liz: adam shapiro has been listening in.hey are smiles and rainbows at this point. >> i'm not sure there is a pot of gold at the end of this rainbow. charlie gasparino is reporting that pandit was ousted by the board. you heard mike o'neill saying despite that this was vikram's decision, that there was a process last two years just in case, that was the caveat, just in case vikram was to leave and mr. corbat was at the center of that. that almost one thing, would reinforce what charlie gasparino has on about reporting all day here at fox business. there are a series of questions coming from the analyst who is are on the call what is going to change? one actually said, we're scratching our heads here. if nothing is changing, if nothing is going to change, what just happened with vikram pandit did leaving? the questions are centering on the cost structures at citi. you erred earlier today on fox business mike mayo saying there are problems. citigroup had what we considered, a rigged compensation schemes with artificially low h

let's get to adam shapiro.re seconds away apple trading again. >> they will roughly trade in nine seconds. a lot of people wonder how they will react. charlie brady said margin fell to 40% from 43%. here we go. apple seems to be falling. it is down, 3, almost 4% in after-hours trading. investors don't seem to like this report, liz. david: don't like it at all. in fact it was a miss on the top line and it was the numbers really, the numbers of ipads and particularly iphone sales that bothered investors a lot. our last analyst alex was very clear they were expecting 28 million iphone sales. the number came in at 26.9, clearly below the number people were expecting or hoping for anyway. number of ipads sold, 14 million. again alex was expecting something north of 16 million to be satisfied with the shares worth their value above 600. as you can see it is trading below 600 right now. whether this sticks tomorrow we'll have to wait and see, again trading down from where it closed, liz. liz: annual high for the stock

adam shapiro joins us from the event. am, so far the products apple is announcing smaller, thinner, more powerful. does that sum it up? similar to the iphone 5? that is the conclusion. >> most popular selling mac. 1699 bucks get you into one. it has retina display. that as far as being thinner, it is .75 inch thin. so they're very proud of that. weighs 3 1/2 pounds. 1699 bucks, on sale today. so it is deliverable. you've got the mac mini, a computer, $599. they upgraded that. thunderbolt monitor, building to the obvious announcement about the ipad. we're waiting to find out what the mini is going to sell for what they will call it, the price point but we're also waiting for the unexpected. apple likes to build up to the big event and say, yay, we've forgotten have a big surprise coming at you. the big announcement will happen any minute regarding ipad mini. lori? lori: we do a lot of these things, a lot of apple announcements. they always come during the 1:00 eastern time hour and seems the big announcement usually comes t

adam shapiro takes us to the big announcement. >> this is ipad mini. >> apple senior vice president oforldwide marketing phil schiller made the announcement today in san jose. starting at $329, it is 3% thinner and 53% licer than the third generation ipad. as thin as a pencil and as light as a pad of paper. >> it is great for reading your e-mail and responding to your e- mail and surfing the web. it is great for managing all your photos and sharing them with friends and family. >> reporter: with the success of the kurt mundell fire and other smaller tablets, the president of enderly group, rob enderly, says apple may have felt the pressure. >> 7-inch tablets have been selling very well. i think it caught apple by surprise. a lot of us thought that would be a tweener product. it turned out it is easier to carry, less expensive. >> reporter: apple has sold 100 million ipads since its debut in 2010. the new mini version is 7.9 inches compared to the larger ipad's 9.7-inch display. tim cook says it has truly been an amazing year for apple. >> it has been an incredible year. with all of the

justin and adam shapiro.s risen significantly over the past 30 minutes. where are we in this whole storm? >> well, i don't think we've reached the height of it yet. where robert is at we could see two, 2 1/2 three feet water level rise. high tide is not until later on this evening. you have to go all the way back to 1960 to talk about regards records. battery park, water level rice of 1 feet. i think we'll be 11, 12-foot rise 8:00, to 8:30 time frame in battery park. hopefully robert steps back up the stairs or that water will engulf him. melissa: he definitely needs to step back a little bit. adam, when i came to the studio i count the 648,000 people in the tri-state area currently without power. is that getting worse? that is nothing? >> yesterday's news. we're almost at a million. we're actually at a million. melissa: wow. >> real quick, i will give you numbers and tell you about something, electrifying. robert keep wearing rubber boots. new jersey electric and power 22,000. atlantic city electric, 104,000

adam shapiro has latest.ion, charles payne says they want to regulate the kind of pet you can buy. they are chock-full of regulation. >> california has lot of things they're leading country but leading the count tridoesn't mean its the best thing. they're paying 80 cents for for a gallon of gasoline than rest of the country. they have only 14 refineries throughout the state of the california that produce special blends of gasoline they use in california. it is very hard to pipe in gasoline from other places because of the requirements for environmental regulation. so when two refineries went off-line recently. one came on after they lost electricity. that was one in torrance. there was one a fire about a month ago. that is not on line fully. you see the supply problem. the journal reported this morning california refineries operate at full capacity. 14 refineries have full capacity, you full a few out you have problems. you get into other issues. california has high gasoline prices one because they pay almost

adam shapiro has been all over the story with the very latest. untrust is the bank that was attacked today. we interviewed michael chertoff the former secretary of homeland security on fox today. about why the denial of service attacks are a serious threat. here is what he said. >> the serious side would be if they took the customer facing side off-line a day or two or three, people wouldn't have access to their money, that could precipitate a panic. what we make sure you don't compromise the trust people have? banking system. >> these attacks usually last for a few hours and then the hackers stop the attacks. suntrust declined additional comment other than to confirm some customers are having trouble. tomorrow's target according to the hackers is regions financial. they gave us a statement. we take online security seriously and are taking every measure to protect the company and our customers. back to you. sandra: thawing, adam shapiro. david: well we have the number one figure that could move the markets tomorrow. plus --. sandra: one of these r

we have got peter barnes, adam shapiro, and we have dennis kneale. let's start with peter barnes on the ruling on affirmative action in college admission. what is the latest? >> just arguments in a very important case. university of texas admits about three quarter of the students in a colorblind process. is there any top 10% of their high school class, they're automatically admitted to the university regardless of race. the other quarter are admitted in a separate process including race as one of about a dozen factors. the supreme court has allowed institutions to use race as a factor in admissions but only if the consideration is narrowly targeted, a legal term, to meet a compelling government interest in creating a diverse student body, diversity that can enrich the student body. all good stuff, right? a white students denied admission in 2008 sued the university saying it's process was not tailored narrowly enough that it created reverse discrimination denied her equal protection under the constitution. the university says the process is narrow e

liz: adam shapiro on the story, thank you very much. david: good stuff, adam.possibly coming to a bank near you. >> right. liz: thank you. one key earnings report and big economic data set to hit the tape tomorrow that could move your money. you need to know about it today. we have "tomorrow's trades today" next. david: one of these fast-food giants is getting a logo makeover. it is the first change in about 30 years. who could it be? we'll reveal that straight ahead. liz: let's go "off the desk." out with the old in with the new. for the first time since 1983 wendy's, yes, wendy's updates the logo. it ditches the red and yellow box with

thank you very much, adam shapiro.so yesterday of course it was all over the media, all over fox business that apple came out with the mini ipad yesterday. the tablet wars heated up in the blink of an eye. microsoft set to launch the surface tablet and asus may not be as familiar of a name but in failing windows 8 devices that really caught our eye. i say this is cool. with all these products flooding the market, how will consumers decide. i wanted yoi have wanted you toe network for so long. i am thrilled you're here now in the studio. the first thing you're going to show us is something i find unbelievable. our producer called and said you have got to see this thing. it is called tai chi. >> i would like to show you this one. this is a very powerful notebook. liz: the back becomes a tablet. >> and very beautiful picture. liz: and that has touchscreen window eight capabilities. >> of course. so you can see. liz: as you flip it back. >> windows 8. liz: absolutely fabulous. how much does this retail for? >> 1299. liz: t

adam shapiro. >> so what makes this version of the i-pad different than the last one except size.ccording to apple this is an entirely new design something a tech geek says you have got to pay attention to. >> apple takes great pride in their industrial design so they talk about the preengineered finish. if you crack it open it's all battery on the inside. it's supposed to be a very good camera on the back of it. >> in case you are wondering every app you have on your i- pad or i-phone currently will also work on the mini. >>> more than one and a half million dollars of chips. a man walked into an empty casino area and stole them. fox's elizabeth watts has more. >> photographed by the eye in the sky at the veteran'sian where police said he stole $1 million in chips. it happened wednesday, october 10th at about 6:00 p.m. said coal snuck into a private casino area and pried open a locked chip container. there was no weapon and no confrontation with employees or guests and he got away with a variety of chips. >> anybody that comes back to the casino to try to cash these chips will be

let's go to adam shapiro in the studio.m, we're talking about a readmission tax talking about hospitals. >> yeah, this is a part of obamacare, it starts as of today. centers for medicare and medicaid services as of today going forward infiscal year 2013, about two-thirds of all the hospitals who have patients that rely on medicare for their services are going to get a fine of some sort, and it could be as high as 1% of medicare funds that they receive depending on the number of patients who are readmitted to the hospital for these procedures; heart failure, heart attack and pneumonia. now, there's a 30-day window. if a patient is readmitted within that 30-day period and the rate of readmissions at any particular hospital is greater than the national average -- ashley: right, right. >> constantly fluctuating, then you could see this fine up to 1% this year, 2% next fiscal year, 2014, 3% in 2015. going to save about $290 million according to centers for medicare and medicaid services this year -- ashley: this is like penalizi

adam shapiro standing by in the newsroom breaking the story down every hour. what do we know? ckers claim to be aligned with islamic terrorist groups and this is the statement from regions financial. their site is being attacked. they say, quote, we are experiencing an internet service disruption that is intermittently impacting customer's's ability to access our web site or use our online banking service. we are working quickly to resolve this issue and regret any inconvenience. customers may be experiencing. fox business has been covering this story since it was broken on foxbusiness.com and we have spoken to internet security officials who say this service attack in most cases you have a hacker who takes over thousands of personal computers you might not be aware your personal computers helping launch an attack but in this case they are not doing that. they are using web servers and what is concerning to security officials is a web server allows a much stronger attack and far fewer computers. don't need thousands of computers. they are keeping an eye on this and that is what

adam shapiro looking at the numbers. he hasn't slept, nor have the crews who have been working on this. but i would imagine the numbers are still pretty alarming here. adam: it is horrific when you consider that this is now stretching all the way over to michigan. the high winds knocking out power. here the numbers from the department of energy. connecticut 626,000 without electricity. new jersey, 2.5 million without electricity. new york, 1.9, roughly 2 million without electricity. pennsylvania, 1.2, 1.3 million without electricity. it is a huge number. in all, 18 states, are reporting that they have power outages. that total 8.1 million customers who don't have electricity. liz? liz: well, you know what? it doesn't surprise me that it is new jersey where president obama will go first. he is heading there tomorrow. just announced it at the top of the hour. he will be touring the area. adam, we saw the ariel pictures of -- aerial pictures of atlantic city i would imagine that or the area in queens where 80 homes were des

fox's adam shapiro has details. >> reporter: toyota announcing a massive worldwide recall. it's the biggest callback ever for the japanese automaker, the company recalling about 7.5 million vehicles produced from 2005 through 2010 because of a faulty power window switch. toyota says this switch on the driver's side did not have grease applied evenly during production and it could cause friction and sometimes smoke. >> it's a large number of cars because it's a very simple part which is used in many models across the world. >> reporter: more than 200 problems have been reported in the united states. the recall affects about 2.5 million vehicles in north america. the models include the yaris, corolla, matrix, camry, rav4, highlander, tundra, sequoia, scion x5 and xd. >> we will simply apply top grease to make sure it will continue to work properly. if it's malfunctioning, we will replace the power switch. >> in the first half of 2012 toyota reclaimed its spot as the best selling automaker in the world but sales plummeted in china, the worldest largest auto market recently, be

david: our adam shapiro is in the newsroom with the very latest on power outages which continue to growam. >> that's right. 8.2 million people across the united states at least from the eastern seaboard over to michigan, ohio, who have lost electricity. among the top six states where people have been impacted of course, new jersey. want to show you a list. this is from the department of energy. they have coordinated with utilities. new jersey, 6.2 million people, no power. new york, 2.1 million no power. connecticut, 626000 people no power. ohio, 267,000 people, no power. and massachusetts, 256,000 people, no power. when you consider the size of that storm that hit us and it is still creating havoc, it went all the way as far west as illinois because you could see the pictures of the lake there coming up on lakeshore drive in chicago from the high winds. one thing that we're hearing from the utilities it will take at least a week in a lot of cases to get electricity restored. here in manhattan, that substation that blah up and knocked out power to couple hundred thousand people south of

adam shapiro has the latest from the newsroom. these banks know they are the target yet there's nothing they can do to prevent the cyberattacks. >> there are things they can do to stay ahead. for instance region financial. some are able to get on to the site and others are having problems. strength to the statements. they did anticipate the attacks and were told they would be the target today and they are. here is what regions just issued to fox business in the last 20 minutes. a statement that says we are experiencing an internet service disruption that is intermittently impacting our customers have the ability to access our web site or use our online banking service. we're working to resolve this issue and regret any inconvenience customers may be experiencing. one problem banks to go through such as bank of america and capital one and suntrust and all the banks that have been hit by the cyberattacks is when they stay one step ahead of the bad guys the bad guys only have to be just good enough in order to flood the system which

ashley: adam shapiro thanks so much. tracy: adam is all over that.oming up stocks are selling off but they are up a bit from session lows. we're down 195 on the dow. we're tracking the markets every move this hour. we have fox business exclusive, who is telling his clients to get the heck out of tech even before this week. ashley: new concerns about the health of google ceo larry page after the company's conference call still struggling with that voice. details ahead. first as we do every day at this time we look at oil. oil coming down a buck 60 a barrel. $95.50. we'll be right back. 4g lte is the fastest. so, e service would yochoose, based on this chart ? don't rush into it, i'm not looking for the fastest answer. obviously verizon. okay, i have a different chart. going that way, does that make a difference ? look at rizon. it's so much more than the other os. so what if wjust changed the format altogether ? isn't that the exact same thing ? 's pretty clear. still sticking with verizon. verizon. more 4g lte coverage than all other networkscombine.

adam shapiro of course covering it. new details. adam, what have you got? >> right the target today suntrust and appears it is al kasam carried through with its threat of denial of service attack at suntrust. suntrust still hasn't commented to fox business other than to say they have taken steps to protect the clients or your deposits at suntrust. but they're telling customers who have trouble logging in. this is quote from one tweet to a customer who is had a problem, the site is currently up but you may experience intermittent access. we apologize for the inconvenience. if you look at the track record of how these cyber attacks have played out they usually start a few hours before noon. they pick up momentum around this time. it was that capital one, their site was in full-fledged attack. actually you couldn't get in. it would appear that is now happening to suntrust. the group itself, al-kasam they carry out the attack for eight hours and then pull back. tomorrow's target according to the alleged terrorist group is regions financial. they have told fox b

adam shapiro joins us now with more on this.attacks that took place last week. fox business first out on this story. islamic groups were threatening these kind of cyber attacks against financial institutions in the united states. they would target first capital one. now we have confirmation that they are under a cyber attack. i want to read you the actual quote we have gotten. we can confirm that capital one is expanding online issues due to a denial of attacks. we are working to get all systems working. in the meantime, you should call the number on your card for assistance. we have no reason to believe customers are at risk. we have no reason to believe that customers and account information are at risk. protect thing customer information is a top priority. it may be an attack from this group which claimed to be -- they would first target capital one today. tomorrow they say they have targeted suntrust. then, for thursday, they are targeting regions financial. similar kind of cyber attack against jpmorgan chase. now it appears

adam shapiro joining us now. >> for investors, couple of issues you have to pay attention to. this could be very good for sprint going forwards depending on how long you want to hold sprint stock. an interesting conversation, jonathan actually had an interesting take on what is about to happen here given the five sprint has a data plan which is essentially unlimited. given the cash in sprint will have in the potential for them @o do something strategic with clearwire, they could maintain a limited data is a factor in the future and we think differentiating becomes more valuable every year given consumption is doubling every 12 months. what jonathan is saying is that given three or four years you and i are doubling the amount of data we need on our mobile devices. sprint will maintain that because softbank will help them. melissa: we're having some technical problems with adam shapiro. in the meantime, let's move on. are we on the verge of a cyber war? blaming iran for the recent attacks against u.s. banks. according to the "wall street journal," this comes after defense secret

adam shapiro joins the company now. what's your reaction to a knee jerk, amazing, harsh immediate avalanche of criticism that she took? >> that's what you just said is knee jerk, i think a lot of people just assume if you're african-american you're going to vote democrat if you're gay you'll vote democrat. but although there are republican gay people, should their friends consider for voting romney, watch the sword come down. watch how people go crazy if you express what you believe and counter to-- >> and the group that ask for most tolerance are least tolerant? >> i found it interesting that sandra nuclear, supported dash, so disappointed to see people attacking stacy dash for racing her opinion. disagree with her politically, but racist attacks are unacceptable. >> when you can't support your argument you go with baseline attacks, race, insult. those kinds of things. charles: it's terrible that we can't really keep it real. new at 10, we have a brand new green energy failure from the obama administration, and the com

liz: scrambling for the 4:30 call today, which adam shapiro will be listening in on. you don't scramble when it was planned. >> what do you mean scramble? liz: the company appears to not have been ready for something like this. >> why? >> they would have preannounced they're having this call. >> you can basically set a call anytime. i don't think the call that this thing just happened. liz: so what is? >> this is a long, simmering feud. i think michael corbat wanted him out. now that is opinion. i can tell you that he was fired. i shouldn't say the word fired, "ousted." they allowed him to resign. regulators were informed yesterday as well. tim geithner got the call, the head of the fed, the head of the sec. liz: sheilah baird said regulators were not a part of the decisson. >> let's hope that is the case. sheila baird is a private citizen, but let's hope people like that are not calling the shots on private business. listen, sheila baird did not like him. she did some good things come but also bailed out shore bank. once you get there, i downgrade a lot of er critici

cheryl: adam shapiro tracking the storm.dy, continuity dynamics' president ralph petty. you advise businesses on how to prepare for these storms. what are you telling your clients? >> just keep an eye on things and don't overreact. we have 48 to 72 hours to track the storm and when they make a decision make it with the best information. cheryl: they have to be concerned. one thing you point out is they look at the supply chain and got to be prepared if their business is shutdown and manage their employees. what do you say to that? >> experts have to take over. human resource organization then travel departments do that every day have to know what the factors are and what needs to be done in terms of their own planning for their organization and supply chain, critical suppliers need to step up and be honest about their capabilities. cheryl: and the employee each is as adam was showing on the map. this thing is really heading for a very populist part of the united states. how much disruption do you think we can expect? >> in p

dennis: thank you, adam shapiro. cheryl: c. 00 of pimco is speaking to fox business.treet has lost its way. and dodd-frank will be just a warm-up. dennis: implications for the stock of sirius xm ahead. and as we do every day at this time, we take a look at oil. [ male announcer do you have the legal protection you need? at legalzoom, we've cated a better place to turn for your legal matters. maybe you want to incorporate a business yod like to start. or protect your family with a will or living trust. legalzoom makes it easy withtep-by-step help when completing your pernalized document -- or you can even access an attorney to guide you along. with an "a" rating from the better business bureau legalzoom helps you get personalized and affordae legal protection. in most states, a legal plan attorney is available with every personalized document to answer any questions. get started at legalzoom.com today. and now you're protected. but proven technologies allow natural gas producers to supply affordable, eaner energy, while protecting our environment. across america, these

nicole: adam shapiro thank you very much. ese places have no power, adam, ashley and also charles, if you're joining us, basically we could see out for days. ashley: for days up to 8 to 10 days at very worst scenario. hopefully that is the not case. adam, thank you very much. >>> time to make money with our own charles payne. at this hour he is telling to us supersize the profits with fast-food. now you're talking about my language. >> i think we were separated at birth on this one, right? almost every company would schedule earnings today, we won't do it, except burger king. burger king reported numbers and came in better than expected. what i find interesting about this whole thing, mcdonald's is taking it on the chin. for the record my subscribers are long on the stock because of increased competition. burger king same-store sales were up 1.6%. the street would probably rejoice because they thought it would be a little bit less. mcdonald's during the same period had comparable stores up 3.6%, beating wendy's at 2.%. moral o

we have fox business's adam shapiro who is hard at work on this all day. adam, i want to start with you. i was late coming down here listening tohe cal as well. what jumped out at you? >> honestly what jumped out at me how frl and weak larry page's voice soued. a lot of people will be talking about that. go to see you, teddy, by the way. the issue here is this is company depending if you're pro or con, if you're pro google, this is company despite hits they're taking on motorola, moving out of its realm of advertised based revenue generator at your computer and at your pc and they talked about this a few statements from larry page. incredibly excited about the opportunities ahead. that is a no-brainer. you expect him to say that but great products that are defining the future. he is talking about the nexus 7 and tablet they hope will give real headaches to apple but they also talked about, and this was a figure, you can mess with a run rate but he talked about an $8 million mobile run rate last year -- 8 billion. only included revenue from mobile ads but re

adam shapiro is next. they are paying with your tax dollars but it seems like a whole lot of congressmen and women are putting themselves first. no shocker there but we will tell you what we are talking about when we come back. >> it is 22 after the hour. time now for a segment we like to call what the hill. when we hear the stories you will know why. if congress passing bills to help the average american or just themselves. a "washington post" study raising serious concerns and discussions about recent legislation. it found 73 law americas backing bills that could benefit themselves or their relatives. the practice is legal it's allowed under ethics rules as long as the lawmakers aren't the soul beneficiary. the new york post reporting jp morgan chase bailed out the chairman of the democratic congressional campaign committee and for gave 93,000 dollars he still owed on his house. israel and his wife are divorcing trying to sell the home. republicans now want an investigation. we know about this unemployme

. >> welcome back, i'm adam shapiro. the net and the cheesecake factory reporting after the bell. shares of a social game maker hit an all-time low and are down 75% so far this year. the company announced ahead of the earnings report is going to cut 5% of the workforce and postproduction of some games. and as expect profits to break even on revenue of 256.43 million. investors should be watching for additional details on the cost-cutting plans including more specifics on which games it will discontinue. more details on the planned acquisition of omg pop which didn't pan out forcing a $90 million break down. not growing as fast as it would like and becoming part of facebook's overall revenue. all the big-nam big names reporn less than 30 minutes, don't miss "after the bell" beginning at 4:00 p.m. now we continue "after th "couno the closing bell" with liz claman. liz: check it out, we keep this in the newsroom near and dear to our hearts because a lot of people in this in coal. up 12% from the 52 week low of month ago but how is coal affecting the market? nicole: you don't want it

jeff flock is in illinois but we will kick it off with adam shapiro in the newsroom with sprint, soft bank buying a huge chunk of sprint but maybe this should be called a clear wire deal. adam: when you work next to liz claman, you always hear it saying what does it mean for investor to make money and what does it mean for me as a consumer? sprint owns a 49% stake in clear wire. i spoke to an analyst, over at evercore partners and he was explaining to me look what this means for sprint is they now have the cash to continue building their 4 g lt network to catch up with verizon and at&t. but down the road, say, three pour years, you are looking at a company, sprint, that already has no strings attached unlimited data plan, data consumption among consumers doubling every 12 months and clear wire has the spectrum space that allows sprint to grow as you are going forward. they see upside potential for sprint. today shares went up a bit. last check they were down. but sprint, he's feeling pretty positive about sprint. liz? liz: okay. here we go, there's the clear wire chart. this was just

disappointing fiscal fourth quarter earnings and its conference call is currently underway but we took adam shapiro the call to tell us what is going on. adam, what is the latest? >> the big headline a lot of people are talking about, melissa, the 14 million ipads they sold in t fourth quarter. third quarter they sold 17 million. this was a miss. we heard tim cook say somewhere around 15 million when talking about the ipad mini. this was much lower, far fewer ipads sold than the street expected. it makes you ask what is going on? because ipads account for roughly 25% i think was the figure of revenue at apple. i phones account for over, what 40, 45% of revenue. combined it is 7075% of their income. so the problem here is one, you've to the competition from kindle over at amazon. competition from google's nexus 7, 199 bucks for those two devices at the entry level. you have competition from samsung with their galaxy tablets. we see apple surprisingly on tuesday relaunch an upgraded ipad. we got ipad 4, not the mini but ipad 4 with the retina display only six months after the ipad 3, a little bit ear

. >> i'm adam shapiro with your fox business brief. the new york stock exchange and nasdaq have announced they will be closed for a second day tomorrow as a result of hurricane sandy. both exchanges say they plan to reopen wednesday weather permitting. meanwhile the cme says stocks index futures will reopen tonight before closing tomorrow morning. >>> td ameritrade topped expectations with its fourth quarter results. the firm reported a profit of 26 cents a share on revenue of $647 million. td ameritrade boosted quarterly dividend 50% to nine cents a share. >>> personal spending rose more than expected in september rising 0.8%. economists looking for a gain of 0.6%. income was right in line with expectations an increase of .4%. that's the latest from the fox business, giving you the power to prosper liz: folks, more than 600,000 residents of new york tri-state area, connecticut, new jersey, and new york are experiencing power outages and could be without electricity for up to seven to 10 days. david: david owens, vice president at edis

/2% at the moment..o cf1 o robert gray will interrupt and get us more on this and according to adam shapiro where is the news? ten years of misconduct in connection with wells fargo participation in the f h a direct endorsement lender program. as soon as we get more we will get it to you. let's go back to the markets and your money. what are you reacting to and why everyone is so nervous we seeing a sell-off of 83 points is the volatility index relatively low? let's bring in jim king, our guest today. south texas money-management president and chief economist joining me for the last hour of trading. you folks in south texas don't scare so easily. >> a lot of things people are worried about, china and the middle east and europe, fiscal cliff, these have been highly telegraphed and -- liz: you are telling me the same thing i did at the top of the show. is anybody surprised by this. the imf says we are downgrading our estimates for the entire planet. be smarter than the rest of these government agencies. we knew that was going to happen. are you bullish on stocks? >> the imf is playing catch u

adam shapiro has been following the for us all today. we'll go to adam. be a analyst report. larry page ahead of google will answer questions from analysts right? >> you will hear larry page reiterate the revenue being up what was it, 45% they were talking about but there will be key questions about the revenue picture. they will separate questions about motorola's revenue and misses with motorola and was it wise for google to take on a hardware company. you will have a lot of questions about google's revenue picture on ad advertizing and what is happening but get more clicks but make less money per click going forward. liz: the call is beginning but just the preamble where they put in a bunch of legal mumbo-jumbo. they announce larry page will be on the call. if we anticipate what analysts will ask, it will be how can you not telegraph there were bigger problems than the street was expecting from motorola mobility? they acquired that company as a patent mine. they thought they would mine the patents and get hardware for a phone, is that right, adam. >> t

adam shapiro in newsroom with real-time numbers. adam: right now the numbers are starting to grow. i'm going to ask the control room to bring up the numbers i sent through a few minutes ago. we are getting these from some of the utilities in the area. for instance, you can see jersey central power and light, go ahead and pull that number up. you will see, that they are about 115,000 people are without electricity. as you move through these numbers, long island power authority, 115,000. new jersey central power and light is 82,000. con-ed, roughly 4500, 6200 now and growing. it is a mess out there and will be a lot worse because as the wind speeds pick up, they will knock cables over and knock power out. the mutual assistance network is in place. that's the organization run through the electric, the edison electric institute. they coordinate with different utilities to restore power. they have actually flown in crews from mexico -- mexico, canada and as far west as washington state. thousands of men and women ready to go to work once the storm has passed and restore power. back to y

adam shapiro, i'm holding up my brand-new, i don't know, three weeks old ipad, and now it is obsolete, are you telling me this thing is absolute? >> you can get with the retina display. that is yesterday's news. the big news, the ipad mini at $329, get ready for christmas and hanukkah shopping because it will be a big seller. a principal at creative strategies. what do you think is the biggest selling point about this new device? a lot of analysts don't like $329. why do you say $329 is a good price? >> they will meet the quality of the design. when using the product, designed similarly to the way the ipod touch and the new iphones are with the cutting-edge design. i think the design of the hardware experience will be one. i think it will come down to the applications. many of the input devices are running scaled up smartphone applications, not running tablet applications for the ipad mini kit consisting of the ipad apps and that will set it apart. >> there were a couple of points tim cook made during the announcement that 275,000 applications written for the ipad, talked about the fa

adam shapiro in new york. jeff flock in chicago.t talking with nicole about the other retailers. how about the automaker's. >> reporter: we can all debate about whether it's a recession, but the auto industry is not in recession. at full-blown recovery mode, but i'll tell you, this month interesting numbers because better off if you are doreen, german, or japanese then you are an american this month. take a look at the foreign automakers numbers. big dramatic gains from toyota today, up over 40 percent. vw up 34%. sunday up 15%. your buddy says, we cannot make cars any faster than this. don't look to any more growth. we are making a mess fast as we can. on the u.s. side a lot more flat. afford unchanged. gm, about two points committee appointed a half. chrysler had a nice month. the stocks, gm doing pretty well in terms of the stocks because they actually issued a pretty rosy forecast going forward for the rest of the year in terms of sales. the f150 did not sell much which as you know is the most grandest selling vehicles. sales we

adam shapiro with fox business is live for that announcement in san jose, california. . >> reporter: hey, jenna. it's kind of funny when you think about the world's large company announcing something pretty small, and that's what they're going to do today. the ipad mini, not the official name, but it will be smaller, roughly 7.5 inch screen than the ipad you see now on the market, and it will be cheaper. analysts saying anywhere from $250-$400, but some are going out on a limb saying we might see this thing priced at $199 which would absolutely be a nuclear shot at kindle, at amazon's kindle fire as well as google, the arch nemesis of apple and their nexus 7 tablet. jenna? jenna: adam shapiro live with fox business, we'll wait for the details on all of that, adam. thank you. jon: a real commuter nightmare, how not one, but nine tractor-trailer rigs ended up colliding on a busy interstate and the mess that resulted. oh, boy. >>> plus, a massacre that shocked the nation. so why is the pentagon refusing to call the fort hood shootings an act of terror? oh no, not a migrain

adam shapiro has more live up in the newsroom. dam, as we wait, and we are just less than a minute and a half away from the opening again of the trade resumption for google f. we interrupt you -- if we interrupt you, we interrupt you, but go ahead. adam: you have this quote finally from larry page. we had a strong quarter, revenue was up 45% year on year and swrus 14 years old we -- just 14 years old we cleared our revenue quarter. you take a look at where they are taking hits, motorola, their net income was down 20%, liz. a lot of that motorola but also advertising. they have more people clicking, but what they are making on those clicks as they switch over to mobile delivery, not nearly as much as they used to. that's one of the things we saw people reacting to when they saw the first release of all of this prematurely. liz: $687.30 was the last trade. again, google says that it will resume in exactly 20 seconds. so we -- if we can put up an intraday chart here and wait to see if this happens. again, an inadvertent pre-release of

adam shapiro joins us with a funny look on his face. the latest. -- >> it's still not after hours. let's get back to the story. when you swipe things, not talking about swiping things that don't belong to you, swiping credit cards. here is what happens. tracy: the little thing when i go to the food stored. >> just given everybody. did you see that? the sound effect. so apparently barnes and noble has 7,000 of these and other stores nationwide, but they discovered as of september september 14th that somebody, we'll call them the bad people, maybe one person, may be lots of persons had programmed 63 of these devices to of record, take, transmit to them your credit card number. and so they were able to execute fraudulent purchases after swiping your personal number from the pin pad. so what barnes and noble did upon discovering this, remove all of them, 7,000, from their stores. now we have a map to show you the nine states where this took place, connecticut, california, illinois, pennsylvania, new york, new jersey. you can see that right there. if yo

adam shapiro is in the newsroom with the very latest.d with an actual apology. >> this is a company, apple always prided itself on customer service and always doing what is easiest and simplest for customers. not so much out of line to have the company said, we are doing what we can on behalf of you even though this application really is no good. we will make it better command here is what he said that everyone going, this is really interesting. he talked about why they first did it. we wanted to provide our customers with better maps, including features such as turn by turn directions, voice integration, flyover and vector based maps. in order to do this via to create a new version from the ground up. did not get too far off the ground. people have been complaining. they took google maps of the iphone. iphone thought to my ls six operating system. if you download it onto your ipad, no more youtube, no more googol anything. they are really angry with each other. so their apple iphone at -- apple ipad. and in the letter, what he's saying

melissa: well time for spare change with author, radio talk show goddess monica crowley and adam shapiroour very own adonis. first up, the show must go on. but changed a few things at letterman last night, like no audience. >> now. the perfect storm, david letterman. >> thank you so much. thank you so much, nice to see you, thank you very much for joining us here tonight ladies and gentlemen. we're in middle of hurricane sandy. and we have no studio audience. but by god we have a quite a show for you tonight. melissa: he seemed unfazed. they could have put in a picture of odd yearn we would not have known. cardboard cut out of the bodies, it was awkward. i was watching the monologue, only one laughing of paul shafer, but the show must go on. mantra of entertainment, good for dave, there are people on times square looking for a place to begin side last night. -- to go inside last night. >> the best was in art of television world, the guy who puts things like words, like the guy with my name right now, they had to use cardboard. melissa: why guys? why not a gal. >> a human being. melissa:

adam shapiro is doing looking for us. it will be flooding. is what noaa is most concerned about. at 3:00 p.m. update they talked about the full moon and full moon cycles will create higher storm surge. what they can't say what part of the east coast will face the worst part of that storm surge. right now they are saying there is 90% certainty that the storm is doing, hurricane sandy right now, by the time it hits the united states or tropical storm or cyclone sandy, 90% certainty it will hit the united states monday night. once it hits and rain and rain and rain. according to noaa it will be a two or three day event tore most people, bringing in west virginia up to two feet of snow because it will impact with the other storm systemming coming out of the west. it is a cold front, when the cold front hits, snow in west virginia, snow in pennsylvania, snow in ohio. up to eight inches in pennsylvania and ohio. analysis from noaa, says roughly 10 inches of rain. hurricane irene dumped a lot of water on new jersey, vermont, new hampshire. there is

today we are joined by monica crowley and adam shapiro. will back its prices to remind people of the good old days before president obama. the first 150 drivers were able to get their tank filled for $1.84 per gallon. it was part of americans for obama's and prosperity agenda. you think this is a best way for the organization to ge their point across? i think it's pretty clever. >> they have failed to deliver mortgage help the millions of americans who are upside down. on this one, however, remember that the economy worldwide have gone into the tank. that is one of the reasons that gas prices came down. melissa: absolutely, but it is still very clever. [laughter] >> it is the first presidential debate coming up, and it will be that you can bet your $1.84 that they will be talking about energy a lot. this makes the point that barack obama has done everything possible to raise energy prices. years ago we said electricity rates will skyrocket in terms of slow walking permitting, the keystone pipeline,. melissa: the man hates gasoline. >> it's

we have adam shapiro on the call. he will join us with all the details. >>> our top story tonight the second presidential debate kicks off in just a few hours. this time around it will be town hall-style with actual voters asking the candidates their burning questions. here with a preview is our very own neil cavuto. neil, i noted today both you and lou dobbs are pretty suspicious of the undecided voters out in the audience. how come? >> i don't know. if you had a chance, melissa to be invited to a debate but the condition was you have to be an undecided voter, all right, count me an undecided voter. you know what i mean? i don't want to sound overly jaded but it is a little suspicious. there will be 80 undecided voters sitting in that audience tonight asking questions. i'm not casting aspersions. for all i know they might be genuinely undecided. we know in this election year there are very few are. melissa: i didn't think there were 80 all together who are. >> right. melissa: what do you expect the theme and the teno