Talks continue through monday to hammer down the details. The reports come after greeces finance minister today presented his plan to ease the terms of his countrys bailout to other finance chiefs of the euro zone with the imf and central bank. The markets did respond to these reports. Stock futures rose as did the euro against the dollar and the treasury bond prices fell. Bill adams is pncs international economist, joining us to discuss these new developments. The latest out of greece. Bill earlier this week or late last week, you were on with us and you predicted that there would be some sort of deal to avoid the worst outcomes here. What do you think they agreed to . Dont know many of the details. We dont yet and i think that is indicative of the fact that were probably not at the final deal yet. I think an agreement to agree is not quite the same as an actual agreement. Well have to see what we get in the next round of this but i think we werent really expecting the final deal until probably later in the month. This is more in line with expectations. Ideally, what would the markets like to see contained in this deal . Well, i think there are lots of different ways they can cut it and a lot depends on how europe wants their own politics to play out. I think a deal that will ensure that greece can eventually sustainably grow and that greece can service its debts and that the euro zone institutions hold together is really the, those are the keys that the markets are looking for. I think most people would say that the social fabric in greece was under extreme stress. There was high unemployment. There is high unemployment. Pensioners saw their retirement payments cut. Are those the kind of things that can really cause civil unrest . And weve seen it in greece. Thats definitely the case and i think this agreement is about how to balance the needs of having the financials work out in the euro zone with the social issues that cause the far left party to win in this january election. Bill is it safe to say that at this point, an exit from the euro zone is probably off the table for greece . I think its quite unlikely at this point. Its been unlikely coming into this. I dont know that the news that weve seen today necessarily changes. My view of it. At this point, it seems pretty unlikely that it could fall apart but i dont know im more convinced by an agreement to greece at some point by than where we were coming into the week. I guess the delicacy of the dance is to come to some agreement that maintains some of the strictures in the original bailout provisions but doesnt open the door for other parts of the european union. Portugal port italy, spain, to come back and say hey, i want what greece got. Thats certainly what germany and the northern economies are thinking about in these negotiations and for the greeks theyve come they won an election that the current government won an election by promising an end to the bailout, an end to austerity. So they have to come up with something that both wins where the germans look like they were able to hold the line and the greek government is also able to say that they were able to increase spending. All right, bill thank you very much. We appreciate it. The devil will always be in the details. Earnings. Dow component cisco which reported after the closing bell and the result at least initially may give tech investors something to smile about. Often considered a proxy for spending said hardware outweighed head winds from the strong dollar. The Company Whose shares are up 20 since october has benefitted in pickup from demand with the largest single Product Segment switching equipment which is what handles all the Internet Data traffic. Cisco earned 53 cents a share, 2 cents better than estimates. The Company Brought in almost 2 billion for revenue topping expectations. Cisco also increased its Quarterly Dividend to 21 cents and shares initially higher on the report. John forth with us. I think the one key takeaway with this report is that cisco is seeing stronger growth than e oth peers that Sell Technology to Big Companies and its seeing it even in places where you wouldnt expect it in southern europe. John chambers optimism on the call almost comical, talking about how he ran in the mo then lifted weights. Just couldnt contain himself. Normally he says with all appropriate caveats hes going to Say Something positive. He still said stuff like that but there was a lot of optimism here. For a community of investors who saw quite a bit of taking down of guidance given the strong dollar throughout earnings season. This is a hardware company, right . Basically. Theyve got quite a bit of software too built in their system. Kind of like apple that kinds to try the service system. Is this then fairly called a bellwether for spending . No not anymore the way it used to be. We look at what oracle is experiencing with software. We look at what the pc market is experiencing with those kind of head winds. Its clear that enterprises are spending on certain kinds of things but thats not the same sort of stuff that carriers spend on. Thats not the same thing governments are spending on. Theyre not as strong. Were seeing different pockets of strength. Cisco has hit a strong pocket but doesnt mean everybody will see that growth. John thank you for spending time with us. John fort. Cisco wasnt strong but its a different story for other stocks in the technology sector. Coming up a strong 2014 hopes were high heading into the year but hasnt worked out that way. Morgan brennan explains why. Tech was on top of the world last year but in 2015 so far the sector has been one of the worst performers. Why . Well profit taking a disappointing guidance and slowing growth taking a toll on tech. Analysts also keeping a close eye on currency since an estimated 60 of the sectors revenues come from abroad. Its going to impact a whole universe of Companies Based here in the u. S. So it will have an impact. I think the internet names in general are big enough to power through it but certainly going to slow growth and hamper the International Operations for a lot of these companies. Thats already playing out among the largest. Intel and microsoft, two stocks that outperform the market last year each tumbled in 2015 after providing guidance below analysts expectations. But there are exceptions most notably, apple. The hardware giant is trading at an alltime high with market capitalization above 720 billion. The largest ever for any u. S. Company. Apples recent earnings expectations. Nxp semiconductors avagoe technologies gained on the heels of apples latest report. Another bright spot . Amazon. After tumbling reported a Fourth Quarter profit sending shares 20 higher since the start of the year. Were very bullish on amazon. We continue to like facebook. I think both of the companies are positioned very well. Google is another name we like over the longterm. There are challenges in the core business slowing down. Reporter analysts also like Cyber Security stocks as the federal government beef up. Aspiri which reported earnings this afternoon but as 2015 unfolds, the broader sector continues to be a focus since tech drove the majority of gains for the s p 500 each of the last two years. For nightly business report, im morgan brennan. Stocks finished mostly flat today as the markets awaited word on the developing situation with greece. The dow recovered from being down triple digits to finish off six points to close the 17,862. The nasdaq the bright spot rose 13. 5 points and the s p 500 was flat. Closely watched Oil Prices Fell once again after u. S. Stockpiles hit record highs. Crude inventories up almost 5 Million Barrels last week to the highest level since recordkeeping began in 1992. That pressured prices, wti down 1. 18 to 44. 84 and brent crude also fell as you see there. It was a busy day in washington. The president asked congress to authorize a three year fight against isis. The house passed the Keystone Pipeline bill and the debate over how to Fund Homeland Security is really heating up. John harwood is in washington tonight and you have a lot on the agenda, john. Should we start with keystone first . Reporter sure. The house is now passed the senate bill on keystone with 29 democratic votes. Thats not enough to override the veto that president obama has promised. So were looking for that bill to go to the president fairly quickly. For the president to veto it and then were going to find out whether or not there are negotiations between democrats and republicans on some sort of compromise in which the president might allow keystone to go forward in return from some concession for republicans, but republican aids on capitol hill telling no negotiations have begun yet. The president sent i guess a resolution up to capitol hill today seeking the ability to wage war on isis. Will he get it . Repor yes, hell eventually get it. It will take weeks, perhaps months to work through this. You have democrats who think that this provides too much room for an additional military conflict. Remember president obama proposed to end the iraq war and republicans who think that ties the president s hand too much by committing not to have longterm ground troops. So eventually though i think its not going to be tenable for republicans to block this use of force which theyve call for or democrats to undercut the commander in chief of their party. John, its interest at this time when preside talking about the threat from overseas the threat from isis the Homeland Security funding is all in the fight over immigration. Reporter it is. Republicans of course withheld full year funding from dhs in order to protest and try to roll back the president S Immigration executive order. I think that is ultimately going to be a losing strategy one republican senator, mark kirk of illinois said this is the wrong battle at the wrong time. The republicans in the senate cannot pass the measure in the house that rolls back the president s order. So i think were in a process now of republicans climbing down from that effort. We dont know how quickly that will come because john boehner said today, the house needs to try to pass this bill again. Mitch mcconnell said cant do it. Were at an impasse at least for a while. Busy john harwood in washington for us. Thank you, john. The federal budget deficit for january was slightly smaller than economists expected. This is strong growth and rising employment helped raise tax revenue. According to the Tre Department the federal ran a deficit of 18 billion last month and that compares to the 10 billion short fall a year ago in january 14. Another shot across the bow of the unions and the ongoing labor dispute at the west coast ports. The Pacific Maritime association now said it will suspend loading an unloading of ships starting tomorrow and running through monday. The pma which represents about 70 shippers did the same thing last weekend as well. The association has accused the union of conducting slowdowns and other actions in an attempt to influence contract negotiations. Still ahead, the common mistakes people make that cut their Retirement Savings by as mu 25 . Well tell you how you can avoid bank of america reportedly helped some people with taxes. From the u. S. Unit to finance transactions by its European Investment banking arm that helped hedge funds avoid taxes on dividends. The bank has since phased out the program and in the statement said it no longer finances dividend arbitrage activity. A stronger dollar weighed on pepsis Fourth Quarter but earnings still beat and thats where we begin tonights market focus. Frito lay snack business came to the rescue that helped offset pressure from currency head winds. The beverage giant said they would buy back 12 billion worth of shares and hikes its dividend by 7 to 2. 81 a share. The cfo said the diversified products offering bolstered the results. The innovation is working well and that combined with the brand support that weve been able to put behind it because we have been growing r d spending faster than sales and we have been growing a m spending thats what is making pepsico working and doing it in a sustainable way. Rose to 100. 40. Time warner revenue missed mostly due to declines at Warner Brothers movie studio. Company upped dividend 10 to 35 cents a share. Shares up a fraction to 81. 01. Time warners former unit, aol, out with revenue that trailed consensus helped the Company Post Better than expected earnings but subscription revenue fell as higher pricing didnt offset a drop in subscribers. Chief executive Tim Armstrong said currency initiatives have been an issue but not as effective as other companies. 20 is revenue but its under 20 . Its probably mo muted than a company that has got 20 coming internationally. But the swing in the dollar has been really large. I mean last six months you look at the charts. Its hard to say thats not one of the megatrends that will affect peoples earnings. Still, shares tumble 10 to close at 40. 22. Shares of rite aid rose on news of an acquisition. Benefits manager envision pharmaceuticals for 2 billion. The move comes as the Company Looks to better its position in the changing health care environment. Shares were 6. 5 higher to 8. 08. The generator maker generac. Saw an increase in sales in commercial and industrial division. Still the stock up about 3 today to 48. 94. Pier one saw shares plunge after cut full year guidance higher than expected spenss. Separately retired the announcement of chief financial officer. Stock fell 24 today to 12. 84. Whole foods earnings better than expected while sales were in line the company was able to attract more customers to the store that shares higher initially. Up a fraction to 53. 51. Meanwhile shares of tesla plunged right after the close when it reported sales and a quarterly loss that were below estimates. The electric car maker did not deliver as many cars as they expected to which blamed on a variety of factors like the weather and issues and shipping problems. As you can see, shares dropped in initial after hours trading. Before the close, the stock was off more than 1 to 212. 80. Americans are draining their 401 k retirement accounts early. A ne study said working americans approaching retirement reduced retirement wealth by 25 . This leakage or preretirement withdrawal asks if the rules need to be changed. Ivory johnson, founder of own Wealth Management firm de lansy Wealth Management. What do you make of this report and why does this happen . Why are we reducing our retirement when so many of us are worried about retirement . I think a big part of it is investors dont have any type of a Financial Plan and as a consequence, theyre less likely to have a budget. Less likely to have an Emergency Fund. Many instances, they havent prioritized their goals and as soon as they hit a rough patch, they go to the one place they do have money, their Retirement Plan. So theyre using their Retirement Plan as Emergency Fund they hit a hardship they take out a loan. It becomes their piggy bank and they shouldnt do it that way. Thats exactly right. When you take money out as a loan not only are you paying it back with after tax money but not tax deferred. If you take a cash out option you pay taxes up front and then a 10 early withdrawal penalty. Its very punitive in nature. But lets not forget that even though corporate earnings are going up and this is another issue, wage growth has been very tepid. And so what that means is while theyre not being paid more their expenses are going up in the form of Higher Health care a lot of it is education. If you look at two reasons to take a hardship withdrawal, two of them d i dont think its by accident is health care and paying for college education. So should that change then . Sould they tighten up those rules so that you cant touch it for that . That would be a hardshiped i think. I dont know that you can regulate responsible behavior, for lack of a better word. Restrict what they can take out. But i will say employers have a fiduciary responsibility to provide services. I think if they make the financial industry more robust and create the Foundation People are less likely to use their Retirement Plan as a piggy bank. And to build, as you say, that separate Emergency Fund. Correct me if im wrong on this if you leave a company or youre laid off the from a company and have an outstanding loan on 401 k what happens . That counts as early withdrawal. Immediately taxed and youre given the 7 penalty. Thats a huge problem. Think about that. If you have a loan that you intend on repaying and get laid off, you either have to put that money in or it counts as a taxable penalty prone withdrawal to you right . To add insult to injury as you get Employment Benefits not only lost your income but have a tax issue. This is getting scary. So lets get some advice for our viewers tonight on what the one recommendation you would have for them to do so that they arent so tempted to touch that retirement account. I think they should put together a plan to prioritize what it is theyre trying to accomplish because if you have an Emergency Fund and you havent maxed out your credit card that gives you some cushion. So when you go through a rough patch, you dont have to access your retirement. Ivory johnson. Thank you for joining us. Dlansi Wealth Management. Coming up washington states growing business problem. One that probably didnt see coming just a few months the fbi wants to know how fraudulent tax returns were filed in numerous states through turbo tax. As first reported by the wall strejournal the agency is looking into how personal information used to file the returns was obtained. As many as 19 states have been affected. In two, the Parent Company of turbo tax say it did not believe resulted from a breach of its systems. Colorado collected about 44 million in new sales and excised taxes last year from the newest industry. Recreational marijuana. But that was below projections of 70 million. Colorado was the first government to regulate Marijuana Production and sales. Recreational marijuana is also legal in washington. But that states tax rates on pot are vastly different from koerls and thats just one of the issues plaguing the new industry and causing some growing pains, if you will for a lot of marijuana business owners. Jane wells reports from vancouver, washington. And this is a kind of lifestyle that we were looking for. Reporter tom lauerman hoped to ride the green wave of Legal Marijuana in washington state. Our garden is called the garden of the green sun here in washington. Reporter but a funny thing happened on the way to profitability. They grew too much pot, prices plummeted. In the early days, we were able to get 1700 to 2200 a pound. Wholesale. And now like 700 800 a pound. Reporter still profit snbl. No not profitable at all. I have all stuff stashed away for later. Reporter how c there be so much with high demand . Several reasons. Most of them due to the difference of the way washington has set up legalization versus colorado. First, in washington grow outside and the weather made for a bumper crop in washington. The taxes are higher. And medical pot here isnt taxed at all. Many locals are not switching over. In washington the state handed out growing licenses more quickly than retail licenses cating an imbalance between farms and stores at least temporarily. And in washington they are not drawing the same number of out of state tourists that colorado does. Theres 45,000 extra pounds floating around with no home right now. Too much pot. Reporter watching this unfold entrepreneurs like ana gonzalez in california whose g pharma creates others like chocolates gonzalez wants to expand into other states including washington. Were going to be able to go in there and find facilities for pennies on the dollar. My dream is to stay on the farm. Reporter farmer toum lauer man wants to succeed where others fail by branding his own image on product. Right now, were facing bankruptcy and our farmers are up for foreclosure. Reporter he hopes to hang on long enough to put the 2015 crop into the ground. For nightly business report, jane wells, vancouver, washington. Organically grown it said right there. Have you purchased your power ball ticket yet . The jackpot now close to 500 million, almost half a billion. Thats before taxes. The Third Largest power ball prize ever but its big enough. The fifth largest lottery prize in history and that has people dreaming big. I have kids about to start college. Two others to follow. I work everyday so does my husband. Why not . A nice little bump would help. I dont consider myself lucky and i just feel like its plowing away money but i shouldnt really. If you dont play how are you going to win . Indeed. Thats the fun part. Not so fun part likely wont win. The multistate lottery association, you are more likely die in a lightning strike, since were talking happy thoughts here rkts 136,000 or killed by an asteroid. Im surprised the odds are that low or be attacked by a shark. Not the shark that did dance next to katy perry in the super bowl. One in 12 million there. You had to spoil the dream, didnt you . Hey, you never know right . I like everybody. Thats nightly business report. Hopefully, if were not here tomorrow night, we won. That does it for nightly for tonight. Im sue herera. Thanks for watching. Thanks from me as well. Im tyler mathisen. Well see you back here a lot richer tomorrow laura when Gabriel Cochrane of fellwick was evicted from his home and business it felt to the locals like a great injustice. The cause of gabriels hardship was the merciless mr. Steerforth for he was the cold hand and the calculating eye of the bank who had foreclosed. Expelled from the only life he had ever known,