we talk with alcoa c.e.o. klaus kleinfeld. you're watching "nightly business report" for thursday, october 7. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: this program is made possible by contributions to your pbs station from viewers like you. thank you. captioning sponsored by wpbt >> tom: good evening and thanks for joining us. alcoa reported upbeat quarterly earnings after the bell. susie, the aluminum giant is the first dow component to report. >> susie: tom, investors approved-- the stock rose 3% in after-hours trading. alcoa posted a quarterly profit of $61 million, or nine cents a share. that's four cents more than analyst estimates. revenue also came in higher than expected, up 15% to more than $5 billion. c.e.o. klaus kleinfeld will join us in a moment to talk about those results. but first, tom, last month, consumers showed they're ready, willing and able to spend. the result was better-than- expected september sales for many retailers. the big wi

alcoa kicks of third quarter earnings season, we'll talk with c.e.o. klaus kleinfeld. our coverage of the midterm elections continues in nevada. the state is struggling with a massive housing bust and high unemployment. we'll look at what people there are thinking before they head to the polls. the phrase "going green" can often mean different things to consumers and companies. so the federal trade commission wants to change that. today, the agency issued new guidelines for businesses. now, marketers must prove claims for being eco-friendly and recyclable. the so-called green guidelines were last updated 12 years ago, before the widespread use of terms like "carbon offsets" and "renewable energy." >> tom: fritz henderson is closing the book on his consulting work for g.m. the automaker's former c.e.o. stayed on as an advisor after being forced out late last year. now he's ending that relationship permanently, and joining oil refiner sunoco as a senior vice president. g.m. has had four c.e.o.s in the last 18 months. the automaker is expected to go public again next mont

alcoa fell more than 2.5% today. this is a 180-session chart. the stock clearly had been rallying, perhaps in anticipation of strong earnings. shares were up 18% in september. the merger rumors coming off the weekend weren't enough to lift the broad market, but there were some clear winners, including sara lee. s-l-e. here's the jump today, more than 7%. on this 90-session chart, you can see how the rally takes shares to a one-month high. on a longer chart, shares have been pretty stable over the past 12 months, generally sticking between $13 and $16 per share. reports indicate buyout shop k.k.r. expressed interest in buying sara lee earlier this year, but the company said no. other rumor and two deals, computer data storage company isilon hit a new three-and-a- half-year high. bloomberg reports it hopes to spark a bidding war similar to the fight for rival 3par that was conducted between hewlett- packard and dell. two real deals, real estate operator m.i. has an offer to go private for $13 per share. although shares jumping well above that pric

alcoa reported a lower third quarter profit that, nevertheless, beat estimates. shares rose more than %. pepsi reported mixed results earlier with earnings matching expect ages,ut its future outlook disappointed. pepsi fell 3%. >>> rates on 30-year mortgages fell to the lowest level in decades for the ninth time in 12 weeks with the average rate for 30-year fixed loans dropping 4.27%. >>> finally, in case you hadn't noticed, the future is here. latest example, pay pal's iphone app which allows you to deposit a check by sendin in a photo of both sides. the feature cleared $100,000 worth of checks in the first 36 hours it was available. >>> another twin killing in minnesota. a texas two-step in tampa and tucks in pennsylvania. lus, tim lincecum, known as "the freak" was down right scary last night against the braves. your early morning sports headlines aretraight ahead. >>> and on this friday, i'm struggling to find any bad weather. your weekend forecast is coming up. you're watching "early today." >>> good morning. if you're just waking up, this is "early today."

we'll get alcoa as well as pepsico. the real question is will companies be able to sustain the strength they had in the second quarter. we expect earnings to grow but perhaps not as well as we did in the second quarter. the big issue route now is jobs. we had the adp report yesterday. we lost 39,000 private sector jobs according to adp. today, we'll have initial claims for unemployment but tomorrow, we get the big labor department unemployment report. the expectation is we'll go up with unemployment rates and we'll be flat on job creation. so it is not boding well for job creation recovery and how trade ares teal with that tomorrow inform they miss that number and it is worse than expected, look for people to take some profits. >> a lot of people were forced into foreclosure or headed that way because they lost their jobs. we have some of the huge lenders stopping foreclosures in some states because of sloppy paperwork. is there a chance that we might now see lawsuits on this fronted? >> there is a good chance because t

steel and alcoa both fell more than 2%. the bank of japan surprised investors cutting its benchmark interest rate to near zero. >>> back on the street yesterday, american express was the biggest drag on the dow, losing 6.5% after vowing to fight anti-trust charges filed by the department of justice yesterday. visa and mastercard were included in the suit and have already agreed on satellitement. >>> microsoft weighed down tech stocks, flipping nearly 2% aftr an analyst downgrade cited competition from tablet computers. sanofi launched a hostile offer for gemzyme. the massachusetts company has turned down offers twice. >>> sara lee got reported offers from kkr. >>> and finally, closet eaters, rejoice. sneaking a midnight sun chips snack is about to get a whole lot quieter. in response to overwhelming consumer complaints, free toe lay is sackg their biodegradable but incredibly noisy bags. >>> well, europe claims the cup. baseball starts handing out pink slips. and a major league gasp by a pittsburgh pirate. plus, the patriot

as always alcoa unofficially kicks off reporting thursday. other companies reporting include yum brands, costco, monsanto, micron technology and pepsi. >>> as for other data, pending home sales and factory orders for august kick off the week. an index of service sector activity is out tuesday. thursday brings yet another unemployment reading. initial jobless claims. and wholesale inventory for august come out friday. >>> finally, are you a pet lover and into social networking? then you'll love puppy tweets. it's an electronic sensor you attach to your dog's collar that detects movements and sounds and sends a variety of tweets to a twitter page you set up for your dog. if your dog is very active he could tweet, chasing everything that moves is definitely a full-time job. a spokesperson jokingly warns, you can't reply, at least not yet. bears. plus former eagle donovan mcnabb shows philly fans what they're missing. your early morning sports headlines are straight ahead. >> we're starting the week with an ugly weather pattern in the mid-atlanti

steel and alcoa both fell more than 2%. the bank of japan surprised investors overseas cutting its benchmark interest rate to near zero. a small but significant slide from its previous target. >>> back on the street yesterday, american express was the biggest drag on the dow, losing 6.5% after vowing to fight anti-trust charges filed by the just it department yesterday. visa and mastercard were included in the suit for allegedly violating credit card acceptance policies and have already agreed on a settlement. >>> microsoft weighed down tech stocks, flipping nearly 2% after an analyst downgrade cited strong competition from non-windows based tablet computers. and launched an $18.5 billion offer for genzyme by sanofi. the massachusetts company has turned down offers twice. >>> sara lee got reported offers from kkr. reportedly it sparked interest from consumer goods conglomerate unilever. >>> and finally, closet eaters, rejoice. sneaking a midnight sun chips snack is about to get a whole lot quieter. in response to overwhelmi

apart from that a pretty busy week on the markets, aluminum producer alcoa will kick it off thursday after the blel. on top of that we get lots of economic data to suggest and go through. we get pepping home sales, ism nonmanufacturing and friday we're looking ahead to the biggest and most closely watched report from all of it, of course, it's the september jobs report. on that note ill's send it back over to you. >> carolin schober, thanks so much. >>> the game that put jar cutler into a state of unconsciousness, as well. undeteated visit for the bears. >>> plus, a report from mark halperin suggests the 2012 presidential feel could include a man that not only brings hope and change but luxury and class. we'll get out the vote for the donald when we come back. [ country-western music playing throughout ] [ female announcer ] no matter how rough your period is, the super-fast absorbency of always ultra helps keep you in the saddle. in fact, no other ultra absorbs faster. and that's no bull. always. i'm a teenage girl. [ cellphone beeps ] my bff becky texts and says she's kissed johnny

another round of corporate earnings reports also on tap, with alcoa and pepsico among big names to report. wednesday, some bad news on the job front made for a mixed day on the market. the dow gained almost 23 points. the nasdaq slipped 19. >>> wall street will also get the latest snapshot of consumer spending habits, chain stores report september sales today heading into the holiday shopping season. the national retail federation predicts sales will rise 2.3% over 2009. that would be the biggest increase in three years. consumer spending accounts for about two-thirds of economic growth. >>> soon, at&t will not be the only game in town for the iphone. apple reportedly begins mass producing a new iphone by the end of this year that would use the verizon network. while the iphone's consumer ratings are through the roof, the complaint has always been it was available only to at&t customers. >>> and facebook trying to make it easier to organize your friends. the social networking site unveiled a new groups feature wednesday allowing you to separate your friends into more subcategories. althou

dow component alcoa kicks off the third-quarter reporting season on thursday after the closing bell. >> tom: expectations are for generally upbeat results. but as scott gurvey reports, the quarter is likely to include its share of surprises and disappointments. >> reporter: wall street expects to see better than 20% earnings growth when companies report third-quarter profits, and the quality of those profits is improving. sri raman of thomson reuters says that's because revenue is increasing as the economy recovers. >> top line growth is something that we've started seeing of late. we always knew that there were cost-cutting that was causing earnings to improve, and finally, we're seeing the top line join the cost-cutting that was taking place to actually cause these solid numbers going forward. >> reporter: but with the economy growing only slowly, earnings improvements will be selective. positive surprises are predicted for autoliv-- an auto components maker-- viropharma, halliburton, and two insurance companies, progressive and ace, benefiting from the mild hurricane season. negat

. >>> and there is high hopes for quarter earnings this week as always alcoa kicks off reporting thursdayother companies reporting include cosco be micron technology and pepsi. as for other data penning home sales and factory orders for august kick off the week. an index of service sector activity is out tuesday. thursday brings yet another unemployment reading. initial jobless claims and wholesale inventories for august come out friday. >>> and finally are you a pet lover? and into social networking? you will love puppy tweets. it is an electronic sensor you attach to your dog's collar and detects movements and soups and sends tweets to a twitter page you can set up for your doll. if he's active he could tweet chasing everything that moves is a full time josh. you can't reply at least not yet. i'm sure that have coming. >>> in health news researchers announced teens who become pregnant after gastric bypass surgery may have an increased risk of children with birth defects. it can lead to deficiencies and could affect the development of the fetus' brain and spinal cord. some are skeptical

steel and alcoa both fell more than 2%. the bank of japan surprised investors overseas, cutting its benchmark interest rate to near zero, a small but significant slide from its previous target. >>> american express was the biggest drag on the dow, losing 6.5% after vowing to fight an - anti-trust charges. visa and mastercard were included in the suit for allegedly violating credit card acceptance policies and have already agreed on a settlement. >>> microsoft weighed down tech stocks, slipping nearly 2% after an analyst downgrade cited strong competition from tablet computers. >>> sanofi aventis launched a hostile $18.5 billion offer for genzyme. the massachusetts-based company turned down formerly friendly offers twice. >>> sara lee got a boost from an unsolicited takeover offer from kkr which reportedly sparked interests from unilever. >>> and finally, closet eaters rejoice, sneaking a midnight sun chips snack is about to get a whole lot quieter. in response to overwhelming consumer complaints, frito lay is stacking their

alcoa kicked off earnings seasons after the closing bell reported a lower third quarter profit that,evertheless, beat estimates. shares rose more than 3%. pepsi reported mixed results earlier with earnings matching expect ages, but its future outlook disappointed. pepsi fell 3%. >>> rates on 30-year mortgages fell to the lowest level in decades for the ninth time in 12 weeks with the average rate for 30-year fixed loans dropping to 4.27%. >>> finally, in case you hadn't noticed, the future is here. latest example, pay pal's iphone app which allows you to deposit a check by sending in a photo of both sides. the feature cleared $100,000 worth of checks in the first 36 hours it was available. wow. >>> well, in health news this morning, health experts said thursday a surprising jump in the number of americans hobbled by arthritis may be due to obesity. the president of the arthritis foundation said the increase is primarily due to baby boomers who are at a age when they are likely to suffer the most common form of arthritis, and a high rate of baby boomers are overweight and obese. for m

food giant pepsico met expectations while alcoa passed analysts' estimates. if you've been waiting verizon to ring up the iphone, your wait may soon be over. apple will have a new version of iphone ready for verizon customers at the end of the year, ending its exclusive deal with at&t. so is there anything left for government to do when it comes to stimulating the economy and creating jobs? or are we out of bullets, if you will. joining me now is the economics professor at princeton university and former federal reserve vice chairman. allen, good to see you. thanks for joining us. >> good to be here, maria. >> the big story of the week was the september jobs report. were you surprised by the number? 95,000 jobs lost in the last month. >> i think these days everybody is looking at private sector. and we had plus 64,000? not good. neither number is good. i don't think it was very surprising. people are looking for a low, a poor number, and we got a poor number. it was not a good report. >> what should be done about job creation at this point, both on the fiscal

alcoa was up more than 18%. its earnings are due out in a week. and home depot rounded out the best three with a 14% gain in september. and that is tonight's "market focus." >> susie: expect to keep paying 44 cents for first class stamps next year. the postal service wanted to increase the rate by two cents beginning in january, but today, the independent panel that oversees the post office denied that request. the reason? the postal regulatory commission said the requested rate hike was not due to the recent recession. instead, it was an attempt to address long-term problems like retiree health benefits. the postal service hasn't commented. here's what we're watching for tomorrow: our friday "market monitor" guest is gerald buetow, chief investment officer at innealta capital. also, the august reports on construction spending and personal income come out, along with september's auto sales. and speaking of cars, it's one of this years most hyped models, but can the small chevy cruze generate big sales for general motors? mattel's fisher price unit

dow component alcoa reporting its third quarter earnings, as well as consumer giant pepsico.n on friday, the big kahuna of economic reports, the september jobs report will be out. we will learn how many jobs the economy created or lost in the last month. >>> and finally today, giving a high-five to a more empowering social network. launched at a pep rally in new york this week, the u.n. foundation's girl up campaign asks american teenagers to give a high-five to their peers in developing nations. these are $5 donations for school supplies, water, medicine, or other opportunities. there are more than one billion young people age 10 to 19 globally. more than half are adolescent girls in developing nations. that will do it for us today. thank you so much for being with me. next week my guest former council of economic advisers chair martin selsteen. have a great week, everybody. i'll see you again next weekend. [nursery music playing] dust from lead-based paint could cause violent behavior. if your home was built before 1978, log on to leadfreekids.org.

alcoa has posted its first significant drop in price since a record breaking level of one thousand three hundred eighty eight dollars per ounce last week the price fell two point one percent to july levels amid a strengthening dollar and china's central bank's decision to raise interest rates . yeah whose net profit went up one hundred thirteen percent in the third quarter of two thousand and ten the world's second largest internet search engine earned nearly four hundred million dollars that's up from one hundred eighty six million in the same period in two thousand and nine. was flat as it continues to climb out of financial stagnation recently yahoo was subject to a possible takeover by a.o.l. and a group of private investors however no official bits happen made. russia's second largest chemical fertilizer producer all here is planning to sell five hundred twenty five million dollars of bonds to repay debt and they were and may revise its plans for a public listing now in the late in its latest results the company announced it had increased its share of domestic sales to forty percent

in this particular case, the alcoa building, the structural members are on the outside of the building. so you can see it right away. what's the danger with this building? glass. good. glass. so you have your typical office. what are some of the hazards here? remember, earthquake island, what are some of the hazards? the lights, glass windows, yeah, glass we already talked about, the bad things. how about all the book stuff? building is still standing but everything else will fall right on top of you. bookcases, you want to secure those; right? this is what's going it happen. if you as nerts you went in there and got a report that there may be people trapped, where would you start looking for them? upper floors and void spaces. again, we talked about glass. are these people a little too close, do you think? did they give you a rule of thumb how far away to stay from buildings. well, actually 1 1/2 times the height of the building. so if you are in a 30-foot building -- you already did the math -- you want to be 45 feet away. glass falls out, too, do you think it just falls straight dow