Transcripts For CNBC Power Lunch 20141110

Target of enrollees by 2017 will now take a little bit longer, perhaps years longer than was earlier projected. A stumble here in terms of obamacare enrollment. Thank you very much. Lets begin with alibaba. Lets take a look at the share prices and how it is fairing right now. Alibaba has been very actively traded and has had an intens rally. The e commerce giant up 70 since the listing back in september. The Company Getting ready for one of the biggest days of the year called singles day in china. Why is that so important . It is the Biggest Online shopping day in the world. Analysts expect alibaba to smash sales record on this shopping day and tomorrows holiday was created by the chinese to celebrate or lament being single but it has turned into a 24hour Online Shopping event. Last year alone alibaba took in nearly 6 billion in transactions just in that one day and that blows away the nearly 2 billion sold on cyber monday. David faber is in headquarters. Sales are piling up here in an auditorium on the campus of alibaba as the Company Continues to let people watch all the money being spend. This started five or six years ago back in 2009 as a holiday almost created by alibaba to tell single people to go out and buy yourself a gift. If you do on this day 11 11 we will do it cheaply because merchants will sell it cheaply. 27,000 are offering significant discounts, so much so that people stop buying preceding the holiday and then buy an awful lot. 1. 1 billion in counting in gross merchandise value. Expectations this year is that it will exceed 8 billion. Alibaba trying to bring the holiday outside of china to many other market places of which it has ambitions to grow significantly. All of this following the ipo a few weeks back. Bringing in a market value that exceeds walmart. Many people following this quite closely to see if it is a reflection of the strength of this company which dominates online sales in china. Sue, back to you. Thank you very much. And dont miss david fabers exclusive interview with alibabas executive chairman jack ma live from china tomorrow at 10 00 a. M. Eastern time. Breaking news in the bond market. We have a three year note option today. Rick santelli is tracking the action. It didnt look bad. Veterans day tomorrow rake breaks it all up. We come back wednesday for tens and thursday for 30s. The yield is 0. 998. The bid side was 1 . Priced right in between the bid and offer but received a c minus for the following reasons. The bid to cover 3. 18 is a little bit light on the 3. 31 average of how much every dollar worth of securities is available. We did a little better on incorrects at 37. 7. A little worse on directs at 15. 2. Dealers take a little over 37 . Thank you so much. A good day for staubocks. The rally continuing with the dow and s p 500 both hitting new highs. The fourth up day for the s p 500. Lets go to dominic chu for a quick market flash as we look at those numbers. Translator what we are watching right now is Norfolk Southern shares. The rail operator moving higher after upgraded from overweight rating from prior equal rate and slapped a price target on the stock. Shares are about 2. 5 to the upside. As a result the Ripple Effect is other rail operators are up, as well. You think about union pacific, csx, majors in the business are all up on the Morgan Stanley upgrade. Will it be a joyful bonus season on wall street this year . As we look to close the books on another year wall street firms looking to open wallets for what will be a mixed round of bonus for workers. According to a report from johnson and Associates Investment bankers and private equity. It has been a good deal for deal making. U. S. Investment banking revenue exceeded. Traders in fixed income and equity seen taken biggest cuts marking third disappointing year. Forecast in 10 to 15 decline for these whose has been hindered. For the second year in a row Asset Managers seen getting a range between 5 and 10 . The perception starting to form that this section of wall street may be the best place to make money. Up to 5 and hedge funds could have a down year down 10 according to johnson and associates. Still keep in mind the people are doing well. Johnson and associates says on average all included in the survey make at least half a Million Dollars a year. Back to you. New developments in that gm recall situation. A report says the auto maker ordered thousands of replacement ignition switches just before it announced its huge recall. Phil lebeau is covering the story for us from chicago. All of this stems from emails we have seen ourselves so we can confirm that the emails are out there. The emails date back to last december. At that time executives met and discussed what was going on and this email went out to the supplier, i would need to start seeing shipments asap, shipments of new switches we should point out. Please put together an aggressive plan and i can adjust the schedule accordingly. It is important to keep in mind that on the 17th executives from General Motors met and discussed the ignition switches and sent this email on the 19th but didnt issue a recall until february 7. People are saying what happened between mid december and february 7. Gm issued a statement saying these emails are further confirmation that our system needed reform and we have done so. Speaking of the gm ignition switches remember the compensation in place where they are reviewing claims. So far 32 death claims have been approved. 35 injury claims have been approved. There are still another 1,851 claims that are being reviewed by ken fineburg and his team. Shares of General Motors this year have struggled to move very high at times like much of the auto sector it has been struggling for most of this year. We should point out the doj is investigating General Motors. There is a possibility that these emails could be at the heart of any investigation if and when things are finally resolved there. Understandably so. Thank you very much. Port problems, the nations largest container hub seeing major slow down weeks before the Holiday Shopping season. Reporter hi, sue. Businesses and manufacturers are so concerned about the congestion at west coast ports like this one that a coalition has asked president obama to step in and appoint a federal mediator. Its the latest development after Port Management accused the shoremans unien of an intentional slow down after talks stalled following contract negotiations this summer. We really thought that an agreement would be done by now and it is greatly disappointing to shippers and manufacturers that an agreement has not yet been concluded. Reporter the possibility of a shutdown here has businesses on edge. A tenday lockout in 02 cost the economy a billion dollars a day according to retail and manufacturing coalition. The union says it is aware of the high stakes. I dont think anybody is anxious to do that again. It caused a lot of chaos and a lot of problems. And for the employers to close the ports again would be a big mistake. I dont see that hap happening. Reporter federal mediaters tell cnbc they are monitoring the situation on the coast. Tyler . Thank you very much. Reporting from west coast. Bio tech firm filing for chapter 11 bankruptcy today. The main catalyst, the worlds first attempt at a cancer vaccine fell short of expectations and shares have fallen 90 in a year. They now sit at just 24 cents. Hepatitis b is the worlds most common Liver Disease. 350 Million People have it. Arrow head pharma is now on the front line fighting it. Its shares are up big today, almost 6 . Last month the stock tumbled as the companys key drug disappoint disappointed. The stock is volatile. Meg terrell is live in boston at a major Liver Disease conference with the ceo. Thank you so much. Joining me now is ceo of arrowhead. Lets start with the tumble your stock took. Were you surprised by the reaction from investors . Do you think they overreacted . So let me take a step back first and talk about what we are up against here. Hepatitis b is we think the next great liver concern. We are soon to be living in a post hepatitis c world. Hepatitis b we think is the next challenge to confront. There is no cure. So it is our goal to find a functional cure for hepatitis b. To do that we figure we needed to decrease a protein soled surface antigen. The hepatitis b virus once it infects a liver cell it makes that cell produce high quantities of this s antigen and that immuno suppresses the host. Our goal to find a way to turn off that gene. And so we went into models and shown we c do it and wen into humans and found we can do it. It was very good news for us. We have shown we can decrease that protein substantially and can do it in a safeway. So we are excited about that. We were a bit compromisurprised market reacted the way it did. This is an ongoing dose escalation study and we show data from the first two doses. We are doing two things. We are increasing dose. Second, we will be giving this in a multi dose regimen. We always thought this would be a multi dose therapy. We have seen in animal models that as you dose you get a step down effect. We believe we will see that in humans. We feel great about the drug. We are looking forward to our phase 2 b study that will be filed for by the end of the year and will start dosing as soon as regulators let us. I think we will start to see whether or not this gives us functional cures. Last month you wrote a letter to shareholders saying you were surprised by the reaction and maybe there was a misunderstanding of the data. As you are talking to folks here at the meeting do you think you are gaining confidence back . I think we are getting there. The doctors we speak with, when they hear about our data they are excited about it. We are showing reductions in s antigen. We think it is really important news. And then when we look at the level of reduction we need the answer is we dont know how much that is. We think we have plenty of fire power to really knock this thing do and have a good shot of getting to functional cures. I think that the market is starting to understand more that over time we need to get we think to about 90 reduction. We dont have to do it in one shot but overtime. We think we will get there. We appreciate your time. Thank you so much. Thank you so much. President obama making his strongest comments yet on what he calls a free and open internet. He is calling on the fcc to set strong rules to protect socalled net neutrality. He says internet providers should not be allowed to cut deals with Online Services like netflix or youtube to move their content faster than anybody elses. The cable Industry Trade group says it is stunned the president would abandon the long standing bipartisan policy of lightly regulating the internet. Take a look at major stocks and you see them there including parent of cnbc, comcast. Pfizer getting a nice bump to the upside. Jeffreys citing positive data on a number of pipeline drugs. Go pro shares tumbling planning to sell up to 800 million in stock. And samestore sales at mcdonalds falling but that fall was a little smaller than the street was expecting. Let it snow, not. Dont want it. But much of the country is already getting slammed with wicked Winter Weather with more on the way. We are tracking a big storm that is making its way across the country. Plus, the battle between. Last year dan lobe called it a Master Police in need of restoration but the fight with the auction house was more expensive than most masterpieces. We will take a look at who won, who lost and what was the cost. So i can reach ally bank 24 7, but there are no branches . 24 7 its just im a little reluctant to try new things. Whats wrong with trying new things . Feel that in your muscles . Yeah. I do. Try a new way to bank, where no branches equals great rates. This guy could take down your entire company. H . Stay with me. On thursday a hamster video goes online. On friday it goes viral a network choking phenomenon. Why do you care . Hes on the same cloud as your business. The more hits he gets, the slower your business may get. Do you want to share your cloud with a hamster . Today theres a new way to work. And its made with ibm. Welcome back to power lunch. A group of about 200 wounded u. S. Military veterans and families filed suit in a new york Court Alleging that five european banks conspired with the country of the government of iran to funnel about 100 million to finance attacks against u. S. Service members in iraq. They named the banks in the lawsuit. Banks include barclays, Standard Chartered and world bank of scotland. They allege that was transferred by inian banks into iraqi militants and then financed attacks on those troops that wounded them. To dominic chu for a quick market flash. We are watching shares of dean foods soaring after the food company Beat Estimates on earnings. While it still lost three cents a sale sales grew. Dean foods up by about 13 on todays trade. The Winter Weather has already begun for some parts of the u. S. South dakota, minnesota, northern wisconsin, michigan all getting the seasons first significant snowfall and that snowy weather is expected to head south. Here is the weather channels tom nizal. Winter is coming in with a vengeance. Lets look at snowfall from the rockies to great lakes. As much as 18 inches of snow. Snow is the first part of the issues. As we get into the week look at the polar invasion take place. These are the temperatures running as much as 25 degrees below normal. As we get into tomorrow the cold air working way down into texas. By wednesday look at the temperatures only 9 degrees for a high in billings. Temperatures running 35 to near 40 degrees below normal for th me of the year. We do a pick city and take a look at what its temperatures will be. Minneapolis after a 30 and 24 high and low today with snow by the end of the week we see overnight low temperatures below 0. The cold air and arctic conditions stay with the u. S. Tom, thank you. Shares of sothebys jumping. There is a big piece of news within the report that investors need to know about. Our wealth editor robert frank here with the details. The earnings were pretty good and should be given we are in one of the strongest art markets in history. During the Conference Call this morning the company said it is taking a charge of 20. 1 million to pay fees associated with activist campaign. That 20 million is about half of sothebys entire net income. Dan loeb won the battle getting three board seats and 10 million goes to loeb to reimburse him. Sothebys paying dan loeb the cost for waging war. The price down almost 10 when it was first disclosed that loeb had taken the stake and down from may. Sothebys could make some of it back tomorrow night. They hold one of the big contemporary sales. Among lead lots this painting could go for 20 million. Do not adjust your screen. It is an all white painting. Next to that painting it looks like kind of a bargain. That is a spectacular piece of work. There is news on one of the largest divorce settlements including harold hamm of continental resources. A question of how much his wife would get, could be up to half. A judge ruling just now that it is 995 million that will go to his wife. That is clearly among the most, if not the most expensive divorce settlements in history. The judge said he would have to give 322 million by the end of 2014 to her. That is a lot of cash that he will have to raise very quickly not surprised if that share comes under a little pressure today. He may have to sell some shares to meet that. That is close to 1 billion that he will need to raise. Thats a lot of ham right there. Robert frank, thank you very much. First it was taylor swift and now garth brooks, how he is taking on itunes and spotify and how he could turn the entire Online Music Business on its head. Crime and punishment, andrea day is on the case. He swindled millions from investors in three different schemes. Coming up on power lunch the mistake that finally landed him behind bars for decades. The cnbc Trend Tracker live data board is brought to you by the cme group. Take on the challenge of Trading Options and futures. With the easytouse suite of trading tools. At optionsxpress by charles schwab. And well give you a one hundred fifty dollar amazon. Com gift card when you open an account. If youre looking for a trade idea, start at the idea hub. Where options and futures opportunities are organized by volatility, earnings, market activity and income strategies. Then run your new idea through the trade and probability calculator to get a quick look at the possible upside and downside. Streaming charts give you the realtime quotes and customized views of the market that can help you make your final decision. And when youre ready to make it happen, walk limit helps you save time by searching for the most favorable price. Find new ideas, analyze and execute your trades with just a few simple clicks, with optionsxpress. For a one hundred fifty dollar amazon. Com gift card when you open an account, call 18889805745 today. Optionsxpress by charles schwab. Gold all in the red today as we watch the volatile trade with gold prices, these companies that are leveraging gold are the ones that take bigger hits. It is an Investment Scheme that shocked investigators. More than 250 investors swindled out of millions. Our andrea day has the story. Reporter investigators call him the ultimate con man, a former stock broker out of jail. Instead of coming out and following the law they say he went right back to lying, chting and stealing. You have destroyed us. You are a liar and you will someday pay for your deceitfulness. You are listening to messages left by an investor furious with this man. I see youre in hiding. Reporter hiding behind an alleged multimillion dollar Investment Scheme. He stole all of this money. That was the goal. That was his aim from the beginning. Reporter according to u. S. Attorney Loretta Lynch the con was executed and perfectly bogus. The company was frankly a work of art. It was an example of what anyone can do with the internet, some stock images and a really good printer. Reporter the company, its fancy brochure and team of seemingly qualified professionals all a fabrication lynch says conjured up by this man. Overall lie was if he was a legitimate businessman who can invest money in something guaranteed. Reporter the company he claimed funded lawsuits for people. He was essentially going on to an industry that es exist. If you looked it up or googled it you wouldnt see this company but would see the industry and certainly would see that people didnt invest in the lawsuits. Reporter if you invested he said your returns would be a percentage of the successful settlements and guaranteed big returns. He mixed a little bit of the truth with a lot of the lie. Did he invest any of this money . He stole all all of this money. Reporter syingers say it was nothing more than a cold calling scheme run from his home using this allious. A great, great opportunity, wherever i can make you some money i want to do it. Reporter once investors handed over cash investigators say it would be deposited into a bank account. The money withdrawn to purchase gold coins online. The coins shipped to this location where investigators believe associates picked them up to sell on the streets making the funds almost impossible to track. He is really a serial con man. Reporter the con one of three separate Investment Schemes adding up to a more than 15 million fraud. He had essentially scammed almost 200 people. Reporter the con going on for almost two years. According to investigators he used the same list of investors who lost money in one scheme to cold call in another money making scam. One investor recognized the voice. Where are you going to make 50 to 60 . And said this is the same person who scammed me out of 280,000 with this other scheme. They called law enforcement. He wasnt alone. The case still active for new yorks homeland security. Special agent in charge. We are still in the process of trying to identify one fugitive as part of this investigation, someone who had a leading role in the conspiracy. Hayes says he helped move the cash fed exing packages stuffed with thousands of dollars. He was sentenced to 24 years behind bars. He is a person who cares about no one but himself. There was not an ounce of compassion or empathy in his actions. Four others were indicted in the scheme including rap aport who is still on the run. He is now appealing the case. Back to you. And the u. S. Attorney of the Eastern District of new york, Loretta Lynch, who played a prominent role in that story, that story was taped earlier. She was then named by president obama on saturday to be the new attorney general. Lets check out the bond market. We have the threeyear note option. It did okay. Lets see how the market is performing at this point. It was basically a little less than c minus. What is fascinating is how all of the charts look the same and the reason why is fridays important labor release. If you look at a two day of threes we just had the three option. They are all up today on yields. Look where they were before the number at 8 30 eastern friday. Same could be said for tens, exactly the same for ten year bunds and the dollar index. We want to continue to monitor how the report is effecting the market place but it seems like we are back in ranges that were well warned before fridays numbers. Do your parents know what you do for a living . Do your kids know what you do for a living . A lot of the time especially in the new world of technology and speed, speed, speed the answer is no. We will take you inside a fun unique event in new york city designed to clear the air and solve a lot of that confusion straight ahead on power lunch. Today could be the day. The day we give you hope. Relief. A cure. Today, we believe every life deserves worldclass care. As one of the top four hospitals in the nation, over 100,000 people from around the world come to Cleveland Clinic for care each year. And were ready for you with a Second Opinion or a sameday appointment today today today and everyday. Call today, for an appointment today. Theres confidence. Then theres trusting your vehicle maintenance to ford service confidence. Our expertise, technology, and high quality parts means your peace of mind. Its no wonder last year we sold over three million tires. And during the big tire event, get up to 140 in mailin rebates on four select tires. An Unprecedented Program arting busithat partners businesses with universities across the state. For better access to talent, cutting edge research, and state of the art facilities. And you pay no taxes for ten years. From biotech in brooklyn, to next gen energy in binghamton, to manufacturing in buffalo. Startupny has new businesses popping up across the state. See how startupny can help your business grow at startup. Ny. Gov welcome back to power lunch. J. C. Penney taking a hit. If there is a short fall in the projected sales growth shares down by about 6 on the days trade. Lets take a look at how the markets are performing at this hour. We see the Dow Jones Industrial average is up better than 0. 1 . The russell 2000 hanging on to the green but not by much. Kate rogers is at the nasdaq standing by. First to bob pisani on the floor of the new york stock exchange. Modest gains here. Want to point out sectors moving. Tol brothers giving a nice hit. 10 on the order side, a little below expectations but earnings were good and guidance still pretty good up 3 . Retailers are weak. Abercrombie preannounced down grades today. We get j. C. Penney wednesday and walmart thursday. Walmarts numbers will be lower than last year if they come in in line with the guidance. Chinas stocks have been small. Investors able to buy a lot of chinese based stocks beginning next monday through hong kong. That is a very big change. Finally, want to mention we got very good numbers in earnings still up 9 as we bring the quarter to a close. Margins near 10 . The tenyear average 8. 5 . Despite all of the concerns about inflation in some areas as well as revenue weakness overall margins are holding up very, very well. That is one reason the stock market remains at new highs. Back to you. Bob, thank you. Lets go to kate and she has the details on the nasdaq. We are up about 0. 3 here at the nasdaq which stands about a half a percent below the 52 week high. The biggest mover is baou up over 4 after one of the subsid areas announced it would buy distribution rights to more than 1,000 u. S. Movie rights. And go pro tumbling over 3 as the Company Announces its plans to raise an additional 800 million in a stock offering. It is unclear how many shares will be sold. Thank you very much. The market is kicking off a new trading week with new highs for the dow and the s p. What are the catalysts as we go into year end . Senior price president and Portfolio Manager at advisers asset manager and ken buckingham. John manages the four star morning star rated Al Frank Fund up 13 over the past year. Welcome gentlemen. I know you expect a year end rally. Lets look at some of the reasons why. Why are you bullish going into the end of the year . One thing this market has been very impressive in its resiliency. It means the quicker and impressive the recoveries noting the rebound we had in mid october. Now that some of the anxieties about ebola, Third Quarter earnings, the elections are starting to taper a bit i think that puts the focus squarely on the outlook for Interest Rates and earnings. Both of those things i think are still very positive in the markets favor here. A very good year end rally. John, i think you agree with some of that. Some of the reasons are cited by you as to why you think we continue higher into the new year. I still think that valueuations are reasonable within the context of Interest Rates. If you think about where the treasury is today at the five year at 1. 6 yield i know they are not direct competitors for equities but they did weigh on the decision we saw in the Japanese Pension Fund when they shifted towards stocks. It is attractive when you have dividend yields that are generous. My own model yields about 2. 6 . Dividend yields are attractive. Interest rates, that environment is still very favorable. The Federal Reserve while tapering is coming to an end they still are rolling over the proceeds of the debt they bought. So the fed is still accommodative. The economy is doing pretty well. And valuations are just not that stretched in my mind. Gene, where is your largest concentrations in terms of your portfolio . I know you strategically diversified that portfolio. Where are the largest concentrations for you . Largest would be industrials, materials, technology, health care and Consumer Discretionary where the lions share of our capital is focused. John, what about you . Technology is our largest even though we are value managers we find a lot of value in tech and a little less in financials than maybe some others out there. These days if you are thinking about where to put new money this is a market that the rising tide hasnt lifted all boats. Materials is one of those. Energy is another. I would be looking to add money to those areas and take advantage of a weakness we have seen in the last couple of months. Gentlemen, thank you. Appreciate it. With this high tech fast moving economy a lot of parents have this question for their working children right now. What is it exactly that you do, my dear . Thanks to a new program, a lot of parents are finally getting the answer. Hi, i work at linked in as a Relationship Manager. These are my parents and coming up on power lunch i get to teach them what i do for a living. I sure hope so. With healthcare costs, who knows. Umm. Everyone has retirement questions. So ameriprise created the exclusive confident retirement approach. Now you and your ameripise advisor. Can get the real answers you need. Start building your confident retirement today. Ghave a nice flight r bag right here. Traveling can feel like one big mystery. Youre never quite sure what is coming your way. But when youve got an entire company who knows that the most ontime flights are nothing if we cant get your things there too. Its no wonder more People Choose delta than any other airline. Welcome back to power lunch. Check out shares of hess. It boost its five year Production Forecast citing strength in output. The Company Expects to grow 6 to 10 each your year through 2018. The new estimates are based on oil prices around 90 to 100 a barrel far above current levels down about 16 over the course of the past two months. Sometimes the question of what do you do for a living isnt so easy to answer. I say i just especially when that question is coming from a mom or a dad who is trying to keep tabs on a grown up child in this new digital world. There can be a lot of confusion. Our power lunch producer was able to get inside a new event designed to help clear the air. Take a look. I dont know a lot about what he does. I believe that he is working with public relations. I work at linked in as a Relationship Manager. I thought he sold advertisements for linked in but he doesnt do that at all. Customer relations. Enterprise Relationship Manager. Corporate sales. I think it is a little more complex than that. I am a senior enterprise Relationship Manager in talent solutions. We are here for parents day. This is our first opportunity to get a firsthand look at where she works. These are our Conference Rooms named after saturday night live alumni. They know i travel a lot for my job. I think that makes them think im lonely but i am really excited to show them that im not. If i want to bring my computer here and work here today i can. I think they are proud of me. These are my parents everyone. Hi. And then this is my desk. So i have our family on here from when we went to florida on the fan boat. Nice and healthy. Do you want to sign the wall . Absolutely. Now i can ask where you text me from, are you having lunch . Who did you sit by at lunch . Questions you asked your child at school. My mom wrote my name. Thanks, mom. You are from that generation. Also with us is stern and michael parish, a millennial consultant and author of jump start your business. Im going to start with you. When your parents ask you what do you do for a living, what do you tell them . Its tough. My parents know i work in media but dont know much beyond that. Before this story i thought it was just my parents that dont have a clue but now i understand it is a universal parent thing. According to a study it found more than onethird parents dont know what their kids do at work. Do you think this is different from the way it was 30 years ago when i was just starting out in the magazine business my parents had a better idea . If it is different why is it different . Is it because the nature of businesses are different . Millennials have different values than prior generations. They really value connection with colleagues and finding meaning through their work. So as we are living in the digital age they are doing Different Things than their parents did and placing value on different elements of their work. Does that ring true with you, upton . That they value Different Things . Its not all about the benjamins . Absolutely. Michael can speak to a study that he found that says the majority of millennials were willing to forego a big salary for a job they love. That is how important it is for millennials. Doing events like this allows morale to increase. That kind of answer is easy to give on a survey. Would you prefer working for 40,000 a year in a job you love rather than 100,000 in one you dont. When it comes to practicalities do they walk the walk . If you are offering me a job i will take the 100 k over 40 k any day. This is a generation that is passionate about doing something that is meaningful. Meaning just means caring about going to their office, caring about the work that they are producing and caring what the company does. That means they need to pick jobs that let them do that and the employers need to figure out ways to express that in better ways. I want to ask each of you yes or no the rap on millennials is that they are entitled. Is that a fair word to describe them . I have strong opinions about that. I dont think they are entitled. This generation gets a rap for being apathetic. They are focused on self expression. They know who they are and what they want and maybe this is the first time a generation has championed that. I truly believe it. Entitled or not . I agree with michael. I will say we are entitled. I blame disney movies. Absolutely. They teach you you can be anything you want to be without the hard work. Im just putting it out there. Thank you. To be continued. Yes, please. Garth brooks yanks his entire song catalog from itunes weeks after taylor swift drops spotify. Did led zeppelin reject Richard Bransons offer for a reunion concert . Music. The getaway vehicle for all the confidence you need. Td ameritrade. You got this. Just take a closer look. It works how you want to work. With a Fidelity Investment professional. Or managing your investments on your own. Helping you find new ways to plan for retirement. And save on taxes where you can. So you can invest in the life that you want today. Tap into the full power of your fidelity greenline. Call or come in today for a free oneonone review. This is a special all music edition of the power run down. Garth brooks, we start there, he has dumped apple, launches his own itunes killer site called ghost tunes. Will fans go there . You are taking on the big gorilla here. We have to remember that garth brooks has held back from digital downloads for so many years. If you are a garth brooks fan this is the place to go. Brooks is trying to make this a destination for all sorts of different music packaging Different Things including concert tickets and mirerchandi. He has a new album out with a kind of mixed review in the times. Taylor swift made headlines after she yanked her catalog from spotify a few weeks ago. Why are Silicon Valley big wigs cheering her decision on . Why do they like this . I think its very clear that this is all about the fact that taylor swift can pull her music from spotify because she husband a direct relationship with fans. She is communicating constantly on instagram and facebook so she can afford to do this. Not every musician can. I am for anything that limits the number of outlets that play that song. I am all for this. I wish she would ban it from every other outlet including radio. Shake it off, in other words. Just shake it off. Lets move on to old school music. A whole lot of cash like a whole lot of love being offered apparently for a led zeppelin reunion and reports that lead singer robert plant tore up an 800 million check fraught bronson. If it is true and seems to be true that robert plant refused to do a reunion tour. For me led zeppelin is the greatest in history and to not do another money grubbing reunion tour preserves their greatness. Go look at the Kennedy Center honors from two years ago when led zeppelin was the honorees. Watch them play stairway to heaven they didnt play it but somebody else did. Lets get you up to date. The Dow Jones Industrial average up about 8 points on the trading session. The nasdaq is slightly positive and so is the s p. Not too much of a change. When we come back we bring you through the movers. Hop skip and a jump away from you. Coming up on the show at the top of the hour it was worth 9 billion just 4 1 2 years ago and today it is bankrupt. Why dendreons down fall could be a cautionary drop. A bike that tops outt 200 Miles Per Hour. We have the video to prove it. Its all coming up on street signs. At whole foods market, values matter. So all of the fresh beef we sell comes from cattle whove had room to roam. No antibiotics, no added hormones. Third party rated for animal welfare. Raised by people with responsible ranching practices on over 1000 us ranches, like hearst ranch. Because to us, value is inseparable from values. Whole foods market, Americas Healthiest Grocery store. Do solemnly swear that i will support and defend the constitution of the United States against all enemies foreign and domestic. train horn vo wherever our trains go, the economy comes to life. Norfolk southern. One line, infinite possibilities. E financial noise financial noise financial noise financial noise in flight wifi go go spiking on words that at t no longer plans on offering a competing service. Thank you so much. That will do it for power lunch. Street signs begins right now. From a 10 billion bio tech to bankrupt and a fund that you own probably owns it. What one companys cautionary tale can teach you about investing. Does alibaba make a great investment. And the bicycle that goes 200 Miles Per Hour a we have video to prove it and it involves rocket. New records for the dow, s p and transports. Since there is not ale