the true greatness of 3m and that's innovation. innovation is the heartbeat of 3m.very day and allows us to create greater value for our customers. innovation generates new growth and a key to our long-term track record. i'm sorry, long track record of generating premium returns throughout the business, end quote. how can innovation really be measured, you might ask. well, 3m knows how to do that, too. quote, 1/3 of our revenue in 2013 came from products created within the last five yearsment and we're targeting 37% by 2017. they're doing it with 45 innovation centers around the world. it's not a hallow saying, some wholistic mantra, it's put food on the table of shareholders real deal. go to 3m's website, they're all there. have some fun with that incredibly interactive periodic table of offerings. it's an amazing treat. these guys make everything from 2-in-1 post-it notes to environmentally friendly fasteners and mobile devices. unlike so many conglomerates, the fact they're in so many different industries is a blessing not a curse. just look at how they developed

g.m., 3m, cat and verizon.ou, you might want to make sure you're safe and in control. ford technicians are ready to find the right tires for your vehicle. get up to $120 in mail-in rebates on four select tires when you use the ford service credit card at the big tire event. see what the ford experts think about your tires. at your ford dealer. e financial noise financial noise financial noise financial noise >>> welcome back to "squawk box", everybody. general motors quarterly reports hitting the wires. phil, what's it look like? >> it's a kitchen sink quarter for general motors. we'll talk about all the charges included. it beat profits 6 cents a share. they were expecting g.m. to earn 4 cent a share. revenue coming in $37.4 billion. the street was expecting g.m. to bring in $38.4 billion in sales. keep in mind, there is a $1.3 billion charge relate to the recall switches. that's the reason you are seeing $100 million in profit. the headline, g.m. beating the street on 6 cents a share, two cents better than th

the increase in the buyback is the size of 3m. it is an incredible amount of numbers.nder mentally, it is a different kind of company than it has been in the past. >> we are getting some sound of what tim cook said on the call. let's take a listen. stock price does not reflect the value of the company. >> would you agree? >> i do. one statistic that was mentioned that i feel wholeheartedly about is the strength of the apple ecosystem. there is maybe half one billion ios devices. that anre seeingi is asset that a huge people don't talk about. when you think about apple moving into the home and wearables, that means potentially more revenue. >> but other companies are doing that already. this is where you did that on apple as a pattern company. generateeing them radix. >> what he sees the biggest competitive -- generating products. see?at do you android is huge. there are other companies that are moving in quickly to the home and smart tvs. what is the biggest competition for apple that lies ahead? >> i think it is still google and their partners with android. at the cor

they are all out of the numbers today, caterpillar, 3m, amazon, verizon, dunkin' donuts thomas shall just start with cat. qwest earnings beat analyst estimates. caterpillar also boosted its four-year forecast. indication of the global economy, especially in the emerging markets. qwest the stock market does well. the cat led the dow in trading. then there was ups. carol massar lays out the numbers for us. is focusingverybody on, the company laid out is forecast for the year. in january, they're saying it should be at the low end of the forecast here there is disappointment, coming on the heels of fedex. we saw that last month. mixed results from the company, instruct -- strong in terms of international. daily volume up about eight percent. scott davis specifically sang him a call it was due to unusually harsh weather. about half of their service days were disrupted because of what is going on with the weather. i talked to ups during the quarter. those folks are staying at their , definitely a big factor. job up about 20%. is not as much of a problem for southwest airlines. posted reco

you sell 3m what's it going to, 34. 3m reported 108 to 104 and then the company just stabilized and nextit's 125. two years ago this quarter. it can happen again. >> aetna is doing okay. 198, beats 155. they raised their forecast. they were a handful of raises today. under armor, aetna among them. >> aetna was interesting. united health went the other way. aetna does more corporate. the biggest gainer happens to be on "mad money." land research. double digit order growth. some stocks trading on order growth, some trading on earnings per share, some stocks trading on revenues. the order growth at lamb, thlam semiconductor equipment company is incredible fast. go back to intel. circle back to intel. i know it's boring. >> not necessarily. >> qualcomm by the way, the wells note, almost got in the way of the beat which was by nine cents. >> they'll solve that. foreign corrupt practices. seemans and alcoa and halliburton showed you can get those behind you. qualcomm was not an issue of demand. it was an issue of transition. the analysts stick by qualcomm. they would stick by qualcomm if qualc

. >> you've also got a trade on 3m?up quite a bit since the lowest it got in january of this year. i want to protect myself with some put options. if you are long, or if you want to play, i want to buy a put spread into july. july one buy the dollar 25 put spread the cost me around two dollars and it has a nice risk reward. justost of it is literally ofr one percent of the price those stocks. it provides the protection for about 10%. >> and your breakeven is about $133? >> that's correct. came out and despite the fact they missed estimates, they said they will boost the dividend and buyback more stock and they confirmed the earnings forecast for it that might be a bullish indicator. >> that's true but if you look at 3m, the stock has benefited from the rotation out of high a cruel valuation stock. its switch to more defensive stocks. as pushed the stock higher from the previous report. we are saying that the stock could have some legs but it is a defensive stock and the valuation is high. >> we will live a right there,

now all of the cheaper value plays, the ge's, 3m's etc., suddenly they are more in fashion.hussein does this chart. if there's something that really stands out, it is the highest of the high flyers being repriced. we no longer just have that rising tide that lifts all the boats. you have to find stocks to buy. that is where value guys come into play. we took the value index within and we looked at withthose with p/e ratios under 15 times. earnings growth with at least 15%. they're cheap and growing. i will show you 8 examples. there were 23 out of those 334 we found. these are eight of the 23 that made our criteria. i posted all 23 on twitter. they are growing faster than the market, trading cheaper than the market. that is value that is back in vogue. >> thank you. i want to take a look at one mover in today's session worth highlighting. visa. increaseported a 26% in second-quarter profit, but revenue missed estimates and the ceo said the stronger dollar will continue to weigh on earnings growth growing forward. we will have more on the markets in 30 minutes. >> welcome to

also with thursday, caterpillar, gm, 3m, a whole slew of big nails, and ford on friday. confuser focused end of the week. it will be key to see whether there's any comments about a tangible effect in the future about the ignition switch recall and what's happening with sales overall. brian, a big week for earnings overall. >> thank you very much. dom, on thursday a huge week. i think i'm trying to corral this herd on thursday. won ner picked a good day to be off. now i know right. if it appears it would be the biggest pharmaceutical deal ever, but it's a huge if. pfizer may make a bid for astrazeneca. >> meg has the latest. >> thanks, brian. it could be the biggest pharma deal of all time. pfizer for astrazeneca at $101 bill chron. reports over the weekend say pfizer may have made the approach a few months ago, but talks fillsled. despite the high price tag, analysts say the deal might have make sense, pfizer that is cash, and may want to access the pipeline of drugs. the question is should pfizer spend this much and are there better targets out there? >> meg, you're new

. >> not just p & g, philip morris, 3m, you could go down a laundry list of companies that are beingby fx. >> absolutely correct. i have been in this business now for 30 years and this last quarter has been one of the most volatile, impactful, more surprises than any quarters i have seen whether you're looking at argentina, brazil, venezuela, poland, china, russia, you could keep going. lots of companies have to deal with this. they do business in all these countries. proctor and gamble certainly does. how do i manage that, how do i understand it, are they good or not good at it. then you got to look from an investor point of view, what do i need to do. that's really what this ends up being about. >> what's the cause of this? is it central bank driven that has made apparently figuring out where currencies are going so confusing? what's the root cause here? >> well, there's lots of them. obviously russia is more of a political and almost military issue. china is much more of an economic political as well as central bank issue. then you have venezuela. yeah, that's very much, they were

you talk 3m, other names, even honeywell which maybe didn't have as strong a quarter as some analysts wanted them to have. at least made it to the upside now. also like you said, technology, yes, it's being weighed down, but here is a bright spot, and it's the semiconductors, specifically certain areas of the semiconductor market like in flash memory and whatnot. sandisk certainly higher on its earnings number, helping put a bid to other companies like taiwan semiconductor. you talk about other names in that space. that's the reason why you're seeing that move there. but overall, traders are telling me at least down here, you're getting the sense there isn't that much conviction to go out and buy the market. remember, there are still geopolitical concerns. so melissa, brian, very much of a day of at least quiet trading for now. we'll see what happens into the close. back to you. >> thanks so much, dom chu. >>> we want to talk about the bond market. rick santelli is at the cme with more on that. rick. >> reporter: well, it was interesting, wasn't it? now let's put a couple of things in

the industrial, the way they're trading from honey well, 3m, united technology, all of the big-cape nameto stephen's point, a lot of the mo-mo, a lot with high p/es, were names getting hit to the downside -- >> you've been on the old-tech bandwagon. is ibm fine? >> i like a lot. [ overlapping speakers ] >> there's a considerable debate on the street whether ibm is good or not. >> right. and if we want to have this right now -- let's throw down the gloves right now. >> listen, big boy -- you stay right in the middle. >> okay. >> here's why i like ibm. it bounced off the 50 and 200-day moving average today and last night. when you look at what their report was all about, where did they get hurt the most, judge? hardware. where are they trying to get out of and trying to go to? cloud. big data. storage. they're killing it over there. getting over a billion a quarter right now -- >> they're killing it right there, the stock's down 3.5%. >> certainly it is! i tell you what -- >> nzn, that's cloud, that's big data, and they're eating their lunch. they're not the most rational pricer, either, a

>> the real standout is industrial companies -- manufacturers like ge, wroteillar, 3m, forecast earningsrowth for this quarter especially. obviously, people are expecting a big rebound in capital spending. and companyestors executives did not take the economic rebound seriously over the last few years and were very cautious with their cash. now that you look forward, estimates of about 2.7% gdp growth, three percent next year. the speculation and expectations are that companies will start taking this account -- start taking this economy seriously and make the investments they need to. >> i'm looking at caterpillar here. 1200 billion dollars of revenue from asia last year and that is where emerging markets are getting hammered. we also have industrial metals have really been laggard as well. curious as to why now these industrial stocks would be a good bet. >> asia is always a question mark for these companies. europe was in a recession for 2 years. we are looking at this year for europe to break out. china is always a multiple celebrities and sort of arrest any downtrend. >> do we think

apetek a fifth of its seas, same thing for caterpillar as well 3m a third of its sales from asia.s sales from china. caterpillar's group sales are into broader regions. still, this goes to show you how much the international story is a part of caterpillar 40% of its sales from north america, canada, the united states. everything else comes from places like latin america, europe, asia pacific. for a lot of these industrial companies, a billing part of the story, why they leveraged to global growth footballs is they get so much of their business from outside the u.s., being over to you. >> thank you very much. we got questions of what's been working. let's talk logistics. we have stocks in logistics, labels and supercomputers. a five star fund manager, including under the radar names. mark heneman is the executive vice president and has nearly $4 billion in asset manage:. good morning to you. >> good morning. >> why don't we start talking about logistics. you like ch robinson, why is that? >> it's pretty attractive. it's underperformed in the last years as our core business has gott

, i would like to invite my chinese friend -- how you look at the international manipulation of the 3mhe -- current seat. you think this is one of the major hurdles that prevents the u.s. from adopting a free trade and politicians tend to have protectionism in times of economic crisis. is that true. [speaking mandarin] >> [speaking mandarin] >> let me do a brief translation. some of the listeners -- she says that there is a limited margin for international legalization of renminbi according to research in this area. go ahead. >> [speaking mandarin] [speaking mandarin] >> wait a minute. my memory is poor. [laughter] sorry. peter, if you could help. >> [speaking mandarin] [laughter] >> maybe i could. she says china needs to regionalize first, the renminbi, and must turn china from the biggest export state into one of the biggest import states. >> renminbi [laughter] -->> [speaking mandarin] >> we should lay more emphasis on domestic consumption as opposed to turning to the pollution of the environment. i think enough has been said about the internet is --internationalization of renminbi.

versus a company like 3m. what a think of beauty. give the money back. shrinking stock.at is winning versus losing. when you say these are done, are you saying that is an amazon story? >> priceline is 19 times earnings. a lot of the companies that are going down are being lumped together. twitter, they have to start showing something different about profits. they talk about listen, we are about p profits, which turns into dividends and they have to get that mantra. they can't, it is not in their dna. they are not set up to be part of that dna. they were all using the amazon model. it is like their rates were #.5, very high. now they are up to 18, 19. above 20. fireeye. i don't want to mention how high. i have been trying to book the chief officer there. there is one guy in charge there, right? >> it has to be. it is the strongest division i have seen. that is who i want to talk to. that stock is still winning. cancel it. pull it back. cancel it. walk away if you believe walk away. can we get back to m and a for a second? >> it does drive you batty. you have fire coming o

on thursday, we'll get c.a.t., gm, 3m, microsoft, visa and amazon.nd we'll close out the week with ford results on friday. i mean, this is -- talk about the calm before the storm. not a lot to work with today, but we all know how crazy we're going to be in about 48 hours. >> i can't tell which one i'm most excited for. if you have to pick up themes, what to look for out of these companies, guidance for sure, because this quarter was heavily impacted by the weather, especially in some of those consumer names like mcdonald's. tomorrow, china is a big factor because we know the chinese economy has slowed down a bit. we'll see how that impacts corporate america. and any general comments about the weather and the consumer, still in a sub 3% gdp environment. what's that going to do for revenue growth? >> and the bifurcation, where price doesn't matter as much because everybody's believing in growth as we get to the end of the week. as we hear from a facebook, that may embolden those who are believers or perhaps start to impact yet again what we've seen goi