Welcome to power lunch , im the dow off by 52 points, and nasdaq is lower by 27, as melissa said, soaring in the debut, i almost said snoring. More on that in a moment, but, first, we are following a big breaking story on caterpillar. The Stock Plunged in the past hour on news federal agents are searching that companys global headquarters, off nearly 5 , you see from the intraday chart when the news broke. These photos coming into cnbc. In them, irs agents are gathered outside the headquarters. Lets get to morgan with more on the developing story. Morgan . Reporter thats right. As you mentioned, shares of caterpillar sliding now, as federal agents search three facilities, including in illinois. As you see from the photos, you just showed one, theres another one that has cars lined up outside of the head quarters, and those cars belong to federal agents. In this particular picture, you see agents from the irs, also fbi and Commerce Department participating in these searches. The Company
Handcuffed and chained to the floor. The indictment says burke went to his home to get his belongings, then went to the police station. After retrieving his personal belongings from lobes residence residence, he drove to the fourth prestingt where detectives had begun to process the arrest, including fingerprinting him and interrogating him. At that point the defendant burke entered the room and slapped and punched lobe about the face, head, and body. While he was in custody and handcuffed. Reporter and here is a copy of the indictment against james burke, part of it saying that he forced a detective to lie under oath while this case was being investigated and just minutes ago, also the attorney for james burke, he had a press conference here telling reporters that he looks forward to fighting the charges. Again arraignment is scheduled later this afternoon. Thank you so much. Protesting Donald Trumps proposal to keep muslims out of america. News 4s andrew siff is at city hall with mor
add further to a rally taken us up 7% from the beginning of june, sue. more than through the show. the dow up. now to tyler in midtown manhattan with more on when s happening at the cnbc and institutional institutions delivering alpha conference. great ideas last hour, ty. yes, indeed, sue. i was just getting the instructions right there. and i would say that a couple of things that really stood out when we heard jim chanos talk about hewlett-packard, if you tracked the chart of that stock, when he started speaking, and saying that sometimes in tech value stays value for a reason, meaning the price goes down, the price went down by about 50 cents a share on hewlett-packard right then and there. one of the other panelists talked about maybe an erosion of the british pound. a way to short the british pound as money flees the british pound in the years coming up. short platinum. some very interesting ideas across the board. rob, whom you know, sue, from blackrock, talked abo
the boat was approaching a u.s. supply ship in a threatening man enand ignored repeated warnings. that vessel opened fire with its 50-caliber guns striking it several times. now, while the area is near iran s maritime borders or boundaries there s no evidence they had ties to iran. the u.s. navy s 5th fleet is based in bahrain and is investigating when s going on there. this came as the pentagon announced that it is sending an aircraft carrier the uss stennis to the gulf four months early. nbc news reports that the stennis is used to support combat air operations in the skies above afghanistan. but it s more evidence of a build-up in the gulf and the more ships that are in that tight space the more likely it is that something will happen on purpose or by accident. let s get to sharon epperson for more on the reaction to this incident in the pits. sharon? reporter: these reports certainly may have been suppo supportive of oil prices. of course, there s more geopolitical
the serial stumbling and the gop is turning whispers into cries. is this as good as it it gets? could a third-party candidate emerge? what would that do to the race? plus, reversal fortune. now that bob mcdonnell has backed down on the ultrasound bill, who is happy? not republicans who accuse him of backing down and certainly not democrats who say he didn t go far enough. but democrats are taking the issue as a way to deepen the gop s already serious problem with women voters. and president obama is singing the blues this week reminding us he s not the first commander in chief to ham it up. was that good or what? richard nixon hit the piano u. they are american idol wanna bees. finally rick santorum s strange notions about phoney theology. we begin with last night s debate. howard fineman is director for t the huffington post. and susan page is a bureau chief. in that two-hour debate, romney figged out a way to blame santorum for president obama s health care plan, whi