do you think it's getting too cute to pull out a pulte? it's been a really tough game to play versus just buying a basket of them. do you agree? >> i agree to a point. if you look at the performance last year, you had pulte up, you had others up 30%. relative valuation comes into play. last august we downgraded tull brothers. tull trading at roughly 12 times our normal earnings analysis and you can look at the performance there more flat as i think the market also looked at that as a limit in terms of the relative appreciation. and since august, the group is up ruffle 40%. >> good stuff. thanks for coming on today. really appreciate you talking about this downgrade you did today of pulte. >> homebuilder, buyer? yes or no? >> i've missed the entire move. totally afraid to get in here. same type of sentiment. >> murf's done a phenomenal job. i don't think it's coming off for another year or two from private equity firms. >> the way they acted a week and a half ago during the market correction, it's one of the ugliest groups. they will be the

>> call spreads in pulte. >> carter? want to be long options. >> dan? >> fading yahoo! here. >> i'm melissa lee.

if you look at pulte, their order backlog off 30% since 2007. the total value of their worlders is off 50% since 2007. the average price of a home sale, down from $322,000 to the high 200s. every single met trick, when you look at all of the home builders is significantly lower, except for two. the market capitalization of the company, 170% higher than it was in 2007. and the enterprise value is about 70% higher than it was in 2007. and all of this is being driven by the fact that people think that the company's broader margins, a function of lower labor costs because all of the people in the home building business were put out and low interest cost is going to last forever. i got news. it isn't. >> all right, so, obviously, mike is bearish. he's selling a call spread tonight. usually we buy them, so, let's review how this works. this is a bearish strategy. you purchase a higher strike call of the same expiration. in the structure, you want the stock to trade below that short strike by expiration. that's how you make the most money. above that s

i want to buy pulte. like now it is the unloved housing plight, it goes to 22 in the next few weeks. >> we should probably look at a couple other food stocks. safeway is off about 8%. i haven't work my way through some of the headlines there but we all know about some of the concerns regarding the grocery chains. >> look. i think black hawk is a great deal. i'm a believer in these stocks. kroger. watch whole foods. they'd been in a big funk from '84 $84 to $87. i still like the group, kroger's the leader. >> jim, what are you hearing from villanova? you did the show last night. talk about how various demographics see the market right now, see investing. any lessons that you got last night and that you think you'll get today? >> i think that youth rules. when we think about youth, a lot of people feel that way -- some of the things we'll talk about tonight are hopium. no, i think when you are youthful you can take chances. you can buy a regeneron with hope the anti-cholesterol drug works when other statins

look at homebuilder results pulte,. what are backlogs providing? they're like teddy bears, they provide comfort. if they kaupe the calls down, pulte and ryland will continue to do because nobody necessarily expects them to keep the costs down because the back log is so high. liz: toll brothers is up 32%, pe is rich at 24 but what do you think, chris, about the about the housing market? do you sill fee positive about it? >> we think the fed will be accommodative to pump money in the system. the housing market is still very long cycle going forward. that is not where we spend a lot of our time but it should continue to give some lift to the economy. we're also looking at cyclicals, oil and gas services we think are in a good position going into the second half of the year. we've seen some of those results this week. and i think it is setting up. and that is all a play on slower growth economy but, not a recession that, you know, i think we've passed it. david: like over in europe as a matter of fact. what is superior by the way is one of your energy

do you still believe in tolle brothers and pulte? >> absolutely. on the housing sector as evidenced today that is just data but if you really think about it, every place i travel, new york city, miami, washington, d.c. where i live right now, just look around you. i think housing, although stocks reasonably pulled back a little bit because they have such huge advance from the lows. comparing to the highs they made back in 2007, they still have a long way to go. liz: okay. let's get to the point though. you like goldman. you like capital one. you like d.r. horton as your home play there and toll brothers, correct? >> d.r. horton i like a lot. in addition to being a homebuilders they're also in the real estate development business. they also have land. i like that a lot. capitaa one, that is a stock, actually, vikings have them taken over and beating the, out of other credit card companies. i like capital ooe a lot. goldman, what can you say, that is the gold standard of financial stocks. these are my picks. david: viking a reference to the commercia

pulte and d.r. horton out with their reports thursday and friday. >>> schwab hit by a second cyber attack in as many days. we'll ask a security expert how businesses and individuals can protect themselves. >>> first, let's take a look at how the international markets closed today. >>> investors were busy all day analyzing a new batch of earnings. we begin with qualcomm, the chipmaker reported after the bell profits in line with estimates, and revenues ahead of expectations. it's a big supplier of chips that are used in apple devices and galaxy phones, but with concerns about a slowdown in smart phones, qualcomm expects profits in the current quarter to come in lower than analysts recommendations. shares tumbled more than 4% after hours. >>> zynga reported a penny a share. that's the good news. the social gamemaker issued a very sharp warning about revenue for the current quarter. shares were up more than 5% before the close. they dropped more than 10%. right after that earnings release. >>> first so

. >> lady's seriesirst discusses sarah pulte, followed the centrals on " park five."

a good housing starts number, that's good for home builders and sure enough up goes one of them, pultee up. disappointing from the telecom, net gear, they're down 3% there. and yahoo! reports after the close today, shares already near a four-year high. 24 bucks on yahoo!. investment banking giving goldman sachs profits a boost buff goldman dead flat on that. a disappointing outlook from the hospital manager, hca holdings and they're down just a little and we have intel, they're posting their reports after the bell today, another decline in sales, another decline in profits is expected, intel sitting right there as it always does. $21 per share. to the big board, 117 points higher is this market bounces a little from the big selloff yesterday. all right, we say it every day, time is money and we're jam packed today. dr. keith ablow on the american psyche after the latest terror attack on what i'm calling a soft, very hard to defend target. and also, someone who says dish network's move to buy sprint could revolutionize your tv and your phone experience. that's interesting. and we'll tal

they feel intim dated and afraid and apprehensive and very much pult down and often say that that abusehem is worse than the physical abuse they endured. a >> shepard: the president abuse and jodie arias shot her exin self abuse. she can't more tough questions from the jurors and now the judge dismissed the second juror. >> juror february -- number 5 was dismissed. this is different. juror number 11 hispanic man was dismissed for health reasons. they will choose 12 and four alternates after his dismissal . the questions from the jury today of the defense witness continue to be tough. 159 questions in total . second most by the jury . listen to this question. one of the harsh ones she had to face today. >> do you consider someone who said that no jury will convict me to be a person with low self-esteem? >> it sounds like a foolish statement to me. >> i don't know what to say about self-esteem but it doesn't seem like a good statement to make, that is for sure. >> that question alluded to video interview that jodie had begin saying that she would not be convicted by the jury. >> shepard:

pulte i think they beat. i think d.r.ton, the reason i like them is we have a low rate environment, which means people can get big mortgages, one of the issues is they've had a high cancellation rate. i think with a lower average buying price than the average in the united states, they're going to have an easier time having buyers get into their homes. that's going to lower the cancellation rate, increase their backlog and essentially drive sales in the future. >> i think it's a great story. the way i have been approaching these things is let them come in and buy. housing renaissance right now, well done. thank you. >> thank you. >> hi, jim. i'm nick. i'm from new york. i want to give you a big, big, apple boo-yah. >> i'll take it. >> i'm going to shout out to mom, dad, jess and my good friend george. >> you left out half a dozen. >> today i want to talk about gnc. they really established themselves with a best of breed. they have explosive growth. same store sales have increased 22% per quarter in the past two years, whi

names like dr horton and pulte enjoying big hops today. >> good news for mike murphy who's a wlooebelievert's been a harrowing pull-back. they had a nice correction of 10% to 15%. you look at toll brothers and it was breaking down on the chart. now today it takes out the 200-day, 50-day moving averages. i think there is a lot of room left. >> how about netflix today up 25% after posting a blowout quarter. the stock back above $200 for the first time in three years. some on wall street are divided about where it goes next. rbc's mark mahaney says knicks is a winner. michael pactor says no way. welcome back. state your case, mahaney. you're first. >> look, we have a business that's on a trajectory toward generating 35 to 40 million u.s. subscribers for streaming business with expanding margins in profits. you have optionality out of the international sub business on the trajectory toward 10 million international subs. you've got a dvd business that doesn't seem to be completely falling apart. we think the shares are worth $250. we think the fundamental momentum continues through the year. >>

pulte, d.r. holton, lennard among your laggards. there were some green on this down day. a abercrombie & fitch enjoying a pop. we'll end here on facebook. tomorrow, facebook will be hosting an event to unveil its, quote, new home on android. also, today, jpmorgan out with a note telling their clients they would be buying on recent weakness. maria, back to you. >> thank you so much. we have breaking news right now in washington. john harwood with the details. over to you, john. >> maria, this is part of the sequester battle this is symbolic. you had president obama at the white house confirming he's going to return 5% of his salary since the beginning of the sequester, which hit on march the 1st. now, the president makes $400,000 a year. that's a little more than $30,000 a month, which means that 5% of that for a month, so far, we're just in the beginning of april, is less than $2,000. not a consequential amount of money, but this is part of the president's attempt to get the high ground, especially as some of the sequester effects kick in. i wouldn't be at all surprised,

. >> got a drop for pulte. >> yeah, this is one i think that as tim mentioned before, it was a good winner year-to-date. it's down at least about 10% now from those highs. looks like a double top up in the $22 level here. so this one, you know, probably has to base a little bit -- i think the home builders have to get their mojo back. i think they got ahead of themselves. >> a drop for yum brands. tim? >> yeah, a shocking breakdown for yum which had a nice run back to the pre-china food scare price move. back to the 200, doesn't matter there's crazy cheesy pizza -- >> crazy cheesy? >> that's what's coming out today. not helping the stock price. i don't think you get past the 67 level. >> some of the clothes you wear are crazy. >> thank you. >> nice comeback. that's a comeback from yesterday's dodge dart comment. >> 24 hours. >> it was worth the wait. >>> pop here for the mobile phone. people around the world are ringing in the 40th anniversary of a the very first call on a cell phone. the first was made by a vice president at motorola. the red letter ring was dialed up on an 1,000x that we

pulte homes also doing very good. textiles and apparel retailers are getting it.hey're expecting to up double-digits in the first quarter. expecting industries projections to be driving. adam: going forward tax returns coming in. refunds come in. people might spend money. what sectors will live up to the underperformance? who will be a dog? >> looking at energy. they're down about 2 into 7%. energy costs are very high it is year-over-year comparison. difficult comparisons for last year. for instance a barrel of oil on average was $95 in the first quarter of this year, versus 103 last year. that is why the decline. adam: christine short, thank you very much for joining us on fbn. we'll be watching. >> thanks very much for having me. lori: we had a lot of fun on april fool's edition of markets now. believe it or not this is the real list of weirdest state taxes you may never have heard of. get this, new york charges 8 cents on altered bagels. adam: i smear. >> kansas has a sales tax of 6.3% on all hot-air ballon amusement rides but only if the balloon is tied to the

my view is it's very eerie when the evidence is pult before me, realizing that, my god, i think thisould have been radicalized and trained overseas to come back and kill americans. let me just say this as well, what was found in their apartment, the idea that they had seven more ieds out there indicates to me -- and they were staying in boston. we were worried about flight risk, indicates to me that they were very well may have been a success wave of attacks they were planning in boston. if it wasn't for the release of the video, we may not have stopped that. >> eric: it's really frightening. have you seen any evidence, mr. chairman that, they might not have been acting alone. >> that's the big question. i know the u.s. attorney and the intelligence community is looking for this. i would be casting a wider net to see, is there a sole beyond these two individuals? not just overseas, but quite frankly in the homeland that presents the biggest threat to american lives. peak.sure that's being done as i know, early confirmation reports that there are no other act othough. >> eric: can you

i don't think it's any one party is pulte. but all threelt, need to come together and recognize absented decision we're having a devastating impact on many parts of our government but certainly our national security which is supposed to be paramount. you cannot plan strategy when you do not know how much money will have month-to-month. i applaud the chairman for urging the reconciliation to come together and i look forward to finding a solution to that. i look forward to hearing from the witnesses. thus challenging as all of this is, we will deal with it. we will make the decisions. we have certainly faced tougher times in the past and have come through it. it is a challenge that we will meet. i look for to hearing from witnesses today. thank you, mr. chair. >> mr. secretary. >> chairman, ranking member smith, members of the committee , thank you for this opportunity to discuss the president's fiscal year 2014 budget request for the department of defense. allow me to express my appreciation also to this committee for its conti

>> pult your hand where i can see them. what's going on? >> we're making a documentary. >> ok. do you have any i.d. on you? were you on her property at all? >> no. public road. and she pulled up and i actually was standing on the road and she pulled up to me and we had this conversation while she was in her car. >> did you say were you going ake water from her house without her permission? >> you asked voluntarily? >> yes. >> so not come on and take your water when you're gone -- -- >> did she say is that? >> yes. >> well, that's why i'm here. >> what was julie foutner trying to hide? why would she not sleers the findings of the e.p.a. water testing? three senior e.p.a. officials had given her the results and that the meeting was filmed. through freedom of information request i managed to get hold of a tape. and showed the e.p.a. telling the founter ins that their water was not contaminated and their reaction to this good news was rather strange. >> she's got a problem. no. >> right here. >> i'm done with it. you can finish this. i'm done. i'm getting myself too upset. >> i'm s

horton, pulte and people look at these starts. >> look at lennar. this is what i'm talking about. lennar is not coca-cola. toll brothers got down to 30 and change yesterday. these stocks are still down. toll is still down gigantically. i don't trust this market. i don't trust it. >> follow through on citigroup and by far the best performer. >> that was a big -- >> that was dynamite whereas goldman sachs is actually down. not much, down about a half of a percent and part of this, we said roe, tangible book goes up by 3% and the quality of the earnings is not there -- shally i get to that in the last page. >> and the key is always the last quarter where they can fully adjust for what the year is going to be. city was just a very, very exciting quarter even though they used a macro comment that was weak. citi is going to become a very lean, international company. >> can he have that kind of an influence and that short? >> is that a short amount of time? >> i think pandit gave him a good hand and he's improved a hand. if it's poker you have a couple of kings and an ace. we three kings

homes and pulte all had great numbers and the home construction index and the itb, the etf is up 8% thisst week we've had. etfs are continuing to report assets. >> wisdom tree is publicly traded and that's the fifth largest etf and more importantly, the overall numbers, the overall revenues much higher and they're bringing in a lot more money and the hedge fund has been doing traffic for them. it's been a strange week, jim, for those of us covering the markets. we'll be talking to bill broadski, the ceo of the chicago board options exchange in one hour and we'll find out exactly from the horse's mouth what happened that day. guys, back to you. >> everybody in our business, what are they doing? how do they not know how to do this stuff? great stuff. great interview, great guest. let's go to the cme group in chicago. go ahead, rick. >> thanks, jim. we had our first quarter of gdp and even though i scratch my head when analyst it is look at 3% or higher, i understand why and it was still not a bad number at two 2.5 and it wasn't 3 and you are averaging the first quarter together. of course,

can see the most conservative to the most likely scenario, it floods, ill it impacts and eliminates, pults under water most of the south will mingtop. the calculation of whether we're goinggoing to be hit with a half a meter, or a meter and a half of sea level rise comes down the rate of acceleration of climate change globally. it also implicated in the question of whether we should be trying to slow the rate at which climate change is affecting our pleantd and making even -- planet and maybe even having some hope of turning the tide. this is the part of policy known as mitigation. priority one in this strategy is reducing cutting the emissions we're pumping into our atmosphere that are driving this change. to do it we need to dwerrify our -- diversify our energy sources. clean energy technology, public transportation, recycling and many other things other could help cut down on these emission bus it will require a global and coordinated effort to avoid or minimize preez projected, devastating local impacts. the second part is adaptation, based on theccepting t realit our climate is changi