technology or in industrial companies, he's going >> all right, trish regan of "street smart," and it is time now for "money moves with deirdre bolton. " ♪ >> welcome to "money moves," where we focus on alternative assets. i am deirdre bolton. we show you what entrepreneurs are doing, as well as what is going on with private equity, real estate, and more. up someast may pick assets from charter. we will bring you the very latest on a deal that john malone, brian roberts, and other big execs are crafting. also, apple's iphone sales were lower than expected. john frankel will join us, telling us how that will affect his investment decisions, and a famous museum and a collector in jail. that is all part of south bees -- southby's. tost up, though, we take you president obama, who says he is prepared to use his executive powers in congress stand in the way of his agenda. peter joins us from the hill. peter, will there be a reckoning tone in the president's tone quest? >> he is going to outline this in the state of the union address, and it is an effort by the white house to reassert the a

trish regan explains. >> it is a new twist on an old high.is packing a heated punch. >> it is clean. >> he uses a blowtorch to get a super concentrated hit of thc. it is the chemical in marijuana that makes people hide. high. >> a joint is made up of flowers that has anywhere from 13% to 20% thc. the extract that we have today is around 90%. it is great. >> same drug, just made more potent through chemical engineering. >> it is a concentrate of cannabis. >> the flowers are rinsed with a solvent in a lab. what is left behind is almost a pure blob of thc. it is called butane hash doyle. oil. >> what jake will do is heat it up until it is red-hot. once he gets it to the point, he will put the dome on it. the dome captures all of the smoke. >> recreational use of pot is now legal in colorado and washington state. that includes davits. the legalization movement message has always been that pot is safe. as these striking videos show, amateurs have caused explosions while trying to make butane hash oil in home kitchens. there have been reports of th

trish regan explains. is a new twist on an old hide.is packing a heated punch. >> it is clean. >> he uses a blowtorch to get a super concentrated hit of thc. seelong the sides, you will -- >> a joint is made up of flowers 20% has anywhere from 13 to thc. the extract that we have today is around 90%. it is great. same drug, just made more potent through chemical engineering. it is a concentrate of cannabis. are wrist with a solvent in a lab. winston -- rinsed with a solvent in a lab. what is left behind is almost a pure blob of thc. upwhat jake will do is heat -- heated up until it is red-hot. point, hets it to the will put the dome on it. the dome captures all of the smoke. recreational use of pot is now legal in colorado and washington state. that includes davits. as these striking videos show, amateurs have caused explosions while trying to make butane hash oil in home kitchens. of themve been reports passing out from intense highs. whathas some worried about that means for the newly legal marijuana business. >> certainly. we do not n

thank you, and trish regan. thank you very much, jon erlichman. and our editor-at-large, cory johnson, in san francisco. coming up, bitcoin pushes his luck in las vegas. what makes casinos different than others? they accept bitcoin. that is next. >> this is "taking stock" on bloomberg. i am pimm fox. breaking news. berkshire anhaway is said to face investigation on systemic risk. bearish on bitcoin. 47 of respondents say to sell the online currency. 11% said by, and 35% have no idea. my next guest has an idea. he is bullish on that -- on bitcoin. takeasino and hotel's now bitcoin. you with us.o have explain a little bit how you can use bitcoin in a casino. >> well, good afternoon. for us, we are going to do this for both hotels and our restaurants and our gift shop. up and todayirst is opening day. >> can you describe what the steps are if someone walks into one of your restaurants and tries to pay the bill and says here is my bitcoin? >> no problem. you will out your electronic wallet, it matches up with the system we have. that way you can compl

trish regan has just spoken with carl icahn. i know that apple has been trading down today.that as an opportunity? >> he sure did. he bought another $500 million worth of stock, bringing his stake up to more than $4 billion and buy some of my calculations, one of the largest shareholders in apple right now. there has been a lot of criticism about his plan. he has been outspoken. -- dinnerh dinner with tim cook and has pushed for this buyback. he would like to see $50 billion a year in a buyback plan. it is something that has come under criticism with a lot of people saying that is too much. there are better things to be doing with the money right now, including buying new companies, investing in people and in tech knowledge he. i asked him about it -- in technology. i asked him about it. he said that criticism is ridiculous. with the amount of money flowing with the cash towards, $50 billion should have no affect on the money available for new products. are in mind, new products incredibly important to this company. everybody has talked about the potential for an apple watch

i am mark crumpton. >> i am trish regan. of concerns about the global economy causing a steep decline in the dow. china, othert emerging markets around the globe. >> google announced it will pay $3.2 billion to acquire another company. some have said it is too expensive and evidence of a bubble in silicon valley. can you really put a price on innovation? just today, the ceo told why he sold to google. >> we have been producing new products. we have wanted to roll them out to multiple countries. there are 96 countries where we do not sell. we cannot get there fast enough. going with google, we could get and access to resources to allow us to move these products around the world more quickly. as a small start, you have to build all of it. >> of course, the $3.2 billion did not hurt. >> barry ritholtz wrote about the deal. googletained the risk to is not the cost of such acquisitions but the potential risk to the core business down the road if failing to do so. we will hear more from barry on that. also joining the conversation

trish regan and adam johnson continues. ♪ >> hello, everyone. i am trish regan. watching the big show. the s&p rebounding from the worst slump since june. adam johnson and i have you covered. top 10. yahoo! of nearly three percent ahead of the fourth quarter earnings report due out after the belt. marissa mayer working to attract more traffic and advertising. the results just moments away. the question is whether or not she was successful in this. >> a lot of earnings coming out after the belt. dropping.chnology weaker than expected results. they will continue to invest in any fracturing ability to take advantage of the growth happening in the clouds. storing up in the clouds rather than on your desk. >> number eight, texas industries. agreeing to buy the dealmaker valued at $2.7 billion. the construction rebound in california and texas. >> number seven, american airlines up five percent as they posted the first earnings report since merging with u.s. airways this past month. fourth-quarter sales climbed 8.7% that would exceed estimates because of travel and fair

we will continue in just a moment. ♪ >> i am trish regan.disappointments overshadowing global news as we head into the close on this very snowy tuesday afternoon. look at that. a mess outside. >> it is. i am already terrified for my drive back to westchester. >> i think there is going to be some traffic problem's. johnson & johnson weigh in on the dow here. rate to have you here for the next hour. >> a pleasure to be with you. adam was up at the crack of dawn to do surveillance. he will trudge back home. top 10 right now? >> verizon down despite fourth-quarter profits that beat estimates. less than the record 2.1 million earlier. 3 million more than analysts surveyed by bloomberg had anticipated. the phone company reaching a deal to buy an internet tv service. we have an idea what it means for you going forward. >> who knew? ibm dropping nearly one full percent. the company is due to report fourth-quarter results in just a few minutes. analysts surveyed looking for earnings per share of six dollars flat on revenue of about 28 billion. keep i

trish regan and adam johnson joining us next. ♪ >> trish regan here alongside adam johnson.eading into the close. got out of town. i went to the bahamas. it wasounds crazy, but nice getting wet. >> we've got apple earnings less than 30 bits away. emerging markets not faring so well. argentina -- problems there, china -- >> you pull away the sugar and everyone says wait a minute. we can't buy the lesser quality names and argentina, certainly a big problem. number 10, apple coming out with numbers today. they willzgerald says give a healthy report beating estimates on the top and bottom line. full coverage of the apple results are coming up. >> xerox falling more than five percent. perform -- thet stock's valuation already inflicts the -- reflects the services and makes. >> herbalife, a seven percent rise, the most in more than a month after tim rainey, one of its biggest defenders left its analyst position to work for the company's top shareholders, joining post shareholdings. 1%number seven, cisco down -- the company's valuation is rich versus is earning attentional. >> anot

i am trish regan with erik schatzker and alix steel.get was not the only retailer hacked during the holidays. we probably all heard about that. 70 million people affected. it turns out neiman marcus was another victim. there is news that there may be many more. >> yes. the news broke on friday. we learned more details about what happened. about one million customer credit and debit cards have been compromised. let's put that into perspective. targets numbers are huge. neiman marcus is numbers pale in comparison to others in recent years. you may remember what happened bytjx, people were driving and using wi-fi to steal numbers. target has 70 million, as many as 110,000. -- 110 million. the list goes on. and, as a new englander, it is hannaford. >> i am canadian. when i go back to canada, they are using smart cards. we are not. why? don't smartcards everywhere you go? >> we are americans. we do not need them. we're the largest economy in the world, we do them our way. >> you have a good point. it is safer and more secure. you have to ent

trish regan went to colorado to investigate. is a new twist on an old hide. high. >> really clean.re. >> he uses a blowtorch to get a simple concentrated hit of thc, the chemical in marijuana that makes people high. >> along the side you will see these. >> adjoint is made up of flowers which has anywhere from three to as high as 20%. the extract we have here today is around 90%. as crack is to cocaine, davin is to pot. same drug, just made more potent through chemical engineering. inhaled, orextract marijuana flowers are rinsed with a solvent in the lab. .> it goes in through the tank it comes out of the bottom into the collect your number right here. what is left the hine is a sticky, almost pure glob of thc. >> this is the concentrated part. it will heat up until it is red- hot. he will put a doma on it. the doma a sickly captures all of the smoke. dome captures all of the smoke. coloradonow legal in and now washington state. the mayor water -- marijuana rationalization is it is safe. as the striking video show, amateurs have cost explosions while trying to make it in home kitche

don johnson knows a thing or two about betting in vegas and trish regan went behind-the-scenes.story about how one no- name card shark became a vegas legend, winning $15 million in the matter of months will stop >> every gambler knows when you play at the casino, the art -- that on star not in your favor. the house always wins and the rules are set in stone. >> if you play the big six wheel , the wheel right in front of the casino, you don't have much of a chance. >> he's the ceo of mgm which it owns a third of the casinos on the vegas strip. but let's say you're going to spend a thousand dollars will stop theoretically, we are going to win 20% of the money you circulate. >> on average, you will lose 20% of the money you play. but what if you could change the rules and twist the odds? >> we will negotiate for high- end players. johnson is a blackjack player who won $15 million in atlantic city in a single winning streak. >> i beat them big. >> is because he's in industry insider who knows what to negotiate before he stepped into the casino. for starters, he wants a that's. >> th

. >> live from new york, i am trish regan. >> i am mark crumpton. welcome to "street smart."ing into the final minutes of trading. stocks across the globe are tumbling. the dow is heading to the worst week since 2012. it is now off 255 points. we are seeing a selloff in emerging-market currencies. we will tell you what is behind he

i am trish regan. we have full team coverage of tonight's state of the union address.ned by al hunt and josh green here in new york. white house correspondent julianna goldman is with us from washington. al, i went to start with you. there were something special about a night like tonight. it is part of our tradition as a nation. >> the majesty of this venue is maic

♪ ♪ >> we got a big selloff underway live from bloomberg headquarters in new york, i'm trish regan. >m mark crumpton, welcome to "street smart" on this thursday. >> we're seeing a lot of downside. here we are just about an hour from the close. we have the s&p and dow off better than 1%. a pretty down day all around. the nasdaq down almost a percent. we have a lot to cover. on the agenda, we're talking about h.l.f., the drama playing out on capitol hill. shares are plummeting on news that a u.s. senator is calling an investigation into is gations that the company a pyramid scheme. >> and richard sherman, his post-game interview has gone viral. we'll focus on how to manage the message without jeopardizing sponsorship dollars. >> that was unbelievable. i was feeling for erin andrews in that one. moments ago, we got news that the u.s. attorney's office subpoenaed chris christi's campaign for documents related to the bridge-gate scandal. the got news that the u.s. attorney's office subpoenaed chris christi's campaign for documents related to the bridge-gate scandal. the former campaign man

trish regan found out. knows, the odds are not in your favor.wins, roles are set in stone. play the big six wheel, right in the front of the casino, you do not have a chance. is ceo of mgm, which owns one third of the casinos on the vegas strip. >> you will spend about $1000, we will win $200 from you, about 20% of the money. average, you will lose 20% of the money you play. what if you could change the rules and twist the odds? >> they will negotiate for high end players. johnson $115 million in atlantic city and a single winning streak. >> i beat big. >> he is an industry insider who knows exactly what to negotiate before he steps in a casino. for starters, big bets. >> they were letting me play $25,000 a hand, $75,000 a swing, it is not hard to win $4 million. >> it is not hard to lose $4 million. >> i did not have $4 million to lose. >> he negotiates a 20% rebate off of all of his losses. he turns his attention to the rules of the game. >> walk me through the rules that they were -- that were so advantageous. thetanding on soft 17, dealer ge

our own trish regan travel to denver to find out more.ew twist on an old high -- this is a blowtorch? >> this gets it done quickly. >> it is packing a heated punch was >> rocklin, very pure, lots of people are feeling this is the new wave of cannabis is days. blowtorch to get a super concentrated hit of thc, the chemical in marijuana that makes people high. >> along the side, you will see all of our mothers. >> they sell pot in denver. >> the joint is made up of flowers which has anywhere from a 13 or send to a high of 20% thc. what we have today is around 90%. >> 90%? >> ef. it is great. -- as crack is to cocaine, dabbing is to pot. >> it is just a concentrate of cannabis. >> to make the thc extract and held in dabbing, marijuana flowers are rinsed with a solvent in a wrap. >> a goes into the tank through over thewashes extraction, goes through the bottom into the collector. >> what is left behind is a sticky, almost pure blob of thc called butane hash oil. >> what jake will do is clean up the ports now until it is red- hot. once he gets

i am trish regan. >> i am mark crumpton. welcome to "street smart"

. >> we ran a story on a bike trish regan.alking about a threat to the business model. >> i find it extraordinary. they even got comment from the trade body which is called the national cannabis industry association. they have a run on these places selling the stuff. lines,are going up, long stores are selling out. the price has gone up almost two full to they started selling it. >> if you legalize it in just two parts of america, people start -- people might gather in those places. an issueis a point of of vertical integration. now we are going into the business law. the places that sell it after gross 70% of it and they're only allowed to buy a small portion from other growers. expect them to grow a whole lot more in the future. >> have you been to colorado? >> i have. the one thing i thought -- find slightly distressing but this photo. are any of these people going to go skiing under the influence? that would not be good. switzerland,and they have a little bit of schnapps before they hit the slopes. why would it be any wors

trish regan it takes us behind the scenes.loggia bellagio casino nightclublusive hyde is one of the most expensive tables. part of its value is the view. 1200 water spraying robots, glass. $40 million. inside the club, the fountains are made of champagne. profitable club in vegas per square foot. the average table costs $8,000 per night. this 1, 200 $50,000. $250,000.e, the number of people who reserved the stable in 2013 -- two. that is out of control. where casinos eager to get their hands on the high rollers? trish explained. >> if you are spending a couple million box at the casino, they want to give you everything they can, they want to keep you there. macau?his competing with >> macau has done incredibly well and has significantly surpassed vegas. as to the documentary is that it looks at the challenges that we faced year for the gaming industry over the course of the last several years. it is through the eyes of that particular player whom you saw. millioned to win $15 playing blackjack within the span of a few months.

in a special one hour documentary called "the player," trish regan takes us behind the scenes.gambler don johnson. gambler don johnson. >> inside mgm's bellagio casino at the exclusive hyde nightclub is one of the most expensive tables. i like this table. >> absolutely gorgeous. >> part of its value is the view. 1200 water spraying robots, glass. $40 million. inside the club, the fountains are made of champagne. hyde is the most profitable club in vegas per square foot. the average table costs $8,000 per night. this one, $250,000. what makes it different? this red button. the cost to set off these fountains -- $10,000. the number of people who reserved the table in 2013 -- two. >> i want to keep hitting the button. >> that is out of control. where casinos eager to get their hands on the high rollers? trish explained. >> if you are spending a couple million box at the casino, they want to give you everything they can, they want to keep you there. i want to push that button. >> is this competing with macau? >> macau has done incredibly well and has significantly surpassed vegas.

program will be anchored by trish regan.ng to a major development in the world of technology in health care, a company called is america's largest optical ensure. they provide insurance to 60 million individuals. they maintain a network of 30 million providers. they announced a partnership with google and with me to tell me more is jim mcgrann. he is the resident of vsp vision care. he joins us from sacramento, california. i noticed that you are not necessarily wearing google glass right now because they are not readily available. when they are, what should we all come to you? you will help us pay for this? >> exactly. great to be here. thank you for having me. this is a pair of them right now. the new prescription eyewear that is being launched today. he is the global -- vsp global is excited about being involved here. we're excited for our doctors and six to 4 million mappers. we are made up of four businesses. covers onecare which in five americans. we also have the third largest designer and distributor of eyewear as a c

. ♪ ♪ ♪ >> we got a big selloff underway live from bloomberg headquarters in new york, i'm trish regan, welcome to "street smart" on this thursday. >> we're seeing a lot of downside. here we are just about an hour from the close. we have the s&p and dow off better than 1%. a pretty down day all around. the nasdaq down almost a percent. we have a lot to cover. on the agenda, we're talking about h.l.f., the drama playing out on capitol hill. shares are plummeting

i'm trish regan. have a wonderful light. ♪ >> this is a midterm election year. >> it seemed like it was utterly .anal >> there was one thing today. there were some things on the .arned income tax credit it is more to create an image. i was watching your telecast. they thought that not much was .iscussed in inequality that's not a vote-getter. theou are talking about minimum wage? >> if you don't make enough money, the government will actually give you some. is the most efficient way of addressing poverty than addressing the minimum wage. thought snowden won. the fact that the administration back at all the little bit on surveillance policy is a huge, .uge change generally it's about political theater. >> a speaker we have come to expect amazing oratory, it fell flat and that will be the criticism we will see in the coming hours and days. eventually people will forget about it because he did not outline many bold initiatives other than a few relatively modest things he might be able to achieve unilater

you can watch the full program done by trish regan later in the program. staying on gambling.ino tycoon has become the richest man in asia. estatetook a real developer for the number one number onefor the spot. if you look at casinos, a cable that costs 250,000 dollars. you understand why they are becoming the richest men in the world. >> there is a name for the casino business right now. it is booming and macau is seven times larger than las vegas is right now. richest man in asia, one of three major casino operators in macau right now. 90% of his revenue is coming from macau. it is a good time for him. trend for casinos going to continue? >> it seems to be tied to the chinese tourists. they are the ones that are flocking to macau. all over the world, they are trying to cater to and draw in the chinese dollar. everyone is trying to get the chinese consumer. macau is the closest place for them to go. benefits from the rise of casinos. is it the luxury makers in the london casinos? >> no doubt. luxury is having a boom much like the casinos. it is uncertain economic times. realt

i'm trish regan. join me for an unprecedented look inside america's marijuana industry.

. >> and trish regan. she's the author of "joint ventures inside america's almost legal marijuana industry" and former senior drug policy advisor to president obama, kevin sibet. kevin, i'm going to start with you. here's what the polls are showing. the public is clearly behind marijuana. why are you and your former boss, president obama, willing to back legislation? >> well, i think, first of all, we have different polls. the ras mucin poll showed it was majority opposed. washington post poll showed it even. the cnn poll, your poll with orc as well as the gallup poll showed differences. this is about creating the next big tobacco. the reason the american medical association is on the side of opposing legal sales of marijuana, the reason why the american society of addiction medicine and almost every major medicine association is we know this will create the tobacco industry of our time. we have people selling candies, edibles and all of these sorts of things that appear to kids. loly pops. a 2-year-old gi

. ♪ >> i am here with trish regan.ur guest host, bill cohen. >> we have been talking a lot about banks and goldman earnings out. city earnings out. not so good there. one trend is really clear. salary. they are declining in terms of what the bankers are making. bonuses these days are not as good as they were before. the am dying to hear what founder of venture capital has to say about it. now teachestion startup 101 at draper university. beingyou very much for here. >> thank you for having me. >> let's talk about the growing divide between what is happening on wall street and what is happening on silicon valley, a world you know by virtue of being a venture capitalist. on the subject of bonuses, goldman sachs is still a lucrative place to work. average compensation about goldman sachs was $384,000. less than it was in 2010. what would you say to a 23-year- graduating from stanford or 24-year-old with an mba? go to goldman sachs? >> no. draper university. we set the school up so people like that not quite knowing what t

. ♪ live, i have alix steel, here with trish regan. betty liu will be here in the next hour.mer. he created wall street's first global political risk management company. good to have you here. >> i'm getting all my sleep. >> this is the week at all the sleep. >> what are you looking for? >> i am for people who are excited. they were much more excited last year because of the turnaround. after all of these years, they can see the end of the tunnel. this year, they realize that we are picking up. is a long slog. there is no easy breath in what will be an uptick, but difficult. o period. lots of europeans a topmost. hings are good

i am trish regan.uest host this hour, steve case, cofounder of aol. >> right now we want to get to capitol hill where democrats and republicans came to a deal on a spending bill. cake down then road. how many more are waiting? peter cook has been digging through this. looking at how many more things are on the agenda. 1.1 trillion. is a rare moment of bipartisanship. in washington and continuation of the budget deal last month between patty murray and paul ryan. spending levels in washington for the next year or two. this bill agreed to last night thect of late goals out numbers specifically. that is why this represents compromise. neither side got everything they wanted. this should past the senate tomorrow and this -- passed the house and senate later on this week. >> enqueue. this is a bit of an optimistic sign. there are some that say perhaps the worst is behind us. there are important things on the agenda like immigration that have not happened yet. what are the chances of immigration reform? >> i

"street smart" continues with trish regan and adam johnson on the next. ♪ lex hello, everyone." is heading into the close. stocksslightly closer -- slightly lower ahead of the confirmation of janet yellen. it's time for the 10 stocks of the day -- walgreens deigning after reporting an increase in december sales. the drugstore chain says they -- same store sales were 6.1% last month as customers filled more solutions. nine, solar state is up and first solar is down. goldman upgrading them saying company is well-positioned to capitalize on the rooftop market. but it could get cut based on lower margins. shares hauling due to an analyst note, analysts say whole could befit margins increasing a discount amid higher profit margins. >> no discount there. number seven is ebay, shares falling almost three percent. getting cut to the equal weight from overweight. >> the mattress maker anticipates its fourth-quarter earnings per share will come in below the low land of the entire forecast. ailes from cyber monday through the end of december missed targets. come on, people, go out him by

. ♪ >> i'm trish regan with adam johnson, we are heading into the base, and we have a snap ck.e days, but you're right. >> up more than 300 points on the dow. , thember 10, marriott tallest u.s. hotel building here in new york city. on the corner of broadway and hotel.78 room courtyard it is a pretty big building. >> let's go see if they have a bar on top, it would be fun to see the view. , these changes were made in part because the ock was's st downgraded. this security company was , -- terms of the deal not disclosed. the toymaker may miss analyst .rojections wait -- they say barbie faces misses. some are really anti-barbie. tried to buy me a g.i. joe. i was a lego guy. people do not like to give their daughters or sons barbies because -- >> it reinforces a stereotype? >> but if they wanted it, they could turn on the db, i'm just saying. >> we have gotten so politically correct, by the kid a barbie. these, irobot, up seven percent. this is the company that makes the roomba, they've a new one that scrubs the floor, the scuba . who has nothe guy idea what a sliver is -- swiffe

a serious schedule for trish regan. >> it is the end of a long week.ame in. 74,000. i was really surprised by this. >> very low compared to analyst estimates. >> adp had shown up looking pretty good. >> you said you did not trust those numbers. >> i did say that. i trust economists a little bit more in terms of their predictions. what does it all mean for the economy and what does it mean for janet yellen, what does it mean for you? we have experts joining us. annie bell -- anybody else as surprised as me by the numbers? surprised in aat sense and i was at the same time. there are statistical issues. as a very short shopping season and you layer on the weather. there was a chance you could get something like this. >> i have seen a number like this in my carmaker sales reports. december was cold. is that an unexpected issue for december to be cold? >> the winter is always cold. usual orcolder than warmer than usual, then you do get these fluctuations in the data. we expected zero construction jobs to be created. we were surprised at the drop. we argued

. >> stephanie ruhle in for trish regan. let's look at the big picture. >> these are three charts that will show you right now what is happening. we got a little rally. up this morning, down this afternoon. trying to win back some of the loss from yesterday. we are just below the all-time high we sat on the 31st of december. is gold. up about .8%. georger john paulson and soros got out. >> ring the bell. hello. this is a big call the kel out -- came out of citibank. you have to sell the euro. right now, the euro is 1.3591. .ou are going to go to europe >> indeed, i will be in. close in three weeks. lucky me. >> i tell you what. we are going to our lead right now. it is a big day for boeing. to be voting for a third time on a new contract that would enable production on the 777. that would begin next year in washington. if they say yes, they will get a bonus and a contract extension. , boeing willo likely move production to another state and washington will face a credit ratings downgrade. that is how big the stakes are. this

. >> he is very close to trish regan, joining us now to talk about what is happening with pot in coloradoa very big deal. it is now legal in colorado for recreational purposes. it had been for medicinal purposes and prices have doubled. >> it is amazing. the first of january, this new law took effect, which allowed people to buy marijuana for recreational purposes. you did not need to have a doctor prescription. you can go up and say, i will buy some and you can smoke it there in the privacy of your own home. what has been amazing is what is done to prices. >> the law of supply and demand. demand will go up. >> demand has gone up here you have seen lines just stretching out. as a consequence, we have seen prices double. before to run about $200 january 1 for a medicinal ounce of marijuana and it is now going or $400 an ounce. for recreational use. that includes point percent tax. to your point, supply and demand. i would argue over time, as this asomes more prevalent and you remove the criminal element, and in other words, it is less risky to grow marijuana and sell marijuana, then how ca

i am trish regan.in the next hour. >> our guest for the hour will be steve case. he eased ceo of his own investment firm, revolution. -- he is ceo of his own investment firm, revolution. i like to support startups. fargo earnings are coming out. scarlet fu breaking the numbers for us. >> earnings-per-share of a dollar that appears to beat the consensus estimate of $98 or share. first quarter provision for credit losses 300 $53 million. that appears higher than what analysts were looking for. anticipating 320 $3 million in terms of putting aside money. efficiency ratio speaks to wells fargo effort to bring down expenses. this is the targeted measure for cost cut. .5%.ope ratio is the ea they were

i am erik schatzker with trish regan and our guest host, jack welch, who led ge for a couple of decadesfamous guy. alix steel has a check on futures. >> it is 26 minutes after the hour. bloomberg television is on the market. stock futures are inching their way higher with the nasdaq in .3%,ead up almost indicating stocks could extend the biggest rally we saw yesterday in a most four weeks. bank of america quadrupled, which helps stocks as well. >> thank you. as theyalking google, are outspending the top five --als combined diversification, large-cap companies. if you look at the numbers, 17 billion spent in the last two years on hardware and software, and the deal announced this week, $3.2 billion for next. this is a company on the acquisition trail. jack, i would think this should give us hope when you see a company like google putting money to work, investing in new technology, it has to mean that google believes in the future, and there is a lot of text that could be coming our way. >> without question, google is taking swings. when a company is flush, one it has a dominant position,

street smart trish regan joins us now. we have paul sweeney of bloomberg industries. our coast for the hour. that seems like a fun piece to do. >> what you did not see in that piece just now is a legendary gambler. he won $15 million playing blackjack in a span of just a few months in atlantic city. he did not cheat. he did not count cards. how did he do it? this documentary looks at the ther ability -- vulnerability and the industry that exists today and how you can exploit them. things like this table. are giving way perks. he negotiated things that are far better. give gamblersg to his tips tonight. you're going to show people how -- how he has $118 million. >> do they want to keep them out ? >> he could walk in off the street like anyone of us and play a normal game of blackjack. what he has managed to do is even out the odds for himself. whalese desperate to get like him in the door. >> they're willing to make some concessions on smoke the rules -- some of the rules. almost like the casinos themselves are addicted to gambling. it is their business. they have to k

i'm trish regan. we are just minutes from the close. it is time for your top 10.an all aluminum version of the top-selling f150 truck at the detroit auto show. alan mulally tells matt miller he is confident in the country's decision. >> that is incredible. in u.s.-selling pickup history. twitter is up one percent. the target stock price. >> number eight is quicksilver, down 3%. it is being sold to charity for $19 million. they plan to use the proceeds to pay back debt and invest in emerging markets. >> the drop in holiday shopping traffic was deeper than anticipated. consumers waited until much closer to christmas to shop. >> wendy's jumped about 6% today. the forecast beat analyst estimates. wendy's also announcing a share buyback program and expects 235 million dollars in proceeds from the sale of more than 400 separate restaurants. searching one, news it is being bought by japanese beer maker. include jim beam and maker's mark. it will create the world's third-largest premium spirits company. inventory, itmium is an interesting cultural matchup. you have this j

he spoke with trish regan about why, and here is what he said. >> there is no reason they should be togethern our opinion, i think it will be helped i a management team that is separate and can go its own way. and i think the multiple would go up dramatically and also the help of the company would be better. >> carl icahn, activist investor . our guest host, scott galloway, carl icahn called for the splitting off of paypal. is there a synergy between paypal and ebay? does it make sense? >> almost none. carl is absolutely right. paypal is a joke or not. grew 19% last year versus ebay, which -- paypal is a juggernaut. own the we used to discovery card? sears. they talked about the synergies. one person benefits, the ceo, because they get to smooth out earnings. make it to diversify. but here is the issue -- investors do not need the ceo's to diversify for them. they want them losing sleep, they want them focused, accountable. spinning off paypal would actually be a creative to shareholders. it would be the right thing to do. probably will not happen. >> there is not a long-term value to combin

schatzker with trish regan and alix steel. have are thrilled as we jack welch.ector of the jack welch management institution. >> good morning. >> lots to talk about. jack, i'm sure you know we are in the midst of earnings season. wells fargo and jpmorgan reported yesterday. bank of america reported this morning. and the $13rgan billion settlement with the doj a couple of months ago. going into this quarter with bank of america, everyone was expecting brian moynihan would have to take a big litigation reserve. it does not appear that was the case. why do you think that

i am trish regan alongside adam johnson. we are heading into the close of trading. e racing this week's loss. the dow up triple digits. so much for this sea of red ink that we saw yesterday. change.ce for a >> we had decent economic data. the dowy siegel thought was going to 18,000 this year sticking toain -- that target. >> he said a little bit of bad news is good because it is a reality check. >> facebook is rising. revenue jumped 63% in the last quarter. facebook has generated more than half of its revenue from mobile devices. >> best buy is falling again today. it is down about 5%. they are eliminating around 950 jobs. will include both hourly and salaried workers. alexi on showing the highest gains in the s&p 500 after they forecast profits above analyst estimates. analysts got it wrong again. i cannot believe it. it's a rare blood disease treatment. postedvegas sands fourth-quarter earnings that trailed analyst estimates, but the company reported a double- both inmp in revenue macau and las vegas operations, but macau is the cash cow right now. >> 68% of sales