admirable job given the analyst concerns. >> as a matter of fact, they have vowed to fight back against the allegation by muddy waters they were a quote/unquote fraud. keep in mind muddy waters is an aggressive short sellings house. nq mobile is behind me right there and trading it. that does it for us on "power lunch." ty. >> have a great weekend, everybody. "street signs" begins right now. very special show ahead. ♪ come sail away come sail away come sail away with me ♪ >> the oil and gas boom in north dakota and texas not just benefiting the midwest. it's also adding jobs right here in philadelphia. and you will not believe where we are. we're in the philadelphia shipyard and we are right now on top of goliath. we are more than 200 feet, hello airplane, 200 feet in the air, get a shot of this. that is the liberty bay. we are high up here, folks. the reason that we're showing you this is that ship and these

jobs, direct beneficiaries of the shale gas boom. because this shipyard is a contract to build six oil tankers. this one more than 800 feet long and can hold nearly 800,000 barrels of oil. it's being built here in philadelphia. it's going to be floated next week and going to be put into service taking crude oil from alaska down the united states west coast. more than 1,000 women and men working here at the philadelphia shipyard. as soon as she's done you will get some -- if we can get a shot of the next ship. see the hull bits going in. they're going to put it together like a giant puzzle. these are highly skilled women and men. these are good jobs. and the oil and gas boom benefiting philadelphia. you also cannot be afraid of heights in this job because gary and jeff who run this crane come up here every single day. wow. what a look. you don't get a view of the liberty bay or other ships like that often. hope you enjoyed this look at the philadelphia shipyard. i'm brian sullivan way up high

above the delaware river in philadelphia. >> hi, brian. hello, everybody. i was going to say to you, brian, so glad it's you and not me because i have an absolutely morbid fear of heights. it's a really mind-blowing view. we will get back to brian in a second. check out the markets and see what they are up to. i'm going to start small and work my way up. i'm going to start with what is going on with the little guys and the little gals. the record-breaking russell 2,000 on pace now for eight weeks of gains. in fact, it is the best weekly winning streak in ten years with a gain of 11% which makes 32% so far this year. also better than expected numbers from microsoft, pushing the techs up and keeping the nasdaq at its highest in 13 years. up just by 8 points there but nonetheless at a 13-year high. and the s&p 500, here sitting at 1755 which means it could finish at another all-time closing high with the yearly gain just shy of 2009's 23.5% gain. so a bigger gain than that this year would be the s&p's largest

in a decade, folks. we've filled your brain with all those market stats. back to brian at the shipyard in philly to fill your brain with tanker stats, right? >> it's been a heck of a morning, mandy. i mean this ship is spectacular. the guys and people here, have been so gracious to us. and it's such a feel-good story. let's briefly connect the dots before we speaks to the ceo of the acres philadelphia shipyard because here's our thinking and being here. it's part of the oil and gas boom story. we really haven't heard a lot about, which is this. oil and gas boom driving demand for more oil and also more oil transportation. under the jones act law, anything transported basically within the united states territories has to be on an american flagged and an american built ship. the aker shipyard got orders for six massive tankers and thus, that's helped employment more than double, nearly triple since the downturn just a couple of years ago. there were more than 1,000 workers here at the shipyard and

we welcome in the ceo christian roque ki. thank you so much for having cnbc. this has been amazing. helps us again connect the dots between where we were earlier in the week, texas and north dakota, talking about the shale gas boom and putting women and men to work here in the shipyard. >> it's a game changer for our industry. the increase in shale oil in the united states has increased dramatically and ships have played an increasing important role to move that oil to refineries along our nation's coast. ships provide cost effective and environmental friendly safe and flexible way to move that oil and part of the reason we've seen demands for these ships increase in recent years. >> it was tough times for a couple years, in a lot of places in america. you had to have layoffs. your employment is nearly or tripled since the downturn. >> from around 330 people in 2011 and just over 1,000 people now. >> and this ship here about $200 million. >> well, we might be able to do something on that, but that's -- >> you're going to give us a deal. >>s. >> since you're here at the

shipyard, if you buy a couple. >> talk to cnbc about that. >> market price around there right now. >> for a subsidiary of exxon mobil. they got another one which is interesting for me to see how you build them, you basically put a huge puzzle together and then there's four more. >> correct. >> the jobs here now, how long will they last? >> we have a secured order backlog out q3 2016 but we're working hard to make that further out 2017 and 2018. i wouldn't be surprised if we don't have a backlog out to 2016 over the next year or 2018, sorry. >> that's good news. five years out. what are some of your concerns as a ceo running a shipyard in america now. >> number one, in terms for the industry we've spent a lot of time making sure we can deliver on our commitments to customers, deliver safely number one, on time, below budget. something we work hard to do to gain confidence in our customers and continue to do that and have a long backlog now which provides well for us. >> at aker this is an american story, it is. >> american workers. >> much of the steel used in that ship coming from american

steel mills. >> 30 minutes away from philadelphia we buy most of our steel. christian, thank you so much. we'll spend the whole hour here and go all over this thing. >> great to have you here. >> thanks for letting me take the coveralls off. >> you did look good in them. >> i'm not sure about that. >> jim cramer has joined you on set. he is philadelphia's native son. jim, it's so cool to be here to tell this story. you know, we go out west and talk about it. everybody knows jobs are being helped in your hometown because of what's happening out in north dakota and texas. >> it's so exciting. i remember when i was growing up as a boy we would go there to see the navy ships be built. it was probably the premier shipyard for the navy in this country. baltimore had built ships, philadelphia built ships. these were great skillset jobs because they required welders, blue collar jobs that required skills. amazing story brian. love to know whether once you can fly that american flag, will they start taking that oil like

they did after hurricane sandy, from louisiana around florida, to the refineries in the northeast? because right now they just send it to mexico. >> yeah. it's the jones act, right, the transportation within the united states, and i think you heard what christian said. listen from a stock perspective, jim, the rails have done great the last couple weeks. we're talking about getting steel from 30 minutes away, u.s. steel, one of the providers of the steel here. there's the big x right in the stock market. so this is a play. i haven't had time to dig through the ship but i guarantee you, there are tens if not hundreds of major corporations, many public, that are represented in the ship behind us. >> you know what's incredible at this, we are all talking, why you and i talk about it, coming together trying to get the politicians to win us back. here's a republican governor, governor corbett, they decided to put this money out. the multiplier effect of this is incredible. but it's fossil fuels. this is not one of those things that would necessarily pass

muster in a politically correct washington. can you speaks to the idea it was government that got this thing going? >> yeah. i mean listen, you're going to have part of that. we talk about the jones act. the sort of obscure law only now getting attention about the need to build american if you're going to haul and transport on american coasts and do american territories. i don't think anybody is trying to be protectionists but mandy and i have talked about this i've been a proponent, we have a decision to make in this country, right. we can go into a culture of cheap where all we want to do is buy the least expensive of everything and then put our neighbor out of work in the process which is going to cost us by the way more in the back end or we can make a decision as a country, that we will build things here and do things here that maybe aren't the cheapest option. but guess what? what's cheap about seeing your neighbor lose his or her job. >> you need to be a conscientious buyer. i want to ask you camer in terms of the potential investment

opportunities, there are a lot of companies that have been employed as a result of this boom in the shipyard and elsewhere for the railcars, et cetera. what do you see as the inve investable strategy? >> interest rates down means we ought to be looking at mark west, mwe, because that is a great transporter of oil and gas from utica and mar say less and capital oil and gas reported a number today, they're marcellus and it was spectacular, tremendous growth. talk about biotech growth. those are two. >> fantastic. jim always great to see you. >> guys? >> yeah, brian. >> i was going to say, i don't know if you heard mandy and jim, christian here made us a deal. if which buy more than one of these puppies they might give us a discount. i'm thinking the ss street signs and ss mad money. >> we'll get $185 million instead of $200 million. i call that a bargain. >> party ships. >> cut a deal. >> pocket change for you. >> yeah. the ss street signs coming our way. thanks very much. we'll get back to you, brian, a whole lot more from brian in

philly in a second. jim, thank you as well. >> thank you, guys. >> the mortgage backed monster could be rearing its ugly head all over again. just wait until you see how investors are once again using housing as collateral and sure seems like the bulls are not afraid of anything these days. kind of like this guy here. but we have three big red flags that every bull does need to watch out for. do not go away. ♪ [ laughter ] ♪ [ female announcer ] each one of us is our own boss. ♪ and no matter where you are in life, ask your financial professional how lincoln financial can help you take charge of your future.

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mattress price wars are on now at sleep train. ♪ your ticket to a better night's sleep ♪ the bulls are taking charge on wall street, this guy took charge in romania. looking at a video of a 600 pound bull that somehow broke free and ran about town. he was eventually captured. police are saying they are looking into who exactly is responsible for the bull's escape. this video got us thinking about the market and how scary bull runs can be. someone always gets hurt. dominic chu red flags and i brought out the red flag dress myself for the event. >> right. there you go. you're dressed, the red flags waving for bulls. we wanted to take a look at some of the red flags that market experts are looking at for reasons the market might be due for a pullback. one of them certainly is tech stocks and how they've performed

like f 5, see man tech, ibm, big blue, have shown some negative reactions following earnings reports. outlooks have a good amount to do with that. tech stock outlook may be a warning sign for the market. another big one from the charts, the technical side. carter worth at oppenheimer says there are fewer s&p 500 companies that are trading above their 150 day moving average. that's their medium term batting average if you will. even as we hit record highs, fewer stocks are trading above their average marks. that's something to watch as well. also, number three, china. there's concerns there that the chinese stock market has been on a steady kind of drift up and down but downtrending throughout the course of the year. that might be a cause for some investors. the emerging markets especially china have been huge powerhouses. more of these warning signs on cnbc.com. go there and we have a lot more about what exactly the market is looking at for reasons why we could see a correction. >> dom, come sit down here with me. it really seems like the old

school tech is shrugging off the red flags today. just today. amazon and microsoft reporting their earnings. mr. softy beating eps, amazon beating on revenue and both stocks getting a really nice definitely not red bounce. the tech sector itself is the second best performer this month as the nasdaq is hitting a 13-year high. so let's bring in cnbc contributor dan greenhouse, always a little skeptic. dan what do you make of this? the resurgence of the old-school tech? >> yeah. i mean listen for the day at least microsoft matters considerably. it's the third largest stock in the sector and the fact it is up as much as it is is having an affect on the sector. admittedly what's driven the sector has been apple which full disclosure a buy rating on the stock has recovered from its lows an taken the sector higher. even -- but admittedly worth pointing out while we mentioned dom points out the tech sectors are red, it's still underperforming the s&p 500 on a

year-to-date basis. >> in other words, where does it go? >> we still like the sector for a number of reasons and yes ibm was not the best report and for the year ibm's a big drag on the sector. there are a number of other companies in there and sectors, particularly the semis, that have done very well year to date and have been done very well more recently. >> now -- >> dan, brian sullivan. listen, microsoft in my opinion is one of the most misunderstood companies in the market and i'll tell you why. we focus on the surface, on the phones, we focus on zune, we focus on the stuff that the media and blogs talk about while quietly if you dig into microsoft's income statement, their enterprise revenue their data base work has soared. they have actually grown revenues dramatically over the last five years. it's just not the sexy stuff we talk about. >> well, listen, i don't follow microsoft and neither does btig. i'm not going to talk about the spikes. the company is a cash machine

that generates free cash flow and free cash. that's incredibly positive over time. it may not be the best thing for the stock price as you talk about, but again if you look at the report, you don't need my opinion, just look at the way the market in general is reacting to it. obviously they're doing something right. >> it's interesting one of the things we've talked about conventional wisdom wise, the tech and financials are the two sectors that lead the advance or decline. i guess the question for dan even here, is as you sit there and see the market as it's developing, the tech sectors has been an underperformer, is there a catalyst that would in your mind move this market higher, coming from the tech sector? what would you like to see out of that? >> the short answer is, of course, some reversal at ibm that's been a big drag of late. what's compensated for that, of course, is the reversal in apple and the earnings report from google which is an incredible support mechanism for the tech sector more generally. i think taking your question just a step back here and being more general about what's the next thrust higher, when i meet

with clients, which obviously i do every day, there's a growing sense of throwing recklessness and abandon to -- people don't really understand what's going to hold us back as the year progresses. i largely agree with that. we have a 1750 price target. we're basically for lack of a better word neutral right now. i think the buy remains to the upside. the issue what's the catalyst other than just a simple grind higher. to your question, i'm not really sure as we finish earnings season what that catalyst is going to be. >> we're going to wait and see. thank you for joining us. dom, thank you as well. brian, we'll get back out to you in a second. #show me the money. we now know twitter's valuation is around $11 billion. the big question is, is it worth that much or maybe it is worth more? julia boar stin breaks down what auto investors are evaluating ahead of twitter's first day of trade. >> twitter's potential valuation of $11 billion is taking a lot of investors by surprise.

considering recent secondary market trading valued the company well north of $15 billion. so why the lower price tag? now it depends on whether you value company based on its past performance or on its future potential. that valuation is right on target if using an average of facebook linkedin and yelp trailing at 12-month revenue mu mult. s. if twitter based on these three company multiples, then twitter would be worth more like 13 or $14 billion. now fast growing companies are generally value based on growth projections so twitter is clearly trying to play it safe and avoid dropping out of the gate like facebook did. but if there is interest, we could certainly see twitter boost its price by a few dollars before it starts trading. back over to you. >> julia boarstin, thank you very much. still ahead the earnings squad is taking over with three big names to watch for next week. wall street's newest housing

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welcome to the earnings stories. we dissect the stories everyone is talking about and trade the stories you may have missed. joining me dominic chu and jackie deangelis. let's start off with biogen, post third quarter earnings before the bell on monday and a couple frap cheeses in the biogen's drug portfolio a lot of investors are paying attention to. first the ms franchise, multiple sclerosis and hemophilia franchise. credit suisse this month raised the price target on them citing specifically a survey that says that there's significant interest on the part of patients as well as physicians in the hemo feel ya drug.

the ms drug is another one it's an oral drug for ms. >> just gotten eu approval. deutsch bank had positive comments this past week about what that means for the company. biogen about drugs in the future pipeline and this could be a big one. >> the thing to keep in mind with biogen and other ones these are monster performers for the year. biogen up 70% and that's leading the ivb the index that tracks bioteches. that's up 53%. whenever you see the markets fluctuate up or down, biogen and bioteches tend to exaggerate those moves. more sharply up or more sharply down. that is a danger with these. apple, can't forget about that one. earnings after the bell on monday. >> i mean with apple you can talk about the headline earnings and sales numbers all you want but this is a company that traditionally beats earnings and sales. last few quarters a little iffy. forget about that, beyond those headlines typically companies like to announce things like

dividend policy or buyback policy in conjunction with these particular announcements so a lot of investors waiting to see whether carl icahn has influenced maybe a little bit about how they're going to conduct their dividend policy or buybacks going forward. >> i'll be waiting to see if tim cook calls carl icahn like he said he would after the earnings come out. >> that's going to be a huge one for sure. >> also will going into the earnings report a lot of analysts have been bullish on the stock upgrading the stock or raising the expectations. it's not like the bar is low for apple going into the quarter and week to date month to date, apple has been a very strong performer. has it run up in advance of the news? will it be a sell the news sort of event monday? those are big questions. talk about seagate, trading up more than 60% this year the company expected to release earnings after the bell on monday and we got a read already. >> western dinl report as you said not so great. the bar isn't high for seagate. investors looking for 1.30 share on revenue of $3.55 billion,

down 10% and 5% respectively. the big thing here as you mentioned this morning is margin. they want to see the shift from these lower margin products for pcs to the higher margin cloud products and also products for tablets will be important as well. they are also saying investors there's speculation they might acquire fusion io and could help them with that are architecture design. the guidance will be key here. western dig came out weak on guidance. we will look more for this company. >> that does it for earnings squad. tweet us at #ooerngs earningssquad. i'll see you tonight on fast. back to you. >> thanks very much. still ahead on "street signs," solo wars and flying cars, we're aiming for the sky on the outside of this break. plus -- >> mandy, i always thought you and i were anchors. guess what, we're not. that is an anchor. coming up, america's power play on "street signs" returns, we'll take you inside, outside and and

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we have breaking news relating to the shutdown. to hampton pearson in washington. >> mandy, the u.s. department of labor is saying in no uncertain terms it believes federal furloughed workers are not eligible to collect unemployment benefits. guidance just issued reads in part because congress provided for full retroactive pay for furloughed federal employees and the office of personnel and management declassified all furloughed employees as having been in pay status throughout the shutdown the department believes that these employees were not unemployed and thus ineligible for unemployment benefits and its guidance to the state work force agencies is, it's up to the states to recoup any unemployment benefits that may have been distributed. no double dipping for furloughed federal workers who may have gotten both their unemployment benefits and now back pay. back to you. >> no double dipping. thank you very much, hampton pearson for the breaking news. to street talk. a bit of a lonely street talk here by myself, because brian is

out in philadelphia in the shipyard. want to kick it off with one of brian's picks anyway. cliffs natural resources. it is down about 35% year to date. but this is the really important point. it is up 41% since the stock dropped in april. which means brian is very much in the money. the stock is moving higher today. despite reporting earnings and revenue that missed estimates. the mining company did note improved iron ore prices which could be purring the stock price higher. western digital, jackie deangelis mentioned they beat estimates, fiscal q1 profit of 12 per share -- sorry 2.12 per share. the company cites better profit margins during the quarter and up 72% year to date. lots of good news out of deckers outdoors. they also reported earnings of revenue that exceeded prior forecasts, foot wear maker

provided an outlook for the fum year, up 67% year to date and i believe they have nice fashionable uggs that have come out but they are not cheap. education, seeing a nice upgrade to new federal from jpmorgan with a target increase to 36 bucks from 18 bucks and that stock is up 133% year to date. another stock doing very, very well recently is dupont. it's hitting an all-time high after the industrial conglomerate announced plans to spin off its chemical business. the ceo explained that move to jim cramer last night. let's take a listen. >> this is the next advancement in our transformation. i think it's the right thing to do for our company. it's going to create two strong companies. i'm out with investors all the time and they have ideas about what we do well and where we could improve. i'm sure there's several of them over the next few weeks will say this was their idea. >> is now a time to buy? start talking numbers on the

technical side jc o'hara, chief market technician at fbn securities fundamental side frank mitch, covers dupont for wells fargo securities. great to have you with us. this is kind of a long time coming and i think the street was wanting this to happen. frank, do you believe the spinoff is good news for dupont investors and even though the stock has done well at an all-time high is it still a buy? >> good afternoon, mandy. i would say what's interesting about dupont from a fundamental perspective is the numbers really haven't changed all that much. year to date, really consensus numbers have stayed the same. this move that was forecasted actually several months ago by ceo coleman was not unexpected. it's been openly talked about. and so really from that perspective, not that big of a surprise. as i see the stock again, the numbers haven't really changed that much but yet the stock has been an upside surprise up by 35% year to date. it's hard to make the case that right now, the stock is not

fairly valued and another leg up from here. >> in other words, it feels like maybe this news was already factored into the share price and got us to where we are right now. in erms it of the charts then, j, kr, what do the technicals tell us? >> i like this chart and several reasons across several different time frames. let's jump into the chart and tell you why. the first pattern i think is bullish is a symmetrical triangle which we saw drawn out from 2010 to 2013. it broke higher. what triangle is a series of lower highs and higher lows. like a spring compressing. it broke fast and furious, ran up to $57. when it hit 57, it took a step back, and then it ripped through again. and what was very important about that level, was not only was it the 2011 high, it was the high of the last 12 years. we're breaking out of a 12-year trading range. that is bullish in the land of technicals. lastly, over the last few months we've kind of consolidated between 60 as a top and 55 as a floor.

just yesterday we broke out so this is a chart that constantly is breaking higher. i like it for many reasons and i like it right here. >> okay. sounds like the technicals are pointing to a buy. thank you to both of you for making your case. check out the on-line edition of talking numbers as well. coming up next, though, on this sunshiny day, a fiery debate over solar stocks. should you be jumping in or just going to get burned? plus -- >> it's not just the ship builders that get stuff done. it's guys like gary working up top. 200 plus feet in the air on goliath. a gigantic crane. street signs always takes you to new heights. back right after this. tdd#: 1-800-345-2550 trading inspires your life. tdd#: 1-800-345-2550 life inspires your trading. tdd#: 1-800-345-2550 where others see fads... tdd#: 1-800-345-2550 ...you see opportunities. tdd#: 1-800-345-2550 at schwab, we're here to help

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and go. you can even take a full-size or above, and still pay the mid-size price. (aaron) purrrfect. (vo) meee-ow, business pro. meee-ow. go national. go like a pro. welcome back. here's how to build a giant oil tanker in 30 seconds or less. you got steel from american steel mills, 30 miles away as you heard the ceo say. pull back, these are parts of the hull of the ship. they're going to be welded together. the deck has partly been constructed over there and then you get the finished product, of course, which is welded together all soldered up, painted, looks

beautiful. the liberty bay, the next ship ready to go, floats on friday. it would be cool to here to watch. i think they will fill that with water and it's going to float out. fire up the engines and sail that baby to alaska. ship building 101 on "street signs," the educational part of the program. >> that didn't take long to build, 30 seconds flat. wonder if they still crack the champagne on the side. maybe we can do a "street signs." >> they do, i asked them. >> all right. >> absolutely. yeah. i asked them that. i want to be here for it. >> it has to be some american made champagne, though, if there is such a thing. we're going to get back to brian in a second. a sunshine day here at cnbc headquarters. is it too bright or just right? we have a solar stock debate coming your way. ben keller, senior analyst at robert w. bare says buy, but gordon johnson at axy um says get in the shade and quick. great to have you with us. start with you gordon, you've been on "street signs" a few times and you have issued some harsh warnings about this solar sector. and yet when you look at some of

the performances right, first solar up 72% year to date, the underdog, i mean some of the chinese solar companies are up 400 to 600%, so are you wrong or is this going to end really badly? >> i think it's going to end badly and i think what's happened is, effectively a lot of solar companies have shifted the way they account for revenues. i think specifically, a lot of the reason first solar is up because the chinese stocks are rallying because what they're doing now is building projects in china funded by the chinese banks and selling modules into projects which they own. so when you do that, you effectively recognize an asp that is goal seed. once the chinese companies won't be able to offload the products the stock will trade down. >> how do you respond to that, ben? i understand you're a bit more sang wynn on the sector. >> i think everybody thought this was going to be a terrible year, one of the worst years. it's been a very good year.

we've seen demand coming across the board from all different regions, exceeding everyone's targets and probably ending the year above even targets we have now. looking ahead to 2014, i expect the same. new markets are opening as costs continue to come down, so i think for the foreseeable future, not that there won't be bumps in the road, but it's going to be a very strong market. >> some of the issues that plagued the sector in the past like a supply glut, do you think they've been worked out? >> you know, it has worked out a couple different ways. i use rationalization loosely. there have been companies that have shut their doors. companies that have curtailed their production capacity and then companies that developers won't buy from anymore including some of the chinese companies as mentioned before as they've become overlevered there's counter party risk. why would i buy from them. i want to buy from stable companies with good balance sheets. >> we'll get your investment strategy in a second. back to you gordon, do you want to address any of these points that ben has made?

>> i think that a lot of the points made i just disagree with. the reason the stocks are strong again is because of this aggressive cannoting. if you look at demand and evidence by pricing -- >> when you say aggressive do you mean dodgey or wrong accounting? >> extremely dodgey. when selling modules to yourself. the example of sun tech and gfs when sun tech started doing this the stock doubled and eventually went bankrupt. the point, though, going back to the demand question is, prices are near cash costs. companies are losing money. solar companies are losing money. the idea that this has been a great year just because the stocks are up does mot mean fundamentals are improving. i disagree and prices have not been up this year. i disagree supply and demand is back in balance. >> ben, do you think people should be investing in this space. >> i don't think we can blanket all as losing money. into next year as well. the accounting topics that

gordon focused on he had a great call on gfs and sun tech in the past. that's probably a bad analogy to compare first solar and sun power with that. i'm a neutral on first solar. i think they have issues. sun power accounting issues i don't think is accounting for the strength in the stock or business. >> you have an outperform on sun power and neutral on solar city and first solar. we've presented both sides and all the information. we'll let our viewers and listeners make up their minds. ben and gordon thank you for joining us. >> thanks for having us. >> still ahead, more signs of tiny little bubbles bursting. one of the biggest companies in the world, a step away from going bankrupt. we're going to reveal which company it is. plus, the newest way that housing has been used as wall street collateral. michael jordan's suge mansion is hitting the auction block. we'll take you inside. tyler mathisen what is coming up? >> short sellers starting to target the hottest tech stocks. we'll run through the names and

find out whether the party is over for some of those techies. also, thousands of pets have either died or gotten sick after eating treats made in china. now the fda is proposing new safety rules for animal food. find out if those rules go far enough. we'll hear from somebody who says shockingly, d.c. is destroying, yes destroying, the nation's economy. all that and more ahead on "closing bell." clients are always learning more

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brian has been talking about america's natural gas boom. word coming in that one of the biggest nat gas companies is in danger of going boast. michele caruso cabrera is here. >> it used to be one of the biggest nat gas companies in the world, but now it's rapidly approaching possibly the valuation of zerop. we are talking about ogx out of brazil. founded by the very famous ike batista who told the world he would be richer than carlos slim just last year. just about a year ago in march of 2012, he was still worth 34

billion. his stock has gotten hammered, his bonds are trading somewhere between 7 and 12 cents because the man who said he was going to drill more oil than saudi arabia isn't drilling any right now. most of the fields that he's had off the coast of the -- of brazil he's abandoned. he's got one left. and he's trying to get it hooked up right now desperately to see if any oil or enough commercially viable oil will come out of it. here's the situation. almost 30 days ago, he missed a bond payment, $45 million, on a bond issued just last year. that's how fast this fall has come. we are approaching the 30-day mark. his grace period would expire. the bond holders would be able to call or accelerate the process that's what's pushing the bankruptcy at this point. it could happen any day now. mandy, back to you. >> it is a shattering fall from grace to 0. thank you for the latest on that. blackstone is raising eyebrows issuing bonds backed by

rental homes. let's get to diana olick. i hope this is -- i don't know, case of feels like a case of deja vu all i'm going to say. >> yeah. i call it back to the future, mandy. it's a clever new investment product that's ironically modeled on a product that caused much of the financial crisis. not a new mortgage backed security but a rental backed security. investors have poured over $20 billion into foreclosed properties over the last three years. they've rehabbed them to rent, but now they want more. that is, more cash to invest more. the biggest player, blackstone is about to offer bonds backed by the rents of its homes. call them rental backed securities. it's a $500 million deal that sources say could happen as early as next week. the details are still sketchy but they will be sliced and diced like mbs. sources say there will be one triple a rated but the ratings disasters of the financial crisis, investors we spoke to

said the ratings don't really matter. >> it won't come into play whether we participate from a credit perspective. certainly we will listen to their opinion, more information is better than less, but at the end of the day we'll judge the investment on its own merits. if it didn't come with a rating, the only difference would be in terms of the price, or, let's say, the yield we would require. >> now, investors will be asking their own questions, such as where are all these properties located? what are the jobs pictures in these markets? what's the local housing market like? they want to know for sure that the tenants in these rental properties will be able to keep paying the rent. they want to make sure investors who own these homes can continue to re-rent the home in order to keep the revenue flowing. lot more online realtycheck.com. >> thank you for that, diana olick. back down to philadelphia and back to brian with his final thoughts on his road trip. i hope you're still lucid up

there. i'm sure you're lightheaded being up high where the air is thin. again, i'm glad it's you and not me. >> a lot of people say the air is thin in my head anyway, but that's a different problem. let's wrap up our week talking about america's power play. that has to be the greatest wealth destruction, man-made in human kind. a lot came from huberus. the boom in north dakota, texas, oil, gas, shale boom, whatever you want to call it the roop risk to the boom is probably the boom itself. what i mean is if oil prices fall, the boom will end suddenly and painfully. and so in our rush to drill more, we are going to, perhaps, raise, of course, inventories, which would then drop prices down. i think that if i learned anything in the travels this week, it's that everybody's getting a piece of it, which is great. it's providing a lot of good paying jobs there and here. we need to balance that out

because if we overdrill and if we oversupply the world with oil, the united states with gas or oil, prices will fall, which will make a lot of those wels uneconomic. it's a boom to bust cycle. we've seen it in the '80s in texas. hopefully this time everybody will be a little smarter. i will wrap it up by saying, it's different this time because of the drilling technology. very few bad or dry wells are being drilled. you can never counter human kind's propensity to perpetuate its own profit motive. nice way to say greed. that's all. >> point is very well made. let's hope we learn from history and the boom continues. brian, you've done a fantastic job. thank you very much. we'll see you in the studio on monday afternoon. still ahead, flying -- the three

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michael jordan's mansion is going up for auction. robert frank has an inside look. >> don't have to go beyond the gates to know which famous athlete lived in this mansion. chicago bulls legend michael jordan is auctioning off his

chicago area estate. the property was first listed for $29 million, then $21 million. and now, like many of the wealthy who are just looking for a final deal, jordan is turning to concierge auctions to sell his custom property to the highest bidder. 7.9 acre home was jordan's main residence for nine years, making it the place he would call home. the compound has 56,000 square feet of living space with nine bedrooms, 19 bathrooms and a gentleman's retreat with original doors from the playboy mansion. the main appeal to the property is the full-size basketball court, accessible by a separate entrance and parking lot. it has a full locker room and wloung a viewing area in. 1990s to train for his season, jordan would practice with his, quote, breakfast club members like tim grover, scottie pippen, ron harveyer and randy brown. jordan moved out of the house this spring and now mainly resides in florida and north carolina.

the auction takes place on november 22nd with no reserve. >> that's a perfect piece of michael jordan memorabilia, right? you get his house, his basketball court, right? >> absolutely. the first thing i would do is rip up every board of that basketball court and put it on ebay. >> still has the sweat. >> the sweat is everything. absolutely. >> by the way, everyone is wondering who you are. just commenting like that and ripping up floorboards. >> i am scottie pippen. >> we have brought robert frank and chuck nice on today to go to the three most route rage yous headlines we have found this week. i want to get to the barney's drama first of all. barneyy's and new york police department are being sued by racial profiling by a young black man who says he was accused of stealing a black belt that he says he saved up for and purchased. what do you think of? >> i don't mind racial

profiling. you're looking at me with confused looks. if you profile, you have to profile everyone. if you stop me as a young black man, have you to stop an old white lady. that's it. even it out. sorry, mrs. vander bubble, we have to go through your bag, okay? >> what do you think, robert? >> i think it's terrible. i think they need to look -- the police said to him, barney's asked to us look in your bag because it was a suspicious transaction. barney's is saying, we never -- >> barney's is distancing themselves. >> somebody is lying. >> how dot police show up and know you just bought something from barney's? >> he had a barney's bag, that would have -- >> well, that is a tip-off. >> orange is a new bling. rare 14 carat diamond expected to fetch up to $20 million at auction in november. it's also called a fire diamond. >> as one moment as a wealth

reporter i wanted to walk out the night and call it acareer. >> $20 million for a diamond. right now a guy in a mine in south africa going, oh, man, hi it in my hand! i had it the whole time! $20 million, i blew it! >> story number three, the flying car. slovakian car company, something we don't often talk about, worked two decades to create the aero mobile. i think it's more plane than car. >> exactly. this is not a flying car. george jetson had a flying car. this is a plane that i can drive to the airport. that's what that is. >> it's fitting that we're talking about this today because it's the twitter ipo. great line, we wanted flying cars and all we got were 140 characters, talking about, if you ask somebody 20 years, what are you excited about? either a flying car or something where you can type in 40 -- they would have said the flying car. i think this is way cooler than twitter. we should ipo this sucker and get it off the ground. >> there's no price on how much

this would cost? >> no. >> and you need flying lessons. >> we don't know if it flies off three meters off the ground, because that's all it does in the video. >> just to get over the taxi cabs in manhattan. that's all i need. >> thank you. thanks for watching "street signs." "closing bell" is up next. have a great weekend, everybody. hello, welcome to the "closing bell." i'm maria bartiromo coming to you from washington, d.c. >> an hour of trading left to go. the market seems to be set up for another winning day. weak dow and s&p, or or near s&p. the nasdaq making another 13-year high. and knocking on the door of 4,000. so, why are so many starting to sound alarm bells? human nature, i