Business confidence there down for the first time in five months. Our roadmap begins with the nasdaq looking to turn around a second consecutive slide in biotechs, deterioration in what some of these momentum stocks we say. Cloud storage firm box planning to raise over 250 million in an ipo and list under the ticker box. Reports that manager knew of the gm ignition problems prior to the launch of the cobalt and withheld some vehicle data. First up the nasdaq hoping to rebound the morning after the selloff which saw the index closing at 5 1 2 week lows and biotechs took a hit and tesla and netflix. We talked about it yesterday, and wonder if this is a longerterm dynamic in terms of leadership. I think that gilead comeback yesterday was significant but a lot of the others didnt. You know, were going to be talking about box filing and i look at that offering and i say or drop box, too, i say, these are the kind of companies that are putting a lot of pressure on the rest of the companies.
Auto executives flew to washington in private jets as they were asking for a taxpayer funded bailout. A very contentious hearing. They were embarrassed. Today it is gms c 0 in the hot seat. All right, rich, mary barra is a soft spoken woman. Do you think thats going to deflect some of the hostility that may be directed towards her . Reporter i think the situation will deflect the hostility that we saw. You pointed out the optics that surrounded it and the questions whether or not they were tone deaf coming here, hat in hand in 2008, asking for bailouts having stepped off their corporate jets whereas marry barra has optically done the right thing. Shes met with the families, shes going to apologize today according to her prepared remarks. She wasnt technically ceo at the time, however, there is a level of frustration among lawmakers how much they direct specifically barra. Shes the one representing the company, and theyre going to want to get their outrage out, but probably nowhere near
Interview with investing legend Julian Robertson of the tiger funds. What are his best investments right now . Plus, he tells us who he thinks the best investor alive is today. And, then amazon launching a Music Service today. But wall street seemingly unimpressed. The stock taking it on the chin, down about 17 year to date. Our special guest bob olsteen is not surprised. Hes been a bear on amazon for a long time now and says it is about to go from bad to worse. Bob olstein will tell us that and more exclusive in about 30 minutes time. Right now in the markets heading into the close, major indexes heading towards their lows of the session. Dow jones industrial average shedding 122 points this hour. Take a look over at the nasdaq which is off by about 42, under 4,300. S p 500 shedding about 15, at 1,928. Heather hughes, jim lowell, peter anderson, and from chicago, our very own Rick Santelli. Welcome, one and all. Heather, let me start with you. Weve been spending a lot of the day focus
Expectations. When the expectations are not so great, stocks can really rally, as they did today in a glorious overall win for the bulls, with the dow roaring 188 points. And the nasdaq skyrocketing 1. 75 . Of course, dickens has it right in both directions. Those stocks, where there were, in fact, great expectations, a la the stephen king of the victorian era, and the company failed to deliver, or if the stock has run up but didnt beat the numbers handily, well, those got taken into the wood shed. Yes, during earnings season when stocks are flying all over the place and youre trying to figure out whats going on, you need to know what people are expecting, because the expectations themselves, not the numbers, often decide the direction of a companys stock. We need to drill down on this, in part because the stock market is not inherently rational on a momenttomoment basis. Yes, the market can be stupid on a given day. But it does tend to come to its senses. Let me give you examples star
Traffic. Investigators will use sophisticated surveying and mapping equipment and 3d diagramming to reconstruct the sequence of events that caused the collision. Were going to be investigating the human, the machine and the environment. Reporter survivors were taken to four hospitals. Reporter there were 30 injuries in all. Some of the other casualties include an admissions counselor at Humboldt State where the bus was heading and a couple who were chaperones that had recently been engaged in december in paris. Liz, Authorities Say they admit they are probably going to have to use dental records if not dna to identify some of the other victims. Unbelievable. Those pictures are just incredible. Brian, what do we know, though, there are reports there may have been a third vehicle involved in the crash. What do we know about that . Reporter yes. Some of the eyewitnesses thought they saw that the fedex truck sideswiped a car before hitting the bus. That is something the ntsb you said theyr