copper and gold on the weak side, weaker throughout the day. the existing home sales numbers. bear in mind these have held up extremely well just the last week, for example, lennar down there. modest decline in some of the big names in the home builders. difs appointing home numbers came out, the commodity names moved to the down side. massey or the oil service names like smith or eog, also weak on the day. i want to note the real estate investment story, ipos, two big names here, both of them set up to invest in mortgages associated with commercial real estate. both priced at $20. you can see, both closing below their price, more importantly the amount of stock offered was half what it was spoken about last night. no assets behind them yet.

they're going to buy stuff. that's part of the concern here. institutional investors distrustful of what the real value is of commercial real estate. >> thank you very much, bob pisani. i thought our producer, lu luchange was going to say, who? brad pitt just walked by. taking a look at the business headlines, we'll tell you who's sitting next to me in a few moments. the jobless claims unexpected fell by 21,000 last week to a seasonally adjusted to 50,000. it is the third straight week claims have actually declined. the number of americans continuing to collect unemployment benefits, also down to 6.1 # million. the national association of realtors, reporting that existing home sales dropped by a larger than expected number. that was 2.7% in the decline, ending a four-month winning streak on that date. and where the movement in the housing market is right now. and where it is coming to a dead

stop. nintendo is cutting the price of the wii video game system to $199, by 20% in the united states and japan. following similar price cuts by sony and microsoft. joining me now to talk more about the economy, and the markets, retired u.s. army general wesley clark. he is the former nato supreme allied commander for europe. as well as a former presidential candidate. also joining me to talk about banking right now is muhammad eunice, founder of gramin bank and nobel peace prize winner. gentlemen, nice to have you on the program today. >> thank you. >> muhammad, it is wonderful to see you. congratulations recently. we all saw you with president obama, and we want to send you our best after that. really, congratulations. >> thank you. >> you've done so much in terms of banking for much of the world. can you give us a status check, where are we in terms of those people who are living in poverty, living under a dollar a

day in terms of their access to credit, and their access and involvement in the financial system? >> it's expanding throughout the world. the idea that it started 3 # years back, gradually spreading through the world. still, the number is big, but it's not big enough to cover all the people. so there are nearly half the population in the world who have no access to any kind of financial ser vis. the it's not proceeding at the speed that they should proceed. it needs some policy decisions, so it can spread, start doing things, take deposits, land money. we started a program in new york city, and it works beautifully. now we're invited to do it in nebraska and many other cities we're doing that. so it works in the usa. it works in any other places. so this is a thing that we have to do. particularly in the financial situation where you need to really system becomes an

inclusive system. >> i want to ask you about the commitments and what you're doing in mexico city in a moment. but wes, let me get your thoughts on the other end of the system. credit for small businesses, credit for new ip ovations. i know you've been working a lot on alternative energy. >> i have. >> where do we stand on that part of the spectrum? >> i think it's tough right now in alternative energy. it shouldn't be. you would think with the slack in the economy, this would be the time to take the unemployed resources, take the american jobs and move out on alternative energy. energy demand is down like other demand is down. kret's tight. it's very difficult. there's a surplus of wind turbines. but the utility companies have the power they need. they're uncertain good government policy. the banks, especially the small banks are under pressure from nonperforming and underperforming commercial loans. they're still worried about another round of home foreclosures. and their mortgage-backed security investments, those that have made those investments. it's a tight credit market. there is money out there to

invest. so equity seems to work. but debt financing is tough right now in the alternative energy system. >> give me your thoughts on the obama administration's efforts recently. i mean, a lot of people are talking about the fact that we probably will see unemployment continue at high levels going into 2010. because there's a lot of uncertainty. certainly as it relates to business right now. they're worried about cap and trade. they're worried about higher taxes. what's your sense of how the administration is doing, and what they can be doing to further the recovery? >> i think the first mission really was to prevent the collapse of the banking system. i think it's mostly done. but there's still another wave of recalibration for option mortgages out there. so people are concerned about that. there are still home foreclosures going on. and as joblessness goes up and commercial real estate values continue to decline, it puts more pressure on banking. so we really have to grip the job creation. and this is really eight years with very little net job

creation, especially in productive assets. so alternative energy is one of those areas that should be easy to fix. for example, if the epa were to approve a move from e-10 to e-15, it would trigger about 500,000 construction jobs, hundreds of millions of dollars into ethanol and open up the market. and that's domestic jobs. 136,000 permanent jobs across the midwest. it's an administrative ruling. it's being studied. it might happen. but the market's sitting on its hands, because investors don't want the incertainty of government policy decisions. >> right. >> so i think the market's looking for the real signals of the strength of the commitment of the administration to alternative energy. >> muhammad, alternative energy and certainly emissions on the planet are just one issue that you also are dealing with. >> absolutely. >> give me your sense of, as i mentioned a moment ago, what needs to happen in order to

expand the financial services system, get more people in, as well as whether you would like to see different policies as it relates to that part of the story? >> the financial piece is very important. renewable energy, for housing, for job creation, for self-employment, and for reaching out to the poorest, reaching out to the women. this is a forum that you need to build first. like we do the solar energy in bangladesh. we sell over 12,000 solar home systems. so that people can have electricity of their own. which is not being provided by the grid system. at the same time doing a favor to the climate. before the energy came, we built up the solar system, we built up the improved cooking system. so you don't have to chop up things, destroy things. you do it in a way that you save the trees.

it's very important to reach out to the poorest people. also in the context of the employment of the generation. and we were talking about the social business. you create social business to create employment. all businesses don't have to just be profit making. there are businesses which you can make to self-sustain and also job creation. so i can pay a social business to create employment. that is the whole purpose of the job. and it will defeat this. we have a lot of unemployment situation. the ideas have to be brought in. >> which is why they're getting involved in the banking sector because it needs to serve the people. in some regards your-not just talking about a profitability y, but social responsibility story. great to have you both. thank you so much. we hope that you'll come back for an extended period in the future. wes lark, muhammad yunus, thank you. the second-quarter results.

the stock is on the move. let's get to jim goldman. he's breaking down the numbers, telling us what the report says. >> yeah, you know, maria, with the run these shares have had, this is absolutely enormous news. there's no other way to characterize this report than in a single word, and that is ugly. sure, the company did beat on the bottom line $1.03 versus the $1 expectations as far as earnings per shares are concerned. $3.5 # billion, that's about a half billion dollars less than what wall street was -- this is -- yeah, much lighter than what wall street was looking for. $3.6 billion is what the street was anticipating. $100 million less there. new subscribers for research in motion, 3.8 million, 4.1 million was the consensus. and blackberry shift also a surprise here, 8.3 million units shipped versus the 8.7 million that some on the street were anticipating. gross margins, 44.1%. that is a slightly better than expected. but third-quarter guidance,

exceptionally light. much lighter than what wall street was anticipating. we can see that rimm shares are really just getting hammered right now. if you're a short in rim shares right now, you're having a good day, but everyone else, you are licking your wounds. maria, back to you. >> jim, thanks very much. we'll continue with more developments on the rimm story. meanwhile, up negs we're going to take a little trip around the world. stop in france. i'm going to be speaking with the finance minister of france, christine lagarde. talking about employment, how much she will be reading into the recent gdp growth we saw coming out of france. we'll also hear about her exit strategy from the stimulus measures. how might she recommend the federal reserve do it. and then later, my exclusive interview with the president of brazil. joining us, president lula, to tell us about reducing his country's dependence on the dollar. and also, he has some thoughts on what he's calling a commodities crisis. join us for president lula of brazil as we discuss the

resource rich brazil. back in a moment. you're watching cnbc, first in business worldwide.

welcome back to the program. live from the clinton global initiative. french finance minister christine lagarde tells me she is not a fan of bigger government in business. however, when it comes to the financial services industry, it could be a different story, because the industry clearly needs more oversight post the crisis that we were all just involved in. today i sat down with christine lagarde and asked her how her country's recovering after the recent gdp growth we saw coming out of france. >> france had positive growth during the second quarter, and i hope we'll have positive growth again during the third quarter. so in many ways, we are out of the recession. but not out of the crisis. that's my take on our economy. because although we have positive growth, the economy is

still losing jobs, and destroying jobs. and to me, the crisis will be over if two conditions are satisfied. one is, the economy creates jobs yet again. and second, we've thought it out, the financial sector, by regulating that particular industry. which is very, very special. >> where would you say is the growth right now in france? >> we've got three engines of growth. one is consumption, and the french consumers have continued to cop assume. not massively, but it's been a sustained growth. so we hope that that will continue. we've supported the automotive sector by putting in place this cash for clunkers system which has worked very well. the second engine is exports. exports is a bit weak, so we really need to boost that and encourage french companies to go out. and the third engine is investments. on the investment front, we

decided part of our stimulus to invest public funds into projects, into renovating roads, bridges, cathedrals. and that has worked. the private sector investment is low, is weak. and has been declining. so we need to boost that particular part of the investment engine. >> so would you consider incentives for business, incentives for small business, to create jobs, to get that part of the economy buzzing again? >> yeah. i want to encourage companies. i want to help smes in particular, to access proper funding, and we've put a lot of pressure on banks to offer good financing to smes. in france, we need to do away with a little bit of red tape, which is particularly broadened for some smes. we're working on that. we've set up a system which is unheard of in france to

self-employed entrepreneur, with very little constraints, very little registration processes, and all the rest of it, and that is working beautifully. we will continue doing that. and we're going to try to encourage investment in research and development. to that end we've got two tax offers, if i may say. one is a credit -- a tax credit for any dollar invested in research and development. if you invest a dollar in research and development, i give you back 30 cents. that's a big incentive. and we also are eliminating very obscure archaic tax, which was a tax on capital expenditures, which was silly. >> let me switch gears and ask you about the financial reform that you and your international colleagues have been discussing recently. what one the ideal situation from your standpoint? >> i'll agree with those who say we don't want more bureaucracy, we don't want more oversight. if it's not helpful and

efficient. but i think the banking industry is very special. very special because it is the custodian of public goods that is our currency. and second, it has the benefit of a huge franchise, which is given by the state, which is this implicit guarantee that we're not going to let major financial institutions down, and we are guaranteeing deposits. so that industry has a huge benefit out of that particular posture. and position. we cannot do without banks. you cannot shop, you cannot get your salary without the banking sector. so we need it. it has a special franchise. it should have special constraints. which is why we need to better supervise what is done in that sector. we need to make sure that they are solid on their feet, and that they have sufficient capital of good quality, and third, we need to make sure that

the policy on remuneration, on management of stuff is consistent with measured and reasonable risk policy. i think we also need to ask ourselves whether it's sensible for banks to trade for their own gts in such significant magnitude that it almost puts the main activity as a second priority. which is structurally movement around the economy, and those who need financing have access to financing through the management of the deposits of cash with the bank. >> all of these decisions dovetail on compensation in one way or another. because officials have said that you don't want to encourage risk taking. but should government regulators be overseeing bonuses, and compensation payments? what's your thought on this? >> two things. because the sector is so special, and has the benefit of

the state franchise, and is critical for the economy, special constraints can apply. and it's for logistics justified. i'm not a great fan of government involvement. but in that particular sector, it's critical that all people working in the operation are driven by a general interest, and not only their own individual interests with a very short-term horizon, which is next quarter, possibly the end of the year because of the bonus. so time should be taken into account. hence the third payment. and there should be something at risk for them as well. you know, it cannot just be bonuses. it has to be performing well as well. if they don't perform well, they should be required to pay back what is the first payment. getting a bit technical, but it boils down to compensation policies should be aligned with the risk that is tolerable for a

banking institution. >> the central banks around the world have clearly put in place extraordinary stimulus plans to get us out of this. what is your thought about the exit strategy? do you worry that it will be difficult to unwind some of these programs, even in the face of double-digit unemployment in many countries? >> it has to be very, very subtle. because you see, our economies were sick. because of the financial drain. and they're walking on crutches at the moment. you don't want to remove the crutches too fast, otherwise it will fall again. so we need to tip toe out of our stimulus packages, gradually, slowly, and identifying those areas where the sick man will be able to walk by itself. so that's the reason we need to coordinate. we need to do it gently. not necessarily exactly at the

same time, because some economies are clearly, you know, pulling out of the crisis a little earlier than others. but we need to coordinate the way we do it. and that is particularly necessary at the central banks level. spl is it fair to say that tiptoeing away is a 2010 affair? >> i should think so. i should think so. i would hope so, because it means that the economies are gradually back on track of creating jobs. >> how worried are you about protectionism and about so many countries looking inward? tell me your thoughts on trade and opening doors during this particular moment in time? >> it's a huge concern. because natural compensation, especially when unemployment rises, is to say, oh, forget the rest of the world. let's close the borders and do it ourselves. this is clearly was not the right part. we need to be extremely cautious to limit protectionism. >> final question, can you compare the french economy right now to the euro zone? how is the euro zone doing in

your view? >> i'll give you an example. the forecast for 2009 for france is around minus 2. the average for the eurozone is around minus 4. so we're doing twice as well as the average eurozone. you know, if we can pull the others, that's great. that's the whole meaning of being in the same currency area. >> my very special thanks to christine lagarde of france for joining us. coming up next, traders speculating on wednesday that microsoft could be targeting electronic arts for a possible takeover. we're going to get into that. now, the software maker is weighing in on the rumors. find out what's being said and how it's impacting the stocks when we come right back. stay with us.

welcome back. take a look at some of the stories we're following on the "closing bell" ticker tonight. we kick it off with steven nicholas raising his price on google. $590 a share from the old target of $495. it's cost cutting and potential benefits from an economic recovery. google shares tonight, traded this way. take a look. down on the session.

bed, bath & beyond, analyst telling clients the stock has gotten expensive. after hitting a 52-week high earlier this week. stocks down $1.27. microsoft says it has no plans to require electronic arts. take that, rumor mill. shares of the video game publisher spiked on wednesday on ub substantiated rumors. you usually don't hear the company come out and swat a rumor down. that's exactly what they did. as a result, take a look at the stocks. up next, a four-month winning streak in existing home sales snapped today. coming to an end of the which markets are seeing the biggest movement? is this a concern for a potential housing comeback? what is your house worth in your neighborhood? we'll have some answers coming up. stay with us. tdd#: 1-800-345-2550

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welcome back. as we told you earlier, existing home sales falling nearly 3% last month. looking at how sales are doing at specific price points. diana? >> reporter: maria, the numbers really surprised the street today. after four straight months of gains, largely driven by foreclosure sales, experts thought we were in solid recovery. but a more tor yeah may be toying with the trend. >> various moretoria has diminished the pace of sales. as people try to see who can qualify for the modification program. but the foreclosures are rising and will pick up. we just don't know when. >> reporter: now, if you look inside the data where all the action is happening, you can really get clues into why we saw this drop. it's because it's all on the low

end. turn the corner past $250,000 and it goes from bad to worse. down nearly 10%, and the $750,000 to $1 million range, down 22.5%. low-end supply is drying up. >> this is indicating that, first, that the first-time buyers, typically on the lower price, looking for lower-priced homes, that is stimulating. and repeat buyers, i think there's perhaps changes in the view that they want to stay well within their budget. and the tighter underwriting is saying don't overstretch. if you overstretch, we're not lending you the money. >> reporter: realtors are pushing hard for an extension of the first-time home buyer tax credit. they say a new survey of home buyers they did, half of the home buyers said they would not

have made that purchase for some home buyers if they didn't get the credit. for more, of course, go to the blog realtycheck.cnbc.com. thank you, diana. in washington. brazil, one of the few g-20 magss to have officially emerged from the global economic recessi recession. brazil's president talks with me in an exclusive, giving his optimistic outlook for economic growth and how to reduce his country's dependence on the dollar. we'll find out how much vibrancy the brick nations have when i sit down with president lula of brazil.

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welcome back. along with germany and france, brazil is one of the few g-20 economies that emerged from recession in the second quarter. south america's largest economy expanded 1.9% from the first quarter. tea brazilian president lula told me he's expecting brazil's economy to grow in 2010. he sat down with me after his met at the u.n. and before heading to pittsburgh for the g-20.

i want to ask you about the broad economy in brazil right now. a lot of people talk about brazil has having vibrancy, more vibrancy than the rest of the world. are you concerned about the real, the price of commodities today? >> well, i'm always concerned when the real, our currency is overvalued. or because this facilitates our imports and makes it difficult our exports. and so this is a concern for me. but we made an option to have an exchange -- the exchange rate, and we have to have a floating exchange rate that floats. and we can't intervene unless we try the central bank will try to withdraw dollars for the markets. so what we're proposing is something new, like we did with argentina. so we are proposing that the trade exchanges should be con

with our domestic currencies, without the need to buy dollar, discussioning with brics, china, russia and india. our trade balance flow should be done with our own domestic currency. our exports and imports would have a smaller burden. it will make things move faster and we don't have to buy dollars and we can keep our currencies in a much more comfortable situation. an hour wee discussing, and i believe until the next year, maybe we can reach an idea with the bric countries so we make our trades exchange. we're using our open domestic currencies. this could be done with other countries, too. argentina, the experiments have been successful. we wand to expand that to the other block, so we don't need to buy dollars. and overvaluing the dollar itself. and so i believe that this is a

way out for the country. of course, obviously there are people against this idea and we're going to have to have the awareness that this is not something easy that will be accepted very easily in the world. but it's a discussion for the debate. and we want to raise this debate already with a certainty that we have have sk sesful experiment between brazil and argentina. >> is it fair to say you would think that the dollar would continue to weaken? >> translator: well, i don't want a weak dollar. i don't want a strong real. i want a balance between the different currencies so we can have the certainty in brazil. there was a day that the dollar was equal to one -- one real was equal to the dollar. the next day you would need four reals to buy one dollar. so a lot of people that broke, a lot of people said, oh, $100 million, and woke up with $400 million overnight.

we don't want these surprises anymore in the economy. i always say that i'm not an economist, but since i was a labor leader and for many years i had to negotiation with big business, i was obliged to learn a little bit about economics. and i believe that the most thing in the economy is not have surprises, to avoid surprises. the person should wake up in the morning and go to sleep at night to the same pace with the economy. because people cannot -- in brazil, there was a habit to make new economic plans. every new financial minister would come into the government and make a price. there's no package, there's no surprise. everybody needs to know what we're going to do. very openly. because we can't play around with the septemberments of people that could be afraid or not of government action. for me, everything is done with the daylight. i have to be sincere to my

people and the people should know very clearly that things work well that way. >> putting prices aside, can you give us a sense of the demand right now that you're seeing for things like oil, soybean, other commodities, sugar? >> translator: well, we are convinced, and the results are already showing up, that the commodities will be valued. and i believe that the world more and more will need more food. and i believe that brazil has an extraordinary possibility, because we are one of the top countries in the world that has the largest land in the world. sugar cane that produces ethanol only occupies less than 2% of all airable land in brazil. so we have an immense size of land in the sense of agriculture. so i expect the world could eat more, china could eat more, india could eat more, because

india could produce more food. it doesn't necessarily have to be careful. the price should not go beyond the purchasing power of the people that need food. now, in the oil issue, on the oil issue, i believe that oil should be stabilized. and some think it should be stabilized at $90, others $80. i believe that oil cannot be the reason to suffocate the countries today, strangle the countries today. brazil is reliant on oil production. brazil has recently discovered a great deposit in deep sea oil fields. these are huge reserves. it's 7,000 meters of depth. and we have developed an oil regulatory framework not to allow that we will become exporting oil country and start to spend that money from oil exports, and waste that money. because everybody thinks that

you're a sheikh. i've developed a regulatory pramwork we have a recessionary regime, and now we have a shared regime. and we developed a fund. and this fund with the oil money, it will be used to invest in education, in science and technology, so that we can end with a positive in our country. and also for the environmental issues and giving all these issues a priority. we'll have this fund, a very important fund, and the earnings that will come from this fund will be -- this fund will be invested where it earnings more. we will use the earnings of that fund to solve the chronic problems that brazil has not managed to resolve in the 20th century. we don't want to sell a crude oil. we want to sell added value products. we want to sell oil byproducts. so that's why we are building new for refineries in the

country. one of 250,000 barrels a day. another of 300,000 barrels a day. because we want to sell gasoline, oil and all the oil proulgts. so wow would you characterize the economy in brazil today? tell me about the life on the ground in brazil. what does the economy look like? >> translator: well, we still have a lot to do with brazil. but i believe that brazil is not experiencing a magical moment in our economy. very few moments in our past history where civil society has the certainty that things are moving forward and well. and this global crisis hampered a little bit our situation, because it was a shock. i had to go to the television to ask the people to buy more, to consume more, because the headlines in the newspapers were almost creating panic. so i had to go to the tv on primetime and say, if you don't consume, you're going to lose your job. if you don't buy, you'll lose

your job, because the store won't sell, and you lose your job at the end. the poor people started to consume more. i believe the economy is doing well. it has grown .9% in the second semester, which is very important, the second quarter. we're very optimistic for the 2010, i believe that the brazilian economy can grow 5% for the year 2010. we are developing a strong policy for the poor population. we are developing a strong policy because we are lagging behind 100 years in these areas. it's necessary that the economy grow. but at the same time we should make the poor go up the social ladder. so i believe that brazil is prepared for many investments. we have an investment program that involves almost $359 billion in the infrastructure project. airports, railroads, highways,

and so we have assumed the commitment at the peak of the crisis that we will build 1 million new houses for low-income brackets of the population, up to minimum wages. things are sound, moving forward. the construction industry is growing. consumption is growing. and so now we have to be very comfortable to make things continue to go well. because we can't waste the 21st century as we wasted the 20th century. it's important to remember that brazil was always a poor country. from 1950 to 1980, brazil grew at a growth rate above 7% a year. there was a year that we even grew 14%. more than china today. nevertheless, what happened. there was no income distribution in those days. those that were rich became even richer and those who were poor became even more poor. now we want to leverage the poor. because the better off the poor

lives of the business community. because the more consumers we have in the country, more companies we need to produce. and more investment are necessary in the industry and so on and so forth. >> my thanks to president lula. we will have part two of my exclusive interview with the president of brazil tomorrow on "the closing bell." at that time, we discuss the g-20 and trade. president lula also told me why free trade is so crucial in times of crisis. why he's concerned about rising protectionism. we'll get into that tomorrow on that exclusive interview. up next a lot of economic data will be released tomorrow. get you set up for tomorrow's opening bell.

here's what to watch for tomorrow. >> reporter: i'm sharon epperson. has consumer confidence improved? we'll get the university of michigan's consumer sentiment numbers tomorrow. it's expected to have increased to 17.5. that number comes out right before 10:00 a.m. eastern time. >> reporter: rick santelli. tune in tomorrow 8:30 eastern for durable good. last time around headline was basically 5%. transportation, once it's stripped out up 1%. look for a much smaller headline

number but ex-transportation number. tune in to see the number, 8:30 eastern. let's head over to the naimsf nasdaq marketsite across town. melissa lee stands by. >> hi, there, maria. on the top of the money on "fast" we'll be all over what could be the linchpin on tomorrow's tech trade that is of course research in motion. the conference call gets under way at the top of the hour. how to trade them and also a first on first cnbc. the biggest gainer on the s&p 500 today and that of course was red hat on "fast money." see you then. >> see you about the top of the hour, about five minutes away. meanwhile, hewlett-packard making headlines right now. this company has an analyst meeting going on. up next all of the details from hewlett and how one multigrammy-award singer is helping kids become leaders in their community and in business world.

welcome back.

multigrammy-award winner urbsermaking more than music here. the artist stopped by earlier to chat with me about the initiative he announced today. mobilized 5 million young people to encourage them and their peers to broadcast next leaders in business and in their communities. >> well, it is the opportunity to put the power of service in the pan. i wanted to use 5 million use and mobilize 50 million. this is an opportunity for our children to really make a difference. and if nothing you leave these kids motivated to do something productive because they go back into their communities and they're confronted by the realities of gang violence. they're confronted by the lack of education. and so many other things that just plague them. but yet for those two week, they feel motivated. >> my thanks to usher. he personally donated $1 million toward powered by service here

at the cgi. the hopes of the program is that through training of some 5 million kids, they will be able to reach out to 50 million overtime to address global challenge, like hiv/aids, gang violence, and providing access to clean water. real quick on hewlett-packard, headline just coming across on that analyst meeting. company says it's expecting 2010 earnings to be between 4.20 and 4.25 a share. on revenue it says best days are ahead. fiscal 2010 revenue expecting to be $117 million and $11 -- billion, rather, pardon me, billion. versus an estimate of $118. that'll do it for us on "closing bell." see you tomorrow. have a great night. "fast money" is next. thanks for being with us. research in motion shares slammed after hours as revenues come in well below expectations. "the wall street journal" reports a delay in the google book settlement hearing and oil prices slipped to the lowest levels since the end of july.

that's cnbc.com "news now." i'm sharon epperson. "fast money" with melissa lee starts right now. live from the end zone marketsite this is "fast money." i'm mellesa lee. bears taking over day two in this rally in the ninth inning or have traders got the answer in plus will collapse? joe's got an energy trade p that's still working but first get our big after-hours' story, rim, sliding about a 9% after-hours. we're also watching another big tech story that's crossed within the past ten years and that is guidance from hewlett-packard. 2010 eps, saying nongap is 420 to 430. the estimate was 425. smack-dab in the middle and on the revenues $117, $118 billion. rim is the big mover there and so let's go straight toward silicon valley bureau chief jim goldman for the latest on research in motion. jim, what is taking the stock down? >> reporter: yeah you know this disappointing on so many levels as far as rim is concerned. but let's keep some perspectnif mind here because just about any

other hardware company doing business today would kill for nease numbers. the company did beat on the bottom line. that $1.03 a share that we've been reporting versus the dollar expectation but revenue was a little lighter than expected. versus the $3.6 billion that wall street was looking for but looking at the key metrics here, the new subscribers and the shipments of units during the quarter also both lighter than expected. 3.8 million new subscribers and just about 8.3 million blackberries shipped. those are lighter than expected. gross margins were stronger than expected but if you look at guidance going into this company's third quarter and that is also a little disappointing. both on the eps, the revenue, the new subscribers, and unit shipped. all of that said, you wonder if rim is being conservative about its outlook because of the release date of some of its key products in the pipeline. or whether there's some softness in the marketplace that maybe folks weren't anticipating. that's going to come up on the conference call. the other thing to consider, we're watching a bunch of other