of alcoa. we will see if it finally gets its day in the sun. >> or day in the smelter. >> john, brian, thanks to both. have a good weekend. >> thank you. >>> okay. 157 years old, that is the age of the next company, not the ceo, the company he runs. it is the country's largest handgun manufacturer. its shares have quadrupled since october, we have the ceo of smith and wesson with us exclusively after this break. >>> the country's largest handgun manufacturer is smith & wesson. they reported first quarter revenue of $102 million, which is 30% higher than last year. joining us is the president and ceo of smith & wesson, michael golden. we appreciate you taking the time. everyone has been watching gun-related names surge. this has been a big point of discussion in political circles as well. i guess the bottom line is people are buying more guns since this election, right? >> well, certainly the demand for firearms has changed significantly changed with the election. i think an important point is i

jumps, alcoa zooms, and big ben says it's over. your early morning sports headlines straight ahead. >>> plus, it's one thing if lindsay lohan wants to party her life away but her choice for a wingman. >>> cliff lee does it again and a rumble in the bronx. you're watching "early today." >>> good morning. and welcome back to "early today." i'm christina brown. and here are some of your top headlights this morning. vice president joe biden arrived to a visit in iraq. insurgents shot several mortars into the heavily fortified green zone, killing two people. biden was safe in an undisclosed location. >>> admiral mike mullen said the war in afghanistan is procedural going to require additional troops and time. at a hearing on his nomination to serve a second term as top military officer, he said more would be need indeed part because, quote, we very badly underresource afghanistan for the better part of four or five years. >>> a new report shows a nasty feud between the fbi and the bureau of alcohol, tobacco, firearms and explosives. the

>> jp morgan financials leading what it down and alcoa also weaker. we are getting interesting gyrations here. >> i think water is seeking its level. my theory is all the consumer demand and early christmas may not be coming yet. look at the real estate and look at your mortgage notes. concerning. >> this is a long time coming. markets are up 60% from the lows in march. what do you think is behind this optimism? just that which are not falling off a cliff? >> i think we are not falling off a cliff, but are we ahead of the curve? when is the market going to right itself? all the t.a.r.p. money put into stimulate the economy was great as bolstering the stock market, but how long ago were we at 5,000 or 6,000? >> is the market misreading the economy? could the stock market have gotten it that wrong? >> sure. i think this is not a bad economy. nobody really knows what the economy is going to do in the short term or medium term. we have nobel prize winners telling us it's going to be deflation and others inflation. who knows? the important thing is about c

my shares of alcoa and trinity by far have been the hardest hit out of my whole portfolio. without much money to invest, the commissions make it hard trading it in and out of stocks. given the recent news and pullback particularly with al a alcoa's earnings being less than two weeks away should i cut the losses and get the cash or should i -- >> you know, i'm not really worried about alcoa down here. i think its down side is a dollar from 13 to 12 on a bad quarter, up side is two. i like that risk-reward. trinity, we talked about that the other day. we've not seen the capital equipment spending this cycle yet that you would get ar from a union pacific or csx. trinity i'm more worried about as a retreat to 14 than i am thinking it's going back to 22. bad risk reward there. my game plan for next week, we've got to stay defensive, we've got to watch for the key jobs claims. jobs, jobs, jobs, jobs. and hey, listen, tax credit for homes, we've got to keep it. abbott deal. but remember, stay focused on jobs and stay focused on "mad money." >> announcer: coming up, could thinking

, alcoa seems undervalued to me versus the other mineral companies. it hasn't been particularly well run but i think its time has come and i'm not going to be against it. and as an early first-time investor, and i really thank you for those kind words, you can could do a lot worse than alcoa. i will blast that stock up until 20 bucks. it reminds me of international paper in the low teens pap that one worked. i think you're okay there. andy in new york. andy. >> caller: boo-yah, from the cessna capital in new york with a tech valley boo-yah for you. >> you're completely right. i was up there recently and i see the jobs being created and i applaud your area. what's up? >> caller: jim, there is unusual heavy call volume on tlabs, tlab. 50 million shares traded in the last two days, upgrade today. what do you think? is this thing a buy? can we go to two bucks with this or not? >> remember, we happen to have had the excellent ceo, robert pullen on. the stock was probably around 5, 6 when we first recommended it. i will tell you unequivocally, this company

that means alcoa is already on investors' radar. we've got all you need to know about the stock because you clicked. joining us now with his analysis, david silver, analyst with wall street strategies. david, alcoa earnings are coming up. sharp design yesterday. down 2% today. buying opportunity ahead of the earnings report? >> i don't think it is, not yet. the stock made a great move over the past six months. basically since the lows in march. aluminum prices have gone through the roofr. the end markets are looking better than hey had six months ago. i don't think we've come far enough fundamentally to justify the movement in the price of the stock. >> you had me going there. everything you said was good until the very end. what more do you want? >> fundamentally, inventories are high. not just throughout the world. prices are, you know, it's tough to be in an environment with rising prices, rising inventory levels and production that's relatively flat. china is still increasing their production. they're putting more smelters onlin

alcoa, october 7th, earnings comes out. be careful with alcoa. when you talk about commodities you talk about oversupply, aluminum, that probably is the one commodity right now where the excess supply is so tremendous, that's a name you want to avoid. >> i'm very interesting like ian gold. it's such a crowded space. so much retail interest in it now and that 10,000 level i would think is psychologically very important so to see people break -- to see that it broke that $1,000 level -- >> are you worried about more downside because of the retail investor's going to flee this trade? >> absolutely. >> are. >> it's popular. >> yeah. >> and so the door's small getting out. >> absolutely. it's always harder to get out than get in. >> joe talks ball oil and talked to us on the way down here. look at move. everything these guys are saying. i'd be scared to death on gold here. gold has lagged this move down and will trade more violently when it starts to catch up. >> okay, let's move on. >>> time now for street fight. talk more about china in fact for the

. seconded by alcoa. those stocks have low share prices, the price-weighted index so they don't have much wallop. chevron and exxon strong in the dow, the s&p, names like peabody, a coal mining company, some consider it a materials play, some consider it an energy stock. it is a coal company, folks. the truth is very strong here today. we also saw some of the drillers strong, transocean very, very strong. the non-alcoa metals and non-gold stocks, steel, allegheny, one of the best performers in material, titanium, tie, very strong on this session. industrials away from ge included masco, upgrades on that one as well as textron. we are still really having a lot of sledding to do, if you will, before we get to the weekend. let's give it to scott whopper in at the nasdaq. >> oh, to maria. >> yes. i wanted to get your take on this. some of the data you have been looking at as well. tomorrow marks six months from the march 9th low. financials up 128% since the lows, industrial is next winner, up 65%. >> wow. ge

the best performers, alcoa, chevron and prokter & gambel. chevron, exxon, very, very powerful in the market. pivody, transocean. material names, pick your gold stock. a good price jump there. off of earlier highs, steel stocks like allegheny, titanium, alcoa and industrials, names outside of the ge realm will include masco, they make building supplies, textron. a lot of this is linked to the dow. let's get to scott at the nasdaq. >> nasdaq is ahead by .5%. nasdaq in the late day has been range bound for the last several hours or so. most of these widely held big cap technology stocks are missed. dell is positive, google negative, yahoo! negative. hardware after morgan stanley uped the enterprise hardware space. they like altera, xilinx. pmc sierra. altera is up 3.5%. they raised apple's price target. some of the larng cap technology shares have pulled back, not apple. up by better than 1%. apple is holding a big conference tomorrow. chip stocks helping to keep the nasdaq in positive territory. the semi-conductor index is positive, up 1.5%. s

this is the 7th street bridge, near alcoa, one of the businesses who was told to close down, close upto avoid confrontation with the protes r protesto protestors. in the meantime, up next, new defiance from iran's president over revelations his country is hiding a secret nuclear facility. we're going to have a live report. >>> coming up, the swearing in of the man to replace the seat of ted kennedy. i'm walgreens ceo and i'm also a pharmacist. getting an early flu shot is the best thing you can do... to protect you and your loved ones from the flu. it's also one of the easiest things you can do... because walgreens is now offering seasonal flu shots... every day of the week with convenient hours guaranteed. so you can just stop in. our 16,000 dedicated pharmacists... and take care clinic nurse practitioners... are waiting to help you beat the flu... in neighborhoods nationwide. at walgreens we want you to know, your hair mixes with pollen and dust in the air. i get congested. my eyes itch. i have to banish you to the garden. but now with zyrtec-d®, i have the proven allergy relief of

alcoa down better than 1%. exxon mobil was also a drag today. the ring is ringing behind me and then you'll see maria bartiromo. >> it is 4:00 on wall street. do you know where your money is? hi, everybody, welcome back to the "closing bell." i'm maria bartiromo. on the floor of the new york stock exchange. stocks pulling back today as the dollar gained strength and concerns over the sustainability of the market's six-month rally rises. nasdaq finished in the plaque. it remains the best performer in 2009. that stronger dollar also took a bite out of commodities. oil prices below $70 a barrel. gold remained above $1,000. the precious metals falling for the third day in a row, dipping below $1,000 an ounce for the first time in a week at the close. take a look at how we finished the day. the dow jones industrial average on the down side by 41 points. financials mostly the issue there, as well as a handful of oil. price of oil lower. nasdaq higher by about five points. and the s&p 500 tonight gave up 3.5 points. mary? >> maria, mixed monday for the

alcoa climbing 3%. another nice run on alcoa. yesterday we had a nice raise as well. can we -- >> i think we're getting most of our rally from the dollar weakness. the dxy at a one-year low. one of the things he has said because you posted the exxon chart there, oil company integrateds are doing better than the underlying commodity itself. there's a couple other pieces of news. . anadarko has a new discovery in sierra leonee. chevron also to find oil in south america. repsol. the upstream play for some of these guys is impress pf. >> downstream play works as well. walter industries. bring if up today. i keep saying walter industries. it's not walter industries anymore. walter energy. old-timers say walter industries. >> old habits are hard to break. >> natural gas continues to rally. if you also look at copper, copper's about to have a 3 handle back on it. the argument's being made if you look at oil and the consumer what is the relationship there? the products, distillates, reformulate gasoline, both look very strong today. so you kind of dismiss the argument. the en

alcoa rose 3.5%. crude, which had been lingering around the $68 mark, shot up 3% tuesday, closing at $71 a barrel. that pumped shares of chevron and exxon mobil 2% higher. analysts upgrade energized ge, the parent company of this network, during tuesday's trading. ge gained 4.5%. apple sent shares up 2.6%. finally, some cash-strapped california couples are getting a helping hand from a 99 cents store making the most of today's 9-9-09 date. nine couples will pay just 99 cents to say i do at the discount store. then afterwards the newlywedding will be taken to an undisclosed romantic spot with $99.99 in hand. congratulations. >>> well, another open upset. big papi hits a record breaker. and who's on top in college football? plus, who says nick swisher can't hit home runs at yankees stadium? your early morning sports headlines are just ahead. >>> we have some active weather around the country. rain in three different locations. your regial forecasts coming up. you're wa today.". >>> good morning to you.

all the people in the downtown buildings here, big companies like alcoa and melon bank were told not to come to work today. mike taibbi has been out in it all day. mike, good evening. >> reporter: good evening. here on the roof, there's been tense moments as you say and at least three arrests. nothing resembling an actual collision. >> you must leave. >> reporter: police fired pepper spray for crowd control when a group of several hundred protestors stopped following police instructions. the city was ready with around 1,000 out of town police officers. the law enforcement contingent of 4,000 uniforms including the national guard troops. elsewhere, in a town that seemed all before paralyzed, there was football in streets and shops and businesses that chose to stay open. >> there's people walking around. vendors. nobody came by. it's like a ghost town. >> reporter: there's been a bit of that so far. windows smashed at a bank branch. shopping has been the absence of customers in a security lockdown. as for the protestors, some gathers in the rain. many said they are here to make a nonvi

. >> alcoa, great run. get out. >> short anf. >> time to sell some more re. >> get short caterpillar. >> coming up next, "options action."

alcoa, hein sgr and u.s. steel. forbes recently named pittsburgh as one of america's best cities for job growth. that's it for us for today. next week what your kids are eating at the school cafeteria. we'll talk to a different kind of lunch lady. join us for that. each week keep it right here where wall street meets main street. have a great week, everybody. i'll see you again next weekend. >> i'm sarah and this is "open house." today we travel to exotic bali for tips of dressing up your desiit

alcoa, hein sgr and u.s. steel. forbes recently named pittsburgh as one of america's best cities for job growth. that's it for us for today. next week what your kids are eating at the school cafeteria. we'll talk to a different kind of lunch lady. join us for that. each week keep it right here where wall street meets main street. have a great week, everybody. i'll see you again next weekend. >> announcer: the following program is a paid advertisement for the big boss grill, brought to you by emson, incorporated. imagine making delicious grilled meats and veggies, tasty stuffed sandwiches, golden brown waffles or scrumptious snacks and desserts in a flash without turning on your oven. well, now you can with the big boss grill, the amazing countertop cooker with interchangeable cooking plates to make all your favorite foods, from pancakes to paninis, from breakfast to midnight snack. attaching and removing the interchangeable plates are literally a snap. and the big boss grill cooks both sides at once, so it can cut y

that was thanks to alcoa and ge. both rising over 4% yesterday. and if that continues from yesterday, the stocks will have nine days of advances. and that's good news. and now financial mortgages dropped, and fixed rates rose. and there is a first-time buyer tax credit that ends in november. and then federal reserve chairman, ben bernanke, gave a caution out look yesterday saying technically the recession is over, but it will take time for the people to feel that way. it was bernanke's most direct enrsement, believe it or not, that we likely reach aed a bott. >>> blockbuster is trying to recoup losses due to the economy. it tried to compete by offering online services, but failing to see profits from the physical stores. back to you. >>> courtney, thank you. >>> the time is 11:49. still ahead, a reunion you just have to see happen. >>> also, meteorologist, tom kiein, will come back with a check of the forecast on wednesday. >>> we are looking for people that make the day special in the early-morning hours. if you know somebody like that, e-mail th

alcoa will kick us off next week, wednesday, october 7th. walmart interesting, did you see this today, answering the question which business best symbolizes america today. 48% of americans replied walmart, google 15%, microsoft, apple and the nfl. >> i would have thought coca-cola. >> apparently not. >>> under the radar, reliance steel predicting third quarter will come in between $14.45 per share. that is improved gross profit margins and higher spending volumes. big five sporting goods expects third quarter profit to be at or near the upper end of 27 to 34 cent per share guidance thanks to higher sales and cost controls. nike reporting after the bell which will be interesting. >> shares of walgreen's soars. matt nesto looking at the drugstore chain. >> walgreen's the third best performer in the s&p 500. it, like the markets, is fading toward the close today. still the fact remains the stock is not only at its highest level since april of '08, 17-month high, but biggest volume day, 24 million shares flowing into walgreen's, that is triple t

the same can be said for alcoa.ck out those names and really it's the energy stocks driving here today. quickly point out and finally, the reit index getting a bid today. some positive comments today about reits. they're not issuing new building permits because people aren't getting loans. lets gate to scott wapner. >> on to positive territory but we're certainly off the best levels. we're up about seven points, 0.3%. oracle is now down, google is also in negative territory, along with ebay. all stocks were positive when this trading day began. intel's barelying onto a fraction ideal gain. morgan stanley upgraded the enterprise hardware business. apple, the price target taken up to 200 bucks at morgan stanley. jim goldman, as he mentioned, is going to have more on that. that's the story with the nasdaq. >> the folks around me with 15 minutes to put in the final trade. we're looking at gold prices we did hit an 18-month high, but gold has fallen below that $1,000 mark. a couple factors though that had gold prices at

eastman kodak, alcoa, international paper, eastman does -- seems like it's going to be the next one of those. its been going up chi leastly, has a terrific brand name and a terrific printer business. i can't get behind it as much as i would like to. these stocks have a habit to go higher, just because of their brand name and people can't believe how low ek is. john in colorado. john! >> caller: boo-yah, how are you doing today? >> not bad, thank you for asking. how about you, john? >> caller: i'm doing fantastic. fantastic. quick question for you. skywest airlines, the regional airline, and i know traditionally airlines are kind of a chump's move, but they seem to be doing really well even in this economy. >> john, you're right. you know what's going to happen with my all-time negative, i would rather send tuition money to a college of my choice group, is this, i think you're going to miss them if you have my stance. you'll miss what you just pointed out. somebody upgraded the airlines saying a big percentage gain. i have to miss those, because i would have -- jetblue or united. i am n

steel, alcoa, bhp billiton. the same with the energy group. oil service stocks, like smith this week, and exploration stocks also on the weak side. how about the ipos. there's certainly more ipos that are coming. and there will be more if the market holds up. today in particular, real es statement investment trust, two of them priced at $20 apiece. both of them trading below expectations. more importantly this is half the total size in terms of the shares, were cut in half last night, not trading very well here today. mostly real estate commercial debt instruments. let's take a look why the ipos have been weak here. remember, they're not buying anything yet, there isn't any money to buy things. uncertainty around commercial real estate. a lot of idea that this is the right time to buy commercial real estate, a lot of kiss agreement about that. let's go around the horn and talk to haul my friends. we've got all the bases covered and we'll start with scott wapner at the nasdaq. >> weak spot is technology, more so as we moved into the afternoon.

the material sector, the worst sector of the s&p is alcoa, down big.ee how it trends, all the me l metals are down. and ak steel down 6%, i'm going to categorize the last two as do you pile on to the trade? or do you pile up the profits and get out? take a look at american greetings. hit a 52-week high. tremendous volume. their story is year over year, the revenue fell. but profit up 12-fold. up 25%. i don't know if that's going to hold up. the same with head hat. huge volume, all of these stocks, red hat double the normal volume. hit a new high. pulled back a little bit. they improved their profit as well. the same question, is it time to take your profits? back to you. >> brian, thanks so much. i think the move in gold has been so interesting since the fed meeting yesterday. >> talking deflationary downdraft. gold, materials, crb, copper, commodity stocks, oil, as you say. it's like something is cooking. i'm not sure i understand it. because i didn't think the fed said tight money yesterday, not by a long shot. >> it almost seemed coincidental. as yo

the material names like alcoa, unfortunately, because of their low share price you be abunable the dow very much. same day for general electric. big day for uncle "g." almost 5% move on the day. the problem is that $14 share price makes it the second smallest weighted stock in the dow. also worth a note here today, going to be some strength in the reits. a couple analysts talking up the sector. they say the rate of decent has slowed. they like that. i'm going to rick out of the cme. >> thanks, matt. as we look at the aftermath of 29 and 29, so $58 billion in three and six-month bills and the three-years that were auctioned, the markets haven't really changed. an intr day three-year, you can't discern too much from this one. it's pretty much -- with slightly lower yields. you can make an argument rates went down after 1:00. the next chart dollar index hasn't improved at all. the last chart, the gold futures, isn't it prophetic it settles on the open outcry right at $1,000 an ounce to make the issue even more confusing. at the end of the day, something valuable did occur. maybe you need

alcoa up in today's trade. home depot, walmart, hewlett-packard and cisco. there you see more of the technology issues. >> if you're banking on a near term correction, you might need to rethink the strategy. matt nesto doing a little work, why some investors are betting the rally roelts on. >> we're going to the zoo. we've got brown bears and we've got black bears and polar bears and grizzly bears. we've got now blushing bears, because this whole september seasonality argument has really not worked so well, right? truth is, if you talk to brian and read his report, if you look at the march low, this is what most of the investors are focusing on, this 55, 60% run-up, this is unsustainable, they would argue. but he's going to say if you normalize this and look at bear markets going back since 1970, this is what you need to be looking at, folks, is that we've really only regained about 1/3 of that amount we gave back in the previous bear market, which started two years ago. so catch me if you can. it's what we're going to call this one here. the bears, he point

alcoa, u.s. steel, exxon mobil on the energy side and harmony on the downside. >> news out of caterpillar? >> yeah. caterpillar is coming out with its august retail sales numbers. for the three months ending in august on retail sales, down 48%. big drop in north america. down 57%. and also seeing weakness in asia. so that stock's under pressure. add to that we have potash, a fertilizer company warning for the third quarter and in general the ak cultural space is weaker today on the back of the news of those companies. >> thank you very much. i'm going to send it back over to larry. >> i'll take it, actually. >>> senator chris dodd is proposing the merger of four bank agencies into one super regulator. but he doesn't want that to be the fed. both differ from what president obama envisions. how feasible is the plan? joining us now to discuss, "new york times" reporter and matt mccormick from ball gainer investment counsel. if i have four things sitting on my desk and i toss them all into one bag, i

alcoa the worst stock on the dow. hewlett-packard number one with a 2% gain., two financials duking it out for the top and the bottom spot. moody's down 20%. aig there and back and there and back again. up 11% this week. interestingly, the transports, the dow transports, not surprisingly, i guess, given the kind of cyclical retreat we saw toward the end of the session here today, the dow transports were down about 4.3%. so much worse than the dow and the s&p. conway down about 15%. but yrc, little yrc trying to make a comeback, up about 15%. and lastly the russell 2000, chelsea therapeutic just blowing up 15% and perot systems of course acquired by dell. back to you guys. >> great summary, matt nesto. thanks so much. thanks so much for watching. "fast money" is up next. you have a very good night. >> announcer: this is cnbc.com "news now." >>> world leaders at the g-20 summit in pittsburgh agree to maintain stimulus programs until a recovery is assured. in the 95th bank failure of this year, regulators closed atlanta's georgian bank. its $2 billion of deposits

copper, aluminum stocks popping the tape today with alcoa jumping more than 3% apiece if we are to believe that weak dollar is going to be a reason why gold stocks will rise, therefore go believe that copper and some of the other base metals will also rise? that makes the most sense. but is gold moving perhaps on something else? >> well, i think copper's the metal that you play the economic recovery, particularly coming out of asia right now. freeport-mcmoran. that's been the trade right now. it is pressing up toward 70 bucks. there will be resistance there. i'm not necessarily sure that it gets through there. but again, all this is tied to the dollar. and we are looking at an environment where the dollar is going to continue to maintain its weakness. whether it be oil, whether it be copper, whether it be gold, right now you're going to have underlying support just as long as the dollar itself continues to decline. >> and i'll go back to what pete's saying, that he's been on for a long time as waurltd industries up 5% today, that's one of those under the radar screen names that nobody spea

>> sell alcoa, great run time to get out. >> long suze short anf. >> time to sell some more rig. >> boughtrpillar puts today. get short caterpillar. >> don't miss the reear at 8:00 p.m. followed by "options action" at 8:30. have a great night. >> announcer: monday, they're the ones to watch. a new emerging market for us with huge opportunity. the chairwoman shows you how to play it. and a chip breakout? top analysts on what's tops in tech. "fast money," 5:00 eastern monday on cnbc. first in business worldwide. an eleven sixteenths wrench over here? psps

you want to be short alcoa. >> i'm melissa lee thanks so much for watching. see you back here tomorrow 5:00 p.m. eastern time for more "fast money" on cnbc. we are first in business worldwide. >> announcer: tomorrow, take your position ahead of home builder earnings. guy adami builds a foundation for a smart trade. plus, which bank is ready to take the crown as the new king of wall street? "fast money." 5:00 eastern tomorrow on cnbc. first in business worldwide. ♪ look at this man ♪ so blessed with inspiration ♪ ♪ i don't know much ♪ but i know i love you ♪ and that may be ♪ all i need ♪ to know (announcer) customers love ge aircraft engines almost as much as we love making them. innovation today for america's tomorrow. >>> i'm jim cramer, and welcome to my world. >> you need to get in the game. >> firms are going to go out of business, and he's nuts. they're nuts. they know nothing! >> i always like to say there's a bull market somewhere. >> "mad money." you can't afford to miss it. >>> hey, i'm cramer. welcome to "mad money." welcome to cramerica. other peo

we're on our first at the alcoa corporate center. you can see the allegheny river behind me here. the president and other world leaders as you mentioned will be arriving here throughout the day. a lot of them are, of course, coming from the u.n. general assembly in new york. the global economy is at the top of their agenda. member countries represent about 90% of global gross national product, 80% of world trade, 67% of the world's population. as is often the case with global summits, the leaders will be met with protesters. the green peace activists yet repelled off of pittsburgh's iconic west end bridge. the demonstrators could be seen dangling from a huge banner that said danger, climate destruction ahead. release co2 now. downtown is sealed off in various restricted zones. the mayor here estimates the cost of all this extra security could hit almost $20 million. the feds are going to provide about $10 million. pennsylvania pitching in about $4 million. the city is going to have to make up the on the map is worth the extra cost. state police, 1,200 troopers in the area. the pen

gamble doing better, industrial names, big interlos angelesal names, caterpillar, united technologies, alcoa weaker today a few groups moving. michelle mentioned the airlines. remember, they have had big capital raiseds recently and very successful ones a big note this morning out, ubs talking about all that, where it might mean and upgraded bottom line they upgraded a couple of big airlines,morning out, ubs talki all that, where it might mean and upgraded bottom line they upgraded a couple of big airlines, qb homes down, did get earnings, while they did have a loss not as bad as expected, cautious comments from the economic outlook from the ceo weighing in on that sector. trader talk.cnbc.com, down 1 1/2% on the nasdaq this week. >> not helping, down two-thirds of a percent, techs are weak. rim down 16% or so, the number of upgrades goldman off the conviction buy list and deutsch putting it to a sell. apple weak, google weak, cisco bucking the trend, the plus side. ipo, biggest of the year in the u.s. this year, from shanda games, the chinese company, 12.50. also the largestism po ever in t

reports suggest alcoa aluminum will be affected. >> what do you expect?> reuters has announced plans to build a factory in china. it will be jointly managed with ford's partners in china. the new setup will cost ford $419 million and will kick off production in 2012. the new plant will significantly boost production capacity for both ford and mazda. elsewhere, shanda has reportedly priced its ipo shares at $12.50, which is at the top of its indicative range. it will raise $1 billion in the largest ipo in the u.s. this year. the deal was more than ten times oversubscribed and would be the largest fass dak ipo ever by a chinese company. the offering is capitalizing on china's red hot online games market and industry revenues could jump as much as 50% to $4 billion for this year. >> well get a final thought now from andy brough. he's been with us for most of the past hour. what kind of nugget would you leave us with? >> i think you have to prepare your portfolios for two things, first of all, significant cuts for government spending the government spending i

dow recouping losses from yesterday's session thanks to the likes of caterpillar, jpmorgan chase and alcoa>> i'm michelle caruso-cabrera. paul otellini addressing developers in san francisco. he's comments are helping to lift the chipmakers stock today and right after he wraps up his remarks, jim goldman will interview him live and first right here on cnbc. >> i'm batting cleanup. president obama meeting today with china's president as our countries remain at odds on key trade issues. is it time for the u.s. to get tough on china trade? or do they already own us? a debate is coming up. >> how do you really feel about it? >> we have had a number of people writing in with their favorite uncommon economic indicators. something they personally watch. anything that you watch that don't come out of the government numbers? anything fishing related? >> fly rods. >> fly fishing related? >> that can help, but along those lines my favorite indicator is what i call out your window. >> okay. >> which is? >> people forget to look out their window and see what they see there. there is an awful lot of stu

bank of america, cisco, alcoa dragging the blue chips lower.oca-cola are among the dow winners. >> i'm michelle caruso-cabrera.. here at the new york stoke, what's the buzz down here regarding the president's remarks? we'll get trader reaction coming up. >> if you missed, it the president did make his push for financial regulatory reform during his speech in federal hall across the streetm where michelle is at the big board within this last hour. included in his remarks, a warning for wall street. listen. >> we will not go back to the days of reckless behavior and unchecked excess that was at the heart of this crisis, where too many were motivated only by the appetite for quick kills and bloated bonuses. those on wall street cannot resume taking risks without regard for consequences and expect that next time american taxpayers will be there to break their fall. >> our task force, including david trone, banking consultant burt ely is with us. and james papacoucus. we noted the last of enthusiasm as noted by the one time he got applause during th

we are actually at the alcoa corporate center. i'm told we're on the paul o'neal terrace.hat name ring a bell? >> he was a red, then really made a name for himself at the yankees. one of the sweetest swings that i can remember. i don't even remember him playing for the pirates really. >> right. right. too long ago. joe, the president is not scheduled to arrive here in pittsburgh until this afternoon but some other world leaders are already here. delegations from saudi arabia and indonesia both arriving yesterday. the global economy is obviously at the top of the agenda. member countries here amazing numbers. represent about 80, 90% of the global gross national product. 90%, 80% of world trade, 67% of the world population. but as often the case with global summits, leaders are going to be met by protesters. yesterday we had greenpeace rappeling off a bridge. demonstrators could be seen with a banner, danger climate destruction ahead. reduce co2 emigs now. they hang there for hours before the police arrested them. they are in jail today. security is tight. downtown, sealed o

he joins us at alcoa center to jump in on that topic.here's a lot going on. >> there is a lot going on. welcome to pittsburgh. >> these summits usualley are mishmesh. banker's bay, should be linked to long-term value, not excessive risk taking but not direct monetary caps that sarkozy and some others wanted. has this turned into a witch hunt for bankers or not? >> i don't think so. i think that kind of bonus program is exactly you what find most of the financial institution, including ours, to adopt. i think the bigger issues are more important. in other words, having this group coordinate itself on stimulus. on liquidity, and on free trade. and i agree with secretary geithner they ought to come up with deadlines and timing on these things in order to prevent what happened before. >> are you encouraged -- discouraged by the seeming lack of coordination or lack of agreement between americans and europeans or do summits like this give you some heart that the story is going to be straight around the world? >> i think it's a lot like raising

my perspective of courseomes from tennessee where alcoa shut down its smelter where my dad worked.they're looking for a cheaper electricity contract. goodman makes a large percentage of all of the air conditioners in america, tell me if their electric bills go up, their jobs go overhe's a. eastman chemical employs 10,000 tennesseans and uses coal as a feedstock. the company says that if waxman-markey goes through, they too might be headed overseas. the vero refinery employs 600 people refining fuels, including jet fuel for federal express. federal express employs 35,000 people around memphis, nearly 300,000 around the world. waxman-markey would cost valer valero $300 million or more per year. today that company's profits are $40 million a year that the refinery. we have two big ser computers at the oak ridge national laboratory in part because o our abund ens of low-cost electricity. just one of those machines consumes megawatts, nationwide computers use 5% of our electricity. it's still growing much our governor has attracted two manufacturing plants to make polysilicon for solar