and, hewlett packard could cut an additional16,000 jobs-- the tech company is already slated to slice 34,000. hpq also reported an earnings forecast that fell shy of analst views. and our trader talk on this friday morning, james ramelli of keene of the market.com joins us and james... it's going to be an interesting trade today-- the market is closed on mondays. so what will be your trade of the day? > > my trade of the day might be no trade. this has been a very interesting week for the stock market. we've seen some really bullish price action but that action has been on very little volume. we've had one of our lowest volume days of the entire year this week, and while the market continues to head higher, i don't necessarily trust it at these levels. what we're seeing is very light volume in the options markets as well which tells me one of two things: either options traders have already gone on vacation or they don't believe in this rally. either way i think that the market is going to be very choppy going through the rest of today. we don't have any economic data to speak of excep

we'll get results from target, best buy, gap and hewlett-packard. wednesday, the federal reserve will release its minutes from the open committee meeting. the 9/11 museum in new york will be open to the public and your favorite hbo shows will be available on amazon prime in an exclusive licensing deal. on thursday, existing home sales for april are due. also on thursday, facebook will hold its annual shareholders meeting and on friday, new home sales for april. >>> sometimes, asking a simple question does not lead to a simple answer. actor and science enthusiast, alan alda, is here to discuss his new role as founder of the flame challenge, where scientists attempt to answer questions and are judged by thousands of 11-year-olds. it's great to see you. i am so enthusiastic about this project of yours. one, because i have young children who are almost 11, so, tell me about the flame hall and one of the questions this year is what is color. >> it is the question that we've asked scientists to explain to kids, about 11 years old, in a way that the kids ca

hewlett-packard trading at 33 and change, up almost 6%. 000 jobs as part of its restructuring plan. hewlett-packard posting earnings yesterday, and here's ceo meg whitman talking about the cuts in an exclusive interview this morning. >> so while no one likes to reduce the workforce, this will be good for our customers, and it will be good for hewlett-packard. it will make us a stronger company. and obviously, you know, we will be able to create capacity to invest in the growth engines of this company. >> jon, why are the shares rallying? is it something meg said? >> well, i think, maybe. but it's also a testament to how undervalued hp has been over the past couple of years. keep in mind, even at these levels, it's at about a

ora cell and hewlett-packard. ebay and yahoo made the list as did twitter for the first time. if you host money on wall street yesterday, you might have made it back today. nasdaq went up as well. and fourth quarter earnings most say it could have been worse. >> it's very expensive place to work. >> a lot with the median price of a home now approach lg a million dollars we set out to find what a pillin dollars will get you in other parts of the country. san francisco housing market is on fire. would you pay nearly a million dollars for this four bedroom two bath fixer upper? how about dropping a million for this 960 square foot two bed, one bath condo in mission bay? someone did. >> it's on the market for $999,000. about a million dollars. >> we asked this broker to show us a typical home in san francisco. >> living room, dining room area. >> this home sold in just seven days. the median price averaged just over a million dollars since the beginning of the year. a condo won't cost much less. >> we wanted to find out what you can get so looked up million dollar listings nationw

and barriers to entry. liz: i need to interrupt you, but it appears by accident i i don't know why hewlett-packard has released market never likes surprises and we are getting details, but you can see hewlett-packard a dow component has began to drop precipitously. right now it's losing about one half, that's not rather precipitately i over substrate come again, mark. 27.3billion on revenue versus 27.41, which was the expectation, so slight miss for the revenue. we will get more and hewlett-packard in a moment, but we will keep that up as you continue to say what you look for in a stock. >> long price earnings, rising revenues, increasing profit ability, high barriers to entry and generally perhaps something that has been out of favor for a while and has been oversold and under owned and when those kinds of stocks turn they turn with a vengeance generally and it's-- liz: that works perfectly with your whole airline and you have a new airline for those of you who missed the delta airlines move you also like united continental. >>> united at a disappointing quarter recently. they had tremendous cancellations in

ora cell and hewlett-packard. ebay and yahoo made the list as did twitter for the first time.f you host money on wall street yesterday, you might have made it back today. nasdaq went up as well. and fourth quarter earnings most say it could have been worse. >> it's very expensive place to work. >> a lot with the median price of a home now approach lg a million dollars we set out to find what a pillin dollars will get you in other parts of the country. san francisco housing market is on fire. would you pay nearly a million dollars for this four bedroom two bath fixer upper? how about dropping a million for this 960 square foot two bed, one bath condo in mission bay? someone did. >> it's on the market for $999,000. about a million dollars. >> we asked this broker to show us a typical home in san francisco. >> living room, dining room area. >> this home sold in just seven days. the median price averaged just over a million dollars since the beginning of the year. a condo won't cost much less. >> we wanted to find out what you can get so looked up million dollar listings nationwid

. >>> and hewlett-packard plans to cut another 16,000 jobs as part of ceo meg whitman's turn around plan round of cuts, hp will have chopped 50,000 jobs during whitman's restructuring. >>> just ahead, one of our country's most accomplished athletes gets cut from his team. >>> plus, the 9/nhl playoffs an all the rest of the sports highlights next. oh! the name your price tool! you tell them how much you want to pay, and they help you find a policy that fits your budget. i told you to wear something comfortable! this is a polyester blend! whoa! uh...little help? i got you! unh! it's so beautiful! man: should we call security? no, this is just getting good. the name your price tool, still only from progressive. when you find the one... you just know. new almay smart shade makeup made it easy with just three skintone-adjusting shades to choose from... not hundreds. new almay tonemimic technology intuitively transforms to your skintone. it's my one... and only. almay. still running in the morning? yeah. getting your vegetables every day? when i can. [ bop ] [ male announcer ] could've had a v

then you end up like microsoft and cisco and hewlett-packard.a gaggle of these companies that don't know what to do. your lunch is getting eaten. kudos to zuckerberg for having the courage to do that. that's a me as a little bit of a head scratcher. i think it makes a lot of sense for gamers. is it worth $2 billion? i have no idea. the real question is does it matter when we are talking about a nominal amount of the lucia. it is a reasonable negligible right off. is it thatly facebook will continue to be the dominant social network? facebook be the dominant thing it. a lot of things that you see in places like china and japan will get brought over to the rest of the world. there will be this massive platform that enables all. that'll keep facebook relevant for another decade. snapchat is a teen oriented product. google is buying a lot of robotic companies. >> google has a different proposition. they're going to organize all the world's information. generatedn is getting in all these different places. they are unlocking it. you are buying situati

directly in competition with their original equipment manufacturer, companies like dell and lenovo and hewlett packardo whom they are selling their windows product to. >> we are not interested in when itg with our oen's comes to hardware. our goal is to create new categories and spark new demand for our entire ecosystem. that is what inspires us and motivates us with what we are doing in our devices and hardware. >> they might not be interested in competing with their oem's but with this device as the anti-laptop, they are competing with their oem's. we will keep an eye out. >> you got to play with it. will people want to replace their laptops with it? >> is an interesting device. i see people more and more using their tablets as a replacement for the laptop already. i talked to an analyst who has covered for microsoft and he says while the oem's might complain, they recognize this thing has such a small market share it is not really hurting them. selling a couple of million per year starts to add up to something. microsoft pitching this as a productivity device that uses all the other microsoft softw

forecasts, shares fell slightly in late trading after sliding 2 and a half percent during today's session. now, more on hewlett-packard's results and the one big takeaway you see from these numbers. >>> yeah, they keep talking about the fact the turnaround is still on track, but the bottom line it still has so much further to go. pretty much everything we've seen in this quarter is what we've heard from hewlett-packard over and over again. they're cutting jobs and streamlining their system. the bottom line is they're cutting revenue, if you dig into the numbers every single one of hp's biggest divisions actually lost sales except for one. that is really scary especially when you think about the enterprise part of the business. cisco and hp raised their sales and it really shows the turn around is still struggling. >>> all right, thank you sheila for coming by. >>> stocks end with the major numbers closing up. stocks got help from good news about manufacturing over in china and here at home and improved earnings from some big retailers like best buy and dollar tree. and even though first time jobless claims rose last wee

they list 80 of her most significant corporate partners including at&t and hewlett-packard and oracle, essentially, the leading companies of the technological world. there are lots of documents that detail how the purpose of the spying system is not to detect terrorist plots were national security plots, but inrwhelmingly economic nature. they spy on the u.n. and oil companies and corporations. there spying on behalf of department of commerce. one of the biggest stories that is new in the book is this program that really is quite remarkable, which is all over the world, people buy routers and switches and servers, which are the devices that let corporations or municipalities or villages provide internet service to large numbers of people at once. hundreds or even thousands. there are american companies that are leaders in these products such as cisco. what the nsa will do whatever it decides it wants to, want some of the orders a product from cisco, cisco ships it to that person. the nsa physically intercept the package, takes it from fedex or from the u.s. mail service, brings it bac

. >>> and hewlett-packard is spiking today. up 21% this year, some called it dead tech. now, one of our traders, though, he saw this coming and he'll defend his position, and perhaps take a victory lap next. >>> we're headed to the beach to get the traders' summer survival stocks. wait until you hear what these guys say they need to beat the heat. that and much more straight ahead. but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running. i got more advice than i knew what to do with. what i needed was information i could trust on how to take care of me and my baby. luckily, unitedhealthcare has a simple program that helps moms stay on track with their doctors and get the right care and guidance-before and after the baby is born. simple is good right now. (an

the autos, the major all-buying tech companies like microsoft, intel, oracle and hewlett-packard are ing at price to earnings multiples that are well, well, well below the historical norms. only the utilities in the real estate investment trusts are versus long-term benchmarks and they're functioning as bondses here and after the big interest rate declines i think they make sense otherwise they would be where the bubble was. the airlines, i know i've been recommending them for two years now, but you know what? even after these, you know they're incredibly cheap. you know that my favorite, american sells at six times next year's earnings estimates. that's wrong. the rest of the transport seem expensive and any pickup in the economy from improving weather justifies the rally hence what you've seen in ups. plus, let's remember that we've seen dividend boosts galore which raises the bar for the asset classes and an executive is unhappy with his stock or her stock can can always break out the company and bring up value. that's become an every-week occurrence, too, hasn't it? why bother to

i love microsoft for their cloud exposure and hewlett-packard as well. not having a very good day today. i like this name. trades at a much eyer pe. >> two boring names, emc and you could look at sap, both leaders, been there for many years. >> boring as the new exciting. >> i think boring seems to be the new exciting. >> it has been. >> security software, cloud type names, palo alto networks in my playbook that i had for a while. panw. keep your eye on checkpoint. checkpoint might be turning around. >> med da data, stock has gotten crushed. down 50%. recovered somewhat. particularly with the pfizer deal falling apart. what they do is the cloud based research so companies hire them, put all their research in cloud. makes a much more cooperative among their employees. i think it's a great story. 2 billion mark cap. >> long it? >> i am long it. >> interesting that guy looks like he's 20 years old. it's his sixth start-up. they have a valuation of just around $10 billion. >> not so bad. >> bop peck of suntrust is going to be back later. it just makes you thi

i sold my amazon, bank of america, my abercrombie and my hewlett packard and wound up lick question dating my call come as well. >> why today? >> yesterday they bought everything across the board. i don't know if they had any conviction whether it was buying back the bubble stocks, buying the value stocks. for me, i think i would rather lock in. if i'm right, i buy 1800 and below. >> so you're sitting on cash right now. would you be looking to enter the same positions but at lower levels or looking elsewhere? >> bank of america, i love the stock long term. but as far as -- it's lost its momentum coming outs of a stress test. i will tell you and i know we talk about mo-mo names. if we look at tesla, the way it bounced off that 200 day, that was pretty impressive to me. oddly enough, i held my twitter trade. >> steve, thanks for phoning in. steve grasso selling a lot of positions in today's action. did he make the right move? >> the abercrombie and fitch is interesting. we pushed down the levels we last saw in the middle of 2012. it bounced. they have thrown everything possible at the stock

residents include many of silicon valley's movers and shakers, including hewlett-packard's meg whitman and sheryl sandberg. more outsiders want in on that community. >> reporter: it's hard to see the multimillion dollar mansions behind the huge gates and down the long driveways, but they're there, and for sale. i went to the real estate website trulia and found homes on the market for $7 million, $10 million, $17 million, and even $25 million. >> those houses would be about 10,000 square feet, typically three levels with full basements, media roomsz, exercise rooms, et cetera. guest houses oftentimes and pools. >> reporter: tom lemieux says the buyers are everyone from local tech entrepreneurs to people from overseas, particularly asia. >> we have a market here with high demand, low supply. of course we are the center of technology. the tech sector is doing well. we are just a center of innovation here, and so that more than anything drives our housing market. >> reporter: what also makes atherton so appealing is the privacy. the acres of flat land and location. it's in the heart of si

hewlett-packard trading at 33 and change, up almost 6%. the company said it would eliminate between 11,000 and 16,000 jobs as part of its restructuring plan. hewlett-packard posting earnings yesterday, and here's ceo meg whitman talking about the cuts in an exclusive interview this morning. >> so while no one likes to reduce the workforce, this will be good for our customers, and it will be good for hewlett-packard. it will make us a stronger company. and obviously, you know, we will be able to create capacity to invest in the growth engines of this company. >> jon, why are the shares rallying? is it something meg said? >> well, i think, maybe. but it's also a testament to how undervalued hp has been over the past couple of years. keep in mind, even at these levels, it's at about a $65 billion record cap, expected to do $111 billion in revenue for the fiscal year. cash flow from the p.c. business still strong. that business up 7% year over year when a lot of people had given it up. now, it's not growing, but it's still throwing off a lot of

established names like cisco and hewlett-packard and oracle have been outperforming the so-called newology but are those winds about to shift? soma mody has the details for us. >> that's right. no question that so far this year the older value-oriented dividend -- paying names are winning the race, but s&p capital iq is calling this a crowded trade. scott kesler, the analyst there, says move of the growth for these old-school names is coming from acquisitions. that might not be seen as risky, but this increases the likelihood of earnings variability and inconsistency, but, you know, pacific crest disagrees citing the cyclical rebound in the market being a catalyst for electricity names going forward. on to new techniques, these stocks have been under pressure and some analysts say given the big drop in stock prices valuations, forward price-to-earnings ratios, are more attractive than they were earlier this year. in fact just today twitter was upgraded to buy saying this year's drop in the stock price have resulted in a much more favorable risk/reward ratio. if you're trying to get ba

the deputy defense minister says border troops will be gone within days. >>> and hewlett-packard may 16,000 more jobs. >>> and thailand's 18th coup in just over 82 years. >>> it is memorial day weekend and the unofficial start to the summer in the united states. many americans taking advantage of the long weekend by firing up the backyard barbecue. but there's a warning. rising food prices could be fairly hard to stomach this year. what on earth is going on? seema mmody. >> memorial day celebrations may come with a heftier price tag. meat prices rose 5.2%, led by a more than 7% spike in beef, the biggest jump in any category. the american restaurant association says retail beef prices were up 11% in april, year over year to a record high. in the northeast, the usda says prices for boneless ribeye steaks, one of the most popular cuts are ranging between $8 to $12 a pound. the biggest reason for the increase, u.s. cad cattle herds at the lowest inventory. texas is in a drought while california is also suffering from a record drought of its own. it takes 18 months for a calf to be market

. >>> and on the "cbs moneywatch" now, deep job cuts at hewlett-packard and facebook revamps privacy settings. jill wagner is at the new york stock exchange with that and more. good morning, jill. >> good morning, anne-marie. asian markets were higher. tokyo's nikkei gained nearly 1% and hit a one-month high. hong kong's hang seng was flat. >>> positive news on the economy and housing market droesh wall street stocks higher for a second consecutive day. the dow finished 10 points higher on thursday. the nasdaq was up 20 points. >>> hulett packard will cut an additional 11,000 to 20,000 jobs by october, far more than expected. the total would be about 50 thousand making it the largest payroll reduction in hp's 35 years. hewlett-packard has been struggling. additional cuts are not expected. >>> president obama is expected to nominate san antonio, texas, mayor julian castro as secretary of the department of housing and urban development today. castro is a rising star in the democratic party. he'll replace shaun donovan who's expected to run the budget office. >>> toyota announced a mass

so that helps hewlett-packard and what you've been seeing a lot in terms of numbers lately and earnings releases has been forward guidance going forward is better and one other thing that's been helping the market along in addition to the home sales which has been a drag of late, is the early year numbers seem to have been affected by weather. more and more firms are saying that that's not the case right now, we do have a lot of economic data coming out in the next two weeks that will give us a better confirmation, but i think it's just the economy being better is helping us. > > so investors are really looking for better managed companies and indicators of that? > > absolutely you always want to see a solid company and if they're making money in the lean times in terms of what they have been experiencing, should the economy pick up and i do believe it is, then they'll be quite profitable going down the line. > > dan stecich, thanks so much. > > you're very welcome i enjoyed it. diane moca steps in now with a look at a startup that's reportedly in the fast lane for funding. good morning

and how does hewlett-packard make money off of this? > and the question is who controls the information. whether is the individuals, the government. >> i think we have time for one more question. i want to remind all participants that this meeting has been on the record. everything you said will be used against you in a court of law. in a white jacket. i am with the johns hopkins applied physics lab. i wondered if you could talk about the educational policymakers on the state of policy. scientistscation of on the state of policy. >> i am less interested in regulation that i am an ethics. we are at this stage, this point in history, where we can do just about anything with material science. when you can do anything, the question is what you should do. that is the core question of ethics. it isoptimistic moments, because i am seeing more people asking, given the opportunity to do anything, what should we do? that is why i'm glad to see government entities like the navy or the foreign-policy establishment asking more should questions. if yo

and 1960's, made famous by bridget bardot. sergio marchionne is looking to scale back production. hewlett-packard sputtering. road ahead for meg whitman. ♪ a classicdbye to italian car. blame chrysler. this is lancia. withar was once synonymous brigitte bardot and the french riviera. head to head with jaguar and maserati. richard gere appeared in its commercial in recent years. 's ceo sergio marchionne has decided to reduce the lancia brand to a single model. no appeal outside italy. sergio marchionne is trying to boost profit by expanding alfa romeo and maserati models. just 75,000 cars in 2013. not a big deal for a company that hopes to be selling 7 million vehicles a year. 56 minutes past the hour, bloomberg is "on the markets." equity futures slightly higher. we will be getting new home sales out at 10:00 a.m. in about an hour's time. watching stocks, hewlett-packard after the job cuts. hp has suffered 11 straight quarters of declining sales. preparing for massive layoffs. what is behind their struggles and where is the next opportunity? ♪ >> we are 30 minutes away from the opening bell. you are "in the

when you don't have a lot of earnings and you do -- i think that, you know, i think this year was summed up by hewlett-packardyou have a 330 release by surprise. people look at the headlines and say hewlett-packard looks like it's not coming together. looks like the pcs aren't doing well. then meg whitman comes on our show, i did not see anything else that occurred, goes and tells a very positive story, convinces people you know what, it's not nearly as bad as you think, next thing you know you have the number one performer in the s&p 500. >> that was -- that was surprising in a way friday. i don't know -- >> reassuring. >> i don't know if people were misreading the afterhours movement which might have been based on small volume. i don't want to ascribe too much significance to our interview. the only thing out there. >> people were saying what happened, what went up? what occurred? and i go back over the interview and -- with david, correctly, i thought, tried to poke some holes in the story and the story was iron clad. layoffs, coupled with a little revenue growth is going to produce some pretty good levera

and new york shriver, carolyn ryan, and carly fiorina, former ceo of hewlett-packard are here to share their views. >>> and the growing scandal of the va. is the government failing to give american veterans the care they were promised? va secretary eric shinseki says he's mad as hell about what's been uncovered, but that isn't stopping calls for him to resign. what reforms are needed to ensure this never happens again? >>> from nbc news in washington, the world's longest running television program, this is "meet the press" with david gregory. >> and good sunday morning. we'll begin with the story that's been dominating much of the political conversation all week long and that's karl rove's attack on hillary clinton. is this just the start of a republican strategy to persuade her not to run? our own andrea mitchell is here with more on this. good morning. >> good morning to you, david. this week there is no longer any doubt that some powerful republicans are playing hardball against hillary clinton raising questions about her age and her health, even before she decides whether she's a c

and if you switch, you could save up to $423. liberty mutual insurance -- responsibility. what's your policy? >>> we've been waiting for earnings from hewlett-packardstock has suddenly started to move and we're getting indications that they may have inadvertently released the data on their website. >> we were expecting this earnings report after today's closing bell but on hp's website they have reported their fiscal 2014 second quarter results. head lynn numbers are 88 cents. that matches analysts estimates. revenue coming in $27.3 billion. that's down 1% from the prior period last year. it also narrowly misses the average analyst estimate of $27.4 billion. they also go on to say that they return $1.1 billion to shareholder in the form of dividends and share with purchases during the quarter. so again, a revenue slight miss, an earnings match. you can see the shares which were positive today have moved just off session lows down about 2.25%, 2.5% to the downside. earnings for now have met expectations. sales slight miss. they bought back $1.1 billion worth of stock or returned it in terms of dividends in that second quarter. guys, back over to you

and buy protective puts. in terms of what is in the news today, we are looking at hewlett-packard.ading higher after the ceo announced plans to cut up to 16,000 more jobs. the stock overall is higher, what do we see in the options market? >> we're seeing a big spike in hp options volume, and calls are trading over puts. maybe the company will stabilize a little bit after cutting these jobs, but meg whitman said that they are not expecting revenue growth this year at all. all of that call volume we are seeing looks like closing positions. it does not seem like any institutional money is coming in and putting on new longs. >> thank you. i also want to talk about a company that has earnings next week. retail has had a rough time recently, but we have conceded -- continued to see this barbell. do you think we're going to continue to see that with khors? >> we cite huge move higher in hasany, and khors rallied eight out of the eight past earnings. the option marketing is implying it can move higher by about seven dollars by next friday. that gives us an outside target of $102 which is j

my name is sara, and i work for hewlett-packard. my question is about the i.t. what can you say about the ability of the industry in terms of meeting peoples needs today and being ahead of the pack and where it's going and how does this fall into your vision of the future under the different scenarios? how helpful this industry, what else do you think? >> well i think the i.t. industry is absolutely crucial in the sense that, to, to talk about the scenarios, we are, you know, running into a lot of challenges between now and 2050, given population increase, that's inevitable. the move towards sustainability which we'll really going to need to have, and move away from the constant growth notion. i.t., the combination of a global network, smart objects, very intelligent software of say, ibm watson class that is able to look at a lot of data to come up with move novel solutions to solve problems i think is extremely helpful. in terms of the world i know analysts in the telecom industry who seriously say, by 2020, 2021, absolutely everyone on the planet could have a p

and new york shriver, carolyn ryan, and carly fiorina, former ceo of hewlett-packard are here to share>>> and the growing scandal of the va. is the government failing to give american veterans the care they were

and michelle. california-based hewlett- packard says it plans to cut as many as 16,000 more jobs by october. n top of the 34,000 that the company previously announced. the pc maker is working to cut costs and says the layoffs will save $1 billion a year. >>> today is the last day of trading before the long holiday weekend. yesterday stocks finished higher for a second consecutive day. dow up 10, nasdaq 22 up. we'll see if they can end today on a high note. >>> toyota is recalling 3 million vehicles including 370,000 siena minivans in cold weather states because road salt can cause the spare tire under the vehicle to fall off, 50,000 highlander and hybrid suvs because of a front airbag problem, and more than 10,000 lexus gs350 sedans because the brakes could activate without warning. >>> some good news if you are hitting the road this holiday weekend. don't expect sticker shock at the gas pump. for the third straight year the national average will be within a penny or two of $3.64 a gallon. the price in san francisco of course much higher about $4.25 a gallon. but analysts do expect gas prices

and we discussed best buy. we will have someone from hewlett-packard on gamestop. dent will be speaking at the baseball hall of fame. out ofe are some reports a deal that would shake up the tobacco industry. a quote into "the wall street journal," arnold's american is -- reynolds american is in talks to buy lorillard. the combined company would be number two. blackstone has created a new company to buy up apartment buildings. last year they bought up apartment properties valued at more than $2 billion. the head of the unit says that blackstone is concentrating on suburban areas where there is not as much new construction. carnival's cruise ships are going greener. they will spend up to $400 million on new exhaust winning systems for ships that would allow carnival to meet new air pollution standards for u.s. coastal waters. >> what a wonderful set of tests today. today.ts terrorism in china. present tension. han chinese have become more than a distraction. stephen roach, you are thinking about the sprawling cultural and he joinshina, us now. is western china unbalan

four clubs are under scrutiny including gianted who pays $765,000 in back pages and damages to employees. >> hewlett-packardcutting more job say h.p. will eliminate up to 16,000[h.ç1 so that will be a total of 50,000 job cuts since restructuring in 2012. h.p. is trying to lower costs and become more nimble. the palo alto-based company announced earnings on track with estimates but revenue was 1 percent lower-than-expected. >> gas prices have a familiar look a as the summer travel season is underway. here is america's money. >> good news for the holiday. stable gas stations, the price of gasoline is same as memorial day weekend last year but you may find the roads crowded. an better and more sizes abercromie abercromie & fitch and the gang of heroes hopes to take over the movie theaters with the 7th in a series with weekend grow projected to be $100 million for that movie. >>> a new video simulation captures the scale of the delta tunnel project. look at this, the water diversion tunnel that governor brown wants to build in the sacramento and saw joaquin delta so large that many policymakers and citizens ha

more quarterly results are expected today from the retail sector, best buy, gap and the technology giant hewlett-packardbe unveiling results after the bell. on the economic front we have the government releasing the weekly jobless claims report coming up at 8:30 a.m. eastern time. >>> and several high-profile shareholder meetings, mcdonald's, intel and facebook. that is today's "squawk" planner. >>> should the markets expect hard times for technology hardware? we have a preview of hewlett-packard's quarterly results and a review of meg whitman's turnaround strategy. "squawk" will be right back. entl you outlive your money? uhhh. no, that can't happen. that's the thing, you don't know how long it has to last. everyone has retirement questions. so ameriprise created the exclusive.. confident retirement approach. now you and your ameripise advisor can get the real answers you need. well, knowing gives you confidence. start building your confident retirement today. carsthey're why we innovate. confident retirement today. they're who we protect. they're why we make life less complicated. it's about people. w

they say they're making progress and people are just not buying it. david: hewlett-packarde new york stock exchange. david: god bless them. liz: business leaders at the nasdaq. here is how stocks finish up as these numbers settle. 1900 for the s&p 500. david: made it, wow. liz: more importantly a record close. the previous record was 1897. we bested that. looking at nasdaq with a nice day up 3/4 of 1%. nice gain for the russell 2000. let's get ready for the holiday weekend of the "after the bell" starts right now. david: time to break down all of this week's big market action. we have lance roberts,sga wealth management chief strategist. he will tell what the market needs to break out of the

and he'll develop that out. i actually look over to ibm. i look to hewlett-packard and the big names that maybe are late, maybe they're slow, but they're getting themselves -- >> you don't go to seagate? >> i do love those names and the big data, analytics, that type of space. i love those names. specifically seagate because it hasn't participated the way western digital has, and it's trading as a discount. >> what's interesting is all the sectors aren't rally on rackspace news. none of them are participating in this rally. so it tells me it's short-covering on rackspace, and you want, to pete's point, go to quality where valuations are palatable. >> they did add thousands of new customers, rackspace did. [ overlapping speakers ] >> -- yeah, absolutely. i'm not as negative as what i feel like i'm hearing right now about rackspace at this level. >> you wouldn't run away -- >> i wouldn't run away from it, but i'd rather be in microsoft, which i am. >> ibm ceo sat down with david faber earlier today. here's what she said about the outlook for the company. >> i have unw

and that's a look at some of the top headlines at this hour. back to you. >> thank you very much. we noted earlier that hewlett-packard had quarterly results. what stands out to you in this hewlett-packard report? >> the job cuts certainly a big deal. terribly disruptive and horrible situation. but i was actually impressed by the fact that the company had a lot more profitability out of fallen revenues. revenues down for the 11th consecutive quarter on the year over year basis. but only down 1%. and profits, the net income dropped 18%. so that shows that they're getting a little bit more traction in the places they want to get it. albeit with fewer revenues. >> i was going to say, falling revenues, falling profits and they're slashing the work force. if you take away the word h.p. from that, you could apply that to companies and come out with a different -- you wouldn't have any kind of positive feeling, would you? >> i think that one of the things we see with the company is that they're having to contribute so much money to the debt payment that really it ties their hands on what they want to do, places they might want to grow out of it. th

and they got an earful tonight. >>> hewlett-packard announced today it is laying off between 11 and 16,000orkers. the palo alto based company says the cuts are part of a major restructuring plan. they did not say where in its worldwide operations those cut backs will take place. the company also reported revenue is down in the 2nd quarter. >>> 2 investigates the danger of lithium-ion batteries. the national transportation safety board says there needs to be more testing. why the flying public needs to know about this. >> reporter: earlier this week, we showed you tests of lithium batteries failing, burning and exploding. the same type of batteries used to board the new 787 jetliner, which underwent a resign to use air to cool the batteries to prevent runaway fires. uc engineering professor, and senior lawrence berkely battery engineer tells us he doesn't believe the resign went far enough. >> i think the much better design would be to have a liquid coolant system that can provide a much greater rate of heat removal so that if any one of the cells begins to overheat for whatever reason, tha

and they got an earful tonight. >>> hewlett-packard announced today it is laying off between 11 and 16,000 workers. the palo alto based company says the cuts are part of a major restructuring plan. they did not say where in its worldwide operations those cut backs will take place. the company also reported revenue is down in the 2nd quarter. >>> 2 investigates the danger of lithium-ion batteries. the national transportation safety board says there needs to be more testing. why the flying public needs to know about this. >> reporter: earlier this week, we showed you tests of lithium batteries failing, burning and exploding. the same type of batteries used to board the new 787 jetliner, which underwent a resign to use air to cool the batteries to prevent runaway fires. uc engineering professor, and senior lawrence berkely battery engineer tells us he doesn't believe the resign went far enough. >> i think the much better design would be to have a liquid coolant system that can provide a much greater rate of heat removal so that if any one of the cells begins to overheat for whatever reason, t

today, recognizing this man chief engineer at hewlett-packard laboratories and currently the holder ofents we have more information on instagram for you >> if you're a google user you will notice their logo. >> a young girl was chosen today from thousands of entrants. >> we are live now from the google campus to tell us about the winner of the doodle for google contest. >> well, the winner is an 11-year-old girl from new york. in her honor, ten schools will receive clean water systems here is why. google had more than 2100 variations of the logo known as doodles one will be on the web site for millions to seechlt they were created by school children part of the doodle for google contest. >> this is the kind of thing we try to do on the doodle team, it's a big inspiration to see. >> more than competed they have art and science work shops today the theme if i can invent one thing to make the world a better place. >> i see a letter bot. it's here. >> a panel of judges narrowed the field google users also weighed in. >> beautiful thing is the fact that kids are thinking about what they can