adam parker, morgan stanley's chief u.s. equities strategist. adam, great to see you again. thanks for spending time and your patience today. >> talk to you again. see you soon. >> coming up on halftime, three trades that should be on your radar, are coal and steel stocks on the verge of a comeback? we'll answer those questions when we come back. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea. c'mon, michael! get in the game! [ male announcer ] don't have the hops for hoops with your buddies? lost your appetite for romance? and your mood is on its way down. you might not just be getting older. you might have a treatable condition called low testosterone or low t. millions of men, forty-five

joining us is adam parker, chief equity strategist at morgan stanley.oping story out of colorado we've been talking to you about all morning a mass gunman opening fire at a midnight showing of the new batman movie in the denver suburb of aurora. at this point there were reports that 15 people are dead, now there are reports that it's 12. 50 wounded. we'll continue to monitor and bring you the latest, as for now, let's bring you up to speed on some of the day's business headlines. general electric is posting better than expected second quarter earnings, solid u.s. demand for equipment used in energy production offset the effects of a weakening european economy, revenues were just slightly below expectations, 900 million was the effect of the foreign currency. viacom and directv ended the blackout, reaching an agreement to restore viacom networks, 20 million subscribers. >>> and marisa mayer getting $70 million pay package. that's a drop in the bucket. i don't know if you can multiply that by a billion but it's not -- the package includes salary, bonuses,

one of the biggest bears on the street, adam parker of morgan stanley laying out the bull case for stocksnd it centers around the election results. parker writing, the biggest possibility here would be romney winning the presidential election. our guess is that the market multiple would expand if, in fact, more investors start believing romney will win. grasso, do you agree with that? >> yeah, but here's the problem, though, if we start heading into the election, and the market is always the best leading indicator, and things are getting better and the market's getting better people equate their wealth with how they're 401(k) is doing. so does that mean is it counterintuitivety and that means it's better chances for obama to get re-elected. >> and adam parker, it is one of the biggest bears on the street. his bull case is 1500 on the s&p guy his case is 1214 which he says there's a 50% chance of achieving and his bear case is 957. which has a 35% chance of achieving. so you take 85% is either bear or base. >> there is a lot to the premise that if corporations are looking at defying tax po

the guys from morgan stanley, adam parker, and david darst from morgan stanley smith barney, your bignings growth, and you are defensive for this market this year. >> two things going down, one going up, two things going down are interest rates and oil. they have been disappointing and management has been guiding the earnings estimates lower, and we expect that to pertain in the second and third quarter. bill and maria you will use this to buy selected tech stocks. you're talking about an 8% earnings gain in the second quarter and 18% in the third quarter if the numbers hold true. you want to be careful. you want apple, oracle and micro soft. >> apple is up and the nasdaq is down. >> july 24th, that's a tuesday, morgan stanley's folks are looking for 21% gain for the quarter in apple. that low pressure stand out. and the consensus is for 33%. so we're only the light side at a 21% gain if that comes through. >> but this is the key, you're talking about earnings expectations coming down and continuing to come down, how much of that is priced into this market. we're going into next week,

. >>> the man that nailed the s&p call last year out with a bearish forecast and here's what adam parkerthe fast money halftime report." >> we'll take the view and take a view of what we think the right multiple is, multiply them together for a lower outlook. the base case is 10% lower and then we factor the fact we think it's a higher chance of being bad than good, the target's 1167 for year end. >> 1167 year end. economist tweeted the 2013 perform storm sich wags, i wrote on months ago is now understood folding. he predicted stalling growth in the u.s., a slowdown in emerging markets, especially china, and conflict in iran is all going to come together at the same time. so, are they correct? our power play today is jonathan golib back with us for the monthly visit. he's from ubs. you recently cut your s&p year end forecast, 1475, to 1375. >> right. so we're obviously a lot less optimistic in calling for roughly a flat market through the end of the year but do i think the market will fall apart? i don't think so. if you look at corporate profits i think they're going to be fine. the eco

morgan stanley's adam parker explains why the s&p is headed for a 15% drop and how you should preparek? our traders will weigh in on that. top ways to play the comeback in coal. guys, see you in about 15 minutes. >> looking forward to it. dow caterpillar down more than 20% in the second quarter thanks to a lackluster u.s. economy and, of course, worries about china. the stock taken off wells fargo's priority list on friday. can cat bounce back. a senior research analyst has a buy rating. he believes caterpillar will bounce back. i see the price target here is $132. you think there's more than 50%, almost 60% upside from here. >> that's our long-term price target, caterpillar had a terrific three to five-year outlook, just have to navigate through difficult waters. >> talk me through that. what are people missing when they sell it down like this. >> it's a proxy for global growth. with problems in every region of the world, you become suspect what kind of numbers caterpillar can put up. in this environment things will begin to flatten out a bit. the long-term is terrific. it hasn't cha

bottom of the fifth, adam jones and that puts the orioles in the lead. parker5, o's. tied at 9-9, not anymore. six runs in the ninth. officially, it is the reds and the spurs tomorrow. sounds like an awful matchup of baseball against basketball. not the case at all of english premier league teams. tottenham spurs put on a light workout in front of a number of soccer enthusiasts. they faced liverpool, the reds. friendly remains the official term for the game, but do not confuse that with a bad show. both teams want to leave a lasting impression with fans in baltimore of the premier li continues its tour of the u.s. >> we have been seeing is since we landed in l.a. is good to see. hopefully tomorrow we turned out to have a great crowd and we can represent the english premier league at the right level. >> it is not tot-ten-ham, but tott-en-hum. >> the extravagant ceremony at the london games. i did not understand much of it, but i loved this bit with queen elizabeth and daniel greg, a k a james bond, and later jumping out of a chopper. the athletes symbolic of the

adam jones, three run shot off jared a parker. 6-5, baltimore just like that.d didn't last long. two outs, bases loaded, seth smith brings everybody home. bases clearing double, 8-6 and he finishes with five rbis on the night. ryan cook came in with two outs in the eighth. gave up back-to-back singles to tie it at 8. then chris davis puts the orioles back in front again. 9-8 helping to the ninth. the a's refused to lose. never quit. daric norris, tied at 9. weeks singles a's up for 6 runs in the ninth, 14-9. two out, bottom of the ninth. two on for nick nick markakis addition. josh reddick at the wall. holds on, spiderman from a few days ago and it sticks in his glove. a's win 14-9. reddick has a back contusion and he's day-to-day. >>> the 49ers opened training camp with 35 year old receiver randy moss on the field. now 35 may not seem old for the rest of us, but months is 8 years older than any other receiver on the niner roster. moss said being around this youthful group has put some pep into his step. he retired at the end of the 2010 season. a had a rough y

the a's in baltimore, jared parker had a four run lead before taking the mound but the orioles would fight back. adam gets a home run in the left to give baltimore a 6/5 lead. pinch hitting quick bases loaded, and a three run double with the a's back on top, they lead 8/6 right now in the eighth inning. boxing now, robert pereira will take on the undefeated player tomorrow night in san jose but they nearly came to blows this afternoon. >> ouch. they had to be separated during the weigh in. he has only lost once in 31 professional fights. most little girls don't dream dry grazing over 300 m.p.h. but for courtney she was wanted to be a part of the family business. >> i am strapped to a car, it is pretty much like being strapped to a rocket, and 8000 horsepower car and when it leaves the starting line it leaves at 4 g's. >> she is part of the first family of funny car racing. the 20 three-year-old is the youngest daughter of the legend john force. >> this was the sport that my dad always did, obviously. to me it was something i knew that i wanted to do. i wanted to be like him. there was no point where

the travel channel, adam richman is here to talk sandwiches, we have music from rick ross, and we'll be right back with jessica biel, so stick around. [ cheers and applause ]. mr. parker! sir... excuse me, excuse me... can i get you to sign off on the johnson case... ♪ we built this city! ♪ we built this city [ cellphone rings ] ♪ on rock & roll! falafel. yeah, yeah, i love you too. ♪ don't you remember! [ orbit trumpet plays ] don't let food hang around. clean it up with orbit! [ ding! ] fabulous! for a good clean feeling... after any meal. eat. drink. chew orbit. dididid you get the file? . after any meal. no tina? no still waiting in pittsburgh. thank you pittsburgh. terry? noo are you sure? yes. i got it. way to go jim! what is going on in there? beats me.here's that file. got it. righteous. share files instantly, only on the galaxy s3. available at sprint. it's all the salad andfor $25. breadsticks you want. 2 appetizers made for sharing. then 2 entrÉes from 6 of our favorites. like new smoked mozzarella chicken. 3 courses, 2 people, just $25. at olive garden. anything you think you know about your life, it's not real. i thought you loved me. ♪ then who the hell

legends to past american idols...parker says: "the names that keep coming up are aretha franklin who obv would be great but don't know if she's the demo idol wants, adamews for the judges panel at least season 12 hopefuls can continue to pick their audition songs and - maybe now throw a little mariah carey vocal run into the routine. then we'll just have to wait until january 2013 to see how she's going to react to all of it! in new york, ashley dvorkin, fox news. 3 "american idol" ....expanding its search for ta. talent. the show's sending a "small town audition bus".. out to the heartland. so you don't have to be in the big city to get your big chance. "idol" now says they don't even need to hear from áyou.á instead... you go online... and email the show a clip of you... singing your heart out. if you're interested... you can find a link on our website... just go to fox baltimore dot com slash morning. still ahead... sofia vergara is coming to fox... but not in the way you'd expect. expect.the show... she'll soon be joining.and the áinterestingá character... she'll be playing. playing.you're watching fox 45 morning news.. all local.. all morning. ((

parker says: "we're hearing all these huge names, miley cyrus, aretha franklin is now in the mix, although i don't knoo if that's the demo they are going for." those are in additton to adamping thh emphasis on star power. now rumors are circulating that veteran judge randy jackson ay be switching parrer says: "'us weekly' has reported that randy jaccson may e i don't know if yyu but moved to a different role, sort of the jimmy iivine role, behind thh scenes, as opposed tt being a judge." the ass auditions are alreaay underwwy for season 12. the show's producers are expected to make a decision in the next several weeks... in hollywood, sabrina ssbbagh, fox news. coming up on good day baltimore... a ttrrifying fall... and an incrediile save. save.((:56 i'm praying, if she po fall or jump. let me be there to catch her. 1:00)) be in the right place... at o the right time.you're watching fox 45 morning news.. all local.. all morning. ((break 8) you know what's exciting? graduation. when i look up into my students faces, i see pride. you know, i have done something worthwhile. when i earned my doctorate through university of phoenix, that pride, that was on my face. i am jocel