phil lebeau, "nightly business report," chicago. >>> and now to valeant, whose ceo, fresh from medical leave, faces numerous problems from death to federal investigations and recently delayed the earnings report due out tomorrow. meg lays out the problems facing the ceo michael pearson. >> reporter: three months since the street heard from mike pearson and investors will be listening closely tomorrow for clues about the drugmaker's future. his return at the end of the february from a two-month medical leave of absence recovering from severe pneumonia and other complications. analysts say he needs to make sure that the company has no more surprises in store. valeant's stock has lost more than 60% in the last year after a series of seemingly never ending setbacks. scrutiny over federal investigations, accusations of accounting fraud and finally pearson's illness. the return brought negative surprises. valeant postponed the fourth quarter earnings release and conference call and the s.e.v. filing on last year's results will be delayed even further. news of another federal investigation ca

phil lebeau has more on the camaro comeback. >> reporter: top down, engine roaring. chevy believes this will be the summer camaro comes back. leading the charge, two new versions, including a convertible. >> the first month in here our sales are up 44%. we know why people are waiting for the new for. when we introduced the new car it was like, wow, this is great. >> reporter: the camaro still has the sound and look that he wanted it define the muscle car. and yes, you can get six and eight-cylinder versions. but in a change that may assemble strange to camaro fans there's a new addition with a four-cylinder engine. with gas at well under $2 a gallon, chevy believes muscle cars will be even more attractive. not only because people will spent less at the pump, but they'll also have more money to pay for a muscle car like the new camaro. >> in order for these new vehicles to survive they've got to get repeat sales which means the woman or guy that has one today has to feel good enough about that ownership that in two, four years they're going to buy again. cheap fuel ma

phil lebeau, "worldwide exchange," new york. >> phil lebeau for us there. >>> still to come on "worldwidexchange," big upsets in sports this weekend. our own eric chenning will bring you the latest in "worldwide exchange." we're back in just a couple minutes. >>> welcome back to "worldwide exchange." if you're just waking up, let's get you caught up on the early market action. u.s. futures pointing to a sharply higher point. dow futures up 57. s&p up 9, nasdaq up 21. this comes off a week in which stocks snapped their gains. after five weeks strong they closed lower last week, about 0.5% across the major indices. >>> in sports, the final two spots in the ncaa men's final four were up for grabs sunday night. all four teams vying for a chance to play in houston next weekend, coming from the same conference, the acc. the top seed north carolina taking on notre dame. the tar heels got a run in the second half with nifty defense turning into instant offense. carolina pulls away beating the fighting irish, 88-74. to advance to the school's most in ncaa history. >>> top seed virginia take on top

phil lebeau reports from dana point, california. >>> for cadillac, x marks the spot, as in the xt-5.he brand's newest model designed to make luxury buyers think once again about buying a caddy. >> i'm proud to say that cadillac brand today is absolutely resurgent. and we are on a mission to take this brand back to what i like to call the pinnacle of premium. >> this is the new cadillac xt-5, a mid size suv. why is this so important for general motors and for cadillac? mainly because cadillac has not been very competitive when it comes to luxury suvs. from lexus to bmw to mercedes, suvs now drive the luxury auto market. in fact, it's one reason bmw and mercedes have outsold cadillac since the recession seven years ago. >> the market for suvs was really strong, it was growing, everybody saw it. and they haven't addressed it. the srx is way long in the tooth, way overdue for being replaced. they also have some voids. they need a smaller sport utility vehicle, so they have got to start introducing a lot of new product and keep it very fresh. >> lighter and quieter, with a refined interio

phil lebeau, "nightly business report," new york. >>> those low gas prices that phil just mentioned are due to historically low oil prices. today the price of crude settled back below $40 a barrel down 4%. as stockpiles soared to record highs for a sixth straight week. that rekindling concerns of global supply glut. and it's not just the energy industry that's feeling the impact of low commodity prices. as morgan brennan explains, one business in particular is feeling a bit down in the dumps. >> reporter: the commodity downturn is taking a toll on an unlikely industry, recycling. >> here you have aluminum cans you can see all digit varieties and this sells for $1,100 down from a ton, down at the peak we were selling this over $2,000 a ton. you can see pretty significant decline in commodity prices in all of these grades. >> reporter: at a storage facility in newark, new jersey, race management's tara hammer says whether it's aluminum destined to become beer cans, cardboard paper to be reused in packaging or plastic finding another life in astroturf, the market for recyclables has crater

phil lebeau with the developing story on volkswagen. what does it do for the landscape of the industry here? >> i think it's a really interesting time. auto is one of the biggest moves, industrial names and key levels on ford. the difference here is these cops have very cute valuations. the fundamental business, auto shipments minus 8%, seen the auto loans newspaper. none looks terribly good, not extensionive companies and have good dividends. >> i lost yields and gm checked in the other day, a few options buyers in there. if it holds on to 30, i think it goes to 32 so i'm looking at it right now. love the yield and valuations are ridiculous. >> i think they both trade at six times earnings for a reason. something is going on. still down 20% and we know that the monthly sales have been great and a lot has to do with the fact that they have been picking up a lot over volkswagen the last two months but to me you see them back at the lows from january probably before the market -- >> i'm shocked to hear you say that. i can't argue with tha

phil lebeau has a look. >> reporter: as winter winds down, spring break is heating up. especially in the caribbean where those looking to get away are finding their way to less popular spots. >> a lot of people now are looking for alternatives that may be a little more laid back, relaxing. places like playa del carmen, riviera maya, where they may not pay as much and have a little different feel. >> reporter: orbits says airfares this the spring are down roughly 15% compared to a year ago, partially because of the drop in fuel costs and because more airlines are adding routes to the caribbean and that's pushing fares lower. that's the good news. the bad news? hotel rates are edging higher. largely because of greater demand. >> they'll see a slight increase overall of about 4% in come edition prices. but there are markets where there's actually substantial savings. >> reporter: europe remains a popular trip for a couple of reasons. first airfares have been falling. second, the euro remains weak, which means americans are getting more bang for their buck at hotels, restau

phil lebeau is live at the event. phil. >> hey, melissa, the new york auto show has long been known as the place to seat newest luxury model. well, we've got a couple of high-end models that we're going to show you in just a little bit. when "fast money" returns, you want to see what the models are all about and the outlook for the auto industry. g in touch wi. at&t can help you stay connected. am i seeing double? no ma'am. our at&t 'buy one get one free' makes it easier for your staff to send appointment reminders to your customers... ...and share promotions on social media? you know it! now i'm seeing dollar signs. you should probably get your eyes checked. good one babe. optometry humor. right now get up to $650 in credits to help you switch to at&t. came courtesy of james and patricia thompson. this tv? margaret and tom lee. the championship game ball? that was sebastian diaz. good guy. and all i had to do was ask for their money and pretend i was investing it. their life savings is now my lifestyle. female announ

and phil lebeau with the task of checking out some of the world's hottest new cars. phil?brian, we're going to be talking about jeep when we come back from the break. it is the hottest brand going right now. and the man who has overseen the growth at jeep, mike manly, he joins us on "power lunch." new jeeps are coming and the future of growth for jeep. here at the td ameritrade trader group, they work all the time. sup jj, working hard? working 24/7 on mobile trader, rated #1 trading app on the app store. it lets you trade stocks, options, futures... even advanced orders. and it offers more charts than a lot of other competitors do on desktop. you work so late. i guess you don't see your family very much? i see them all the time. did you finish your derivatives pricing model, honey? td ameritrade. >>> all the world's hottest new cars are in manhattan now. showing off their latest models with models. does the industry have a bit of a leaner year in store this year? phil lebeau standing by with the ceo of jeep, and a first on cnbc. >> thank you, brian. i'm joined by mike man

phil lebeau is with us from the auto show. il. >> reporter: the new one is called the prius prime. here's the head of the north america division talking about why they believe the prius still has legs and can grow sales. >> this is a vehicle that can go 22 miles on all electric, have an overall 600-mile range vehicle. so it's the most advanced prius we've ever built. >> you're coming out with this at a time when gas prices remain very cheap and it brings into question. is there a demand out there for hybrids? >> i think there definitely is. we've got 13 hybrids in the marketplace. hybrid owners are very loyal to hybrid. it's going to assist with those drivers today. if you look at the price of gas, i'm in texas. it with us down to $1.39. it's up to $1.89. we all know it's going to fluctuate. >> what about the refresh model? >> it's hitting dealerships now. you're right. wi saw prices decline. fuel prices are a part of that. in the case with us, we're 60% in the marketplace. prius was five years old. i think that has a lot to do

phil lebeau joins us now from california this morning. ou're coming up, phil, and sometimes i do it just because i know you're coming up, waiting for your hit. if we took a shot of you, you would be going -- anyway thanks for joining us. i know it's early. >> reporter: it is early but we're glad to be here. behind me this is the xt-5. here's the reason why this is important. take a look over the last seven years at the growth in luxury auto sales when you compare cadillac with mercedes and bmw. cadillac sales have increase ad little bit but nowhere as much as mercedes and bmw. why? mercedes and bmw have much more extensive and crossover lineup. now with the xt-5 is this beginning of several crossovers and suvs that cadillac will be rolling out. this goes on sale next month starting at just under $40,000. the issue for cadillac is this. while sales were up it's suv sales even with an ageing lineup anchored by the srx and escalade they were up 24%. now the challenge is to consistently roll out new models that benchmark and do as well as the

phil lebeau joins us.er, bill george weighs in on our jim cramer suggestion earlier today that bill george become a monitor over valeant pharmaceuticals. does bill want the job? we'll ask him coming up. today. all across the state, the economy is growing, with creative new business incentives, and the lowest taxes in decades, attracting the talent and companies of tomorrow. like in buffalo, where the largest solar gigafactory in the western hemisphere will soon energize the world. and in syracuse, where imagination is in production. let us help grow your company's tomorrow - today - at business.ny.gov hii'm here to tell homeowners that are sixty-two and older about a great way to live a better retirement... it's called a reverse mortgage. call right now to receive your free dvd and booklet with no obligation. it answers questions like... how a reverse mortgage works, how much you qualify for, the ways to receive your money... and more. plus, when you call now, you'll get this magnifier with led light absol

start of the new york car show to get a look at the latest vehicles and that's where we find our phil lebeauis year's highlights. what do you see there, phil? >> a little luxury and a little fuel efficiency and, yes, a little star power here at the new york international auto show. let's start first off with luxury. check out the porsche macan. i've seen, it been out for a while. you know what? this is the four cylinder version so, yes, it looks like the other versions of the macan but it's a porsche four cylinder and it will be coming to the market in july. price tag for the base model, keep in mind it's the base model, just under $50,000. fuel efficiency, this is an important car for toyota. it's the prius prime. the prius prime will have -- it's a plug-in electric hybrid version. first 22 miles all electric. the range, when you go with the gasoline in addition, 600 miles. it goes on sale this fall and remember prius sales, they were down last year, first time in many years under 200,000 in sales in the united states. they are hoping to pop it over that with the prius prime. finally the li

phil lebeau joins us with more. >> this is getting a lot of attention because we have seen a growth in the number of sales to those who have subprime credit ratings. some of the weakest consumers out there in terms of the ability to make their monthly auto payments. fitch is out with a new report saying in february, 60 day delinquencies of subprime loans that are in -- that have been packaged together in a bond, they're at 5.16%. the highest rate since 1996. by the way, february dlenk win delinquencies was up. fitch tracks auto loan bonds, bonds that are backed by auto loans where they package them together and sell them in a bond. 38% of those auto loan bonds are subprime, but here's the thing to keep in mind. that's just the bonds that are in -- where they're packaging these together. you look at overall auto loans, subprime borrowers make up 0.78% of all auto loans, that comes out to $7.8 billion worth of loans in a market of almost $1 trillion. the concern being, as we have seen auto sales increase at a very steady clip over the last five years, is there a concern that perhaps the

here is phil lebeau live in chicago with that story. t if i told you maybe five years from now any vehicle you're in will automatically hit the brakes, even if you're not paying attention, which would dramatically cut down on rear end accidents. that is the announcement that came today out of washington. 20 automakers have agreed they will develop a standard and make it standard that we have automatic emergency brakes in all vehicles. we tested this at the insurance institute in virginia last year. currently you can get this type of technology on select models, it is going to be standard by 2022. here is the head of the national highway traffic safety administration. >> too often safety efforts especially in the past have been determined by what government could force manufacturers to do and what manufacturers could avoid doing. in a world where we lose more than 32,000 lives a year on the road, that approach isn't good enough. >> all right, so what does this mean in terms of cutting down on the number of crashes, injuries, deaths on the

david faber and phil lebeau will join us. >> i think we got him even to come down to the stock exchange>> just flew in. >> you can see on screen, just breaking in the last hour, whitney tillson is back shorting lumber liquid ators, he'll explain why the shares are down another 9%. it was about a year ago that that first 60 minutes report about the harm potentially done to folks about this flooring came out. it's been quite a saga. >> then covered that short position of his in december but put it back on again. we'll explain why coming up in a little bit. let's start with the today's move in energy and materials, the stocks. bob pisani joining us. >> thank you, goldman sachs, we had material stocks going and this morning they put out a note pouring cold water on the idea of further rallies. here's what they had to say, oil supply and demand is not in balance and don't pretend it is. a rlly now will prove self-defeating as it did last spring. don't repeat the same mistakes of last spring. same with the metals, rallies in the metal stocks are not supported by the financial environment in c

phil lebeau joins us live from that show with a first on cnbc interview. phil?robertson, board member for bmw. we're going to talk about the m-768 x-drive, but i have to start off with what's happening in europe. you left right before the explosions in brussels. you don't have a plant there. what are your thoughts about the impact this might have there? >> clearly at this moment in time, the security is all over this issue. our thoughts are with our own people as well. yesterday i didn't know whether any of my team in brussels was involved. we had four of our team at the airport yesterday. thankfully, they're all okay and accounted for. i think it's too early to say, phil, what implications this had, but clearly this is a very, very sensitive issue on multiple fronts. it could have quite an impact on the belgian economy. >> and in terms of dampening enthusiasm for new vehicles in europe, a little too early to tell? >> i think it's much too early to tell. there have been these security issues over the last 12 months, but europe was still in recovery mode from pre

phil lebeau joins us live from the auto show.eporter: is this porsche north america ceo in front of the new four cylinder macan. you being a european, the aftermath of brussels any concerns on what exact it may have on the market? >> we shouldn't think about market or business down tourist. our thoughts should be with the families and show our sympathy. it is terror that we're experiencing here and it is horrible. >> reporter: we will be throughout the morning talk about what's happened over in europe but here at this auto show the macan you are pushing the four cylinder porsche. four cylinders in a porsche is unbelievable. do you think the demand will thereabout >> we're sure the demand will thereabout. if you drive the car, if you look at the peak performance indicators like zero to 60 in 6.1 seconds, the top speed over 140 miles per hour it behaves, drives like a porsche and a down sized engine, four cylinders but you won't miss anything. >> reporter: you were talking before we went on you are concerned this industry is perhap

our phil lebeau is live in chicago with more on the answer. phil, morning. >> good morning, sara.sident will not be able to create as many manufacturing jobs they are campaigning they will do. donald trump regularly talks about bringing jobs back to the u.s. >> leaving our country, rapidly. rapidly. whether it's carrier air conditioning, whether it's ford, whether it's eaton. i was in cleveland, and eaton corp, they're leaving. and so many companies are leaving. and frankly, i'm disgusted with it, and i'm tired of seeing it. and there's no reason for it. it's just gross incompetencies at the highest level. we should not allow it to happen. >> one reason campaign lines like that are resonating with people is because when you look at the number of manufacturing jobs that have been lost, over the last ten years, and yes, et cetera come back some over the last six years. but nowhere close to before the recession is when you talk with manufacturers, they will tell you, look, if we haven't already exported some of these jobs elsewhere, because of lower cost, it's tougher to compete in t

if they're long, they want to talk to what phil lebeau talks about, record auto sales.ecord auto sales, been there done that, doesn't make the stock go up. i look at the fact that the participation rate kind of muddies or covers up the negatives of employment. everything that the economy is doing, it's been doing and most likely will continue to do. this puts the fed in a bind, doesn't it? >> sure it does. it makes it hard for them to get rates back up. the level of government debt makes it hard for them to get rates back up. makes it hard for savers to get an adequate return. you need to flip from monetary solutions to fiscal solutions. we are not offering them right now. >> but whether it's apple versus the fbi or in this instance, fiscal verse monetary, the fact that policy has set a pick, to use a basketball term, for congress' inactivity, i don't see congress' inactivity changing any time soon. we're in an election year. it's either more of the same from the fed and experimenting or we wait another year before you get new politicians to try to dig in if they're mea

phil lebeau joins us on the phone. what's going on?l horn, the kreismt off of volkswagen of the united states, volkswagen north america is leave by mutual consent, by both mr. horn as well as volkswagen. they have decided he will be pursuing other opportunities, so michael horn is out as ceo of volkswagen, new york american, he'll be replaced by hinrich woebcken, who will take over the job. once volkswagen has reached a settlement with the epa and the california air resources board. that's the decision in the future of how they remedy or fix more than 600,000 vehicles that are not in compliance with emissions. again, michael horn, the ceo of volkswagen america leaving the company, replaced on an interim basis. >> who want that job? >> probably no, those better when all the news is out there. >> is it all out? >> at least it's not going to stick to you as the new person. this guy was a 2-year veteran of the company, so clearly taking the fall for all of this. >>> phil, what is next? terms of what we should be watching? >> march 24th, th

phil lebeau is here with more. >> here in the u.s., if you're flying in the next couple of days, youa few more armed police officers, guards around. otherwise you may not notice a difference but there is a difference. as for what's happened in europe, here's the update. brussels airport was closed today and will be closed through tomorrow. airlines flying into brussels they are waiving ticket changes, united came out with a statement outlining what the changes are. other european flights they continue. not real -- a lot of ripple effect in terms of other flights around europe being canceled. as we mentioned here in the united states, airport security has been stepped up. you can see a greater presence in newark and o'hare and all major airports. a lot of things being done you're not going to see. in terms of the airlines and impact of what happens in europe, specifically whether or not they see a dropoff in business, keep this in mind, the big three, united and delta and american, this is the percentage of seats they have going into europe. really, really small. in terms of revenue,

. >> i think we should get phil e lebeau. >>> lyft ridership has increased 500% in new york city sincemay. recode says the pool of drivers has multiplied by four times and weekly riders by six times. they recently cut fares in 33 cities, including new york. >> have you ever used it? >> i haven't. >> me either. >> the yelp for people. this is the controversial one. that app is finally here. makers say it provides a, quote, reference check for people around the world by showing reviews of people's neighbors and dates. it generated a lot of buzz and criticism when the idea was revealed back in october. celebrities took to twitter calling the app horrible and scary. trch >> it reviews your dates. >> people is what it's called. >> i don't like the sound of it either. the difference with something like facebook is you have to accept friends. >> review them? but it could help you in scouting your dates. >> i doubt that. if the ri views are up there, i'm sure it will compound my misery. >> some people say it promotes all the wrong things. >>> right. those are the trending stories. coming up, t

phil lebeau joins us with more from las vegas.g. >> reporter: good morning, becky. couple of new versions of the camaro in 2016 that will be rolling into show rooms starting this month, including this convertible version we had a chance to drive over the last couple of days. what stands out about these two new version. first they are adding a four cylinder turbo model and it does have plenty of giddy up and go. a conversion model going into show rooms in the next couple of days. here's the goal for chevy. they need to catch up to mustang. the previous generation of camaro was leading in sales until the last year where the mustang out gamed them. the head of product development for general motors said this muscle car is a little bit different than camaros of the past. >> instead of a muscle car we have a sports car. you know, the cars we're driving today are all about, you know, handling and precise steering and brakes and that's a different formula than what the muscle car is known for. >> guys, real quick. sales up 44% this year

chrysler out just moments ago and phil lebeau joins us now with a closer look. look now, phil. give it to us. >> we'll give you a real close look, joe. we were expecting, from talking with dealers, talking with analysts, really everybody in the industry, we're saying solid sales for the industry for the month of february. and that's what we got from fiat, chrysler. the industry was expecting an increase of a little over 8%. the edmonds estimate was 8.6% increase. fiat chrysler coming in with an increase of 11.8%. and as it has been for the last year, year and a half, it's suvs and pickups that are driving fiat chrysler sales. ram pickup sales, up 27% last month. jeep sales, that's suvs, guys, up 23%. we're going to get ford and gm within the next couple of hours. the sales pace that people are expecting for the month of february, and keep in mind, it is the slowest month of the year for auto sales, but the sales pace is expected to be probably between 17.6 and 17.9 million. guys, back to you. >> that's amazing. as you said, nothing like a buck 50 a gallon for je

this morning, phil lebeau joins us now and he's got more. good morning.nderful name. >> say that again, andrew? >> go ahead, go ahead. >> i was saying, oscar munoz is going to be very busy right off the bat. in fact, he released a letter he sent to employees early this morning, essentially saying that his first real day is going to be sent meeting with the leaders of the labor unions. we'll talk more about that in a bit. he has been out since having heart transplant in january. he has taepded meetings in the last month, but this is really beginning a full day-to-day in there 100% at the united headquarters and in all the operations around the country and around the world. on his agenda, three things. improve ual's performance. they started to do that a little bit, but they've got a long ways to go relative other airlines. handle the proxy war for board seats we've talked about for some time and get labor unions under contract and working together. here are the teamster mechanics after picketing last week, giving their thoughts on munoz and his outlook. >>