filing a civil case against steven cohen of s.a.c. why now? late on the afternoon of a friday in the middle of the summer is a big question, scotty. >> it certainly is. was this foreshadowed by preet bharara, u.s. attorney for the southern district of new york, on wednesday at our very own cnbc's delivering alpha? listen to this. >> we can't really directly talk about s.a.c. capital, i know, but talk about phone calls. are the phone calls too late? my understanding from the conventional press is that if you're going to bring some of these cases, the statute of limitations is up. look, you better do it this afternoon, or it's over. >> i'm not going to talk about any particular case, not about the institution you mentioned or any other institution that people are thinking about. what i will say in a general matter, there are a lot of -- it's entertaining -- there are a lot of armchair lawyers and armchair prosecutors who think they know what the legal theories are we can pursue, and what the statute of limitations are and what the strictures are

where most of them are, not much about steven cohen but their own picture at the end of the year. >> i would say the cohen story, reefng its peak is going to cause some soul searching. for cohen himself he's got a criminal case that his firm has got oconfront and that's going to drag on for a long time and employ many, many high priced lawyers. >>rose: and make enough money to buy more art and beautiful homes. >> he will continue to buy beautiful things and the government prosecutors will continue to be annoyed when they read about that in the newspaper. >>rose: thank you, sheelah, tom. go home, go to bed, you've been up since 3:00. we'll be right back. stay with us. >>> chris fischer may know mower about sharks than anybody alive. he founded ocearch, ocearch has tracked more than 100 sharks. the vast majority have been great whites. the organization takes a novel approach to catching and biosampling on board without using a harpoon. over 40 sharks are being tracked around the world on his web site. i'm pleased to have chris fischer at this table. welcome. >> thank you charlie, it is

is charging steven cohen with civil charges, not criminal charges.tinue to follow this story for you right here on "street signs." do not go away. time to have new experiences with a familiar keyboard. to update our status without opening an app. to have all our messages in one place. to browse... and share... faster than ever. ♪ it's time to do everything better than before. the new blackberry q10. it's time. their students need financial literacy education. but the funding, resources and curricula are often not there. pwc is doing something about that. i'm bob moritz, u.s. chairman of pwc. pwc's earn your future is a 5-year, $160 million commitment of funding, volunteer hours and curricula to help provide students with financial well-being. pwc's earn your future: empowering students and future leaders through financial responsibility. vietnam in 1972. [ all ] fort benning, georgia in 1999. [ male announcer ] usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection and because usaa's c

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i think steven cohen will be in the clear. he is not going to be indicted.ectively i think the company will be shut down as criminal charges move forward. >> michael balkener, how do you feel about all this? weigh in here. >> i think as star as steven cohen charged or not charged, i think any conduct they could have charged him on, they have been investigating him for ten years. if there was new information they would have brought it. however, if something comes to light that has statute of limitations, cohen could still have problems here. the uts attorney's office was unable it indict and put steve cohen in jail. what they did is give his money the death penalty. they shut down his ability to do bisz. that going to happen. investors won't stay with him much longer, in my opinion. he will be relegated it trading his own funds. if the allegations of the indictment are proved true, getting corporate liability in a criminal case is not difficult. it smells more like a civil period. they have show that employees engaged in criminal conduct for the corporation o

in federal court steven cohen's hedge fund s.a.c. capital advisers pleading not guilty to insider trading charges. mr. cohen did not personally appear in court but did sign the documents. so how good is the case against s.a.c. capital? can the government get all of steven cohen's money? matt goldstein is the editor in charge of wall street investigations at reuters and sal wiseburg is a former federal prosecutor. nice to have you both here, gentlemen. the question how much the government can take from mr. cohen, what are you wagering? >> if they can convict him they can take anything they trace toil legal proceeds and not a penny more. >> all right. mr. cohen apparently has been very smart with his money. he has a lot of asset. he has a lot of artwork and in some cases reportedly he's borrowed against it. isn't it going to be difficult for them, saul, to trace some of the money, or not? maybe not. >> it may be difficult, but that's why they added a paragraph that said substitute assets which basically allows them if they can't separat

charges filed against hedge fund king steven cohen and the continued fallout from the detroit bankruptcy filing. let's begin with the latest news on steve cohen. cnbc's jackie deangelis joins us now with all the details. good evening, jackie. >> good evening to you, larry. the s.e.c. announcing today that it is charging s.e.c.'s steven cohen for failing to supervise two senior employees and failing to prevent them from insider trading. this is a civil charge. this is not a criminal charge. now, the charges are the result of a four-year investigation into cohen and his top-performing $14 billion hedge fund. the highest-profile targets in the latest crackdown on insider trading. the s.e.c.'s investigation found that the hedge fund manager oversaw trading by his employees matthew martoma and michael steinberg and received updates on their trading strategies and the reasoning behind them but on at least two occasions in 2008 the s.e.c. says that the employees provided cohen information indicating that their potential access to inside information. cohen's failure to act in that situation and

capital, run by billionaire steven a. cohen, allowed illicit trading based on confidential inside corporate information. anthony mason is here with more on the charges. anthony? >> reporter: this may be the government's most important case in a ten-year crackdown on insider trading. steven cohen has long been federal investigators' prime target. the 57-year-old billionaire hedge fund owner is one of the wealthiest people in the world. he's reported to have earned $900 million in both 2006 and 2007. cohen himself was not indicted today, but his company was. u.s. attorney preet bharara called s.a.c. capital "a magnet for market cheaters." insider trading, he alleged, was systemic and rampant. the company is accused of using non-public information to make hundreds of millions of dollars in illegal profits. six people connected with cohen's firm have already pleaded guilty to insider trading and two more face charges. s.a.c. denied the accusations today and it said it's still operating. but the firm could face, scott, billions of d

steven cohen was not charged, he is present throughout the criminal complaint, which names several times as sac owner. the indictment comes with a companion civil case, seeking forfeiture of any and all assets of sac and its funds and penalties for money laundering. the latest on that story as well with cnbc's mary thompson in the next hour of the program. >>> also still to come today, german elections are just eight weeks away. after the break, we'll have an exclusive interview with one of the candidates, the leader of germany's anti-euro afd party. >>> plus, today marks the one-year anniversary since mario draghi promised to do whatever it takes, he said those comments in london, to preserve the euro. has he? will discuss that at 10:30 cet. >>> spanish banks got a spring in their step. even though it is summer. they return to profitability in the second quarter. we'll break down the earnings from madrid in around half an hour. >>> and amazon's second quarter profits missed . starbucks sales heated up. leaders are looking to clamp down on corporate tax avoidance as well. we have a panel

s steven cohen for failing to supervise two senior employees and failing to prevent them from insidercivil charge. this is not a criminal charge. now, the charges are the result of a four-year investigation into cohen and his top-performing $14 billion hedge fund.

we will talk about that coming up. >> and can steven cohen of sac capital survive? it is not found guilty of insider trading charges? we will talk about that on the program. stay with us. are you sure we should take this billboard down? people find out state farm does car loans as well as they do insurance, our bank is through. good point. grab an edge. look there's two guys on the state farm borrow better banking sign. nope for real there's two dudes on the state farm borrow better banking sign. [ reporter ] breaking news from the state farm borrow better banking sign... we're seeing two men that have climbed the borrow better banking sign gentlemen please get down from the state farm borrow better banking sign. phil get the hose. okay he's getting the hose. alright, let's go. [ male announcer ] talk to a state farm agent about car loans that can save you hundreds. that's borrowing better. as ceo since 2001. maria a couple interesting things in terms of timing i don't think this is ufrn expected we have no indication this would be happening soon. the key thing is t

sac is surrounded right now and i don't think steven cohen is completely out of the woods in terms ofi think he has a problem. david: harvey, we may have to cut our conversation short. your cell phone is going in and out. if you can hear us we'll go on. but has there ever been a case. the sec is charging steve cohen and we may have criminal indictments to this charge, wasn't as conscious, not accusing him of insider trading but saying he should have been aware his traders were doing insider trading. has that kind of charge ever stuck? >> yes, they have brought similar types of cases but their case against cohen as i read it is much stronger than, than that. what they have said was, he was in the middle of e-mail chains that alerted them to the problematic nature of trading and i also think when you look at the indictment that was filed today it suggests that the effort was made to hire people who actually had material non-public information. that, if it is proved, would be a slam-dunk failure to supervise. david: but how do you prove that, harvey? that is very difficult to prove, is i

while it doesn't name steven cohen directly as a defendant, it does say that he was part of this organization, he was aware of what was going on, and effectively, that sec capital was run as an organization that thrived and really encouraged insider trading. george venezuela, the fbi director here in new york, said effectively they not only tolerated cheating, they encouraged it, and if your information edge is inside information, you can't trade on it. there is a lot of talk about the inside edge that portfolio managers brought, and according to this indictment, it was all inside information. >> all right, bertha, stay there. sue, let me bring you in because you have folks there at headquarters, scott and ron, so take it away. >> ron, i'd like to ask you, you worked at sac for about five and a half months. talk to me about the indictment. you've looked through it. what strikes you first? and also, do you think this is a change in approach by the u.s. attorney? because if they can't get steve cohen himself, they're going after the organization. but that refers back to something that preet bha

capital's steven cohen hosting a big party this weekend. is he sticking it in the government's eye? and a new way to do a lot of things without a lot of people knowing. it's called snapchat. let me get over here, and some wall street traders are using things to do things they shouldn't be doing. we'll show you how it works today. first though to sue at the nyse. sue? >> good to see you, ty. the market is a little bit on the dunn side through much of today's session, at least so far. right now the dow is down 46 points. the s&p is down 6.75. nasdaq off 12.75, and the broader-based russell 2000 is off 6.25 points on the trading session. let's talk to bob pisani about the market at this point and we've had a big amount of earnings last week. what are you watching most this week? >> the big thing is mr. bernanke on wednesday. a very delicate dance to make sure we're not saying too much because it's got to be all words. no press conference on wednesday, and then, of course, non-form payroll reports on friday so the market is kind of reflecting a little bit of that sort of indecisiveness.

i mean, steven cohen was a -- is a conservative. he was -- he was a big supporter of mitt romney during the last presidential campaign. it's a fair question. >> steve, you can tell -- >> i don't think the justice department is thinking about it this way. those guys at the federal prosecutor's office aren't saying, let's get this guy because -- >> no, the southern district -- >> i wouldn't have thought the irs would either but -- >> the southern district has a lot of authority to figure out what cases it wants to bring. and it's not bringing cases because of somebody's politics. it's bringing case, because as they say, they think there's insider trading that's been pervasive in this company. could they have figured out other ways to do this? it's a very blunt instrument to destroy an entire company, because they don't like the activities of these eight insider traders who they focused on. >> this they do think steve cohen is dirty, anything they did to him would have destroyed the company anyway. you know, again, this isn't ur anders

you throw a party, of course, if you are steven cohen! going to call him the honey badger hedge fund manager, number one, he doesn't give a -- you know what, he moves about freely. >> yeah, steve cohen's party on saturday was probably not the biggest in the hamptons but becoming the loudest. it was at his beach estate on further lane in easthampton. one person familiar with the event said about a few dozen people came, and it included donors to the ovarian research fund. the fund telling us they were not associated with the event. the big problem with this party was timing. it came just two days after cohen's firm, s.a.c. capital, was charged with insider trading. pr guru bob dylanschneider telling me, what he should be doing is keeping a low profile. if he can beat the charges, he should throw a party. not before. cohen is not the only billionaire to face a public party backlash. facebook billionaire parker was criticized in june for his wedding in big sir that took place in a protected redwood park. and steve schwartzman's famous 60th b

june may have been a tough month personally for steven cohen as the feds circle his hedge fund sac butory for his investments. sac capital posting a 1.5% gain for the month comparing to a 2.1% loss for the average hedge fund, according to early estimates by bank of america and mayoral lynch. for the year sac is up about 8.25% after fees. the s&p is up more than 12% in the same time period. sue? >> keeping our eye on onyx, reports that several large pharma companies are expression interest in the company. the irs telling tyco international it will not allow $2.8 billion in deductions and interest in its u.s. tax returns. tyco's subsidiaries actually owe hundred of millions of dollars in taxes and penalties,ed a credit card issuer capital one financial buying back $1 billion worth of its shares after completing the sale of its best buy credit card portfolio. let's get the trading action. josh lipton on the floor of the nyse. a decent gain on the floor so far. >> hey there, sue. leaning green here though certainly off your session highs. did have some economic data this morning. factory o

. >>> criminal charges against sac capital run by steven cohen. charges against him. according to the wall street journal no major financial firm survived an indictment. cohen is accused of failing to supervise his firm properly. they are a target of a multi-year insider trading investigation. >>> ahead, with interest rates near historic lows, many safe retirement strategies aren't delivering. should you look at unconventional ways to protect your retirement? our series on how to the not out live your money continues. first, how the international market faired today. >>> another twist in the dell saga. founder michael dell increased his buyout butt for tout by 10 share. they call it the final and best proposal. it comes as dell's bored pushed back the shareholder vote for august 2nd. it was scheduled for tonight. >>> defense stocks in market focus tonight. despite the sequester and military wind down in afghanistan, defense firms are setting new highs. estimates thanks to better margins the and company raced the four-year forecast. shares touched a new all-time high b

owner steven cohen was not charged. it never tolerated insider trading. >>> halliburton will plead guilty to destroying key evidence in connection with the explosion and oil spill in the gulf three years ago. it killed many workers and spilled millions of glans of oil into the golf. halliburton will pay a $200,000 fine and be on probation for three years. >> tokyo's nikkei dropped 3% hitting a three-week low. hong kong's hang seng added a quarter percent. wall street was a mixed bag. dow jones posted 13 pointed higher and the nasdaq finished 19 points higher driven by a rally. >>> zingo once a darling stock rose due to popular it of facebook. it dropped in the quarter. zynga stock is down 70% from its 2011 public offering price of $10. >>> and the dallas cowboys have joined a growing list of sports teams to have a corporate name on their home venue. cowboys stadium will now be known as at&t stadium. officials declined to say how much the deal is worth but it's estimated to be $400 million to $600 million for 20 to 30 ye

however, the indictment mentions how sac capital founder steven cohen sold his multi- million-dollar stake in dell computer within minutes of receiving an email warning of low earnings. "now that there are criminal charges being levied against the actual company, which is very, very rare - the last time this happened was with arthur andersen, the accounting firm for enron - it's to be seen whether firms like goldman sachs, morgan stanley or jp morgan can actually justify trading with one of their best customers." that was antoine gara, reporter with thestreet.com. he says that while the firms are loyal to sac now, their compliance departments could change that. it's well documented: most americans fear putting money into the stock market. greg mcbride of bankrate.com is with us this morning. good morning, greg, and where are people stashing cash? - alarmingly, angie, when we asked people "for money that you're not going to need for 10 years or more, where do you think the best place to invest it would be?," 26% said "cash." that was the most common response, and that's very alarming,

steven cohen and his firm have been the focus of the u.s. probe of the hedge fund industry. the wall street journal reports a five-year statute of limitations on filing criminal charges is expected to pass this month without any action. reports say authorities are also electing to charge s.e.c. if they can charge cohen himself. both cohen and s.e.c. have said they have done nothing wrong and in may the firm said it would no longer cooperate unconditionally with the investigation. the deadline to file charges against cohen is tied to trading activity with former sac fund manager matthew martoma. prosecutors hoped to use information to implicate his boss, but he hasn't cooperated. he was charged last year with helping sac profit from well timed trades on elan and wyeth allegedly linked to insider information on the results of drug trials. he has pleaded not guilty and is set to go to trial in november. since the government launched its probe of sac capital, six current or former employees have pleaded not guilty -- pleaded guilty to or been co

years of federal investigation linked to suspicions over insider trading, sac capital founder steven cohen is now facing civil charges. the securities and exchange commission claims the hedge fund manager failed to "reasonably supervise" two senior executives at sac capital who have been accused of criminal insider trading. cohen himself has not been charged with that crime, but in an administrative hearing he will stand accused of failing to supervise his employees. the sec alleges cohen received highly suspicious information that should have caused an investigation. an sac capital spokesman tells cnbc "the sec's administrative proceeding has no merit." the world's largest economies are working on closing corporate tax loopholes in an effort to crack down on companies that dodge paying taxes abroad. the g20 has outlined a measure for global changes. the plan would enforce stricter laws and let countries tax profits in corporate offshore accounts. starbucks recently offered to pay $16 million to the british government after failing to pay taxes in the u.k. new evidence combats some environ

cnbc reports founder steven cohen sent out an email to the staff that he expects sac to operate normally going forward. cohen's sec hearing is set for august 26th. the plot thickens: the ball is now in billionaire investor carl icahn's court to take over dell. ceo michael dell has offered shareholders a final offer of $13.75 per share to take the company private, up from his original bid of $13.65. icahn believes that bid still undervalues the computer company. his counter-offer could reach $18 a share. a shareholder vote is re-scheduled for next friday. investors clearly believe the plan to merge apparel company maidenform with hanesbrands is a good fit. hanes shares rallied more than 8% yesterday. hanes will pay $575 million for maidenform, or $23.50 per share, sending maidenform stock racing up more than 22%. the deal is likely to be done in the 4th quarter. and here's one for gadget fans: google just unveiled its new nexus 7 tablet. the sleeker, higher-resolution tablet is less pricey than apple's ipad. tech analyst rob enderle says depending on when google's competitors release new

sac's billionaire founder steven cohen has not been charged, but will face an sec hearing next month. glaxosmithkline is attempting to clean up its act in china with a new boss. the company's senior vice president of europe will take over as general manager in china. the former chief in asia will stay with the company to help with the bribery investigation. gsk is accused of a multi-million- dollar scandal involving bribes to government officials, doctors and travel agencies. four executives have been detained, and one has been banned from leaving the country. the faa is ordering safety inspections on boeing's 787 dreamliners. it follows a fire this month aboard a jet that was parked at heathrow airport in london. the problem was traced to an emergency beacon made by honeywell international. the faa is ordering boeing to remove or inspect the emergency localtor transmitters for pinched wires in the casing and evidence of heat or moisture. starting next month, the cruise industry will become more transparent. royal carnival, and norwegian cruise lines are agreeing to expand reporting o

who have material nonpublic information communicating that in two different stocks directly to steven cohen. it's obvious from the nature of the information it has to be insider information. in fact his own internal people are saying this information is too good to be true. okay, now, his defense is gee, i didn't know. sort of a dummy defense. i didn't realize it might have been insider trading. i think the sec is saying we can just take you at your own word but if you didn't know to ask and didn't go through compliance and call someone to find out where this information came from, then you failed to supervise, so i think it's just taking low hanging fruit. i think it's the tip of the iceberg. i know there's a lot of speculation, does it mean anything about the prosecutors and doj, i don't, but any reasonable person who reads that complaint and the fact it was cohen telling -- to go talk to those insiders i think any reasonable person would conclude he obviously knew it was insider information, but it's just an easier case for the government to prove because they already have them. it's not

reports say no charges are expected against founder steven cohen. >>> and coming up in the next half an hour, we speak to an international lawyer who describes the civil charges against steven cohen and what he faces as obscure. stay tuned as we discuss the case at 10:40 cet. >>> on today's show, the motor city has its day in court. the judge set to rule on whether detroit can file for the biggest municipal bankruptcy in u.s. history. >>> and boeing is set to answer investor concerns over the dreamliner's latest woes when it reports earnings later today. cnbc's phil lebeau joins us from the aerospace giant's hometown of chicago. that's at 11:45 cet. >>> and as the slew of tick earnings continues across the globe, we cross to seoul for lg electronics results in a few minute. >>> apple's solid earnings boost suppliers across asia. we'll have expert analysis live from hong kong after the break. >>> the once lost lotus submideastern car from the james bond film is set to go up for auction. robert frank has all the details. >> it is one of the most famou

so our guest is steven cohen professor of russian studies and history at new york university and princeton university's stephen it's really great to have you with us today i'm happy to be with you so right so at this point who is snowden more of a problem for the united states or russia. well in my perspective he's a problem for both if we put this in historical context since the end of the soviet union twenty two years ago we've lost several opportunities to create a meaningful cooperative relationship between washington and moscow it appeared a few weeks ago that we had another opportunity the opportunity began with the tragedy the bombings in boston when it was clear that we needed a lot of cooperation in counterterrorism between moscow and washington and then as the syrian civil war or whatever it is spun out of control certainly the worst crisis in the middle east in many years it also appeared that washington and moscow were ready to try to do something about that and then came snowden not only snow but he clearly is a setback and i would say both for president putin and president ob

and moscow that's according to professor of russian and slavic studies or new york university steven cohen. this is a classic case of the testing of leadership both in moscow and washington neither leader neither obama nor putin can be happy about mr snowden sitting in the moscow airport and didn't invite him to russia but he can't toss him for various political reasons obama needs to show he's tough on snowden to change i can't believe that the united states actually wants to put snowden on trial because it was a fair trial or a legal trial all snowden would have the right to subpoena american officials who have knowledge of all this intelligence he's exposed that would not be so i think there's a vested interest both with obama and putin defined a way to solve this problem so that neither is damaged politically so will now study what kind of leaders they are. meanwhile according to a number of whistleblowers including snowden companies from microsoft and google have been selling off your data to the u.s. government for buying busting with cash and it's the taxpayers of course are stumpin

founder steven cohen. future holds. >>> "vanity fair's" bethany mcclain will join us live after the break. the most free research reports, customizable charts, powerful screening tools, and guaranteed 1-second trades. and at the center of it all is a surprisingly low price -- just $7.95. in fact, fidelity gives you lower trade commissions than schwab, td ameritrade, and etrade. i'm monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> i do want to take a look at shares of -- really beginning the significant exit. 40 million shares at $29.11. you can see it there. the average costs around $13.50 that's about two years ago. an enormous profit generator. assets now in competent of, it's grown substantially, very successful activist play here. certainly the -- by ali baba, and the valuation of that, but mr. loeb exiting, beginning that exit, and three board seats he had appointed st

its founder, steven a. cohen, has been seen as an exceptional trader on wall street.en himself was not indicted today. but federal prosecutors announced criminal charges against the firm, saying portfolio managers, supervisors and analysts had engaged in securities fraud for at least a decade by using inside information of at least 20 public companies. cohen was blamed in part for the larger culture at the fund, once worth $15 billion. five former employees have admitted to insider trading at s.a.c. at a press conference today, us attorney preet bahara said it was a magnet for market cheaters with rampant insider trading. >> when so many people from a single hedge fund have engaged in insider trading, it is not a coincidence. it is, instead, the predictable product of substantial and pervasive institutional failure. as alleged, s.a.c. trafficked in inside information on a scale without any known precedent in the history of hedge funds. >> sreenivasan: sheela kolhatkar covers this industry for bloomberg "businessweek" and was at the press conference today. 41 pages lon

steven a. cohen is not a target of today's actions. been telling you, these are criminal charges against the company. it was expected top ha. steven a. cohen is not a target of today's action, but the firm, itself, sac capital is. >> would it be better, senator, to get locked in a room with his adversaries and just be talking about things that with the current makeup of congress that they can agree on between now and 2014? wouldn't that make more sense than going from campus to campus and giving campaign-style speeches? i think he has certain people that advise him that say, screw them, they're not going to do anything, let's try to do it on our own, don't try to deal with these. >> there is reality to that. if i were advising the president, i would say, go make the speeches. then come back to washington and get in a room t. reality is, the odds are, the house will remain republican. if you look at the way the districts are composed, is it possible the democrats would take over the house? it's possible. >> they said that's in -- >> the

s case against steven cohen. urnal reports the hedge fund told employees evidence shows that cohen didn't read the e-mail from 2008 about the earnings which is at the center of the allegations he failed to prevent insider trading at the firm. cohen's lawyers say he received so many e-mails a day, he only opened about 11% of them. well, what about his assistant? the s.e.c. says cohen ignored red flags that should have alerted him to improper trading. the agency is seeking a lifetime ban from the brokerage industry. >>> meanwhile, a key witness is expected to testify today in the s.e.c.'s case against former goldman sachs trader fabrice tourre. he's accused of misleading investors in a 2007 bond dial. the s.e.c. says lauren schwartz at aca capital will say that tourre told her that hedge fund paulson company was backing the deal which was made up of subprime mortgage securities. schwartz's testimony is central to the argument. >>> authorities say eight people were injured when the landing gear on a southwest airline

kayla tausche has the latest on the case against steven cohen. we've got a quick roundup of the other morning stories. the big one being that the federal reserve is now considering whether to allow banks to continue owning trading assets like oil storage tanks or metal warehouses. the regulator also reviewing a 2003 decision that first allowed banks to trade in physical commodity markets. financial firms' activities in physical markets helped generate billions in profits, and a senate committee will be holding a hearing on that topic this week. if you didn't see the front-page article in "the new york times" this weekend about aluminum and this idea of aluminum warehouses and moving all the stuff back and forth, check it out. also, the cftc wants in on the action. the commodities market regulator has put banks and other big traders on notice for a possible investigation of their metals warehousing businesses. >>> in other washington-related news, president obama has a series of economic speeches planned for the week ahead of key budget deadlines

>> we have another major development brewing in the insider trading investigation into steven cohen. the wall street journal now reporting that prosecutors don't have enough evidence to file criminal charges against the famed hedge fund manager. the five-year statute of limitations on filing criminal charges runs out this month. an unidentified source says that will likely pass without any action. just to clarify, a couple of things on this issue, the statute of limitations relates to the trades around elan and the other drug trades. this is -- matthew martoma stuff. there is a potential they could go and try to find some stuff that happened later. >> sure. >> and the five years would extend. it is also possible that it could be extended if you believe there is a conspiracy. so they could prove six months later that something happened related to these trades, you would still have that opportunity. >> the clock restarts. >> having said that, it seems like it is very unlikely. though we should also say it is possible the sac could bring civil charges -- >> where the bar is lower. >> th

steven cohen's fortune is tied up in this.ost of the money they are managing is his. >> kayla was supposed to be at the court. she's not, i hear you, rob, i hear you. relax. but apparently, i don't know, she did makeup or something or maybe she doesn't need much, though, maybe it's the shot or something, so we will go to bobby kotick, first. >> bobby kotick is the head of acquisition blizzard -- activision blizzard. an investor group led by bobby kotick and his co-chairman brian kelly, that will separately buy 172 million activision shares for $2.3 million. joining us to talk about the deal, activision ceo bobby kotick. bobby, it is great to see you this morning. >> thank you for having me, becky. >> there is big news, it's five years since vivendi bought a stake. five years later you are buying back that stake. stock is up better than 10%. so tell us what happens now. >> well, we're now we're back to being an independent public company. this is a transaction that will benefit the public shareholders. all te acretion in this r

s founder steven cohen will not be personally charged. boeing out with quarterly reports.s by a wide margin for boeing. earning a core earnings of $1.67. that compares with the street expecting them to earn $1.58. revenue also much better than expected. $21.8 billion. that's up 9%. that's a billion and a half better than the street was expecting. they have raised their eps guidance for the full year. now expecting to certain about $6.20 and $6.40. that's an increase of a dime on both ends there. they're also raising guidance for revenue for the year by a billion dollars. and when you look at what's driving this for boeing, it's clearly on the commercial side of the business. take a look strictly at the revenue side. because they are now delivering those 787s and they have increased delivery rate for other commercial lines, all of that is filtering into greater revenue for the company. 9% increase in revenue in the second quarter. and when you take a look at what their guidance is for the full year, they are expecting an increase of a billion dollars. one last thing. the sp

as of right now sac in trouble, steven cohen, not indicted. liz: that is true.et's keep that in mind. he is not yet accused in a criminal fashion. all of this leeal turmoil has us thinking about the founders unbelievable wealth and his passion for collecting art and luxury homes. in doing so he affects those economies. we're calling it the economy. estimated to be worth more than 9 billion, 21 years after he founded sac capital with 20 million of his own money. he and his family live in a one island sound in greenwich, connecticut. that is a town home to many top hedge fund managers. he also pays 60 million to buy an oceanfront mansion in easthampton, playground of wall street's elite. another house already owns. after paying more than $600 million fine. he's currently trying to sell a huge 501st floor duplex apartment in a bloomberg to our next a bloomingdale's in manhattan. that price tag, 115 million. how many bathrooms to mecca many walking causes? also an avid art collector. he owns works like picasso, which you bought for a staggering $150 million. also, h

the government is going after one of wall street's big dogs indicting billionaire steven cohen's hedged sac capital charging it with insider trading and fraud. just latest in sex, lies and money. >>> joining me now, cnn's political power couple, margaret hoover and john avalon. we have seen anthony weiner's wife, huma abedin, stand by her man. new york democrats i don't think are going to be so loyal. after this week's scandal, weiner fell from the top spot. his favorable rating plunged. a second chance. a third chance? >> this may be too far even for new york voters. when you polled 73 of new york democrats. this is only a democratic primary. he only has to be in the top two. he is in a statistical dead heat for the number two spot. 72% of democrats that are going to vote said huma abedin's testimony made no difference to them at all. third chance may not happen? >> is this what voters -- what do you know that he says is true or false? >> the guy is clearly a narcissist. he lied to his family about something he had already been punished very publicly for. you can take the medical rout

so our guest is steven cohen professor of russian studies and history at new york university and princeton university steven it's really great to have you with us today i'm happy to be with you so right so at this point who is snowden more of a problem for the united states or russia. well in my perspective he's a problem for both if we put this in historical context since the end of the soviet union twenty two years ago we've lost several opportunities to create a meaningful cooperative relationship between washington and moscow it appeared a few weeks ago that we had another opportunity the opportunity began with the tragedy the bombings in boston when it was clear that we needed a lot of cooperation in counterterrorism between moscow and washington and then as the syrian civil war whatever it is spun out of control certainly the worst crisis in the middle east in many years it also appeared that washington and moscow were ready to try to do something about that and then came snowden not only snow but he clearly is a setback and i would say both for president putin and president obama bu

kayla tausche has the latest on the case against steven cohen.rning stories. the big one being that the federal reserve is now considering whether to allow banks to continue owning trading assets like oil storage tanks or metal warehouses. the regulator also reviewing a 2003 decision that first allowed banks to trade in physical commodity markets. financial firms' activities in physical markets helped generate billions in profits, and a senate committee will be holding a hearing on that topic this week. if you didn't see the front-page article in "the new york times" this weekend about aluminum and this idea of aluminum warehouses and moving all the stuff back and forth, check it out. also, the cftc wants in on the action. the commodities market regulator has put banks and other big

>> melissa, steven cohen is not named directly as a defendant, but he is the owner of sac

. >> and plus, we are an hour away for the arraignment of steven cohen's sac capital and we will take you live to the courthouse when that happens. first up, starbucks up sharply, and the coffee chain says it earned 55 cents a share in the fiscal third. and same sales remained the same as the expanded menu offerings drove traffic and rose the year guidance and we will have an exclusive interview with the starbucks ceo howard schultz, and jim, the metric of the day, 9% comps in the u.s. people -- it is hard to get your head around that. >> well, these guys have 19,000 stores. i know, 19,000 stores, and glob globally they did fantastic and the operating margins up 25% income points and 13% increase in revenues, and increase in europe, but the united states is incredible. a lot of this, by the way, they were very careful to say that we may not be able to repeat this and we probably won't repeat it, but they are rolling out this food business is just so exciting for them. that is a non-coffee beverage which is evolution and then doing teavana and they had adam rotman on the call, and he i