sue is at the new york stock exchange and check in with us in about ten seconds. also today, jamie and the whale and ina and the new guy now in charge of that unit over there in london that lost $2 billion. president obama's spokesman weighing in on the case. we've got it all covered. let's start first with sue at the corner of wall and broad. sue. >> and you said it, ty, it is a down day. there were earlier on an awful lot of losers on the big board with about 25 to 30 dow components lower. dmodties getting roughed up as well. we'll get to that in a minute. we're going to talk stocks with bob pisani. i'm impressed by the fact the market has managed to come back so considerably. we were down 1 0 points earlier this morning. >> yeah. almost 160. we've gained back 60% of that. and it happened even before the markets closed in europe. we had a nice spike up when that happened. industrials have rallied. some tech stocks have rallied. there you see, i think the bottom line, sue, there's not a lot of places to put your money in the world. money is coming into the united states. the dollar is up 11 days in a row. we haven't seen that in three and a half years. look at that rally in the last month in the dollar. of course a lot of money going into bonds. stocks not so much a beneficiary, nonetheless here the markets not coming down as much as the rest of the world. the one sector i would point out before i get your point, financials really aren't moving. >> that was going to be my point. >> yeah. look. jpmorgan was below 36 at one point. morgan, citi group, wells fargo, it's not doing anything today. >> do you think the underpinnings of the market will allow it to move forward without the financials or not? >> no. it's going to have a real hard time. i'll tell you why. a big part of the earnings in the second half of the year. we were expecting an earnings push up in the second half of the year. largely in technology and energy stocks. if they don't contribute, we're going to have a problem. >> bob, see you in just a minute. over to you and matt. >> matt will be hanging with us on "power lunch" for the week. he's our stock buddy. how are you trading today's market? >> today's focus is obviously jpmorgan. europe has gone secondary here. right now we're probably trading financials aggressively. s&p 500 here at a price of 1350 obviously with great support on friday afternoon. obviously we broke below that. i look for maybe a retracement back to 1290 in that regard. but as far as financials go, i'm probably looking more toward the regional banks such as wells fargo or usb. that's where i would be putting my money right now. i think some of the bigger banks are in the penalty box as we go forward and get into july here for the volcker rule. >> matt, thank you very much. back to sue. >> ty, commodities are selling off today. the gold market has been roughed up considerably. but we're going to focus on oil because it dropped to a five-month low. bertha coombs is tracking the crude trade for us now at the nymex pits. >> yeah. looks like we're going to have back-to-back new 2012 sentiment lows if we continue at this pace in terms of wti-nymex crude. while wti nymex is off more than 4%, brent is still up more than 3% for the year. but if you look at what funds have done in the past week, they cut their net loss position -- long position on brent by 77%. so a lot of folks looking for more volatility there. overall, funds are cutting their net long positions when it comes to commodities and if you take a look at the thompson jefferies crb index which tracks commodities, it is down here to near a two-year low. back to you guys. >> thank you, bertha. a new day of drama at jpmorgan chase. a new exec is named to fill the seat of ina drew. shown the door is her unit lost $2 billion. president obama's spokesman saying a short time ago that loss is a reminder of controls installed after the 2008 financial crisis are necessary. jay carney also saying wall street lobbiests are trying to gut those projections. the stock on jpmorgan is down by another almost 2% on the trading session down better than 13% for the week. here's mary thompson. >> well, as expected some high profile departures following the bank's disclosure of a $2 billion trading loss that could reach over $3 billion. sunday on nbc's "meet the press," jamie dimon calling the loss a mistake. >> we did lose $2 billion in trading. in hindsight we took far too much risk. the strategy we had was badly vetted, badly monitored, it should never have happened. >> on the losing side of the trade, ina drew, one of the most powerful women on wall street, she's retiring stepping down from her role as chief investment officer. she ran the unit responsible for the loss. also leaving, two high ranking london based executives who worked for drew. unknown is the future of the whale, iksil, known for his big trade. the shake up also giving two of dimon's heir apparents added responsibilities. replacing ina drew is matt zames and remains head of capital markets while relinquishing the role of co-head of fixed income. mike kav na will manage the executive task force charged with overseeing the firm's response to the loss. the bank saying while cavanagh continues to run tss, most of its time right now will be spent on this project. dimon will be meeting with shareholders tomorrow in tampa, florida. we'll be there live with any breaking news. back to you. >> mary, thank you very much. best buy shares hitting new multi-year lows. the struggling electronics retailer saying former ceo violated company policy by engaging in an extremely close personal relationship with a female employee. best buy also saying that board chairman richard schultz acted inappropriately when he failed to bring the matter to the audit committee when he first learned about it. mr. schultz now stepping down from his position. he was the founder of the company. elected director tyabji will succeed him. yahoo! shares a bright spot on this down day. the struggling web giant trying to put the ceo debacle behind it. the temporary ceo trying to rally the troops in his first memo after scott thompson resigned. the memo says "today's announcements lay to rest the unfortunate and serious distraction following our senior leadership and the composition of our board going forward. in spite of the bumpy road, we are traving meaningful places every day and heading in the right direction." scott thompson revealing he has thyroid cancer and resigning following questions of his academic accomplishments. chesapeake's higher. investor carl icahn buying back into the imbattled nat gas giant. news could turn up the pressure on chesapeake, which is facing a cash crunch and a corporate governance problem. the stock is down to its lowest level since 2009. and let's turn back to matt cheslock to ask him what he would do with chesapeake, yahoo! and best buy. jump all, matt, take which one you want first. >> i would start with chesapeake because i'm most positive on that. i think it's a buy based on valuations level. the fact they got money from goldman the other day will help them out. as far as yahoo! i'm more neutral to negative. i'm not sure they can get over the fact of the revolving door with the chairman role there. and last but not least, best buy, i think you look at amazon, what they've done over the last little bit i think going from 40 to 200, obviously they're taking a huge market share from best buy. and i would be a buyer of amazon, not best buy. >> all right. matt, thank you very much. to sue now. >> with some breaking news, ty. right at this moment california governor jerry brown is holding a news conference outlining staggering new figures on that state's budget deficit. so could austerity be coming to the golden states? jane wells is live in palo alto, actually covering facebook, but even an ipo that big isn't enough to bridge this gap. >> no, sue. the money made in this town is what is fueling the economy right now. and it's just not enough. we already knew we had a $9 billion deficit. that's ballooned to $16 billion over the next 13 months. many analysts not surprised because they thought the governor's earlier predictions of tax revenues were too optimistic. they in fact were. in fact, during the month of april income tax revenues came in $2.5 billion almost below estimates, which was a big surprise because april is tax month. now to solve this, the governor wants voters to approve a quarter cent temporary sales tax hike and also an income tax hike for people in california making at least $250 million and for california millionaires including a lot of people at facebook later this week, their state income tax rate could rise to over 13% just in state income tax starting the beginning of the year if voters pass that initiative. and that is one reason why facebook is going public now, because capital gains are taxes regular income in california and the six-month expiration on cashing in some of those stock options would expire before december 31st if there is a new tax hike after the first of the year. sue. >> timing indeed is everything in that case. jane, thanks so much. well, unless there's a major breakthrough in meetings taking place right now, it looks like the next thing to watch for in greece is a date for new elections. it comes as european bankers are starting to talk for the first time about a eurozone without greece. take a look at the greek 10-year over the last month. we have seen a spike in the 10-year. we're now at 28% almost 28.5% there. michelle caruso-cabrera is on the case. a lot of people are wondering at this point whether or not we're likely so see more greece out of the eurozone than we would be last year. >> absolutely. for the first time we're hear ago lot of central bankers, a lot of european leaders say it's possible greece is going to leave the euro. and maybe it's not going to have that huge an implication at least compare today a year ago. that does not mean that greece leaving the euro won't be problematic. it will be. the markets, bankers, central bankers have had a year to prepare. all of that has to weigh on the minds of the greek leaders who arrived at the presidential palace in the last half hour. they must know greece leaving the euro first and foremost will be extremely hard on the greek people. assuming a new currency that would fall 50% to 75% compared to the euro, which would lead to the equivalent of inflation rising in that country by roughly 30% when you talk to various market participants. adam laric, a scholar at the american enterprise institute thinks greece's gdp falls another 20% in the following year if greece leaves the euro. remember, greece's gdp is already down 20%. let's be frank, at this point european leaders are far more worried about the rest of europe and the greek situation not spreading contagion to the other countries. at that point, if greece were to leave the euro, many market participants believe the ecb would finally step in and say unlimited liquidity for any banks that are affected by greece. the effect on the u.s.? definitely negative. systemic in the way that lehman was, maybe, but not necessarily. most people are saying no. instead, it's just far more likely to be the economic ripple effect that effects the u.s. imagine southern europe in recession for the next five to seven years in a worst case scenario. tyler, all the ripple effects that come with a huge portion of the world economy becoming so weak. >> and the question whether greece is the first domino that might ripple through to other countries in southern europe. >> in theory, if the ecb steps in, that shouldn't happen. but we don't know for sure. >> michelle, thanks. >> yeah. >> it's been a mixed picture for the airlines year-to-date. delta up 41%, united 27%. hawaiian air flat, southwest, jetblue, alaska, they're all down. today we're getting a report card of sorts on the carriers. phil lebeau on the phone from chattanooga. phil. >> tyler, this is the monthly on time or late arrival data that comes from the department of transportation. and there's good news when it comes to how the airlines did in march. let's start with the first three. the top performing on time airlines, hawaiian, air tran, u.s. airways, they have traditionally been near the top of the reports and they were in march. 82% of the flights arrived on time in march for the industry and just 1% of the flights were canceled in march. here's the real news here, if you look at the first three months of this year, 84% of the flights were on time. that is the highest rating ever for the first quarter of the year when they've gone back and tracked this for the last 18 years. the bottom three for the month of march, united, virgin america, express jet, express jet just 74% of its flights arriving on time. and quickly as you take a look at the airline index, one other thing to keep in mind, tyler and sue, just three of the tarmac delays that we like to check on, there were none that were over four hours. but the three that were happening in march all happened because of a storm in st. louis in the middle of the month. but overall, mild weather contributed to the airlines having a very successful on time arrival month. guys, back to you. >> phil, thank you very much. the facebook countdown is on. next up, what privacy concerns could mean for the stock after the ipo. before the break though, let's take a look at some top stocks on a down day. these are some winners including bmc software getting some interest. chesapeake the same. avon higher by 4.5%. gamestop and yahoo! up. and now for some of today's biggest losers. frontier communications, metropca, jpmorgan down better than 2%. and intel off nearly 2%. well, assuming all goes as planned with facebook's ipo, the fun begins in about 77 hours. that will bring us to thursday evening. today the focus though is on privacy concerns and what that means for the bottom line. julia boorstin's live in l.a. with that part of the story for us. hi, julia. >> hi, sue. well, facebook is built on the idea that people want to share. so it needs to ensure that people don't feel like facebook is sharing their information against their will. so the social network points to privacy concerns as a risk factor both from regulators and users. facebook says in its s1 that it's "subject to complex and involving u.s. and foreign laws and regulations regarding privacy, data protection and other matters" and concerns related to privacy and sharing safety security. so ahead of its ipo, facebook wants to make privacy policies clear and simple. proposing changes and asking users for comments and feedback. and it's launched a dedicated page for everything privacy related with information about facebook's ten different policy documents clarifying how facebook can use data and making it easier to adjust settings to control personal information. the company just wrapped up a q & a with users about those privacy changes stressing that users do have control over what they their and whom they share it with and explaining how facebook uses information to target ads. it's not just the ipo prompting these changes in this transparency. facebook says that it's responding to an audit from the irish data protection commissioner, the addition of new products and feedback from users. so, tyler, this is definitely a space to watch. >> julia, thank you very much. as we get set for that facebook ipo on thursday, we're talking to several big players in the vc world all week long. scott sandell is with nea just ranked number 14 on forbes' mightest list of most powerful venture capitalists with a focus on enterprise, i.t., electronics and china. scott, welcome, good to have you with us. >> thanks so much, tyler. it's a pleasure to be here. >> after facebook, what's the next big area? is it the cloud? what? >> well, clearly everybody's focused on the cloud. but i think the cloud is really about infrastructure. it's about the inventing and reinvents of all the infrastructure that makes up the net. it started with google when they discovered they would be so big none of the existing technologies would work for them. so they decided to hire thousands of brilliant engineers and re-invent everything for themselves. once they did, they showed it could be done. but they saved that mostly for themselves. so there's a whole new wrath of start-ups that have created and served them out. including facebook. fusion io went public about a year ago has been a big vendor to facebook and apple and other cloud vendors. >> which companies of the ones that you're looking at in the cloud area have you most interested right now? >> well, i'd have to say we're most excited about the ones that are really far along in which we think will offer some of the best ipos in the next few years companies such as tablo software which solves the problem of understanding the huge amount of data which is not generated through these networks. as you know, big data is a theme you're going to hear a lot about. >> talk to me a little about groupon. a company you helped bring public over the past year. should i be worried about this company? should i trust the management? does it have a future? >> well, we trust the management. and we believe in the business model, which i think gets a lot of attention, a lot of controversy. but fundamentally there hasn't been a company that has scaled this fast in a long time. and i'm not allow today say too much about it publicly, but but think -- i would encourage people to look at the underlying fundamentals and not so much pay attention to the rhetoric. >> scott, thank you very much. we appreciate you're being with us. he's with venture firm n.e.a. thanks again. thursday at 1:00 cnbc's going to go inside facebook literally to find out how the company makes money. hear whether you should invest in it. and find out just how much money everyone involved is going to make. don't miss facebook, the social offering. that's at 1:00 p.m. eastern only on cnbc. and only on thursday. sue. ty, you know, the hottest charity event of all is coming up tonight. robin hood and his merry wall street men and women get together. we have an insider's take coming up on how much money they're going to raise. and we're talking about an air war, not the dog fight kind, the presidential fight kind. new shots have been fired. we're watching and we're back in two minutes time. [ man announcing ] what we created here.tes time. what we achieved here. what we learned here. and what we pioneered here. all goes here. the one. the accord. smarter thinking from honda. looking for a better place to put your cash? here's one you may not have thought of: fidelity. now you don't have to go to a bank to get the things you want from a bank. like no-fee atms -- all over the world. free checkwriting and mobile deposits. now, depositing a check is as easy as taking a picture. free online bill payments. a highly aimedrd with 2% cash back into your fidelity account. open a fidelity cash management account today and discover another reason serious investors are choosing fidelity. are you still sleeping? just wanted to check and make sure that we were on schedule. the first technology of its kind... mom and dad, i have great news. is now providing answers families need. siemens. answers. welcome back to "power lunch." brian shactman here at the markets desk. as tyler was touching on groupon, groupon was touching highs of the day. take a look at the stock. it's up about 20% plus for the day. they report after the close. julia boorstin will break down the numbers for a preview in the next half hour. but two cents on $530 million in revenue is the key here. keep in mind you see 21.5%. it's still down more than 40% for the year. but the volume, people positioning in front of these earnings is furious, already double more than their average daily volume. tyler, to you. thank you, brian. now to the political air war where the obama campaign is taking dead aim at mitt romney and at wall street launching new political ads attacking romney for his work at bain capital. john harwood with us now. john, one ad hitting two big issues for the president, jobs and anger at people who make money on wall street. >> no question, tyler. you know, last week the president got diverted into a gay marriage discussion. now he's going sharply back into economic concerns and economic philosophy with his two-minute ad which goes after mitt romney for his record on bain capital. and specifically what happened to a steel company in missouri after bain purchased it. here's the ad. >> bain capital walked away with a lot of money that they made off of this plant. we view mitt romney as a job destroyer. >> to get up on national tv and brag about making jobs when he has destroyed thousands of people's careers, lifetimes, just destroying people. >> he's running for president. and if he's going to run the country the way he ran our business, i wouldn't want him there. >> now, the romney campaign responds by saying that those bankruptcy and job losses occurred after mitt romney had left bain capital. he wasn't even there anymore. but of course the romney campaign has its own frontal attack on the obama administration and economic record because they're looking at conditions right now. here's the romney campaign. >> the unemployment rate did drop but only because fewer people are in the work force. >> i'd ask if you are better off than you were before. >> i'm just not seeing a ton of sunshine in here. >> transportation warehousing is where we lost some jobs. >> that's a terrible number. >> the real question. >> job creation numbers fall for the third straight month. >> it's not just about how we're doing today, but how we'll be doing tomorrow. >> now, sue, you can see there was a lot of cnbc in that ad because of course the core economic concerns are core to us as well. this discussion is being supercharged now by the jpmorgan losses of $2 billion with the obama administration saying this underscores the need for wall street reform and regulation. and of course the romney campaign saying we're for regulation too, but we're for common sense regulation, not dodd frank. sue. >> the battle goes on, john. it's only going to get more heated. thank you so much. now for the negative of the year, and it is gold. gold is back into negative territory. we're back with metals close in just a minute. and prince william is about to get a big pile of money. not that he doesn't already have a lot of money, but we will show you where this one's going to come from coming up. to supply affordable, cleaner energy, while protecting our environment. across america, these technologies protect air - by monitoring air quality and reducing emissions... ...protect water - through conservation and self-contained recycling systems... ... and protect land - by reducing our footprint and respecting wildlife. america's natural gas... domestic, abundant, clean energy to power our lives... that's smarter power today. welcome back to "power lunch." brian shactman here at the markets desk. a lot of investors like to see insider buying, right? take a look at the "power lunch" pop on skul. they make headphones. vp of finance bought 18,000 shares at a price of $13.82. look at the move in the stock. now up 6.3%. sue, up to you. thank you, brian. been a tough session once again for the gold market. gold giving up all of its gains for the year dropping to a four and a half month low as well on fears of the eurozone debt crisis. bertha coombs is back tracking the action from the nymex. >> sort of interesting. it used to be when we had the euro a little stronger, the dollar a little weaker, gold would move. now gold seems to go downright along with the euro. and all of the concerns about the fact that we are seeing potentially greece exiting from the euro, a fiat currency being a problem, gold is not the safe haven that it was. partly perhaps because of the concerns about a global slowdown. we had slower than expected data coming out of china over the weekend. continuing to see that slowness there. so perhaps you don't have to worry so much about an inflation hedge and going into gold, sue. what's interesting today, sue, is that copper is getting hit harder within the metals complex then are gold and silver. nonetheless, if you were to look year-to-date, silver and copper are both still up while gold is negative. back to you. >> thank you, bertha, very much. bob pisani is back with me here on the trading floor. and, you know, bob, we dipped down a little bit. but you were mentioning the fact that volume really is kind of -- >> bertha had a very good point. gold is not a safe haven play. it's a play on fiat currency to the extent we're not worried about inflation anymore. that's an issue. where we do see play is the classic safe haven plays. the bonds rally, the dollar is rallying. put up what we have for today and this is a pattern for the last week and a half with the 10-year moving up, bunds hit a new high. we're not doing much here. we were down 2% in europe bear in mind. so down 0.7% in the s&p is a bit of a victory. >> so what do they want right now? earnings came in pretty good. is it simply more clarity on the euro? is it jpmorgan? is it a combination of the two of those thing sthings? >> i think right now short-term we need clarity on what's going on in europe and a little clarity on jpmorgan. high yield funds are continuing to hold up very well. people need some kind of yield. that's the single most important thing. >> search for a little alpha in the portfolio. thanks, bob, very much. let's head to the nasdaq. seema mody joins us right now. she's following the big moves there. >> hi, sue. yahoo! is dominating the headlines. the company seeking direction after ceo scott thompson resigned. the market is seeing this move as a plus. that continues to be a stock we watch closely. switch to biotech, we're seeing a lot of moves there. vertex in specific after an analyst at jpmorgan raised their rating on vertex to overweight from neutral. and price target to $82 a share from $45. the analyst cited optimism over the company's cystic fibrosis drug. ty ler, back to you. seema, let's turn now to bonds. fears of europe driving investors to the safety of u.s. treasuries. yields on the 10-year falling to their lowest level since last september. let's look at the bonds market action. there we start with the three-month t-bell. it's dead in the water. why? it pays no yield. look at that, 0%. no change, basically. 2-year note, the yield is up a little bit. but the 5-year note's yield, the 10-year note yield, 1.78 coming down and the 30-year t bond the yield there moving down. jane, let's go to jane wells monitoring jerry brown's news conference talking about the growing state's budget deficit. jane. >> tyler, yes, the governor just wrapped up a news conference on how he hopes to try and close a $16 billion deficit. and somebody asked him what impact facebook going public may have in helping close that budget. here's what he had to say. >> who knows. that's wall street. you know. if jamie dimon, who's supposed to be a real smart guy can't know that he's losing $2 billion, it's kind of hard to know. so i hope facebook brings in a lot of money. but i'd leave to speculate exactly how much that will be. but we don't have -- this is not money in a piggy bank. it's millions of complex transactions, buyers and sellers in a free market. what that results in and how it translates to taxes, that's a matter of guesstimate, not confident prediction. be cautious. >> now, the legislative analyst office has made a very broad best guess, tyler and sue, thinking that over the next three years or so facebook could add $2.5 billion to california's tax coffers, but they say that's just a guess. back to you. >> jane, thank you very much. stocks slipping on renewed concerns about europe. the question is what is the impact on the markets if greece exits the eurozone? let's bring in portfolio manager of the artisan international fund, one of the top international funds all around. up nearly 16% so far this year. four-star fund. welcome. you've got more than half of your portfolio at recent checks in europe. why do you feel secure about that? and where in europe specifically are you investing? >> hi, tyler. nice to be here. tyler, most of the companies we have invested all over the world. for many of them, less than half, sometimes 20% or 30% of their business is done in europe. so it's no different than investing in coca-cola in the united states where most of their profits come from outside the u.s. most of the companies we own, most of their profits come from outside of europe. >> so linda, nestle, anheuser-busch three of your larger holdings. those are obviously world brands. what, however -- what happens if europe leaves the -- excuse me, if greece leaves the eurozone? >> well, that's the $64 million question. a lot of people think that if they leave then the pressure will be so much on the spanish and italians that they'll leave and then you won't have a euro anymore. you know what, it's something that i don't think anyone knows the answer to. i think what you want to do is invest in really good companies that are well-managed that have very strong business models that throw off a lot of cash, pay dividends and are going to be around 20 years from now. >> yeah, i wish it were only $64 million in that question, mark. but it's a lot more than that. am i hearing you basically say that as an investor, as a portfolio manager, you are playing past? in other words you're sticking to your knitting and buying what you think are really good promising long-term companies. >> we're buying companies that we think will be there, we think are relatively bullet proof, companies like budweiser, people will be drinking bud 50 years from now. and our company's going to be making a lot of money because of that. >> take your point on bullet proof, thanks very much, mark. appreciate it. >> tyler, thank you. >> sue. >> well, ty, it seems like all the pro sports are playing right now, except of course for the nfl. but we have big news for vikings fans everywhere. a new stadium is on the way. and darren rovell is tracking progress on a new place to play for the purple people eaters. darren. >> that's right, sue. governor mark dayton basically signing the bill that the state senate had approved late last week. $975 million stadium for the minnesota vikings. this took a very long time to get through. $477 million will be what the vikings will pay to make that happen. there will also be the taxpayers about $500 million. and they'll use -- try to boost the state gambling revenues to pay that off. minnesota really deciding to pay more recently for stadiums, target field of course a couple years ago for the minnesota twins, they paid $350 million, taxpayers did, out of the $480 million. by the way, the university of minnesota will make some money off this because the vikings will play at university of minnesota's tcf bank stadium until the new stadium is ready. sue. >> darren, thanks a million. all right. let's recap some of the other big headlines driving today's session. light squared edging closer to a bankruptcy filing. the hedge fund manager has until 5:00 p.m. today eastern time to reach a deal or face a default on $1.6 billion in loans. the postal service says it is stalling plans to close 600 urban and suburban postal branch offices and satellite stations. and "the wall street journal" says apple plans to update icloud. gearing up to report earnings in just a few hours, what you need to know when we trade the stock back on power. but not how we get there. because in this business, there are no straight lines. only the twists and turns of an unpredictable industry. so the eighty-thousand employees at delta... must anticipate the unexpected. and never let the rules overrule common sense. this is how we tame the unwieldiness of air travel, until it's not just lines you see... it's the world. recently, students from 31 countries took part in a science test. the top academic performers surprised some people. so did the country that came in 17th place. let's raise the bar and elevate our academic standards. let's do what's best for our students-by investing in our teachers. let's solve this. coming up on "street signs" at the top of the hour, is jamie dimon getting off too easy in the wake of that $2 billion trading loss? what about his bonus last year? his chairman title? we're going to ask bethany mcclain, author of "all the devils are here." plus, mark zuckerberg's fashion sense? time to lose the hoody, maybe. and tyler going to be joining us as well to help us tip our elbow to the spirits behind makers mark. he's going to have a little show and tell, right, tyler? back to you guys on "power lunch." >> you guys are lucky. wish i was going to be there. as brian mentioned earlier, daily deals like groupon getting ready to report earnings after the bell. and investors are expecting a rebound in sales. julia boorstin is in los angeles with everything you need to know ahead of those numbers. julia. >> well, sue, despite groupon's massive gains today, it looks like it's up about 18% intraday today. the stock is down nearly 50% year-to-date. and the company's fighting to regain credibility after s.e.c. probes, lawsuits and a reinstatement of fourth quarter earnings, adjusting revenue and earnings downward. ceo an drew maison can expect intense scrutiny of first quarter results and guidance due out after the bell. wall street is looking for $531 million in revenue in earnings per share of a penny. but some other metrics will also be in focus. margins and growing marketing costs as well as the number of active customers, both in the u.s. and abroad. we can also expect an eye on how much consumers are spending on average. on the earnings call we can look for analysts to ask about groupon's long-term strategy and impact of some new tools including groupon now, groupon scheduler and groupon rewards end results down the line. tyler, over to you. >> thanks, julia. let's head to matt cheslock and find out he would be playing groupon at these levels and ahead of results. number one, why do you think this stock is up 20% three hours before earnings are out? >> i think first thing first, there might be short covering going on right now. we're seeing a massive move and seeing it quickly. also i think people are excited about it. they're anticipating the earnings here especially with facebook going on this week too. i think tech's in focus. it's an easy player right now. >> would you touch it? >> i would not touch it right now. i'm a holder based on valuations at these levels based on the ipo price and where it is now. i'm not too excited about the move today. i think they have some questions to be answered. payout percentages and shrinking margins will be addressed as we go forward. back to you, sue. >> thank you very much, matt. well, it was founded in 1988 by hedge fund legendary paul tu dor jones. the most exclusive fundraiser in wall street history. last year's event raised $50 million or close to it in a single night. can they top this figure tonight? let's ask robin hood's leader, david saltsman. we welcome you back to "power lunch." good to see you, david. >> good to see you. thanks for having me. >> how much would you like to bring in? i mean $50 million or close to it last year. an amazing sum, certainly. but the robin hood foundation gala is known to surprise in many different ways. >> we'd like to bring in as much money as we possibly can. 1.8 million new yorkers live in poverty. we're hoping to help as many as we possibly can. >> i noticed it's kind of a who's who on the board of directors. one of those happens to be a hedge fund manager who was on the winning side of the chase -- jpmorgan-chase trade this week. do you expect mr. dimon of jpmorgan-chase to attend the dinner? is he on the list? >> he may be here. and again he may be busy tonight. >> come on, give me your best guess? >> i haven't spoken with him. >> all right. david, in terms of what the gala raises, it all goes to charity. and all of the expenses are underwritten by the board of directors, correct? tell us more about that. >> robin hood's board underwrites 100% of our administrative and fund raising costs. so every single penny we raise tonight and every night goes right out to help our neighbors in need. >> good luck, david. appreciate it. >> thank you. we need it. i appreciate it. thank you very much. >> ty, over to you. >> thank you, sue. up next on "power lunch," happy 28th birthday mark zuckerberg. so what do you get a guy who's literally has roughly anything he wants? we got some ideas also from 1984, prince's "purple rain" was the top song. eddie murphy's beverly hills top cop was the first movie, apple's mcintosh was we leased and the year mark zuckerberg was born. 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[ shapiro ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom today and make your business dream a reality. at legalzoom.com, we put the law on your side. brian shactman here at the markets desk. i've been keeping a close eye on federal express. news came out that the united states postal service is backing out of closing 600 urban and suburban branches there. fed ex very closely aligned with the united states postal service. will they come in and do more? who knows. on a down day fed ex gathered steam throughout the day and now in positive territory. tyler, back to you. >> brian, thank you very much. joining me john carney, cnbc.com's net-net senior editor and cnbc's simon hobbs. first up, the eurozone crisis, greek politicians failing. and meanwhile in sacramento a budget deficit soaring to a projected $16 billion. which is the bigger worry, guys? greece or california? simon. >> if you're in california, california. it's going to effect the dollar in your pocket. it's going to effect taxes. and it's a talisman for austerity to come here to the united states. europe is potentially awful, but the europeans will do whatever they can to keep it coming to these shores. so it's only a probability. california is a dead set. >> no way. greece is far worse for the united states. look, california is not going to default. they'll have to do serious budget cuts, it will hurt the economy in california. greece is a much bigger threat for the entire world economy. >> i am with simon on this. i think california's the thing because i think you're dead right on this, simon. i think it is a talisman for what could come in this country. let's move on to the next one. few days after jpmorgan's $2 billion loss, the bank is set to hold its annual shareholders meeting tomorrow. a topic on many investors' minds, should jamie dimon's chairman and ceo position be split in two? john carney, what do you think? >> look, this is a humbug of the good corporate governance types. they love the idea of splitting the chairman and ceo. it actually doesn't really help very much. here it wouldn't have helped stop any of those giant losses we saw at jpmorgan-chase. i think it's a nonissue. there's no real point in doing it. >> not a question of corporate governance says john carney. >> i come from a land where they usually split ceo and leaderships. i think two brilliant minds working together as a team are better than one brilliant mind and i would say, yes, you should split them. if not split jpmorgan-chase itself perhaps. >> that may be the bigger question there. too big to fail, too big to manage, too big to succeed, ultimately. facebook's ceo, mark zuckerberg, turns 28 today. social network expected to ipo thursday could bring a value of that company to $100 billion. already a billionaire. so what do you get for the man who's about to have a whole lot more? simon? >> i would buy him tickets to the london olympics because the london olympics was won for the uk on the promise it would be about young people and bringing them to a state where they could value themselves and achieve more in life be that on the athletics field or not. i think zuckerberg with that attitude would be an extremely powerful phenomenon. >> getting tickets for the olympics. that's a good one. what do you say, john? >> mine is a lot cheaper. what do you get for the man who has everything? he doesn't have everything as far as i can tell he doesn't have a tie, that's what i'd get him. >> he does. he wore it when he was with obama. >> i'm with you. i like the high minded thought there, simon. but i say go buy yourself a nice suit. even a hoody for goodness sakes, sue. >> i was just going to say upgrade the hoody or bring it down a little bit. i just think if you're asking people to invest in your company, you need to dress -- not completely dress the wall street part, but just a little bit. >> but on the other hand, you know, if steve jobs -- >> people can dress like grown-u grown-ups. he's not a 25-year-old. it's time to put on a jacket every now and again. >> thank you. mark zuckerberg not the only one about to get a win. prince william in line to inherit more than $50 million from his late mother, princess diana's estate. that happens when he turns 30 next month. the money will come in handy. right now he and his wife, kate, rent a cottage in wales and have an apartment in london. royal insiders believe they may use the money to buy a country home close to william's father, prince charles. they call those kinds of trusts spendthrift trusts. talking bourbon. how makers mark made their millions. and i'll be demonstrating here live how they get their signature wax seal on the bottles. that's coming up. little tasty. you know, typical alarm clock. i am so glad to get rid of it. just to be able to wake up in the morning on your own. that's a big accomplishment to me. i don't know how much money i need. but i know that whatever i have that's what i'm going to live within. ♪ ♪ ♪ we have product x and we have product y. we are going to start with product x. the only thing i'll let you know is that it is an, affordable product. oh, i like that. let's move on to product y, which is a far more expensive product. whoaaa. i don't care for that at all. yuck. you picked x and it was geico car insurance and y was the competitor. is that something you would pay for year after year? i, i like soda a lot but for a change of pace... for a hot dog cart. my mother said, "well, maybe we ought to buy this hot dog cart and set it up someplace." so my parents went to bank of america. they met with the branch manager and they said, "look, we've got this little hot dog cart, and it's on a really good corner. let's see if we can buy the property." and the branch manager said, "all right, i will take a chance with the two of you." and we've been loyal to bank of america for the last 71 years. more news out of greece as the coalition government is trying to be formed. the leaders that are now trying to do that have not had, obviously, much success. therefore they are trying to extend those talks into the latter part of tomorrow. we're going to see whether or not the market has reaction to that. one analyst i talked to earlier said at least they're still trying and they aren't throwing up their hands and saying that they're having trouble doing that. they're going to try it and see whether or not they can get it done tomorrow. as for the leaders in today's market, there have been a few, believe it or not. cisco systems, merck, kraft food and boeing all on the plus side. the gains mostly by cisco systems leading the market. the laggards include intel, american express, ge, cat and bank of america. ty, over to you. >> you know, i thought of chart of the day i thought i would look at a one-month of oil and one of the dollar. one goes one way, the other goes the other way. charts reveal dollar index a little higher. let's look at west texas crude, down 8% in a month. matt, you were going to look at gold. >> yeah. i like gold here. after the retracement that we've had, i would like for one big push the sell side and then i'd be a really interested buyer. we saw it g