enis, what's the chart look like on oracle?the long-term chart, the five-year weekly is a case of double trouble. 36.50 was an important level, the high in may 2011. it got up there in the past month and failed again on this weak earnings number. support, long-term support coming in around the 200-week moving average of 28, but shorter term at the one-year chart, the 200-day moving average is near term support at 32. i expect the stock to find some support down there like it did this morning, uh be i think it's dead money here. i don't see much of a bounce, i don't see much selling off. >> all right. dead money. steve, what about you? you worry about this sales stumble? >> bill, i really do. i will tell you, the way oracle talked about its sales force, i don't think that those folks today are playing hooky from work and watching the ncaa tournament. i think they're making a lot of calls today. >> you think? >> but i don't know that it's just oracle-specific. i think it might be broader and more about technology capex spending.

was oracle bad more of a sign of what's bad at oracle?>> it is a big government provider. dell is, too. that's hurt dell. this was sloppy execution. deliver, deliver, deliver. are they losing share in the cloud? clearly. they won too many nine-figure deals. at the same time the market says i want to buy that weakness. why is lululemon up? they want to buy that weak fles. looking for caterpillar to bottom today. onshore drillers, one of the weakest markets, he should buy those. things come down, people just want to buy them. >> do you agree with this 1% move on lululemon today? >> that it is up? no. i don't like lululemon. talk about bad execution. they've just been terrible. >> the ceo making some comments, disappointing time for all of us. still have to see where problem is. >> see where the problem is. >> they're still trying to figure that whole thing out with the too-sheer pants. we don't want to call out individual vendors until we have more information. >> doesn't want to trash the vendors. >> the too-see through swimwear that they

his bmw oracle team won the americas cup in february of 2010, and oracle has continued its winning businessowing up key rivals, including peoplesoft, and most significantly, sun microsystems. in 2011, forbes magazine named ellison the fifth richest man in the world, with an estimated worth of 39 1/2 billion. [ticking] coming up, an oil man promotes wind energy. >> how do you know the utilities are gonna take wind power as a substitute for natural gas? >> that may be a mandate. >> so that's a critical point. you may have to have the government demand this happen. >> right. >> suppose it doesn't work. suppose the pickens plan doesn't happen. what happens to the country? >> oh, well, the plan then is foreign oil. >> t. boone pickens' crusade when 60 minutes on cnbc returns. [ticking] so if you have a flat tire, dead battery, need a tow or lock your keys in the car, geico's emergency roadside assistance is there 24/7. oh dear, i got a flat tire. hmmm. uh... yeah, can you find a take where it's a bit more dramatic on that last line, yeah? yeah i got it right here. someone help me!!! i have a fla

let's go back to jon fortt with more from oracle. jon? >> we've got the numbers from oracle. a couple of things before i get to that, she said she was going to guide conservatively. she also said that some of the deals that should've come through in q-3, less experience in salesforce wasn't able to pull in. those have begun to close in q-4, acted like she wanted to sound optimistic, but at the same time said i'm going to guide conservatively. here's the guidance. the revenue range from minus one to plus four. the street was looking for just over 5% growth in revenue. new license in cloud revenue, the range is from 1% to 11%, that's both constant currency and u.s. dollars, the street was looking for 7.6%. the midpoint below what the street was looking for. hardware, this is the big one, the guidance is for negative 23 to negative 13% in u.s. dollars. the street was looking for just slightly down, pretty much flat hardware revenue and a non-gaap eps guidance. the street was looking for 81 cents. so that's right about at the midpoint, melissa. >> all right. jon fortt, thanks so

this is a big pullback for oracle.on't see this kind of pullback really often. >> i really like this stock and don't like a lot of technology names right now. i think it has to set up. no rush to dive in today. >> simon? >> just going to say. don't break out the application side of it anymore, but that's still very much intact. in terms of a legacy company, still the very best name in that space, certainly ahead of microsoft. >> i want to come back at you one second. you said you like the stock, like the company and like where it's going, but today is not a day to get in? you're getting a 9% discount from where you would have gotten it yesterday. why isn't today the day to make the play? >> because when i get involved with a technology name, what i'm looking for are companies that are growing. i think oracle now is probably in a situation where the stock can't have a great movement until they get closer to the next quarter, and it looks as though estimates are intact for, you know, as far as forward guidance. these are

bob mentioned oracle being a drag on techs.asdaq where seema is following the big movers. >> i'll get to oracle in a second. take a look at apple. this stock continues to move in the opposite direction of the markets. i'm calling it the rebel in tech. yesterday we saw tech shares outperform, but apple did not participate in the rally. today we're seeing somewhat of a selloff in tech. and hey, take a look at apple. shares outperforming the pack, up about 1% on the day. gray wolf says i'd rather own apple than the s&p 500 at these levels. we'll continue to watch shares of apple. tech, one of the worst performing sectors on the day. oracle partly due to that. worrying investors on the street. a decline in software sales and subscriptions. jabil circuit, another loser after its forecasts were short of expectations and cisco lower on a downgrade. sue, back to you. >>> we're down 85 points now on the dow jones industrial average. perhaps some of that money is seeking the bond market. let's find out. rick santelli's tracking the actio

where are you now, oracles of the gods? this is the man that oedipus so long avoided in fear of killing him and now he's died a natural death, not killed by oedipus. my dearest wife jocasta, why have you sent for me to come out here? listen to this man. and as you listen, judge how the proud oracles of the gods turn out. who is he? what's his news for me? he's come from corinth with news that your father, polybus, is no longer alive but dead. what's that, sir? enlighten me yourself. if you want me to begin with a simple statement of the facts. polybus is dead and gone. you can be sure of that. was there treachery or the visitation of some disease? oh, with old age, a small weight tips the balance towards sleep. and so the poor old man died of some sickness? and of old age. he'd lived a long time. i'm sorry. jocasta, why should one bother with the hearh of delphic prophecy or the screams of birds in the sky? on their interpretation, i was bound to kill my father. he's dead and buried beneath the soil. i never took up arms ag

then we got oracle. while oracle almost always bounces back, making my charitable trust which owns the stock want to buy more, i have to believe the macroenvironment has gotten worse than we thought. oracle is not that bad a company. you don't want to get too negative either. what could be right? while i don't expect a grand bargain in washington, i think that's off the table, it's always possible and if that happens and you're short the market, betting against it or don't have enough stock, you will be left behind. you will be crushed. you short the market, we get a grand bargain, one solution. second, the brinkmanship game in europe could get resolved with some solution we don't know about yet that works out, one that is viewed as much less onerous than the current plan on the table. that is a real possibility. third, china. they just came out with a bullish purchasing manager's report last night. might actually be roaring back to life. it's difficult to determine. don't laugh though. some of the stock

lauren: how is oracle looking ahead of their earnings release, nicole? >> we're watching oracle closely in the tax realm. we'll see whether or not they have earnings. [closing bell rings] david: best buy up another 5%. that stock can not be denied. as you her the bells are ringing on wall street. looks like the indexes are going to keep essentially where they were before and after ben bernanke began to talk. looked like they were sliding a bit. they stopped that slide. trading this the 50 to 60-point range on the dow. the s&p is doing better percentagewise. nasdaq is doing well. russell 2000, small and mid-sized caps doing well. there are interesting company stories and sector stories as well, lauren. lauren: homebuilders are one of the sectors. among the best performers today on better-than-expected earnings from lennar. lennar as well as d.r. horton hitting new 52-week highs today. david: sort of a bellwether of the economy, what the economy is doing here and as well overseas caterpillar was the worst performer on the dow. it was only down less than 2%

. >> your view on fedex and oracle which are part of your top holdings. are you wavering at all, given the negative reports that both came out with last week? >> no. not wavering on either company. on oracle we think their maintenance business is their most attractive business and believes that business stays healthy. at fedex, it has become underappreciated what a great distribution system they have within the u.s. and they continue to gain share in express delivery in the u.s. we think fedex is also a great business and undervalued stock.

oracle turned in just shy of $9 billion. nonbacked eps of 64 cents. oracle turned in 65. as the revenue pretty much fell across the board, new lifeless and cloud revenue was well light. nongap operating margins, just a little bit light, but still in this. and then the guidance, q4 is oracle's big quarter. this is where wall street was hoping for some blowout numbers, looking for around 11.5 billion in revenue, 88 cents of eps, oracle said, no, we're not going to do quite that well, in fact, guided to just a negative 1 to plus 4% growth in revenue for the quarter. wall street better than 5% growth. new revenue will fall a couple of percentage points short of what wall street wanted and hardware product revenue very much light. the cfo says the problem here is not product, it was sales force execution. some newly hired salespeople weren't able to bring in. she said she's going to guide conservatively. ceo larry emily son said that the turn around in hardware which he had said would come in q4, we would start to see momentum and revenues picking up, now that's been pushed ou

then came earnings issues at three bellwethers, fedex, and oracle. >> this is not ready to take off. the economy is not ready to take off. it does give us pause, maybe across the board. economy is slowing down, at least temporarily. >> ben bernanke did calm the markets yesterday. >> at this meeting, the committee judge says no adjustment. >> today, though, as investors look east to europe and ahead to an earnings season promising little profit growth, 2013's charmed life for stocks seems so yesterday. >> more now on the financial troubles in cyprus where the government is trying to come up with a plan to reorganize its banks by monday. that's the deadline set by the european union officials. if they don't, it could mean collapse of the entire banking sector. as michelle caruso-cabrera tells us, that fear is being felt on the streets. >> reporter: cyprus yet another country in europe where the devastation from the financial crisis is being felt throughout the population. throughout cyprus lines could be seen at the atms of the country's weakest bank, people desperate to take out cash

cisco lost almost 4%, closing at $20.84. >>> and oracle was the biggest nasdaq loser. investors reacted to the warning we told you about last night that oracle's hardware revenue would shrink. the company also said on its earnings called today that its sales staff didn't do a good job on selling on the software side. oracle shares have fell on heavy volume, closing at 32.30, down more than 9.5%. >>> and salesforce.com, on oracle competitor in cloud computing and customer relationship services announced a four for one stock split after the close today. you don't see that very often. sales force was up on the day, ending at $172.73. before it spiked after hours on the news of that split. >>> and air gas, a company that makes industrial gases that other manufacturers use in their processes warned it may fall short in the current quarter because sales fell in february in a key division and didn't recover in march. air gas down over 5%, closing at $97.96. >>> one bright spot today was ross stores, the discount retailer said its latest quarterly income jumped 23% on higher d

on oracle and they're saying only oracle can deliver this back end.on johnson at jc penney, how would you tell him that salesforce.com is better than oracle? >> well, i would point to him to the work that we're doing with some of the most important retailers in the world like burberry. in london, it's like minority report. they'er putting rfid tags on all of their clothes now and their shoes and handbags and when you walk in the store, it remembers you, knows you, knows everything about you and you walk in the store and the whole store changes to reflect you. now, you had to opt into this, agree to this. but when you pick up that handbag in the new burberry store in london, it's amazing. and you put it on this magic plate they have, the mirrors all change to show you how that handbag was made. and how it looks with all the products you've already bought from them. they are reconceptualizing how they handle their relationship with their customers. you can go to youtube and see that video, you'll see that store, you'll see all that. so if you want to se

>> yeah, well, oracle's a barometer in the space. and this is probably going to create some caution in terms of the expectations and overall i.t. spending right now. and, really, the level of priority in terms of i.t. spending. so, obviously, guidance is going to be critical. but this is going to be a little negative for the software space for tomorrow. >> all right. bottom lain here, derek, would you put new money to work right here in oracle at $33.74 a share? >> q4 tends to be their best quarter, so we would be taking advantage of weakness and buying into what historically is a strong quarter in q4. >> all right, thank you, derek, thank you, jon. i'm back with ron insana and rick santelli. ron insana, we for you on earnings, we're hear debating the quality of earnings that we're seeing and what we are going to see in 2013. what's your take on what things look like, based on what you've seen so far? >> well, actually, maria, when i look at the earnings, people are worried about what's going on in china, i think, and this is kind of

we asked you, our viewers, to send in questions for the oracle of omaha. the questions poured in on everything from what can be done about the national debt to how to save for retirement. becky quick sat down with the ceo of berkshire hathaway and here's what he had to say to you. >> susie, thank you very much. we are with warren buffet just outside omaha, nebraska at the fulfillment center for oriental trading. this is one of berkshire hathaway's most recent acquisitions, not the most recent. that would be heinz. but oracle trang was purchased in the fourth quarter back in november for about $500 million by berkshire hathaway. and again, we are fortunate enough to be sitting down with mr. buffet. warren, we've had several viewers from nbr who wrote in and have questions for you. if you don't mind answering a few -- >> let's do it. >> let's jump right in. the first question comes from tim reid who asks, what is your view on the national debt? is it something that can ever be paid down? how important is it to do so? >> yeah. it's not important to pay it dow

anytime you look at oracle, oracle always seems to disappoint me.ry quarter, you know, you would think this is one of the greatest companies in this country, and every time they turn around, they're doing something else and it's kind of like you scratch your head. fedex, the other side, you saw that in transports, that is a disappointment and i'm a little surprised by that. but i think that's a short-term thing. i don't think that's a long-term thing at all. >> in terms of longer term, do you think this economy improves second half or do you think it slows down? >> i think, as a matter of fact, we're probably in the second quarter. you'll start seeing slow growth. but i think as this summer winds, you know, goes through, we'll start seeing some growth again. i do think that by the end of the year, we're going to be not a lot higher, but i think we'll be at all-time highs as the year goes on. probably the the end of the summer, the third quarter going into the fourth quarter. i'm positive. >> so bill, because the s&p capital iq estimates call for 0.6

you know these names, oracle and jabil circuit. oracle down more than $3.t pressure has been consistent throughout the trading session today, jabil circuit is down 87 cents. one of the best performers on the s&p 500 today is ross stores, getting an earnings bump after a strong fourth quarter. and that stock is up, rost is the ticker, that stock is up more than $2 right now. let's get right to our floor show. we've got graders that are standing by -- traders at the new york stock exchange, the cme group and, of course, the nymex. doreen, hello to you. i'm curious overall what you're looking at at this point in the session. we got the fed yesterday, today, you know, the economic data seemed pretty positive, now we're down 61. what's going on? >> i think the economic data's pretty mixed. the initial jobless claims, i don't think the jobs numbers were fantastic, they were kind of right in there. but the market looked very, very tired the last couple of days. i think we're starting to see lower highs, and i think we're starting to really kind of consolidate in s

we're all watching oracle's big slide, but a lot of other companies falling off the back of oracle'sinting results. you did see some options activity there? >> it was interesting. we saw sellers of the april and buyers of the 87 and a half and 90 calls. normally you think this is a bullish bet, but it wasn't here. this was a trade put on against a short position in the stock. so when you have that trade o you benefit when the stock goes down to that lower strike. this is a trade that will be profitable if the stock declines another 10%, which i would have to take away as bearish bet. >> definitely. let's go on and play good, bad, and ugly. first the good, last month keith gave his thoughts during a round of hops and drops. >> fantastic new home sales news. at the end of the day, that's a tough head wind that people thought would be oncoming, but it's more of a tailwind. huge day for the sector. >> nice call on that one. up 17% since then. keith, what do you do? >> i stay with it. i think the housing stocks. the question on housing stocks, are you bullish enough? from a price supply d

they missed the earnings on oracle and also on fedex. i hear what you're saying, in the land i'm living in, economic data looks pretty good. >> no, because the only reason unemployment rate has been coming down is so many workers have left the workforce. if you had held the workforce constant since the beginning of the recession, we debated a 10.8% unemployment rate. so when the real workers still starving for a job, for income, and those one offs we talked about, as you get more and more one offs, yes, they've been described as one offs, but as you get a series of one offs, they won't be one offs anymore. they'll start to be a trend and i think that's what's going to drive the market lower. >> hey, barry, on top of what my friend simon is talking about over here when he's talking about the data that's coming out that seems more positive. why are we not seeing the sentiment that you're talking about that turn sentiment at least starting right now? not reflected right now in the volatility index where people are putting good, hard money t

in quarterly news, oracle fell short of wall street targets. the cfo says that macroeconomic forces were not a factor here. the company warning that its ailing hardware business will lose more ground this quarter. shares fell on the news in the after hours. we're going to be talking to an analyst this morning who covers oracle. that's at the top of the next hour. in other technology news, hewlett packard shareholders have re-elected the company's board. the chairman, ray lane and three others narrowly kept their seats. they had been criticized for their roles in the batched $ 1 billion acquisition. but, again, the board was re-elected. >>> boeing plans to conduct two flight tests of its revamped 787 battery system as soon as the end of this week. the plane has been grounded since january and, joe, i'll send it over to you for more news. >> i he like that with oracle. think if you were one of the salespeople. >> there are thousands of new people that have been coming on board. they worked getting things as quickly as the third quarter. it was in

oracle, hewlett-packard, sap, they are all sniping on who is doing well. last time accenture reported it was not a good number, but the company stock rallied anyway. given the weakness and the rest of the group, i would rather ream the register ahead of the quarter and then you can go back. then there's the earnings from the most controversial company that people can't stop talking about, i don't have one, so it does not affect me, but it may affect you so i'm talking about this, the new blackberry. the new blackberry went on sale today. i think blackberry is a lot like best buy and bed bath and to a certain hewlett-packard. i call it the three b's, and you probably won't get that on the show, but that's okay. my nephew likes the show and there's more to it. anyway. those were all left for dead, okay? at leopard dead stocks, i would be a buyer of blackberry thinking the franchise is intact. what makes me intrigued? it got hammered today as word got out that the launch was soft. now, what is this about -- we have had five minutes of launch. that's okay, we'

. >> oracle is going higher, i'll tell you why. great recurring revenue stream.ve pretty good clarity in terms of earnings are going to be. operating margins have been improving, will continue to improve. look at the quarter they reported back in december, and i believe these guys are the best m&a firm on the planet. yeah, they've had a few misses along the way, but they integrate better than anybody else out there. that's how they grow nonorganically. and look at the valuation, it's not rich. this is a stock that continues to levitate, i think it will continue to. >> enjoying those arguments by guy. however, let me tell you why i'm bearish on this. and it's really the macro call. top of the show i talked about business inventories increased highest since 2006. the global economy is slowing. this stock has risen so much and up to $36 that any hiccup in the global economy and jour going to see capex coming down at companies and that's going to impact the bottom line at oracle. 36 seems to be a formidable resistance and finally i'll go jeff goodlock on you and say

the parking obviously is it's a lot less than the warriors have at oracle and i wanted to make one point on that that we did do a survey of parking use during the season and we found that the highest point of the use of the oracle parking lot was 5,000 cars and when you think about oracle those that know the site pretty much capture every car that comes to a game or event and there is no where else to park there and it's interesting to think about that compared to our site you have more than bart. you have cal train and the walkablity of the site and muni and walking. as it relates to our parking the 630 spaces that we are currently proposing serves a mix of players, personnel that's necessary for both the warrior's operation as well as the arena operation as well as some ticket holders for the events. >> certainly the design -- i mean how that works with the retail and open space does a great job in minimizing the impact of the parking. just on the open space too there wasn't a lot of this in the presentation and i know there was talk of making it active 24 hours or 12 hours especially

in the end the dow gained 56, nasdaq up 25, s& p goes for 11 points,gold down 6 and oil up a $1.08 oracle shares took a hard hit last last night, falling around 5% after missing on revenue. and according to a report.. cvs requires its workers to disclose their weight when applying for health insurance or pay a $600 fine for coverage. the company says its insurance program is evolving. joe cusick of optionsexpress joins us now and talk about some fallout from the fed. the market had a rally going and was able to hold on to that rally. what do you think is likely to happen today? will there be follow through? > >it's gonna be very interesting. we're going to watch that existing home sales number because as you know and as we always talk about housing as a very large component to this recovery. the fed did speak. they're using one of the measuring sticks of how they're gonna keep this liquidity going which is unemployment. that 6 and a half percent mark is where we're looking. we are not there yet by any means but again, we're gonna watch that existing home sales number coming out this morni

the raptors have not beaten the warriors at oracle arena since 2004.ting from oracle arena, henry wofford, nbc bay area. >>> henry, thank you very much. giants visiting the white sox. a little cactus league action. deep to left. bottom of the fifth, the giants down 5-2. the former giant, knocks an rbi single to right. up 6-2, that would be the final. how about the a's and the angels playing in the cactus league. a's down two, bases loaded. a three-run triple into the right field corner rattled around down there. take a 3-2 lead. runner on second. josh redick with a double. that is deep into the left center gap. a's win 13-5. and that will do it. we'll have warriors/raptors highlights at 11:00. new number one in college basketball, gonzaga. that will do it for sports. back to you guys. >> thank you, jeff. we'll see you at 11:00. for a full half hour you can watch sports net central at 10:30. >>> are you on the list? the forbes billionaire list is out and it's bigger and richer than ever. in total the group is worth $5.4 trillion. in the top spot is mexi

. >> coming up, oracle and fed-ex, two corporates report disappointing earnings. >> and hot houses. more good news on housing sends home building stocks higher. we'll look at whether or not there's a thaw in the mortgage market as we continue our stream guide. all of that and more ahead. >> so, tyler, all about the federal reserve and the economy. >> and cyprus in there for good measure. it was a very busy news day. we're here to tell you all about it. the federal reserve did it again. says it's going to keep interest rates where they are, near 0%. and it also says it's going to keep up its bond-buying program. the markets like what they heard from the fed along with a pledge from the new head of japan central bank about its own bold, easing measures to be unvailed on thursday. as a result, stocks moved higher here about. the dow touching an all-time intraday high. the blue chips did close 56 higher. nasdaq up by 25 and the s&p 500 rose for the first time in four sessions adding 10 points and taking us to within a few of an all-time high. steve leaseman tells us where we go from her

when i put that together with tbix, oracle, i see the slowing in the earnings picture. going into the second quarter, i would be concerned the market is a little ahead of itself. >> were you ready for the rally, b.k., surprised by it? >> listen, i have been surprised by this rally -- you mean just recently? i have been surprised by the rally for the last few months. >> for the last few months, it has continued to climb the wall of worry. all the things you and others mentioned, the market doesn't seem to care. >> the most frustrating thing for the market and people like me is it is not necessarily responding to the economic data. we saw gdp weak this morning. >> well, you can make the argument, though, that it is not just the economic data. it is not just the fed greasing the wheels here. the economy here and the fundamentals have improved a little bit, right? >> if you look at this morning, the gdp, the chicago pmi -- the chicago pmi is a leading indicator. >> in the last couple months, they have been very good, you can't point to the pmi has a negative, no way. >> we

oracle, the world's third largest software maker came in shy as new software sales sell. on the numbers, oracle shares took a big hit. >>> and the other miss, fed-ex, the company reported weakness in international market as well as customers choosing cheaper options. >>> with us now, more analysis of the fed decision and on the outlook for the economy in light of those numbers. chief economist at gold mab sachs. between those following the accident- that there are still downside to the economy. do you think that policy has made the right move today? >> i think so. i think, in general, the moves that we've seen over the past x months have been quite helpfu the further move in the direction of trying to get the economy back onto a stronger trajectory for the labor market, more rapid labor market improvement and i think the message from what they did today is, you know, for the time being, stay the course. of course, he's not willing to commit what, you know, what's going to happen in the future as far as the quantity of easing programs are concerned. guns, there's still qui

doubt a let- down following monday night's big win over the lakers two of the all time greats at oracleill russell and jerry west sitting court-side together - west a part of the 1971- 72 lakers team that won 33 straight warriors kings two of the all time greats at oracle tonight.bill russell and jerry west sitting court-side together 2nd quarter andrew bogut the pick and roll with steph curry and bogut throws it down 37-36 kings bogut: 12 points, 9 rebs, 4 blocks but isiah thomas was the best player on the floor tonight thomas hit seven 3-pointers in route to a game high 31 points sacramento has the worst road record in the nba but they handle the warriors for the third time in four games this season final: 105-98 kings heat at bulls lebron james and the heat denied their 28th consecutive win tonight by carlos boozer and the chicago bulls boozer with the key offensive rebound and putback with less than a minute to go boozer finished with 21 points 17 rebs the bulls win 101-97 the heat's winning streak is snapped at 27 straight games, six shy of the all time record lebron the sharks off

oracle will be a big number.ple will focus on this, because of that market share as well as because it's going to set the tone on technology. we're warren myers. >> what do you make of what today's rally is all about? >> i think once again, it's a very impressive up day. we heard the fed minutes, we heard bernanke speak. a lot of blame going to the fiscal policy and a few other things. >> a couple of zipperingers the congress. >> which is actually kind of nice to hear. at the end of the day, my opinion is the fed has invested so much money in this support and bailout, whatever you want to call it, that they're going to err on the conservative side. they're not going to pull the plug or raise rates too quickly. and because of that, i think the riskier assets are the place to be, for as far as the eye can see right now, and i think that's positive for the equity markets. >> look at this market right here, 46 points, well off of the highs. what are you seeing at the end of the day? buy on the dip mentality. >> we've

oracle, no good. nikcle cle is good.yprus is looming. >> i think you understand that the macro is getting very confusing. i think in this environment you don't do it. you break it down by sectors. a lot of the sector calls we've heard over the last couple wekts have been go after materials, go after technology that are lagging. they're going to come around and outperform again. i disagree with that. if you look today, the s&p 500 new 52-week highs, 36 of them 18 are consumer staples. i am adding to my financial names, american express, michael kors h but i want to be in consumer staples, in financials. i want to be what's leading the market right now. i don't want the commodity materials trade. >> put this into perspective. you could find a story that works for you this week. >> you can. and what's surprising to me is that the market is so strong going into the weekend with the deadline for cyprus right upon us. i would have to expect that the market is going to sell off, weaken a little bit, not go negative today as we

oracle is one of the reasons of the drag on the nasdaq. and the transportation average is one of the reasons that we're seeing the drag here with the transports now down 110 points. art cashin joins me to talk about this. how much is the transport points and data points are we getting here at home and how much of it is still cyprus? >> i think it's a combination of three things. number one, what we got yesterday in regard to the transports, fedex and then also you got caterpillar indicating maybe the global economy, and that means fewer goods shipped even by rail and otherwise. we got kind of lousy data out of europe this morning. and now i think we're running into a problem in cyprus because it's becoming more and more evident they probably can't reopen the banks on tuesday. and the worst part of this is it's out of the hands of the negotiators and into the hands of the people. >> and that is in a nutshell what's affecting the markets. that will do it for us on "power lunch." ty, see you in just a little bit. >> terrific. hurry back home.

that they downgraded oracle. fargo, bank of america and merrill lynch think it is a by opportunity. bank of america and merrill lynch oracle weakness is a buying opportunity. back to you. connell: thank you very much, nicole. the first man ever seven years ago, he has more than 2.2 million followers. dagen: i was close. bring it, people. more good news from the housing market. coming up, we have the ceo of dirk shirer hathaway. he will be talking all about it. connell: taking over the mobile industry. we will have that coming up a little later on from shibani joshi. first, let's take a look at world currencies. let's see how everyone else is faring against the dollar. we will be right back with much more on "markets now." ♪ ♪ [ male announcer ] how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds bea

two big companies had disappointing earning, oracle and fedex. i like u.s.s and i like companies that do a lot of business in the u.s. and north america. you saw the transports get hammered but j.b. hype didn't. they rolled off of fedex, those with business here in north america, like j.b. hunt, i like those. >> they are firms that are competing well in the committee and you mentioned a few of them. there's traction in the u.s. committee right now, we are seeing it out of home building. i think with fedex, a lot of it is a global issue for then also. but if you look medium term right now, there's good firms doing great business. >> bernanke did say at different moments in that press conference, he said stocks are not over called in relation to inflation. right? because we have not hit the real peak, it's about 20% from here if you adjust for inflation. we have had had a nominal peak and it's not over valued in terms of profits or the gdp of the economy. bernanke is kind of saying, go ahead and buy more stocks. i want to ask what you think of him saying that.

$24 billion of oracle's market value in one day. billionaire cofounder larry el r lisson took a $3 billion hit. he's easily in one of the top spots as the third richest americans. >>> good news for blackberry. the department of defense reports they are ditching blackberry for apple iphones are not true. >>> american airlines is testing boarding procedures to allow passengers without carry-on bags to board ahead of folks in coach with roll-on bags. >>> after the horsemeat scare ikea said their meatballs are headed back to stores. >>> american eagle -- okay -- gets props for the brilliant ad scheme spoking fun at the skinny jean craze by having a spray on can. 200,000 people were fooled into trying to buy that paint on spray online. who would wear e that? >>> if you're in a market for the ultimate man cave check out this atomic bomb shelter for sale in florida. it is 7,000 square feet of solitude for yours truly. i would love it, too. it will cost you about half a mil. i'm not willing to spend that. >>> the march madness bracket buste

oracle's share taking a hit, shares are now down 9.5%.liner this weekend. regulators grounded the planes because of a faulty battery. lululemon expected to make that money after the shipment of the yoga pants. lululemon stabilizing. coming up next, charles telling you how to make some money. 90 seconds away, a pot of gold. thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can create the future... by clinging to the past. and with that: you're history. inead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. stuart: existing home sales up 10.2% after 11.6%, prices were up 11.6% year over year. let's go to charles, shall we? making money with a videoconferencing company. charles: every conference room in america has those conference call machines. i think this is an amazing value play because you can do it all on your cell phones. they have

buffett himself and oracle's larry ellison. still to come, how a tip-off from march madness can bring a bounce to your finances. that's later. but first, why boomers are taking more than baby steps toward owning a home. a shocker from the housing sector is next with bill moller. this might surprise you: there is really a booming number of boomers who are becoming first- time home-buyers. it's a fact. what's behind this? let's talk with ryan gable. he is the founder of a realty that for almost 10 years has been focusing solely on the first- time homebuyer. now, we typically think of the first- timers as being a young couple, some people in their 20s. > > yes. all we deal with are first-time home-buyers, and what we have noticed over the past few years is that the group over 40-years-old takes up about 20% of our market. > who are these people? were they previously renters? > > pretty much all of them. what has happened is that they have gone through some sort of a lifestyle change. a big one is maybe somebody that has gone throu