joining me in an exclusive to discuss the results is toll brothers ceo doug yearley.e program. >> thanks for having me kelly. >> let's talk a little bit about what's going on in the housing market. you guys, we use as the proxy for the luxury space what was behind this revenue miss? even as i see, looks like your price points are still going up? >> yeah. that's really just mix. i think everyone's much more focused on our order growth for the quarter which is our sales. so our orders were up 25% on a dollar value and our backlog is up 9% which is really encouraging. our sales this spring have been good. obviously these homes are big and take a while to deliver. the revenue comes through about nine months later. that's really the focus is the order growth. >> doug is the housing market all regional again? where are you seeing strength? what areas are still lagging? >> it's a very, very local market. california is on fire. 30% of our business is now in california. coastal, northern and southern cal. new york city urban division is still doing very well. dallas, texas, is

tomorrow broth toll brothers is up. we've been waiting for the correction trades. they haven't really happened just yet. so you want to playhouse i housu still with toll. >> broke through 292, 293 today. can come off at the end of the day, but you have a nice risk/reward set up here where 290 is probably the line in the sand. so you have $2 worth of risk and if we do get any type of housing recovery, or even if this is just a one or two offseason al, this this thing could go to a blow off top. so you're in with a $2 risk. >> feels like a snap back from some weak data. and when you kind of like back it out, you look at the other data, last week we had really poor retail sales. haven't seen any wage inflation. >> 140,000 members or whatever it is, more of a survey versus real numbers. so i think this one today carries more weight. >> because of the other -- not just the retail. that's more interesting. but the kb homes, you do not chase that thing. that is in a massive down trend. i think it will probably see 12. >> don't do that. >>> all right. coming up, we're head

. >>> toll brothers vorted better than expected. the luxury builder raised the low end as the demand increasing but revenue came in below consensus as the number of homes the company sold declined. shares fell more than 2% today as you see there. >>> home prices rise at a national clip that could mean a fast profit for house flippers but it is not as easy as it looks on the tv shows. tight inventory is upping the competition and the risk. diana olick has the story. >> this d.c. rowhouse is in a transitional neighborhoo on capitol hill. and it just went through quite a transition itself. thanks to real estate agent and house flipper crystal get. >> our goal is to come in and redo the house from top to bottom regut it and remake the house. >> tha what she and her contractor husband did after repurchasing the home last aug. it paid off. it sold in five days above asking price with multiple offers and they made a 15% net profit and in this pricing market is not easy. >> it is like finding the needle in the haystack. you are trying to fi

home builder toll brothers and costco will be reporting quarterly earnings.monday the markets are closed for memorial day. tuesday, durable goods orders for april are due. those are items that range from refrigerators to airplanes, things that don't have to be purchased frequently. also tuesday, the former morgan stanley cfo will have her first day at google. she is the new cfo. and on friday the second estimate of gross domestic product for the first quarter will be released. it is memorial day weekend and america is paying tribute to the men and women who gave their lives for their country. it's also a time to think about our veterans. many have transitioned successfully to everyday lives. but there are others who face financial challenges. joining us right now is our senior personal finance correspondent sharon epperson to talk about how veterans can make the most out of their money and their future. and sharon we know that the economy has been recovering. it's helped out americans across the board. i just wonder if that in itself is helping the transition

meantime earnings at toll brothers topping estimates.t short but the company is raising the lower end of its average selling price forecast for the full year as demand strengthens. >>> there may be fewer house flippers today, but those in the game are reaping some record rewards. cnbc's diana oleic joins us with more. >> reporter: good morning, joe. house flipping, which is defined as buying and selling a home in the same calendar year made an average gross profit of $72,450. that's a record high since reallytreal realty track started watching this. today's buyers are looking for turn-key properties and they are willing to pay a premium for them. still, for flippers like crystal goetz in d.c. it is getting tougher to flip with very tight supply in the market today. that's why 4% of home sales this year were flipped. that's the lowest again, since 2011. >> it is like finding the needle in the haystack. you're trying to find that diamond in the rough that is in bad enough condition. for us our goal is to completely come in and redo the hou

more important i want to stress the term toll brothers just this very morning said right now sales arechoppy and the stocks said more than 2% or very big update to the market. you don't raise rates when things are choppy for a nationwide builder with a fabulous reputation. we may just now be getting to 1 million housing starts. why can't the fed wait until we get things further along. strong enough company more so we have more demand from paint to bedding and flooring and tools all of which are doing fine but have room to run. there's an impression on the part of many of the fed heads that house as good hot enough and business is good enough in this country that they have to act. business is actually declining in this country. there's an inevident bltability about the rate hiking. i say get more comfortable being on hold until the dollar is truly down and housing sales are so strong and retail sales are so strong they have to be handed by rates. the robust home sales could be the fed simply determine that june or september must produce a rate hike or else. let me give you the bottom li

contracts to start new home or buy new homes, hovnanian, kb home, ryland, toll brothers, hovnanian getse. will it be bye-bye amazon and hello to google's new buy button? google is joining the onstop purchasing arena by putting a buy button next to searches. will it be the new normal or people remain loyal to amazon because they have the amazon prime membership? head for technology scott kessler lives and breathes these names. i looked at this and i thought okay, they're going to put a buy button next to things they search would make it easy peasey, there's more to this story, does this make amazon nervous, scott? >> well, i think in short, no. i think that amazon definitely is interested in what companies like google are doing, and look, this hasn't even been launched yet, i think it was confirmed about a day ago by longtime google executive at the code conference. the buy button is coming and it's launch is imminent. essentially what you're going to see is in search ads within google, you're going to have the ability to directly click and be able to make purchases. we're not so certain

. >> toll brothers getting hard and speaking moments asking making some very interesting comments on the higher rates of the business. take a listen. >> if the rates pick up slowly because of strong economic moves, we will be fine. i will take a four percent rate any day. four and a half percent any day with a good economy. >> yeah the key is how it goes up. >> the sales were down and they narrowed the physical year and home deliveries. not huge. a percent two and it's down ten percent and that seems range bound. the years on the ten year have been moving around and we're not seeing the movements in mortgage rates. we don't know that and he does not know that too. >> if you think about who his buyer is and if the portfolio is doing well and there's a raise, they can afford and that gives them more confidence. i feel more comfortable on a toll. >> really. >> yeah. because i they there's more bang for the buck there. >> we have been showing this. >> and the formation chart. it's the lower end if you're going start out and form our own household, you're not going to be a luxury buyer in

also want to look at toll brothers, the largest u.s. luxury homebuilder.t very slightly at this link. their quarterly earnings went higher because of the lower tax provision they got for the decline in revenue. some of the housing numbers we have only have been improving so we will see how that dock trade throughout the day. carmel, the maker of spam -- or mel -- hormell, the maker of spam, getting into the organic foods business. like many competitors in processed foods they have been making acquisitions in the natural foods industry to try to tap into the growth. stephanie: that makes me gag in my mouth. spam, going natural? taco bell all natural? except we have a shell made out of under burrito. julie: it will be a separate unit within. spam will not go organic. that would be an oxymoron, wouldn't it? erik: yeah. where briefly, i want to go back to the point the tracy -- the point that tracy was making about investors being concerned and having to pay the people who are borrowing the money who in theory should be the paying for the luxury of getting cre

you have for example toll brothers and luxury home builder moving to the downside and earnings were in line with expectations and revenue fell a bit short. work day is down more than 10% and a weak forecast for future billings with that stock. it makes human resources and palo alto networks and the report reporting earnings after the bell. we had a problem with the boards right now. if you are listening on the radio, it makes no difference. >> you can't see it. you took us through it easily. thieves able to hack in and get information including tax returns. more than 100,000 taxpayers live in washington. tell us wa we know about who may have done this and whether the leak has been plugged or not. >> the irs is blaming cyber thieves saying it was likely criminal gangs that got into the website as posing with taxpayers. what is fascinating is they say these thieves already had a tremendous amount of information about the taxpayers before they came to the irs's website. they said one of the screens here for example in asking questions to prove you are who you say you are was what was your

you can see toll brothers now at $36.99. down by around 1.86%. they believe the average price of deliveries for the full fiscal year of 2015 will be between $730,000 to $760,000 per home so earnings up 36 cents per share. oil and shale are battling out for market share. which is likely to gain the upper hand? analysis on what's next in the sector coming up. plus fifa is due to hold a press conference any minute now. we'll bring you that live as soon as it happens. don't go away. >>> spacex is cleared for u.s. military launches and an ipo is on the way. >>> goldman sachs sees brent staying around $65 barrel from 2016 to 2018. increased shale production means they're expecting a $5 per barrel price assumption in 2020 and goldman identified several companies that could end up big winners. let's get that list head of european energy research joining us here in studio. help us understand how you find opportunity in the energy market when we're seeing so much volatility in the price of oil. >> it's a time of great change and the industry is completely

i looked at toll brothers this weekend, very strong. housing complex is good, but there's john stump, the ceo of wells fargo saying it's a muted housing recovery. how long can we build so few homes? some of it is obviously zoning but in the end, the housing demand has not come back yet, yes the refinance and rebuild and refinish and make your home better trade has been extraordinary. williams sonoma might be a good tell this week but they were hurt badly by the port strike and said it could be hurt again. >> and any expectations you have in terms of housing starts being anywhere near once -- maybe it was so beyond what anything ever should have been, it truly was completely false. >> but we're building as many homes and we were building in 1960 when we had less than half the population. >> that's a good statistic. i didn't know that. >> yeah -- >> half as many as 1960? >> in the '60s we built far more, when the country was in half. california had just become a state that is passed new york now one fifth of the economy, though it's dry t

brother get in the car? >> yes. >> cell towers and a toll booth camera track the car as it travels toward a secluded area of an industrial park. >> it's now 3:23 and odin lloyd sends his sister that final text, telling her he's with nfl, adding, just so you know. but the judge rules that what he wrote is not proof he thought he was going to die. as lloyd sends that message, headlights in the upper left of this video can be seen pulling into the unlit section of the industrial park, where odin lloyd is murdered. prosecutors say it's the altima. for the next three minutes and 40 seconds, there is no movement

brother get in the car? >> yes. >> cell towers and a toll booth camera track the car as it travels toward a secluded area ofrk. >> it's now 3:23 and odin lloyd sends his sister that final text, telling her he's with nfl, adding, just so you know. but the judge rules that what he wrote is not proof he thought he was going to die. as lloyd sends that message, headlights in the upper left of this video can be seen pulling into the unlit section of the industrial park, where odin lloyd is murdered. prosecutors say it's the altima. for the next three minutes and 40 seconds, there is no movement on screen. then headlights re-emerge. the time in between, prosecutors say, is when lloyd is shot dead. around that same time, employees working the overnight shift at the industrial park, are jolted. >> i heard a loud bang maybe four or five times. i thought it was fireworks. >> it was about six or eight loud sounds. >> hernandez's home is just a half mile from the murder scene. at 3:29, the altima pulls up in hernandez's driveway. jurors see video of the crime scene and odin lloyd's bullet-riddled body. a lab scientist

brothers or manco and manco. i'll go see every single one. if you're heading to the poconos, so far so good approach the mid county tolls, we have a couple of brown down vehicles not impeding traffic. no delays on the northeast extension if you heading north. if you're staying in town, detective vorn horse show began yesterday, that time of year again meaning extra traffic lancaster avenue and door set road. don't forget the lemon sticks. low hanging wires at myrtle avenue. the college of new jersey has its graduation ceremonies once again. that means until 7:00 p.m. green lane out of commission, hulmeville road gets you let around that local blockage. no issues organ the highways this morning. a lot of you will take to the ac expressway eastbound i expect the heavy traffic to kick in around 1:00 p.m. 2:00 p.m. if you're waiting a little longer between 5:00 p.m. and 6:00 p.m. no tolls at the egg harbor toll a promotional event between 5:00 p.m. and 6:00 p.m. that's the good news. the bad news if you're trying to get between sea isle city and avalon, you can't do so by the townsend inlet bridge. they were hoping that the construction would wrap up

and now, you have the brother, new the new leader raul, coming to the pope not only ex-tolling the virtuesf the pope but supposedly afterwards saying if this pope continues in this vein i will begin praying and may return to the catholic church. this is revolutionary. >> i know part of the vatican's foreign policy is two-men relation and we have learned the pope was integral in the u.s./cuba diplomatic negotiations. pope francis seems to be a mover and shaker. to what do you attribute his effectiveness? >> ana, i think people see him as someone walking the talk. they see him as a down-to-earth person who has real people's concerns at heart and he seems to be acting on it. he is not afraid to speak his mind. he is not afraid to inject himself into such political conversations as the cuba/united states relationship. and so i think what people are looking once again to the pope and the vatican for is this kind of moral leadership that perhaps some feel has been lacking for a while or has been a he is tan sign the vatican to enter into some of these frays. this pope does not seem to hesitate.

toll rises across texas and oklahoma. >> it's very thick and wooded in some parts making the search much more difficult. >> reporter: just south of houston the body of 73-year-old alice tovar found by her brother-in-law after she was separated from her car swept away by the ravaging flood waters. >> i'm glad we found her. didn't have to leave her out there. it's a relief. >> reporter: this as the frantic search for the missing continues. but the severe weather danger isn't over. a tornado hit an oil rig in northwestern texas wednesday resulting in several serious injuries. >> take the heed and the warning. get out now. >> reporter: residents just south of houston now leaving on a voluntary evacuation as flash flood watches continue to span central and northern texas up through kansas until sunday. and the rivers all across this region are filled to capacity. some of them still overflowing their banks. and so the last thing you want to hear is more rain. of course more rain is in the forecast though. this region expected to get about an inch or less. areas to our north though could possibly get higher amounts. and then we always know chris, that you could get caught in one of those isolated dow

congressmen are so busy with the koch brothers that i don't get two damns -- they don't give two dams about the rest of us. . host: all right, david. being told that the death tollw at six in this crash. outside of philadelphia, this amtrak commuter train that derailed last night around 9:30 p.m. eastern time. out in toledo, washington. democratic collar. what are your thoughts? caller: good morning. thank you for c-span. we have a problem with infrastructure. we depend on the rail to get our goods to market, to get our goods to ports for export. in my own area, in recent weeks, we have had a young girl killed on a railroad track because of separation. we have had to collisions with costs, one with a light rail system in seattle, when just a couple miles from here where a car was hit and the driver killed. we know that we are doing very poorly, but we are so cheap. we don't want to pay taxes, we have investment in infrastructure from 100 years ago that is still being used. it should be upgraded. it should not -- it works it has been proven, but so long as we don't want to pay taxes and everything is about doing it on the cheap. we are going to continue to have p