google is counting on the deal to use as a crucial weapon in an intellectual arms race with apple, microsoft and other rivals. we will be right back as the kron4 news continues. >>mark: and vallejo, authorities are on the hunt for two suspects responsible for shooting several people have this nail salon including a two year old. witnesses say someone walked up to the door and started shooting. the boyfriend of one of the female police pulled out a gun and shot that as a suspect. the female salon who were injured. q. of the people of ride at the area hospitals with gunshot wounds, this happened at team as nails here on spring as a road. police say at least three to five businesses were also high bullets. will tran is live with an update. >>will: family members are still inside in cleaning up i went inside. hear how it is a bloody mess here is an update. i spoke with family members who stated to year-old was hit three times. twice in her stomach and once in her upper thigh. she was rushed to hospital and is a cape. cut a deal with the hot she suffered and means paralysis. the older woman a liv

the companies include apple microsoft and haul hard pack hard. >>> they cannot deny benefits to the wife of a lesbian employee. he said they discriminate against same sex couples. a year ago the obama administration said they would not defend the law as defining marriage between a man and woman. >>> and they are donating to the cancer prevention foundation. it's more than a kind gesture, it helps under score a link between female firefighters and breast cancer. all people in their 40s, 1.5% have breast cancer but nearly 14% who serve as san francisco firefighters have breast cancer. >> we try as much as we can to keep ourselves protecting but the skin absorbs toxins so there is only so much you can do to protect yourselves. >>> a diet pill manufactured in mountain view is on its way to become the first federally approve pill in 18 years. they say its benefits outweigh its risks. it is a surprising reversal when a year ago they rejected the drug. >>> 600 were injured in a train crash in argentina, we have video of the moment of the accident and the malfunction that may have contributed to

. >> and how apple and microsoft responded to accusations of unfair work conditions. live, this is kron 4 news at 11:00. >>> tonight there is rain in the bay area. these pictures from san francisco an hour ago. light rain dampennic the votes. we will -- dampening the streets. there is heavy spots. >> there are areas of moderate rain. over the central bay. let's zoom in and see where it is the heaviest. moderate to heavy rain. oakland, rain is coming down an inch han hour. just under an inch an hour in oakland. to san francisco, we are seeing moderate rain, half of inch per hour there. in san leandro, fairly heavy rain. third of an inch of rain. heyward, lighter, 2/10 of an inch of rain. south san francisco, you can see there, quarter of an inch as well. more jumping and you can see orinda, quarter of an inch of rain. it is coming down right now. south more, redwood city, the rain is lighter. palo alto. san jose, not even reporting just yet but we have more rain in store. you see here on radar, heavy rain is over us now. more yellow off shore and that indicates more he

the old tech titans like apple, microsoft -- apple's an old tech titan, oracle making out big on thisis big tech back? looks like it. let's bring in matt. what say you? is boring old oracle sexy again? >> i think it certainly is. we have a facebook feel-good rally right now. facebook's the tide lifting all these boats here. microsoft over 30 for the first time in two years. we have intel rallying, apple at all-time highs. ibm up at all-time highs. oracle is a boring old stock but going to make you some money here in the short-term. investors are focused on tech, so why not ride the tide? >> really? would you buy these techs on the back of facebook? this is a feel-good rally on the back of facebook? >> absolutely. that's all people is talking about. greece is in our rearview mirror believe it or not. jobs number added fuel to the fire. people can focus on the tech sector and really buy it right now. it's not just the large caps. small and mid caps are up over 12% this year too. there's value everywhere and people are buying into it aggressively. >> matt, thank you very much. do appreci

apple past microsoft and then it big oil got smaller. apple past exxon mobil in terms of the company a value and their evaluation is about $460 billion . apple is now worth more than google and microsoft combined. i'm jane king for wbal-tv 11 news. nextunderstand google's venture has to do with home entertainment. >> google is testing something. i will tell you something about what we know. >> sneaky. 5:22. 28 degrees on tv hill. denzel washington switches sides. >> denzel washington plays a bad guy in a new movie this week. >> we have more in the box office preview. >> you are responsible for your house. >> denzel washington is the worst house guest ever. he is living life underground. he is apprehended. a band of mercenaries storm the fortress. fehouse" is rated r. tiny elephants in giant insects in their quest to find his grandfather on an island that does not exist. "journey 2" is rated pg. "the vow." newlyweds are living in chicago. she gets robbed of her memory. he tries to winner back. george lucas releases "star wars episode one,

so for the top six platforms apple, microsoft google, they came to the table when we gave them a callaid let's put in police some rules and they agreed to do it. >> they signed the agreement. >> good for them. agreeing that this is such a new industry, and we need to set up some rules. >> did you negotiate it on behalf of use necessary california or just users all over. >> so the initial is the california user but the reality is these apps are being used globally and it will have global in fact. >> if they do the right thing. >> hang on we're going to come back. she has got a lots more to say and we'll an ask lots more questions. we have california attorney general kamala harris. you're watching "the war room" on currererererererererererererererererererererererererererererere [ laura ] maine is known for its lighthouses, rocky shore and most importantly its lobster. it's the tastiest, the sweetest, the freshest. nobody can ever get enough. [ male announcer ] it's lobsterfest at red lobster the one time of year you can savor 12 exciting lobster entrees like lobster lover's dream or new

look at the main players of the s&p 500, the big five, you know, walmart and apple, microsoft, very extendedtocks. you could see a pullback -- >> you're not saying short apple, are you? >> no. that's blasphemy. you could hit an air pocket in had a stock like that, certainly. >> on the fixed income markets, we've been in favor of having more exposure to credit. we like corporate bonds. they've had a good run. i still think this year, though, in fixed-income markets is all about clipping a coupon, earning the coupon, you won't see as much price appreciation. but we'd be more favorable towards credit than, say, treasuries. >> it's not sexy, but you're protecting your money, and that's what you're looking to do right now. >> that's what bond investors are looking to do, provide stability in the portfolio and hold on to your money. >> the ten-year back above 2%. where do you see it towards the end of the year? >> it could drift up, if the economy continues to go along at about a 2.5% growth rate, we could be at 2.25%, 2.50%. i don't see the ten-year going a lot further than that. >> thank you bot

the big names, best of breeds, apples, microsofts, ibms have all performed very well.e it's pulling a lot of this money. if you notice, as we were talking about earlier, the volumes overall have been drying up a little bit. where you've seen the money go is to the best of the breeds and all of that has been in tech. >> are people just taking to the sidelines waiting for a resolution out of greece? and do you think that there is a lot of money op the sidelines that could potentially come back to equities at some point? >> i think there's a ton of money on the sidelines. what's happened is we've had such a strong run-up to the beginning of the year, they're reluctant to pile in at this point with a couple risks out there in the world. one being what's going to happen in greece. i think a positive resolution is baked into the market already. but i think everyone's just waiting for that confirmation we can put greece to the side now and go forward. when you get that confirmation, i think you'll see more money piling in. the leaders that have been leading so far will contin

but helping to drive it to 3,000, the tech titans, apple, microsoft, oracle, intel and qualcomm. up over 1,100% over the last decade. and one mutual fund manager is now making a very bold call. we have him here. his name is bob olstein. he says amazon is actually worth half its current value. he's with us now as well as herb. why half its current value, bob? >> well, amazon's market capitalization's $82 billion. when you really rip their free cash flow apart, you don't have anything cash flow. the company is growing sales by leaps and bounds since 2008. it's probably up three and a half times. and their earnings, free cash flow, all stuck at the same level. this company is highly overpriced. 8% returns on equity. the company sells at 10 times book value. companies like macy's selling 26% returns on equity and selling at two and a half times book value. >> but, robert, look. i hear you on this. but you get somebody like an analyst at bernstein and just the other day he says amazon, why it's undervalued, why he thinks it has a 12-month price target of $239. he sees margins expandin

apple. and microsoft were always playing catch-up. are they still doing that here? >> exactly so. is all builds off what apple did. no question about it. although it's not just a xerox copy like android did. the thing about dragging your fingers in from edges, it's been done on phone but it's new for an operating system. i think microsoft felt the pressure to do something a little fresh. now they have an app store to download windows store just like the apple store. all integrated into this. in some ways it's a ripoff. but the overall picture, i give them credit. this thing with tiles that tell you what's going on in the apps without having to open them, i think that's fresh. >> okay. so you're a tech guy, not a stock guy. in terms of the operating system, did this far exceed your expectations? is this something to really get excited about? will this cause people to say i'm going to buy pc, not a mac. >> i've always been a beauty bigot. to me it looks like they've put effort into this and sweated the details. it is extremely fast and fluid and pleasurable to use. i think the people

the nasdaq usually gets the big tech titans, apple, microsoft, oracle, amazon, all there.ut the nyse has been fighting is fighting hard for that. another rivalry we are watching. big fireworks this afternoon. >> lot to -- >> come lou. >> lot to talk about on wall street. all right. thanks so much and we will see you tomorrow, i hope. >> see you. >>> more than 20 million people in the united states use some kind of illicit drug or have in the past 30 years. marijuana is among the most popular choices. why it is so commonly used and the effects of the drugs. it seems like most people probably think they know all the answers about marijuana but they don' don't. >> curious. all right. so -- why is it the most commonly used drug? is it because it is available out there? >> i think the main reasons are because it is so readily available and because generally it has a safety profile that's better than most other drugs out there. there are no people that overdose and die from just using marijuana compared to things like heroin. i think the stigma is a lot lower for use of marijuan

historic high for apple, microsoft up there, and lsi, dell hitting a new high as well. after the close, and we are waiting on some of the key stocks, disney, panera, and diagnostic equipment maker perkinelmer up today. >> a move on disney even before the company reports on the numbers. let's take a look at the other business headlines as we await news coming out. ben bernanke today testified before the senate budget committee. he reiterated what he told a house panel last week. he repeated that we will still have a long way to go before the labor market can be said to be operating normally. particularly troubling is the unusually high level of long-term unemployment. he urged lawmakers to reduce the long-term budget deficit, but to take care not to unnecessarily impede the current economic recovery. crude sweet crude climbed today. west texas crude rising after the spread between u.s. benchmark crude and north sea bre brent. gold prices snapping a two-day losing streak today. expectations that a greek rescue deal will be achieved. finishing the day at 1746 a troy ounce.

according to bloomberg, apple is now worth more than google and microsoft combined. we have a new survey that says president of alexandria are not as romantic as those in knoxville, tenn.. google has plans for the home entertainment business. those coming up in the next hour. that is business news like that headquarters. >> thank you. it is 33 degrees. >> still to come, new developments in the child sex abuse scandal at penn state. what jerry sandusky is requesting for a judge him why they are asking for the opposite. >> another check of traffic and weather every 10 minutes. things are moving smoothly. [ female announcer ] with swiffer wetjet, cleaning better doesn't have to take longer. i'm done. i'm gonna... drink this... on the porch! ♪ give me just a little more time ♪ [ female announcer ] mops can be a hassle but swiffer wetjet's spray cleaner and absorbent pads can clean better in half the time so you don't miss a thing. hi mary! morning! gladys. gladys! [ female announcer ] swiffer. better clean in half the time. or your money back. >> friday morning. we are h

right now apple's worth more than microsoft and google combined. stack up apple against autos. it takes market caps of toyota, volkswagen, diamler, honda, ford, nissan and tesla all added together to reach apple's present $500 billion market cap. measure apple against media. look at these 11 names. you have to add all of them up and they're still less than apple at $350 billion in combined market cap. so exactly how big is $500 billion? well, if apple were a country with a $500 billion gdp, it would be the world's 20th largest economy between switzerland and poland. now, apple has been publicly traded since december of 1980. hard to imagine, but the company hasn't always made money handover fist. apple lost money '96, '97 and 2001. steve jobs wasn't always at the helm either. he was ousted in 1985 and didn't return to the company he founded until 1997. fast forward to 2007. apple hits $100 billion in market cap. multifullying four fold in five years to $400 billion and just last month apple's grown $100 billion to more than $500 billion right now in trading at yet another all-t

after learning google bypassed privacy settings on apple's safari microsoft began asking if the samend internet explorer? the answer is yes. the "los angeles times" reports microsoft left a big privacy loophole in the explorer 9 browsers and claims google is exploiting it. microsoft is investigating what changes need to be made. google has not commented but says it removed the code tracking people on safari. >>> state sponsored program generating controversy and debate. california is delivering free condoms to teenagers in -- orders taken on lane. lilian kim has more. >> reporter: teens can buy condoms at the store or get them for free at certain clinics. now they have another option. 12 to 19-year-olds can go online at teensource.org and place an order to come to their home at no cost. >> research shows that barriers such as embarrassment or concerns around confidentiality or affordability are present for teens. we want to be able to break down those barriers. >> reporter: the teen pregnancy rate is down in california the number of cases of std's is up among 15 to 19-year-olds which

apple for one. microsoft for another. >> there's been money in these all year long. then you get the piece of news about facebook's valuation earlier in the week. there's names that are benefitting from this from a valuation's standpoint. and you're seeing a lot about tech and the prospects for an economic recovery. echoed by the unemployment data this morning. if you saw any signs of people willing to go away from the position themselves in financials and technologies. >> we've actually seen that for the last couple weeks. some of the tobacco stocks have not done well. mcdonald's is stuck in in rut. bonds got killed. a lot of that money is going to go into equities. there's also good news. correlation is no longer at one. we have some stocks that are up a ton. some are down a ton. it's easy to look at names like microsoft and think it's dragged higher by the overall market. but correlation is no longer one. that's a good thing for the stock market. one other thing. it's almost like every stock investor had the lightbulb go off over their head. it's like people say h

they would acquire more than 17,000 patents and hopes to compete with apple and microsoft in the mobile devices market. >>> and apple meanwhile responding to critics who question working conditions at the company's overseas plants. apple has asked a nonprofit outside group to check on the factories where iphones, ipads and some of their other products are built. "new york times" reports apple's ceo recently defended the company's manufacturing record in a memo to its 65,000 employees. today, that ceo gives a speech at goldman sachs. >>> mcdonald's is taking steps to create a more humane mcribs. they are telling their suppliers to end the use of gestation crates for adult female hogs. some spend their entire lives in the pens that are so small they can't even turn around. now mcdonald's decision is likely to mean the end of those crates at major producers. >>> 5:51. it's like super bowl for soup michael jordan else. >> this morning we get a first look at the new star of the sports illustrated swimsuit cover. >> hm. ♪ i left my heart ♪ in san francisco >> it is only the best song ever. >>

, but microsoft falls into the category of companies competing with apple. >> hold it? >> if you own it, you can take some profits, a lot of profits. it's going to come in. and dividend, a lot of people talk dividend on microsoft, they're paying a 2.5% dividend. you can do better elsewhere. >> discovery, products up 76% in the quarter. still a problem with oprah but the stock at 45. buy, sell or hold? >> buy discovery. here's why. discovery was able to increase across all segments. so discovery's able to increase from ad revenue. they were able to increase internationally, which is very important. you buy discovery here. >> the dow closing in on 13,000. you've got a couple of picks here that you think might be buys if we get there beginning with stanley, black & decker? >> if we're going to continue through 13,000, not get there and just roll back over, it's going to be because of a housing recovery. and for housing recovery, you have stanley black & decker. the stools are for residential housing also commercial housing. a way to play a recovery in the economy is to be l

apple. we bring in colin gillis. we'll be brief because of the fed chairman. but that's the way we frame it today. you say microsofter buy than apple, why? >> it's a value play. if you're looking at two names, look at apple with its market cap the largest listed company out there, it's only got, you know, room to fall. and if you look at what's happening in the landscape for tablets and for phones, all right, windows 8 is going to be an excellent product. it just got the consumer preview announced in barcelona and also the other fact we want to throw out there is that it's going -- my camera flipped off there. >> i can still hear you. let me ask you, do you think microsoft is finally turning the corner as a stock? >> well, it has, certainly. it's valuable play. it's trading 11 times earnings, it's got a dividend. the area people concerned about is that windows was -- microsoft was lacking in both tablets and phones. right? and they have been addressing both areas well. windows phone with the partnership with nokia addressing the phones and windows 8 addressing the tablet market and they have plenty of room to grow

general kamala harris announced a deal with the sixth largest providers of apps including apple, google and microsoftit requires app developers to include privacy policies so users know how their personal information will be accessed and used. harris says the state will sue any developers who don't follow the agreement. >>> a sale every week, huge discounts, it's a strategy that keeps customers going to kohl's week after week but just how good are those deals? on the consumerwatch, julie watts with a hidden camera investigation that found marked- up, markdowns. >> reporter: she thought she was getting a good deal. half off these high thread count sheets for 209.99 at kohl's. then she found this price inside the packaging, 40 bucks cheaper than the outside sticker. did she really get half off? >> you really look at packaging on the stores and you expect the price on top is cheaper and actually it was more expensive. >> reporter: she suspects kohl's may be marking up prices before marking them down making sales seem bigger. >> this is just not right. >> reporter: hidden cameras sent inside several kohl

that pales in comparison to the estimated 1.2 million fox come employees who make products for apple and microsofte. we thought it was time to throw some not well-known facts onto the table in this debate. one, we do make things in america, a lot of things. according to the u.s. federal reserve, 89% of american spending is on items made in the united states of america, a lot of that is on services, food and things like that. we make cars and washing mach e machines here, just ask g.e. imports account for only 2.5% of u.s. gdp. two, we aren't going to be able to make the things china makes more cheaply. take clothing about

amazon, apple, microsoft and amd in the red today, but amd is crossing into the green.s it might buy bankrupt japanese masht lm memory. warren buffett speaking about the markets and his successor. we'll go live to omaha to get the highlights. can dell keep up with the likes of apple and remain successful? luxury carmaker jaguar is embracing its wild sidearmed with a new campaign, a new logo and several new products in the pipeline. jaguar hitting the road on a u.s. tour and they're here today at the stock exchange. we'll talk with phil lee bow. robert griffin iii setting records at the scouting combine. already getting an endorsement deal from adidas. he's with us live to tell us all about it. we'll begin with the buffett exclusive. the oracle of omaha sitting down this morning saying housing is likely to improve in year and high oil prices will not derail the economic recovery. becky joins us live from omaha with highlights of her interview a few hours ago sitting near printing presses of the omaha world herald. >> that's right. we're here at "the omaha world herald" b

technical okay so they have found a way to circumvent. >> another way of circumventing what microsoft and apple intended, but it is not quite as elaborate and not quite as sneaky i suppose. >> why is google doing this. >> well, the feature that google is trying to implement is way of unifying their social network with ad network they run ads a long time, 96% of the money on ads and trying to get into the social stage if you like an ad you might share it with your friends if you opt into their service but when they tried to enable this feature they ended up breaking down the third party cooking blocking for everybody everybody using safari, where that feature is on be default. >> it is there to prevent -- define what a third party cookie is. >> so a cookie is a little piece of information a web server sends to your browser and your browser sends it every time you make a request when it is good, cookies that you like, they remember you are logged in to your favorite website remembers who you are shows you pictures and your comments those are good but cookies also allow, ad providers when they put

and beyond apple it's ibm, microsoft, google, intel. d if apple was in the dow would be well over 14,000. ibm and apple the only ones in positive territory today. now, i want to go to gold. other metals getting ready to close, bertha coombs at the nymex. >> thanks very much. i'm in the gold pits in the final trade here. well off of the day's high but gold breaks a three-day losing streak. and issue for traders is they say the continuing uncertainty over how this greek situation will be resolved and the growing rhetorical tension between iran and now europe as iran says it's going to cut off oil exports to europe. you can see that in just how much bigger the trade was today and the move was today in gold in euro terms. that's something that dennis gartman watches and a number of traders watch now. we saw the move up in precious metals breaking the three-day losing streak but we did not see it in copper. copper in fact a fourth down day despite the fact we had the bullish builder sentiment, sue. a lot of folks say the fundamentals in china

>> with a 4.5 point gain on the s&p 500, i don't know where it would be had it not been for apple and microsoft. >> over the launch ffr the new ipad. but i don't know. it's getting -- it feels a little frothy. we sold some april 550 calls today. i think they expire on the date of earnings -- they're next earnings release. as the stock continues to appreciate becomes a bigger part of the portfolio. and yet the risk reward has changed a bit. >> did you think you'd be selling apple 550 calls? >> no. >> the stock's up 18% for the month. this is a mega cap stock. >> mike khouw, i'm curious. i would imagine once we heard some details about the new ipad 3 between the processer, the 4glte that the options picked up. >> the options activity has been pretty extraordinary for some time. karen is right. april options expire on the 21st which is a saturday and of course the earnings come on the 20th. that's probably a good one to sell. i think it's interesting when we take a look at those stocks everyone was talking about having outperformed. a lot of those were highly distressed names that had farther to c

while that pales in comparison to the fox com employees who make products for apple and microsoft, theore. and we thought it was time to throw some not well known facts on the table in this depate. one, we do make things in america, a lot of things. according to the u.s. federal reserve, 89% of american consumer spending is on items made right here in the united states of america. a lot of that is on services, food and things like that. but we make cars and washing machine here's. just ask ge. imports in china account for -- this is amazing -- only 2.5% of u.s. gdp. and two, we aren't going to be able to make the things china makes more cheaply. 45% of the clothes we buy are made in china. if they didn't do it, another poorer country would. we want wages to grow in

while that peales in comparison to the fox com employees who make products for apple and microsoft, theore. and we thought it was time to throw some not well known facts on the table in this depate. one, we do make things in america, a lot of things. according to the u.s. federal reserve, 89% of american consumer spending is on items made right here in the united states of america. a lot of that is on services, food and things like that. but we make cars and washing machine here's. just ask ge. imports in china account for -- this is amazing -- only 2.5% of u.s. gdp. and two, we aren't going to be able to make the things china makes more cheaply. 45% of the clothes we buy are

this pact by global -- google, apple and microsoft will be bad for the internet.t to go to the new york times and get free contact in for gm to buy advertising. they want to track how many people hit the web page and open the web page and buy cars. >>catherine: if you stop doing that, they may stop providing free content. >> ultimately free contact will become more expensive if they do not get the numbers or results they want. >>catherine: we would have to start paying for stuff we would normally get for free. >> privacy is wonderful, but the cost of it becoming more expensive is not so wonderful. >>jaqueline: another gorgeous day out there today. here is a live look outside from the mt. tam cam looking down at ocean beach. clear skies. the winds are breezy. 18 of our wins at sfo, wind speeds in the teens in a few other places, 18 in san jose. it would devise remains in place for me with the north bay. 42 mi. per hour wind gusts in fairfield. later on past 10:00 p.m. things are starting to die down a little bit but still pretty breezy past midnight. into the 7:00

amazon, apple, google, hp, microsoft, and research in motion the maker of the black berry. all six have agreed to comply with state law by working with app developers to create policies post them before a down load occurs and to help enforce the law. harris said mobile applications can collect a user's name, phone number address, location and other detail was out the user's knowledge. the state office of privacy protection. >> knowing you're going to have to explain what information you're collecting and what you're doing witness can cause you to think it through and make decisions on the front end. i could would think long term that, would be a good impact. >> big unknown is whether they understand them. seth rosenblatt is senior editor for software at c net.com it means you're not installing data. and chances of people not installing an app they want to test out because of a privacy ol polsy are pretty slim. >> look for those to start popping up. developers could be subject to a $5,000 fine for every down load violation. >> still to come here tonight on abc 7 news an ash

amazon, apple, google, hp, microsoft and research in motion. maker of the black berry. six from agreed to comply with state law. working with app developers to create policies, post them before a down load occurs. harris says mobile applications can collect a user's name, address and other detail was out the user's knowledge. the state office of privacy protection autos knowing you're going have to explain the information you're collecting and what you're doing witness is going to cause you to think it through. >> i would think long term would be an impact big unknown is that they'll down load apps. and if they don't go with bombsies the chances of people not installing an app they want or want to test out, are slim. >> and look for those policies to start popping up. otherwise, the app developers could be subject to a fine or every down load vile yaipgs. in the newsroom abc 7 news. >> thank you. >> and president obama is seeking to lower the corporate tax rate, unveiling a plan it claims would make businesses more competitive and encourage manufacturers to stay in the

among the day's big movers, microsoft soared 4%. apple had an early decline.lsewhere on the earnings front, data storage company net app led the s&p with a 7% gain. on the down side, smuckers slipped 8% after slashing its full year earnings outlook. online jewelry retailer blue nile tumbled 10% after a disappointing quarterly report. yelpers will be able to invest in the online review service soon. they set a target of 12 to $14 for its upcoming ipo. thanks to a blogger and ba reese sta who dreamed up what may be the most expensive starbucks drink ever. your morning brew is about to sound like a bargain. this has 16 shots of espresso, three milk, carmel syrup, fruit purees, vanilla beans and protein powder rang up to a whopping $23.60. hopefully that doesn't become a habit. coming up, duke has another big come back. the seminoles stay in first place and fans say good-bye to a bi baseball great. >> the weekend forecast is all about the heavy rain moving through the southern half of the country. your forecast is coming up. you're watching "early today" >>> good

apple is worth more than microsoft and google combined. if apple were a country, it would be the world's 20th largest economy. this all comes amid speculation the ipad 3 is coming out next wednesday. apple did send out an invite to an event but saying only, "we have something you have to see. and touch." tell or won't it be the ipad 3? we'll have to see. keeping details close to the vest. but speculation is it will be the third iteration of the ipad. >> i know a lot of apple users are a little bummed out. people like joe krebs who just got the ipad 2. >> i know. >> what you going do? hard to keep up. >> it's very hard. i just got the ipad 2, as well. >> all right. thank you very much. take care. >> thank you. >> maybe we can get historic license plates for it. >> my gosh. all right. see you soon. >>> breaking news now. we've just learned that a possible tornado has killed at least one person and injured 13 others in a mobile home park near branson, missouri. emergency crews are trying to get to people who are trapped in their homes. several

now amazon, apple, google, hp, microsoft and research in motion have agreed to work with app developers to create privacy policies and post them before a download occurs. >> if they don't go with the privacy policy that means you are not insawing the app. the chances of people actual -- installing the app the chances of people not installing the app they want or test out because of a privacy poll sill are pretty slim. >> big -- big unknown is whether people will read the privacy policies before downloading the apps and whether they can understand them. >>> the head of the u.s. coast guard is giving his annual address in alameda this morning the first time he's given the speech outside of washington. he plans to use three new coast guard cutters ans a backdrop for his speech that asks for more ships he says the vast majority of his 40 major ships were built during the vietnam war and are falling apart. the admiral says it needs to double its budget for new vessels to two billion dollars a year. >>> san francisco's supervisors are expected to vote next tuesday on a binding deal to host am

her staff sat down last august with the six largest companies that market apps, amazon, apple, google, hp, microsoft and research in motion themaker of the blackberry. all six agreed to comply with state law by working with app developers to create privacy policies, post them before a download occurs and to help to enforce the law. mobile applications can collect other personal details without the user's knowledge. the state's offense of private cipro tex. >> knowing that you will have to explain what information you are collecting and what you are doing with it can cause you to think it through and make some decisions on the front end. i would think long-term that would be a good impact. >> reporter: the big unknown is whether people will read the privacy policies before downloading apps and whether they understand them. >> if they don't go with the privacy policies that means that you are not installing the app. the chances of people actually not installing an app that they want to test out because of a privacy policy is pretty slim. >> reporter: look for the new policies to start popping up as so

apple. dan mentioned that the market cap of google and microsoft is less than apple's. and if you look at the key vendor rivals, apple is worth twice what they're worth. and finally there's a handful of competitors left. 17 in total. they still have less than a hundred billion dollar market cap short. and apple shares charted against the moving averages unprecedented. probably not sustainable. >> it's joe. it appears as though you're looking at an overall market call here for a correction. you've got financials up close to 13% here in the xlf. would you shoot against that? maybe take shorts out in the financials? >> i'm still long the xlf and selected banks. i would tend to focus on the nasdaq. i think dan had a tremendous blog today in which he mentioned the deterioration in the number of new highs. we only had about 185 new highs today. if you go back to may, the reading closer to 1200. before the collapse in july it was over 800. so this shows the dependency on apple. i would tend to look at the deterioration. >> good to speak with you. doug kass. nice words on your

. >> you're not equating microsoft and apple are you just because a dividend buyback didn't do anything for microsoft. >> you know, i just -- >> that seems to me to be a stretch. >> about a hundred billion dollars which is about apple's cash balance now. >> collin, just a quick thing on this. we saw a lot of volatility in apple shares in the past couple weeks and going up to the high 520s down to 490. are you concerned about that sort of 6%, 7%, 8% moves in a massive company or just looking at the pure, you know, what is happening with the ipad, what's happening with the rollout of products. >> yes. >> and treating that as noise? >> you know, well, listen. when apple gets to the levels it's at now, everyone loves to talk about how apple is so cheap. it is appealing on a ratio basis. but it's the largest market cap company out there on any list of exchanges. in fact if you look at some of the price targets that people have out there, $670, that gives you a $630 billion cap. i spent sometime going through looking through history. there is no precedent of any tech company hitting that valu

apple. microsoft, cisco and emc in the green. so let's get to the road map.ny orbitz has earnings today. can it get back on track. the ceo is with us live. and then acting fdic chair. we'll see what he has to say about the state of banking in the u.s. and the economy as a whole. plus the company responsible for wrangler jeans and north face jackets beating fourth quarter estimates. ceo is with us for an exclusive interview for his forecast for the rest of the year. and former car czar steve radner is here with his take on gm's number today and where the company goes from here. that is all coming up in the next hour. we'll start with squawk on the beat. communications beating the street thanks to big advertising growth. analysts still worried about oprah's flagship network own. good morning, julia. >> reporter: good morning. discovery, the company behind hit shows including dirty jobs, myth busters and deadliest cash reported strong viewer ship and distribution revenue growth with a positive outlook for 2012. net income last quarter grew 76%. but the stock tra

apple, google, hp, microsoft, research in motion and amazon all must post a privacy policy on each appnd it must be easy to find. >> over the course of these last six months, we had discussed the need to enforce california's law, privacy law, which is one of the strongest and most explicit in the country, after all this action in the california institution, and to do the work of ensuring that the consumers who are using these applications have the benefit of knowledge and then the cotools protect themselves. >> all six companies cover the by the agreement will also educate app developers about their obligations to respect consumer privacy. >>> the violence is intensifying in syria despite the death of two journalists including an american reporter now. >> janelle wang is here with our international headlines. >> new york native marie colbin was in homs when she was killed in a mortar strike. she had just filed a report with the bbc the day before she died talking about the ruthless attacks on civilians. >> i watched a little baby die today, absolutely horrific, just a 2-year-old been h

after recently learning gaggle bypassed user privacy settings on apple's safari web browse we are microsoftbegan asking if the same was being done on internet explorer? the answer is apparently yes. the "los angeles times" reports microsoft left a big loophole and now claims google is exploiting it. microsoft says it is actively investigating what changes need to be made to prevent google from potentially tracking users. google has not commented but says it removed a code tracking people on safari. >>> state sponsored program generating controversy and debate this morning. california delivering free condoms to teenagers. orders are taken online. lilian kim has more. >> reporter: teens can buy condoms at the store or get them free at certain clinics. now they have another option 12 to 19-year-olds can go online at teensource.org and place an order to come to their home at no cost. >> research shows that barriers such as embarrassment or concerns around confidentiality or affordability, are present for teens. we want to be able to break down those barriers. >> reporter: teen pregnancy rate is

these workers could be responsible for the next google the next apple, microsoft or other cutting edge technology. it will promote american exceptionalism and will propel this nation back to the fore front of work force -- forefront of work force development. the president's blueprint to build a highly skilled work force through our community college system is the right thing to do. it will allow community colleges in my district, for example, shelton state and wallace state community college greater access to resources to educate those ready and willing to take jobs, hiley skilled jobs in our -- highly skilled jobs in our work force. at a time when these initiatives are critically important because we in america can ill afford to be left behind when it comes to innovation, i believe that the president's blueprint should be applauded and supported. i know that in my own district mercedes-benz, a very important employer in my district, has taken such initiatives to another level. they've encouraged high school students, giving them a chance to learn how to use their machines and partici

and sl worth more than microsoft and google combined. if apple were a country, it would be the world's 20th largest economy. unbelievable. >>> at this point futures are slightly higher so the market is poised to continue gains after the dow finally managed to close above 13,000 for the first time since may of 2008. investors cheered a report showing consumer confidence at a 12-month high and oil prices falling helped us to get there. we'll get the final report on fourth quarter gdp which could show the u.s. economy grew a little less than previously thought. fed chairman ben bernanke testifies before congress this morning about the economy and interest rates. the dow closed up 23 points which means we'll open today at 13,005. the nasdaq adding 20 points to 2,986 which means we are getting closer to nasdaq 3,000 as well. >>> some americans may have to wait a little longer to get their tax refunds. several online brokers, including charles schwab and share builder, have asked the irs for an extension beyond the traditional february 15th deadline to

. >>> after recently learning google had bypassed user privacy settings on apple's safari web bruiser microsoft-- web browser, microsoft began asking if the same was being done on the internet explorer? the answer was yes. microsoft says it is actively investigate wag changes need to be made to prevent google from potentially tracking users. google has not commented but says it removed its trackers on safari. >>> mike is tracking the weather, good thing, allowed under the@ law. >> encouraged, look behind us you can see a lot of fog, here some of the fog nestled into the east bay valleys as we look southeast from vollmer peak this morning you can see the sun about to come up in the four to five minutes or so most of us won't see it because of that fog those of us that do you are in for a treat as it uplights the clouds, very beautiful in some areas this morning. let's show you the temperatures so you will know how to does. 40s in fairfield, 41 livermore, 42 redwood city, especially after the e-mail i got ñ, shirte e-mail i got and suit not matching. we'll move on talk about low to mid 40s around