borrow it at a very cheap rate. you want to own financials, materials and industrials. i don't see the dollar taking off from here. between now and the end of the year i things will definitely work their way higher. [closing bell rings] liz: dan, chief investment officer. 3 billion under management. s&p just slightly above the flat line. could that be a win. dow down two days in a row. there is the closing bell. melissa and david picks it up for apple and twitter earnings. charles: we have another busy hour. stocks fighting for some sort of gains as the closing bell sounds on wall street while the second day of the democratic convention is about to begin. melissa: this is "after the bell." here is what is happening at this hour. day two of the democratic national convention kicking off minutes from now, followed by a roll call vote that will make history officially nominating hillary clinton. but will we see chaos on the convention floor from very vocal

sanders supporters? we'll take you there live. we're also keeping an eye on protesters making their way to the convention arena. their mission? to convince delegates not to vote for clinton. we get a live you update outside as well. we've got two tech giants, big deal, apple and twitter, releasing quarterly results, will happen any minute. give you numbers you need to know the second they come out. we have a lot to do today. charles: we do. apple could push 5% either way depending on reports. stocks climbed back in final moments of trading. the dow is negative way off its lows, ending the day down 20 points t was as low as 106 to the downside. phil flynn, fox business contributor watching oil and gold from cme. lori rothman from the floor of the new york stock exchange. lori, what was behind the turn around for stocks? reporter: a tug-of-war for companies that reported earnings.

the dow did close down but well off session lows. mcdonald's, 3m, disappointing results, shares a little lower versus caterpillar and united technologies which was pretty decent. you have a fed meeting going on. we another here the announcement. the statement will be the big deal. we'll see if we get tightening by end of the year. might be a wait and see going on. we're waiting for twitter options. markets forecasting 8.4% move in either direction, looking for 36%, 37% let's call it bump up in profit for shares of twitter. i will follow that for you. apple, headliner, this is getting a lot of buzz. earnings expected down more than 25%. this is all before the iphone 7. people are already writing off this quarter. i will march on back it my post and wait for twitter and come on back for you guys. melissa: thank you, lori. oil continues to fall under 43

bucks a barrel, lowest level since april. where do you think it heads from here? >> i think it is very disturbing at these levels especially when you saw the earnings we saw from bp this morning. this is a danger zone for energy companies not only here in the united states but globally as well. once you start getting near the $40 a barrel area, that really hurts their profitability and means more canceled projects down the road. technically, by really closing below 100 day moving average, we have a pretty good chance that is $41 or $40 very quickly, if we don't get help from inventory numbers we get preview 4:30 eastern time from the api and help from the fed tomorrow. those could be two things that could turn the market around. other than that the charts look bad. back to you. melissa: thanks, phil. charles: as phil said, help from the fed might turn markets around. dow was in the red but investors

are waiting for clues from the investor reserve. let's bring in today's market panel. jonathan hoenig from capitalist pig hedge fund and jason rotman from lido isle advisors. we have the a crowd in today. gary, i have to go to you first. i don't think that janet yellen will raise rates before the election, i just don't think she is going to do it. she doesn't want to leave hillary with a down market. should she though? forget about predictions, should she be raising rates right now? >> it should have been a while ago but look, knicks will win nba championship before she raises rates at this point in time. charles: okay. >> no rate hike tomorrow. no rate hike less rest of this year. amazing part s&p is at all-time highs. there is still easy money across the globe. charles: jonathan, the royal bank of the scotland announced today probably, they haven't done it yet, they will probably going to start to charge depositors for keeping their money. melissa: that is amazing.

charles: it is mind blowing. the banking community, the whole financial world around the world, around the globe is going nuts with this. it doesn't make sense. will there be something to pay for all the absurd policy we're beginning to see? >> david we know there is no such thing as free lunch in economics. we always ke this time it's different. this time it is different. what we're seeing, what you're describing, not just from central banks here and abroad, is unprecedented in the history of modern finance. i'm a bull on the stock market. look today, you have 200 some new highs, only a handful of new lows. i think fed unfortunately, dave is the real question mark. the economy is easy to predict. what politics do, what janet yellen does is much more difficult. charles: jason, the question whether the central banks of the world including our own fed which will be reporting tomorrow have lost their way? they're not supposed to be just for rich guys on wall street, right? >> true.

they do have two mandates, price stability and maximum employment technically but i think we know there is a little bit more than that going on behind the scenes. with that being said i agree with jonathan, i'm a bull on stork market but more importantly for viewer, they need to watch the russell. the russell is only major index that has not surmounted all-time high. that will go up more than other indices. charles: gary, i have to turn it into politics. we're hearing a lot of talk about a rigged system from both democrats and republicans. i think central banks are pretty much proving that right. >> here and around the globe they have rigged every market, every asset price, every data point and you're seeing some outcomes at it. because of easy money, you get a ton of buyouts. today analog devices linear tech, they're buying them for too high of a price because of easy money. these are bubbles created over

time. i'm bullish on the market too. eventually worlds will collide. charles: easy for markets, not guy on main street. melissa. melissa: mcdonald's shares getting grilled today. fast-food giant reporting weaker-than-expected same-store sales growth in the u.s. jonathan, i want to start with you on this one. this makes absolutely no sense. people are uncertain about the economy. they're not going to mcdonald's. i thought that is where you went if you don't have a lot of cash? >> i don't buy it. this company is so successfully basically brought itself back from the brink. this is name you want to buy on any dip. it is multinational. overseas exposure. it reinvented its brand. more and more, people, melissa, are going out to eat. a lost restaurant stocks are performing. i don't own it. i would buy it on the dip. don't believe the headlines. i think this stock you want to own moving forward. melissa: i can't decide how i feel about all-day breakfast.

on one hand, you go in option of egg mcmuffin, $2.50 is cheaper than burger. they're losing money. on other hand i let the kids have a treat. if i go in, i don't mind having egg white delight. 250 calories. i would go there to something i have without feeling pretty guilty. where do you come down on the essential of all-day breakfast on the bottom line. >> you're getting me very hungry when i get out of here. melissa: meet you there. >> here is the problem, i think mcdonald's really got their big bang for their buck with their announcement of the breakfast all day, dollar men use. you are seeing it now, sales growth was down 4% for the quarter. the big problem for today was, mcdonald's actually said the whole restaurant industry is slowing down. so they whacked every restaurant stock from panera to red robin gourmet. i think you have a group right now, it is very competitive.

there is a lot of restaurants. by the way a lot of them shutting down across the country because they overbuilt. i'm not a big fan of restaurants at this point in time because of how much competition there is out there. melissa: not only that, jason, if you look where the stock has been, look at one year chart, year-over-year it is still up, 25, 27%, it had a good run. what do you think about it from here? >> i think it's a little bit overextended technically. i think that is pretty easy to argue but a couple of points. first of all, the competition on mcdonald's main products not talking about the all-day breakfast, great, but classic burger, fries, sodas, that is where the same-store sales are dropping. i look around, all these different boutique burger joints, five guys, et cetera, et cetera, are popping up. maybe they're a little bit more pricey. people are going there. they want a quote, unquote, higher quality product. that is where mcdonald's is suffering. kale is favorite item menu at mcdonald's.

melissa: you're lunatic. they have the best fries in the whole world. you're only one going to mcdonald for kale. charles: are you kidding? pub pin shun funds returns are expected to drop dramatically all over the united states and taxpayers could have to pick up the bill. aye yi yi. our own adam shapiro live from the newsroom with the very latest. sounds like grim news, adam? reporter: it is not good news, david, and here's why. this is just a projected figure. it is not official yet. folks at wilshire trust comparative universe, for second quarter, they have been following this for 16 years, average return for public pensions which invests mostly in stocks will fall below 7.5%. it will probably come in around 7.4%. why is that a problem? as the number falls, the return on investment the amount of

money out of your pocket as a taxpayer has to go up to keep these pensions essentially healthy and be able to pay retirees. 60% according to the national association of state retirement administrators, 60% of the public investment returns come from equities. so when the returns on stock are falling, it means taxpayers make up the difference. here's the problem. several states have unfunded liabilities in their pensions and according to the pew charitable trust, among the worst is illinois. they only have 39% of their state pensions funded. kentucky, 44%, connecticut, 48% and alaska, 52%, new hampshire, 57%. states that have been paying their dues towards their public pensions, south dakota, 99%, wisconsin 99%, tennessee, 94%. washington 88%. the bottom line, david, it is about choices. politicians will have to choose between either paving roads, buying school books for children in school, or paying retirees. it's a very difficult choice

that the country faces as more people retire and pensions which were not funded properly for the last 30 years now have to be funded. charles: easy to make promises though when you don't have to fund it which is what politicians did years back. adam, thank you very much. melissa? melissa: we're awaiting second-quarter earnings results from twitter. the report is due out any minute. want to go back to my panel for preview. jonathan hoenig, gary kaltbaum and jason rotman along with steve rosillo from the the wsj. -- "wall street journal." what are you looking for? >> revenue 600 million for the quarter, but still that would mark the 8th straight quarter of decelerating revenue growth here. it has been the same old story here quite a while for twitter. the business is struggling. the user base is slowing. it is pretty stagnant around

310 million monthly active users. that is not a lot when you see things like snapchat and instagram surpassing that. it is a tough spot for twitter. it is interesting to see what they can do, what jack dorsey can do to get them out of this. melissa: what is the problem with this, donald trump and i are neck and neck in terms ever hours logged. yet the company can't grow beyond that and monetize it, what is the fix? >> it's a greaeat company and i think a very fun service, melissa, really still quite an overvalued stock. keep in mind this came public with great promise about the monetizaton opportunity of a service like twitter and through what, a handful of ceos now, now returning to the founder they haven't yet begun to execute. what i fear even if the company beats and has a one-day pop, real long-term trend is downward. you know, keep in mind, twitter is almost like publicly-traded version of unicorns, high flying tech stocks, many are not public.

the fact it is so weak don't bode well for a lot of unicorn pie-in-the-sky type names. melissa: gary if you look at the chart, the stock has gotten absolutely crushed. it has lost half its value over past year. is that an opportunity or do you not catch a falling knife? >> it is down 50% in the last year. here is where i think opportunity is. i think they're a great buyout candidate and i don't say that very often. i think they get picked up on the cheap by somebody eventually. maybe a facebook, maybe a google, who knows. i think that is their lie line. bottom line this is a business as you guys said, completely decelerating. maybe they beat this quarter and the stock pops, i don't know but i would sell it on any pop at this point in time. melissa: yeah. jason, i mean the other big stock coming out today is apple. that is a story that is all about the iphone. what do you think about that one? >> i want to talk about twitter too. listen, apple is a buy. apple is not going away to use

another phrase from the financial industry, apple is truly too big to fail. it is not going to 70, it is not going to 60. if you're an owner you got to hoed. if you're not an owner you need to buy, follow buffett's lead. it will not have a big rally whatever the earnings come out as, okay? over long-term apple will evolve just like it has and will continue on its bull run. melissa: i think twitter is coming out right now. we're waiting for it to come out. looks like it might not be terrific news. steve, before we go to lori, give me your take on twitter as a target. who do you think would be interested? >> ever since microsoft bought linkedin last month, twitter's stock is up 30%. granted off a really low base. still seeing takeover speculation is fueling the most recent moves in the stock. who could buy it? who knows. maybe google, but, you know it is really hard to say. actually to be honest i really don't know why someone would want to buy it right now, so. melissa: i think we're ready to

go to the numbers, on your screen it is down 7%. lori rothman standing by with the actual numbers. what have you got for us, lori? reporter: 13 cents a share versus 10 cents. here is the problem, revenue was a little bit soft, 602 million versus 606.77 million. that was the forecast. we're looking at numbers now. monthly active users, 66 million. that appears to be a little soft as well. this is really been the focus, for twitter, about how much user growth. actually up just 1%. little changed really. not enough to really obviously impress wall street at least at this going. shares are down looks like 8%. we'll do a little more investigation. if you want more we'll be here, okay? melissa: lori, thank you. steven, what do you think, what is your reaction to that? >> that is a miss on revenue. that is the number people were looking at. interesting to see what the subscriber numbers are. twitter is trying to do a lot of things to juice their business. they have been inking deals with

major leak baseball and national hockey league. sort of a digital watering hole, hub for people to sort of gather on internet and talk about the games in real time. i think it is real interesting idea. the problem is that you're not seeing that flow through to the results right here in the short term. right now, tough to see what will boost the business. melissa: jason, you got cheated out of it last time around. let me get your reaction. we're hearing ad revenue is light. stock is down 10%. give me your take. >> makes perfect sense. waiting for buyout of twitter might be like waiting for gadot if everybody hear what is i'm saying. it may never happen. number two, i'm a strong opponent much twitter's business plan of doing live streaming sports event. first of all, even though sports are huge in country, it is way too niche. what will you do, 50 people huddle around a cell phone to watch the games. doesn't make sense. too hyper focused on one segment.

they're not doing a good job of evolving like facebook with intragram and snapchat. twitter is way beyond. melissa: jonathan i recently learned how to airplay television in the room with my apple tv i don't know what i'm talking about but i can do it. i can picture how you watch things on bigger screen. i'm sure nye nine-year-old can hook it up. i'm not worried about that. what about twitter's future. >> it needs to evolve. those of us on the service a long time this has come a long way. this is tale of two internet stocks. facebook not far from the 52-week high. it has dug itself quite a hole. melissa, the stock needs to go up 100% to get where it was last year. melissa: guys, thank you for your help. charles: market cap of twitter is like this, compared to apple. they're not.

stay tuned, apple coming up. that still exists on the denture, and that bacteria multiplies very rapidly. that's why dentists recommend cleaning with polident everyday. polident's unique micro clean formula works in just 3 minutes, killing 99.99% of odor causing bacteria. for a cleaner, fresher, brighter denture every day.

melissa: twitter shares sinking in after-hours. the stock is down more than 10% following release of company's second quarter results. twitter citing outlook next quarter well below estimates driving the stock down. could open tomorrow at a one-month low. david: not good. again we're still awaiting apple. we'll bring that to you as soon as we get it. meanwhile day two of the democratic convention, you're looking at live shot in philadelphia. hillary clinton set to make history tonight as she becomes first woman presidential nominee of a major political party. bernie sanders supporters would say, not so fast. but she can't get that without the support of the bernie sanders supporters. that is the problem. our own peter barnes is in philadelphia with the very latest.

peter, are bernie's supporters starting to come on board? reporter: they are starting to come on board. they want the roll call tonight, nearly 1900 supporting bernie sanders want a record of their support for bernie sanders. and then, they hope to try to unify around here. and, move on. and get behind hillary clinton. now this bill start with the alabama delegation up there. this is being done in alphabetical order. and we'll start around 5:00, or so, run for couple hours. at end of it, we do expect hillary clinton will be nominated. there is some talk about possibly having senator bernie sanders maybe, maybe not, come down, when she gets to the magic number of 2383, and asking for her to be nominee by acclamation. apparently negotiations about that but nothing confirmed. we'll be watching and her husband, bill clinton, will be speaking later tonight as the keynoter.

david, back to you. david: we'll talk more about that later in this show. peter, thank you very much. melissa: apple releasing third quarter earnings in minutes. it is still all about that iphone. we're bringing the numbers that you need to know.

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david: we're moments away from apple third quarter earnings. usually comes at bottom of the hour. we have three minutes. gary kaltbaum, hone and lance all -- all november. iphone sales are down. some say they try to make up for the difference by increasing their services and apps. will software make up for the losses in hardware? >> well i think services is a really important part of apple's business. you hear tim cook talking about it increasingly. you see fatigue building in on the gadget market.

they're obviously not selling as many iphones in the u.s. but they have headwinds in international market but the services business which has annuities is growing and growing. so a critical part of that irbusiness. david: jonathan, it is not sexy. when you look at new iphone -- melissa: are you kidding? you're insane. david: 6s was not successful. maybe they have more success with the next version but in fact, you know, software, no, no. you're misunderstanding, melissa. melissa: fabulous. david: software is what i'm talking about. software is not sexy. they will try to make up for loss of it phone sales, the sexy stuff with software sales. i don't find that to be interest, do you? >> david, to your point, something talked about, as an example apple watch, very sexy, hasn't contributed to a dime to apple's bottom line. to your point, they tried to grow on gadget side and hardware side, real growth is on services side.

i don't think the real growth is in apple. this stocks reminds me very much of microsoft in 2001. an old soldier that doesn't die. it just fades away. david: jason, 30% off of its high. you think it was way overpriced 30% higher? according to jonathan i think the answer is yes but that's a big drop? >> i get called a lunatic saying kale is my favorite menu and no one calls jonathan saying apple is old soldier and fading away? what is sexy about apple, is the $200 billion cash pile. that is the main thing people vote on. software, iphones, it will happen just fine, but apple has potential over long term to take over new industries a la self-driving cars. people got rich selling picks and shovels to the gold minders in 1849. apple can get rich taking over

auto driving industry by not building cars but by taking software companies. david: medical list is saying right. before we talk about whether the fed lost its way, i wonder whether apple lost its way, focus on stuff you can't put your hands on? what do you think about that? >> when you have a company that puts out a watch that is not working and now looking to get into cars it tells you something about their primary business. david: what does it tell you, gary? is it overvalued or not? >> they're worried about the growth of their business. there are reasons why estimates are to be down 30% year-over-year because they're not selling like they used to. it is getting a little bit old. unless they come out with a category killer, trouble. david: earnings came out. i'm seeing a pop after-hours. it is selling after-hours at over $100. lance, i understand iphone sales may have recovered a little bit. this is good news for apple, right? >> yeah, of course, apparently this is all people can focus on

whether or not the iphone is doing well, as you noted it is a big chunk of their earnings, it is important but i think, you know, we know that this time of year is never a super interesting time for earnings and never the biggest pop. i mean apple has never really had, people consider a bad quarter for apple? david: let me be specific here. iphone sales fell for second straight quarter, but fell less than expected, 15% drop was less than feared, is that correct, lance? >> that would make sense. it would make sense it would slow down a little bit and people are starting, going through sort of their upgrade cycles. they're actually in a weird spot here. the fact they could have a little bit of recovery during the summer right before the release of an iphone 7 -- david: we have twitter up on there. put apple back up and go to liz macdonald who has been following the release. go ahead, liz. >> they have earnings per share beat buck 42. wall street was expecting a buck 39. revenues coming in better than

expected at 42.6. wall street looking for 42.1. you're right, second straight drop in iphone sales, coming in at 40.4 million iphones sold. compared to 47 1/2 million iphones sold last quarter. so the quarterly profit did fall 27% overall. that is the bottom line number analysts cutting price targets ahead of earnings. shares are down 21% year-over-year. tell you something, the company still plans to spend $250 billion by march of 2018 on buybacks. coming in -- gross margin is still coming in sweet, coming in a little bit more than 37%. tell you something, when you talk about the gross profit margin, that profit margin for apple is equal to 1/6 of s&p

five profit margin between 2009 and 2016 according to goldman saks. we'll watch for china sales. cash pile is still sticking 233 billion bucks. that equates to the size of gdp of ireland. back to you guys. david: 5% jump after hours. just what we expected. melissa: looking at it going higher. that gross margin was what people were looking for, 37.5% range to 38. sounds like it came in at 37. i want to bring the panel back and i want to go to lance because i have upgraded all my products. every time you get a new one your head explodes because it is so much better than the last one. they have a new phone coming back in september. this panel is so down an apple. i'm ready to cash in everything i have to go buy stock. i'm surrounded by products. my kids forced me into it. and they're phenomenal. lance, am i crazy or is rest of the panel? remember whose show this is? david: it is ours.

melissa: david's. >> we love you. >> i'm shocked at some of the things i'm hearing. 40 million units sold? their competitors can't walk out with those kinds of numbers. that is before the release of the iphone 7 which is going to be a bigger change than iphone 6s. there will be more sales because usually more excitement. people have waited to upgrade. i don't -- melissa: oh, i hear jonathan. >> go ahead. >> yeah, i'll just offer the counter, melissa. nobody is disputing apple is amazing successful company. a company and a stock are two different things. i would use yahoo! as example after company grown last six teen years yet it's stock is lower than where it was since 1919. you might see profits expand but valuation -- >> i can't believe you just mentioned apple and yahoo! in the same sentence. i'm shocked. >> apple was i don't who in 1999. melissa: i live in apple ecosystem. david: there are a billion

people that do. a billion people! not just me. melissa: okay. gary, weigh in here. are you still there? >> my rusty abacus says put down 25% and their sales were down about 16%. that is not good news even if the market does up become -- bump up. apple does 250 billion in sales already. very tough to grow a business like that. i think it will be average stock at best. maybe it rallies up another few percent. maybe it comes down. there are a lot better on the market. i agree 100% with jonathan. melissa: i hear emac. hop in. >> sales in china have represented a about quarter of apple's overall sales. continued pressure. sales for greater china which include hong kong and taiwan down 33%. last quarter it was down 26%. year ago their greater china

sales had more than doubled up 112% year-over-year. huiwei taking big chunks of apple's business. melissa: yeah. >> i would not deny that one of the things that apple needs to do is introduce a new category. i don't know if that is going to be cars because i think that is super difficult to get into but one of the things that energized their business. i'm not denying looking at year-over-year earnings here apple did take a hit. they did go down. international stuff they have been struggling with that, so-called greater china for a while now. so there is something they need to do but they're definitely going to get a pop this fall. david: well they may indeed but, gary, that 38% drop that we just heard about from china, that not only says something about apple but says a lot what is happening with the world economy. >> yeah. look i was in china a couple months ago. david: i know you were. >> went to four or five apple stores, let me tell you something they were not very

busy these apple stores. business is down. simple as that they had better come up with an iphone that just kicks you know what or it is just going to be average stock going forward. they have to change the playing field again. david: hold on a second, jonathan. let me go back to lance for a second. why is it that the 6s didn't perform? the 6s was one first time brought these revenue numbers down. melissa: i will play with mine while you guys talking about this don't mind me. i look at pictures i have. david: jonathan working on his slide rule. >> i don't think necessarily fair to blame the success on 6s plus. david: let me ask. is it a worldwide, sort of exhaustion with the idea of new phones that now they are interested in more in what is happening with the icloud, what they get on in terms of their apps? >> i definitely think we have a little bit of gadget fatigue, and a lot of these products look the same. we do have to remember, samsung,

galaxy s6, had success with latest device. they did not have success with one previous to that. apple facing last quarter stronger competition in the handset area than they did before. cycles in the phones at least in the u.s. market are consistent. the general broader story is that party seems to be over. they are not simply every quarter seeing growth upon growth upon growth with the iphone. david: jonathan, melissa has been showing her apple phone. i'm showing my samsung here. i use samsung because one, it is cheaper. also i get it from the company in terms of buying it for myself a lot of people given choice spending 700 bucks for iphone getting much cheaper version will choose cheape >> indeed, david. there are no monopolies in free market even for tremendously successful company like apple which emac mentioned has cash position the size of ireland's gdp. no disputing a wonderful company

here but i fear the stock it is in this weird place not valued enough to be a real value stock and certainly not growth enough to be a growth stock. so the path of least resistance at this point is down. that is why gary b. -- david: hold on a second. $100. will it stay that way, jason. then i get emac in. >> yes it will. no reason for a company strong as powerful today as apple to keep going down. it will go higher. it needs to monetize its user base and needs to monetize its huge cash pile. it will be 150 next 10 years. david: get lower corporate taxes they can bring $200 billion back home. go ahead, emac. >> changing hardware to software to momentum play, cash pile meaning m&as. that would be quite a switch. wall street weighing in to me at desk. they're ballparking how apple is cheapest it has been in is a years, wow. >> price to book value.

trading now at 2014 levels. we're just watching what wall street -- david: carl icahn will get back in the picture. we'll see what happens. emac, thanks so much for breaking news with emac. we'll battle it out on phones. melissa: i'm tweeting on iphone. what earnings were we doing? the little combo? david: there is slide rule app i've been working on with the samsung so. melissa: protesters flooding the streets of philadelphia. thousands of angry sanders supporters taking a stand against the dnc we'll take you there live, coming up next. or stop to find a bathroom? cialis for daily use is approved to treat both erectile dysfunction and the urinary symptoms of bph, like needing to go frequently, day or night. tell your doctor about all your medical conditions and medicines, and ask if your heart is healthy enough for sex. do not take cialis if you take nitrates for chest pain, or adempas for pulmonary hypertension, as it may cause an unsafe drop in blood pressure. do not drink alcohol in excess. side effects may include headache, upset stomach, delayed backache or muscle ache.

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this is where my ancestors came from. and i absolutely want to know more about my native american heritage. it's opened up a whole new world for me. discover the story only your dna can tell. order your kit now at ancestrydna.com. put under a microscope, we can see all the bacteria that still exists. polident's unique micro clean formula works in just 3 minutes, killing 99.99% of odor causing bacteria. for a cleaner, fresher, brighter denture every day. melissa: twitter shares sinking after hours. the stock down more than 10% following release of company's second quarter results. twitter citing outlook for next quarter. go to lori rothman at new york stock exchange for more on this one. apparently donald trump not giving them a boost. reporter: hey there, melissa, little trouble hearing you.

they guided third quarter revenue way down of the revenue missed in second quarter. 602 million. wall street was looking for 606.77 million. twitter only looking for a range of 590 million to 610 million. the problem there is increasing competition, intensifying competition in fact for these ad dollars with the likes of snapchat and instagram and the high flying up starts. shares tanking in extended session. they come back slightly. off more than 10% at one point. back over to you. melissa: okay. david: thank you very much. apple going in exactly the opposite direction even though their iphone sales were down from last quarter but look what's happening after hours. emac has been all over it. what is the latest, emac? reporter: they beat on earnings per share line, a buck 42. revenue came in stronger than expected.

642 billion bucks there. cfo, breaking news, the apple cfo is saying they are seeing a slow down in china, meaning economy in china is slowing down. seems like apple is trying to turn the attention to weakness in china as the reason possibly why, behind why it suffered a second straight drop in revenue. you know, apple is at a critical turning point right now. across the board, its iphone, ipad, and mac sales are trending down and so there is a lot of talk right now in the apple conference call with wall street about china. you and i were talking about sales in greater china for apple. it is important. it makes up a quarter of its sales. those sales for the quarter are down 33%, worse than the prior quarter when it was down 26%. you know those sales had doubled in china last year, 2014 to 2015, more than doubled the same period a year ago. so the fact that it is talking about slowdown in greater china you have to watch stocks make a lot of money in china there.

david: absolutely. that is a solid 5% gain after-hours. we'll see if it holds. emac. thank you very much. melissa. melissa: protesters taking to the streets of philadelphia, angry to sanders supporters, bern or bust, baby. we'll take you there live. -- against the dnc. that is next.

melissa: day two of the democratic national convention just officially kick off as congresswoman and convention chair marcia fudge gavels in moments ago. we're expecting nominating speeches followed by a state by state roll call vote within the next half an hour. there you go. you're watching it right you there. meanwhile protesters storming philadelphia, working to advance bernie sanders's progressive agenda, to possibly convince

hillary clinton superdelegates to change their votes. i don't know about that. fox business's jeff flock in philadelphia with the latest on this one. how is it going there, jeff? reporter: melissa, working our way over to last chance essentially for people out on the street to make their voice known to the delegates. what they have done is linedded the fence that separates outside from inner perimeter. this is where delegates come in. they're holding signs. they're beating drums. they're chanting. trying to make views known and make those views known to the conventiongoers. listen to the chant. >> we won't vote for hillary. hell no, dnc, we won't vote for hillary! reporter: you heard it. remains to be seen how many bernie sanders supporters around the country will vote for hillary clinton, despite his exhortation to do so. i can tell you in this crowd,

this crowd is pretty steadfast in their view they will not vote for hillary clinton. they're more likely to vote for jill stein, the green party candidate. and some of them hope somehow maybe bernie sanders will pick up the green party banner. but this is the scene out here. they were exhorted down on city hall plaza to come out here and try and demonstrate to the delegates, some of the superdelegates, hey, look at latest polls. hillary loses to trump. if you don't want trump, nominate bernie. he led in all the polls, just like john kasich led over trump, over hillary when that one was a head-to-head. so anyway, this is their last-ditch hope. but it's a loud one. melissa. melissa: i wonder how all the bernie supporters got off work in the middle of the day on a tuesday? oh, no. reporter: if you're a

revolutionary you don't need to work. melissa: not starting trouble, jeff. thank you so much. reporter: have you ever been a revolutionary? david: i love her whoops. minutes away from roll call vote at dnc. bernie sanders supporters still showing opposition towards hillary clinton as you can he see there. visual proof. will there be protests on the floor? with more what to expect tonight, marianne marsh, square root principle, and a former obama fund-raiser and noelle nikpour, gop fund raidser. thanks to all. marianne marsh, tonight we'll hear from bill clinton who still has a lot of power within the dnc, but listen to what he said, i will remind folks what he said in 1996. i will get your reaction. play the tape. >> we know and we have worked to give the american people, a smaller, less bureaucratic government in washington and we have to give the american one

that lives within its means. the era of big government is over. david: all right, mary ann, how in heck, does he square the era of big government is over, what is going on with the dnc, with a socialist who is running, with hillary clinton's plans to spend another trillion dollars, how do those go points square? >> it is opportunity. to remind everybody that the greatest economy in our lifetime was under bill clinton and record surplus. but his real job he is uniquely positioned to talk about hillary clinton. nobody knows her personally better than bill clinton. nobody knows what it takes to be president. that is his job to tell everybody both those things about hillary clinton. i think tough thing is, nobody gave a better speech in 2012 to explain to the american people why barack obama should be reelected than bill clinton. so it is really high bar to hit and it is very personal. i'm concerned a bit how the bernie sanders supporters will react all tonight through the roll call, with bernie sanders, with bill clinton.

i think bill clinton, as we all know, nobody can give a better speech than bill clinton except maybe barack obama -- david: in 199, said the era of big government is over. how do you square that with plans by hillary, who is the least spender among the bunch of putting in an extra one trillion dollars into the budget? >> well, david, that was 20 years ago. you can't square that circle. it is now 2016 and bill clinton has been here before. the bar is very high as marianne says, but not so much because of his 2012 speech but because of michelle obama's speech last night which was soaring and one for the ages. but, this isn't bill clinton's first rodeo. i think interesting role he plays as the spouse of the nominee. i expect you will see more nancy reagan than ronald reagan. david: all right.

noelle, do voters not care? we have doubled the debt during the obama administration from 10 to $20 trillion. hillary clinton wants to expand it even more. does anybody care about that anymore? >> yes, and they should care about it. i think that is what you're seeing. why the bernie sanders, you know, movement is still going strong. they're tired of big government. and they see hillary clinton -- david: wait a minute. you're saying bernie sanders is tired of big government? >> i think bernie sanders, i think that the bernie sanders supporter is tired of the big government, meaning the big government as usual, meaning it is all about you know, how that they have been doing, things in washington just like the big government. not the fact that -- david: i want you all to know, by the way, melissa was literally crying when listening to that tape of bill clinton saying era of big government is over. it is certainly not over as this convention will attest. marianne, mark, noelle. melissa: came roaring back from

the dead. tale of two tech giants. apple, twitter after reporting earnings it this hour. twitter shares plunging 9% following second quarter revenue miss, waker third quarter outlook. twitter reporting its slowest quarterly revenue growth since going public in 2013 citing increased competition for social marketing budgets. apple shares on rise 5% even as iphone sales declined in the third quarter. fourth quarter outlook exceeds expectations. apple reporting its quarterly profits fell 27%. revenue also fell for the second straight quarter. david: that was a mouthful, melissa. melissa: i speed read. david: a lot of activity inside of the convention hall. a lot going on outside as well. we have it all covered for you. stay tuned.

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we are awaiting rollcall vote as the democratic national

convention. how will the burning some sanders supporters go. it is a complete coverage in analysis against right now. it's already started. stay with us risk and reward is right now. >> i look forward to your votes during rollcall tomorrow night. deirdre: sanders told his supporters to vote for hillary clinton. it is unclear if it well. we are moments away as the presidential candidate for the democratic party. tension is building. delegates pledge to the protest on the floor. some say they may attempt to stop