Verizon and travelers insurance. Causing the bill chips to call 45. While money went into tech with the nasdag up 28 points yesterday. Ibm reported earnings after the close disappointing wall street with its revenue and its outlook. Texas instruments is cutting eleven hundred jobs. Even thought the Company Reported a boost in profits. The wall street journal reports amazon is considering an online pay tv service. And it could be a rough commute this morning. Especially for people on the east coast following a fresh blanket of snow. Larry shover of sfg alternatives is here to talk about this earnings season. Good morning to you, we are on earnings watch. We had big blue report after the close. How likely will that effect trading today . Its according to how deep people dig into it all. Tech is a big one this week. Theres so much to decipher. The stock did rally initially after the report came out because there were some beats. But theres also some big challenges for the stock especially when it comes to growth metrics overseas. The nasdaq seems to be catching some power here but what other rotations are you seeing within the stock market thats actually moving some big stocks out there . A real big one that were seeing the last couple days is money coming out of the big banking centersgoldman sachs, Morgan Stanleymoving into Companies Like comerica and key corporation. Traders dont seem to know why this is happening but its a theme weve seen for the last 3 or 4 trading days. Quick question about targetfinally the stock started to get rattled here over this Cyber Security breach. Would you buy this stock at current levels . Or would you wait for the dust to settle . I think id wait because its not just target. Obviously they have one big problem on their hands but when you look at the rest of the retailer base, even macysa Strong Company with good interest margins theyve all been taking chin. I think its a secular headwind thats gonna last for the next several months. Thank you larry. Youre welcome. Its a davos day. A day when World Leaders get down to the business of improving the state of the world. Those attending the World Economic forum in gorgeous davos switzerland including president s, prime ministers, billionaires and celebrities such as matt damon. Despite the list of whos who dr. Bluford putnam a chief economist at cme group says the meeting is not likely to hold the same significance as years past. Davos can be really important when there is a major financial issue edit out 24 28 in early 2009 davos was very important but right now the possibility of a crisis is receeding, the u. S. Is growing stronger things are coming back. So davos will be a more introspective meeting this year. Since the meltdowncentral banks have rescued struggling economies which in turn has improved stock markets around the global. However, there an even greater divide of wealth. Global unemployment rose by 5 mllion in 2013. And according to one estimate the combined wealth of the worlds richest 85 people is equal to half of the worlds population. The topic of how to spread the wealth will happen in davos. Chuck coppola joins me now with an update on economic inequality in america. Next month, when president obama tours europe, he will meet with pope francis and we are told that they will talk about income inequality. Both leaders have had a lot to say about it, recently. So too, did dr. Martin luther king junior, whose birthday gave us a national holiday, this week. The slain civil rights leader would have been 85. chanting marchers income inequality. It spurred months of protests in the financial districts of the us. And morphed into a battle cry to raise the minimum wage with echos from the pope to the president. chanting marchers were talking about it more. I have a dream though many think the march on washington stops there. The rest of it was for jobs and freedom. And the Congressional Budget Office reminds us that many are still marching. Between 1979 and 2007, income for the top onepercent of americans grew 275 . For the bottom 20 it grew 18 . But isnt hiring picking up . People want 40hour weeks. Theyre only cobble together 2030 hours with 2 or 3 part time jobs. But fred banyon, who teaches Financial Concepts to high school students, says one remedy in the us is not raising the minimum wage. Youre just going to get automation. He says its not enough to blame the Us Manufacturing sectors 35year decline that led workers from forklifts to french fries. Banyon is among those who believe closing the income gap is going to take a lot of workfrom the start. You need to start them in school and teach them about how to own companies. And the issue of income inequality reverberates beyond the us. The World Economic forum says globalization has is polarizing incomes in emerging and developing economies and will pose the greatest risk to the World Economy for for the next ten years. A former accountant at the vatican is facing fresh charges. Police in italy say monisignor Nunzio Scarano is accused of taking checks marked donation for the poor , turning them into cash and giving the money away. 52 people are under investigaiton in the case including a notary, lawyers, doctors and Business People suspected of using the money. The monsignor is already on trial for alleged corruption. His attorney contends the he used the money for charity. Target has it coveredthe retailer, which suffered a massive hack attack last month, reportedly has 165million dollars in cyber insurance. The money could be used to pay claims following the hacking, which compromised the data of around 70million shoppers. Target is still dealing with the fallout. Yesterday, it beefed up security on its website, by shutting down Remote Access to sites for employees and suppliers. 7eleven makes a push into the fresh food market. Known more for slurpees and frozen goods, the nations Largest Convenience store chain is attempting to capitalize on consumers wanting to pick up a quick meal such as an egg white breakfast sandwich. A Majority Shareholder of Darden Restaurants may be having separation anxiety. Hedge fund, Starboard Value wants darden to put off its break up with red lobster. The Restaurant Operator said in december it wants to split off from the seafood chain, as its underperformance weighs on dardens bottom line. Now, starboard is warning that the break up could destroy substantial value of darden. Dardens stock dropped slightly in trading yesterday. Ibm is close to selling off its lowend server unit. Lenovo to a company in chinabig blue wants to lighten its load as it advances into cloud computing. Meanwhile verizon is buying intels paytv startup oncue for an undisclosed sum. As it reportedly makes strides toward online pay tv. Activist investor daniel loeb reveals a major stake in dow chemical. Loeb writes that dow chemical is now in fact the largest current investment for his third point hedge fund. Loeb is calling for a Strategic Review of dow and a spin off of its petrochemical unit. Dow shares were up more than six andahalf percent yesterday, on news of loebs position. New accusations are coming to light in the Chemical Spill in West Virginia. Freedom industries the Chemical Company blamed for the leak. Has filed for chapter 11 protection. The case goes before a judge today. Business week reports West VirginiaAmerican Water is accusing Freedom Industries of concealing its true ownerhip and failing to provide the Bankruptcy Court with Financial Information including its insurance coverage. West virgiania amercan water suffered expensive damage during the water shut down. Freedom industries declined to comment. An investigation may be prompting jp morgan to drop out of a business deal in china. The bank is reportedly backing away from involvement in the i po of a hong kong Chemical Company due to questions regarding jp morgans hiring practices in china. Back in august, an investigation was launched into whether the bank was responsible for inking deals in exchange for hiring employees related to powerful business figures. Its already withdrawn from one ipo. Jp morgan has declined to comment on the move. Fiats acquisition of chysler is officially a done deal. The italian automaker has paid 1. 7 billion dollars to the uaw to buy the remaining stake of the car company. Its partially owned chyrsler since 2009, when it was forced into bankrputcy protection. The very popular videogame candy crush has successfully trademarked the word candy. Videogame maker king says it has done so, to protect the game from persistent intellectual property infringements. The game has been downloaded half a billion times since it was launched in 2012. Sweet. In our earnings roundup. Delta airlines landed a 2. 7 billion profit this year on higher air fare and lower fuel prices. J j came in ahead of expectations but its outlook for the year fell short of estimates. At travelers insuranceprofits surged as it escaped major catastrophic events last year. Verizon continues to benefit from the rise of wireless users. The Company Posted a profit of 5 billion dollars, revenue improved 3. 4 . And halliburtons earnings jumped 19 . However, the drill Company Faces challenges from a glut of equpment used in fracking. Las vegas makes a bet on bitcoins. Starting tomorrow, five locations in sin city will accept bitcoins for payment. The Virtual Currency has been gaining a foot hold with mainstream merchants. Bitcoin users make payments via bitpay which allows merchants to process payments much like visa or mastercard. However, bitcoins are not distributed by traditional banks and are not regulated. March madness is taking a billion dollar twist. Warren buffet and the ceo of quicken loans have pledged a billion dollar cash prize to anyone who can fill out a flawless march madness bracket. However, the odds are in buffets favor. Usa today says your odds of filling out a perfect bracket are one in 9. 2 quintillion. That means if everyone in the u. S. Filled out a bracket once a year. There would be a winner once every 400 years. As a consolation prize, quicken will give away 100 thousand dollar prizes to those with the most accurate brackets. In whats being called the most lucrative athletic collegiate deal to date. Under armour will supply uniforms, shoes and other gear to the university of notre dame. For the next 10 years. In winning the deal. Under armour upset adidas which was the previous supplier. Under armour shares are up 80 for the past year. The Athletic Wear Company also provides uniforms to other schools including northwestern, auburn and boston college. Still to come battle of the berry farmers. Find out why competition is coming from across the border. Plus. Which team wall street is betting will win the superbowl and. Why those superbowl tickets are reaching never before seen highs. Thats next, after this in the know message. Real issues theyre dealing with can be awkward and uncomfortable. But when their behavior changes, its time to act. Because if we dont, our families and relationships will suffer. Listen to the veterans in your life and show you care. It matters. When you recognize a veteran is in crisis, call the Veterans Crisis line at 18002738255 and press 1. This years super bowl match up between the Denver Broncos and the seattle seahawks. Has at least one spectator believing average fans are being shut out of the game. We easily found ticket prices selling above 5,000 for the big game. New Jersey Business man Josh Finkelman is suiing the nfl accusing the league of violating the states Consumer Fraud act. One of mr finkelmans attorneys Diane Sammons of law firm nagel rice joins us good morning. Good morning. Can you spell out your complaint for us . We havent gotten a date from the court yet but we expect well be in front of the court within the next 2 to 3 weeks. Essentially the case is about our argument that only 1 of all tickets that are sold for the superbowl actually go to the general public. Theres legislation in new jersey that specifically provides that 95 of all tickets must be offered to the general public. We attempted to get a response from new Jersey Governor Chris Christie where the game will be played. Do you think there will be action from the Governors Office . In terms of whats going on with the governor, who knows . Its interesting to see whether or not the governor will take a position or the Attorney Generals Office will take a position on the litigation. They have an opportunity to bring their own litigation under the same statute. As i mentioned super bowl ticket prices are well above face value. We contacted the nfl which tells abc news, we can never fulfill all the requests for tickets. The nfls super bowl Ticket Distribution process has been in existence for years and is well documented. We are confident it is in compliance with all applicable laws. Whats your clients experience with ticket buying . Our client spent 2,000 for tickets that probably have a face value of 1,000. So for him it was double. The New York Post reports prices for suites are going for 1 million. Why are prices rising so quickly . I think its a combination of things. The fact that the nfl keeps 25 of their tickets for their own folks but what happens with a large number of these tickets is they end up on the secondary market. These secondary folks come in and they package these tickets. Those packages include, limo rides,and pregame festivities. Is your goal to get more tickets away from the corporate sponsors and thesecondary market and into regular fans hands . What would be fair is if the nfl put restrictions and said that those tickets that go to the individual teams would have to be sold to the general public in some fair systembe it a lottery system or otherwise at their face value. Thank you for coming on our show today. Thank you so much for listening. Wall street anticipates a seahawks superbowl victory. The super bowl indicator is a market superstition that states when an American Conference Team wins the market will decline in the year ahead. If a national Conference Team wins. The belief is the market will rise. Since many investors believe the market is headed up, wall street is betting on the nfc team, the seahawks, to beat the Denver Broncos. The indicator has been correct 37 out of 47 superbowls. Coming up in chart talk. A trader who is counting on a Health Care Stock to deliver on earnings day. Plus. Why Strawberry Fields arent always forever when it comes to new labor challenges. Thats just ahead elaine it was 17 years ago when i decided to become a mentor that i was assigned to christina. When she was in the first grade, she was a shy little girl, not able to smile much. Christina elaine showed me there were people out there to help me and guide me through life. When elaine let me read her diary, i didnt even realize how important i was to her, and now that im mentoring, i feel that same importance, and i can spread those same values to the girls i mentor. Be someone who matters, to someone who matters. Midwest farms are under a blanket of snow, but in floridastrawberry season is in full bloom. Jackie keenan reports on why farmers there are seeing red and we dont mean from the color of the fruit. The work here at fancy farms is anything but fancy, but the fruits of this labor is a beautiful red treat. Florida is the nations second largest producer of strawberries behind california. Acreage is up to 12,000, with revenue nearing 400 million dollars. And the demand for this tasty fruit across the us is increasing every year. The industry has been going on more than 100 years, we have beautiful weather here in the winter time so we grow beautiful strawberries. The strawberry industry is growing in florida but there are big challenges for this tiny fruit. This is a trying year here if we have a lot of berries come on here in the next 6 to 8 weeks and there arent enough people to pick these berries youll see farmers not plant as many acres of berries because of the labor situation. Fancy farms owner carl grooms says he and most other farmers depend on immigrant labor, but even when going through Government Programs to find legal ways of hiring, its still not enough. To find labor in our fields under the constraints of the government its very difficult. To find hands to pick the berries, plant the berries, its all hand work for us. An even larger problem for floridas farmers is mexico. Strawberries here serve a sweet spot during the winter months, filling in when california cant. But mexico grows its berries at the same time, and the labor and production are cheaper, which is pushing profits down into the dirt. As they become larger, it creates an oversupply situation, depresses prices for all of us and no one can survive that latest numbers from the usda have farmers in this area worried. Mexicos production of strawberries has nearly quadrupled since 2000, up 36 percent from last year alone. And with the winters being milder than usual here, the fruit is plentiful so prices keep going down. Grooms hope consumers check for the florida seal to make sure florida farmers are being supported. Today mexico has 25,000 acrs and they are picking this day, and they are shipping it into the United States and the chain stores are buying them because theyre cheaper. I think a lot of consumers are buying california or florida and theyre really not. I don tmind them buying from california but lets stay away from the foreign stuff. For First Business news, im jackie keenan. Jackie tells usmexico has one and a half times as many acres of Strawberry Fields as florida. But california Reigns Supreme with 38,000 acres. Chart talk is next with a stock that could bring health and wealth. Well be back. Matt cavanaugh of cmz trading joins us now. He has his eyes on abbott labs which reports earnings today. Good morning matt. Good morning. Do you have high hopes for this company and its stock . I do. I really like the company. I like what theyve done. The market has rewarded them. As you see they are close to their all time highs. But i do have a little bit of a warning here and that would be i think that you can buy abbott labs but wait until theres a little bit of weakness. What level would you ant to pick up this stock . Well, i see support for this stock around the 36 range, i dont know that it will get back down there. I do think that if it gets down there its a buying opportunity. Whats some of the chatter going into this earnings season for abbott labs . They came off a really good 3rd quarter. They kind of blew it out of the water, they hiked their dividend, they did a lot of good things and i think because of that expectations are pretty high for this earnings. The whisper number is about 60 cents a share. I think that if they dont meet that or maybe even beat it that the stock sells off and thats why i say maybe look to buy it on some weakness. In the long term is this a buy and hold or a trade . I think its a great company, theyve got a long track record, they pay a nice dividend, theyre well run. Theyre a big multinational company, theyve got exposure all over the world and youve seen even last week Morgan Stanley agrees and they just upgraded the stock so i think youll be alright. Thank you matt. Thank you. Thats a wrap for now. Coming up tomorrow its a movies and money day. Find out why are film critic is already focused on february. Thanks for joining us today. From all of us at First Business, have a good wednesday announcer the following is a paid presentation for dermawand, brought to you by International Commercial television. [. Hi, im lisa varga. Im 40 years old, ive never had cosmetic surgery and im not afraid of High Definition cameras. Bring them in closer, guys. Closer. Good. Now, do you want your skin to look as youthful, fresh and linefree as it can . 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