here i think it's vulnerable. >> so a trade war stock that is vulnerable during the thick of the trade war. >> right. >> and here on the other side, it's still vulnerable -- >> no, it's vulnerable because we can get a hiccup in the trade war. right now we're pricing in, but everything is going to go great with this trade deal one its hiccup, you've got a problem with nike. >> chris, could you speak for me here, please we're two

no one thinks nike shoes will be blowing up on them.ca your nikes will not fall off like zion williamson's did. i don't think anyone was worried about. that folks that sold were putting cart over the horse. connell: if it were me, i would be all over social media. a big cut i made. shoes exploded. >> especially the way you don't. connell: a lot of people don't know about that. susan: new details surfacing from the fatal ethiopian airline crash. boeing is making big, big changes. that is coming your way next. ♪ that helps you find a stock based on what's trending or an investing goal. it's real-time insights and information, in your own customized view of the market. it's smarter trading technology, for smarter trading decisions. and it's only from fidelity. open an account with no minimums today. anis it to carry cargo...ty. greatness of an suv? or to carry on a legacy? its show of strength... or its sign of intelligence? in crossing harsh terrain... or breaking new ground? this is the mercedes-benz suv family. greatness comes in many f

, or extort nike.fore news of the charges, of a knotty posted a natti posted aave tweet that he is major scandal about nike. was he trying to preempt the news? >> according to the complaint filed, he said he had damaging information about the company thehow it had bribed families of several promising amateur basketball players. that presumably is the subject of the tweet. terms of where this story fits in, so interesting to see this coming on the heels of the whole jeff bezos affair -- pardon the pun -- in terms of how people respond to these. are we in a new era were no longer people will given, the next call is actually the one that gets you in trouble? iswhat this seems to show that there are certain lines that cannot be crossed in business negotiations. the company felt avenatti clearly crossed a criminal line. it is pretty unusual to charge someone with extortion, especially a high profile person like avenatti. the facts that are laid out in the complaint, if they are true, are quite incriminating

nike rather released a long statement, i will not read it but i will tell you tag line, nike believed in ethical and fair place in business and sports, we will continue to assist the prosecutors. when mr. avenatti attempted to carry out this extortion if you like, many reaction, on the west coast, as you alluded to, california unveiling several charges of bank fraud, wire fraud, there, he is accused of embezzling a client a money, defrauding a bank, separate changes but this is a theme, air character theme, if you like. we rose to fame representing adult hirepresentingfilm actreso sued president trump could regards basically nondisclosure agreement. getting out of that with the affair she alleges happened between the president and herself in the years 2000. i want to make this quick note after the changes against avenatti were made public, she actually weighed in saying'ing what i know about michael avenatti, i am saddened but note shocked, we has felt with me dishonestly there will be more announcements to come. those 50 years you referenced as maximum that is new york only if califo

on nike.thing tells me we have not reach the end of this scandal. he's talking about college basketball corruption. the scandal is far broader than imagined. why this tweet went out to the public who was intended and designed for audience of one. it was michael avenatti's shot across nike's vows. three the combat, avenatti used legal terms like claims and settlements and retainers. these were devices to cover afterty extortion of the plan for a massive payday himself. avenatti was not acting as an attorney. a soup and due does not match the fact. this was an -- the assistant general in charge. i want to thank him and his team for the professionalism and seeing this investigation through. i want to acknowledge and thank the career prosecutors in my office for their roles of the investigations and prosecution. to my right is robert boone, rob si silverman. these public services is really extraordinary. >> our legal system, our system of justice requires and relies on attorneys, members of the ba

did you try to extort nike for millions dollars. >> sdmorks any suggestion is absurd, nike knew fromst moment that i had contact with them, that i was insisting that the truth about what nike had done be disclosed to federal prosecutors and investigators. >> what is the truth? >> the truth is, for years, nike and its executives, have been funneling payments to amateur had players, high school players, and to their handle er and family members in an effort to go to colleges had that were nike colleges and ultimately, hopefully to the nba so they could sign a shoe deal with nike. >> but federal prosecutors maintain a different version of the truth. >> he was not acting as an attorney a suit and tie doesn't mask the fact that at its core, this was an old fashioned shake down. >> they allege michael avanatti attempted to use his platform to black mare the apparel giant. the complaint suggests that you asked for up to $20 million. 1.5 for your client, and at least $20 million and that you requested you be retained to do an internal investigation and that if not you, and they hired someone

nike says it's cooperating with the government's investigation into ncaa basketball. danya bacchus, abc news, los angeles. >>> another apparent suicide is shining the light on the long-term impact of mass shootings. the father of a sandy hook school shooting victim has taken his own life just days after two survivors of the parkland school shooting committed suicide. dr. jeremy richman was found dead in newtown, connecticut. his daughter was 1 of 20 children killed in the sandy hook shooting. richman spoke to abc's dan harris on his podcast last year. >> you will never see her again. you will never hold her, you know, feel that weight in your arms, never snuggle, never get that hug and kiss on the cheek. that's like you will never have that again. >> the overwhelming feeling of helplessness, once one has had an experience like that, the brain encodes it into permanent memory. >> just a really tough reminder of how fragile life is. richman spoke at an anti-violence summit near parkland, florida just last week. >>> more severe weather is on the move. let's take a look a

in 2015, he claimed that nike copied virtually every original photo. there is his on the left i believe. and then the marketing on the right. the appeals court up seld theld decision that it was not substantially similar. >>> and "early start" continues with breaking news on obamacare. >>> are you ready to say there was no collusion between the trump campaign and russia in light of the mueller finding? >> democrats facing a hard choice post-robert mueller, keep investigating trump, focus on their agenda, can they do both. >>> and the white house now backs a full repeal of obamacare. the major shift after saying parts of the law could stand. >>> a $20 million extortion plot, serious charges against the lawyer who helped expose the hush money payments from donald trump. >>> and duke university used fake science to get real federal money and now the school is paying up. paying back taxpayers. welcome to "early start." >> it is tuesday, march 26, 5:00 a.m. in the east. there is always a tweet for that, but shearhere is a doozy. republicans will totally pro

facing allegations he tried to extort more than $20 million from nike.e have the latest. >> this was an old fashioned shake down. >> facing federal charges including two counts of extortion and two counts of conspiracy to extort. appearing in federal court in new york. not entering a plea. the judge releasing him on $300,000 bond. he must also turn over both his u.s. and italian passport. >> i am highly confident that when all of the evidence is laid bare. i will be fully exonerated. and justice will be done. >> federal prosecutors say the former attorney for adult film star stormy daniels tried to extort $25 million from nike. saying he claimed to have a client a coach who had damaging information about nike payments to high school basketball players and families. and threatened to go public which would negatively affect the market value. in one wiretap, he allegedly warned nike lawyers i'll go take $10 billion off your clients market cap. i'm not -- around. he was arrested 15 minutes after this tweet. threatening to disclose a basketball scandal perpet

charged in two separate criminal cases, alleging he attempted to extort more than $20 million from nike, that he committed wire and bank fraud. serious, serious charges that could land him behind bars for decades if proven true. stormy daniels tweeting that she was saddened but not shocked at the news and going on to say that she terminated his services, quote, after discovering that he had dealt with me extremely dishonestly, and there will be more announcements to come. that's a quote from which she tweeted. a defiant avenatti saying this tonight. >> i am highly confident that when all of the evidence is laid bare in connection with these cases, when it is all known, when due process occurs, that i will be fully exonerated and justice will be done. >> all of this has michael cohen, the president's former fixer who pleaded guilty to campaign finance violations over hush money paid to daniels, is set to report to prison in may. like i said, nobody is above the law. that's one of the things that really make america great. one of the big unanswered questions tonight, why didn't robert mue

he trieded to extort more than $20 million from nike. >>> how did a cruise ship get in so much trouble? more than 600 americans on board, losing power on seas. a rescue helicopter here, a 71-year-old woman and her husband among them. >>> the college cheating scandal, a dozen coaches accused of taking bribes. and the co-stars of "full house". >>> two suicides in parkland. a young woman, she just graduated. she suffered survivor's guilt, and a second opportunity. and tonight a father from sandy hook. authorities believe he took his life too. >>> the man hunt for the gunman who showed up and opened fire in a neighborhood, shoots in homes, apartments and came back the next day, authorities say doing it again. >>> good evening. great to have you with us here on maund night. we begin with a dark cloud now lifted for prt trump and the white house. the mueller report finding no collusion with russia. after two year, robert mueller finding no conspiracy for the president or his company with russia. and stopped short of exonerating the president of obstruction of justice. the sum ray of the mult

was dropped by nike who was willing to say that nike was involved with paying the program and paying top play ners college basketball. now adidas has been wrapped up in that inspection, and they have successfully processed a law scheme. they went to the firm and he said if youd don't give me over $20 million to become engaged in an internal investigation with another attorney, i will go public with these allegations and you may not die as a company, but i'm going to cut and cut and reduce your market value essentially threatening nike that if they didn't pay he would go public with this and really damage them, so she expected in court, we're told, in the next hour or hour in a half or so. he will face charges here and he will make his way to laelgs. it is a stunning fall, and the question came up, it came up i'm seeing in online posts about whether or not this office and the u.s. attorney here who was appointed by president donald trump, whether or not this was some sort of retaliation for michael avenatti for his representation of stormy daniels, and prosecutors making clear here th

in 2015, he claimed that nike copied virtually every original photo. is his on the left i believe. and then the marketing on the right. the appeals court up seld theld decision that it was not substantially similar. >>> and "early start" continues with breaking news on obamacare. >>> are you ready to say there was no collusion between the trump campaign and russia in light of the mueller finding? >> democrats facing a hard choice post-robert mueller, keep investigating trump, focus on their agenda, can they do both.

played by nike.est levels of nike. prosecutors say avenatti approached nike. he threat owned to expose rules violations unless the company paid him $25 million. emily, this is mind-boggling here what do you know of this, what do you make of it? >> right, i feel like both of these stories are the truth is stranger than fiction thing. this guy doesn't know when to stop, avenatti. the final nail in the charging document was his tweet. look at him go on a tweet storm. he is digging himself, his own hole. for viewers, there are two separate complaints. there are four charges in the southern district of new york and there are two in the central district of california. with nike, he, two things. try, a, to get them to pay one of his coaches there, former client, his client. they had sponsored his basketball team for 72 grand a year. he wanted them to pay him $1.5 million. charles: right. >> to pay him up to 25 generously he said. don't worry i'm not asking for a million, to investigate nike and to pay him t

they came to nike this is serious. we need to talk to you. lawyers for nike realized this wasn't a standard negotiation. as soon as they realized the type of threat being made and severity of the request they went to federal prosecutors who started to record them. there are tapes of avenatti. >> out in los angeles trying to say you had more than you did to get a loan? >> los angeles appears to be based on bread and butter bank fraud. try to get loans based on that. also appears to have stolen money from client. if the facts are what they are, he is going to spend time in prison. >> new york case you pointed out, you see similarities with a very high profile american? >> what is interesting about this case, is folks remember a few weeks ago, jeff bezos, ceo of amazon. if i don't do something, they are going to release them. what is interesting. lawyers who talk about that case, isn't it extortion? ama is being investigated. reached agreement with the same prosecutors to stop that behavior. those prosecutors we know feel like actions like this

nike says they are cooperating into ncaa basketball. and 3,000 miles away in los angeles, prosecutors unveiling a separate case against avenatti. >> the federal criminal complaint charges mr. avenatti with wire fraud and bank fraud and contains a series of allegations that paint an ugly picture of lawless conduct and greed. >> reporter: prosecutors alleging he stole $1.6 million from a client's legal settlement. stormy daniels who had already cut ties with her former lawyer, today saying knowing what i know now, i am not shocked by the news reports that he is criminally charged. the california bank and wire sfraud charges carry a max of 50 years here in new york. and extortion, another 47 years. if convicted, he could spend the rest of his life behind bars. david? >> paula faris, thank you. >>> next we are hearing from many of the americans on that doomed cruise ship and their nightmare in norway. more than 60 americans were on board the ship when it was rocked by massive wave, tossing people around, nearly running aground. helicopterin

dow component nike about to report earnings. biogen losing $18 million in market value and levi strauss surges on the first day of trade. we have an exclusive interview with the president of the new york stock exchange. "closing bell" starts right now. ♪ >>> welcome to "closing bell." i'm sara eisen along with wilfred frost. near session highs the dow up 200 points. apple is the winner adding about 50 points to the law and most components are higher including nike ahead of the earnings next hour as for the broader markets, strong again up more than a percent. the nasdaq's doing well. tech trade is on nasdaq only group lower, financials. >> a similar trend to what we saw after the fed yesterday. banks down, everything else. much more pronounced and near the session highs with just under an hour left of trade. we'll take a look at shares of pu curaleaf soaring on cvs to sell some of the cbd talks and we'll talk to the ceo coming up on "closing bell." >>> let's begin with the two big ipo stories of the day bob pisani looking at he

for nike, and that he had damaging information about nike and how they had paid off the families ofeveral promising basketball players. he then entered into the negotiations with nike, and nike said that he threatened the company with economic and reputational harm, essentially saying he would go public with some very damaging allegations unless they paid him him .mmediately a lot of money nike then contacted law enforcement, which proceeded to surreptitiously record have a ti making avenat several statements and separately, we understand it, there was a criminal complaint filed in los angeles charging 1.9with stealing at least million dollars from a client, which appears to be unrelated to the nike case. ♪ >> you are watching "bloomberg best." ecb president mario draghi said this week that the central bank needs to maintain its accommodative policy stance and also said he is ready to take measures to soften the impact of negative interest rates. after he spoke in frankfurt, bloomberg said down at ecb headquarters with chief economist peter press. >> what is clearer now is that the

global growth concerns, nike doesn't do anything to add to that negativity. it's pretty positive double-digit growth. >> underscoring the consumer strength and manufacturing maybe weakness. >> true. >> in the economy as a whole. >> thanks for watching today that does it for "closing bell." >> "fast money" begins right now. >>> "fast money" starts right now. live from the nasdaq market site overlooking new york city's times square, i'm melissa lee. tonight on "fast" check out shares of nike getting knocked down after its earnings report the company call kicking off right now. >>> plus levi strauss wowing wall street as it makes its public debut that stock soaring more than 30%. we'll tell you what the jean dream means for the other unicorns waiting in the wings. >>> the dow, s&p and nasdaq all up 10% as the 10-year yield hits its lowest level since january 2018 there is one group of stocks getting absolutely turbocharged and that would be tech the sector soaring more than 2%. just within striking distance of an all-time. the semis going absolutely wild. apple

according to the criminal complaint, avenatti met with an attorney for nike last week and threatened to release damaging information about the company if nike didn't make millions in payment to avenatti and an un-named co- conspirator. but according to c-n-n sources... the co-conspirator is california-based attorney mark geragos.... who has represented celebrities like colin kaepernick and more recently jussie smollett. geragos has not been charged with a crime. avenatti also allegedly demanded that nike pay $1.5 million to an individual he claimed to represent.just today... about an hour before he was arrested...avenatti tweeted that he'd be holding a news conference tomorrow to disclose details about a scandal involving nike.... saying it involved people at the highest levels of the company... and college basketball.

nike in a statement quoting, it's a much longer statement but i will give you the headline here, nikelieves in ethical and fair play both in business and in sports and will continue to assist the prosecutors. separately federal prosecutors in california also unveiled charges of bank fraud and wire fraud against avenatti. prosecutors have outlined these brazen details. some of those actually have to do with defrauding a bank and also have accused avenatti of embezzling a client's money. these charges are separate to the new york ones but they essentially followed same theme. avenatti as we know rose to fame last year representing adult film actress stormy daniels who president trump to get out after non-disclosure agreement signed regarding an affair she claimed she had with the president in 2000. essentially she was not surprised. disappointed but not surprised by these charges. 100 years, connell, possible for you have avenatti if all counts and maximum sentences are done. connell: not a good idea if you're michael after naughty. >> not at all. melissa: protesters wanting a new vote

sara eisen has more on nike's numbers. >> the takeaway from nike's beat, this is a company in the middle of an upswing in innovation and solid growth, but the marke is already onto it. nike posting very strong sales across geographies, from north america to europe to despite some warnings and evidence of an economic slowdown in different parts of theworld. why? innovation is key. and you see that in higher margins. nike is able to charge more for newer produche, like epic react and the vapor max that are resonating with consumers right now. the only challenge, wall street is already onto t story. the stock has run up 20% to a record high. 's rebounded strongly off the lows, leaving some investors t wonder what's next. for "nightly business report," i'm sara eisen. >>> biogen shares had their worst day in more than a decadet this the biotech company said it was stopping t phase clinical trials of an alzheimer's treatment. considered obeen of the most promising in the fight against the memory-destroying disease. the company says the decision to halt the tris was n due to safety concerns, b

nike became aware of the matter and they reported it to federal prosecutors. the investigation reportedly involves illegal payments to the families of high school basketball stars. after he was released on bond, michael avenatti, who likes the cameras on last year did hundreds of interviews on cnn and msnbc, defended himself. watch. >> and is all of you know, for e entirety of my career, i have fought against the powerful, powerful people and powerful corporations. i will never stop fighting that good fight. >> now he's got a separate legal fight here in california where the feds say he is embezzled of client settlement money to pay his own debts and allegedly used phony tax returns to obtain more than $4 million in loans. avenatti's former client, the porn star stormy daniels says she's not surprised by the tardis, calling avenatti dishonest and charles harter who represented president trump and stormy daniels' case says that avenatti's arrest marks a great day for the american justice system and finally we have to know that in the nike case, avenatti has an

when nike became aware of this matter, nike immediately reported it to a federal prosecutor. avenatti says he's representing his client who is a coach for a youth league in california and they say they have evidence that they paid three of those players which is illegal, that they are going to college and it's against ncaa rules. stuart: avenatti's credibility at stake, i suspect. susan: there are separate charges in california that he stole $1.5 million from a client, falsifying tax claims. stuart: and he has been arrested. all right, susan. there you go. i think it's a unique attempt, i think it's a shakedown and unique in our recent history of a company like nike. susan: yeah. absolutely. stuart: let's get to politics. president trump going after the mainstream media big-time. he once again called them the enemy of the people. about time we brought back newt gingrich, host of newt's world podcast. newt, should the president move on or hit back at his opponents right now? what's his best strategy, do you think? >> well, look, i think his best strategy is historic. imagine t

>> that's a good point what we've seen from nike is number one global retail partner footlocker, theales increase since the first quarter of 2014, a 10% same-store sales increase at the number one retail partner. how does that look relative to the rest of the retail industry? that puts footlocker in the top five of all retailers in the united states. we're pretty optimistic that from footlocker strength, nike strength will continue >> what about on the margin expectation? >> yes, margin expectation is for roughly 60, 70 basis points of gross margin expansion, that's in line with what we've seen over the last couple of quarters could that be a little bit light relative to some of the more overly optimistic expectations yes, we think it could be, but what nike is doing is putting up that consistent solid increase, going forward, and they're reinvesting that potential upside that some people might be a little optimistic will back into their product, back into growth and that's why we've seen sustained growth, sustainable growth from nike over the last several honestly last year >> there

michael avenotti is accused of trying to extort millions from nike.gators are backing up that claim. >>> a major yoga move caused a stroke. the woman warning others. >>> the investigation for gale, a prize winning show dog vanished before she was set to board a flight. we are hearing from the owner, . >> from abc news, this is "world news now." >> good morning, everyone, on this tuesday. that dog is causing quite a stir down there. >> it is, poor gale. >> one of the busiest airports. >> hopefully, she is found soon. >> so our script originally said dog gone. but someone changed it, because they didn't want me to say dog gone. i was ready to sell it with dog gone, someone said, you know what maybe that's not professional for us this morning. >> it is somebody's pet out there. it is a show dog. it's out missing. hopefully, it will be found soon. we will tell you much more about gale coming up in a little bit. >> we will. we begin this half hour with president trump vowing to looking into those responsible for the russia investigation now he is cleared o

that's like criticizing nike for only beating expectations by a couple of points end of the day, nike'sstate is going to continue to win. who's in the next round? florida state university >> that's one area of my bracket that's good. >> my only consolation is every team i had that lost, i didn't have them winning the next game. so my total points are still -- >> i've got bigger problems than you. >> you had some half brackets busted >> marquette going to the sweet 16 >> not in this world. >> matthew, thank you very much. you could have taken that. >> you know, i've done that before and you said, look, i get up early i expect to be an equal -- >> i've never. >> you did that one -- i did one interview and you didn't get in. you said if i'm going to be here early, i want in >> you guys continue this conversation >>> when we come back, former mckenzie chief who was convicted of insider trading nearly seven years ago is speaking out for the first time >> we had a board meeting where i tendered my resignation. and he gave me a gift of, you know, two cuff links that were from the goldman found

michael avenatti arrested and charged with trying to extort nike. having to press conferences in two different states and he will be in court. all of that happening in the 2:00 p.m. hour. plus, house minority leader kevin mccarthy talking about the mueller summary and what speaker pelosi wants cap next. plus, the five cohosts have a few thoughts on the media coverage of the new report. you will hear from them next on the "the daily briefing." >> harris: video to show you now the chaos onboard a viking cruise ship off the course of no way. the vessel tilting nearly 45 degrees and choppy seas after suffering engine trouble. we are now told that people were injured, but passengers have already been airlifted to land by helicopter. the ship eventually towed it to shore with the help of two other vessels. the remaining passengers on board reportedly shouting, "we made it!" was the ship docked in norway. we are told they will be flown back to her ever need to go. fox news alert and we are waiting that news conference, the first of two. the first lap and t

he said we never attempted to objection tort nike and when -- extort nike and when the evidence is exposed the public will learn the truth. ashley: fighting escalating between israel and hamas, israeli aircraft bombing targets along the gaza strip. this is hours after hamas announced a cease fire was broken by egyptian mediators. prime minister netanyahu is heading back home after cutting the trip to washington short. the fighting comes after a contested race for prime minister. patrick shanahan will testify before the house armed services committee to you day, a day after notifying congress he will divert as much as $1 billion to stop building president trump's border wall. the house and senate voted to overturn trump's declaration of a national emergency to use construction money to fund the wall. trump vetoed the bill. the trump administration's legal battle against p obamacare is heating up. the department of justice announcing it is siding with a district court ruling that found the affordable care act was unconstitutional. the doj says the court's decision should stand as it works it

>>> and extorting nike.nd trump nemesis michael avenatti under arrest right now charged with federal crimes in two states. stand by for stunning details on how avenatti allegedly made threats and demanded millions. we want to welcome our viewers in the united states and around the world. i'm wolf blitzer. you're in "the situation room." >>> this is cnn breaking news. >> breaking news tonight, a white house official tells cnn the trump team still hasn't seen robert mueller's full report, this as president trump claims it would not bother him at all if the special counsel's findings were made public as democrats are demanding. a day after the attorney general releas

. $25 million out of nike. the lawyer who once represented stormy daniels and her legal battles against the president is free. he is out this morning on $300,000 bond. the u.s. attorney in new york says at its core this was an old fashioned shakedown. aven a twitter trolling writing what an amazing last 48 hours. i can't stop watching. i'm joined now by tom winter and by paul butler. tom, let me get to you. you've been covering this since it broke. boy, there were a lot of colorful quotes in the indictment. prosecutors released one excerpt of a phone call they say avenatti made to nike last week. i'm not fing around revealed to it's worth more in exposure to blow the lid on this thing. a few million dollars doesn't move the needle with this thing. i'm not f g around anymore. you were in court. tell us what it was like. >> you want to talk about the ultimate fall from grace. michael avenatti used to engage with reporters and used to be the man about the courtroom on one side of the bench and then on the other si

avenatti told nike that he'd spill the beans unless "nike made a payment of $1.5 million to a clientnd agreed to 'retain' avenatti for between $15 and $25 million." ( audience reacts ) he thought nike was going to hire him? bold move. ( laughter ) that's like showing up to your job interview and saying, "what's my greatest weakness? well, i guess i care too much about these photos i have of you and your mistress." ( laughter ) one of nike's lawyers pointed out he never got paid that high of a retainer, to which avenatti asked, have you "held the balls of your client in your hand where you could take five to six billion dollars market cap off of them?" ( audience reacts ) i didn't realize holding your client's balls was a standard part of legal services. ( laughter ) i need a new attorney. ( laughter ) ( applause ) cheering )evehat' calle passing the bar. >> jon: oh! >> stephen: avenatti was ready to act on his threat. he tweeted "tomorrow at 11:00 a.m., we will be holding a press conference to disclose a major high school/college basketball scandal perpetrated by @nike that we have u

when nike became aware of this matter, nike immediately reported it to federal prosecutors."fter avenatti's arrest in new york.. federal prosecutors in california announced charges against him in a ( will ) in national news... the pentagon has approved the transfer of a billion dollars to start construction of a new barrier on the us-mexico border. a full billion dollars could go to building 57 miles of fencing, improving roads and other measures on the border. it follows a fierce battle over the border barrier between president trump and lawmakers on capitol hill. the president declared a national emergency in february in order to funnel billions of dollars to barrier construction. he also directed the use of counter- drug money to partially fund new construction. a group of democrats sent a letter to the acting defense secretary objecting to the redirection of funding. ( james ) a major move by the trump administration could affect millions of americans...and their healthcare insurance. the justice department wants all of the affordable care act also known as obamacare ...