it is. >> the dow component 3m reported a quarterly profit of $1.01. 3m saw sales growth across mostss segments. general motors beat the streets expectations by 9 cents. gm was held by stronger demand in north america and cost cutting efforts in europe. stock is up better 2.5%. it comes out a day after incredibly strong reports from ford as well. we will be watching facebook stocks, soaring after revenue both beat the street t. special networking reportings an uptick in daily service. analysts say facebook showed it can thrive on smart phones an tablets. it was up 17% before. 38 was the ipo. so 32.59. still climbing back. they certainly silenced critics with this earnings report. >> someone is leaning in there. >> i have a big case with you there. they are pumping those -- >> you are? >> we advertise our band, all through facebook. we have 2,000 likes on the page. we tell people about the shows through facebook. that's how we do it. >> you are a big, what are you? >> let's not talk about. my handle is i'm having too much fun. >> what was your name? >> carlos, alberto menez. >> that's

we have some of the best innovation companies, 3m is one of them.dards are using so much technology now and into the future. >> do you make the cars safer with things you've learned? >> i think we do. there's crush zones. we have safer barriers that we have developed. we have got a track-drying system that cuts the drying time of an event down by 80%. >> that's amazing. >> that will be good on roads or bridges or a tennis tournament or two. >> next contract you can ask for more money? >> we're going to try. that what's we do. those discussions are going on now. >> terrific. that's brian france, chairman and ceo of nascar, which is doing fabulously and is certainly attracting some of my favorite companies to advertise. thank you so much, sir. good to talk to you. stay with "mad money." >>> "lightning round" is sponsored by t.d. ameritrade. >> it is time, it is time for the "lightning round." buy buy buy, sell sell sell. play this sound. and then "lightning round" is over. are you ready skeedaddy? "lightning round," why don't we start with charlie in

we have some of the best innovation companies,3m is one of them.dards they're using so much technology now and into the future. >> do you make the cars safer with things you've learned? >> i think so. we have safer barriers that we have developed. we have got a track-drying system that cuts the drying time of an event down by 80%. >> that's amazing. >> that's good on roads or bridges or a tennis tournament or two. >> next contract you can ask for more money? >> we'll try. that what's we'll do. those discussions are going on now. >> terrific. that's brian france, chairman and ceo of nascar, which is doing fabulously and is certainly attracting some of my favorite companies to advertise. thank you so much, sir. good to talk to you. stay with "mad money." ♪ ♪ unh ♪ ♪ hey! ♪ ♪ let's go! ♪ [ male announcer ] you can choose to blend in. ♪ ♪ yeah! yeah! yeah! or you can choose to blend out. ♪ oh, yeah-eah! ♪ the all-new 2014 lexus is. it's your move. chalky... not chalky. temporary... 24 hour. lots of tablets... one pill. you decide. prevent acid with pre

pop came home with a new line of 3m he was selling, games. right they got into 3m bookshelf games.e said perhaps i might want to learn about -- more about how the stock market really worked and the company created two games about business. acquire about takeovers, which had been the range at the time. and stocks and bonds, of which i am fortunate enough to have gotten a copy here, courtesy of george, producing "mad money," who gave it to me for the holidays. i almost cried. i asked the ceo of 3m to bring the games back. apparently i don't own the rights anymore. the point mentioning this from my stocks and bonds which george bought off of ebay, the stocks are fascinating enough to get your kids started in them now. it's easier than ever. pick stocks, not of defense companies, but of companies familiar to your kids and have them track them and guess which will do better over time. not the city transport, not the growth corporation of america. not the pioneer mutual fund. not the central city municipal bond but was stocks that are real. bottom line, of my childhood stock market obses

or take starbucks and 3m, two companies that report tomorrow.e out what people originally didn't like about starbucks last quarter that sent it down to 60 after hours trading from 62 when it closed but it obviously didn't hold any water because the stocks moved methodically back up to 67. was at 69. well above where it was before it reported that so-called disappointing quarter. while we're on the eve of starbucks's q let me just say this danone yogurt tie-up announced today i think it's a pretty bullish long-term idea. it didn't drive up the stock today. 3m's much more problematic. when that company reports you have to hope it bested heavily slashed estimates a la what apple did. the ones that dropped the stock from 107 to 103. because the stock is now up nine points from before the slashing. i can't see where the business has turned, but maybe i'm being too negative because the stock's been a real horse. the turn in google is astonishing. last week all we cared about was advertisers weren't paying up for mobile ads and the mobile acquisition w

smart pants, buy boeing. 3m has tacked on 170 points. how did 3-m do it? think the stock's been on a roll because people believe that when the economy gets better, 3-m gets better. how about johnson & johnson, the third biggest contributor. this is a textbook case of how positive a mixed data environment is for stocks. just like some investors are buying 3m to play gravitation from mixed data to positive data, some are buying j and j. it's the perfect hedge for 3m. that's what happens in a bull market. you want totally nutty? how about the fact that the transport hit an all-time high. the transports. despite the fact that oil is making a new high. $108. commerce is slow. this is an indicator, people think mixed data leads to better data. rails really spicing the index up, courtesy of good numbers from two stocks we have been remorsefully behind. reasons, stronger autos, better chemicals, even better than expected coal shipments because of the increase in natural gas makes coal more competitive. i know many of you are skeptical of this space. i have to tell

you're an going to have to buy it back at lower levels. 3m has a big business. if you're talking to the ceo last night on the show and reading many reports of the continuing weakness in china, i'm getting a little nervous ahead of the quarter. they got a big asian business. even as i remain bullish long term about this fantastic, well-managed company. one of my favorites are, bristol-myers. this quintessential secular growth stock should give you a good read on its cancer pipeline. this is looking more and more like a bio tech. amazon also reports thursday. like netflix, this is a cult stock. what does that mean, really? simple. it really doesn't mean -- it doesn't really mean that amazon's earnings necessarily matter. yeah, not kidding. only netflix and amazon have this bizarre quality. unless they tell you they're never make money ever or they're going it burn all the money in a chimney, people seem to be happy with it. weakness equals buy. last but not least, we get a housing checkup on friday. has housing been hurt by the spike in mortgage rates? i'm followi

also thursday, we hear from 3m, the second biggest group. amazinging bull run this year after boeing. i think it may be time to ring the register on some. if you bought some of the stock with 3m reported last time and got hammered, but you know what? i don't know. you're only going to have to buy it back at lower levels. after talking to bill mcdermott on the show and reading many reports of the continueded weakness in china, i'm getting a little nervous ahead of the quarter. even as i remain bullish long-term about this company. bristol myers. when we get results from bristol myers, this growth stock should give you a pretty good read on its cancer pipeline, revalued upwards, largely, this is looking more like a biotech -- just wants it to come down so you can get back in. amazon also reports thursday. this is a cold stock. now, what does this mean? simple. it really doesn't mean what, it doesn't really mean that amaz amazon's earnings necessarily matter. yeah. not kidding. only netflix and amazon have this bizarre quality. unless they tell

how about three months ago when starbucks and 3m announced earnings. i remember it well because we were at villanova when they reported and 3m dropped a quick 5 points from 108 to 103. what was that about? it was a buying opportunity. the stock astonishingly rallied. it was a buying opportunity. i still can't figure out what people initially disliked about starbucks, but i remember thinking a chance to buy the stock below $60 where it was at nova. well, it was better than fine with terrific numbers from china and the united states, starbucks never looked back and a ten-point rally in a straight line. perhaps the best trade of all came from the highest growth stocks when the interest rate rally -- when the interest rate soared. now, these high-growth stocks are the ones you're never supposed to buy in an era where rates are skyrocketing. and after that move, i don't know how you can say rates weren't doing just that. you're supposed to blow out and then short the most richly valued stocks in the market as the rates rise signaling an oncoming inflation r

the let me move on with other companies in the news, nicole, come in and tell he me about 3m.ck. i know they've made more money. >> i had so much for you on facebbok, let's talk about 3m of the second quarter earnings on the rise and see what we're doing now, down 1% for this, obviously, a global company and a dow component and they did have sales growth, but it's to the down side. and next care advantages and post it notes. >> okay, give me ten seconds on facebook. i know you've got all of the material stored up there, what have you got? >> i was talking to the traders and they think that facebook is such a powerhouse and remains a mystery what they can unfold and showing that they're doing well in mobile advertising and the huge social app and the fact that they have streaming content and that there really is a lot of undiscovered-- >> all of a sudden, our eyes or the eyes of investors are open and up that thing goes. tell me about amazon, we flashed it briefly below 300, where is it now? >> right now $300. 21 cents a share and so the reporting after the bell today so we'll

and 3m is putting out a material, it's being used by our city and every one of our "street signs" come down. when a street sign comes down, san beerctionv dino does it, a lot of cities in california are doing it. san bernardino. * when you wipe it off it allows you to wipe the paint off. you don't get the run and such. so we're seeing more and more of it being used in california. you still have to clean it. it doesn't keep it from sticking, but it preserves the signs, don't have to keep changing the signs. >> all right. so, i want to actually ask a question of the attendees. was there anything about this conference that you can -- because basically we all live graffiti. graffiti is our live. we deal with it on a daily basis. anybody here come to this conference and whether it's from the panel or somebody that they spoke to here, one of the vendors that were here, that was something totally new, something you've never heard of before, something brand spanking new for you and something you want to take home with you to share with other people? chuck? >> we're launching our education prog

unemployment we get every thursday, also demand from durable goods and earnings from general motors, 3m, amazon and starbucks. the latter, too, should have fairly good results if i am any indication from my shopping of late. meantime, if you're shopping for back to school, it will cost more to buy pencils and, rulers and three-ring binders. prices for school supplies are higher to the huntington bank's annual backpack index. costs are up 7%. analysts aren't exactly sure why. it's a lot of the input costs starting to be passed along. almost every basic item expected to be more expensive. some by up to ten bucks. the national retail federation thinks families will spend an average of $634 on back-to-school shopping this year, that includes clothes, supplies and shoes. those shoes are always costly. >> ber think, always good to know -- get your starbucks, your mack. >> christina loren brings us the forecast. >> i'm also a very good consumer as well. >> 4:47. we have a good looking day shaping up. if you want to hit some ofhose back to school sales while they're still hot. 4:48. you can see

among industrials, ford and gm both beat expectations as did boeing and 3m. caterpillar, though, missed big time. sales of new single-family homes hitting a five-year high in the month of june, up .83% and above analysts' expectations. the third-straight month of gains in new-home sales. there was concern that rising interest rates would slow down home purchases. a massive hedge fund indicted, earnings season in full gear and the markets hitting new highs, a busy week. what does it mean and how does it affect your investments? joining me right now is burton malkiel, the author of "the investing guide, a random walk down wall street," princeton professor. good to have you on the program. >> thank you so much. >> thank you so much for joining us. it's been a busy week, hasn't it? we saw the federal insider trading charges against the huge hedge fund s.a.c. capital. do you think that has any impact on the retail investor? >> oh, i think it certainly does. i think people get scared, that the insiders have a real advantage over the public, and i think it drives pe

more than 1/10 of the index report earns today, we are watching gm and dow and 3m and others after facebook it out last night. f futures are reflecting the pullback yesterday especially among the chip makers and the transports and we will talk about that. the road map belongs with facebook on fire. the stock is on pace for the best one-day gain ever. the social network says it is monetizing mobile, and contrary to popular belief, teens are still using it. >> and general motors is beating expectations and showing signs of improvement in europe. plus one of the cars gets a rare award from consumer reports. >> and michael dell is writing a letter saying that he at peace because of what shareholders make. >> and sac capital could come the kaye and we -- could come today, and we could have more on that. >> and at least eight wall street firms raising the stock on facebook and the stock is growing after the second quarter results were out last night. they make up 41% of facebook's edadvertising revenue s and mar zuckerberg on the conference call last night. >> when it comes to mobile, i am please

posted notes, scotch tape 3m. they selling? >> they reiterated their guidance, but here's what you need to know. this is a classic buyback story. they said they'll be buying back 3 million to $4 million worth of stock. the important thing about this is they're saying they haven't done the acquisitions, they're not doing as many acquisitions. this is somewhat of an acquisitions story. you just want to look at that. >> i want an income statement story. let's go to dunkin brands. >> the big story is they'll be opening up in southern california. >> going after winchell's. does that still exist? >> i don't know. will they have bolder coffee in southern california? they beat on the earnings but potentially low-quality earnings. the stock is not doing that well today. it's off a little bit on a beat, so there is a little bit of concern there. >> stealth turn around, no one has been looking at this. this is a company given up for dead. it shows it has more than a heartbeat now. new products coming out, including -- what is it, a polyme

companies like 3m, microsoft or microsoft or johnson & johnson. these are fairly different industry, all of which are still reasonable, valued stocks. all of which have reasonable dividend that they pay to, 2, 2.5, almost 3% in one. cases all of which are growing the dividend. they're reinvesting their proceeds. they're buying their own stock with buybacks and their profit margins are 15 to 20. in the case of microsoft's situation, over 20%. heavy return on assets across the board. that's how you make money in a slower growth environment is by having a lot of profit generation and reinvesting that in the company. liz: let's talk about the loan atmosphere right now. we know that the government has wanted banks to loan more and if you're looking for, some type of a reactionary trade to that, what jason, do you look at? >> one of the things you can look at, banks have this kind of falls outside of our bucket but banks, particularly mid-level, mid-cap banks have an interesting position here in the environment. liz: it almost seems, jason, it almost se

minutes, weekly unemployment claims, also demand for durable goods plus earnings from general motors, 3m and amazon and starbucks a little later today. the dow dropping 26 points yesterday to 15,542, the nasdaq inching up one point thanks to apple to 3,580. meantime the senate passed a bill to lower student loan rates. the proposal will link rates on government-backed stafford loans to the treasury market meaning rates would rise in the future as the economy improves. the house has passed a similar version and president obama is expected to sign it. a lot of folks breathing a sigh of relief after the stafford loan rates shot up and doubled when they didn't get it done before july 4th. >> for sure. bertha coombs, thank you very much. 5:15. those government loans, jon and laura, are strange things. washington doesn't want to draw a lot of attention that it makes money on the deal no matter what the interest rate is. the government can borrow money at incredibly low interest rates. pretty much no matter what they charge the college kids, it's going to turn a profit. at least when it comes t

we've got boeing, cisco, 3m. united technologies, exxon, new highs across the board.stocks we want to shoi you, for-profit education companies, number one apollo group and a thumbs up on accreditation and bridgepoint. here is one way to stop the keystone pipeline, build a wind farm in its path. one group is pushing that to literally block the pipeline. meet a young entrepreneur who dropped out of school in the 8th grade, joined the military and now runs a multi-billion dollar business with employees. he's 29-- no, 27 years old. he's here in our next hour. the government's own bean counters have found $107 billion worth of bogus and excessive payments for 2012 and they're still counting. more waste still to be reported. that is taxpayer money wasted by the president's ever expanding government bureaucracy. here is my take. neither you, nor i, should be surprised. for years, we've been bombarded with news of government waste, fraud, gross inefficiency. who could forget the shrimp on a treadmill. surprised? no, outraged, as this president expand government so does the op

1967. 3m going back to 1965. a lot of history being played out. >> don't overlook what's happening with oil because we are watching wti which has jumped to 16-month highs. that's the other side, carl, of the stronger u.s. demand story. >> q&a continues. let's get back to washington, d.c. >> let me change the topic real quick to housing. >>> all right, thanks. welcome to "the halftime show." four hours until the close. green arrows across the board on this big day in the markets. here is what we're following on "the half." google glasses, what does one of the street's best analysts see for the company, the quarter, and the stock? >>> cat or dog? jim chanos goes short so why is one of our traders going long? one big debate is just ahead. first, a record day for stocks at the s&p and dow reaching their highest levels ever, and with bernanke back on the hill, are the markets finally getting his message and if so, what does that mean for your money? we'll bring you all the latest headlines from d.c., from mr. bernanke

and thursday, get ready to hear from 3m gm, amazon, and starbucks.back to you. >> all right. thank you so much for that. and, also, make-or-break time for netflix. >> slow down for a second! >> are you kidding? i'm never going slow again! >> dreamworks animation made a movie on "turbo" may turn out to be a dud. >>> plus, has the netflix trade ahead of the earnings monday, what's going on there? we'll find out. >>> later on, we'll send -- excuse me -- a message out to the interns. look at them. there they are. they're in a difficult assignment, on the side of the road, and there's an actual app to get the ice cream truck to your doorstep. they are waiting right now outside the nyse for a cold scoop of ice cream, poor things. they're looking everywhere. where is the truck? we'll talk to the ceo behind the app after this. in today's markets, a lot can happen in a second. with fidelity's guaranteed one-second trade execution, we route your order to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's al

. >> i like utx, 3m, a whole bunch of industrials in the portfolio doing great. we love financials.als in the portfolio. we had to suffer with them earlier, but they're doing well now. >> all right, michael, good to see you. >> thank you. >> michael crofton, philadelphia trust company, president and ceo. 20 seconds before the bell. it's a down day, but again, you have such a busy week. the market seems to be taking a wait-and-see approach. kayla and i will have that plus big earnings coming. herbalife is moments away. [ bell ringing ] >>> it's 4:00 on wall street. welcome to the "closing bell." i'm kayla along with scott wapner. maria bartiromo will be back tomorrow. we had negative housing data this morning and the dow has been down ever since the open. closing just down 35 points. nasdaq down just about 14. and the s&p ending down 6. but still a good july overall. the markets tried to fight back. we have bob pisani to walk us all through what exactly happened in the market today, toward the end, bob, they went down, they went up, couldn't quite get there, could they? >> reporter:

doing well, okay, with the consumer credit, retail sales, the job, and the industrial part doing well. 3mnts are hitting 52-week highs. in spite of the strong dollar. you want to watch the earnings season to see where we're going from here. >> stephanie, i know we want to watch the earnings season. i know we probably will see an upside surprise at some point, even though the expectations are 3.5% profit growth. what about revenue? we're not seeing revenue growth. doesn't that still indicate end market demand? >> i would argue as the economy gradually improves from here into the second half of the year, and it will be held by continued stimulus by the fed, you'll see better corporate profits. they'll improve as the economy improves. both wells fargo and jpmorgan told us. by the way, i was hoping i could buy a dip on the banks today. we didn't get it. you didn't have this great revenue number. but you had very good execution. and within both companies, there were pockets of strength, right? so jpmorgan had good capital numbering and good credit card numb numbers. that means the consumer is

in the s&p, some movers that hit record highs in today's session include united technologies, 3m, and danaher, around the high end of its range. kroger touching a record high, s agreeing to buy harris. and new 52-week highs include cisco. back to you. >> about 50 minutes to go before the closing bell. we'll keep an eye on the markets. bill, it's interesting we've seen the strong dollar emerge as a theme, as well as multiyear lows for the euro. we've seen bond yields behave in this way, correlated to the stronger dollar and the yields, and that will be something to watch tomorrow. >> the three-year note auction today. the yield today was double what it was a month ago. >> right. a month ago. >> unbelievable. a couple of weeks ago on this program, we told you about a new company that's helping individual investors use the same kind off algorhymic tradin. now they'll be here to defend it. >>> and also, another day and another costly delay for obamacare. this time, fines for cigarette smokers are facing a speed bump. and if you think the earlier delay of the employer mandate changed what

go back to 3m, you know what? he did manage to come up with quart that kept the stock up. howard schultz, we spoke to him he came up with a quart that made you think. >> 9% comps. >> beautiful. >> but that's not the rule for corporate america. nobody's talking about 9% comps or 9% rise in revenues at all. >> no. but you think about it. facebook doing well. >> yes. >> very visible companies. mcdonald's did not do well. what i'm saying it's hit or miss. when you miss, it's really tough. home builders, i don't know, home builders are just -- they were growth stocks. now they're value stocks? you can't go that fast. you need a couple of quarters before you go growth to value. >> you were on twitter early, very early, and you gave a list of your favorite specs, speculative plays. >> yes. >> radian. >> still working. one of the things that i find -- >> it's amazing how it works. i get it, nature got it. >> aquan. >> it's an easy way. terrific. the airlines are bifurcated, southwest was not good. us airways lost in the shuffle. fabulous quarter. genworth, they are like the insura

down 62 points i want to point out, at the top of the hour and analysts coming up, basically likes 3mepot and comments coming out of the gil morgan ceo, interest rates go up for mortgages and people don't buy homes, shocking. anyway, there are people for you down 216, 7809. i was mentioning her name, nicole petallides on the floor of the stock exchange. would be looking at? nicole: let's look at qualcomm with the mobile resolution. i don't think there is another semiconductor company, at the homan revolution in smart phones and the like, a lot of concern about going solar and some of that to asia. they catch him out with revenue, earnings that matched expectations that continue to talk about growth in the smart phone market and you're seeing stock reacting nicely, up 3% because of the quarterly numbers. in the meantime a couple games, cream capital and piper jaffray changed, that is worth knowing as well. cheryl: we will see you at the bottom of the hour. dennis: making money with charles dean. under of armor hitting a new high after the second quarter expectations. charles: i did thi

you won't do much better than 3m. really fabulous company. >> small deal.g boughtdy colbur. >> $138 million -- $438 million is the price tag. that is interesting. $35 a share in cash. 33% premium based on the average closing price during the 90-day period. >> steinway as a pianist, steinway still the best brand? >> i don't have one, but i would hope to have one before i leave this earth. beautiful, beautiful machine. >> not the yamaha that i have for my kids. >> right. talk about what else is moving. morgan stanley ups pandora to overweight. the price target at 24. they say, a, their leadership has never -- they have traffic second only to facebook and google. >> isn't that incredible? >> that as we start getting more distribution points in various things other than your house, that that -- their shares will gain. >> i find this shocking. i mean, i felt that they didn't have that proprietary market. i didn't -- i like the management very much. i'm a songsa guy. >> good new york company. >> yeah. terrific. i like classical. >> we should mention shares are up

two industrials and also 3m. it is worth noting that you are seeing some of the dow components.s pretty status quo. ashley: thank you very much. tracy: let's go back to peter barnes. peter: we like to parse the statement. we sell economic activity downgraded slightly. this is the first time that fomc has used the word modest to describe the economy in more than three years. last night, he'd dissented because he felt that the fed must defend its 2%. that language appears to have worked. finally, i do want to mention that you always have to note when the fed goes out of its way to highlight something. you may see it for tapering or waiting on tapering on quantitative easing. when you see that highlighted, we want to pay attention to it. ashley: thanks a lot. cheryl: all right. we have some breaking news. prices rising $1.95. it is a gain of nearly 2% on the day. ashley: the president offers up aatax proposal remix. the fed will continue its bond buying program. the debt ceiling is looming. washington has a lot of fiscal policy issues to get an order. he is joining us now with his

. >> and boeing has been the biggest contributor to the dow this year in terms of the points, and 3m the biggest contributors, too, and it will be, and j&j, and interesting to see that g.e. has not held the weight in the dow. this could be a day for g.e. and one of the reasons why it is so hard to get negative on g.e. and the economy when you have g.e. saying the right things, and whirlpool saying the right things and honeywell saying the right things because it is a broad plan p panopoly of areas. >> and jim, this the largest equity funds here and today, there is a report titled "usa, usa!" because of the money coming back to stock, and i don't know if it is a material trend or not. >> when you look at the railroads, tremendous commerce pushing it burk just as important to not overlook the transports all-tile high, and they signaled that the united states is stronger than the i believe the rest of the world. if you put money in europe, and it is bottoming, maybe it is, and i believe it is. asia pacific is declining and latin america is difficult, and our country is doing better than

now we are going around the country as well, dave and i to the twin cities, 3m and a smaller company in philadelphia. small business. >> individuals. >> we are going to talk to somebody who has sent us an interesting submission and spend some time with him. >> cell in washington we call deductions tax expenditures now and so the biggest tax expenditures are things like mortgage interest deduction for charitable interest of action or a municipal bond deduction. those are probably the big four. which of those is going going to go way? [laughter] or reduced? >> no pun to your reference. >> well i have some but to be serious obviously you can't eliminate all of them. you might moderate them. do you think the pain should be shared among all of those are you likely to go with more than one? >> well, not to cause nervousness in the room but not everything in the code is a tax expenditures though there are items that are not tax expenditures. we both agree to not take the current code and try to amend it with a clean sheet of paper and max has said a clean slate and see what we need to put i

. >> reporter: they don't want the jury to see this 3m d animation. commissioned by the defense.ned in the moments before he shot and killed trayvon martin. zimmerman said the teen pinned him to the ground and punched him repeatedly, and he only fired in self-defense. >> it take pieces of evidence as it exists, and it puts it together in a way that does assist the jury. >> reporter: but prosecutors -- >> this animation and the subsituation -- >> reporter: and even judge nelson questioned the accuracy of the animation. just moments ago, george, the judge ruled against admitting that 3d animation. and the text messages. they're taking fewer notes. they're asking for fewer breaks, which means they've probably already made up their minds. >> matt, thanks very much. >>> let's bring in dan abrams, our chief legal affairs anchor. >> that jury is sequestered. one reason they went so late last night. >> the judge is trying to get as much done as possible because there's a bunch of jurors sitting in a hotel, away from their families, wanting to go home and wanting the trial to end. so, it

look at other names, johnson & johnson, 3m, united technologies, unitedhealth and exxonmobil.ou. ashley: nicole, thank you very much. tracy: okay, so we've been talk about this all day. detroit has taken a stand on its $18 billion debt hole and filed for chapter 9 bankruptcy. this is the largist for a city in u.s. history. jeff flock has been in detroit reporting on this jeff, what is the latest? >> stop the presses, we have breaking news at this hour. a judge in one of the detroit suburbs has stepped into this. it is unclear whether or not she has the authority to do so. but a judge, who was about on monday to hear a lawsuit filed by the pensions, two detroit pensions that were opposing the bankruptcy filing, she has stopped in and said that the governor doesn't have the constitutional right to call for bankruptcy. potentially throwing a monkey wrench into the whole thing. i want to get instant reaction on that from sandy, who is the ceo of the detroit chamber of commerce. you have been somebody that has supported bankruptcy despite the negatives of it because you think that

. >> among the names reporting before the bell, we do have general motors, 3m, biogen, colgate palmolive wood hotel, underarmor. those only a few of the names. we will be joined by -- >> the only thing -- the whole staff, the crew, dunkin'. >> gary kelley will join us from southwest airlines and general motors cfo will be joining us as well. and dow chemical chairman and ceo andrew liveris. yesterday we saw

the twin cities, 3m, a larger company and another smaller company.k to somebody that sent us a very interesting submission. >> in washington, we call them tax expenditures. the biggest expenditures are mortgage interest deductions or charitable interest deductions or municipal bond deductions. those are the big four. which of those are going to go away? [laughter] >> do you have a preference? [laughter] >> i have some, but to be serious, you probably can't eliminate all of them. should the pain be shared on all of those? will it likely go more than one? >> not to cause nervousness in the room, but not everything is a tax expenditure. we both agreed to not take the current code and the clean slate >> in your respective committees, giving you ideas of what they want to see or not see. how was i going? >> not only are dave and by working together, but the ranking republican and i are working together. let's get rid of all tax expenditures, roughly $12 trillion over 10 years. start there, what's that used for? rate reduction? revenue reduction? almost en

we met with 3m, the management, the employees. we met with small bakeries.we're going to philadelphia this next monday. i think we're going over to delaware, i'm not sure. anyway, we will be up -- into new jersey. i apologize to the presiding officer, i think it's new jersey. to philadelphia and new jersey for another session. there will be others, traveling around the country. we want to talk to people, see if they want to say -- what they want to say. i think this is a way to crack some of this partisan gridlock around here, partisan deadlock around here. how? by working together, low key, build from the top up with these sessions, these meetings, these discussions, just keep talking, because we all know that the tax code needs to be reformed. it is way dated. it's out of date. a small example is all the tax-exempt provisions of 501-c-4's and 3's and so forth. they haven't been addressed in 50 years. all the money since citizen united has gone to the tax exempts trying to find a safe home, that is where there is no disclosure of either donors or amounts. t

. >> look at some stocks to watch today in early trade, dow component 3m from equal rate to the positivesm suit cals is released now. it's available if wal green, costco locks around the country. sounds like commercial. credit swus reinstated retailer best buy, grading the stock outperformed calling it as best near term idea that it has in its coverage. best buy will benefit from management changes and infrastructure overall. yesterday's unrest in the ejichgs state. here to gives his take is pj crowley and a spokesman for the state department mitch crowley, a lot talked about this morning, there is apparently spying on the eu and unrest in egypt. let's start there. how does the unrest look to you right now? >> it's a crisis. two years ago the last time we saw that volume if tahir square, they hope for the emergence of mandela, they act in some terms e terms, a newly empowered. they got a morissey political operative for the muslim brotherhood who spent the last two years solidifying their tent. not necessarily making it easier. >> what little i know about egypt, what matters is the army,

we will get news from dupont, travelers, at&t, boeing, caterpillar, 3m amazon and a lot more. >> everybody, small cap stocks have been on a tear lately. they hit an all time high yesterday. index is up 23% today. small picks could make you money right now. joining us is the manager at turner investments. he overseas assets under management. small cap growth fund has seen returns of 22% so far this year. bill that is better definitely than the major averages have done. it's right about in line where the russell 2,000 is for the year. take a look at some of the picks you have. the first is 5 below. i know the pre-picks are not in the top ten holdings. are these companies you are seeing, slowly investing in? >> yeah, this time of the year, the 2000 growth happens, we do see ourselves moving out of the big names we held and getting newer names, getting bigger positions in names we started over the past year or so. i would characterize all three as emerging names, very strong ideas in all three sectors of the portfolio. >> by below, what is it that you like? it's like a dollar stor

new territory for 3m and unit unitedhealth.may think of leveraged buyouts but it's real estate where they dominate with $60 billion under management, $10 million available to invest. not to mention its control of hotel chains like hilton. the man who runs the business, jonathan gray. and he joins us. nice to have you here. >> nice to be here, david. >> talk rates. because that's the key focus broadly speaking for everybody and real estate. the backup in rates in a very short amount of time. what does it mean for your business, your portfolio, the ability to borrow and lend and everything else? >> well, i think everybody when's looking out there starting to get a little nervous about rates going up across asset classes and real estate in particular but think about real estate as a combination of both the yield it pays and potential growth in cash flows and looking historically, commercial real estate performed well when the economy's been growing. and so, when we look out there, we say, look, yes, it's a difficult rate environme

> some of these all-time highs, for instance, a target bog back the highest level at least to 1967. 3mk what's happening with oil because we are watching wti which has jumped to 16-month highs. that's the other side, carl, of the stronger u.s. demand story. >> q&a continues. let's get back to washington, d.c. >> let me change the topic real quick to housing. >>> all right, thanks. welcome to "the halftime show." four hours until the close. green arrows across the board on this big day in the markets. here is what we're following on "the half." google glasses, what does one of the street's best analysts see for the company, the quarter, and the stock? >>> cat or dog? jim chanos goes short so why is one of our traders going long? one big debate is just

all but five dow stocks are up led by 3m. a little bit. reits, housing, and utilities are lagging things. economically sensitive stocks all holding up very well. so you have consumer discretionary, energy, industrials, and financials all leading the mashlt. this is what you want when you want to hope for an economy that's getting better. what's not doing better is just commodities never, ever, ever are going to go up again. everything aluminum, steel, everything is to the downside. again the fertilizer stocks are down 5%. better than yesterday down 20% but you get the point. what else is doing well? cable stocks. comcast, our parent company, excellent numbers overall. just shy of a record high for comcast, cablevision, charter, disney all to the upside. final trading day of the month, and you know what? it's been a great month. i'm talking about a broad rally overall. health care, materials, industrials, financials, and consumer discretionary. if you want a rally, it doesn't get any better than those kinds of numbers. guys, b

and that's got the exxons, it's got the general motors, 3ms. it has every business from ten million in assets and above. so there's a real range. it's got those big, multi-national players, but then it's also got a lot of the people that we're working with collectively who are smaller businesses, the closely-held entities, the flow throughs that have 50, 200, 500 million in revenue, 100, 200, 500 employees. these are, a lot is happening here. there's a lot of different issues here and a lot of the very technical issues, if you will. so those are three business units. the fourth business unit which is now the subject of all of this is tege, tax-exempt and governmental it is a grab bag of different responsibilities. indian tribes, state and local municipal governments. you say why do you need to be auditing municipal government? i was working for mitch daniels until -- i guess from '09 through the middle of '12, and everybody knew i'd been at the service. and indiana came under audit, and somebody said this is because the obama administration doe

the twinc ities, 3m, a larger company and another smaller company. we will talk to somebody that sent us a very interesting submission. >> in washington, we call them tax expenditures. the biggest expenditures are mortgage interest deductions or charitable interest deductions deductions. bond thsoe are the big four. which of those are going to go away? [laughter] >> do you have a preference? [laughter] >> i have some, but to be serious, you probably can't eliminate all of them. should the pain be shared on all of those? will it likely go more than one? not to cause nervousness in the room, but not everything is a tax expenditure. agreed to not take the cleant code and the slate -- >> in your respective committees, giving you ideas of what they want to see or not see. how was i going? >> not only are dave and by working together, but the ranking republican and i are working together. let's get rid of all tax expenditures, roughly $12 trillion over 10 years. start there, what's that used for? rate reduction? revenue reduction? almost entirely rate redu