amd gets my attention today.ot necessarily the case anymore. we'll see what happen this afternoon. let's get back to headquarters. scott wapner and "the halftime." >>> carl, thanks. welcome to the halftime show. four hours to go until the close. there's the big day on the street right on the wall. the dow is good for just about 1%. s & p, nasdaq higher as well today. on the half gold game changer after being left for dead. is the precious metal about to shine? yum or yuk? what happened when two traders are on opposite side of a stock debate. first our top story, federal reverse. the dow reaching a new record today after ben bernanke tells

we to go through all the notes on it but i love amd. i think the company with this move into the game market, if you think about it, who here is using a 7 to 8-year-old smart phone or pc? the answer is nobody but you have new game systems from microsoft and sony coming out in the fourth quarter. that can be a $2 billion revenue business for them. the company only does $4 billion run rate in their pc business. this quarter you have to transition. they guided gross margins to 36%. i don't know if you noticed that. for whatever reason the analysts -- well, i know why. the analysts weren't doing the work. so they didn't model in the fact that you have got the game business at 20 something% gross margins. the estimates are going to go up tomorrow but you're going to have to go through a adjustment period and the stock is continue to work up and has a good chance of doubling over the next two to three years. >> dan, thanks to have you with us. thanks for your time. dan niles. just to recap, dan negatively positioned on both microsoft and goog

i think that amd can go to five, and therefore own it. jim in illinois?: jim, enjoy the show very much. >> thank you. >> caller: sir, i was wondering about navistar. >> navistar is one of those situations, sure, maybe they get it together, but then cummings goes to 120. the reason you buy cummins is because of problems at navistar and that, ladies and gentlemen, is the conclusion of the "lightning round." >> the "lightning round" is sponsored by t.d. ameritrade. >>> coming up -- time to clock in? half a million businesses across the country rely on paychex to get wages to the workers. but can this payroll player help your portfolio bring home the bacon? cramer gets the real read on jobs in america and takes the pulse of the economy when he talks to its ceo. [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ a friend under water is something completel

i think that amd can go to five, and therefore own it. jim in illinois?very much. >> thank you. >> caller: sir, i was wondering about navistar. >> navistar is one of the situation, sure, maybe they get it together, but then cummings goes to 120. the reason you buy cummings is because of problems at navistar and that, ladies and gentlemen, is the conclusion of the "lightning round." >> the "lightning round" is sponsored by t.d. ameritrade. >>> coming up -- time to clock in? half a million businesses across the country rely on paychex to get wages to the workers. but can this payroll player help your portfolio bring home the bacon? cramer gets the real read on jobs in america and takes the pulse of the economy when he talks to its ceo. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. [ whirring ] [ dog barks

investors traded amd at nine times normal volume driving the price up nearly 12%. the stock closed at $4.45. >>> the sell gene reports the lynch pen cancer drug slowed cancer in a trial. they are looking to broaden the use to increase sales and says it will talk with u.s. and european regulators about those test results. celgnen closed at $134.92, more than doubled in a year. >>> jp morgan says the sale of assets will unlock up to $4 billion in value. shares gained about 3 1/4%. >>> growing demand for new phones sparked a virgining market for copy cat hand sets and seems like china where so many of the gad lets sold are made is also ground zero for the knock offs. >> reporter: this is what the chinese authorities don't want you to see, open selling of counter fit goods. >> this is not an apple. it's not an american made product, so where is your iphone? iq phone. >> reporter: the i clone designed assembled in china. like the ones at this electronic supermarket in beijing feed the perception china gains a system with counter fits and currency control. in june the u.

. - topic 2: tech talk - which is the better company to buy here: amd - applied materials - or hewlett-packard? - i can't believe i am going to say this on air again: hewlett- packard. there are actually turning it around. i like to buy stocks when they're headed in the right direction: bottom left to the top right- - could you play the tape where you said about six months ago, you said they were going out of business. - i said that about best buy, too. i would never short best buy because they would be taken over for a private equity deal. hewlett-packard is the same way. they are turning things around. i still don't know what they actually sell or what products you would actually buy- - the story for these three stocks was these are the stocks that are the worst at spending, research and development. so, looking at this, that's usually not a positive sign, but, technically, some of these stocks - advanced micro could go from $4 to $5, but i like applied materials. applied materials technically looks like it could have about a 30% move from here. hewlett-packard has more than doubled, so i am

amd wendy's. activists say that hundreds of workers had walked off their jobs.are demanding a minimum wage increase in calling for better benefits. the national fast food for a campaign is organizing the demonstrations. spokesman with the burger king and wendy's both said that they respect the rights of their workers. >> it has been day #2 of a preliminary hearing in harrisburg, pa., that will determine whether there's enough evidence to bring to trial three former penn state officials in the jerry sandusky child abuse case. former penn state president gramm spanier, retired vice president gary schultz and ex athletic director tim curley are accused of selling to tell police about the allegations again sandusky, and then try to hide what they knew. sandusky was convicted of 45 counts of child molestation last june and is serving 30-60 years in prison. >> a people, including three children, were injured after an explosion shook the south philadelphia neighborhood over the weekend. take a look at this video. one home was destroyed in two others look at this video.

. >> stocks fell today and your bloomberg silicon valley index up today led by shares of intertell, amd and apple. spotify is wrapping up a global fight against pandora applying for licenses in a number of unnamed countries. it's already in hong kong, so far available in 28 countries and regions expanding faster globally than pandora. pandora still has more users. >> fashion designer michael kors suing costco accusing the warehouse giant of falsely advertising a half price mother's day sale on hand bags the problem is that cost could doesn't sell michael kors bags. they didn't final purses on shelves. business reporter says it could be risking its relationship with luxury brands. >> if michael kors going to be publicizing costco is a low end brand they don't want to be associated with that could affect other brand who's want to be in costco. >> costo counter sued saying tiffany is a generic term to describe a type of setting. >> an ordinary fishing trip turned into a heart pumping adventure for one man. last friday he spotted an endangered whale struggling to swim about 50 miles off of

. >> amd. >> the biggest volume day iners i don't.ee a continuation to me on a technical basis. it broke the $4 level. our friend dan niles, this is one of his top picks. he likes the move into gaming con suls. >> pop for pitny bows, pete. >> short interest in this name. no real news to speak of. i think this stock could potentially continue to rally in earnings. i believe their report on the 30th of july. i don't love the buzz l business they're in but the stock is sort of interesting. >> pop on new mont. >> it has room to go here and it's down 35% on the year but it's only 15% up from its low. >> a pop for the panda cow. one innovator saying move over to the conventional cow. after 7 years of trying he created the miniature bovine that bears resemblance with the giant panda. he says he'll put the cow up for sale when the right price comes along. >> when you said it took 7 years of trying what do you mean by that? >> i guess it didn't come out looking like the panda. >> what did it require farmer john to do? >> i don't want to know.

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google, amd and safeway will all do so on thursday. >>> one of the only people to face charges in the debacle that nearly took down the american economy is going to trial this morning. fabris tour was an executive at goldman sachs. here he is testifying before congress. he called himself the fabulous fab. others have called him the poster boy of economic collapse. while at goldman sachs, he is accused of creating financial instruments he and the company knew were toxic. they were actually designed to fail, according to prosecutors. in e-mails, tour made fun of, quote, widows and orphans who bought those financial instruments on goldman sachs' advice. laura and marla, goldman sachs settled these charges without admitting guilt but for a fine of half a billion dollars. tour's trial should begin any minute now. >>> rob mayeda is in. just a few gusts of wind today. >> we've been seeing it along with low clouds in san francisco, but all the way into fairfield and livermore, you could be waking up to some low clouds, and that's the reason why your afternoon temperatures will be running a li

amd getting hid now down 14%. microsoft is falling by nearly 10%. and google is down by 3.5%.promises to be a rough day as it continues. michelle and frank, back to you. >> you are just full of good news, jason. >> reporter: canada be a winner all the time, huh? >> have a great weekend. >> and it's friday, though. that's always good. >>> if you are looking to buy a home in the bay area take a deep breath. prices have jumped in all nine counties. in just 12 months, the median home price paid for a bay area home rose some 33%. that is the fastest pace on record. experts say fewer bank-owned properties and improving economy and mortgage rates that remain low contribute to the jump but a change is coming with interest rates creeping on up. >> i have seen more hopes staying on the market longer over the last four to five weeks and i have also seen -- and i have also seen more price reductions from sellers. >> that said though offering big wads of cash to trump other offers is still common. but with more inventory and less competition, there's less of a need for buyers to use all th

i bought amd last week at $456 and held on to it and didn't sell it, it's at $363 right now.should i do? >> well, if you bought it, you bought it for the fourth quarter when they ship all these game consoles, i think you should buy more. let's go to dave in north carolina. dave? >> boo-yah, jim. >> boo-yah, dave. >> caller: boo-yah, jim, this is dave from north carolina. >> hi, how are you? >> caller: good. my question to you is, first off, thank you for all you do, and my son watches you every night now with me, he's learning stocks. >> excellent. >> caller: yes, sir. my question to you is last week i bought the ipo retailmenot. i got into the ipo and sold some. do you recommend before i buy some more? >> no, no, no. that was terrific. let's go to mohan in new york. >> caller: hi, jimmy. boo-yah. >> boo-yah to you. >> caller: love your show, man. my question today is on isis pharma. >> it got ahead of itself. should have rang the register on it then, i like it but we did get the win and it's time to move on. andre in california. >> caller: i'm a young investor. you're a huge

tablet market and the processes are currently in the wii u, will be in the xbox, the play station, could amdound the balance sheet? >> yeah, i've been recommending it. >> buy, buy, buy! >> let's go to mike in florida. mike? mike? >> caller: jim. >> mike. >> caller: boo-yah from florida state. this is mike. >> fsu! 'noles rock. >> caller: gators stink. exactly. so it's summertime here and everybody's playing video games. so my question is activision and video games stuff. >> no, i think they should get off their butts and go to work. it's finally doing all right. and you know what, i've been recommending microsoft on the xbox and that's actually been much better. let's go to juan in florida. juan? >> caller: boo-yah, mr. cramer. >> boo-yah. >> caller: my thing is accomplished a great deal through tesla. >> goldman put out a really bad note today which basically said even in a bull case it doesn't deserve to trade above the teens. i've been saying, you know, first i kept you out of tesla for the first few years, that was good, when it started rallying, i liked it, but i said it's a cult stock,

intel, the personal computer market newly reinvigorated amd will come underneath them. worries about the internet drove google's earnings below what the street was looking for. then there's apple where everyone has gotten so used to the way competition has squeezed its business and its margins that the company reported better than expected revenue tonight with the earnings and revenue coming in above the analysts were looking for causing the stock to roar in after hours traders. but make no mistake about it, this quarter is a testament to the power of lowered expectations. yes. you see, including estimates that were slashed this very week that we're in retrospect wrong to do as apple is simply making a lot less money than it was a year ago. yahoo. it finally went up. how important is it that companies avoid competition wherever it can be found? look no further than what fell off my desk. look no further than -- oh. alas, poor yorick. look no further than dupont, which today announced a gigantic restructuring. huge. what's happened here? ceo alan coleman wants to get out

in addition amd was citing the weakp pc sector.uptcy in u.s. history. the city of detroit going broke. rick snyder will be here to tell us what could happen next. >>> it's a blowout quarter for bla blackstone. tony james will join us to explain where the firm is investing next. >>> plus, a cowl forall for a 1 correction. >>> google shares lower citing weakening ad prices. can the motox help turn the company around? dennis, good morning to you. >> good morning, carl. >> you're wearing a tie. gutsy. >> that's what we do here at the exchange. you should try it sometime. >> i know. >> did they get smacked around too much last night? >> well, i mean, the proof is in the pudding right now. the stock is down 2%. i think that's a pretty good result. remember, of course, that this stock, carl, was at $600 at the beginning of the year. it's had a great run. perhaps good that the price targets have come off. i think google is much better situated than many other companies when you think about platform, when you think about devices, android, c

looking at the chart of the tech charts, not performing, misses on microsoft and google, disappoints, and amdg on their latest results. does that not concern you? >> well, it does to an extent, but just because we like the sector, that doesn't mean we like every name in the sector. there's names in technology that really are no longer cutting edge, and in that respect, they may not represent the best opportunities. we're -- we see ourselves as stock pickers, picking tte best in a sector that we think is better for that kind of selection. >> fair enough. what about financials overall being a good earnings season? >> well, it has been, and we think the financials are going to benefit going forward because a lot of their assets are going to be revised upward. the improvements in the real estate market are improving debt that has been underwater for a long time. that acues to the earnings numbers, accruing to the attractiveness in general. there's opportunities there, and they are effectively very economically sensitive in this environment. >> how do you see the overall economy, milton? you're an

the sun visor in my car and feel .un visor in my car and feel pproromdinally, a differ i h me if i amd recommendation, stay at home. or get ducis to work and put devon to work. >> put devon to work. man, he's 1. he's free loading. >> devon need to start vacuuming. ducis. chore ch let's >> you wor duc no reason why ducis shouldn't be helping out with the dishes. you both work. >> is he good that way? >> he helps with everything. >> von,s frk >>> that's our news for this half hour. don't miss uc wnnfa and on twitter, @abcwnn and use >>> making news in america this morning -- evidence of espionage. an army private accused in the biggest-ever security leak will be back in court today as the judge decides his fate. we're live in washington, with the latest. >>> more drama from the anthony weiner camp. this time, the attention surrounds his spokesperson, as the mayoral candidate releases a new campaign ad. >>> and source revealed. this morning, health officials are sounding the alarm after the cause of a nasty stomach bug is believed to be discovered. >>> and escape artist. the drastic attem

amd offered upbeat revenue forecasts and expands into new game consoles, but the shares fell in afterours trading. this is one where you say, use the percentage, they were down 25 cents, but down 5%. gross margins will fall as it seeks a foot hold in game consoles. a number of other stocks that we're going to watch this morning. we'll get to them in a few minutes. first, though, one of the stories that every newspaper has as the lead and that is bankruptcy in detroit. how much money? >> $18 billion. >> and it is not going to be restructured. the obama administration, won't be like gm or chrysler, this is going to -- you're on your own. >> these are some significant numbers, detroit is the largest u.s. city ever to declare bankruptcy, the city's emergency manager kevyn orr on the kudlow report last night. >> this is a problem that has been more than 60 years in the making. there is $18 billion of debt total. even if we took $200 million a year out of a $1 billion budget, which we can't do because we shut down every pothole, another street of know or anything else, it would take 68 year

zielink is responding to an upgrade after amd. >> all these telco companies. a joke anymore. we know sprint's going to have all this capital. suddenly all these companies -- zeilink -- and the ceo is a fantastic guy -- he's going to tell you, if you want that high-speed video on your cell phone, you need zylinks. not everybody has that. when you cece enthat up, that's a wave of spending that's not att and verizon. that's t-mobile and sprint. i think people think sprint's going to spend a fortune. >> they're already actually changing their pricing plan. the stock is up -- this is the stub -- the stock is up 2.4%. remember, softbank now controls sprint. it ended up being, what, 80%, right? but this morning or yesterday, they announced a plan to roll out a new pricing plan, unlimited -- >> it's going to be a price war. >> yeah. >> unlimited data, excuse me. >> verizon's only a few points off its high. no one seems to believe there will be a price war. at the same time, verizon, they're on the hook for how many iphones? >> yeah, craig moffitt's known from a couple