cheryl: ca cannot come either w? can somebody else pay? dennis: you can buy. charles: ben bernanke is buying. cheryl: thank you charles, charles payne. some of the best managers will be here. they have picks they say will make you money absolutely. dennis: lets go to the market kind of day was down, recovering a little bit. phil flynn will have more from the exchange. but nicole petallides at the new york stock exchange. nicole: 14,484. that was belo the low of the da. but now, above the 15,000 mark. releasthe resiliency of the mar. the uncertainty remains, but for right now you can see we're squeezing out some gains on the

s&p 500. very careful because i see it is virtually flat but the retail index to the upside, some names weighing on the dow jones industrial has been hit hard by the news, that at one point shaved off 50 dow points. showing you how influential ibm is. we have watched blackberry under pressure after their quarterly report. nike came out with decent numbers. we will see whether or not we can now have a winning week on wall street after the selling we have seen. that is the latest at the new york stock exchange. >phil: i don't know what is bigger, we will have hogs and pigs later. traders cannot wait.

let's talk what was on everybody else's mind, that is the gold market, ladies and gentlemen. coming back today after hitting 30-year lows in the price. biggest drop ever in a corridor is coming back. why? i very strong consumer confidence. there is spike in the punch. gold is coming back up. looking at those numbers right now. back to you. cheryl: gold-mining stocks higher. phil flynn, nicole petallides, thank you very much. one of the latest fed officials trying to taper fears. >> i think the decision that was made the most recent meeting was first foremost almost entirely a

decision about clarity. it wasn't an effort to change the stance of monetary policy, i think we were understanding moving forward in time it was just not acceptable to leave unanswered and put no color around. cheryl: both joining us right now. we literally had a parade of fed officials trying to calm the markets but with red arrows again this morning, is this damage control even working? >> they wanted to be more transparent, and i think they are just confusing the issue here, but the message i'm hearing now is data dependent even though they have thrown in the calendar dependent argument. it seems we reassuring the

market. nine fed officials coming out after ben bernanke. after he told them to go out and launch a pr campaign, or they're going out on their own accord because it is a group of bonds. >> this is a fairly concerted effort to single the market as much as possible, to wave flags the accommodating policies will come to an end. but it will be data dependent. cheryl: why do they father at all? >> they say don't this and what we're saying. get used to it, it will not be accommodating bond buying program, it will come to an end when the data itself, when the labor market data and inflation

market suggested is okay to do so, and it will take some time. cheryl: you are overweight small caps versus large caps, that tells me you're not so ready for all of this data, perhaps the fed even though they will stay in place u.s. market, large cap isn't the place to be. >> i made that change for the beginning of the year. quite a bit of this is the dollar will continue to nudge up here, keeping the wind out of the sails with smaller cap stocks. as the bull market evolves and were in year five, it will spread toward more of the small cap and special area. even though the fed is saying it is coming to an end, the rate will go up, it will continue. cheryl: one thing we have seen

causing volatility and concern is what we have seen out of china, worries of the banking system, they have come out and put some water on it. still we don't really know what the next quarter will be for china. >> i think it puts some terms to rest for the second economy is by no means going to fall off the cliff. cheryl: they just want to keep hostages jailed in. >> the consumer sentiment is very strong, we like what the consumers are feeling. their portfolio is valued and we think that can trickle down and people will be spending money. cheryl: your both staying international, especially ben bernanke. we will see how much you to agree. your both coming back in a little bit. related stock picks for the

fox business summertime showdown, we are ready to go with both of you, so we will see you in a little bit. thank you. dennis: what is bugging me today? blackberry. posting a loss, not a prophet as wall street was expecting, but blackberry earnings statement out does not even break down sales numbers for the all-important blackberry 10. certainly the case of put up or shut up. blackberry down 28, 30%. rather startling. he watches blackberry for rbc and joins us now. i remember an analyst came out and said i think blackberry 10 sales are doing badly. the company came out, attacked him, called for some sort of sec investigation arguing he was in cahoots with short-sellers. now we find out the blackberry 10 conference call, 2.7 million

units lower than what they wanted for the all-important new product. is the company protesting too much? >> i think it is still too early. it is the first full quarter's the numbers should have been better. the data changes week by week. a company launches products across hundreds of carriers around the world, some in the early stages, some are taking and digesting the initial statement which is why it is a little bit below expectations near term. the guidance is the big concern. dennis: they came in at 2.7. north american sales dropped 4% versus a year ago quarter. a brand-new product were advertising and promoting like crazy especially in the north american most advanced market in some ways you want to have better growth in the u.s., not a

decline in north america. what do you think? >> there are a couple of components. that is declining. this should be tightening up a little bit faster i think the slope is lower than expected. two metrics that we watch. not selling more product you have to flush out the other end. it is a bottleneck for them. that has to come in the form of two things, price cuts because it is competitive or more sales and marketing to get people to buy their products. dennis: it had an unexpected loss. we had a 4 million subscribers. making 7% of revenue from selling gadgets.

it is services. what about the 4 million drop if you have a new product out that is supposed to bring you growth, not lead to 4 million people quitting you. >> the company is somewhat painted themselves in a corner because you need the subscriber base to stabilize. if you don't maintain your subscribers now you won't have the subscribers to upgrade to in the future. there is a tricky balance right now, but there is still in that so they had to do is run faster and a treadmill game. apple for example has one of the best devices out there, still struggling a little bit. a lot of resources. dennis: when you see a company come out and attack another analyst instead of coming out with real figures saying you're wrong because of this, do you ever worry you are next to be attacked? >> we generally don't want to be attacked, the jobs are hazardous

enough for all of us. but we want to be very attractive, we want to look at the data. the data doesn't lie in they want to be focused on that. dennis: happy friday, appreciate you bringing yyur take on blackberry. >> thank you. cheryl: a time when most are thinking about what to put on the grill, the cost will be determined right now. the latest on just-released crop report. dennis: skinny jeans are going to cost more things to a big fat hiking import over there costing jeans makers here. cheryl: on a day when the market looks like this, a bold challenge goes out to our stock pickers in the summertime challenge. we will bring you their stock plays coming up. a look now at the energy market.

cheryl: ibm asked to call just told you at the top of the show the biggest drag on the dow,

this is really the biggest story, the quarter ending today. take a look at the last three months. major indices are going to be higher for the quarter. not substantially. we are going to have a quarter for the s&p, nasdaq and the dow. that should be ending to the upside barring any crazy events between now and 4:00 p.m. eastern time. i just mention the lovely lady on the new york stock exchange. let's bring her in in person. nicole petallides on the nyse. nicole: thank you. some casual dining stocks. noodles and company. a catchy name to start out with. up 95% today, that is an unbelievable ipo. priced at $18. you can see it scoring 95%. grown to 2500 franchises

currently 343. they will build the expansionary former chipotle mexican grill. we have seen that group doing very well, and fast casual eateries have seen their sales grow faster than other parts of the industry and so this company is doing extremely well. this one is another story. cheryl: nicole, thank you very much. we will have that at the bottom of the hour. nicole, thank you very much. dennis: european union has raised its terrified american-made women's jeans. 38% rate, 38% taxes more than triple what it had been earlier this year. a big hit for u.s. senate makers. resident of the california fashion association suggest makers may be forced to stop exporting to europe entirely. >> have to drop their price to

be competitive with these brands in europe, just in europe, or they will not sell to europe or they will make it elsewhere. dennis: joining us now with more. speaker that is right. $51 billion industry gone from 10% to 38%. what is luxury denim b? we're talking true religion, j brand, hudson and this new tariff basically means their prices will go up 26%. how are the jean manufacturers going to handle it? hudson came out and said we're just going to swallow the cost but for the workers based in l.a., 70% are based in l.a. true religion was telling us they have had to move their workers elsewhere.

move the manufacturing out they can move to europe because the reason is europe is the second-biggest market for premium denim. not like because in japan it is dominated by the japanese denim. dennis: who is mad at us that they did this? >> essentially the fashion industry says this comes back from decades and decades of different types of trades back and forth, so they say what they want to do is talk to their legislators, centers and get something done about it to fix it to bring it back down. 122 is high for a tariff on denim. >> what is their beef with the united states. something they are trying to import into the united states, i think that is the next question. >> there are bunch of different factors that contribute to it. they actually are not totally awwre of why this is the case. they did not even find out about

it from their own suppliers, i found out from poland. the california fashion association found out from the polish side and they were totally blindsided by it. dennis: in the late days of the bush administration i remember them raising taxes coming in from china launching a trade war there. i much more against raising taxes on skinny jeans, i think it is a terrible move they have made in the fashion industry. cheryl: okay. thank you. >> we like our skinny jeans. cheryl: take a look at this, the worldwide cost reaching $8 billion over two years according to enter paul. now teaming up with a security agency to get that number down.

dennis: more on the crop report and what it will do to the cost of your summer barbecue. we went out and asked people a simple question: how old is the oldest person you've known? weave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, e thing that hasn'thanged much is the official retirent age. ♪ the question is how do u make sure you have the money you need to enjoy all of these years. ♪

>> 23 minutes past the hour, this is your fox news minute. president obama in route to johannesburg is not ruling out a possible visit to see

nelson mandela. things did not want to be intrusive to the family. the former south african president is showing great improvement compared to a few days ago. in florida w the witness in the george zimmerman murder trial testified he was outside his home and saw the tussle between zimmerman and trayvon martin. saying the lighter skinned man was on the bottom in the fight. john goode said he heard a gunshot after he returned inside dial 911. zimmerman is claiming self-defense in the february 2012 shooting death of trayvon martin. and take a look at the action in chicago, live pictures. thousands of hockey fans whining thliningthe streets. it is chicago's second nhl title in the past four years. those are your headlines. back to you.

dennis: cyber alliance, security firm trend micro partnering with interpol to take down cyber criminals. trend micro will try to curb the worldwide cyber pandemic. joining us from washington is vice president of cyber securi security, a friend of the show, thank you for being with us. first question is why singapore? >> essentially they are setting up the first cyber fusion center to allow for collaboration international investigations dealing with an adoption of technology by organized crime. most of the major organized criminals to the japanese to the drug cartels themselves are using cyber in some capacity for cyber intelligence or just for hacking purposes. we need to collaboration to

thwart this threat. dennis: it seems the main wurst suspects changes. a couple months ago we were talking about china hacking into 140 different companies sometimes for months. i heard a report of other developing nations and the report yesterday saying india. is this a distinctively and national problem, and asian problem or everywhere? >> there are no sovereign boundaries in cyberspace. the rule of law does not apply as much as we wish it would. no one country can control cyberspace. there are too many asymmetrical abilities allowing for one or two to become more powerful regimes in this case. dennis: what exactly when agents go there, what do you teach? >> we teach them many different things, how to identify if there has been an intrusion into folded breadcrumbs back to where the attacker may reside and how

to defend against persistent threats. we have a unique tradition because we have 1200 threat researchers dedicated to look at the cyber landscape everyday. with that we think we should help civilize the landscape. dennis: we had a chart showing percentages by country and you said the u.s. had 28%, what does that mean? 28% of the 35% of the world, what does that 35% figure represent? >> there is not necessarily more hacking by citizen. more have been colonized and utilize by adversaries around the world. more people are using the network and they would think.

dennis: i like that phrase. thank you for being with us today. your summertime fun can cost you a bit more, and it would get the latest headlines with today's crop report. cheryl: the summertime showdown coming up. listen to this. >> i'm the chief investment strategist in philly. a philly cheesesteak that my stock picks beat yours. if you win, i will buy you two. >> looking forward to the summertime showdown and i accept this challenge and i will match his philly cheesesteak with a new york pizza. i want to make things more secure.

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>> stocks now. nicole petallides standing by. johnny what is interesting with nike is china is what people would be looking for. they did see that outlook for china being a little bit soft. nike, right now is down 1.1%. 40% of the shipments were the new blackberry ten. that is a disappointment. people were hoping for more. its business for consulting is flowing even further.

>> thank you. dennis: we are getting the full alerts of the crop report. we have wgn business director. thank you for being with us. what do you think of the minor point? >> we were looking for less amount of acres because of the web spring. we have had an unusual couple of months. five months later, we could not

ship because the water was too high. the heavy rains, i think, caused the question of will we or did we get as much as farmers said they would plant in march? well, we did. it is interesting to note that the increase in those foreign acres came in places like the upper midwest. some traders will comment on the fact that i love, and -- the three eyes are down. some people will say that is where we get the best yields. dennis: okay. you are much better at this.

tell me, the fact that there is more acres means they expect prices to be cheaper. >> a bigger corn crop. they have been really stunned by the prices of seven-eight .a bushel we saw last year. it will help their financial statements. then you'll have the producers of the grain saying, wait a minute, it is costing a lot more for seed and ferttlizer and everything else. i think content is something we ought to look at also. demand not nearly as strong as it should be. the other part of the report today is the grain stocks.

i think the cork it reacted to that where last time i looked, july corn was down six cents. i think december corn was down ten or 11. traders are buying the old crop because of the type of supply. dennis: thank you very much for being with us today. i think content is down. we appreciate you being here. great job. great voice. >> thank you. cheryl: from the farm to the store. jeff flock joins us now from a midwest grocery chain. betting on the consumer in a

battle against whole foods. jeff: this store is more happening they grocery store, i think. we have the chairman and ceo with us. the store has your name on it. >> right. it is all out a food experience. jeff: here is what it is. the offerings, the organic offerings that you get at a whole foods and you also get the staples that you would get at target where you can buy toilet paper and not have by organic toilet paper. no offense to organic toilet paper. >> we can save them a trip and combined trips for them. jeff: this is not so much a grocery store, it is a

happening. this cost a lot of money. stock dropped off in 2012. you invest a lot of in this. >> we were very pleased. jeff: are you ready for walmart? >> we are bringing great food and a great environment with good and affordable price. jeff: ceo of this chain. the store with his name on it. i will ask, whose idea was it to put the names on the store? i do not think it was his. cheryl: absolute. those chains are great. thank you very much. dennis: we continue to follow the downturn in the market

today. down 56. cheryl: a great day to have these guys with us. our fox business showdown. [ laughter ] ♪ friday night, buddy.

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tracy: i am tracy byrnes with fox business brief. consumer sentiment coming in better than expected. households with income above 75,000 reported the biggest gain. ford recalling more than 13,000 vehicles. it affects the 2013 model of the taurus and suvs. ford says no injuries have been ported from the problem. happy 60th birthday to the corvette. the car first rolled off the assembly line in 1953. the world's longest running continually produced passenger car. that is the latest from the fox business network. giving you the power to prosper. ♪

♪ cheryl: get ready for the showdown. to stock pickers against each other. our challengers today is jim taking on rob morgan. your reputations are not the only thing on the line this morning. we have food evolved now also. let's get this show on the road. let's go with your first stock. it is microsoft. >> i have been a badger of microsoft for quite some time. i think they are changing their energy. they just released windows 8.1. that will give them momentum in the mobile market.

they also struck a deal with oracle. i think that they get it now. i am very excited about microsoft over the next month. cheryl: we will go from technology to travel. jim, you are picking orbits. >> yes. what is cooler than going to orbits.com and booking a summer getaway. consumer confidence is up. we like the blue from the traditional bookings to online bookings. 50% of all transactions are done online. we think they have a great friend. they are the fourth biggest player to do well in this space. we think they have great consumer loyalty. we like their growth story as they move away.

cheryl: travelocity, step aside on that one. let's move onto the next pick. >> most americans would know dover as the elevator company. they have had great internal growth. they have had 200 accusations sent 1995. essentially, from a dividend standpoint, they have raised the dividend 457 consecutive years. you can fake earnings, but you cannot fake dividends. cheryl: gym, to you. >> this will earn me my two philly cheese steaks. they are deleveraging. they brought down the debt. they went public in 2012.

they will be coming out with new products that keep our drinks cooler in the summer and warmer in the winter. we think it is what they are doing on the innovation side he is picking microsoft, what do you say? that very few people have heard of. i respect that. >> i will look forward to that. cheryl: to all of you at home right now, tweet me with who you

think will come out on top. i want to thank you both for joining us. someone will be eating cheesecakes or pizza. we will figure that out. check-in on the competitors. chad morgan lander. chad is ahead right now. next week, matt mccormick will challenge robert luna. thank you very much. good luck. dennis: time for stocks now. jonathan, it looks like you guys cannot make up your minds. >> we have down stopped the lower levels that we have seen. as we finish up today, it will

infuse a lot of volume and volatility into our markets. what we are starting to see is a lot of investors do not want to get involved in that. it seems now that this market has tried to move higher. we turned positive for a little while. we still have plenty of time left in this session. dennis: have a good weekend. watch out microsoft and sony. google may be gunning for you. google is developing a videogame console to join the battle. maybe google suffers from apple envy. it wise for google and apple to join microsoft and sony and

consult? while google may envy apple, you have to ask, has apple lost its cool factor? it sheds any claim to sexy new features and favors this. the basic message designed by apple in california. we are not designed in korea. it is like a legendary car frame. nevermind that the japanese turned out better once. cheryl: the big headlines for several states. we will be right back. ♪ i don't like the ups and downs of thearket, but i can't just sit on my cash. for the lo haul. isres minimum volatility etfs.

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cheryl: time for your west coast minute. gas prices in california gained after two tank shipped to south america. some of the plant is coming from chevron's california plant. california blend gasoline. it does trade on the 9's, by the way. the state's economy is on the rebound. merchants sold $3.8 billion worth of goods. especially in the construction industry. the vehicle sector, of course, the lodging industry. take a look at what is forecast

today. these are extreme temperatures. an excessive hhat warning has been issued for this weekend for parts of california, arizona and nevada. potentially breaking a world record of 134 degrees. we will keep on that. that is your west coast minute. dennis: back to blackberry. chris says the shorts on them yesterday were like 37% of flow. everyone was standing around the fire waiting for them to burn. analysts could still blackberry for slander. blackberry has no money. darrell says, if the analyst is

buying, is blackberry supposed to say, oh well? they take a lot oo junn and media. >> i will be there at the close. what a week. it looks like we will actually be higher for the week. it is kind of off and down right now. the quarter is going to be positive. >> we always think that the markets know everything. sometimes you worry that the markets do not know anything at all. cheryl: ibm is really dragging the dow down. it will be higher by almost 3%. i wanted to give the bowl over year that final thing to feel good about.

[ laughter ] cheryl: don't you wish you were forced to rest on the job. new regulations threatening product dimity. dennis: and iranian shortage that they affect you. cheryl: james bond fully functional submarine car hitting the auction block. dennis: we have lori rothman and adam shapiro coming up. they great weekend. ♪

lori: good afternoon. i am lori rothman. i am happy it's friday. >> i am adam shapiro. lori: it has been a brutal couple months. that's our we will learn just how bad it has really been. hanging up on blackberry.

the stock pummeled after a surprise loss third partners join us on the biggest problem and how it's $3 billion cash could help. lori: time for stocks now. nicole petallides. nicole: we certainly have come up off the lows of the day. looking from index to index. there are a lot of names under pressure. it is a winning week. i wanted to take a look at two names on the move. ibm is down. there is a tech showdown for you. apple and microsoft. both of which have down arrows. ibm is to the downside. they had to cut the full-