Some of things that hes able to do, you cannot, including getting and using information that some some would say is insider information. Is the market free and fair or not . We will explain it and fight it out coming up. My partner ty is out today, so simon is my partner down at the new york stock exchange. Hi, simon. Hi, sue. A lot of peaks and valleys. As you said were down so far. Seema mody is in times square as we start this hour with more on the stocks that quite frankly have taken everyone for a ride. Lets talk about whats been happening with the nasdaq. Even after six days of wins, the nasdaq has only regained about half of the 8 it lost since its march peak. So a lot of the family names we talk a lot about, often thought of as leading indicators have gained the most leading this bounce back. Are these the tea leaves that its back to the good old time for the nasdaq . Not so fast say the trader and investors ive been talking to. In fact theyve been giving me mixed reaction. First of all they point out, look, this is not a surprise were seeing a big rally. After a big drop, a bounceback is on which par for the course. Whats really important is commitment to the rally. Scott tells me, we need to hold on to half of the gains before investors have more confidence if a longerterm rally. Second, yes, we have been on this winning streak here, but its a streak on very light volume, so it may not have the staying power. Timely got to talk about the big topic, earnings, that could definitely bess a swing factor. Apple, facebook really heavyweights. What they report after the bell, what they forecast is going to be huge in whether or not the nasdaq can push higher. Simon . Thanks very much for that. Lets get a market flash, the show with the nasdaq down 0. 35 . Terrific earnings fromingly adwerent enough to keep a closely watch etf from falling. In the red after two of the funds Biggest Holdings reported earnings that missed street expectations. They company, too, as for gilead, it got a boost from strong sales from its hepatitisc drug, which cost 84,000 for a 12week treatment. That comes to 1,000 a day. One of the phi biotechs thats how theyre trading today. Seema, thank you so much. Breaking news from the bond pits. Rick santelli with the fiveyear bond auction. Yesterday only got average demand. What about today . Oh, today, much different scenario. All right. Lets go through the internals, sue. 35 billion in fiveyear notes. The yield any auction was 1. 732. The market was really flopping around, but it looked to me like 172. 5 was trading on the bid side, offered at 172. So no matter where you peg it it trailed a bit. The good news was it was well above the ten auction average the the indirecting were close to the ten auction average, and we had the directs very solid at 18 . Thats the best read since may of last year, so we walk away with a b for boy, much better than yesterdays twoyear. Well have to see how the sevenyear tomorrow which correlates nicely with the duration of mortgages fares. Back to you. Einhorn sounding the alarm. In a letter to his clients yesterday, he said, quote now there is a clear consequence senses that we are witnessing our second tech bubble in 15 years. What is uncertain is how much further that bubble can expand and what might pop it, end quote. Is mr. Einhorn right . How do you play tech right now . Different views from gym euro and jeff kilborkilborn. Bubble is such a strong word. Its not a bubble in my opinion until we see a ton of leverage, and not just at the institutional level. I notice margins are high right now, but until that filters down to momandpop investors, because thats what exacerbates the margin call. Too, i would say we didnt see people hitting the panic sell button. I think calling is a bubble is not correct. Jeff, you somewhat agree with some reservations, why . I do, sue. I think its misleading to say all of tech is in a bubble. Is it a teeny bubble or the big chew bubble . We have to see. I think theres great values coming our way. You know, i think 2014 is a tech story. You need to be in tech, as we go into halftime this year, it could get volatile. I think that data storage and the cloud plays, but thats smoke, down 10 , so i think it will be hesitant, but i think there is some value coming here, but i think its a blanket statement, and he is smart, give him credit, but the fact he said some of these stocks would fall 90 , maybe hes right. Theres been such wild momentum. They do have the possibility to really everything has a possibility to retrace like that, but that doesnt mean its going to happen. I have no problem with them coming back another 5 , 6 , but weve seen bubble twice, and it looks nothing like this. Theres not leverage, not guys in cabs talking to about tech stocks. It feels very different from the first time. Yeah. Not saying anything bad about cab drivers or anything, but go on. When the average guy on the street is talking about nothing but tech, thats what we saw when the tech bubble burst of first time. Thats what we should be looking for. Jim likes apple and ebay, but ahead of apples report, how would i play . Im not going to tell anyone about apple today. I do like apple and am long apple. Independence of todays report, if it traded 533, i would buy more. I probably will wait to see what happens, but if it stays above that level, i may take it. Im also long ebay. You like the cloud space, but ear also watching facebook closely . I am. You know, i took a lot of heat for a long time when i god involved in the ipo. Up here i think its lofty, so i think honestly from the mom and positive investor, look at the xlk, the select spdr for the tech sector. Thats when youll see the alignment, but i think i think you can still buy it here. Thanks so much. Appreciate it. Thank you, sue. Two big reports from Silicon Valley due out in a few hours. Josh lipton is covering apple. Morgan brennan is on facebook. Shares of facebook down 10 in the last two months. Now apple down almost 6 year to date. Facebook is go 2. 6 today, and apple, well look at that stock . Just a second. Josh, you take it first. Well, sue apple stock is stuck in a narrow trading range, but after the tech titan reports, it could make a move lower. Wall street expecting inline quarter result, but its the dwismt3 guidance that could upset investors, theres a worry that china mobile isnt selling as many iphones as expected. China mobile doesnt subsidize i phones, also consumers, especially overseas, they want phones with bigger screens. Apple currently doesnt offer that. Pressure could come from u. S. Phone carries, at t and verizon, theyre allowing theyre customers not as often as they use to. If shares tumble in the afterhour, im told that investors should buy that dip. He says apple will move higher. And boosts its buyback program. Sue, back to you. Lets go to morgan. Shes in l. A. Covering facebook for us. Morgan . Thanks, susan. Street is calling for profit of 24 Cents Per Share on 2. 36 billion in revenue. That would be a doubling in earnings year over year, and a 62 jump in revenues, so about in line with the last quarter. This is one reason shares are still up despite the recent dip. More than 135 over the past 12 months. Nearly all revenues will be coming from advertising, so watch that number closely, especially mobile, which is expected to make up over half of the total. Mobile has a huge growth driver for facebook. Also, daily active users or daus, active users attract advertisers and analysts are expecting that to be over 790 million. Of course, expect info on the 16 million whats app. , and guidance on monetizing instagram, comments on the growing collection of app. Like messenger and paper, and of course any hinds that the long awaited mobile ad network will you developed at the f8 developer conference next week. Sue, back to you. Thank you both very much. Ill send it down to simon. So, sue, lets focus down on this big debate. Is dave iron horrid right . Is tech in a bubble . Lets hear now from john carrie of Pioneer Investments and craig columbus. Gentlemen, welcome to the program. John, let me kick off with you. Hes being more specific than that. Hes talking about what he calls the new cool kids of tech possibly be in a bubble. Correct me if im wrong, i assume the allegations therefore rests at the foot of facebook, twitter, whatsapp and instagram. What do you think . My ears perk up when i hear people are saying things that could create buying i do like tech. I dont want to comment on the specific companies, but theres a lot of investment going into technology. Some of it may be highly speculative, but i think its good for the economy that people are enthusiastic, looking ahead and investing in that kind of way. Okay you seemed to have left all the options on the table there. Craig, can you be more specific about the issues, the individual stocks that you think might be in a bubble . Well, i havent been the biggest bull, as you may know. I think theres a valuation issue with smallcap techs, but many of them trade lie value. I think this is dubious. Many of these companies are more profitable and the nothing that we have a massively overbuilt sector, we dont have that now. So in that regard, its very difficult than 200. I dont like that analogy at all, but i think bigcap tech is where you want to focus. And the question of whether he wet Capital Expenditure back and whether that goes into tech. John another area of the market that has been working so far this year, the utilities, stocks that have bondlike qualities have risen really very strongly. Would you be a buyer here . I would be cautious. I think utilities reits behavior well, because interest rains were benign. I would be a little careful, i think with some of those Interest Rate sensitive stocks. Our view is in fact that rates may be moving up over the next 12 months. Interesting. So youre bearish on utilities. Craig, where are you . I like some of the income proxies. If you look at the end of qe1 and qe2, counter intuitively, but rates on the tenyear fell in both cases. 9 fed has reaped what it sows. So therefore i think you have seen the ten and 30year yields go down. Okay. In the meantime, well, john carey, and craig columbus, thank you both. New home sales not that good today. Diana olick has some of the details. Not good at all. Right on the heels of a poor showing for existing home sales, newby built homes surprise down. These are signed contracts in march, not closings, so folks making that decision down 14 from february, down 13 from a year ago. Im laying it all on price. Weak affordability. You heard me say it last year, as prices soared far faster than job or Income Growth thanks to those cash investors. Not sustainable. Now it comes home to roost. The price hit a record 290,000 in march, builders blame higher costs for land, labor, materials and low supply. Housing starts are way below where they should be. We told you last year some builders actually admitted to holding off on starts in order to gain that pricing power. Simon, back to you. The new uproar against bill ackman. Did his play on Allergan Cross the line . Plus coke cola with my good colleague sara eisen. A big Shareholder Meeting is under way. The ceo is addressing the crowd. And some of the drama in this meeting, after the break. Er the. [ grunting ] im taking off, but, uh, dont worry. Im gonna leave the tv on for you. And if anything happens, dont forget about the new xfinity my account app. You can troubleshoot technical issues here. If you make an appointment, you can check out the status here. You can pay the bill, too. But dont worry about that right now. Okay. How do i look . Thanks. [ male announcer ] troubleshoot, manage appointments, and bill pay from your phone. Introducing the xfinity my account app. Welcome back to power lunch. Im seema mody. Check out the defense sector, having a nice day, all a boost from strong earnings from the likes of General Dynamics and northrop grumman. Simon, over to you. Thank you, seema. Cocacolas ceo is speaking today. Shares for the session flat, but theyve had a tough year so far, down the best part of 5 . In the last two months, the stock is up almost 10 , however, sarah eisen is monitoring the meeting. Its an unusually suspensionful meeting because of the debate on executive pay. First the ceo has addressed coke coal talking about the tremendous size and scope of the business. Some of his priorities like growing sparkling beverages, investing in the brands, but then the shareholders will get a chance to vote. This is the suspenseful part. It comes down to cokes equity plan, which includes plans to issue shares for management compensation. One coke shareholder, David Winters of wintergreen has raised a very Public Campaign in the last few weeks in letters to shareholders, the board and Warren Buffett, to vote against this equity plan. Winter said its a raw deal for investors, dilutes the values of their shares. Coke has been very vocal as well, disputing winters math say its more like 1 and completely in line with cokes history. So the managers only get paid if investors get rewarded. Winters only owns about less than 1 of the stock. The question will be will the other big shareholders side with him and vote against this plan . Warren buffett, of course, the biggest shareholders of cocacola. No word from him leading up to this meeting on the coke equity plan. Well expect the preliminary results around 2 00 p. M. In the hour of street signs and then talking to Warren Buffett. Theres a lot more to come on cokehead lines, but to keep it all in perspective, the backdrop to consider here, look at coke shares versus the s p in the last five years, muhtar was paid about down about 33 from 30 million in 2012. The stock has underpreismd, up less than 100, s p 500 up about 120 . Even factoring in the dividends, simon, coke has underperformed, so something to this think about. On a headline level 30rks . Sarah, thank you. Just to reinforce the point. Warren buffett will be on with becky quick, a lot to talk about hopefully we can talk too about the underperformance of coke. Berkshire hathaway is the Top Mutual Fund owner. Here are some of the others. Sue . Its going to be an interesting conversation. Were going to talk about bill ackmans latest move on allergan. Its sure to make him a lot of money. But a lot of investors are screaming insider trading. See why so many say ackmans move is neither free nor fair. Thats ahead. Plus the power pitch. Coming up, power pitch pumps up the volume. Welcome to power it will make anybody sound like a rock star. But will the panelists think its a smash hit . Why dont you jump up and show us what this can do. Dance so she could take her dream to the next level. So we talked about her options. Her valuable assets were staying. And selling her car wouldnt fly. We helped sydney manage her debt and prioritize her goals, so she could really turn up the volume on her dreams today. And tomorrow. So lets see what we can do about that. Remodel. Motorcycle. [ female announcer ] some questions take more than a bank. They take a banker. Make a my financial priorities appointment today. Because when people talk, great things happen. [ dog barks ] [ male announcer ] imagine the cars we drive. Being able to see so clearly. To respond so intelligently and so quickly, they can help protect us from a world of unseen danger. Its the stuff of science fiction. Minus the fiction. And it is mercedesbenz. Today. See your authorized dealer for exceptional offers through mercedesbenz financial services. Welcome back to power lunch. Check out spectrum pharmaceuticals, the stock moving higher after it said it expected to see approval for the blood cancer drug in the third quarter. Its treatment was shown to be safe and effective in a key mid states trial. It does have a market cap of 468 million, the stock trading three times the normal volume, currently up about 6. 8 . Sue . Thank you so much, seema. Its time for the power pitch where entrepreneurs get 60 seconds to make their pitch, and our panel of experts decide. You dont need liquid courage. If you cant sing, then this is for you. Its the next guitar hero for singers. My name is eric. Oh, hi and may name is john. And together we are cocreators of the company singtrix. Singtrix is the next generation karaoke machine that makes everyone instantly sound like their favorite rock stars, no experience necessary. Our studio is powered by the most advanced live vocal effects, including studio quality pitch correction, and jawdropping live vocal harmonies that transform a single voice into a choir or vocal super group. It works with any device in any music from around the world. We also offer up subscriptionbased karaoke app. With more than 13,000 songs with scrolling lyrics. Singtrix is poised to take over the world stage as the ultimate Living Room Party experience. Mark my words. Im mandy drury. On the right screen you see john and eric. They are the cofounders. They can hear us, but cant react just yet. We have scott keenie, who is known as dj ski, in addition to headlining tours, hes produced artist from snoop dogg to michael jackson, and named on the list of influential under 30. And guys, great to have you with us. Lets huddle up. Ryan, what do you think about this . Karaoke, isnt part of the fun being bad at it . If you look at it and say, hey, if everybody was really good, are you going into karaoke competitions . On when youre out at night, are you able to laugh at somebody . I can see where it works for some, but for others it might be up in the air. What about you, dj . My concern is the cost. Its 300 for the onetime package. I dont see the Consumer Base being that into karaoke, where you shell off the cot of a video game id like to know how theyre doing, so a few questions from me as well. Come and sit down. This is the hot seat for you. Ski, why dont you ask the first question. It seems to be the coolest karaoke product, i love the barry white voice and would love to do it right now, but how big is the market . In the u. S. Its not that big, but like guitar hero, the market its when you give people new technology, it gets people singing who have never sang before. Do you have a retail partner, and what are you doing for branding . Singtrix is for sale. Weve done over dollar 1 million of business since we launched in november. These zero advertising. Peer who is buying . Is it like a retail guy . Like us . Or a professional karaoke bar . Its an average people. How easy is this to set up, put together we shot a lot of video. We have setup videos. How do you unbox this thing . How do you plug it . Would you like to jump in with a question . I saw some users have banner ads in the app. , they shouldnt get those when theyre paying 300 for the product and a Monthly Subscription fee. If you dont pay for a subscription, you will get ads, if you do pay that might have been someone not understanding the temperatures of service. What percentage of people do you think out there are doing the Subscription Service versus the free service. Very high, actually, in the 30 to 40 range. We need to know bl you are in or how out. I almost wish this was lit up into something that might be bigger, you could market toward the bars and places that may spend more, and put together a consumer version that was much cheaper that identified just for the iphone or app. If you could do that, i might be in. But because of just the high cost, i dont know how big the market is. Again its the cost of a video game system. For those systems, i would have to say as much as i want music products to success, i am out. What about you, ryan . I think sometimes you have to bet on the jockey and not the horse. I think these guys have a terrific background. I think as Technology Gets there, this will continue to improve, this could be phase one, phase two. You cant go wrong with the jersey boys. I would say im in. If they can get their strategy right, go global, get into the asian market, iron a tentative in. So guys, you have one out, one in, what do you think . You could take any song off your itunes, plug it in, hit a butting to strip back the lead vocal, but it will work with any music, any language, any style, any type. And a whole lot of fun. Bottom line. We wish you the best of luck. Thank you so much for john and eric, and to our panelists ski and reian. That is todays power pitch. My son daniel would be all over that. Well, you heard what the panel had to say, but now we want to hear from you. Are you in or out on the karaoke startup singtrix, logon to powerpitch. Cnbc. Com, or log on with the powerpitch. Gold bullion has broken its losing streak. House been figures may have helped. Im not really sure. Thats where we stand on metals at the moment. Lets get down to Rick Santelli at the cme. You know, simon, it wasnt a bad auction. Remember the five year is the sticky part of the curve. Under the most selling pressure, keeping yields slightly higher. Look at an intraday of fives. You can see after 1 00 eastern, not bad. Yields coming up a bit. Lets go to the other end of the curve, to the 30s, which have been the most you can see there was a little pop there as well, but all maturities are down on the day. How is it correlating with the risk on risk off. Heres an intraday dollar yen, still correlating well with u. S. Interest rates. Thank you, rick. So ahead of bill ackmans proposal, its not clear that he was busy building his own stake in the botox maker, or more accurately his funds stake in the botox maker. So how did he do it . Dominic chu is here to break down what is a fascinating sequence to events, dom. A great story. A fund partnerses with a pharmaceutical giant. Now, the unlikely pairing kicked off in february of this year, ackman and valeants kreismt on the Michael Pearson struck a pact. Now, the buying of that stock started on february 25th. What youre seeing here is a chart of the stock price behind me. It started off with 174,000 shares that they bought, another 422,000 shares just the next day. It worked out to be around 76 million in terms of allergan shares in the two days. The team switches up the strategy and call options among other things. Remember, now, call options are simply contracts that allow you the right but not obligation to buy those shares at a certain price in the future. Now, by april 10th here, the duo built up a stake in allergan. The next day they controlled over 5 , and this is important, because it meant that ackman had to tell regulators that he had a stake in this company within ten days. But ackman and the team didnt stop there. They kept buys thor call options, added another 4. 7 stake by april 21st, the stock price climbs. For you numbers fans, thats a 9. 7 stake in allergan worth nearly 4 billion, so a very big deal. Thats the way they got into it, sue, so a fascinating story about a Public Company and hedge fund teaming together. It really is. Some say it will set the stage for the way deals are done in the future. Thanks, dom. Mr. Ackmans latest move could make him a lot of money, but a lot of investors are screaming insider trading. Why did they do it this way . Kate kelly is there to talk with us about it. Despite his penchant for publicity, bill ackman knows how to navigate quietly. He did it through the overthecounter options market, giving him the economic equivalent of the 10 long position that dom was talking about without the reporting requirements of buying actual stock far in advance. Doing that could well have triggered the need for Regulatory Filings that would have alerted allergan of ackmans plans and no doubt raise the stock price along the way as public investors became more aware, but still trying to build that important 9. 7 stake. Critics are crying foul, sake ackman clearly had inside knowledge of the takeover plans and that, by teaming up with the takeover company itself, he was able to effectively create his own destiny here, since this is an attractive deal that stands a pretty good chance of getting done. The stocks are popping in the interim. A regular joe investor would never have had perhaps the strategic playbooed that would have been needed to pull off such a move. This is another example of an unfair playing field, but technically its quite legal. He forged a with the express purpose of help him and you cant preclue company a from taking over xooismt b, and ackman says hes basically an extension of company a. Give that he put in more than 3. 5 billion as compared to valeants 76 million. Indicate, stay with us to talk about this. Well talk about the move and is it free and fair . Michelle carusocabrera joins us as well as eamon javers. In the past youve made the point you dont there should be anything i dont even have to make that point right now. Hes trying to buy a company. In order to buy a company, you have to buy the shares, beginning and end of story. If you think, my gosh, the stock is going up the minute everybody knows, if you use that logic, carl icahn and Warren Buffett could never be involved. Thats not fair . Thats the way it is. If youre going to buy a company, you have to buy the stock. Look, sue, what weve got here is a classic case of how rich and powerful people use their money and power to become more wealthy and powerful. What ackman did also involves a washington connection, which is rob qassami. Hes been working on some of the lawyer work here to make sure it states on the right side of rules. A lot of people may by from us traded, but the players in the game have to play by the rules as they are. Ackman is making the case he didnt get any information from anybody who had a fiduciary obligation to keep that information secret, therefore its not insider trading. I spent yesterday at the presentation that they made together. Fourhour presentation with q a about the structure of this deal, and there were a lot of questions from investors in valeant about how long bill ackman would be willing to stay a shareholder and what happened in the allergan deal didnt come occupy. If a competing or better offer came in and ackman decided he want to do go in a different direction. He says hi understand why this is a critical questions. The investors want to think hes not a short termer, that his interesting are aligned with valeant, he doesnt technically have the fiduciary responsibility that management does, but in essence, he wants the same positive outcome, and hes willing to do it. Is the deal likely to get done . Yes, but it is not guaranteed. His money is at risk if the deal fails, and that is possible. Hell lose all the legal fees hes invested in this, which is a lot, and those shares will fall again. Eamon, weigh in on any contributions that mr. Listen, ackman is a very politically savvy guy. One of the things thats hit headlines in recent weeks is the fact that ackman has contributed money to the new York Attorney general snyderman over the past several years, going back a ways to 2010, 2012, about 30,000 in total. That spreading of goodwill can help when it comes time to get down to the nittygritty. I should say, of course, that ackmans side and snydermans side say theres no quid pro quo. And he would not be the only Hedge Fund Managers that makes political contributions. And this would not be the only political figure to take it. But snyderman is very famous for putting out a press release about somebody hes going to try to prosecute, right . Hes always sniffing around for something. In this particular case, it will be interesting to see if he tries to get involved. Weigh in on that, kate. Bill ackman, one thing he is never shored on is preparedness and research. Eamon mentioned rob i noticed him for four hours yesterday, there was no question that stumped him. He obviously has heavily researched the legal aspects, the Market Structure that needs to be set up in order for him to profit, valeant hopefully to profit. Public shareholders so far should probably by happy, right . As is valeants lets not forget this is a vote of confidence in valeant. Could an average investor pull off Something Like this . Would they have the strategic background . No way. Thats a fairness question, but legally as well as a shareholders in either company, you can see its a lesson question as well, right . When you have dry powder and capital, you get more opportunities. We see it over and over again. I would have loved the deal that Goldman Sachs gave to Warren Buffett during the crisis, but guess what . I dont have the money. Warren buffett has the money. If you have the money, things will be brought to you that are very interesting that other people dont get. Good investors are rewarded for that. They should not be punished for that. Its probably worth noting that Pershing Square has taking a beating because of the herbalife position, but nonetheless theyre performing well. In the hedge fund community, people are jealous because absolutely theyre jealous. Jealous . And have that leg up in order to participate in the takeover and increase their chances of getting it done . Thats a pretty powerful hand. And he did it in a very different way. Ive got to go. Eamon, hold that thought. I know youre on later today. Simon, down to you. In the meantime spring is in the air. We have a new development in luxury travel. One hotel brand is getting into the private jet business. Who is offering the service and for how much . Well stay tuned to power lunch. Lunch. Cars are driven by people. Theyre why we innovate. Theyre who we protect. Theyre why we make life less complicated. Its about people. We are volvo of sweden. So, whatd you think of the house . Did you see the School Rating . Oh, youre right. Hey, babe, i got to go. Bye, daddy. Have a good day at school, okay . [ man ] but what about when my parents visit . Okay. Just love this one. Its next to a park. [ man ] i love it. I love it, too. Heres your new house. Daddy [ male announcer ] youre not just looking for a house. Youre looking for a place for your life to happen. Zillow. Youre looking for a place for your life to happen. Whoyour boss . Rk for . Yourself . Your parents . Your family . At baird, what matters most to you. Matters most to us. As an Employee Owned firm, our Financial Advisors have the freedom and resources to realize a plan to fit your familys unique needs. Well listen. Well talk. Well plan. Baird. Welcome back. A tough day for netflix. Hbo has agreed to license older episodes of the library for amazon. The deal represents the first time hbo has struck a pact with an online video provider. Errier this week netflix said it would raise prices for new members. Seema, thank you very much. The four seasons is getting into the private jet business. Robert frank joins us with the story. It is a pretty story. This is the latest weapon in the lux injury travel wars. The first four season private jet, a converted 759 that will hold just 52 people instead of the unfortunate 200 or more. It has the four season logo, and service on the inside. Now, the plane will carry passengers on four season private jet tours, tours of exotic locales around the world where guests spend weeks eating the best food staying at top resorts, having expert guides, and wildlife, and private jet tours have become one of the fastestgrowing segments, Companies Like abercrombie and kent, National Geographic and others are selling thinks things out. Now, right now they all use charter planes, so torontobased four seasons hopes to gainage edge in the business by offering better experiences with its own plane. We have or dedicated consequence years of age. The meals have been sourced by four seasons chefs. All of the staff including the aviation staff have gone through four seasons university, so that they understand the expectations of our guests. You want to take a private jet tour, you can charter the jet, a tenday trip will cost you about 2 million. You have to stay at a four seasons resort if you charter the plane, and for 2 milan free wifi in the room. And a key to the bar. Chartering an outside yet would not give you the control over the quote unquote experience. Youre absolutely right. They want the four seasons Level Service and amenities from start to finish. By chartering a plane, you never know quite what you get. And you get the mini fridge key. Weve been talking about David Einhorn warning were in a second tech bubble. Were going to break down the stock movers today, plus a look at the tech high flyers, valuationses. All of that still ahead on a very busy power lunch. Stamps. Com is the best. I dont have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps. Com you can print real u. S. Postage for all your letters and packages. I have exactly the amount of postage i need, the instant i need it. Can you print only stamps . No. First class. Priority mail. Certified. International. And the mail man picks it up. I dont leave the shop anymore. [ male announcer ] get a 4 week trial plus 100 in extras including postage and a digital scale. Go to stamps. Com tv and never go to the post office again. But with so much health care noise, i didnt always watch out for myself. With unitedhealthcare, i get personalized information and rewards for addressing my health risks. But shes still gonna give me a heart attack. Thats health in numbers. Unitedhealthcare. Improving everything from booking to baggage claim. Were raising the bar on flying and tomorrow well raise it yet again. No news why, it may just be profit taking. The stock was up nearly 10 over the past week before todays losses gravity taking hold of tesla today. Simon, over to you. Were beginning toss the nasdaq fall further. Taking a breather after six days of being in the green. It wasnt enough to offset amgen having the drawn. Overall the index is down is . Were see weak theres there. Apple and facebook you lower ahead of the base edges. So certainly a bud i big loser in todays trade. Thank you so much. Shella. Appreciate it very much. Lets look at where we are. Were going to talk techs like its 1999 with dominic, right . Heres what we have done. Weve compared some valuations. Is it tech bubble . Maybe, maybe not. You know, these days you look at some of the valuations that were happening, but take a look at some of these valuationses back in 1999, 2000. Three companies that are, by the way, still around today. On a multiple basis, check this out in terms of bubble issues. Hold it, were going to go to a break and do that that was a tales, ladies and gentlemen. Were back in a second. K in a s. The conditions in new york state are great for business. New york is ranked 2 in the nation for new private sector job creation. And now its even better because theyve introduced startup new york dozens of taxfree zones where businesses pay no taxes for ten years. Youll get a warm welcome in the new new york. See if your business qualifies at startupny. Com put it on my capital one i earn unlimited double miles. Hey, youre not the Charles Barkley . Yes i am. Nah Charles Barkley is way taller. Theres my picture on the wall. Yeah that could be anyone. What about my jersey over there . Oh yeah, thats your jersey. Theres my bobble head right behind you. Alright well let me see you bobble. Yeah, im just not buying it man. Earn unlimited double miles with no blackout dates from the capital one venture card. My brother john, he works here. John, you know this guy . Whats in your wallet . Were going to take a look at some of high flying tech stocks, valuations from back then 19992000, and put it in perspective. We wanted to find names that were back then, and these are, qualcomm, juniper, were all around the tech boom, and are still around today. We wanted to look at the value indications then, back then qualcomm, internet Capital Group, juniper networks, this is staggering. To put it in perspective. Qualcomm was a 580 times multiple stocks. Internet Capital Group had a 2300 times earnings valuation, and juniper networks, which is still around, they do fiber, cables, all these equipment stocks, 38,000 times earnings. To give you perspective, its impossible to go apples to apple. Its not the same market, but this is what bubble issues look li like. Some of the big momentum names today. Reguinneren is in there, but weve been talking about it, facebook as well as amazons, because dao regeneron, facebook at 104 sometimes earnings, and amazon at 550 times, so maybe a little bubblicious, but not the 38,000 times earnings. Remember, there was a time when ge was a 500 some Million Dollar company. You have to rub it in. Microsoft 600 billion. Ge used to own us and we all had stock options. We were rich, at least on paper. Thanks very much, dom. Stock slips a bit. Then theyre down a bit more. We have big winners. First, lets see whats up on street signs hi, brian. Thanks very much. Get this, Warren Buffett is going to be first on cnbc during this hour, becky quick is sitting down with warren. Hes just finishing up the annual Charity Lunch in new york city. Hes going to join us to talk about the lunch, maybe what they talked about, and hopefully more investing ideas for the oracle of omaha, plus whether ceos are overpaid, and maybe a new scandal brewing at the i. R. S. All of that, street signs at the top of the hour. Power lunch returns after this. Well see you then. [ banker ] sydney needed some Financial Guidance so she could take her dream to the next level. So we talked about her options. Her valuable assets were staying. And selling her car wouldnt fly. We helped sydney manage her debt and prioritize her goals, so she could really turn up the volume on her dreams today. And tomorrow. So lets see what we can do about that. Remodel. Motorcycle. [ female announcer ] some questions take more than a bank. They take a banker. Make a my financial priorities appointment today. Because when people talk, great things happen. E make a my financial priorities appointment today. Financial noise financial noise financial noise financial noise carstheyre why we innovate. Theyre who we protect. Theyre why we make life less complicated. Its about people. We are volvo of sweden. Welcome back, mattel, the toy Company Along with sony with a plan to bring barby to life on screen, this as it trying to leverage products on the big screen and halt the swoon selfbarbie sales. Lets check on some of the stocks that have been real winners. Thats it for power lunch. Street signs begins right now. Warren buffett, a fight over cocacola, yet another i. R. S. Outrage. How is that for an hour . Hi, everybody. A huge hour ahead. We are expecting to hear from Warren Buffett, and get some advice you cannot afford to miss. Plus why old retail is suddenly redhot again. And what just happened at the i. R. S. Should make every taxpayer