not. the dow jones industrial average is off 86 points. the s&p is off 15. but the biggest percentage loss today comes on the nasdaq, ty, which is down 1.3. twitter itself, up 80% on its opening day here. and last trade is at $46.88. that does it for us. there's a look at three more winners. that does it for "power." >> and "street signs" begins right now. ♪ ♪ tweet tweet tweet tweet in your hot topics today, your headline by the news that is gripping america if not the entire world. the surprise interest rate cut by the ecb. what happened? why? and why you do need to care about it. what walmart is doing that is likely to make even some walmart fans angry. the debate over the tech stock that has quietly become a stock star this year. and mandy, yes, we do have this little thing called the twitter

ipo today. but we are going to try to put some big numbers in perspective. indeed we will. forget all those newly minted billionaires. some say one of the big winners of the ipo is the nyse. and its smooth execution of said ipo. so it is no small irony, folks, that the nasdaq today is having its worst day in a month. it has been dragged town by tesla which is down by 20% in the last two days, dragged down by qualcomm and whole foods. we'll bring you more on that stock later on. as for the dow, it broke its intraday high earlier on but then dropped as much as 84 points. it is currently down by 91 points. continuing to drop there. it is nonetheless on track for the fifth straight week of gains. but let's get back to twitter. yeah, okay. it is the big story of the day. the stock surging in its public debut and has been trading a little more than three hours now. so it seems like a good time to go down to the floor of the stock exchange and join bob biz

saun b pisani who was there. >> we were on the floor an hour and 17 minutes. that was the longest ipo wait ever. the old record was 10:17 eastern time. that was for visa. it was all worth it. pricing at $26, opened at $46.10. right now trading at $46.92. this is a textbook example of it. let me just show you what's going on here. what the book runners, what the underwriters do not want to have happen is it opens at $45, then it goes to $70, then down to $30 and you get these wild gyrations. essentially we've been between $45 and $50. a brief blip at $50, but essentially this has been rock solid right across the line here at $45 to $46. i would not be surprised if this closed essentially right around here at $47. again, what they want, nice and steady throughout the day. by the way, 91 million shares

changing hands. the stock, traded, 70 million right now. it's already traded more than the total amount that was available. back to you. >> bob, stick around. don't go anywhere because the former obama administration car czar steve rattner sent this tweet out today. "twitter opening at $45, almost 50 times revenues. we are officially in another tech bubble." this is our question. is this ipo a signal that we are at a tech top? joining us now, editor in chief, lance. make the case that we are not in a tech top. >> yeah, i think twitter was so smart about this. this felt great. this felt a lot different than the ipo by facebook over a year ago. but, you know, i think that they priced it right to let the market decide. and the market just decided, you know, twitter has become a part of our lives. it is not sort of a flash in the pan. it is not something that doesn't work for both regular people and brands, you know, and companies and advertisers. it is something that if it

didn't exist, something else would quickly move in to take its place and do the exact same thing. you know, i understand it's not a profitable company. i total saysly get that. but obviously, this is based on potential. it doesn't feel insane. it feels right. and how many other big tech companies -- have there been this year? that is not a sign of a bubble when you have, like, one major one in the last, you no he, six months. >> you know, lance, listen. it may turn out to be the greatest company of all time. but when you buy a stock, you can buy it for cash, for earnings, for growth or for dreams. and let's be clear. this is buying it for a dream of what twitter will become because i'm going to show our viewers something. hold on for a second. i've got a comparison. twitter's at about $33 billion in market cap. that would put it between cbs and general mills, companies with $15 billion and $18 billion

in revenue, but more importantly, more than $3 billion in ebitda. yes, for now. it may get there. >> you know what? i'm glad you mentioned cbs because cbs is a perfect example of why twitter is going to win. you know, what is one of twitter's biggest plays is a second screen environment for one of our favorite activities, which is watching tv. and guess what? that's what cbs does. and you know, cbs is an old media company that had to figure things out again like every other old media company did because of companies like twitter. >> i'm not saying, lance, twitter will not succeed wildly. listen, i'm a heavy user. i think its a great company. i love what they've done. they will win. >> we agree. >> what i'm referring to more is the sort of frenzy 30 times oversubscribed per share around the company and the valuation versus yes, much slower growth, but albeit real companies out there. >> you know what's funny because i don't know -- i'm not a good stock or finance person. that's not my skill set.

that's your skill set. what i will say is where i stood watching as we had the march-up to this ipo, there was a lot less frenzy. there was a lot less insanity. and you know, when we had facebook's ipo, people couldn't stop talking about it. then there was that disaster on the if irs dfirst day and it ki tainted it for a while. they've come back. in fact, they're very close to twitter right now on share price. i felt like with twitter, everybody sat back, waited and the tension built today. so i feel like for some reason to me it feels a little bit more real. and facebook has done a bunch of things in recent months and weeks that have made it a more interesting product, especially for advertisers like the ability to have full-size images and actionable videos right in your time line, which who wouldn't love that except advertisers? >> okay. we certainly hope you're right, lance. thanks very much for joining us. >> pleasure. the other side of the story is the handling of the ipo itself. many eyes closely watching how the new york stock exchange going to handle this after

facebook, well-reported problems on the nasdaq and it looks lik they handled it doggone well. bob, i'll go to you because you were there. here's the thing. this has got to be a great -- i heard you talk to scott cutler. the nyse doesn't want to come out and say yippee, look what we did because that's an amateur thing to do. you want to say this is just how we always do it. this has got to be a tremendous day for the new york stock exchange and their brand, particularly on the tech side. >> it's not -- yes, it is. but it's not just good for them. it's good for overall market sentiment. it's good to have the public involved and engaged in the concept of an ipo. we all know the public hasn't been very engaged as we hit new highs on the markets here. move over here and just let me, again, show you the post. i think the important thing here is the process. nothing happens down here at the new york stock exchange on an ipo unless the designated market maker, and that's glen right there in this case, says it

opens. stock does not open unless he's satisfied that the price is right and that the amount of stock that they're offering is okay. now, it took a long time. but when he said the book is frozen, that means everything stops. no morbids or offers get put in, and the stock opens ten seconds later. i've been watching this for 15 years. i've been 1500 ipos. this is a pretty tried-and-true process. even though there was a lot today, it worked the same way it's always, whoed. >> that being said, a tried and true process. david, let me bring you into the conversation. you reckon that the handling of the ipo was impeccable. and yet i would encounter maybe it's because they had the benefit of learning from facebook's mistakes. >> i think there's a lot of credence to that statement because it was such a profound, abject failure that anybody could have done better. i don't want to say anything that negative about morgan, but it was a complete debacle what happened there. so yes, let's do it right. and i've got to tell you, i didn't get paid for this, guys,

by tway. the handling of cnbc and how they got into every nook and cranny of what happened this morning was absolutely astounding, and i think you guys should be writing a book. >> kudos to bob pisani. in terms of nyse versus nasdaq, do you think we'll see a lot of companies and notably tech companies, the traditional kind of companies that would have gone to the nasdaq are going to say, you know what? i'm going to go nyse now. >> if we did not have this deal coming on the new york stock exchange, if they said we're going to take a chances on nasdaq, i think the stock exchange would have been relegated to different kinds of deals. but because they did it now, all the tech heads on the west coast are saying we can do it in a much better way. >> and i want to say thank you for the compliment to cnbc, but i must say that mandy and i have done absolutely nothing. we've been sitting in the studio all day. i've been critical of twitter. we appreciate it nonetheless, david. >> that's okay. >> you mentioned morgan. mandy talked about the exchanges. how much of a blame for facebook

and the success of twitter goes to wall street, the banks -- >> good point. >> -- or the exchanges? >> i think you have to look at the legwork that was done prior to the actual offering of facebook. and i think there were a lot of serious missteps that the markets said uh-oh, we're not prepared for this. with the goldman offering on twitter, everything was choreographed to the point where they could actually rewrite everything that has to be done for an ipo. so morgan brought in sellers for the facebook offering after everybody got comfortable. >> stanley, not jp. >> morgan stanley, i'm sorry. there were a lot of things they probably said morgan stanley, we're big, but we want facebook and we'll do whatever you say. i think this was goldman sachs saying twit, this is how it gets done. >> david, great to have you on the show. and let's hit the big story this hour. and that is triple-digit losses on the dow. you know, bob, we actually opened in the green, and we're continuing to lose steam here. the nasdaq in particular which has been the outperformer so far this year has been really starting to underperform. what's going on?

>> well, what's going on is there's a slight change in the way the market is trading. so, for example, hedge funds, active traders. going into this week have been long beta names. so beta names are the teslas of the world, the chinese internets of the world, the facebooks of the world. you know them. the stocks that trade heavy volume every day and have wide price swings on a daily basis. they've been long data, and they've been short defensive names. so short consumer staples names. in the last couple of days, that has changed a little bit. suddenly we've seen a little bit of selling there in some of the high beta names and more going into the consumer staples names. now, remember, hedge funds have only so much tolerance for pain. when they start seeing trades go against them, they tend to reverse it a little bit. how deep this reversal is is not clear. we're in the middle of it. this could all stop. i would note today, big names in some of the consumer space like wynn, for example, ralph lauren that was up today are all down today. i don't think we have a clear trend right now, brian. >> bob, the reason that we led

the show with ecb, right, was not only because twitter's gotten plenty of coverage, listen, twitter's great story. what the ecb did this morning unexpectedly cutting rates when 67 of 70 economists said that they would not cut rates. to me that's a shock. how much of this might be, hey, you know what? maybe there's better liquidity-driven opportunities someplace else. >> there might be. and i was as surprised as anybody the ecb cut rates because that certainly wasn't the consensus. but i think it's more important to watch the trend. i'm not sure that what happened today would have happened even had the ecb not done anything. there is some kind of -- we're in the middle of some kind of trend reversal and i'm not sure how deep it is. sometimes they'll stop and sometimes they really have legs. the activity on twitter is really good today, but i want to see a week from now. if it's 45 a week from now, there's no top in tech. >> bob, great stuff. so much more ahead including

a closer look among how twitter ranks among other ipos. more about that ecb decision. how walmart took its low-price guarantee to the extreme. and later on, put down those doughnuts and french fries right now because the government has a bold new plan to ban all transfat. is that a smart move, or did it just go way too far? and before we go, here's the world's first ever tweet. it came from founder jack dorsey. "just setting up my twttr." that was the original name. they changed the name to the current version, but that is the world's first tweet, march 21st, 2006. we're back after this. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being a...shell.

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lost in all the twitter news, it's not a dood good day for the stock market. the dow jones industrial average down 105 points. the nasdaq is the big loser, down 1.5 points. maybe you can make the case people are elissing other stocks so they can buy twitter. who knows? but the big-market story, one that would have led our show which is why we did it anyway, if it wasn't for twitter is this. europe, the european central bank, making a surprise interest rate cut today. bringing record lows. let's bring in michelle caruso-cabrera. we did not randomly play the vapors "turning japanese" on accident. i know perhaps the meaning of that song is slightly different than a central bank might intend it to be, but it seemed fitting. >> we get it. we get it. yeah. so you're right. the european central bank surprised everyone when they cut interest rates.

people thought it was possible but not probable. the vast majority of economists. but europe's just been so entrenched, they've been very much making policy for the bundes bank for the rest of europe which some parts are experiencing close to deflation. what are they finally worried about? there's mario draghi, the ben bernanke of europe, did a little press conference afterwards. easy tal ihe's italian. let's show you what concerned them. it tells the whole story. remember we talk about the fed trying to fight inflation, but they also fight deflation. you're looking at disinflation. that's when inflation keeps rising but not by very much. by less and less and less and less. and then you worry that you start to dea declisee a decline prices. japan for 20 years. >> they've been trying to get inflation system for a couple of decades. stick around, michelle, by the way. it is the move made european stocks a more attractive place to invest?

let's bring in fidelity's tim. paul, 25% of the stocks in france are up more than 40% this year. so do you still care for french or european stocks? in other words, does this make you even more bullish on europe? >> yes, mandy. yes, mandy, it does. that move earlier this year was mostly on multiple expansion. mostly on a return of confidence. but now we're finally starting to see some real economic data show that europe's gaining some traction. we think that continues in the in ex-year into 2015. we look for earnings to rise and then give pes another leg up. >> do you agree? >> i do. i like europe still. we've been overweight for a number of months. and you know, the low inflation has given the ecb some room to cut rates. they may do another ltro later on this year or next year. you know, the ecb has had a lot of shrinking in its balance sheet because banks have been repaying the ltro. this gives them a free option to

do a little more on the easing side. >> make the case because pe wise, trailing you've got the dax trailing at 24 times earnings, the cac at 22 times earnings. our dow is 17. you obviously believe earnings are going to grow into that. >> yeah. well, the market usually leads earnings especially at inflection point. what i'm seeing is potentially early cycle mode for the european markets whereas the u.s. markets are much more mid to late cycle mode. so you do tend to see elevated pes. pes are actually lower than in the u.s. when you count the, you know, italy and spain and those countries. >> greece. >> those markets have been on fire. >> how much, paul, is the significance of this move by the ec brk says is also from a currency perspective. one of the knee-jerk reactions we've seen is for the euro to take a leg down. naturally all the politicians would like a lower euro because it makes them more competitive. mouch does that also propel some of the multinationals in europe in? >> yeah, this is very important.

you've got multinationals in europe, obviously you've got the big german companies. they may be a little less sense tiff to where the euro was, at around $1.40 just a couple weeks ago. you've got others that would prefer the euro at 1.30 or sub-1.30. and then announcing there may be more in our bag of tricks. that's going to help the euro stay low. it's a good time for investors. >> good point. mario draghi in his statement said that rates will stay low or even lower for an extended period of time. forecasting the possibility for them to go lower. >> another discussion for another time is if kwur reuro i stronger, dollar is stronger, but that's another story. >> or wheelbarrow sales. future currency. >> yeah. great to have you with us. thank you. >> thank you. still ahead, the single biggest bright spot in the american economy right now. and later on, jcp showing

signs of life. is this ship finally turning around for good? we'll debate that. before we go, we are also highlighting our first tweets today. so anyway, mine was when i first joined cnbc, new twitter handle, old hair. genius. we're back after this.

let's take a look at the markets here because the twitter ipo might be soaring in its first day of trade, up by 80%. but we're seeing a move to the down side quite a lot, in fact, for the dow, the nasdaq and s&p. look at thes that dak. it is off by 1.5%. the clear underperformer here. its worst day in over a month. as for what oil prices are doing, let's take a look at what they're up to. also in the red and well below the 95 buck level. sitting at $94.13. light crude lost nearly 2% over the past week. unless you own a tesla, you probably go to the gas station. which means you've noticed gas prices keep going down. and to help keep your big brains filled up today, we're going to kick off a new segment called "pump patrol." it's a daily check on the highest and lowest gas prices as spotted around the nation. let's get now to sharon epperson

who has been keeping tabs on the prices. what are you seeing, sharon? >> reporter: it's great to have a story about a trend that's benefiting millions of consumers. we have seen gasoline prices on average down a penny a day every day this week. now down to $3.22 a gallon for the national average. according to aaa. we're looking at prices that continue to slide and down 13 cents just in the past month. it's not a stretch to think that at this rate that maybe we'll see $3 a gallon for the national average by the end of the year. but we're already seeing many states where gasoline prices are below that $3 mark. take a look at the list of seven states from gasbuddy.com. we're looking at missouri, oklahoma, arkansas, texas, kansas, nebraska and louisiana all with prices below $3 a gallon. and here's where you can find the cheapest gas today. tulsa, oklahoma, $2.80 a gallon. kansas city, missouri, $2.85 a gallon. laredo, texas, $2.85 a gallon.

of course, hawaii often has the most expensive gasoline as the gasoline has been transported from the mainland. we also usually see very high prices in california and connecticut where we have high gasoline taxes and lower refining capacity. so we are looking at those having the highest prices. but the good news is that we're still seeing prices that are below $3 a gallon according to aaa in at least 38 states. at least one station in 38 different states has gasoline below $3 a gallon. that's the great news. back to you. >> that is the great news, especially leading into the holiday season. thank you very much, sharon. so if you are sitting at home looking at twitter's impressive ipo, you're probably thinking, i would have liked a piece of that. well, we're going to take you down memory lane to see how you would have done if you had gotten in on some of the big tech ipos. dom chu on here on his big wall with that story. hey, dom. >> it's not all it's cracked up

to be. we found a few examples just to kind of give you an idea of the risks involved in the ipo investing. so how about groupon, the online daily deal site. ipo november 4th, 2011. if you would have invested $1,000 in shares back at groupon's ipo, one year later, that would have been just $147. that's all you'd have left from your investment after a year. another one we're looking at right here is one we all know, pandora, the internet radio company. a $1,000 investment back in june of 2011, a year later would have just been $615. so you lost there as well. our next candidate is, of course, a big one, facebook. $1,000 investment in its ipo a year later became just $687. so these are all losing value. then there's yelp. take a look. because in march of 2012, at ipo, you put $1,000 in, and it's only worth about $936. and then we'll end on one which is linkedin. may 19th, 2011. that ipo actually made you a little bit of money.

$1,051. interestingly enough, if you would have held all of those ipos to today, you'd be making money on all of them except for groupon which reports earnings after the closing bell. but still, mandy, it gives you an idea you don't need to get in on these ipos necessarily. sometimes you'll get better prices down the line. >> it pays to wait. thank you very much, dominic chu. coming up next, quinoa spill aside, whee'll tell what you we wrong. $20 treadmills, $9 computer screens. how walmart accidentally took low prices to the extreme and is now doing something that maybe even the greatest walmart fans will be ticked off over. before we go, here's my first tweet ever. i'm a little disappointed in myself when i consider how unimaginative it was almost three years ago. "i am very excited to become a tweeter!" >> that is just terrible.

>> i know, i have learned since then. >> you've got a good imagination, you're obviously highly intelligent. >> my tweets are evolving. >> yuck! >> tell me what you think. clients are always learning more to make their money do more. (ann) to help me plan my next move, i take scottrade's free, in-branch seminars... plus, their live webinars. i use daily market commentary to improve my strategy. and my local scottrade office guides my learning every step of the way. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) ranked highest in investor satisfaction with self-directed services by j.d. power and associates.

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the twitter ipo is up by about 80% in its first day of trade, but get this. this is the backdrop. look at the overall market. the dow is down by 133 points. it's really picking up steam in terms of its movement to the downside. currently at session lows. and the big underperformer is a 64-point drop in the tech-she have tech-heavy nasdaq. >> it was around 2380 at the end of the day after that big drop in june. so it's a big drop, but we've had a few of them this year. >> that is absolutely true and certainly one of the big drags on thes th nasdaq is tesla. let's get back to "street talk." let's also get back to the big story du jour, twitter. the stock makes up nearly 4% of the nyse's consolidated volume

today, right? >> yes, the big story for me is the ecb. it's the biggest story for moi. here is the stock. it's up 21 bucks to $46.97. and briefly for a cup of coffee hit 50 bucks a share earlier. we've had a mini run-up in the last few minutes. we'll keep you well apprised on twitter as cnbc counts down the trading session. let's bring you "street signs," your home away from home. starting on earnings. >> vacation rental company reported a 63% jump in revenue, $90.1 million. eps beat by 3 cents. average revenue per listing was up 16%. raymond james boosted their rating to a strong buy. upgraded the stock as well to a neutral, hardly a ringing endorsement, but the stock is higher today. >> indeed. >> revenue missed projections. carrington research, craig

hallum capital. this is now a stock that's down more than 50% year to date. what's worse, i went back and looked. it is below it's 2006 ipo price now. so this has been a capital destroyer since it went public in 2006. >> remember we were talking yesterday about 3-d systems and how it's been on fire since october? stratasys. >> revenue came in above estimates. acceleration growth in the recent acquisitions. maker got averaged about $11.5 million in revenue. up 5% to $120.16. and geron soaring on cancer drug trial data. >> this wasn't a stock we'd even talk about. it's right under 500 million bucks in market cap. it was a 91 cent stock recently. it announced that 22% of its patients using his experimental drug were free of the disease.

geron is up. this is not a misprint. 57% today. ten years ago. so it went from 12 to less than a dollar to now where it is. >> look at the chart. doing absolutely nothing, nothing all year and then boom. september, mid-september onwards. >> just sayin', folks, geron, be careful. it moved violently. tesla, not the only high flyer that's been taking it on the chin lately. shares of whole foods, in fact, down about 9% right now. is this selloff a sign the hot momentum trade is over for wfm? or maybe is it a buying opportunity longer term and an overreaction on the down side? let us start talking numbers. on your technicals, rich ross of auerbach greyson on the fundamentals, we have got andy bush of the bush update. andy, first off to you, the fundamentals. 9% drop for whole foods is a big deal. what do you make of it? >> yeah, i mean, bad day to come out with some bad news, right? you never want to release bad

news when the market's soft overall. that's exactly what happened. when you're trading stocks, you're always looking for new information. and specifically, what we call forward guidance. what the chief guys in the firm are saying about the future. and in this case, with whole foods, they met expectations as far as earnings, but they projected lower from 2014. now, it sounds like only a small amount. they went from $1.69 down to $1.65, but the market was looking for $1.73. that's one of the big reactions. plus john mackey said that the problems or the drop in sales is across all of their products. not only from a transactional basis but a basket size and geography and store size. it doesn't get any worse than that as far as giving you bad news. while whole foods is, you know, not exactly rotten, you know, the shelf life is pretty much, you know, gone past its due date. >> all right. multiple puns in that one sentence alone. rich ross, let's get to your view on the charts. selloff or buying opportunity or no? >> absolutely not, brian. >> no. >> the best twraders kn ertrade

your first loss is often your best loss. when it comes to high-flying momentum stocks like this, i implore our viewers to take that advice. you want to be a short seller below $57. first let's bring up that short-term chart and i'll show you exactly what i mean. you can see the stock had had been a star performer. even after today's decline, you're still up 29% year to date. but all that is history. going forward, this stock goes lower. you see we've held that 100-day moving average, but now we've broken down horizontal chart support. the trend line. this is where the stock must hold. i don't think it does. you go through $57. now, let's just pull out a little bit and you can see that bigger, long-term chart. it shows you even more ominous downside here. a beautiful breakout last year from a seven-year head and shoulders bottom. but now we've gotten too far ahead of ourselves. i think we test the 100-week moving average at $47 and potentially i see downside to $40. that's $18 down from current levels. you have to be a seller here. get out now.

there's still time to save yourself. >> 57 is the critical level which we are watching. if you're on the radio, there's a big line across 57. >> good information, boys. i also want to mention quickly something i found very interesting. remember a couple days ago, brian, we did a debate about gmo labeling and whether or not that should occur. apparently whole foods allows gmo foods, but they're going to mandate all of their labels say it. i think that's kind of interesting because whole foods i would have thought was the opposite of what gmo was all about. >> is there a definition of what genetically modified organism is? >> it did stick out as something that was interesting for me. >> be sure to check out the online edition of "talking numbers" in partnership with yahoo! finance. while everybody is buzzing over twitter, we're doing a throwback thursday of shorts. we're going to talk about an old-school tech name that's been rocking -- i like the music -- we'll tell you who that is. the government declaring an

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i'm bill griffeth. coming up on the most important hour of the trading day, all eyes will remain on ter. the social network ipo itself has been trending all day on twitter. no surprise on that. we're going to talk with the ceo of the new york stock exchange who himself marshalled twitter to its debut as a public company. meanwhile disney is adding netflix to the marvel universe. a mega deal that could prove a blockbuster for both companies. we'll talk to bob eiger and break down the company's earnings at 4:00 eastern. lenovo had its eyes on blackberry. now that the top pc maker has been your honor anded, what's their next steps? the head of u.s. operations will

tell us coming up on "closing bell." maria and i will see you at the top of the hour. we all know how it opened. now we'll see how twitter closes today. >> absolutely. very interesting. we're all watching. the fda hoping to slim down the american diet. the government is proposing a plan to eliminate transfat from all processed foods. eamon javers has been following the story. the government put us all on a diet. >> that's right, mandy. take a look at some of these videos. this is the wall of shame here in terms of transfat. it's put together for the center for science and the public interest. and what they've done is compiled a lot of the brands that they are criticizing for having transfats in them. the fda today saying that they would like to move ahead and ban transfats entirely from the american diet. they say they've made a preliminary determination to do just that. now, there's going to be a 60-day comment period here. and the fda says they're going to ask industry to weigh in to see exactly how long it will take them to remove transfats

from the american diet. why do they want to do that? the fda says transfats increase the risk of coronary heart disease. they say removing them from the american diet will prevent heart attacks. they say that they are still, the transfats, still found in some kinds of microwave popcorn, frozen pizza margarine and coffee creamers. mandy, the industry has made great strides in getting rid of transfats. fast food chains have done that, of course, restaurants in new york city have been ordered to do that. people are not expecting here a major disruption for the food industry because a lot of this has been heading in this direction anyway. the fda now making it official. and there's some question here about exactly how long it will take to do this entirely, but it's definitely here in process here in washington. >> thanks for the update. next, jcp just did something it's not done in two years. could this ship final loy ly be turning around? and shares of one tech partying like it is 1999. we'll tell you who it is and have a bull debate over it when

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♪ ♪ snoop ♪ snoop we all know that walmart is a discounter, right? but shoppers logging on to the website yesterday might have thought the retailer was going out of business entirely. treadmills were 30 bucks. computer monitors for less than 10. walmart says these prices came up because of a technical error which caused some products to be priced extremely low. the company says they will not be honoring those low prices. so let's bring in -- and we should just say they canceled the orders. they say they're going to refund them and the customer will also get a 10 buck e-card nonetheless. however, why not honor those technical, i don't know, whatever you call them, technically low prices? >> well, you have all your facts right. that's exactly what they're going to do. they're going to cancel them, refund the money, give you $10 and say we're sorry. >> yeah. >> i confess, i was a little surprised that they weren't going to honor them.

but i don't know how many zillion orders might have come through at those prices. and they haven't said that. so, you know, maybe their whole stock was going to be gone at those prices. >> yuh-huh. >> so i really don't think it's a big deal. i don't think any consumer really thought they were going to buy a treadmill for 33 bucks. i think they went wow! this is some problem. let's buy it now. >> that's where technology has changed. it used to be you'd get four or five people. now you could have a million people on twitter in 30 seconds. i don't like what they did, but i understand probably why they had to do it. zploo >> and unlike other people that have computer glitches, somebody's performance will reflect the fact that this didn't go well. >> yeah. let's go on to jc penney. sales rose 0.9%. okay? in october. not a lot. but the first year-over-year gain since june or something like that 2011. your take. >> more importantly, it got better in september than august.

it got better in october than september. if it gets better in november, december and january, you lose your bet big time. >> wasn't the bet only until september? didn't you make the bet last september and it was still september of this year? in other words, the bet is over? i am being the completely bet l september until this september? i am being the moderator. >> it was during the calendar year -- fiscal year 2013 business. it was the fourth quarter. i said originally they wouldn't have positive comps till the fourth quarter. they have had one month of positive comps here in the third quarter. but, yes, they'll have positive comps in the fourth quarter. i was thinking they'd have four or five in october. i honestly was a little disappointed in the .9. i still think they can run high singles in the fourth quarter. brian loses his bet. the short's probably panning a little bit. they get a gross margin. it'll be a horrible gross margin in the third quarter. but they'll have a reasonable gross margin in the fourth quarter. between those two they'll probably see a little bit of a bump in the stock price.

and they'll see positive comps in q-1, 2, 3 and 4 next year. >> that's good news. we want jc penney to succeed. i probably should have bet you sales and some sort of floor on margins, right? >> yes, you should have. >> losing money on everything i sell. >> the beauty of hindsight. you win enough bets already. you can afford to lose one. >> it's true. >> but we do want them to survive. >> we do. >> so do the buyers. >> a lot of people. >> bottom line, this is good news. thank you very much. maybe while you were sleeping, one of the old tech dinosaurs has woken up in a big way. good old microsoft hitting 12-year highs this week. down a bit today. lately inching closer to the $40 mark. something it hasn't done since the clinton years in the white house. is this a buy signal longer term for microsoft or is it overdone on the upside with the bull case, ubs's present hill. with the bear case, hedge fund manager jeff matthews. brent, you know, the windows phone. i want to start off there. is a tiny fraction of the

market. people think they failed in mobile. however, microsoft actually makes billions of dollars a year off of android patents. do you think folks realize that they are actually, quote, winning in the phone side of the business? >> they're winning in an alternative way, but over time they have to get back in. today less than 5% market share. the new ceo who will come in and acquisition in nokia will hopefully help shore that up. clearly, you know, the ecosystem is not building applications around microsoft's mobile system until they get to 10% plus market share. it's going to take more work for microsoft to get in the good graces of the developers that want to build great applications going forward. >> you make an excellent point, brent, when you say until we know who is going to come in. jeff, to what degree, unless malali from ford comes over to microsoft would you not be

investing in this stock? >> that's the bottom line. at this point microsoft is about 50% more expensive than apple. and i wouldn't say microsoft's long term prospects are 50% better than apple. so i don't see it right now. if allen mullaly came over, that would be a very, very good thing. any of these other prospects, i wouldn't bet on it. >> there's absolutely no one out there. there have a lot of people that have been thrown for it. they were a lot of people on yesterday. admittedly, they were old men. whatever. alan mullaly is the only person you would want? >> i think he's a genius. i think what he did with ford was absolute genius. everyone talks about how terrible -- terribly difficult this turnaround will be of microsoft. how do you get it going again? look what he did at ford. he took a company that was very nearly almost bankrupt, running out of cash, oozing market share. he turned it around dramatically, wonderfully. did the right things. resurrected it. and he did it as not a car guy.

that's another point here. everyone says microsoft needs some technology visionary. ron johnson came into jc penney as a retail visionary. look what happened there. you just need a good ceo, and he's a great one. >> all right. well, here's the thing, jeff. i've been reading for years and i respect your views immensely. i agree with you on alan. what would he do, though? a lot of people argue technology has not passed microsoft by, but it's changed in a way they have not adapted to quickly enough. what exactly could he do to -- i don't want to say right the ship because the stock's done well. you get my point. >> right. it's a great question. you know, people overemphasize what the ceo actually does personally. ceos don't go in and write code themselves. look at what john donaho did at ebay. i don't know if he's written a line of code in his life. what he did was came in, saw that ebays basically technology platform was a shambles, and he

hired a great technology chief. and he gave them the money and the budget to hire the engineers he needed to turn it around. that was a great decision. that's the kind of thing a ceo does. i think that's the kind of thing an alan mullaly could do. >> brent thill, you have a buy rating. 40 buck target. jeff matthews, thank you very much for joining us as well. as for the markets, let's show you what's happening. still down by about triple digits there on the dow. we are coming off the lows here. actually, you know what? we're 99 points to the downside. i tell a lie. up next, wall street honoring america's heroes. stick around. mine was earned orbiting the moon in 1971.

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get the blood tests. change your number. turn it up. androgel 1.62%. last night in a rare collaboration wall street and comedy central came together to support a great cause. wounded veterans. bill cosby, jerry seinfeld, others came together to celebrate our soldiers in the seventh annual stand up for heroes concert at madison square garden p thap raised $5 million from ticket sales alone and almost $2.5 million more in doe neighs. bruce springsteen auctioned off his guitar and a private lesson in his studio for another $250,000 during the show. the money goes to the bob woodruff foundation. >> i think what wounded warriors does and bob woodruff foundation

is to get veterans out and realize life is not over when you sustain your injuries. definitely helps you heel. >> abc anchor bob woodruff himself wounded in iraq created a foundation to help soldiers re-enter civilian life. citigroup, deutsche bank and goldman sachs created veterans on wall street to help veterans get jobs. goldman sachs high yield trader and former navy s.e.a.l. joe famantia can attest to that. >> some days i feel similar to how i felt on the s.e.a.l. teams. as a trader i take risks to do my job. it's a team work culture and success is rewarded. it's a very similar kind of, i would say, organizational characteristics of the s.e.a.l.s. >> great cause. just a reminder, monday the 11th is veterans day. i want to give a shout out to my dad who was in the navy. thank you for your service to america. thank you very much for watching "street signs" as well, everybody. we've got the markets currently down by triple digits on the

dow. certainly off the session lows. i think we're down about the most in three weeks for the dow and down about the most in a month for the nasdaq. "closing bell" is coming up next. we'll continue to watch, of course, the close of the twitter ipo. first day of trade. >> what happened today? >> i think it was up by 80%. twitter ipo. >> thank you, everybody. >> thank you. hello, everybody. good afternoon. we enter the final stretch. welcome to the "closing bell." i'm maria bartiromo at the new york stock exchange where it's been all about twitter today. >> what happened today? >> something's going on. we're watching how it closes. >> i'm bill griffith. we are watching this market backing off all time highs. that's very interesting. we're all fee kocusing on twitt today. have you seen the nasdaq? composite index taking it on the chin worse than anyone on a percentage basis. down more than a percent and a half right now. that exchange lost out on the new york stock exchange for the twitter