"the budget crisis iour trina". that's what lifornia governor arno schwarzenegger said today in his state of thstate address. california budget deficit now stands at $20 billion. schwarzenegger wants theederal government to help cse that shortfall. he says californ sends far more money to washinon than it gets back. he wants that change. also proposed a big jobs program: half a billion dollars to crte 100,000 jobs. >> tom: if you he a question about filing your tas, calling the r.s. may not be your best bet. an i.r.s. watchdog sayyou'll likely be onold for a long time, and if a customer rvice representative actuay picks up the phone, consider yourlf lucky. the percentage of callers o reached an i.r.s. employ has been falling for thr years. the agency has set aoal of answering 71% of cal this year from taxpayers looki for customer service. >> susie: the "money file" tonight, why smaller is ofn better wheit comes to your bank. here's johsimons, personal finance itor at black enrprise. >> reporter: jt before the christ

first solar, trina solar and renasola all moving sharply higher. m.e.m.c. electronics also getting a nice pop, up 11%. the company known for its silicon wafers used in semiconductors also makes solar panels here in the u.s. so with supply disruptions in japan likely, demand for its solar panels is expected to soar. we also saw some weakness today in luxury goods makers. japan is the world's third largest market for those goods. so coach and tiffany, both lower. about 20% of their yearly sales come from japan. and analysts expect a drastic cutback in consumer spending in the region. and wrapping up, a big deal in the works today. warren buffett is buying lubrizol, the specialty chemicals maker. it was only a week ago he said his berkshire hathaway was shopping for new acquisitions. then today we hear a $9 billion deal for the maker of lubricants and petroleum additives values lubrizol at $138 a share. it also includes the assumption of $700 million in debt. lubrizol shares surged almost $30 to $134.68 a share. that's a jump of 27%. and that's tonight's "mark

sun power rose by 4, and trina toll ar was higher by 12% today. on friday we told you about at&t's proposed takeover of leap wireless. that sent shares of u.s. cellular soaring. the acquisition makes u.s. cellular the largest regional wireless provider. the stock finished the day up 8% to close at $38 and change. and late today, cintas, the maker of corporate uniforms gave investors a weak outlook for next year. that ceo is blaming economic uncertainty including president obama's new health care law. the stock closed the regular session lower to 12 cents to $47.88 and fell further after hours. >>> there's a silver lining from the financial crisis and the recession. more women feel empowered now to take charge of the money and financial future, according to a new study, 62% of the women are interested in learning about financial planning, retirement and investing. here to talk about the data is katie libby. katie, this is good to see this kind of growth, women for years have had doubts about their ability to invest in financial matters, it stayed o

. >>> chinese solar panel maker trina solar beating expectations. they are easing depen dance on europe. shares soared more than 15% to $7.82. >>> shadow banking, financial intermediaries aren't regulated like banks and in china, these kinds of risky financial transactions are more prevalent than ever now. why regulator s in china should be worried. >> reporter: when you first meet lu, it's hard to believe he's a shadow banker. with experience at a wall street firm, he is working in by shang that matches with small-time investors that want to lend. >> in china people think shadow banking is scary and bad. >> reporter: many find it scary because they fear it could threaten china and the world. the unregulated industry has untraditional financing to indirect or off balance sheet loans from banks. >> now that we see banks off loans more and more assets into these hidden channels, it is difficult for anybody, the regulato regulators, us to really know what the positions are of banks or borrowers and it's an important part the market is missing. an incre

panels made by trina solar will carry almost a 5% tariff, suntech panels almost 3%, and panels from all other chinese makers, nearly 4%. the case stems from a complaint by a group of u.s. solar companies. they believe the chinese government puts tons of money behind its solar industry, and those chinese makers dump their products at below market value in the u.s. >> susie: we're getting word of fresh changes at hewlett-packard tonight. "the wall street journal" reports c.e.o. meg whitman plans to combine the tech giant's printing and personal computer groups as part of her efforts to turn h-p around. one of whitman's first acts as c.e.o. was to reverse a decision by former c.e.o. leo apotheker to dump the p.c. business all together. combining printers and p.c.s would help h-p cut costs and could result in significant job cuts. h-p's not commenting. but investors were. hp shares fell slightly, down about 1.5% to just under $24. >> tom: in fact this is the first time h. p. has closed below $24 since last fall. some selling pressure taking hold there for h. p.. let's get you updated with t

trina solar falling to a one month low. suntech sitting just above four month lows. watch for the possibility of a weekend merger deal. the "wall street journal" has reported that schlumberger is talking with smith international about an oilfield services deal. both stocks saw big volume. with schlumberger moving lower, you could guess that it would be the buyer if there is a deal at all. we've heard a lot of market pros predict more volatility this year, but look at this. biopharma company xenoport was trading along steady until thursday when it dropped 66% after the f.d.a. did not approve a treatment for restless leg syndrome. today, it jumped up 25%, possibly on some short covering. a bigger drug company to watch for next week is astra zeneca. the company faces two legal battles. one product liability case and the other defending its patent on cholesterol drug crestor. monday earnings include campbell soup, lowe's and nordstroms. and that's tonight's market focus. >> tom: no sign of inflation, the federal reserve making its first small move on interest rates and d

we'll also see quarterly results from medtronic, trina solar and williams-sonoma. and, our "word on the street" is "tech." we'll look at three top tech stocks poised to benefit from back-to-school shopping. ford and toyota are teaming up to build a new gas-electric hybrid engine to power pickup trucks and s.u.v.s. that's right. the rival automakers say this is the first time they've worked together on product development. they say doing so will allow them to bring the new technologies to customers sooner and more affordably than going it alone. but you probably won't see those engines in showrooms until the end of the decade. >> tom: wild swings in the stock market aren't just scaring investors, they're scaring many companies hoping to go public. since august began, 17 companies have pulled or postponed their planned initial public offerings. just four companies have taken the plunge and sold shares to the public for the first time. a firm that tracks this data, dealogic, says it feels a lot like december of 2008, when the financial crisis was spiraling out of cont

. >>> a big sell-off of shares in trina solar. its quarterly results also missed expectations. shares slumped more than 5% to $10.36. >>> a unit of citicorp must pay a fine for lapses in supervision. the financial industry regulatory authority found that the company failed to adequately supervise its research analysts' interactions with bank clients. the bank neither admitted for denied the charges but consented to the finding. shares rose 1 1/2% to 54.40. >>> renting redbox movies is about to get more expensive. the owner of redbox kiosks, outerwall, is hiking the prices for renting movies and games to help fund improvements in its business as streaming sites are reducing demand for dvds. they'll be $1.50. shares rose by $8 to 71.39. >>> after the market closed today workday posted a smaller loss than expected for the third quarter on better than expected revenues. the maker of rehumhuman resourc software was in line with street views. shares tumbled initially in after-hours trading. in the regular session shares slipped to 92.49. >>> could disappoints sales of the galaxy smar

chinese solar panel manufacturing trina solar quadrupled thanks to stronger global demand for solar. the company also raising its full year shipment guidance by as much as 16%. shares initially surging higher in premarket trading and closed the day up more than 1% to 10.33. >>> two-year contracts are going by the wayside and the subsidies that make buying the smartphone cheaper. at&t is the only nationwide carrier to still offer those longer contracts. sprint's ceo says it's a way to keep up with the changing nature of business. >> the 199, that is the thing of the past. the industry has changed. consumers used to pay 199 for a phone but paid a much higher monthly fee. i think one of the great things about the industry, we have them bundle it. >> the senior editor joins us now to discuss what this really means for you and what everybody must be asking, dan, is, net, net, in the end, when i'm through with it, is it going to cost me more to buy a phone and operate that phone under a no contract system than it did under a contract system with a subsidized phone? >> i think at least your

jinko-solar, trina solar and suntech all trade below $10 per share, but they rallied by at least 27%ach today. last year, this sector was hit hard as solar panel prices collapsed, cutting profit margins for the manufacturers. and that's tonight's "market focus." >> tom: it is a tug of war over outlooks. the s&p 500 is at its highest level since july suggesting earnings optimism. government bond interest rates are nearing their lows of last fall, suggesting economic pessimism. tonight's "street critique" guest says investors need to watch profits, not politicians. he's michael farr, author of the arrogance cycle. always great to see you michael. happy new year. >> thanks, great to be with you, happy new year to you. >> tom: a strange con verge ends, both stocks and bonds rallying. what can we take away from that? >> well, a little optimism, a little bit of fear, i think. when you consider everything going on around the world, the u.s. still seems to be a pretty good safe haven, but i think with sources of government money coming still into the markets from around the world, there are