how does this affect a business like alcoa? >> well, i think that we should work on not having it come to a shutdown. and if at all necessary then do it as quickly as possible, but let's avoid it. i am more concerned about the secondary effects, some of the things that uc today. the question of how that affects confidence. an economy that is just recovering. what we should focus on, i mean, the short term with the debt ceiling and at the same time work really, really hard on real fiscal reforms. that is what business people want and what business people -- what they highly recommend in this situation because the last thing that we need in a time when the economy is just recovering his tests and signs of a lack of confidence, volatility out there. that is what we are sure to watch. liz: lift the debt ceiling and then get to that really tough issues. you know, alcoa is certainly a beneficiary of a lot of government contracts. the huge aluminum producer. expanding the business into non an aluminum products which is just a brillian

alcoa was at $40 before the crisis. it's a metal that is used in -- you know i like claus -- after this kleinfelt is just a place to buy a wedding dress. they are in turbines for cans, they make the skin for the apple tablet, they're a huge aerospace play, a big construction company play, unfortunately many of those are bad, except for aerospace. did you know there are 3 million screws in -- >> no. >> before you diss alcoa. >> i did not diss alcoa. >> what does visa create? >> some share appreciation. some capital. >> yes, yes. >> visa will be the second most important stock in the index and goldman will be the third most important. >> goldman? >> yes. >> it's a tribute to lloyd, right? lloyd dow jones blankfein, right? at first i thought it was because his kid's in business school at harvard. they mentioned in the article about gender problems at harvard business school. everyone should read that piece, it's amazing. >> you want to move on? we didn't say anything about nike. is china coming back? nike and u.s. have bee

hp, alcoa, bank of america are out. it's the biggest shake-up for the industrial average in nine years. so we're trading all of the names with mike murphy, joe terranova, and steve weiss. joe, what are the trades as a result? >> i think, first of all, if you're intel, ge, you have to be concerned now. because you have the bottom three in terms of pricing in the dow that have gone bye-bye. listen, the s&p is a market cap weighted index. the dow, obviously, is price-weighted. that's exactly what's going on here. the editors over at the wa"wall street journal" did an excellent job of filling the void between chevron, which prices about $120 and ibm at 185, and now insert goldman sachs and visa, and you have two equity names that move right to the top of the dow and provide exactly what the dow's looking for. performance for the indexes to chase. >> you think it's a great move. >> i think it's great move, but purely based on price. price alone. that's why they did it. >> it's a price-weighted index. steve weiss? >> well, fi

it is interesting that alcoa would say that the big alcoa had one of its ceo's become treasury secretary not long ago, mr. paul o'neill. liz: indeed. that seems so long ago. let's break down today's market action. we have the jason watman. he will tell us the number one thing to watch in the market right now. last week he was one of the few talking about how the swiss franc was rallying. it was. that is a classic distress signal when the swiss frank is high against all our currencies. scott bauer from the pits of the cme. scott, to you. we were up, down, close to the flat line and down triple digits but not near the lows of the session. >> not at all. you mention ad few minutes ago watching the vix. what i watch is not only the vix but the volatility of the vix t sound kind offed, but if you look at volatility of the vix that is trading near its six to-nine-month high. even though the vix closed above 17 or so, that has traded up to 20 to 22, the volatility which is predicting more volatility going forward, is trading near its high point. coming out of the gate this morning when we saw t

you know, one point in the stock, whether it's on an $8 stock like alcoa, one point ask the same amount in that kind of thing. but when you have an $8 stock, you know, it tends to bounce around a lot more. if anything, maybe a touch volatile. the volatility wasn't really a concern. these are all big, well-known liquid stocks. this is not like a merging market stock where they bounce like crazy or something. we're not worried about that. >> david, when investors hear about changes like this, they start thinking like well, why didn't this company or that company get invited at the index and the two names that came up, google and apple have a huge influence on the economy and widely traded stocks. what's the story there? >> google, apple and all the other stocks, changing an inkex is not an investment recommendation, neither positive nor negative. google is $885 a share, apple i continue know but well north of 200 or 300. google would be 28%. if we put apple into it, it would be the google apple index, nothing else. >> okay. >> that's not what we're doing. we want 30 stocks to do a nice ba

so good-bye alcoa which was $8 lars stock. stocks thrown out, bank of america and hewlett-packard were the next lowest stocks in the dow. we brought in visa, goldman sachs and nike. absolutely there is a lot of cachet for being in the dow 30. it says you're one of the premier companies in the united states. tracy: they usually do two in and two out. interesting they decided to do three. you said in your notes, actually coming out. dow is good for the stock price. how so? >> yeah, usually, remember now, it's a committee of people that decide when the stocks go in or out and usually the committee will pick stocks that have underperformed poorly like alcoa, they go down to $8. after a massive period of underperformance, they say you're out. they look around and find companies like goldman sachs or visa that have done very well. they say you're in. over the next year or so, the underperformers bottom and rebound and outperformers tend to peak and underperformers thrown out of the index actually wind up doing better over the ones t

out, alcoa, bank of america and hewlett-packard. dom min nick chew breaks down the numbers on all six companies what it means to their stock prices and people that own the shares. >> look at what's happening intraday day so far. yes, the market is up overall but check out today's trade it's an up trade but the newest members of the dow are getting a pop ahead of their index inclusion september 23rd. goldman sachs up nearly 3.5% to 165 bucks a share. visa up about 3% we'll call it to 184 dollars and then nike up about a 1.5% to 66.48 a share. nike shares did hit a record high on the heels of this news. as for the names being dropped in the dow, kind of a mixed bag of sorts. hewlett-packard, alcoa are down, but bank of america is joining all the other financials moving to the upside despite being unfriended by the dow. for the momentum these guys have going into this inclusion, visa up about 15% this year. goldman 21% to the upside. and nike is up get this 26%. some serious momentum there. as for the dropped stocks, hewlett-packard ha

alcoa, hewlett-packard out. told they were considering eight changes, not these three, but eight. and they rejected them that they're overly dramatic. >> that's just nuts. three at a time is good, right? come on, that's happening too much. stuart: i tell you, i can't work out the math. why isn't google in there and apple in there. how could you put in a 900 stock and 500 stock. my head is spinning, i don't understand the mathematics of the average. nicole: and the representatives of the company haven't elaborated either, but the company, it's a big deal. biggest shake-up in a decade. stuart: there you go, sum it up. big deal. i've got to move to big names which have been moving. look at tesla, in a few minutes, we will have a university professor with us, says it's overvalued. tesla is up. and he says far too much. facebook on a tear since the end of july and trading near the all-time high and up again this morning, but just 9 cents. 44.13 is where we are. and later on big news from apple, iphones and an updated

take a look at alcoa. this is the other name.hree names that will be taken off of the dow. we will see goldman sachs, visa and nike moving in. all of this is taking place after the close on september 20. nicole: i do not like to miss any of the action. you are absolutely right. right now, i am taking a look at urban outfitters. they were talking about it, single digits in the third quarter. that includes online sales as well. they cut their price target from $52 down to $46. they talk about the fact that the outlook is favorable and whether or not you should buy. three people people may know. cheryl: thank you, nicole. ♪ dennis: what is bugging me? the ftc overreaching and drunk with power. arguments between verizon and the federal communications commission. new rules passed in 2011 dictating that verizon and other carriers have to charge the same rate for caring data traffic to other customers. no discrimination allowed. it is a government intrusion into the internet and privately owned networks. the judges yesterday pretty much

bank of america, hewlett-packard and alcoa. sandy's right. coming in than those going out. when we come back, the chairman of the s&p 500 index committee. >>> plus, lessons from the financial crisis five years later. we will talk with the former chairman and ceo of national financial partners. by the way, also happens to be the daughter of our guest host sandy weill. welcome. [ music transitions to rock ] make it happen with the all-new fidelity active trader pro. it's one more innovative reason serious investors are choosing fidelity. get 200 free trades when you open an account. [ male announcer ] these days, a small business can save by sharing. like carpools... polly wants to know if we can pick her up. yeah, we can make room. yeah. [ male announcer ] ...office space. yes, we're loving this communal seating. it's great. [ male announcer ] the best thing to share? a data plan. at&t mobile share for business. one bucket of data for everyone on the plan, unlimited talk and text on smart phones. now, everyone's in the spirit of sharing. hey,

neil: and dow stock shake up bank of america, alcoa, hewlett-packard are out, goldman, nike and visathe new instocks are buying and out ones you drop them? >> a lot of times one that drop will outperform for a while. but people who put up dow are trying to do what people are home are doing going for performance, they look at alcoa, never moving, and hewlett-packard should be in the 20s anyway, and bank of america, who even knows what is balance sheet, go for visa and goldman sachs back and nike, if you betting you want your index to do well you go with those 3. neil: what do you think? >> he is right, performance, if you look at dow versus other major indexes in last 6 months it is lagging, alcoa has not been a bellwether since i was prom king, hewlett-packard is probably going out of business. neil: wow, prom king. >> and i tell you, you know visa is another one, cash is so 2012, everyone is using plastic. neil: i think i asked all women that you turned down if wow would go with me, i think i went with my mom. >> how did you do? >> she said no. >> keep trying. >> what do you make of

and materials is, alcoa is much smaller segment of the economy.uminum companies out there. adam: right. lori: i think i was only one sad to see alcoa get kicked out of dow jones industrial average but i get why especially since nike is looking at third consecutive quarter of record earnings. it is a small bump up but a record nonetheless. what could this do to the dow about the valuation? >> we adjust by the mechanics in there will make a difference especially with goldman sachs which is much higher as well as nike. the prices are much higher. they will have more of an impact. the growth rate actually took a tick down because of higher cap issues. it is harder for them to grow but in general the s&p and the dow do correlate together over time, but short-terp, they definitely get out of whack. and that is a traders -- adam: you told us we'll have volatility. i think in this environment right now nobody wants any volatility. >> you will have volatility in there. there is so much unknown. outside of all conditions we have in washington and the fed. c

they'll replace bank of america, hewlett-packard and alcoa. it's making the move because the share prices of those companies is just too low and they want to diversify the dow components. speaking of stock indices let's look at how we finished the day. green across the board. the dow is up about 128 points or 0.8%. the s&p up 12 points and the nasdaq composite adding 23. the bullishness was reinforced thanks to upbeat industrial numbers out of china. they were up 10.4% in august. that beat economist estimates. stocks got a boost as military strikes in syria seem less likely, at least for now some real bullishness for the markets. >> dominic, great. let me ask you a quick one. why did apple shares fall so much today? >> well, you know, it's interesting, larry. typically speaking over the laston major announcements, the stock has tended to trade down on average. but if you wait another week or month out, on average apple stock does finish up. maybe a short term drop, but apple seems to have some momentum. at least for the last ten or so product

alcoa, bank of america, hewlett-packard now out. we have seen goldman sachs.inancials are drinking on this market. goldman sachs is one of the big lagers on the dow today. i was chatting with mark newton. he was saying that the market is facing some headwinds recently. the banks are weaker. we are watching names like goldman sachs, citigroup, bank of america, jpmorgan. overall, the financials are weaker. dagen: thank you. how much of this has to do with the federal reserve. now we have new york federal reserve bill dudley talking in a speech this morning. he is saying that we have yet to see any meaningful pickup. peter barnes joins us now here in new york. peter: we are here at fordham university. basically because the economy is not chugging along as high as he would like it, dudley voted against tapering. that was, of course, a surprise shock decision to the financial markets after months of hints that the fed officials could begin to taper in september. they never promised to taper in september. dudley is spinning out to try to explain the vote last week.

alcoa, bank of america and hp out. nike, goldman sachs and visa in. what the changes mean for the market and we ask whether the index is going to be to get an artificial bump. our interview with morgan stanley's james gorman, a lot to talk about including five years after the financial crisis. are we any safer? we will bring you that. do not miss it. [ male announcer ] ah... retirement. sit back, relax, pull out the paper and what? another article that says investors could lose tens of thousands of dollars in hidden fees on their 401(k)s?! seriously? seriously. you don't believe it? search it. "401(k) hidden fees." then go to e-trade and roll over your old 401(k)s to a new e-trade retirement account. we have every type of retirement account. none of them charge annual fees and all of them offer low cost investments. why? because we're not your typical wall street firm that's why. so you keep more of your money. e-trade. less for us. more for you. >>> okay. let's take a look at what the markets are up to. globally they are cheering a second day of stro

they took alcoa's slice or slot, rather in the dow jones does trial.e, slot, whatever you call it. it is best performer in the dow. sales over in north america and china as well. david: we are close, ladies and gentlemen. the clock is taking away to the point, looks like we'll be all green today, right, liz? [closing bell ringing] liz: listen, i have to tell you something. we jumped more than 40 points in the last hour, david. make it 30. but nonetheless, it's a better move pushing into the closing bell. there it is. look how stocks are finishing up. nasdaq, nice percentage move. david: very. liz: just under a full percent. russell 2000 also higher by half a percent up five full points. david: lance roberts is coming up. he said the nasdaq is one of the more undernoticed sectors. people are saying, n 6 nah, it topped out. he says there is room to move. looking at front page headlines, jamie dimon is all over the place. he met today with attorney general eric holder inside the beltway. it follows the reports that the bank could pay as much as $11 billio

stock exchange the dow jones is having a reshuffle alcoa bank of america and hewlett packard to be removed from the down arm replaced by goldman sachs these are a nike the decision is based on struggling stock prices and the desire to diversify the mix of companies represented alright let's now take aim with mr thomas saw in house investor and see what you've been up to this week i was away last week isn't peter's back i'm back now i want to know what you've been out well first of all when you left the weather got really cold and rainy you came back and it has been. but warmer so thanks for coming back to moscow for us china is increasing its crude output which negatively affects oil here in russia or at least that's what i would say however china is increasing their overall production which means it's good for the stock market so oil probably going to remain volatile for a while but i'm going to stay in and just kind of ride this one out because sometimes you just got to gamble right i'm thinking i'm going to go for a rough spots which is russia's agriculture company they're up one percen

. >> caller: and my portfolio held the past four years starting with alcoa, aa.rica, and ruth's hospitality. am i diversified? >> what we have to say. a good restaurant chain. small, but do a sector. memo to staff, do restaurants next week. emc, tech stock just downgraded probably a mistake. ford motor, 178 to 20. bank of america, stuck here at 15. speaking of stuck, alcoa. and aluminum, a bank, restaurant, a tech and auto. you and your cat rock! that's so close to home. dennis in new jersey. dennis? >> caller: hello, jim. i'd like to shout out a big boo-yah from pennington, new jersey, and to thank you for all the help that you give the little investor. >> harvard town lockdown road, because that's right where i go to get to the eagles. go ahead. >> caller: very good. the big question i'd like to ask you is, am i diversified. >> go the it. >> caller: nova northeast. nokia, berkshire hathaway class b. citigroup and ford. >> pennington. beat them in soccer. crushed them. coaching the 12-year-old girls. two financials. got to get rid of citi and add health care, we

alcoa and huet packard are also being shown the door. day of the new look dow will be on september 23rdrd. >>> toyota is recalling some 800,000 of its vehicles to fix a problem with its suspension. the lexus 250 hybrid, and the rav4 crossover. at least nine crashes and three injuries have been reported. it is the second time that toyota has recalled vehicles for the same problem. >>> that ohio man who confessed in an online video to killing a man while driving drunk has now officially been charged with the time. >> my name is matthew cordial, and on june 22nd, 2013, ji hit and killed vincent. >> that video now has more than 1 million hits. the 22-year-old admits he was drunk when he drove the wrong way down a highway. if convicted he faces more than eight years in prison. still ahead, we'll tell you how a machine is teaching scientists how hurricanes develop and grow. >>> and i'm dave warren, we are seeing hurricanes develop now, just topical storms now, i'll have a look at the storms in the national forecast coming up. >>> welcome back

alcoa, bank of america and hewlett-packard are out. the changes to take place after the market closes on september 20th. the index posting three straight days of triple digit gains mostly on relief about syria. the streak ended on thursday. the markets rebounded on friday. apple introduced two new iphones this week. the $99 5c. apple showed off a finger print reader so you won't have to remember that pesky pass code for your phone. the announcement dispientsed investors. the stock fell about 5% on the news. another basic tech company going private and michael dell is the winn winner. his battle to take dell private in a $25 billion deal. dell and silver lake was in the fight for this company. i spoke to michael dell about his victory, the future of dell and the toll this battle took on his company. >> it was some distraction. the team at dell did great job staying very, very focused. the last quarter our enterprise solution service grew 9%. one of our principal competitors had a 9% change in their business except in their case it was n

it used to be alcoa. alcoa is out of the dow. nike is in. we'll take a deep dive into the results and find out whether the bellwether company is on a -- liz: tesla model s sedan will be rented at hertz for about $500 a day. would you rent a tesla from hertz? two seconds just to try it out, right? >> i don't know. liz: log on to facebook.com/afterthebell. let us know. ♪ ♪ [ bell ringing, applause ] five tech stocks with more than a 10%... change in after-market trading. ♪ all the tech stocks with a market cap... of at least 50 billion... are up on the day. 12 low-volume stocks... breaking into 52-week highs. six upcoming earnings plays... that recently gapped up. [ male announcer ] now the world is your trading floor. get real-time market scanning wherever you are with the mobile trader app. from td ameritrade. with the mobile trader app. at od, whatever business you're in, that's the business we're in. with premium service like one of the best on-time delivery records and a low claims ratio, we do whatever it takes to make your business our

first, when you dump alcoa, what are you doing? well, you're actually eliminating a worldwide manufacturer of one of the most important materials in the world. aluminum. this is a very good company but in a bad industry. that's why it's down so much. used to be at 40 before the great recession. aluminum just isn't consumed as quickly as it's being produced. even though the metal has huge exposure to autos, construction, aerospace, turbines and even apple ipads, selling well, in its place, sneakers. sneakers. to me that shows the importance of the switch from heavy industrials to light apparel, much designed here but made overseas. the exit of hewlett packard signifies downfall of the personal computer. i say that, because one of the replacements, visa, isn't really a financial. it's a technology company. technology company that's helping to move payments from paper to plastic all over the world. once again, you have a subtle judgment about america with this add/drop. hewlett-packard, and visa, along with mastercard, figured out how

goldman sachs, nike and visa began to trade on the dow replacing alcoa, bank of america and hewlett-packardow down 53. the nasdaq down 8. s&p down 7. >>> the canadian smartphonemaker blackberry announced they are selling out to fairfax financial holdings. this puts the price tag at $4.7 billion. fairfax has 10% of the company's shares right now. fairfax's ceo says he plans to operate blackberry has a private company. >>> s it what a record- -- it was a record-opening record for apple phones sell since the phones went on sale on friday. >>> the sacramento kings are set to make a big announcement about a former nba great, joining its ownership group. the kings will formally introduce shaquille o'neal tomorrow. he has acquired a minority stake in the team under its new owner. shaqer to month meanted the kings with the -- toremented the kings with his career with the lakers. he wants to stay in sacramento rather than move to seattle. >>> changes are coming for disabled visitors at disneyland. starting oth 9th disabled guests won't be able to jump to the front of the line. instead, they will rec

industrial companies and that is soon to be six, because on tuesday the powers that be announced that alcoa, and banc of america will be dumped from the index. they are bringing in visa, big wall street bank goldman sachs, and footwear giant nike. nike doesn't actually manufacture its shoes in america, so it can't really be counted as an industrial company. why do you care about any of this? i don't think you should, really. the dow is the least representative index out there. some of you own mutual funds in your 401k or other accounts that track the s&p 500. and have you ever thought about pack up all of your belongings and heading to a rural part of america? that hunger for sampler life is one reason that huge parts of montana are enjoying a significant increase in 30 to 49 year olds. some have returned to be closer to family, but others have been drawn by new technology. ♪ i live inside of castle ♪ in white sulfur springs, montana ♪ >> for three days at the end of july, white sulfur springs in montana attracted almost 11,000 visitors. ♪ >> the third annual red ants pants music festival w

it's dropping bank of america, hewlett-packard and alcoa and will replace them with goldman sachs, visaike. the changes take effect september 23rd. this the sift three for three change -- first three for three change since april 8th, 2004. >>> at least 89 people have reported getting sick after eating the recently recalled chobani breek yogurt. no link has been confirmed between the illnesses and. >>> coming up on the 5:00 news, we continue to follow the firefight on mt. diablo. we go back to the fire lines to see how firefighters are doing plus the dangers still posed for dozens of homeowners near the fire lines. all of that and more tonight at 5:00. >>> thank you for making ktvu your choice for news. we'll see you the next time news breaks. we're always here for you at ktvu.com and mobile ktvu.com. mom? did nana ever give you cheerios when you were a little kid? yeah, she did. were cheerios the same back then? cheerios has pretty much been the same forever. so...when we have cheerios, it's kind of like we are having breakfast with nana... yeah... ♪ yeah. you're so smart. zabeth. and t

with hewlett-packard along with alcoa and bank of america getting replaced by three other firms including visa as well as goldman sachs and nike. chief reasoning coming from the dow jones index is that while the three companies leaving have had low stock prices and they think the other three companies are more representative of a broader industrial gauge of the world economy. stock market overall has been a solid day today thanks to hope over syria giving up its chemical weapons. dow up 110. >> thank you, kcbs radio's financial reporter jason brooks. >>> developing news in berkeley a man dying in an early-morning fire in an apartment building. 56-year-old andrew goodwin was found on the third floor. he was taken to alta bates medical center, where he later died. goodwin was a professor of media studies at usf and author of a well regarded book on music television. the fire in berkeley was first reported at 1:40 this morning and firefighters found the third floor engulfed in flames. 7 other people were able to get out safely from the building on oregon street near telegraph avenue. none of

the three stocks leaving, hp, b of a and alcoa have an average price of $15 a share.he new companies, goldman, visa and nike, average $134 a share. it's a big change, especially for alcoa, the aluminum company that traditionally kicks off earnings season every quarter and has been a dow component for 54 years. now, that switch announced this morning takes effect with the close of trading next friday, september 20th. reporting live in the newsroom, pam cook, ktvu channel 2 news. >> thanyou, pam. >>> today, a congressional hearing will focus on the conflicts between states and federal marijuana laws. the hearing was requested after attorney general eric holder changed federal drug laws last month. holder said federal authorities no longer will interfere while states adopt medical marijuana laws. today, the committee will hear opinions for and against legalizing marijuana. >>> a possible deal on chemical weapons. how will this new development in syria impark the political situation -- impact the political situation in washington, d.c.? we'll talk with jamie dupree -- nex

alcoa, bank of america, and hewlett-packard will be dropped from the index of america's top companiesecause of low stock prices. taking their place, goldman sachs, nike, and visa. it's the biggest change in a decade and will take effect september 23rd. >>> and it turns out that rumors about apple's new iphones were right. the tech giant unveiled the new iphone yesterday. it's faster, has a better camera, and a fingerprint scanner for security. it also introduced the cheaper iphone 5c. it has a new plastic shell and comes in five different colors. both run on the new ios 7 software which will be a free download starting september 18th. >> an many re? >> marlie hall in new york, thank you, marlie. >>> why a museum dedicated to the 9/11 deadly attacks is still in the works. (balloons popping) but with advair, i'm breathing better. so now i can help make this a great block party. ♪ [ male announcer ] advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bronchodilator working toget

alcoa, hp and bank of american are out. welcome to "squawk on the street." i'm carl quintanilla with jim cramer and david faber of the new york stock exchange. we are juggling a lot. the continuing threat of a government shutdown. decent sales numbers on the iphone, pretty good economic data. the shanghai getting a lift from chine chinese manufacturing pmi. angela merkel wins a third tern as german chancellor. some manufacturing numbers with weak. >>> apple selling a record number of its new iphones, recording that 200 million devices are now running ios 7. >>> leadership here and abroad changes the dow with the addition of nike, visa and goldman sachs. in germany, no change as chancellor angela merkel wins election >>> shares of blackberry slipping. they expect a nearly 1 million dollop per rating loss will cut some of its workforce. a vint bid with private equity >>> netflix shares, what else, they are higher. they did have a victory yesterday at the emmys >>> we'll start with p ale. the tech giant announcing it sold 9 million new models. apple says demand

change in the markets palo alto based helicopter helicopter one of three companies -- hewlett-packard alcoa and bank of america are off the dow replaced by three other companies. >>> walmart is launching a smartphone trade-in program. take your phone into a walmart or a sam's club store. you can get anywhere from 50 to $300 for it based on the condition and the type of phone that you're turning in. but here is the catch. you're going to be given a credit that can only be used to buy another phone from walmart. >>> those street views you see on google maps are cool to look at but a judge hints it's creepy. why google issued an apology. >> a heartwarming act of heroism in the south bay as a police officer prevents a bad situation from getting worse. ,, for a store near you go to benjaminmoore.com/bayarea. license and registration please. what's this? uhh, it's my geico insurance id card, sir. it's digital, uh, pretty cool right? maybe. you know why i pulled you over today? because i'm a pig driving a convertible? tail light's out.. fix it. digital insurance id cards. just a click away with th

its three weakest performers-- former giants bank of america, hewlett-packard and alcoa-- will be removedhe 30-stock index and replaced by goldman sachs, visa, and nike. those that run the dow say the changes better reflect the u.s. economy. apple no longer dominates the market in smart phones, but today the company rolled out two new products that it hopes will turn things around. here's carter evans. >> the most forward-thinking phone we've ever created. >> reporter: the new iphone 5s is fast we are a better camera and a fingerprint scanner for security. but apple's phil shiller said for the first time the company is also offering a cheaper iphone-- the 5c. >> it comes in five colors-- blue, white, pink, yellow, and green-- at a price of just $99. >> reporter: is apple changing its focus from ground-breaking technology to affordable? >> in some ways. apple is going the more mainstream route. >> reporter: tim stevens is from the technology web site cnet. he says apple is looking beyond the u.s. to china. why is china so important to apple. >> we're talking about 700 million subscribers w

the dow jones announced that hewlett packard, bank of america and alcoa will be removed.p has been part of the index since 1987 but suffer add steep decline since more are buying smartphones and tablets. >>> a congressional hearing today focused on state and local marijuana laws. secretary holder said that federal authorities will no longer interfere with state that is adopt marijuana laws. they heard an opinion for and against. >>> increased fire danger forced the closure of alan rot park. today's decision to shut down the park has to do with the strain on the mt. diablo fire. the city says conditions will be assessed everyday and that closures could extend throughout the week. >>> at least today the temperatures came way down and bill that is certainly good news. >> they came down a lot. numbers were down 10 to 15 degrees. we had 100-degree temperatures yesterday. today we were in the upper 80s. here is the satellite loop. you can see the fog present along the coast and it really pushed in last night. you know it's going to push inland tonight. it's in oakland, berkeley

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

the >> new this morning alcoa, hp, bank of america to be dropped from dow.an sachs, visa, nike will be added. >> these three companies dropped and these companies were added. we will talk with rob black about this coming up. >> all so right now the very latest with the fire that is burning on mt. diablo in contra costa county. this is video from our helicopter partnership with abc 7 news. the blaze is growing this morning as more people are forced to leave their homes. the fire has burned more than 3,700 a. that is nearly six square miles. >> kron4 will tran is live in dublin at the command center there with the latest. >> the firefighters just got done with their briefing and these are new numbers. they just told me 45 percent containment. they told us and that it was actually down and now is just about 3,200 a.. it went down because they were able to look at the ground and they stated that the numbers were bigger than what they actually had. here is a shot from our camera. they are still to learn everything at it. we have a few hundred firefighters more re