Victor cruz, how he has received quite a following which includes the music mogul jayz. All that and more over the next hour. But first headlines from carol massar. After the close of u. S. Trading, lower fourthquarter profit. The companys declined from the power plants it is building in the southwest. Falling to 65 million from 150 4 million earlier. The stocks are falling in afterhours trading. Dreamworks posted fourthquarter revenue that missed analyst estimates. Video sales fell short and fourthquarter results including a charge of 13 point 5 million related to the performance of turbo which was released in theaters. Morgan stanley has agreed to pay the u. S. Sec 275 million to probe into the sale of Mortgage Backed securities in 2007. At this hour, the u. S. Senate panel is releasing details of the twoyear investigation into Credit Suisses efforts to dodge the tax man. A hearing will feature top officials from the Justice Department. Peter cook has got the details. Credit suisse i
Drive customers away. Microsoft unveils a new version of its tablet. Epic fail. A newlds unveils character to promote healthy food items to kids. One problem, it is totally scary. Welcome to Market Makers. I am stephanie ruhle. I am at alec still, in a four Erik Schatzker and was on i am alix steel, wh in for a chapter, who was on assignment this morning. Credit suisse agreed yesterday to you the guilty to charges that help americans illegally invade that it evade americans illegally taxes. This case shows that no Financial Institution is above the law. When the department of justice conducts investigations, we will always the always follow the law on the facts, wherever they may lead us. Profitability or market share can never and will never be used as a shield from prosecution or penalty. There were concerns that a guilty plea could prevent clients from doing business with Credit Suisse, but those concerns seem to be unfounded. Shares are up on the day. The markets seem to be feeling
Banker who buys and sells Major League Soccer teams. One ben affleck or Leonardo Dicaprio need a break they had into one of these multimillion dollar trailers. You would not believe the amenities. Welcome to Market Makers. I am stephanie ruhle. I am alix steel, in for Erik Schatzker. I think we need that trailer. I could not be happier they are doing that feature. It is a recipe for this organization to know how i like to will. For now, we will talk about a big number, 5 billion, how much it could cost bnp paribas to settle a probe on whether the bank illegally did business with iran and sudan. It is double what Credit Suisse paid to settle a similar investigation, and moral than what investors were and more than one inspect investors were expecting. I want to bring in more i want to bring in keri geiger for more. The hits keep on coming. I think the capital ratios can sustain a 7 billion hit, so we are not in number that can hurt the bank, but it is unfolding into something interestin
Brown versus board of education was 60 years ago. I was too young to understand the uproar, but i remember the debate clearly. Yelling and screaming at dinner parties. Incredible. Madmen, that was my childhood. Sitting at the top of the stairs. [laughter] let me do a data check for you. There is the story. We will talk to michael. The 10 year yield. We care. Weaker. Nymex crude has done nothing. Ruble, i put up there with a little bit of interest in ukraine. We will see that in our headlines, as well. Let me go to the screen and get you set up on what the pros will be talking about. This is the 30 year bond. Since adam was a pup. [laughter] this is the uproar you see on every cover of every newspaper. We have looked at the front pages this morning. Here is scarlet fu with our front page. Credit suisse is the first one. It is close to settling with the u. S. Government over tax evasion. The Parent Company would plead guilty and pay 2. 5 billion for helping americans evade taxes. The dis
Are you looking at . As you give us the eps number, it matches estimates, but the sales number is a big miss. Comparable sales, spain samestore sales was down 1. 6 . Analysts were looking for a gain of 1. 3 . What happened in the First Quarter was the weather issues. Frigid temperatures in february. Multiple winter storms. Amateurs were much colder in february than they were in the previous year. A late easter as well. Inventory buildup that carried over into the First Quarter and macys had frequent oneday sales, giving you an indication of how frequently they had to markdown merchandise to clear store shelves. That pressures margins as well. In terms of growth margins, 30. 9 for the quarter. Higher than what analysts were looking for, 38. 7 . The key much the same as it was one year ago. Samestore sales number caught my eye, and unexpected drop of 1. 6 . What we hear from macys is they have raised the Share Buyback by 1. 5 billion, and it is also increasing its dividend by five percen