the judge ruled that bp was 67% responsible for the catastrophe, that transocean was 30% responsibleor the catastrophe, and halliburton only 3%. your sense of the relative guilt of the parties involved here? >> that is really a determination about the fact that bp is ultimately the leaseholder and operator and is -- ultimately bears the responsibility. halliburton's founder performed with negligence and to have made decisions that were illegal and were simply not appropriate for ensuring the safety of this well. and halliburton is the largest of the service countries in the world, certainly one of the largest an offshore oil department. the fact it is making really basic decisions egregiously a negligently when it comes to the risks involved with offshore drilling, which are of course enormous. the largest offshore oil julie disaster in history, $5 million barrels.on the fact is, bp is the leasee, ultimately responsible. it each of these actors made very serious, bad decisions and misconducts including halliburton and transocean. >> antonia juhasz, president obama expanding offshore

this removes that problem for transocean laying the blame at bp's feet. remember in 2010, the fundamentals were gray. as long as you have the oil flowing out the stocks were hammered. the $20 billion in cash. that is great. but the point, you have it hanging over your head. >> i want to thank alix steel. i want to thank raymond james oil and gas joining us from houston. coming up, a conversation stephanie ruhle had on why the best has yet to come for the nets and the berkeley center. -- barclays center. ♪ >> this is "taking stock." i'm pimm fox. new york has some of the biggest sports franchises. they earn big money. there is another team scoring on and off the court. brett sat down with stephanie. >> it has been incredible. it has exceeded our expectations. new york city is the big event. that was our vision. world-class entertainment to the borough. we have delivered on that in so many ways. award shows, the nets. to college basketball, boxing, family shows. we are doing it all. we keep growing. ask how much more programming can you expand into it? you

responsibility. 30% for transocean. 3% for halliburton. is the grossesting negligence is difficult to prove. prove wantonness conduct. as is.g for oil is risky he came down with that ruling saying bp was grossly negligent. the question now is what will that fine be? way it will be determined is how much oil was pumped into the fineof mexico, the maximum be $4300 per barrel. you could be looking at billiong like 17 dollars. and overhe big ax their head. >> shares of bp are down 6%. what is next? asked right now they have to wait. it is a waiting game until the ,ext phase of the trial starting earlier than january 2015. the key question will be what is the actual fine the judge will impose? alluded to isu $18 billion. it could be less than that. one of the questions, how much oil was spilled? there is a difference of opinion. billion is the worst case. that is six dollars per share. in some sense you could say the theet is pricing in midpoint. know.t don't untilmpany will not know 2015. >> what does that due to the stock in the future of bp?

transocean a similar story.owned the drilling rig and was cleared of gross negligence, huge weight off of transocean soldier -- shoulders. >> we will be right back. ♪ live from bloomberg headquarters in new york, this is "market makers" with erik schatzker and stephanie ruhle. >> she's got game. you will hear from the first woman to head a major pro sports union. michelle roberts heads the nba players association. if you want to know with what -- what went wrong with the boston red sox this year, the ceo himself is going to explain. it is not just alibaba. on the web and china are fighting it out over the world's biggest market. you're watching "market makers." i'm erik schatzker. you back to stephanie ruhle on the sports business summit in just a few moments. cory johnson is there, as well. it is time for the news feed. bp may face billions more in fines for the 2010 gulf of mexico oil spill. that bpral judges ruled was grossly negligent in the disaster. the company may face $17 billion more in fines. the europ

the judge ruled that bp bears 67% of the responsibility, and the drilling rig owner, transocean, 30%. bp officials wrote in a statement that a company strongly disagrees with the ruling, and they said the finding of gross negligence is not supported by the evidence at trial. they said they'll appeal. the spill began when the deepwater horizon blew up. experts estimate the rig spewed more than 170 million gallons of oil into the gulf. >>> flash floods in northern india have swept away a bus carrying dozens of wedding guests. local police say at least 50 people are missing. about 60 people were on board the bus in the state in kashmir. it was engulfed by a swollen river and then carried away. heavy rain is hampering the search for the missing. people in the kashmir region have seen the worst flooding in 20 years. 18 people have died in the past two days. authorities are concerned about more disasters as the rain is forecast to continue. >>> north korea will hold a second parliamentary session of the year later this month. the country's parliament usually meets once a year in april. the

transocean was only 30%. halliburton was only responsible for 3%. halliburton got off scott easy.lled negligent, but not gross negligent. the people won't be able to file punitive damages. i didn't get to make as much money as i wanted to, give me more money. that no longer applies to halliburton. it does now for bp. >> what is the monetary penalty from the ruling today? >> we don't know yet. a judge has to declare how much oil was actually spilt in the gulf of mexico. 43 hundred fine is dollars per barrel. it could be as much as 17 or $18 billion depending on what the judge rules was dumped into the gulf of mexico. lookingf that, you are at a continuation of these punitive damages that did not $9.2e in $920 billion -- billion earlier in the year. the cost could wind up escalating. analysts tell me, look, it's not going to happen. exxon fought their fines for 19 years. it has only been four years for bp. we had a statement from bp earlier saying they strongly disagree with the decision issued today and will immediately appeal. end.will fight this to the it could go to the supreme

i just don't want to go near transocean. let's go to zach in new york.ach. >> caller: boo-yah, jim, how are you doing? >> real good. how are you? >> caller: good. my stock is -- >> this company is for real. it wouldn't surprise me if they have a takeover bid. it's not as good as seattle genetics, but i do want to profile it, and will in the next few weeks. alan in louisiana. >> caller: boo-yah, jim, from the bayou. we do love the abuia. >> caller: then 120 and it fell off the cliff. >> let's be cognizant that oil has fallen off the cliff and in the end eog is an oil company. you could have an oil company go up when the commodity goes down. boris in new york. boris. >> caller: boo-yah, cramer from brooklyn. my question is about american rail car industry. >> i like it, but i like trinity more, greenbriar next and then american rail car. remember these are fracking plays, and they can go down. mark in iowa, mark. >> caller: jimbo, a hawkeye boo-yah. >> how much did we love it when we were there? jim cramer from the university of iowa. >> caller: there you

the company is one of three blamed for the spill along with bp and transocean.hey pulled the cement on the well at the center of the disaster. >>> okay. still to come, isis claims to have killed another american journalist. what his colleagues have to say about his life and the work of steven sotloff. >>> more on the u.s. air strike in somalia that target add top leader. but the energy bp produces up here creates something else as well: jobs all over america. engineering and innovation jobs. advanced safety systems & technology. shipping and manufacturing. across the united states, bp supports more than a quarter million jobs. when we set up operation in one part of the country, people in other parts go to work. that's not a coincidence. it's one more part of our commitment to america. then a little time to kick back. earn double hilton honors points with the 2 "x" points package and be one step closer to a weekend break. doubletree by hilton. where the little things mean everything. >>> coming up at 10:30 on a tuesday night on the west coast of the united state

transocean more than 2%. noble also down 2%. >>> diana olick joins us now from washington. hi, diana. >> a disappoint on pending home sales. these are signed contracts to buy existing homes. so an indicator of fall close sales. pending sales fell 1% in august, just over 2% from a year ago. it doesn't sound like a lot, but the price gains are easing and we're still seeing the sales come down. home prices were up 5.1% nationally in july, that's according to a new report from black knight financial services. that, though, is the smallest am gain since november of 2012. now, we do get the case shiller report out tomorrow which has shown bigger price gains, but that report goes back to sales last spring. so realtors are blaming the drop on an exodus of investor, but there is also a drop in overall supply. new listings in august were down over 9%. listings usually come down in the fall, but that drop is about three times the normal rate. so what does all this tell us? there may be pent up demand, but first i'm buyers are still lagging and sellers aren't willing to take the risk.

. >> all drilling stocks of that ilk, whether it'sens ko or whether it be sea drill or transocean arest getting crushed. the day rates are going to fall apart. the highest quality one is ens ko, not the one you just mentioned. lorraine in minnesota. >> caller: hi, thank you for taking my call. i have read all your books and just getting information from that. >> thank you. >> caller: i have a couple stocks that have been getting read, and one is wendy's. >> i think wendy's is fine. fast foot is under pressure. nelson pellets has put hi team in there, and i think wendy's is a good hold, a good hold. let's go to jeff in michigan. jeff? >> caller: big boo ka from michigan. >> a touch game for the mish gain guys, but that's all right culls it was. cheyenne energy. >> that yields 5%, that's the one that sukki, the higher yielding one. i like it more than lng, have for some time. >> dustin in washington, dustin. >> caller: hey, jim, thanks for taking my call. windstream. >> windstream will give you a good dividend, because they're doing that real estate investment trust. i would rather move

seadrill, ensco, unfortunately my charitable trust owns and rick, transocean, you can't own them yet. they haven't bottomed. one day they will. ensco just reiterated the dividend. maur ice in new york. >> caller: hi, jim, boo-yah. we want to thank you for everything that you do for us little guys at home. without you, we'd all be lost. >> thank you. >> caller: i know we had, we liked rbs. >> yes. >> now that citizens financial has its ipo next week, what do you think about that? >> people want to own these banks. they want regional banks. i think that thing is going to be, i'm not going to say red hot. i think it will be a strong deal. you actually want to be in it. i think that bank is starting to rally and it's good. all right. open sesame. the biggest tech offering is coming tomorrow. you know what, i am blessing it if you can get it as high as $80 a share. you know what, i'm throwing in a few dollars more. on "mad money" tonight, you know darden, their stocks are going cold. is it worth taking a bite or eating elsewhere. forget about passwords. i got the play. plus sears and rite

transocean owner of the rig was assigned 30% of the blame.e cement contractor is on the hook for 3%. the next stage of the case is set to begin in january when a judge will decide how much bp must pay. will it be $18 billion? joining us tonight, brent coop, attorney with brent coop and associates. good to have you with us tonight. you have represented a lot of folks down there who have seen a lot of suffering and financial despair in recent years. tell us some of the decisions made by bp that resulted in the ruling as you see it. >> good points. good to see you. the judge made 118 specific findings in this broad based opinion from are a case. bp was desperate to get the p well drilled. they were well past a p production deadlines. they had adverse weather conditions before they were losing 500,000 a day. in the rush to get the well completed and to get the drilling well moved to another place they pulled the plug too soon. there are a number of reasons it wasn't properly ready to be closed out the well didn't find out. the after math we read

energy stocks are the worst performing in the s&p 500 toda., you got big names like transocean, diamond off shore with regard to riggs. range resources and noble corps as well. a nice day for the overall market but energy stocks taking it on the chin. >> bed, bath and beyond. i like the bed department, the bath beyond but t bath but the beyond is where i really do my business. the home goods retailer giving an upbeat forecast for the full year. walmart pushing further into financial services, launching a mobile checking account for its customers that will lieliminate some of the fees charged by banks. reports walgreens may sell a majority stake in its infusion services business. according to reuters, the deal could value that unit at about $1.5 billion. sue? >> stocks posting some gains today. the dow up big. the nasdaq and s&p 500 higher for the first day in four. gold is getting ready to close and it's been under pressure, you can see down $2.40. we have team coverage for you. bertha, we're going to go to you first. >> yesterday a lot of traders were concerned about that death cross h

transocean, diamond offshore, noble corporation, all down by at least 16% and just over the last three weeks here. speaking of drills, it is not just gas and mining stocks but about the gold precious metal type companies, as well. prices have been weak especially in gold despite the slight update today. freeport, both components and down at least 10% just since august 31st. there's quite a bit of downside momentum shorter and medium term with the names. now, it's about how much more downside there is or whether or not enough of these have fallen enough to put them on investor tyler shopping lists. back over to you. >> thank you very much. check out the small caps. they have been taking a baetding down about 5%. there you see it on the russell 2000. is this selloff potentially a time to go doing a little bargain hunting? what did you find, morgan? >> first of all, showing weakness all year and despite that, there are still a number of small companies that analysts are still really bullish on. we screened the russell 2000 for stocks with a $500 million market cap or higher dropping from

responsibility for the gulf of mexico oil spill in 2010. 30% of the legal blame went to the oil rig owner, transocean, and three percent to cement contractor halliburton. the ruling could mean b.p. will pay four times the civil penalties it was originally assessed or, up to nearly $18 billion. the energy giant said it will appeal. a federal appeals court in washington will reconsider a challenge to tax credits under the president's health care law. a three judge panel from the court had limited the subsidies to the 14 states that run their own health insurance exchanges. the administration appealed, and the full appeals court has now agreed to take up the matter. the government of india placed parts of the country on alert today after al qaeda announced it's expanding into the subcontinent. the group's leader, ayman al- zawahri, issued a videotaped message. >> ( translated ): my muslim brothers everywhere, i announce to all muslims in the world and especially in the indian subcontinent, the founding of a new branch. this is to help raise the flag of jihad and the return of the islamic rule in the sub

said that transocean which owned the oil rig and halliburton were also responsible. the judge agreed, but only determined those companies bear part of the blame. b.p. meanwhile has already spent $28 billion in clean up and legal costs. this ruling could bring another $18 billion in claims against the company. >> until i see somebody go to jail, i don't feel justice. >> b.p. issued a statement saying it strongly disagrees with the judge's ruling, vowing to take this case to the u.s. district court of appeals in texas. i want to read a statement by b.p. saying: >> what b.p. is asking for is an impartial look at the case, hoping to yield a differentout come. >> nearly $30 billion b.p. has already paid in the wake of the spill, now the threat of billions more, what has that money already spent done to the company as far as the business front is concerned? >> it's really hit them hard. they had a tremendous amount of legal fees and claims to pay. what they've had to do is divest themselves of 10% of their refineries and pipe lines. we saw yesterday right after this ruling

and transocean hit a bottom. bp a lot of people feel that's the company with russia plus.g wrong at bp. that's not true, by the way. i think bp is recovering well and this is the group that's rolling over for weeks now and those who are oblivious to it recognize this is the hiring machine in the country and unless they can export and start, you know, oil goes back up, the budgets are not going to go up as much for 2015 as people think for oil and gas. this level's got to hold. very important level. >> tying strong dollar and russian sanctions to weaker job growth in this country down the road? >> the oil and gas, the state that is have the big unemployment number that is are really terrific are oil and gas states. that's the leader, president doesn't talk about it. created in oil and gas and don't want to see it go below 90. you don't want to see natural gas back to 3-2. they'll pull back. if they do, then the states that have been booming and 13 states touched very closely by this. have been the job creators. you don't want to see that if you're the fed. it will actually