and it wasn't all bad news for nomura, either. we'll take a closer look at they books when we come back. >>> and these are the headlines from around the globe. costly cleanup for europe's biggest financials. deutsche has a bigger than expected fourth quarter loss because of restructuring and legal charges. >>> and santander shares toxic real estate assets. >> in japan, the stock market rally helped boost banks options in the third quarter. nomura is up ten fold. >>> profit taking is the order of the day in briton as the giant fell short of expectations and astrazeneca is warning of a tough year ahead. >>> and nippon airways sticks to its financial outlook despite canceled hundreds of flights as its net quarter profits rise 40%. >> we're down to session low for european stocks. it's all about the earnings rather than the headline move. santander dragging down the ibex and other financials. 1.7% lower. >> and if you're wondering what's going on with the ibex, take a look at what's happening with spanish banks. down 3.4%. even credit

nomura cut the price target. they reduced to 530 from 660. right now 487.16. lowest levels since basically february of 2012 and obviously they had to cut their supply orders. back to you. tracy: you said yesterday, ubs kept their 700 target as well. people still have confidence in apple. lori: maybe an entry point around below 500? so back to the debt ceiling. a lot of people just want to tune out, turn the channel. but it is really important because interest rates are at risk of a shock mode going up sharply higher. so it is really important. house republicans right now struggling to come out with some kind of a strategy to tackle the debate with the president. they canceled their weekly caucus earlier we learned. the focus shifts to this week's gop retreat. rich edson with the latest on the capitol hill negotiation. rich? >> good afternoon. republican leaders assemble ad man you of options they for their members in williamsburg, virginia. one. items is delaying implementation of president's health care law. savings would go to decrease the debt ceiling. ther

the losses were designed by a contract that was apparently designed by nomura. adding some nervousness, this bank has been focused centered around the health of italian banks generally speaking. nomura is out saying its derivative trade with a approved at the highest level within the bank. it says it was reviewed by external auditors kpmg, that it acted fairly and responsibly and it was one of several banks to approach derisk positions held by monte paschi. lots of different elements of this story to follow. we're getting the results from spain's latest debt auction. we want to bring you those, as well. three-month and six-month t-bills, it has raised $1.2 billion euros earn 0.5%. that compares with a yield of 1.3% in mid-december. for the sixth month, it has raised a yield of 0.9 the% versus 1.7% in mid-december. high bid to cover ratios on those two, over four and three respectively. so let's get some reactions from tim skeet, managing director at rbs. welcome. >> good morning. >> thoughts here? spain getting plenty of demand for short-term paper. >> yeah. for

on the one hand nomura cutting, and stern and baird buy on the opportunity.ly going to beat the street with earnings per share, so, three analysts talking positively, it's a push-pull. stuart: i've got chris still with me, would you care to issue on 492 apple. >> yes, i'm going to buy it because it's so beautiful, apple is something something that i use, obsessive about, i think it's fantastic. stuart: all right. i've got to disclose, do you own it? >> i do. stuart: and by the way, i've got a new ad from coca-cola, it addresses obesity, including the high sugar levels in many of coke's drinks. roll the ad, please. but beating obesity will take action by all of us, based on one simple common sense fact. all calories count, no matter where they come from, including coca-cola and everything else with calories and if you eat and drink more calories than you burn off, you'll gain weight. stuart: oh, yes, you will. and critics though are calling the ad damage control. an attempt by coke to counter the widespread belief that sugary beverages contribute to obesity. h

brokers like nomura holdings were also higher today. back to you, kelly. >> great. fushika, thank you very much. >>> the first full year budget compiled under shinzo abe, tokyo still needs to depend on borrowing to cover nearly half of its spending. together with its extra stimulus plan signed off earlier this month, the budget will likely push japan's record budget debt even higher. >> nissan saw shares push to their highest level in more than 4 1/2 years. the project will cut technology costs and ames to produce the first vehicles within five years. as you can see there, shares up better than 4% today. >> interesting looking car. >>> there seems to be healthy interest for shares of china's biggest banks, itbc. goldman sax $1 billion share sale of the bank wag was oversubscribed between one and two times. in response, shares dropped 2% as you can see -- yes, that doesn't say dropped 2%. >> no. looks like it's up about 0.2%. >> disregard what i just said. >>> chinese workers have been flocking to resource rich emerging markets across africa and latin america. our ne

utilities stocks tumbled after nomura securities downgraded its ratings on some power utilities companiese chinese bust the trend ahead of trade numbers and cpi data due later this week. the shanghai composite gained a modest .4% to close at the highest level since june 2012. health care stocks rallied after china's premier over the weekend urging investment in medical innovation. but developers left the announcement for companies involved in housing projects. the shares outperformed in the market. the sang second ended flat near it's year high. meanwhile, the australian markets took a breather after the recent rally. as much as 9% after e-mails claimed a miner has lost funding for one of its project, but it recovered most of its losses after refuting the claim. back to you. >> thanks for that, sixuan. that's where we stand then before the u.s. kicks off today. kevin gardener is head of investor strategy at barclay's. happy new year. >> happy new year to you, as well. >> we've got rid of some tail risk in the short-term. we did go over this cliff, but not very much, temporarily in the u.s

. >>> and for the first part of this half hour joining us is george from nomura. george, is the markets going to be happy with mr. lew if that is indeed the case? >> well, we're in the middle of a fiscal kind of discussion. we got through the fiscal cliff. we still have to deal with the debt ceiling. we've surpassed legally the debt ceiling. now we're operating on these extraordinary measures. but it could be a critical decision. our focus on the economic team is critical given there's concerns over the long-term fiscal health of the company. overall, the markets are going to be cautious in thinking about, you know, it's an awkward time to be doing this transition, but it has to be done. >> yeah. meanwhile, i mean, we haven't seen treasury yields getting up to 1.9%. they have started to come back down, george. with that is 1.9, is that sort of the top of the range? if so, what is the range that we're now in? >> well, look, i think, you know, the market started out the year a little bit too worried about the fed minutes and thinking that the fed would take away sti

kn nomura lowered its tries target to $12.tock since mid november, up just about 40% since that time. risk/reward outlook does not look positive. if you're patient, 18 to 24 months out, we could see the stock in the mid teens, but right now they are at a neutral on this stock. and again as you can see, down 3.6%. david, back to you. >>> coming up, dan niles was shorts shares of facebook back in may. now he says the stock is his number one pick from 2013. why the change of heart? he'll explain next. s if ♪ [ male announcer ] how do you turn an entrepreneur's dream... ♪ into a scooter that talks to the cloud? ♪ or turn 30-million artifacts... ♪ into a high-tech masterpiece? ♪ whatever your business challenge, dell has the technology and services to help you solve it. how did i know? well, i didn't really. see, i figured low testosterone would decrease my sex drive... but when i started losing energy and became moody... that's when i had an honest conversation with my doctor. we discussed all the symptoms... then he gave me some