15567 and three quarters. nasdaq down but that's the 4:00 p.m. close. if you figure in that apple gain you're going to see a different kind of open i would suspect tomorrow. the s&p 500 tried as it might to get over 1700 didn't down three points today. that does it for the "closing bell." don't forget to tune in tomorrow when facebook earnings reports after the bell. "fast money" starts right now. >> live from the nasdaq market site in new york city's times square i'm melissa lee. traders guy adami, tim seymour, karen finerman anthony scaramucci and mike khouw. apple, broad bond akamai. we're taking position ahead of google's secret product event tomorrow. our tech story is apple on the

rise up almost five percent. earnings and revenue topping. the real story here iphone shipment of much better than expected, 31.2 million phones shipped in the quarter. guy? >> that's the key. you nailed it. we talked about it on june 28. we said you have a nice definable bottom. i don't think it would trade that low today. i thought the move we would going to see, what happened we talked about it last night. you want to split hairs, average selling prices of all four major devices were lower but gross margins were better. i think this quarter was good enough. again, i think people will look $146 billion or so in cash 36% of their market cap. that will come back into play. again, using that june low as your bottom it's okay here. >> i agree with guy. he was right on that iphones were the thing that was making -- it was sort of a relief value. the iphone number was great so that was really good. some of the other stuff was mixed. to me it's more about guidance which was --

>> not that great. >> not that great. but we need to hear the calls, see how that's going. for right now the iphone number was enough to have a relief rally. it looks like it was up 21 but really it was down 7 or 8 today. >> is that a short covering karen? >> i don't know that it was a big short interest going in. i think people were waiting to buy it. they wanted to see some sign and this might be enough. >> at what point are we going to take a look at the fourth quarter revenue guidance and say it wasn't good enough. >> i looked at that right away. we talked about the iphone. ultimately the fourth quarter guidance 34 to $37 billion, they're somewhere in the middle of the reigns that they said they were going to be in the top of. that's what led to the pop in the stock two weeks ago when people talked about the radio and some of the other parts of the apple cycle that we need

the catalyst that we need -- look margins are falling. when you see 31 million iphone sales, that means it's eating into the margin. it's going to go lower and they need new products. i think people are excited about products but in the fourth quarter a lot is expected. >> let's give kudos to guy for yesterday -- >> pete was saying it as well. >> you had the right call. i had the other side of it because i'm taking pete's longer term argument that there is something lack luster and lacking in the innovation story of apple. but this is another example of where the stock has gotten so cheap that you are saying any positive upside surprise you can see this kind of snap in the stock. >> that's a good point. all average selling price is lower. if you want to split hairs that's important. to your point about revenue, these guys are historic sand baggers that the market looked past for quarter after quarter for year after year.

>> are you saying they weren't going to sand bag anymore? >> that's fair. >> they stopped, they already did. >> this is once. >> to me this is about creating reaction. neutral top underweight this stock and that's why you're seeing this pop. the positioning in apple was geared for a very low bar and a bar that at least for this quarter, at least in the bread and butter business. >> the estimates have come down 40% verses a year ago. they were much higher one year ago. people were looking at 1202 and the estimates came down to 7 and change. talk about a lowered bar, as low as it can go for this squaert. >> 445 is a big level. let's watch this stock, see it get through that and see where it goes. >> on the conference call if you could ask a question of tim cook what would it be? >> to me it's all about innovation and can you slow the decline in margins. that to me innovation and margins. >> this margin came in right where they got it.

they talked about 36 and 37 and it came in 36.9. >> they said the third quarter is going to be a little better. they're calling for a floor in margins here. >> where is the ichip that's going in my brain so i can remember everything. >> that's going to cost a lot of money. >> particularly for me. but the point i'm making is these guys have got to come up with new products. google has a new product cycle. exciting on the horizon. they've got the thing that goes on your eyes the x phone, all kinds of interesting things happening over there and they're plowing their cash into r and d. when mr. cook when are we going to see that sort of excitement and those types of presentations that your shareholder basis is used to at apple. >> let's get more on the quarter. . darren is the co manager of assets. great to speak with you. >> thank you. >> if you were able to ask tim cook one question what would that be?

>> i think you guys hit the nail on the head. it's all about margins at this point. i've seen -- it is a top position but it's tough for me to wrap my head around the fact that the economics of the cell phone business would stay in the long term -- would be better than any other consume every technology device kind of in history. but, you know, look, the fact remains that they have shown the ability time and time again to charge premium prices and generate industry-leading margins no matter what business they're in. even if the margins do deteriorate gradually as they seem to be doing, how does the end result look like? does it look like the tablet business where they dominate the space and generate almost all the profits of the market or does it look like the computer space which is littered with dead and dying companies and yet, apple does a respectable

job there with very modest market share. i mean the key with apple remains that they have the ability to generate those profits because they have a fiercely large and loyal user base. they make great products. so as long as they continue to do that -- >> right. >> it's karen, let me ask you something. obviously you're a believer in this story. what are you looking for in this story? where are you hoping the stock gets to? >> nine and a half next year's earnings, i just believe with a three percent yield and the buy back plan they have in place, i just saw limited downside in the 430. i have a tough time believing that this thing is going to trade at multiples, maybe 12, 13 times. that would get you into the mid 600s. i think it has the potential to get there, not any time soon mind you, but i do believe that innovation is still engrained

into the apple mind-set and i think that you know mr. cook has made it clear that the next six to 18 months are going to be key when it comes to those new products. iwatch itv. who knows what's coming. that's always been the case with apple, things that you can't model but you can count on. >> was the iphone number as good as it looked? on the other side was the ipad number as poor as it looked or does it matter at this point? or is it all about the iphone? >> it's about the iphone. it generates most of the profits in apple. given that the gross margins were weak or in line at best clearly a lot of those phones were the older phones the 4s phones and that remains an issue. >> darren, let me get this straight. they're selling based on what you see in the margins they're selling more iphone 4sts, the older phone, not as many ipods as analysts were expecting.

do you think there's an engrained user base? do you think these are early signs that people are willing to not buy the apple ipad or buy a samsung or another competitors tablet? >> when you look at the metrics, they have been strong $4 billion in sales in the itunes, icloud space. these are people who put all of their most precious movies music, photos documents online. they're not going to go switch to the next hot product if they've already invested all that time and energy putting -- entrusting all that stuff to apple. i think overtime the key again is for apple to use that platform and find new and interesting ways to monetize that more effectively. >> we're going to leave it there. thanks for your time. appreciate it. >> thank you. >> tim, you sold out of apple at 435 or so?

>> yes. i'm short here. i think samsung is the one that apple is trying to chase. every hardware maker -- this is the difference. i would argue that apple is not a hardware company. look at the chinese names and they're under pressure. that is not going higher. this is an 8th inning trade in terms of the hardware side. >> if it's not hardware what is it? >> a software company. i believe these guys will generate significant cash flow and you want to hear about them giving money back to the shareholders. it was a great quarter for that. >> let's look at apple and how it's impacting after the session. we saw that way on technology over all. pull up the qs i would imagine that apple is having a positive effect on the nasdaq. in the meantime we'll check on qualcomm. why not? >> that's interesting.

here's a stock that's gone sideways for a few years now. now after this report with the lower end of that range but you can absolutely trade the stock against a 29 and three quarter, $30 low. those were the november lows. the report wasn't great. i think you're the lower end of it right now. >> the conference call is going to be particularly important in this one because pack crest was downgrading the stock questioning whether or not it's going to lose apple as a customer. bark clays said they did a teardown of the galaxy s 4 and found there was a qualcomm chip instead of a broad com chip. >> we thought microsoft would trade at 31 and a half. that seemed to have bounced. google did the same thing.

there is a chance given the tape that broad com could do the same. >> makes sense. >> let's go to josh lipton at headquarters monitoring the after hours action. >> melissa, we are watching vm ware. analysts expected 77 cents. revenue jumps 11% to $1.24 billion. looking ahead for the third quarter predicts revenue in line with the street's projections and raises the high end of guidance. the ceo calling the second quarter a strong finish to a solid first half. melissa, back to you. >> take a look at shares of emc. we are seeing a pop in them as we normally do. they trade in tandem here. >> i want to say it's tomorrow morning before the bell so effectively it's going to be difficult to trade right now. emc is a name that although we have had a series of highs, that

seems to be on the verge of breaking. the vm ware is helping. >> before we head to braerk let's get a quick check on after hours movers we are watching. juniper networks popping. third quarter guidance better than expecting. the ceo kevin johnson will be retiring. no word on who will take his place. norfolk down more than one percent there. the apple conference call now officially about 13 minutes in got the latest from the call and how to play it right after this. later on, cigarette stocks getting hit today. are they about to go up in smoke or is the yield slower? >> did you write that? >> no. carl icahn had interesting comments for karen finerman.

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that intrigues me. it appears it's an agent of good. ♪ ♪ [ agent smith ] ge software connects patients to nurses to the right machines while dramatically reducing waiting time. [ telephone ringing ] now a waiting room is just a room. [ static warbles ] >> the apple conference call about 16 minutes in. let's get the latest with julia boors stin. >> peter oppenheimer is talking right now.

he talked about the strength of the iphone saying the iphone sales were the strongest june quarter on record. revenue was up one percent. he talked about how the company is managing inventories better saying that inventories declined and the june inventories increased by $2 billion or 6%. so that was a point of concern for analysts addressing that inventory management. now, he did say that while the iphone sales decreased, it was ahead of expectations. he talked about the popularity of the iphone it's the most popular let. he said that sales of iphone in japan were up 60% year over year making it the leading smart phone in japan. he addressed the ipad sales, saying they were a tough year and he talked about the sales of the mack. mac sales declined 7 percent. he pointed out it was stronger than expected and is outperforming the decline in the total computer marketplace which

indicates that macs are gaining share. a couple moments ago they talked about the success of the new education business saying that apple's education business had its best quarter ever and then they moved on to talk about the success of the itunes store saying it was the best quarter and month for billings. that would be a combination of sales of things like music or tv show or movie downloads as well as app downloads. >> keep us posted. meantime let's look at how apple is affecting what we might expect in the tech trade in tomorrow's session. we see a little bit of a lift in the qs here in the after hours session. a lot of the apple suppliers, you mentioned broad com, a lot of the apple suppliers are trading higher on the back of these earnings. beyond these also try quint is a mover, sky works solution is also moving higher in the after hours. meantime time to hit today's top

trades. pea body energy getting a big boost but total revenue fell short of the street's expectations. >> they made money and people have been concerned about balance sheets. their output was up nine percent again. they lowered their cost of met calls. but we have a case where coal supply is rising and demand is not. i still think coal is a buy here. >> next up defense sector index climbing to a fresh all time high for the fourth executive day. utc, lock heed martin all hitting multiple year highs. >> the lock heed martin quarter was -- they really smoked it. their guidance given that quarter was okay it should have been a little better but the stock has been a performer. i don't think you have to chase it here but if you want to be back in the names, yeah lmt, we

talked about a number of them. they still work. >> netflix dropping today despite an earnings just 700 k. karen? >> not surprisingly, i couldn't get into it here. even with the beat the bar is so high at this point that it's hard to see how they really surprised to the upside. the beat wasn't good enough and they start to approach that 30 million subscriber, is that some sort of crueling. >> i want to get to your conversation that you had today with mr. icahn. >> i called him to say basically he did a great job at the conference last week. i thought he was fantastic and we were talking about governance things and he said i'm getting on twitter. he gave me his handle and said i want to do a treasure hunt on twitter. so i'm going to send out a clue

to what my next investment is. >> you're kidding. >> this is what he said. i said when. he said i'm not going to tell you. just watch and see what the clues are to this treasure hunt. that will be the next big investment. i said okay carl. i'm a follower. i think we have his up there. >> tens of thousands of others. that's his page nothing yet. this is a live picture of his feed. if a clue comes across -- >> we'll be ready. i'm looking forward to it. >> carl is a great guy. take a look at carl karen and me at the delivering alpha conference last week. >> that was fun. >> he was fantastic. that was a great time. >> twitter is a place where people truly believe they are getting information first. that's what's going on right now. it's interesting to see the twends of where the stocks is

moving. >> there are a lot of investment professional out there who will not be able to see mr. icahn's tweets because they're not allowed to be on twitter. >> goldman sachs had a thing called yams. they connected automatic trading desks and the equities floor to each other and information transpired on those. >> anthony blocked me. >> no surprise. i would block you, too. >> i blocked you because of the nasty stuff that you were sending. >> was it just you and lloyd? >> me and lloyd. >> the reason i'm bringing this up, look for twitter to professionalize a site inside of twitter for this sort of activity for financial services. >> we saw it with netflix where he released information via twitter. >> that's a okay. so tune in of course at carl

under score c underscore icahn. >> the real carl. >> yes. sticking with tech, specifically t stories sure to rule tomorrow. google is expected to host a product event at 12:00 eastern. here to break it down is ken, the managing director the ever core. thank you for being here. >> thank you. >> the noon event for google what are we expecting? >> we don't have inside information but i would say a lot of the speculation based on what we are seeing is a new flavor of the android. most likely key lime pie, a nexus device nexus q rerival there. basically it's all speculation. >> is that exciting from a stock perspective? >> no. it's more interesting that they're choosing facebook's earnings day to announce it. maybe it will be something related to google plus.

we'll see. at this point there is a lot of excitement around google in terms of the products that they are doing and we're really looking more to second half estimates and i think when enhanced campaigns will start to kick in. >> for facebook you're neutral? >> yes. the comps look very difficult. for last year half of those engagement went to mobile and then they got it back. the comps became difficult i think as you look to last year. but i think still when we're looking at estimates now it seems like you're really only looking at a gradual deceleration to the back half. we're excited about a lot of things that underlie facebook but we're still serve nervous there. >> if you are neutral on the stock, wasn't this the whole question of being for these guys and survival. if you don't think they can hit

that further down the road. >> i don't think mobile is the question. there's not a question now from facebook monetize mobile. i think they can do it well but is that working well for advertisers and the consumer. that's a question mark there. the idea of social advertising has changed in the last year. we thought of facebook as being the place where your friends would recommend what to buy. increasingly it's really based on the data that individuals are providing to facebook and how that data gets married to data that's off of facebook and the ability of marketers to retarget. there are a lot of exciting things that they're doing but that's still a small percentage of that are overall advertising. that's speaks to the bigger question of whether or not there is a positive roi. >> go back to apple for one second and google. do you think google has any products out there like the x phone or something like that that could kill the iphone. >> they're excited about their product pipeline. if you listen to the call

comments they will lead you to believe that something big is coming in hardware. exactly the specifics of it i don't know though. >> ken, thanks for coming by. >> my pleasure. >> in terms of facebook guy? >> it's not a company that i have loved but when it traded at 22, 23 that felt like the bottom. it's sort of been trending higher since. i think there's upside opportunity in the stock although long term i think it's a disaster. i wouldn't be surprised to see it trade 28 29. >> after hours movers apple. at&t. what you need to know ahead of tomorrow's open. ail tree ya shinking. should this be cause for concern. we've got a smoking hot street fight. that's next.

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>> welcome back to "fast money." i'm josh lipton. at&t reports eps clocks in here x items at 67 cents which misses by a penny. revenue of $32.08 billion. better than the street anticipated. analysts thought you would say $38 billion. melissa, back to you. >> thank you, josh. guy, how do we trade this one? >> there's a lot of noise in this but the total net adds on the wireless probably came in light. the stock doesn't seem to be reacting which i think is an encouraging sign for at&t. it's been one of these things that grinds higher. this selloff, again i hate to use the word but i think this is the chance to buy it once again.

if the stock doesn't get whacked on these numbers, you have to dividend that works. >> it's a five percent yield today. >> altria lowered. is the smoking story burning out or high dividend yields enough to keep these stocks on fire. >> there was a paper out today pointing out that menthol cigarettes may be under pressure. this is actually one of their most popular brands. guy, what movie by the way was who put out the kools on my rug? trading places. there's no conclusive follow through. this is a weakness that you buy. their numbers showed that they have a diversified earnings model. there are four or five companies under the umbrella which holds

the first largest beer company in the world. ultimately this is a name that is resilient. their growing earning roughly from last year and they're going to 20%. you have a company that's giving you money every year -- >> it's karen's turn now. >> i used to own month. actually i don't anymore. the story then was what happens when volume turns and we see a decline some smoking. this data today actually told me that this might be the time. they have declining volumes which is worrisome. declining margins which address the issue tim brought up about mix when you have people shifting to a lower priced alternative they may own. even with all this the valuation is not cheap.

it's not like it's screaming cheap. you have a nice dividend. >> how about e cigarettes. >> mike khouw in the options market, what is the verdict? >> today we saw a lot of puts trading. lori lard was probably one of the best ones. a lot of bad news is out in these things. lori lard was in the 40s, a ten percent discount. i'm going to go with karen on this. >> they have had these headwinds for decades and look where the stocks and earnings have gone. that's yesterday's news. >> we'll let the people decide tim. tweet us at cnbc "fast money" using hashtag bull or tim or hashtag bear for karen and we'll have the results at the end of the show.

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>> welcome back to fast. we are live at the nasdaq market site. let's check in with julia boorstin. >> the q and a is going on right now. tim cook is actually talking about china. first i want to get to the new products. there are a lot of analyst questions about new products when we can expect to see them and what that would do to margins. the company said they don't want to release anything until they announce the new products in october. that's the next time we'll get nus on products. a couple other points i want to bring up that tim cook spoke about. he does not believe the smart phone market has hit a peek. it's optimistic at least room for growth there. he gave an interesting stat

about tablets which speaks to the power of the ipad. in the conversation about china he's talking about sales in hong kong down more significantly than mainland china. down 20%. in mainland there was growth but he attributed the decline in overall china to the weak economy. it's interesting hearing him talk about how important china has become for the company and what it can do to maximize the potential even if the economy isn't as strong as it once was. >> we're in the midst of the biggest earnings. let's gear up to what we're looking at tomorrow. ford getting removed from goldman's conviction buy list last week. tim? >> this is a stock trading not

terribly cheap. ultimately the chances for surprise come from europe. this is a place where a lot of the guys are looking for a turn around. north america will exceed. the guidance will be reaffirmed. you may get 60 70 basis points of uptick. it's gotten down to that level and i think the street is looking for something decent. i think the bar is relatively high. >> boeing slated to report earnings tomorrow. the stock has shaken off news surrounding its 787 dreamliner. >> this stock started in the 70s with the bad news and here we are at 105. the most recent run that completely shrugged off. they don't get enough credit for military aircraft. i think boeing is going to surprise a lot of people again above 110 i think this thing is off to the races. >> finally when jim chanos talks, the street listens.

>> we are short caterpillar. iconic american company, leader in its class but tied to the wrong products at the wrong time in the cycle. an amazing american success story down through the decades is going to be facing a series of super commodity headwinds that i don't think its supporters really appreciate. >> caterpillar is down about three percent since he picked the company as his best short idea. they report q earnings tomorrow morning at the bell. anthony? >> obviously i disagree with him. hewlett packard last year but i agree on caterpillar here. there is a flawed revenue model. you have a management team that have made a ton of acquisitions. this is what he was saying about hewlett packard last year. the management team changed and hewlett packard got it right.

caterpillar is going to get it wrong. they could be the loose ent technology -- >> wow. >> so i'm saying it. you want me to say it again? >> yeah. >> this could be the lucent technology of 2013. >> this is cat pittererpillar we are talking about. >> look at this country. talk about their business model. >> i don't want to go against jim chanos on this. take a look at the leverage in the system at the poor acquisitions and you will see a deteriorating earnings model and see this thing resizing. let me say something for viewers so they know, this quarter is going to be a big quarter. >> who were you saying it to before? >> just us. >> just making sure. i was arguing with him. >> we should note that the ceo

of caterpillar will be on squawk box tomorrow. it will be interesting to see how he responds to jim chanos naming cat as his top short idea. meantime three quarters of the companies have beat or matched street expectations. let's talk to finance professor and market bull jeremy seigel. great to have you with us. >> happy to be with us. >> you are known as a bull. when you look across the economy is there one or two things that sort of could be the wrench in your bull thesis? >> oh, yeah. i mean there's always things that could go wrong. we're looking at earnings and as you just mentioned between 70 and 75 percent are beating. that's a little bit above the average. this quarter's earnings look to be now 4% above the previous quarter. next week i think we're going to get a zero handle on gdp growth.

europe is still negative. i think that's remarkable to even get 4% in a quarter where economic growth is pretty close to zero. if we get the acceleration that mm economists and ben bernanke think in the second half of the year, we should see stronger earnings growth. i think equities are the last major asset class to sell at or below their long term value. i'm very very bullish still on stocks. >> profession seigel it's karen. i want to ask you the opposite question of what melissa just did. you were right to be bullish. you were ahead of the market. but what could make you even more bullish? what could surprise us to the upside? >> well, i mean again, if we get earnings growth you know above 4% 5% 6% 7% and interest rates stay stable -- a lot of people say i think now

that the market is comfortable with anything 275 or under on the ten-year and we've actually fluctuated around 250, that's a comfortable number for the market to continue to rise. listen, if bonds shoot up to 3, 3 and a quarter for some reason that's going to take another period to digest the higher yields. at least right now that doesn't look to be in the cards. >> quickly, the eps growth that you cited, the buy backs, does that factor in at all, scare you at all? skew these numbers at all? >> buy backs create earnings per share growth even if you didn't have revenue growth. actually my understanding is that over half this quarter have actually beat revenue estimates and we've been falling short over previous quarters. actually that you can get revenue growth without the buy backs i think is a positive feature for the earnings and

valuation going forward. >> thank you, professor. >> thank you for having me. >> ultimately i think what a lot of this rally has been is about infusing confidence back in the consumers so the wealth effect of the stock market and the housing market is what is doing it here. the places where you have the best benefit, if this real growth is coming you been buying cyclicals and industrials that have been beaten up. people have been comfortable buying the retail and consumer names. >> don't buy cat. >> lucent. >> shares of dupont trading at a ten year high after beating on the bottom and missing on the top. karen finerman gives us the fine print. apple giving a bit of a boost here, still up only about a third of a percent. apple shares higher by 4% at

this hour. stay tuned.

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delivers eps of 174. revenue of 589 million dollars. >> disappointment. >> listen i'm not saying short pan era because it crushed a lot of people. the stock has been unbelievable. if you have been long and enjoyed this rally, i'd say get out of at least half of your position. their comps, their operating margins going forward, they guided basically to flat. that was a disappointment. the comps across the country are really bad. i think it's about comps, margins, when those go south be concerned. i'd get out of this name tomorrow. like that? >> like that. dupont trading at a ten year

high after reporting better than expect earnings today. the stock trading up nearly 6% in the past week after comments on investor nelson peltz at cnbc's delivering alpha conference. listen. >> i learned literally in the past two hours that you have just amassed and are kernting to amass a very big stake in dupont. can you comment on that? >> you asked me in the green room about ten minutes ago, if you say dupont what comes to mind. do you remember what i told you? i said paint. >> all right. so he says he has a big stake in the company. how should you trade it at this point? >> i'm not sure if he said -- andrew said he had a big stake? >> yes. he confirmed it by not denying it. >> he's a great investor. it makes me wonder what can he do at dupont. one of the things you suggested

last week was whether there will be a sale of titanium dioxide. that was interesting. i'd love to see how much he really owns. the best sort of defense that this company has is how big it is. at 50 some odd billion in market cap, he needs to buy $2.5 billion at least. that would trigger a 13 d filing and we get to see what he's up to and why. that might be too big even for him. really the next time we may see if he has a position would be in his 13 f filing which would be august 15th and that would be the normal 13 fs that we always file that you need to announce any stake that you have if you manage more than 100 million dollars. i wouldn't chase it but i think it's interesting here.

>> the board is not staggered meaning the whole board can be tossed out. >> yes. it could be difficult given the size but it could. >> so he owns no stock? >> we don't know. >> i'm saying if he owns no stock you still like it? >> i do. except that i hope there wouldn't be a nelson peltz premium to come out. >> mike khouw, in terms of the options market are people playing for the upside? >> they were. it traded three times it's average daily volume. the top six were all calls. these are going out in time. the most was the october 60 ds. they were risking two percent of the stock price to make a bullish bet. this stock is obviously seen some tremendous tremendous rallies other the course of the last couple of years.

if you want to make a bullish bet, buying calls is a way to do that. >> come up next not so fast guy adami, we're talking a check on a bullish call you made on blackberry back this may. where is the stock since then? we've got an update. that's next. ♪ ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ ♪ all on thinkorswim. from td ameritrade.

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>> reporting an apple's earnings call cfo peter oppenheimer fielded a question about apple's product release cycle and he didn't reveal anything specific about products in the works but he said, quote, we are on track to have a busy fall. i'll go into more detail in october. we'll have to wait until october. tim cook ceo of apple addressed some headwinds that the company is facing. there will be some fx pressure in the quarter, particularly against the yen. component costs will be more favorable in the current quarter. >> who won the street fight? karen finerman did, the bear

case. final trade time tim? >> i bought altria today. i'd sell the ewd. >> anthony? >> i look google here. it's an exciting product story. >> karen? >> trade with guy. >> psx rallies tomorrow. i'm melissa lee. thanks for watching. see you back here tomorrow at 5:00 for more fast. meantime "mad money" starts right after this break. [ moritz ] most teachers and educators believe their students need financial literacy education. but the funding, resources and curricula are often not there. pwc is doing something about that. i'm bob moritz u.s. chairman of pwc. pwc's earn your future is a 5-year $160 million commitment of funding, volunteer hours and curricula to help provide students with financial well-being.

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