[closing bell ringing] liz: bells are changing on wall street. we have green on the screen. we'll say this many times. these are two major names intel and a dow component and yahoo! we're looking at big move on the markets after falling precipitously midday. "after the bell" starts right now. liz: welcome to all of you, again what a crazy day. rich: right. liz: it is amazing what is going on. let's break down the market action. pete benson, beacon capital management partner. telling us why it is time to focus on companies that provide income. ryan dietrich, schaefer's investment research, senior technical strategist. why investors should put their money to work right now but in

one particular area that may surprise you. and mark sebastian, down in the pits of the cme. mark, when we saw the flight to quality into treasurys, i looked at that, second day in a row here. markets were able to see gains here. >> yeah really screwy the last couple days. if you look at the closing print, you think we're up 14 points. yesterday up 12. up today. market's fine except for we had massive intraday ranges. today's intraday range of s&p 500 was about 26 points. at the nasdaq and russell, they are off the charts crazy right now. the movement that we're seeing in the momentum stocks, up and down, is really what is driving the market. i would point, we talked about the vix, cost of insurance. i point traders look at vxn, which is the vix of the nasdaq and rvx which is the vix of the russell 2000. they are trading at the largest premium to the s&p 500 vix since

2008. and in relative terms to the level of vix right now, one of the highest premiums we've seen. liz: basically tell our viewers something about that. the annual low for that was 14. the annual high is 27. you're right, we're at around 23 at the moment. >> yeah, it is absolutely nuts. >> talking about the russell volatility we're talking about, correct? >> just look at russell and nasdaq, if the s&p was also in the 20s, that would seem kind of normal. the fact that the vix itself is around 15 and those indexes are way above 20, that shows you where all the weakness of the market is and what is really driving the marquette. if you want to though where s&p and dow are going to go? resole is leading market every day. rich: brian where does the

market heads here? a flight away from equities? where do we go from here? where do you see the markets heading? where do you see equities? >> sure. right now today was a good sign. the russell 2000 as mark mentioned it went to thehundred day moving average, nice trend line. nasdaq bottomed from february lows. the bleeding won't stop until momentum names and small caps stop going lower. today is a good sign. the historically speaking lags 40 years, april's bottom is april 14th. the last 10 years the april bottom is april 15th. then we have higher move into april. you consider that with the vix things marked touched on, a lot of fear coming into the market, we look at put to call ratios at schaefer's to put this simply, we're seeing a lot of bearish puts coming in and front month options on etfs. we see that historically when people get scared and -- liz: we have to interyou.

intel moving higher on numbers that just came out. let's get to adam shapiro. >> the street was expecting 37 cents. revenue fell 8% it came in line with expectations, 12.8 billion. we'll chop through this and let you know more. apparently they're doing some things right and investors like when they see from intel. >> the stock is moving higher. i want to quickly tell you, they're saying full-year 2014 revenue they see flat. that is unchanged with what they had given for expectations. so there is no surprise there at least at the moment unless you have whisper numbers you're looking at. as you look at numbers, the capital spending expected for thy is 11 billion. that is smack right on the money from what they would have expected and what we already knew as far as a number that was out there. rich: right. if you look at headwinds they have coming up. where do they go in the future with the pc market? this is one of the companies that could go either way here. we're see earnings and -- liz: talk to mark sebastian quickly, as you look what is happening with intel here this

is a hard stock to move because it is considered a little bit of a commodity with all the semiconductors but right now it is on the move. >> yeah, you know, with what just happened in the nasdaq 100, you know, a small beat for tech socks is going to cause them to rally because they're so weak right now. intel we were looking for about a 3% move. looks like it will do that or a little bit better. that will be one theme we see throughout all the tech companies, now that they have been beaten down, you know, a beat or in line will probably be a little bit after positive going forward. that is what i think we're seeing with intel right now. liz: let's get to pete benson over at beacon. pete, tell me what you're doing at a time where monday and tuesday, we've seen, yes you could say volatility but not as dramatic what we saw thursday and friday last week but people get a little anxious and nervous. would you recommend them sitting on sidelines until things calm down or diving in. >> thanks, liz for having me on

today. some are calling this turn-around tuesday. it sure turned upside down today. my grandchildren would like it because they love roller coasters and that is the kind of day it was but, you know, we're telling our clients to just stay the course, not to panic. we're getting a lot of information thrown at us each day. a lot of it is negative. a lot of it is positive. we're seeing earnings numbers in some companies much better than what people expected even though they were expecting them to be fairly disappointing. what we're telling folks, get into some quality companies and stay the course and just don't get as nervous as the market was allow us to be if we actually followed every headline. rich: brian, let me throw this to you looking at the international picture here. how much has ukraine played into what we've seen with the volatyay and last cle weeks? seems like it is flaring up again. do you think that is to be playing in the markets? how significantly what happens with ukraine to investors? >> i definitely think it is

important. we're definitely watching it. we're staying away from international and emerging markets right now. there is too much volatility. rich: hang on one second. we have i can't hoare earnings. -- yahoo! earnings. adam shapiro we'll head to you for yahoo! earnings. go 6 go for it. >> this is. 3 cents per share. acquisitions came in 1.09 billion. street was expecting 1.08 billion. click increased 6% compared to same quarter 2013. quarterly number of ads sold increased approximately 7%. rich, back to you. liz: price per click increased approximately 8%, compared year-over-year. and i know the analysts are going to certainly like that. search revenue ex-tax was 144 million first quarr of 2014. marisa mayer has a lot to prove. people say this company is nothing without alibaba and the

stake in the chinese internet giant. rich: the question is what does the company want want to be howh alibaba will -- alibaba will play into it. liz: who did we interrupt? brian, go ahead. >> we're talking about ukraine is that big after concern and i think it is. since all the ukraine stuff started recently. that is when the all the volatility started. is that the reason momentum stocks finally cracked? i don't think so. price willing to pay is bottom line a lot of these momentum names yes they bounced today but still bigger picture as guest before me said, stay the course. don't go overboard momentum names. there will be a lot of other sectors we get into next that look beaten down and maybe start to rise. liz: mark, give me your thoughts on what you feel is the flow for trading starting tomorrow? we did have people on the show, our traders, teddy weisberg, who has been a long-time trader very concerned about high frequency trading. he think it is was a culprit in today's volatility. i know you guys have your

opinion certainly on the floor of the cme but you get no indication how any day is going to go these days. >> yeah, especially on these light volumes days. it is passover and easter. every spring break, every is out of town. light volume days. al go trading can move things around. if we want to go away with high frequency trading we could do away with it pretty simply. sec should rule out payment for order flow which is probably the driver of, good 90% of hf. i don't think the stuff that moves market back and forth is that big of a deal. i think some stuff where you see people step in front one way or another of an actual order that is owl payment for order flow based. on a day like today, you know, it is really got to look really what continues to happen in the broader picture of the market. we continue to see momentum stocks, the russell, russell 2000 which is really u.s.-based

companies, looking really weak. you know when i look at the vix about 15 1/2 right now, historically it is normally around 20, if you look at other metrics, maybe 18, insuring a portfolio is still relatively cheap historically and we're not that far off all-time highs. i have no problem being long the market. we like the approach of going out buying puts and going long the market to at same time creating an upside hedge and protecting yourself on the downside. that is kind of the way i'm looking at the market right now. rich: thank you, pete benson, ryan dietrich and mark sebastian we'll come back to you shortly for the s&p futures close. from espn to vogue to wwe, aol is partnering with big names to bring web users new and exclusive content. what can we expect and what is behind this online makeover? we'll talk to aol.com's president in a fox business exclusive next. liz: intel is moving higher

after reporting earnings just moments ago. the stock, it is about a 3% gain give or take. we know the past quarter's numbers but what has been happening so far this quarter? some granular discussions and data in the dirt with intel cfo stacy smith. will they hit the tablet goal of being 40 million of them this year? >> what is going on in biotech? we'll have the ski 6 ceo of a cord deyawn therapeutics. its stock is up 21% this year. liz: tell us what you think. is the biotech bubble here or time to go bottom fishing in the sector? when i say bubble, i mean bubble pop. tweet us @fbnatb. we would love to hear from you. ♪ [ male announcer ] what if a small company

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i tell people it's for the climate. the conditions in new york state are great for business. new york is ranked #2 in the nation for new private sector job creation. and now it's even better because they've introduced startup new york - dozens of tax-free zones where businesses pay no taxes for ten years. you'll get a warm welcome in the new new york. see if your business qualifies at startupny.com liz: they're sweating in the s&p futures pits as they close. quite a day, mark sebastian. how do things look for tomorrow? >> we picked up another 2 1/2 points on the intel news. tomorrow morning vix futures options expiration. watch first half hour to be a little funky on open. liz: we will. i'm not surprised. that is exactly what we had today, mark sebastian. >> yahoo! reporting just moments ago actually. we're going going to aol.

aol overhauls its homepage making video front and center. the newport tall exclusive content from premium partners, espn, wwe and conde nast, and my favorite the home shopping network. liz: right. i mean, i like the wrestling. why is aol turning up the dial on video content in particular? joining us now at a fox business exclusive, maureen sullivan, aol.com lifestyle brand president. i'm look at new homepage on aol. it is chockful of different things but what is the message behind the overall? >> it he was our consumers. they are consuming video at rapid pace. we're seeing video content growing rapidly. it was time to put video front an center on aol.com. liz: 158 million videos watched on aol during the month of march alone. >> it is insane. the growth is growing. users are not just readers but they're viewers as you all know. we have this amazing library of

premium video content within our company and the amazing partners that you mentioned we're working with. so we're thrilled to put the great premium content front and center. rich: what are people watching? are people watching full-length videos or you're finding they're watching video? what is viewership like? do you have demographics who is watching? >> we do. one of the great things watching a 24/7 internet site we see what people respond to. the short clips respond best. they want to get in and out to consume. different parts of the day they watch different content. news, politics video spike or lifestyle or health and wellness videos. that is how you will see our programing really develop by responding to what people are watching. >> let's talk about the things you're going to do. holly sims, she is a supermodel. you're looking at a bunch of life-style opportunities you hope will attract more eyeballs to the site. >> exactly. liz: who else have you got? rachel roy and other people who

are experts. >> we are the number one lifestyle content provider, aol is. we have a great bank of influencers that bring interesting insight and perspective to our audience. liz: almost like linkedin. you know, they asked a lot of us to be influencers and write bit. >> exactly. liz: who do you look at here as would like to be like them? i know your answer is we like to be like aol. linkedin, is it youtube? >> anyone with open platforms. those are grat examples of smart, scaled open platforms. how do you open up your network to get the best content for your audience? that is what the aol expert platform will be all about. bringing influencers in to create great content for daily millions of people who show up on aol.com. rich: talk about users on during the day, typically i'm going to assume many of them are at work and might be a boss lurking somewhere. is video the right play there? >> yeah. rich: if i'm, i might know somebody at work who pay want to

be distract ad couple of minutes, that is all text. don't folks want to read text all the day? do they want to see video. >> i got funny email, i love your video experience but don't tell my boss because i found myself watching seven clips in the middle of the day. they want article content. we'll continue to do that. that is an important part i think what works online but video is massive growth area but we're seeing just as great consumption on video as well so we'll do both as a company. liz: let's talk a little bit about the other opportunities aol has. what kind of user growth have you seen in advance of this change? >> we had some really exciting milestones in march. we had a 15% increase this in engagement with almost 30 minutes time spent for the average users. that means the people that show up on our sites are super, super engaged consuming lots of content and for us that means they're really enjoying what they're seeing -- liz: i guess what i'm getting at here, the perception that aol has an older demo pause you guys

were among the first in there. aol owned it. do you have a younger demo that is starting to come to you guys? what do you need to do to attract that? >> i think that is a great question. i think the key is innovating and creating great content. partnering with world class content providers. if you have great content and great experience that audience will grow. that is what we're betting on in the future. rich: do you worry about partnering too much? do you worry about creating original aol? a lot is original to aol, no wwe, espn, just aol. >> putting the best content in front of our users it how we will build loyalty and grow engagement. sometimes it means we create content ourselves and sometimes we open up our distribution platform to the world class partners. rich: reid sullivan. thanks for joining us. appreciate it. >> the stock is up 7% year-over-year. thanks, maureen. you want to make green from greens? forget about whole foods.

that is too obvious. there are three less obvious but potentially soup irprofittable way to play the rapidly growing $48 billion natural and organic food market. we'll tell you how. we have got the names when we come back. rich: we two inside intel's brand new earnings report with the cfo of the chipmaker stacey smith. whether the chip market is stablizing and wearable computers. stay with us. ♪ e.

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rich: the greening of the american cup board. organic and natural grocery sales grew to $48 billion in 2012 up from just six billion in '98. liz: you even super retailers. not just a whole foods story, folks. walmart, a and p stocking up on organics. how can you make green from the exploding trend? we have jeffries investorplace.com editor and you have got three names. before we get to those, i guess the question becomes people are salivating over natural foods now or organic foods in a way we haven't really seen i guess. when you aggregate it, you see that people are eating this way now, right? >> yeah, i mean there's a lot of reasons for that. number one, i think it is just consumer taste. as you saw in the beer industry, you probably talk about this a lot, watered down old beers like bud light are not popular. craft beers risen because

consumers like better, flavorful beer around same thing with produce. liz: they're willing to pay up for that, right, jeff? >> yes. at times believe it or not with the unemployment rate people are not feeling things as well as a couple years. if you stay at home at least you eat food tasty and good for your family. i think it is combination of consumer tastes and of course health concerns as people cut out fats and sugary foods. i think a natural place for consumer staples to move. the numbers you share, a lost consumer staples products or stocks people have in the portfolio, there is not a lot of upside. you don't see growth like that in particular proctor & gamble and kraft. this is consumer staple but there is kind of an impressive growth rate as a tailwind. rich: jeff, who should whole foods be most concerned about? new grocers coming on the scene or walmart? i'm going to say they're not all that concerned about walmart because i don't know of anywhere in the country where there is walmart at least close to driving distance of a whole

foods. >> that is big challenge for walmart. nailed it on their kind of geogt really play with whole foods. whole foods has to worry about its brand becoming less hip than it is now. whole foods has working for the big momentum story how it caught on with consumers. if other retailers are able to compete on price, again part of the reason whole food has done well it is us versus the big guy mentality. once you become the big guy and big organic i don't know how how big organic will play with whole food shoppers. i think it is smaller companies you haven't heard of again. liz: makes sense to switch this around. let me take what was your third pick and bring it up to the top. that is company called sprouts farmer markets. this is an up-and-comer, is it not? you say this is a name that could take on whole foods of the world? >> sprouts is little different than some. other stocks we talked about. it had a recent ipo there. is not that much earnings history. so it is more aggressive than

other plays out there. what i like in the s 1 filing when it went public. had 171 stores. when it goes public 2020, market will support 1200 sprouts farmers markets. if they're off by a modest amount, get to a thousand, getting factor five to seven growth instead of growing seven to 10 times. as investor that is impressive growth story. as we've seen with the broader interest in organic needs i think we an -- foods i think we can get there. with growth to he expand their business time will tell if they fill the market they have seen out there. the fact this company went public and seized that market, says a lot not just about sprouts but organic space broadly. rich: sprouts pick off and we see more companies come in to challenge whole foods what does that mean for distributors? >> distributors are probably favorite way to play it. one stock i'm looking is unfi. it is supplier to whole foods. about a third of its revenue. it goes on either side of whole

foods where it takes big national grocery store chains that grow organic grocery store stuff and mom and mop and any retailer that sells organic stuff, possibly can be a unfi client. if you're looking for broader penetration of organics in the retail space a distributor is a great way to play that because anyone who sells that will have to get it from somewhere. unfi is growing aggressively in expansion. four to six in the last year, and that is definitely stock to perform and outperformed last 12 months. liz: we want to get hain in a hain celestial. irwin simon, said, liz i wan to be the kraft foods of the organic market. they have everything from earth's best to celestial that's to arrowhead mills. it is absolutely gigantic. it has a trouble past month. what is going on? broader market bringing it down?

>> also broader market and momentum running out of gas. we see this a lot of momentum plays whether amazon or organic foods. it is become this diversified organics food powerhouse like kraft. they made another acquisition to get into rice product foodstuffs which is a great growth market with gluten-free stuff out there. this shows they're looking around the corner and they're not rest on laurels with celestial that's and they're looking where the market is growing and this will be another stock like unfi. it's a niche play but a good one with a niche play in the organic space. rich: thanks, very much. >> thanks, guys. liz: biotech stocks have been wreaking havoc over the markets last two weeks. you could say the last two weeks really. will this selloff continue? coming up we have the ceo whose biotech company is actually up so far this year. holding steady despite the selloff.

why? what does ron cohen have cor therapeutics that makes the company special? you need to hear what he has to say. rich: liz, have you filed your taxes yet. should have, they're due. think you paid enough? you may soon owe a new tax how much you own. we'll have more on that sadly next. ♪ ♪ [ girl ] my mom, she makes underwater fans that are powered by the moon. ♪ she can print amazing things, right from her computer. [ whirring ] [ train whistle blows ] she makes trains that are friends with trees. ♪ my mom works at ge. ♪ ♪ ...work with equity experts...

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rich: time for a look at today's market drivers. stocks eking out gains with the last hour of trading with all three major indices ending in the green second day in a row. utilities was today's top performing sectors. shares of yahoo! soaring 7% in after-hours trading following its first quarter earnings report. the company reported ex-tac revenue rose after four straight quarters without growth. homebuilder sentiments rose in april inching up to 47 from downwardly revise 46 in march. this was index's third in a row to come below 50. that means more builders view conditions as poor, rather than good. liz: chip giant intel reported first-quarter earnings earlier this hour. now, worldwide pc shipments fell in the first quarter. intel saw pc client group sales fall just one percent during

this quarter. is the pc market stablizing had and what kind of strides has the company made in wearablable technology? joining us intel chief financial officer, stacy smith. great to have you. let's give people numbers. you beat earnings per share by a penny, coming in 3cents and matched on revenue of 4.billion dollars. people keep talking about the pc market. you have idc, and gartner coming out with lower pc shipments declining but came out with different numbers. what is your view of the pc market right now, it equals 60% of the intel's business? >> i think as you said, q1 was a good solid start to the year and slightly ahead of expectations we said at beginning of the quarter. when you dive underneath the headline what we see pc market stablizing. in fact we're starting to see some pockets of strength in the traditional pc market. we're breaking out results in a different way to give insight into our results in mobile and internet of things and data center.

and so, i think we're paying complete picture across different devices we play in. liz: that is interesting. it isn't often intel adds new groups to the earnings report. this involves sec filings which i'm sure thrill you to death. your internet of things group, posted a 32% increase. it is in the early stages needless what we know as burgeoning opportunity. what are you in, what companies are partnering with? no one of the reasons to break this out give people a sense of size of business. intel is not the leader one of leaders of internet of things. business is on track well over $2 billion. grew 30% in the first quarter. we play across a wide variety of segments. we saw particular strength in the first quarter, regional point of sale devices and automotive and in vehicle infotainment. liz: articulate what a retail

point of sale? is that one of those jawbone type devices, is it the watches, what are you talking about? >> in a retail point of sale, this would be, no, this would be a connected device inside of a retail store that does inventory management. liz: got it. >> it actually completes the transaction. we have a lot of investments in the wearable space. that is generally a small segment of the overall internet of things but exciting segment some we actually bought a company this quarter and we're doing lots of permanenttation there so we're there early -- experimentation. liz: revenue for mobile communications, that did fall and fell about 61%. you will have intel naysayers out there. you're familiar with them, saying, see, see, they can't get smartphones right. they can't get mobile right. what do you say to that, stacy? >> yeah. in we showed, in the november investor meeting what we thought the trend were going to be. so what we're seeing in the business is a shift from 2 g, 3g

platforms in the communication space to lte. so we would expect a pretty significant revenue ramp in the back half of the year associated with that i think the big progress the company made in the first quarter, is we have a goal of shipping 40 million tablets, processes -- processors into 40 million tablets. we're well on track for that and grew five million tablets in the first quarter. it has been consistent with what we're saying. >> you didn't get in. didn't win the galaxy 4 tablet opportunity there. that was early april. you're in a lot of white box tablet manufacturers in china. what are the margins like for that? some people say they're not as good as, say, for example the higher end taxicablets out there as an opportunity? >> well, just to come back on the customer base, and i won't, announce specific design wins for our customers. we let them announce them when they want to announce them. but, at mobile world congress we did talk about wins in the communication space and apps

processor space that span across companies from samsung to lenovo to acer. so we're winning big customers and i think we're bringing a lot of value to them. in terms of the -- liz: go ahead. >> sorry. as i was going to say in terms of the long-term profitability of the segment, in that business, you know our strategy to have manufacturing advantage over everybody else. if we do that, in we extend on advantage we have today, we're going to have better performance, lower cost and more energy efficient products. that is how we win. we'll build profitable businesses over time because of that leadership. liz: we've watched the chip opportunity there and it appears to be growing. i need to ask you because you guys do so much business overseas, in fact the greater part is not in the united states. the situation in ukraine, does intel look at that very seriously? is it affecting your company? we would love to have some information on that at least how you guys see it. >> sure. and let me start at the highest level and i will get down to ukraine. what we saw is relative strength

in the mature markets, the emerging markets are looking behind a little bit. we did see some strengthening in china. it still isn't as strong as we want to be better quarter on quarter. china is the largest market for pcs in the world. specific to ukraine and russia, yeah we saw those markets as being pretty weak in the first quarter. and it's a combination i think of some geopolitical issues. but for our business, the currency fluctuations are probably even more significant. but that saul a-in on results for first quarter and expectations for the year. >> the ruble certainly has been a mess. stacy, good to see you. thank you so much. intel beating on the bottom line and matching on the top line for revenue. we appreciate you coming on. thank you so much. >> great to be back, thanks. liz: the stock not holding all of its gains in the after-market session, rich but we're watching it closely. rich: absolutely. for competitors sort of, google known for out of this world ideas such as buying the drone

maker titan aerospace. the web giant filed a new patent, one that would potentially help millions of blind people. liz: in case you haven't noticed, yes, it is tax day, april 15th. before you get to the idea of getting a refund from the irs, get ready for a new push by some for a wealth tax. may not affect you. may just affect the wealthy but we're going to washington for details next.

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liz: i can't bring myself to say happy tax day but -- rich: just say tax day. liz: tax day. in addition to the taxes you paid this year, some certain liberals are now pushing for a new tax on wealth. an annual tax on how much you own. rich: our own peter barnes is live from washington with more. peter? >> that's right, liz and rich, french economist cause ad international uproar with his new book about the gap between the rich, especially the very rich he had sends out there and everyone else. sorry, couldn't help myself. he says without some action by world leaders such as big tax increases on the wealthy the rich are going to keep getting richer. today pkt was in washington where his book added new fuel to the debate over income inequality this election year. he has collected 300 years of data on wealth and income in 20

countries and down clouds the rich will keep getting richer for one simple reason, return on investment and call tall is 5% globally historically while worker income is 5.5%. so workers will keep falling behind. but he says in his book, quote, there are nonetheless ways democracy can regain control over capitalism and insure that the general interest takes precedence over private interests. his big deal? a global tax on wealth, on assets themselves like a global property tax, a tax on value of stocks, bond and real estate and more. critics are attacking all of this, piketty research is skewed by the super-rich, a few thousand people like warren buffett and piketty acknowledges the tax will not work unless every country adopts it. otherwise the wealthy will just move to a country that does not

tax them but piketty at least the his book provides data for a healthy debate over this issue. liz and rich, back to you. rich: all right, barnes. all right. it is your yacht next weekend. >> you're buying breakfast. rich: yeah, right. liz: we have smack talking between these two, okay. rich, we're borrowing you from the d.c. bureau. rich: stay out of my office, barns. liz: thank you, beater. biotech ceo whose company stock risen as his rifle shares retreated. rich: coming we'll ask acorda therapeutics ron cohen how biotech companies win back the confidence of bruised investors. [ chilen yelling ]

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rich: last thursday the biotech sector the largest one day silloff in two years bringing nasdaq down 6% wit. biotech is down but one company acorda therapeutics is actually up more than 20% since the beginning of 2014. liz: what is going on behind the doors there? we're bringing in ron cohen, acorda therapeutics, ceo, giving you inside perspective why your company is doing well and psychology behind people dumping out of biotech stocks, ron?

what happened? was there a tripwire? >> there wasn't any particular tripwire but a couple little things here and there. fundamentally last year the whole biotech sector was up 66%. which is huge. the market overall was up 30%. nasdaq was up 38%. biotech had a much bigger move up. it is reverting to the mean as we say a little bit now? why we held up? we didn't participate as much last year as overall bio second sector. liz: on the run-up. >> on the run-up. on the other hand we noticed this year investors started focusing on the value proposition in the company and actually seeing we're taking a our base business, with a drug that improves walking for people with ms and using those funds to invest in a real pipeline that is going to build value over the next several years and that's where people really have been focusing. rich: when you look at some of the things folks in the biotech industry said, they complained a little bit about fda and slow

staffing there and do you think that is significant problem and a different problem than it's been 10, 20, 30 years ago? >> actually the opposite because part the run-up last year and into this year was the perception, correctly by investors that the fda regime had gotten more constructive and more efficient because we passed prescription drug user fiat. we renewed that. there were a lot of things that allowed the fda to put better processes in place to get drugs through faster. if you look in '12 and '13, 66 drugs were improved by the fda. investors took notice and that was one reason investors took notice and the fda was a positive. liz: you have already approved drugs for alternative uses such as impira you're looking at it as a post-stroke drug, correct. >> correct. we have evidence one trial it may improve walking in people

who had strokes. liz: how how many more trials fr this? >> we'll do two face three trials. we'll start with one second half of this year. if that is looking good, somewhere in the middle we'll start another one. if both of them look good we'll look for approval on that. >> what dowhat do you think obae meant for this sector? on one side you have taxes. on the other side you have more customers. how has it played out so far? how will it play out? >> it is too early to tell is the answer. net-net it is probably neutral is my guess. more people coming in with insurance who can have their drugs reimbursed. on the other hand there are certain givebacks in there. for example we now as industry help people cover the so-called doughnut hole which is the monetary gap in their medicare coverage for pharmaceuticals. so net-net looks like it is probably not a major player in either direction. we'll have to wait and see. liz: for a company like you a biotech, which is a little bit

gutsier and look at pipeline, look what drugs you do have, the drug for epileptic cluster seizures, correct. >> correct. liz: this affect as lot of people i know. >> it does. in the u.s. alone there are about 185,000 people who get these uncontrolled breakthrough seizures regardless medication they're on. liz: sometimes hundreds a day, is that correct. >> some can have many, many a day. even 100 a day or more. so that is very important. we're working on a drug for chronic nerve pain which some people have, many people have. millions of people have and can't get rid of it. it is very debilitating. we're working on another drug, novel drug for multiple sclerosis to repair damage in the nervous system and acute spinal cord injury. all of that is in acute studies right now. you asked earlier was there something that maybe triggered the selloff, the one thing i would point to is that some congressional committee called in a major drug company's

executives to talk about the pricing of their new drugs for hepatitis-c. liz: when was that. >> this was recently. it was right before the drop began. liz: we're looking at index, biotechnology, started -- >> right at the time the drop started. i think what that did, it sent chills through investors thinking, oh, my goodness, are these innovative drugs going to get reimbursed properly in the future? what people really need to focus on, this drug, it can cure hepatitis-c within six months. a cure. for a deadly virus that some people carry for decade and it erodes their liver. they need liver transplants. so the costs of these medicines, they can't be taken as what does it cost for the next few months. they have to be taken as what are you saving in lives lost, in productivity lost over the next 20, 30 years. rich: ron cohen, thanks for joining us. liz: acorda, pharmaceuticals. we appreciate it. rich: victoria secret is moving

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from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet again. rich: let's go off the desk. everyone's favorite annual show so jumping to a new continent. the victoria secret fashion show is moving to london. it made i its way from miami, los angeles, new york and giving britain a try. the event is televised to 192 countries and held at london's earl's court this fall. liz: one highway in the netherlands putting lights to the curb and replacing with glow in the dark road markings. that is so cool. creators intend to ad weather markings. add snowflakes when it dropses

to freezing point. they use paint absorbs light from car headlights to glow. fascinating. rich: i don't know. we'll see you tomorrow. "the willis report" is next. gerri: hello, everybody, i'm gerri willis. right now on "the willis report," it is the day many americans hate the most. it's tax day. it is also a day full of surprises for many tax-filers. are you one of them? good news to report on alzheimer's. you got your kid and grandkids to thank. and are you taking our cash challenge? >> i'm chris lynch. i'm 48 years old. i'm single and i want to take the all-cash challenge. gerri: more people living debt-free after ditching the plastic. we're watching out for you on "the willis report." gerri: it is the 101st federal tax day in our nation's history as we