tv Fast Money Halftime Report CNBC April 17, 2012 12:00pm-1:00pm EDT
anything else, i think there's a lot more that goes into this. if you want things cleaner, things run more smoothly, there needs to be some logic, and i find very little logic involved in a lot of what i hear coming out of the cftc and the ftc, personally. time for the "fast money halftime report" back at hq. >> that's right, carl, five minutes until the close. we rallied at 170 points. the nasdaq is at 46 and we hit the s&p by nearly 18. oil and gold, aren't you oil traders listening? didn't you hear the president? oil should be lower today, come on. it's higher by a buck 61. gold shir by nearly $4. let's get to the stories we're following on the "half time
show." we're trading ibm, intel ahead of yahoo earnings tonight. we're going to make the bullish case for yahoo over google. asse and trading on tax day. some of the traders have ways to make money as uncle sam takes money. welcome to the "half time" money report. are you helping today? >> i am trying to help as best i can. i liked what we had seen yesterday, and when you think about yesterday, everybody almost reacted like yesterday was a down day in the market. it was a down day for apple, it was a down day for priceline, it was a down day for some of those big mogul stocks that were moving in the upside at what seemed to be a marvelous pace. you had the material space moving, i like that space, i still think it's undervalued.
big cab tech continues to work. i know we'll talk about some of those earnings later, but intel, ibm, across the board, microsoft, cisco, oracle. go down the line at big cap tech. that has been working and i think it continues to work. >> what are you doing today? >> i agree with pete where yesterday's nasdaq selloff gives you a great opportunity to look at tech names that you just haven't had the opportunity to say, i'm buying this on a dip. we did a little bit of nibbling but i still remain somewhat alarmed by the fact that we started to hear more about europe again, once again -- >> here's what strikes me about europe. we are hearing about europe again, and the market goes higher. it wasn't like last summer where it went lower. >> i don't think it's an end of the world scenario, it's just aggravating that that's back in the picture, but we can't pretend it's not there. the fact of the matter is, the spanish stuff is now on a daily basis. we have risk on, risk off.
we're doing that all over again. it doesn't seem quite as extreme as last fall, but we have to be mindful of it. so i don't know if this is the kind of environment where i get really excited. and we are heading into no-man's land. >> triple digit moves for the entire week where for months we didn't have any. >> michelle, i want to mention, too, you say europe is a problem yet we continue going higher. yes, we went higher today, and i came in on a neck-long margin, and i covered my assets last week, but i'm starting to get to the other side of the equation now. and we are still lower on the month. we ended march at 1408, so we're still 20 s&p points lower. i think europe continues to smolder. when you look at spanish equity, yes -- >> but did it catch fire. >> yes. spanish equities has made a lower low now. there's a systemic problem, not
a transitory problem. i think it's not even spain that's the problem, it's france. i think a lesser risk is going to turn it into a true fire. >> we'll know ultimately in may. if your name is cnbc and your name is simon, you must have an english accent baker. >> that's right. spain for a second. that's not greece, okay? greece was sort of a pinball in the face. spain is the fourth largest economy over in europe. i mean, it's a big problem we want to keep an eye on. just the point of how we're trading on the u.s., this is the type of market we like, and i was talking about moving from the non-cyclicals to the cyclical type names. i still think very much this economy is moving forward. this is the type of market you should be trading out. i'm moving into the cyclicals. >> the cyclicals. we're looking at this energy spider. we're looking at oil higher today.
we're going to talk more about oil later on in the show, but do you all feel evil? are you evil people? you don't look like darth vader, but repeat after me: speculator. and the spit thooz cohas to com you do this. >> i think this is such a scapegoat for speculators. i think speculators are actually keeping the price of oil down. speculators do not, by definition, want a price to rise. i think this is a red herring, i think it's a boogieman, and i think, in fact, if you enact measures to take speculators out of the market, what we might actually see is higher prices. >> this is one of the few times -- we disagree on just about everything, but i'm going to agree with you on this. when you look at the price of oil it's been 100, $105 a barrel now. speculators hate that kind of volatility. they want something volatile. they want those up-down moves.
take a look at the equity markets right now when you're looking at the s&ps, the vix. it's pushing to that average again, stuck to the 100-day above, 50-day below. >> let's move on to financials. goldman sachs went from evil traders -- no, goldman sachs investors are not too impressed with the earnings report. reiterating his neutral rating on the shares, you kind of agree with the market reaction today, doug? >> yeah, i do. i think the stocks had a nice run, a good quarter. probably not good enough to keep the run going. there's probably a touch of disappointment. >> what's the problem? >> i think the issue for the quarter -- not the issue, but i think the touch of disappointment was trading down 20% year after year, comp for morgan and citigroup didn't look as good and that is the big driver for goldman sachs, so we'll have to see what that looks like going forward. normally that's the strongest
quarter of the year, so there's a little disappointment, but it was a solid quarter. >> if you're neutral on goldman sachs, what do you like? >> i actually prefer morgan stanley. i think there is an up side for morgan stanley. i think it reacts in a big way for now and next quarter. i also think they will have better commentary around investment pipelines, more particular facebook, and i think you'll also see more on the cost-cutting side which is a formality in this industry right now. >> you talk about morgan stanley, it's primarily because of the retail side. on top of that, how about jp morgan? can it get to that $45 range where jamie talked about they would pull back on their stocks if it got to 45 and above. >> with respect to morgan stanley, it's generally on a one-quarter lag, so the q1 will
definitely push revenues in q2. the fact that the capital markets continue to hang in there, gold, jp morgan, are all going to continue to work as long as we see decreasing market capital funds. >> it's doug brown, and i'm just curious because the word on the street and the takeaway from money managers that i talk to is it sounds like gold man is derisking. can you talk about maybe what do they see that makes them want to pull back the reins to some extent and not be as active in commodities or fixed income? any takeaway you see there? >> gold man definitely approaching things with a little more approach on fixed management, whereas some of the other firms reported a sharper increase in fixed trading, and i think they're managing a balance sheet with an eye towards europe, an eye towards the regulation. it's not clear how the final regulations will end up, so
they're definitely still embracing more of a risk-mitigating culture. >> hey, guys, meredith whitney has just upgraded citigroup to hold and perform. i guess that's an improvement. do you cover citi? >> i do not cover citigroup. >> does meredith whitney's move cause anybody to jump into the stock? she's late. >> i don't know if she's late, but it's great to have her on the board because she's usually such a pessimist. i like the citi move. as well as bank of america as well. she follows along with dick bouveai and expects to see a double in one of these names. cortez, you doing anything with the financials? >> i'm not. among the financials, goldman sachs is definitely my favorite on valuation. it makes a lot of sense here. doug mentioned this about fixed year trading. the ten-year note has spent most
of 2012 right at 2%. that's a tough environment to make money in fixed income. that's the reason i don't own the stock here. >> all right. thanks so much, doug. appreciate it. next up, we're going to touch apple. apple touching all-time highs just before the trade-off. >> i'm short apple, i'm long google against it. google has had a very nice couple of weeks as well. i think it's technically breaking out and is not yet on my charts whereas apple is at an all-time high, but i think it's also an all-time bought overread. >> you were so right, cortez? did you hold tonto your short position? >> i didn't hold on long enough. i said apple was going to catch google, and, nachin fact, it dir
a short time. i still remain of that view. >> so you got out too early. did you learn anything from that? work me through the psychology of fighting bad moves like that. >> one thing i learned honestly is apple is a very hard stock to trade because of the incredible volatility. this is the biggest cab name and yet it has volatility to anything i touch. i shorted against the spread and it tends to reduce volatility and you can stay in positions longer. my takeaway honestly is apple is hard to trade. >> my next guest says the recent pullback is a buying opportunity. let's trade the apple ecosystem, with tavis mccourt, analyst. >> the stock was down on evil speculators like cortez. >> evil speculators is redundant, remember that. okay. >> but i think in all honesty,
there was some npd retail data that was relatively disappointing on the mac business that came out. but i think that's minutia. we've done this more recently as an iphone story. we think two-thirds of the gross profits comes from the iphone. the mac business is probably down to 12% of gross profits. i wouldn't say minutia, but it's not something investors should focus on in the earning stream. the earning stream will be different by the iphone and we think the iphone continues to do very well. >> where do you think it goes from here? what's your price target? >> we have an $800 price target -- >> $800? >> it's based on a really extreme earnings multiple. >> the market isn't giving 15 times now, why is it going to give it in the future? >> the s&p has expanded largely, we expect that to continue as the iphone momentum continues
and potentially to get into new product markets. >> tavis, how about the fact they really haven't had any penetration in the asian markets to any degree at this point in time. can you address that, and that sort of feeds into your thesis at 15 times, it might not even have to be at 15 times and $800 as far as your target is concerned. >> the magic of apple stock is they're vertically integrated which means they capture a very large margin pool, which means they can make a lot of money without having any units in a given market. they're still at that hand set space globally, still under. as long as it continues to be a better ecosystem than an droid -- an droud phone, that is -- >> is this your best pick or another name out there within the space that could easily make some momentum looks here.
>> i would say my two by-rated stocks were apple and motorola solutions. >> what do you think of apple? >> i like apple. we said apple is going down because of the mac sales. you still see the iphone and the ipad able to offset the sales of mac? >> he's gone. >> i scared him off. anyway, he might be the only one to make money off of it. the s&p is trading four times earnings. they sell at about 5 or 6% of the mobile phone market. i say apple is going to overtake google. >> josh? >> i think the bottom line with
apple has always been, what's your time frame? we won't notice that parabolic move from a few weeks ago. we all said from the beginning, this is getting ahead of itself. it looked like that, and the stock looked good today. so the question is, are you in this for five or seven points, long or short? i don't know what to tell you. are you looking for a company that has a higher quality business than most and competitive advantage and all these things. there's nothing else out there that looks like apple, so if you're somewhat intermediate or longer term oriented, it really doesn't matter whether or not it's up 15 there are in -- $15 in a week. time for pops and drops. pop in walmart. higher by nearly 2%. cortez, trade it? >> michelle, i own walmart. sometimes boring is beautiful. >> mr. cortez i am cutting you off because we have to go to kate kelly at the breaking news
desk. kate? >> i want to update you on something hitting the market. it's a research note from meredith whitney who made her fame citigroup call in 2007 when they were headed for some major losses. in this case she is upgrading citigroup from underperforming to a hold. this is research from yesterday following better than expected earnings from citigroup, but it's just hitting the market now, which is why we're talking about it. we're upgrading citi shares in improving metrics, temper the probability of a significant absolute share price decline. she goes on to say, they beat street expectations in terms of their earnings per share, they were driven by banking. i was taking a look at the comps this morning in which goldman sachs announced. jp morgan actually did a shade better than goldman sachs.
goldman sachs actually shook them on equities. >> you already told us you're in this stock. anybody else expect to get in there? >> the big catalyst here, they lost $137 million based on the stake that they still have in morgan stanley, smith, barney. we know morgan stanley is anxious to finish the transaction and take the whole thing. citigroup finally getting the last of smith barney off their balance sheet and out of the expense column, so i think that might be an interesting thing to watch with this stock. i'm not out of it yet this morning, but i'll poipt that out. >> an ongoing program to generate efficiency savings 3 and 5% across its businesses. we continue to believe that expansion is key for citigroup. that's something to keep in mind. it's been a year's long effort to kind of manage a place that
had expenses. >> mr. baker, what do you think of meredith whitney's notes and citigroup in general. >> you know, i want to stick to an even. stick with the high quality ones. >> so you said they just failed the banking test. we could argue with some of that vernacular, but the fact is, it really does feel like we're getting to a closer dividend. sits that a catalyst. it's still a little shaky right here so i wouldn't take the risk. we're overweight, jp morgan and wells fargo, and as the capital market starts to get better, the goldman sachs and morgan stanleys. >> thanks, guys. we have to break the s&p fresh session high. coming up on the half time
report, we are trading ahead of the results. and we're going to talk to someone investor who said yahoo is better than google. lots more half hour report on the way. how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research providers into a single score that's weighted based on how accurate they've been in the past. i'm howard spielberg of fidelity investments.
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tech earnings trifecta after the bell. they're all out with their numbers. let's take pogsitions, trade th stocks ahead of their results. let's start with ibm. josh? >> there's really nothing not to like here. technically speaking it's a thing of beauty, and from an earnings standpoint, they always find a way to find profits no matter what's working in the world. yeah, i like it and i don't see any reason to be concerned about earnings tonight. >> what do you think? >> just a thing of beauty. >> a thing of beauty on ibm as well? >> i like ibm but i also like computer associates which is like a mini ibm. it pays a 4% dividend, it's got
better operating margins. if ibm does well, own computer associates. >> we have a rally across the board here. you see another $3.50. intel here. pete? >> been in this for a long time, will continue to hold on. this stock was around the 20 or just a little below the 20 level when i got into this. i've been in it for a while. when you look at where this thing trades, and although reported dead, it was not completely dead. it was up 2% in 2012. it's not dead yet in the emerging markets. this is a company that's really reinvented themselves and revolved with the markets, got themselves back in the space. when you look at some of the most recent innovations they put out in the marketplace, it's unbelievable. >> you've got $10 on this stock. how much more? >> 35. >> even if the pc market is
dead, i think intel is doing such smart things in cloud that i think this is going to be one of the emerging winners in cloud. not the sexier name, i think it's going to be intel. i would also point out its non-performance versus the group. i love intel. intel at a six-year high. over the last year, intel is up almost 50%. if you look at the soxx, the industry stf, it has remained unchanged in the last year. >> i agree, and we can't really have this discussion without alluding to qualcomm. this is a name i've been in for a while. i like it for the same reasons that you could say intel is trying really hard to get bigger and wireless. qualcomm is already there. >> they're already there, is that maybe sort of the problem? isn't it that intel, as they get more involved there, they're getting into the server space in a much bigger way. if they get more in the mobile space, couldn't that be a huge catalyst for intel? >> i think intel has not had
tons of success there, bit ut i tablets and general, and obviously what we're talking about with tablets is a low-competition world. but i think both are good. >> let's move on to yahoo. you have to see this. it's valueyahoo.com. it's ahead of the report tonight. it's an amazing site, a big piece of activism from an activist investor. he isn't the only one in favor of joining yahoo's board, though. let's before in another investor. you think he should be on the board as well? >> they should appoint him right now. there's no reason why not. he's the biggest shareholder. he's got 15-plus years track record of quality valuation. he has a bigger stake than icon
did four years ago when they thought they deserved a spot on the board. >> why do you think they won't do it? >> i think it's because thompson is a first-time ceo and he's nervous. but i think as they get closer and close to her the shareholders meeting, which will probably be june or july, they will probably strike a deal and bring him on board. >> what do you think of yahoo as a strike here? >> i love yahoo. it's so overlooked and so hated that some of the parts says it's attractive. i think you own yahoo for the same reason you should have owned aol a couple weeks ago. you sort of get a do-over and there are more catalysts that will come up in the next year. >> you like yahoo and you even like google. justify that. >> actually, i hate google. i think google is a great search
company, but more and more search is shifting to the mobile world from the desktop world. they still make the majority, 80% of revenues, from desktop searches. the pay click was wup in the first quarter but pcps were down. that revenue takes a hit as desktop searches goes away. >> music to your ears. >> it is, and i look at yahoo this way. i think some of the parts are a story that everybody has been talking about forever, quite frankly. i see very limited downside for yahoo right now and always the constant speculation. as far as google is is concerned, did you really refer to it as the microsoft of 1999? >> absolutely. i got a lot of hate from the google lovers yesterday when that piece came out in forbes. if you go back and look, there are a lot of eerie similarities between the two companies. they both had about 30,000 employees, microsoft in '99,
google today. >> mike, it's josh. don't you think that's what android is all about, the fact that they're losing all that search from the desktop and they need an answer? we know they're not making money from android, but isn't that the step? they're building a wireless from scratch and they're taking hold of some categories. >> absolutely, josh, that's why they got into it. they've only made $540 million in revenue in the last five years from it and this is a company that did 10 billion in the last quarter. so the question is, can they turn that revenue on? they've been challenged to show that they can so far. pretty much the only company making money in mobile these days is apple. >> by saying google is the microsoft of 1999, you're saying it's dead money for a decade. >> i hated rim 2.5 years ago and took a lot of arrows in the back
for that one. but i think there is some comparisons here between rim two and a half years ago. look at google's stock price in the last five years. it's not like it's a big secret on wall street. this thing has been flat for five years. >> good point. good to have you on. thanks so much. time for our poll of the day. we want to know, yahoo, on a scott thompson comeback story. log on to cnbc.com so you can vote. we're taking positions ahead of the railroad company's
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for me, it's really about building this extraordinary community. american express is passionate about the same thing. they're one of those partners that i would really rely on whether it's finding new customers, or, a new location for my next restaurant. when we all come together, my restaurants, my partners, and the community amazing things happen. to me, that's the membership effect. time for realtime trade. jim joins us on the fax line. jim, you've got a tax day trade for us. what is it? >> int. there are a couple reasons i
bought it. i wanted to make sure it took out some of the highs from a couple weeks ago. it did and it had some nice momentum. i think probably the focus on this stock has something to do with tax day. that's just the initial push and then momentum kind of takes over. mostly this is a technical trade for me and mostly a short-term trade. however, i wouldn't do that unless i thought it was a decent end, and it seems kind of easier to start selling other products. i got about a 63 target on it. if it traded 56-ish, i would dump it. i'll get up to 63 and re-evaluate there. i'll probably add along the way if i can. >> simon, you're also looking at intuit. >> technically it looks lovely. i think once it breaks 62, it could hit a yearly high.
if it breaks through 62, i'll wait until it gets to 62 and own it until it hits a second year high. josh, i do pay my taxes over here and not in the u.k. h and r block is a little more controversial, a little more volatile. it's got a little more hair on it so i like this stock -- excuse me on the hair. >> what kind of shot is that? >> you reacted to that. basically, it's got a 1% dividend and the thing i like about this stock, there could be an announcement coming out that the company has about 20% stock outstanding. if it breaks through that, i don't know. >> if they ever really simplify the tax code, h & r block would get hammered, but then they're really never going to do that, are they? >> is the oil trade about to change now that the white house is tracking down on speculators. that will do it! we're making a pitstop.
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how math and science kind of makes the world work. in high school, i had a physics teacher by the name of mr. davies. he made physics more than theoretical, he made it real for me. we built a guitar, we did things with electronics and mother boards. that's where the interest in engineering came from. so now, as an engineer, i have a career that speaks to that passion. thank you, mr. davies.
led by hewlett-packard, coke with their earnings up and caterpillar. gains of more than 2% across the board, hewlett-packard higher by more than 3% as we look at that trifecta. >> look at caterpillar, that's a name that sticks out. bounces nicely from that 101 to 108. president obama is proposing new measures to limit speculation in the oil markets. will this help to bring town gas prices? cnbc contribute tore d brks krb here with his opinion. you are robbing the american public with your actions, mr. dig ger. what do you say? >> i have no idea what you just said. michelle, look, my position on this is well known, and i know it's opposite of yours, or at
least i can feel that. the oil market is overrun with speculation, for lack of a better phrase, it really isn't -- the one word i think i would have problem with the president is manipulation. that i don't think there's much of going on in this market. what this is is investment and indexes and etfs and hedge funds. there is trade coming from the investment banks, coming from the industrial and also retail trade that they are making money on, and of course there is investment in private firms like glencorps and the others, all of this is driving the price higher. >> all of that may be true, but that's not the spirit of what the president is saying. he's not talking about pension funds trying to help out all the retirees, he's not talking about long-term investors, he's talking about you guys in the pits who are manipulating the market. >> again, i don't think he's actually talking about us in the pits, because as you well know, the guys in the pits have such a tiny influence in the oil market. what he's trying to get at is some of the stronger investment
bank investment into the oil market. remember, it's a -- >> he's talking about fraud. is that where you're saying the fraud is? >> the dj has a lousy record on fraud. we're still waiting for rulings from them. i mean, i don't think -- if you want to get to the bottom line on this, and i think you do, is that none of this really goes anywhere. he's asked congress for help in all of this and he's not going to get it. margins are a lousy way to get at the real speculation in the market. >> don, sorry to cut you off. i'm just curious because you seem to be one of the most vocal people on how much of an impact speculation has, even the good kind of speculation that facilitates global trade. if you had to put a number on how many dollars in the price of crude oil makes up -- is made up by speculation, if you had to guess, what would you say? >> look, i'm asked this question all the time and it's very difficult for me to say, but we do have one case in point. that case in point was in the
deleveraging that happened after the financial crisis of 2008. in that deleveraging we saw all the speculation leave the market. we got down to a 2.7 price. do i think that's the amount of speculation in there at this point? no, i don't. but it is an enormous amount. i believe it's 30 to $40 a barrel. >> we got down to $32 because that was before the fed embarked on this very ill-advised massive campaign of quantitative easing. the fed is the reason oil is triple digits right now because of their weak dollar policy and weak inflationary tactics. if you want a boogieman, it is not wall street, it's not me, it's not you, it is ben bernanke. >> i think this is a strong argument and i've heard that before. again, to relitigate the speculation case here, when i spend three years and 336 pages
trying to describe it in a book i think it's a mistake, but there's no question some easy money has a lot to do with the inflation and oil prices all across the board in the last three years. >> dan, thank you so much. we have to get to john ford who has breaking news. >> we're here outside the federal courthouse in san francisco. this is the google and/ oracle trial where google claimed oracle used a license where it shouldn't have inside android. they played a part of the deposition of larry page by david boyes. that was riveting in the sense that boyes was making the point that andy rubin had googled other executives where would you be -- rubin's team says we must need a license. well, they're on the stand explaining his understanding of
java and that people do, indeed, need a license to use certain parts of java. in this case if you're going to write your own version, as google did, you need to get a license and buy a test kit to make sure that stays compatible. the case that, yes, indeed, google did need a license and that he was wrong in the part of the deposition that they showed. but, of course, google will argue the other side when they cross-examine allison. back to you. >> john, we're looking at oracle at intra-session highs. how do you trade oracle? >> i think that's kind of an ancillary thing, and i think the real story with oracle is this is a winning company when it comes to earnings reports. go back and look at the history as this company lays out what they think they'll do and exceeds it. they're very good at this game. it's tough to want to be on the other side of that trade going into report night. >> coming up on the half time
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doomsayers. find out what the play sat the top of the hour. i'll see you then. now back to michelle and "fast half." apple above $600, 602. higher by $22. aren't you glad, pete, you bought it yesterday? >> yes. very lucky. although this morning i didn't feel very lucky when it was trading at closer to 570 but i do like the move. the stock volume is on fire. already a full day's volume completed trade, and if i look at the options, they're on fire as well. people expecting this bump to continue. >> you got in at 589 to 602. whether you getting out? >> i'm wanot getting out. you brought up intuit earlier. i believe in this. >> time for "money in motion." the euro rallying after better
than expected bonds. thursday's long-term bond carries a lot more weight. let's bring in andy to make dollars and cents of it. forget today's auction. why is it bigger and better? >> i think it makes risks for spain. the maturity shows that's where the volatility is, really. it's brought yields of 585 to 618. to me that's more important. we'll see what the market takes down. >> this whole situation with spain has pushed the euro around tremendously. we went below a buck 30 to above a buck 31. what's the trade on that in the wake of the spanish bond market? >> i want to take a look at an event happening tomorrow. we have stuff in the u.k. i'm concerned about what's happening in spain. not everything is great there, there's still some pain to come. i want to look at the u.k. we want to let the market tell us what it wants to do and how it's reacting to these numbers.
we've got the bank of england minutes, we've got u.k. claim account for jobless claims, obviously, and the iao unemployment numbers. if any of these come out more d doggish, i would expect the british pound to weaken. we're at a great level. i have a good stop at 1.6025, just above the recent highs. but if the market shows me we have extra data and the pound softens, i really want to sell it. 151 and a half is where i've got it and take profit down to 150. >> anything else to watch, andy? >> the euro is just sitting there in a big risk-on day. that tells me there's some weakness there. i'm looking to continue to sell that thing. i think it broke ahead in shoulders and i'm looking for more down side on it. >> to where, do you think? >> i think we can get to 27 and a half. there's a lot of demand for
euros below 130 right now that keeps holding it um. >> it will be a big move. thank you, andy. for more currency trades watch "money in motion" right here on, what would you rather own than a share of apple? jane wells, what's coming up? >> michelle, a week ago everybody would have said a share of apple. today even as apple comes back some people tell us they'd raeter own something else and they'd like it right now. we'll have that after the break.
how many ounces in a cup? >> this might answer your question. >> i knew that. remind me in an hour to put the guspacco on ice. >> here's your reminder. should i create? >> yeah. unless you like it hot. >> siri? >> sam. >> you can take the night off. >> very cute. a sneak peek at apple's new ad campaign featuring zoey deshenel and samuel jackson playing with siri. jane wells is asking folks which of the following they would rather own. an ipad. one share of apple. one-third of an ounce of gold. or $600 in cash. jane? >> michelle, which one would you rather have? >> i would rather have the cash. >> you're not alone. you know, apple has fallen from the tree of record share price. but most people we asked said
they'd still rather have shares in other things. other people have more immediate needs. like replace the mac they threw against the wall in a fit of rage. listen. if you could choose, all worth about $600. ipad. a share of apple stock. not real. symbolizes it. $600 in cash. and a third of that ounce of gold, approximately. a little more than a third. what would you choose? >> cash. >> you would choose this? >> yeah. >> why? >> i could buy any of those other things if i decided. >> third of gold. >> why? where do you think gold is going? >> 3,000. >> you'd rather have gold than share of apple stock? >> i don't think apple is going to go up as much. >> you can't have any of them. letting you know. >> is that a cougar? >> american eagle. gold eagle. >> i had my first apple mcen tosh that was a tiny box in 1982 i believe it came out. >> you'd rather have the ipad than the share? >> yeah. i enjoy the technology. >> i was having a bad day.
my computer froze. so in a rage i drew it against the wall and my mac completely broke. the ipad. >> you need an ipad immediately? >> yes. ipad. definitely. >> sorry. you can't have that one. that's mine. >> really? >> yeah. >> reporter: she wasn't pleased because i didn't fully explain to her ahead of time that this wasn't an actual giveaway. michelle, i was surprised that only one guy picked gold. the kcanadian tourist. the only guy who picked gold. >> i'm surprised by that, too. you didn't give her the ipad? >> no. that's mine. i forgot to say, this isn't real. she was very bummed. >> all right. thank you, jane. great stuff. coming up, some final trades from the half-time team. right after this. ♪ ( whirring and crackling sounds )
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drug maker lumina reaching a new chapter. kayla tausche. >> that was a big win against the board nominees by roche going into tomorrow's meeting. illumina going on the offense with various shareholder meetings planned following the agm. people familiar with the matter tell me illumina has asked jpmorgan analyst to host a dinner for long-term shareholders tomorrow night. peterson has thighest target for illumina on the street even though his 70 buck target was initiated back in january. still higher than the average by 14 bucks. thursday a broader lunch to include hedge funds is also on the docket. that's set to take place at jpmorgan hq. investors are taking it as a sign illumina is taking offense. some investors are taking a b