where multiyear stocks sell off and prolonged recession has muted the return for equities. as they say, there's always a bull market somewhere and as some say ours has stalled, europe is where smart money is betting. that will do it for today. we had a tough day today. we'll boo b here tomorrow. fs money begins right now. have a great night. i'm melissa lee, our traders tonight are -- let's get straight to the big story. retail wreck. consumer names dragging down the major averages. investors now have to brace for poor retail earnings tomorrow. so karen, you went in and used a weakness to buy more. >> yes, have a large position going in which we did, but i really like macy's it was the

guidance that was disappointing. and you know i feel like macy's is the best in class, so if macy's is missing, that makes me certainly concerned about some of the other names, so we bought macy's trimmed a little bit of our target. put on a little bit of a kohl's put position and added some one p by two jc penney puts so put up very little. >> there's glimmers of hope though in what macy's said in that women's ready to wear was showing strength and pack to back to school was kind of positive. >> one of the only retailers that saw that. when we see the other retailers up there, particularly what you just mentioned, they are thot doing that well and it concerns me. gasoline up today. i would be concerned about a

high-end like a tiffany. if we get a taper, that is going to affect the high-end consumer. >> we saw coach kick it off a couple of weeks ago. the stock got slammed. rl, then moved its way to this kind of team apparel segment and these things got slammed. even gap stores, so to me, what i find interesting of this stage is that we thought we were kind of out of the woods okay with the q2 here. a lot of head winds heading in and earnings weren't as bad, but this stage of the game to see these weak retail numbers -- >> we are watching a drop in the after hour session, this on the back of releasing their forward guidance on the conference call which got r started about half an hour ago. they're expecting revenue growth of around 3 and 5% versus the 5%. they're lowering expectations.

stock down by 8.7%. there's a lot of optimism concerning cisco all posting decent numbers, which made a lot of people on the street believe enterprise network spending was going to be recovery. >> in cisco, buyers august 28 and 29 calls, so really quickly and in september, it was really weird and almost like a panic. someone liking to get some protection on a short or play for a quick pop. >> want to go to jon forte in silicon valley. >> a number of things. cisco says they're cutting 5% of their global workforce beginning in q1. gap eps will be affected minus 16 to minus 20 cents. compared to nongap eps based on that and putting a little color on that revenue shortfall in the

guidance 3 to 5% revenue growth and analysts wanted around 4.2. a number of puts and takes. india was up. they continue to have trouble in china -- asia pacific seems to be difficult for them. they talk about northern europe good southern europe, still a struggle struggle. they were saying the enterprise was soft which is a concern and service provider in japan and some other geographies also difficult, but then federal, the federal market is coming back a little bit. they hit their numbers revenue wise for the current quarter. and that's certainly hitting the stock along with these cuts their making. >> thanks for the update. keep us posted. we are watching cisco shares

fall below the $24 mark at this time. we're also seeing the kroscrossing net work sector. juniper, fi, river bend, they're all trading lower. the qs are all seeing a bit to the downside. we said for a long time cisco is no longer a bet bellwether, but is it at this point? >> i don't know if you could say it's still a bellwet r or not. the fact is it's been performing quite well and the chart looks great. so if we start to see a break down here, it starts to make you think is retail the canary in the coal mine and are things going to get sloppy. zpl i was talking to guys today, currency traders talking about cisco and wh or not, talking about the capital expenditures that's going to happen here in the u.s. and whether or not that would relate to gdp obviously making the dollar go higher. it has become a bellwether once again and you've got to be concerned about this for the broadest market. the only way they're going to

get their profitability is by cutting back. >> one point on the enterprise spending. cisco had been bucking the trend. we saw it out of ibm, out of oracle two months ago. weak enterprise is not a surprise and the bellwether thing, it is by all means a bellwether here. the stock is trading back down to the level it gapped up from last quarter, so this is probably a pretty decent level. >> you'd go in. tomorrow you would do that? >> i think people will buy. if it's as low it's 23 i think people will scoop it up quickly. >> market was weak today. definitely showing cracks so this is a sign that things are getting sloppy around the edges on a lot of different sectors and you might want to take a couple of days. for people out there, you don't go in on the first day, you wait. he's quick enough to do that. most people aren't. >> good point there. again, cisco down about 10% in the after hours session. we'll keep you posted on that conference call, about a half an hour underway.

let's get more on the retail slump. great to have you with us. is there a knock on a effect? does macy's represent what the whole industry is going through at this point? >> i think karen's earlier point, macy's is best in class. if they're having trouble, what's happening with the rest? we've seen a bunch of negative pri preannouncements. just across the board, all the numbers we've heard so far are disappointing for the second quarter and i think there's some sense that the back half numbers are coming down. macy's not so much but i'm concerned about it. >> if terry lundgren saez says the early read -- to promote more in order to keep that momentum going. >> well,s it's very early. their inventories are high and i think they're planning to

promote. also a lot of increased ad spending, and that makes for a more competitive situation for others who don't necessarily have the bankroll of macy's. >> in that competitive market, macy's, who -- i think people think that's a place to take care of it. but how does it play out between maybe kohl's nordstroms? >> the consumer is finding better values elsewhere. that's really the share loser in my mind, but the thing that was concerning for me for macy's was thing fact they saw center court as weak. cosmetics, jewelry, watches and footwear. i'm worried about this for nordstrom. another kind of best in class, but if macy's is seeing it both macy's and blooming dales. >> how about the weakness tht fact there's no fashion trends. you and i share a common friend.

>> i thought you were going to say common fashion trend. yes, we both love skirts. >> his feel was colored denim has been a fashion trend for the last couple of years. you don't have that. so why go for apparel? >> bottoms are, colored bottoms last year were very important. didn't know where i was going with that. >> a guy who still wears acid washed jeans. >> colored denim was really important. typically, if you buy a couple of jeans, you buy tops with it and there's really nothing to follow it up with. i think that is something we're hearing from retailers. i don't see a lot of reason to be terribly long apparel. accessories are still outperformancing, but now, to a lesser degree. really, the back half is not looking great. >> so, if you're concerned now about the weakness and softness that others are seeing in cosmetics and watches and hand blg bags, does that translate into concern for a coach, a

fossil and on and on? >> handbags was the one bright spot. there's a dynamic that continues to play out. i don't cover core, so i won't play in but handbags was a bright spot. fossil in the watch cycle, that's something we're concerned about and have gotten more cautious on fossil going forward. >> we're going to leave it there. thanks for stop ingping by. ryan kelly. >> i'm city thinking about that. grasso in a tube top. >> terrible. >> i don't want to think about that, but now, i'll i guess ill. >> again, i think the space is very challenging. very concerning on the big picture macro scale here. liz was just talking about it. the only thing really performing is handbags. >> coming up next we'll lay this on where the world's most closely watched investors are putting their money. plus why a top wall street strategist is saying the rally is cooling. his top plays dined to take the edge off and apple, their best

three days since 2010 since carl icahn's market moving tweet. how twitter is changing the way we invest for ever. this is my large lecture hall. this is my professor. and also my coach. this is my booster club. this is the guy who's graduating ready for a great career in technology. [ male announcer ] in 2012 90% of devry university grads actively seeking employment had careers in their field in 6 months. join the 90%. learn how at devry.edu. if you're serious about taking your trading to a higher level tdd#: 1-800-345-2550 then schwab is the place to trade. tdd#: 1-800-345-2550 call 1-888-284-9410 or visit schwab.com/trading to tdd#: 1-800-345-2550 learn how you can earn up to 300 commission-free online trades tdd#: 1-800-345-2550 for six months with qualifying net deposits. tdd#: 1-800-345-2550 see how easy and intuitive it is to use tdd#: 1-800-345-2550 our most powerful platform streetsmart edge. tdd#: 1-800-345-2550 we put it in the cloud so you can use it on the web. tdd#: 1-800-345-2550 and trade with our most advanced tools tdd#: 1-800-345-2550 on whatever computer

you're on. tdd#: 1-800-345-2550 also, get a dedicated team of schwab trading specialists tdd#: 1-800-345-2550 who will help you customize your platform tdd#: 1-800-345-2550 even from the comfort of your home. tdd#: 1-800-345-2550 and talk about ideas and strategies, one on one. tdd#: 1-800-345-2550 get all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 call 1-888-284-9410 or visit schwab.com/trading tdd#: 1-800-345-2550 to open an account. tdd#: 1-800-345-2550 and learn how you can earn up to 300 commission-free tdd#: 1-800-345-2550 online trades for six months with qualifying net deposits. tdd#: 1-800-345-2550 our trading specialists are waiting to help you get started. tdd#: 1-800-345-2550 so call now. tdd#: 1-800-345-2550

welcome back. the world's top investors, let's go to kayla. >> today's the 45-day deadline from the second quarter when money managers have to file their positions and when these investors do file, the market moves. start with nelson pelts management. it added a 5 million share stake in dupont. it's confirming our suspicions before other positions in auction house sotheby's adding two positions there. also bullish on financials adding to lazard and state street. leon cooper added to his stake in apple, thinks the new phone will be a positive catalyst. cooperman, one of several adding to 30 million shares and now has a stake of 95 million shares. tiger global added stakes in news corp. and amazon but

dissolved stakes in apple and jc penney and cut two-thirds of its position in grupon. it bought a 10% stake in the economy last fall. it's actually a rental car space in avis budget. rental cars were also hot at blue ridge capital. it sold part of its investments in aig, netflix and liquidated its tesla stake entirely. we've only seen five filings hit the sec website since 3:33 p.m. it's been pequiet. after hours, there are normally dozens of these filings. i called the sec to see if there's a technological issue, they said this is abnormal, but

they're looking into the market. >> thanks to you from headquarters. typically like to look at -- >> to me, that avis buy was certainly something to look at and he's just been great for years and years and so absolutely love to look at. hopefully long time will do that. >> and i think look inging at the car rental space is great. we talked about the airlines last night. obviously, once you get off the plane, you need somewhere to go. car rental place rs the place to go. >> added to his position in apple at the same time. what's the strad here at this point? >> i think you still have to bait for the smoke to clear. icahn blew that away. a lot of these things start to happen as it's really happening before people tweet.

you never know. >> let's move on to our next trade. we are midway through august and have yet to see a market losing strike longer than three days. for more let's bring in steve white. good to see you. you do expect some sort of a slowdown in this rally we've been seeing. >> i think it's pretty clear we had maybe six years since world war ii where returns have been 28% or grow inging at a 14% first half t. odds of this are against it. and there are some signs of come play sennsy. i think we're close to record highs. we think this year earnings for the s&p 500 will be 30% higher where they were in 2007. we're right here about 7% higher than where we were in 2007 level, so for all of the talk of qe impact, valuation has fallen in the age of qe and so, aside

from short-term issues, you know, we would allocate equities clearly over fixed income for year ahead. even if less returns were not as robust. >> we wanted to go to jon forte on cisco systems. >> john chamber is giving more detail on why cisco is taking the relatively unusual step of cutting 4,000 workers about 5% of the workforce and this relatively soft revenue guidance. he said if -- some areas strong others weak. not really clear to them ahead of time which are going to be strong or weak. the switching business overall looks pretty strong. the routing business, relatively weak except at the edge. chamber saying he's determined to deliver on the commitment to cisco's financial model, despite what's happening in the broader macro environment and in order to run a good business where he's committed to earnings

growing faster than revenue, it necessitates this at this time. he said those people in the 4,000 git getting cut may get hired into different areas. also, making decisions more quick quukly having too many -- so it sounds like this is a bit of a restructure along with cutting down costs. >> two careers ago, didn't cisco embark on a massive restructuring to eliminate the layers of bureaucracy and to make decision making faster? >> yes, they did and it was kind of a big deal then because john chambers has talked about not liking to cut people and here they are doing it again. this time, he's couching it as hey, we're not going to let the financial model get the way we did before and in order to do that given the uncertainuncertainty, we're going to do that. >> thank you.

again, siscisco systems still down almost 10%. want to go back to steven of city private bank. one thing really jumped out in terms of what john chambers was saying, that is the inconsistency of global gdp growth. what are the best markets to be? >> it's still a messy global economy, at least looking back where europe has been remarkably soft. the u.s. just absorbed the largest tax increases and spending cuts since at least the 1960s. we think it does better in the absence of that. we're starting to see more signs, global pmi with europe u.s. china, all above 50. for the first time in a while. looking forward, i think we might see more consistency. >> i'm a little confused. you said the second half is going to slow down. you seem to be one of the more bearish on the street with that. >> really? >> everybody i'm looking at is

telling me it's a second hand story. so what i'm curious about is one, what are you seeing that makes you less enthusiastic and two, why would you allocate ek wii wiities in that? >> i think growth will be significantly stronger in the u.s., gdp growth. markets are ahead of the economy. they always are. you had remarkably low volatility. double digit returns in the first half of the year. people thinking you're due for a positive return every single day in that environment. now, you see very low costs of hedging. very low stock to stock correlation, which means that people are comfortable investing and that's the kind of environment where you get some pullbacks. the last three years averaged 15%. still had positive returns for over a year. if we had no valuation gain just a flat valuation of the year ahead, our estimate in equities would give you a 9% return. we would be negative on ek wii

theties. >> you like strong, undervalued energy companies as well as disstressed european and real estate assets. >> all sorts of markets that are not correlated to headline indices stocks and bonds. market's up 2.5 since 2008. >> thanks for coming by. big movers of the session, we kick it off with a pop for steinway musical. >> closed at an all time high today. looks like this one has been bending about a little bit. there was another buyer, they accepted the deal. >> freeport mack. >> the weight to capture that performance is to go for these other performers. that's the way they're going to make up ground. >> pea body energy was up 4% today. >> grasso just mentioned that people are starting to chase these underperformers. had a couple of stories today,

one natural gas has been strong the last couple of days. not only that, there were talks about price increases. just got these underperformers going. >> moody's, mco, down 5%. >> i think it's due to the outlook of more bond offerings slowing down with rates having backed up and they made fees on every bond offering. >> and a pop here for the downward facing dog. one italian -- is challenging the dogma that canines can't practice yoga. this italian chihuahua is a model yogi following his owner into the snake's pose into the cobra with ease. the medicating mutt has more than 1 million youtube views. dog's just sitting there. that's lame. any way. let's take a check on shares of cisco systems the need to cut 4,000 jobs for oo pa% of the workforce to make cisco a faster decision making progress down

9.4% now. revenue growth below what analysts had been expecting. up next, what the smart money is telling us and carl icahn's decision to divulge his huge apple stake in a tweet. much more fast straight ahead. [ male announcer ] come to the golden opportunity sales event to experience the precision handling of the lexus performance vehicles including the gs and all-new is.

♪ ♪ this is the pursuit of perfection.

before their gift helped preserve the point... before a credit solution was used to expand their business... before trusts were created for their grandkids' educations... they chose a partner to help manage their wealth... one whose insights

solutions, and approach have been relied on for over 200 years. that's the value of trusted connections. that's u.s. trust. [ male announcer ] come to the golden opportunity sales event and experience the connectivity of the available lexus enform, including the es and rx. ♪ ♪ this is the pursuit of perfection. take a look at how the tech trade looks to open tomorrow's session. down about six tenths of one percent. this on the back of the cisco

news. as the revenue forecasts this came in below, 3 to 5% of growth and expecting 5% to cut 5% of its workforce or 4,000 jobs. 23.82 was the last trade. meantime, the bond market is called the smart money. some are looking from the credit perspective. angela we want to start off -- stock has not -- what are the bonding telling us? >> the bonds have calmed down. the 565s and 20s have traded up about three points. this is something you're really looking for in the band markets. a shareholder missed out, what it does is really allows management to do what they need to do and the bond market is calmed down and much happier about that. >> i think though this is the calm in the middle of the storm.

coming out august 20th that would be the other end of the storm and right now, we seem to be in the eye. >> certainly, we're, it's not like we jumped ten points. only about three points i would say. looking forward to earnings next tuesday, everybody is wait ging and watching to see what happens, so definitely from a standpoint of that, a bond market has stabilized. we are up from the lows but certainly looking to earnings as to what to do next. >> and let's talk about the airline mergers. the bond market is suggesting at this point what about the odds of the merger going through. lower or higher at this point? >> we think lower. this is a huge story for the bond market. it's over 15 million in securities that are affected debt securities between usway

airways and american airlines. traded down about five points on the nu sews and that's expected. that moved it from 7% to 8% yield. but the biggest news has been actually in the amr securities. and everybody in our market is is definitely watching the aamrq equity which traded to the 267 area. most airline bankruptcies the equity gets wiped out. this is showing us about a 50% chance of the merger going through. but what's interesting is what's going on with the bonds. so beyond what's going on with aam are rq, aamrq, we're watching the am. this one traded down 20 points in the last 48 hours or 24 hours. that's a big move. that's big move. even more so that's expected. even more so what we're watching is for some clue as to how what the percentage chance of the merger going through is

so looking at our particular shop, we trade trade claims, this is any money that's youed to owed that amr owes the food and beverage providers or under the claims. the trade claim market is a very sophisticated market. this gives investors a clue as to what the debt guys are thinking and i think for these particular claims securities they're trading in the mid-60s. the mid 60s is pricing in a less than 40% chance that the merger's going to go through. so from a sophisticated investment perspective and under the radar that investors at home may not be seeing -- >> much lower. thanks for stopping by. airlines and scott, you noticed a big trade in ual. >> that's right. many think that airline consolidation is going to be bad for all the airlines, but one thinking that having weak and separate is going to be good for united, but united's had a good

tough couple of days. they bought a bunch of calls to do that. they bought 5,000 of the 30 strike calls, paid $3.30, meaning they're break even. they expect the stock to be well up there january expiration. yesterday, united got below 32.75. they think that move is overdone and they're looking for a revisit of the high of 36.31 at the end of july. >> scott, thanks for that. options action. up next, the fallout from a tweet heard around the world. the ceo's stock twits is on the way to weigh in on carl icahn's decision to reveal his apple stake on twitter, but first, the gloves are off on whether google can break out of its slump. straight ahead.

♪ ♪ [ 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. [ kitt ] you know what's impressive? a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ ♪ after all, what's the point of talking if you don't have something important to say? ♪ ♪

welcome back to fast money, we're watching net app, the data

storage company which is falling in the after hours. that's a beat. revenue of 1.52 billion. that's basically in line, but q2 revenue guidance is slightly conservative here. that stock down about 4% right now in the afterhours. melissa, back to you. >> thank you very much, josh. we should note that conference call is getting underway. just at 5:30 p.m. eastern time so we should get more details here, but combine that with cisco systems which is down by more than 9%. we are seeing pressure on the nasdaq, on the tech trade. we might see that pressure in tomorrow's session. meantime, it is a name we love talking about here on fast money, but google has been in a slump. the stock was down 5% underperforming both the s&p 500 and the tech sector. does a pullback represent a buying opportunity or is this there more downside ahead? bk is the bull. >> down -- >> dan is the bear. 90 seconds. >> those are the times that you want to start buying stock.

let's look at google and what they're doing. number one, they are the federal reserve of the stock market. they just keep printing cash. and you know why? because they're innovating. they're not financial engineering. this is a company that is coming up with new products. some sound crazy like google glasses, self-driving car, but they're innovative. two, let's look at the technicals. down 5% or bouncing off a 100-day moving average. i think around here you can get into it and then finally, just behavior. dan is going to talk you about this switch from apple. that trade is over. it's already happened. nobody's out there tweeting hey, i'm about to buy apple. they already bought it. >> thanks for looking at my notes here. you talk about innovating. these guys still get sales from online advertising. they're having not as good a

time as facebook. why did the stock get nailed as they reported? their operating expenses are growing faster. that's a bit of a problem. if they don't come out with innovative products. so that's a little bit of a problem. the bigger issue that i have this is a fine company and they're executing very well. we're expecting to grow earnings and sales. great. have a ball. down 5%. i'd say buy it down 10%. positioning is not good. >> that money is going to go into apple at this point. >> karen, who won? >> i like google. in five years. the bottom, i don't know, but i like it, just happy to own it. >> technically, the set-up this could trade down 8.25 so you want to wait on the buy side here. >> all right. tell us who you thought won our

street fight. the results are at the end of the show as always. carl icahn's post about his stake in apple boosting the stock and also the street's awareness of twitter. let's bring in a man who saw that value long before icahn. howard is cofounder and ceo of stock twits, a social network of traders an investors. >> my mom is is watching. >> you better keep it clean. let's get straight into this conversation. i think that twitter has a lot of great trading ideas. at the same time does it also have the potential of being the modern day chat room with way yahoo! finance was used ten years ago? >> always going to be the question. here's my thought.

carl really the old koot got it right here. he's ahead of the curve here. carl's a trend setter. i may be early, carl's now confirming the trend. carl's got a team of lawyers. he's figured this out. he's got a hot hand. he's not promoting a penny stock. he's talking to tim cook. feels like tweeting it. it's a little bit of theatre, but guess what? carl's taking risks when he does this. if he's wrong three times in a row with a tweet, people will ridicule him. he's playing the game. some people don't like it. get used to it. this is how it works, melissa. for year wall street tries to keep this in a box. cnbc comes along, tag takes ilt out of the box. facebook, the opposite. kids are worried about privacy. everybody goes to snap chat. but wall street, everything goes the opposite way. people want to broadcast share

ideas converge. icahn's no different. >> we're talking about apple. it's $400 billion in market cap. what if we're talking about a small cap stock, i'm sure you take a look at your stock twit and you see plenty of dollar sign whatever ticker it is and that ticker is for a company that is lake erie than $100 million in market cap and is being pushed around by a tweet. the creative people like me and you and our community that loves talking about stocks but trying take away the span. by that you can reduce 90% of the spam by getting rid of otc bulletin board and penny stocks. that's what we push to twitter. this is a place where we're trying keurig and a normal conversation. you're doing a great job on twitter. hey, we're all talk inging about

carl's move. can't stop carl from using twitter. it's a broadcast platform. we're all watching it. but when you want to try out a stock and chat about nonpenny type stocks. but yeah you've got to be careful on twitter just like on e-mail. there's people there, you've got to delete their messages. carl's playing by the rule. i like what he's doing. >> starts to get into gray area. >> it's all about the you know, they deal with this in the court of law. i think that's a gray.

>> you could argue this all day long, brian. listen, everybody is allowed to talk about stocks. that's the way i feel about it. the walls have come down. the technology's there. we're all holds this mood ring right at the top of our fingers and we want to share pictures. we've got to be careful of the concept. can't just buy apple because carl icahn said so and so that doesn't change. people need to grow up. if you're in money, you've got to be responsible with it. >> all right, howard thank you very much for your time. want to go to straight to kayla. breaking news. carl icahn's is in. kayla. >> that's right, melissa. just on the wire we're getting calls and we'll bring those to you in just a minute, but icahn showing interesting build-up, especially in dell. the build up to that dell vote

now, the vote's going to be in september. he went from 7 million shares to 17 150. ahead of the vote, but that's a pretty big increase. he also increased his stake in nuance communication, new technology behind siri up to 32 million shares. that's a big increase. you dpis have been talking about this, the holds at the end of the second quarter don't show apple. take a look at the apple chart. it bottomed at the end of june so that's pretty precarious time lg ing in terms of what carl icahn has been doing. it's hitting the bottom and has been up large since then. so no apple holdings for carl icahn, but a giant jump in dell. he also liquidated his position in electricity and he was adding slowly to a position in cdr energy, where he is in a contested situation there,

melissa. >> thank you very much, kayla. >> i don't find it peculiar carl icahn didn't start buying apple until q3. he's a stradtrader, a smart guy. it's a very liquid stock. he wanted to see what the print looked like, what the guidance was like. >> coming up next your cnbc play-by-play is coming up and get a haed start on the day shaping up to be among the top. straight ahead. my doctor and i went with axiron the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of puberty in children

or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medications. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, feet or body swelling; enlarged or painful breasts; problems breathing while sleeping; and blood clots in the legs. common side effects include skin redness or irritation where applied test. axiron.

"stubborn love" by the lumineers did you get my email? i did. so what did you think of the house? did you see the school ratings? oh, you're right. hey babe, i got to go. bye daddy! have a good day at school, ok? ...but what about when my parents visit? ok. i just love this one... and it's next to a park. i love it. i love it too. here's our new house... daddy! you're not just looking for a house. you're looking for a place for your life to happen.

for paulson buying steinway to apple, they are among those topping cnbc's executive edge highlight reel. >> we have a little breaking news. paulson and company going to be buying steinway musical instruments $40 a share. i learned how to play piano on a steinway. >> macy's earnings weaker than expected. >> the consumers stop blaming the -- start to manage a bit

more. >> the stock is under pressure. >> listen, i don't believe the government's calculations. there. i said it. >> because you have better number, rick. >> oh no i don't have better numbers. i have common sense. i don't like substitution. if i like my big mac, i'm not going to substitute dairy queen for it. if i want to buy a -- >> because you're -- >> because you'll buy more expensive -- that doesn't make any sense, rick. >> oh, give me a break. >> stock's got a nice bump and now, there's a belief, david we talked about this earlier, that at least at this point, has put a floor on apple. >> apple is back at 500 for just a second there. it hasn't closed at 500 or above since way back in january. so, it has been a -- >> before you can point. the so-called whale of jpmorgan chase has cut a deal a nonprosecution agreement with the u.s. justice department,

which means he is not going to be prosecuted for the $6 billion plus in losses in that derivatives portfolio, but he is going to cooperate. >> what stands out to you, bk? >> of all those, i loved rick santelli santelli's rant. not sure what he was trying get out, but it was fantastic. you know, the other ones in there, the jpmorgan deal, i think jpmorgan the whale deal you've got to watch that because there's a lot of litigation risks in these banks. i'd be a bit careful. >> karen do you think jpmorgan is -- we have breaking news. kayla? >> just a quick development from the 13f filed by george tsiros. he bought a 7.9% stake in jc penneys. by the end of the quarter, he's

liquidated the whole thing. so definitely an interesting development. he had taken that big stake, but obl, lost faith in that investment in a short period of time by the end of the quarter. >> thank you very much. interesting. throwing in the towel. >> i'm a little bit confused on that filing. you know what? let me look into it. >> the stock is ticking 13.60 in the after hours. >> i don't know p it's on the -- let me look into it. >> we'll look into the filing more but i was going to point out the fact that george soros has also decided to pull all of his money. >> exactly. so i think this is probably part of that whole game. got the giant position in there. he wanted to just get new expo shoour away from that and you add in the herbal life stake, no

loss between these two or i should say no love lost on the performance plus. >> let's take a look ahead at tomorrow. walmart giving investors a look at the health of the consumer. steve. >> i think retail we've seen it's a challenge. i think walmart's actually focused group is going to be challenged the most out of retail, so i would be staying away from retail and in particular, i would stay away from walmart. >> the national association of home builders out tomorrow. stay tuned.

at farmers we make you smarter about insurance, because what you dont know can hurt you. what if you didn't know that it's smart to replace washing-machine hoses every five years? what if you didn't know that you might need extra coverage for more expensive items? and what if you didn't know that teen drivers are four times more likely to get into an accident? 'sup the more you know, the better you can plan for what's ahead. talk to farmers and get smarter about your insurance. ♪ we are farmers bum - pa - dum bum - bum - bum -bum ♪ before their gift helped preserve the point... before a credit solution was used to expand their business... before trusts were created for their grandkids' educations... they chose a partner to help manage their wealth...

one whose insights solutions, and approach have been relied on for over 200 years. that's the value of trusted connections. that's u.s. trust. here at fidelity, we give you the most free research reports customizable charts, powerful screening tools and guaranteed 1-second trades. and at the center of it all

is a surprisingly low price -- just $7.95. in fact, fidelity gives you lower trade commissions than schwab, td ameritrade and etrade. i'm monica santiago of fidelity investments, and low fees and commissions are another reason serious investors are choosing fidelity. now get 200 free trades when you open an account. ♪ ♪ [ agent smith ] i've found software 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 ]

welcome back. breaking news just want to give you an update on soros' position. there was an error in the format and it turns out it is not in alphabetical order, but there is still a holding, increased by 2 million shares. he has 19 million in jc penney. we apologize for that error, but he has 19 million shares of jc penney. >> thanks so much for that. karen, much different story now. buying into increasing the

stake. >> it's interesting. we know this as of june 30. things have changed somewhat since then. we know perry when they took their position, they started buying in june. i don't know. i actually am not that optimistic. i don't like to see perry and soros and all that on the other side. >> and you're still short to be clear. >> and we're mostly now -- >> up 4.5%. who won the street fight? dan, the bear, won the street fight on google, so dan, good for you, risk reversal. >> i saw dan voting again and again. >> the final trade. grasso. >> mcdonald's been under pressure for the last week. time to start nibbling. >> dan. >> i don't like the -- >> karen. >> i actually sold a little bit of apple ahead of its extraordinary run. >> and bk. >> that cisco news is not great for the broad economy. >> see you back here tomorrow at

5:00 for more "fast money." meantime, "mad money" begins right now. my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere. i promise to help you find it. "mad money" starts now. hey, i'm cramer! welcome to "mad money." welcome to cramerica. my job is not just to entertain, but to teach and to educate. call me at 1-800-743-cnbc. we cannot -- we cannot afford to lose the consumer. we just can't.