bank of america is my pick. >> karen? >> i'm going with bank of america, also. i also like the u.s. it. and the valuation. like it a lot. >> bank of america. can only mean that honeywell is going to win. but bank of america, i'm looking to add. i want to see how it acts next week and the first couple of days. >> tim, your vote really doesn't matter, but -- >> it always matters, mel. and i will say bank of america because i've been saying it all along. on valuation, even, price to tangible book, .85, this is a company that's been rocking it aptd the money center banks are the ones that are going to do the best in the first quarter. >> we tallied all the twitter votes and your vote out there doesn't matter, either, because it's been a clean sweep on the desk, but you went against this desk and chose honeywell. >> oh, wow. >> all the guys here picked bank of america. beekers, tell the viewers why they might be wrong. >> if the economy continues to get weak globally as it has been, honeywell is going to do a lot worse than bank of america. as karen said, at least bank of america has the

of nearly $28,000. an amount he says he believed he was supposed to pay. an amount found on three different mortgage reinstatement statements sent to him by his bank. thomas says one bank of americaresentative told him the bank got his casual sheer's check. but another bank representative told him the bank never received it. then, according to court records, another department at bank of moerk, foreclosed on his home, put it up for auction and sold it out from under him days before christmas. >> i don't show my frustrations outside because my family depends on me. if i fall, my family falls. >> joe g. thomas is not alone. according to realtytrac, an organization that tracks housing trends, from june 2008 to october 2010, 184,000 notices of default have been filed against homeowner ins the bay area. that's $86 billion worth of loans. and bank of america's foreclosure trustee handled one in five of those defaulted properties. 25% of the defaulted homes have been in default for more than three years. that's more than three times the statewide average for a home in foreclosure. >> this is all too common. >> experts say mortgage servicing companies stretch this process out by design b

i don't know where this loan came from. >> though bank of america refused to answer questions on camera, a spokesman did make a statement saying b of a has made significant improvements since 2010 and that will provide homeowners documentation proving the bank owns the loan, a process put in place before california's homeowner bill of rights became law. critics say that new law which took effect four months ago has failed to address this critical issue. >> they should have an obligation to prove that they own the loan. >> michael yest is an attorney for homeowners. he's sued banks for wrongful foreclosure because the banks could not prove that they owned the property or the loan. >> there are still homeowners out there being foreclosed on with no paper trail. >> everywhere. >> asechlblely man ting tried introducing legislation to fix this problem, but it failed to pass in sacramento. >> that is not the law. >> so i can foreclose on you without a clean chain of title right now? under the law? >> that is law. >> after we began investigating her case, terry mason's home was taken off the a

i think the bulk of the big risks are behind bank of america. y much settled everything with the gses. if the bank of new york settlement goes through that will take a large portion of private label. they announced today a settlement in securities litigation they were facing. i think the big risks are out of the way. on the other hand bank of america is still spending $900 million a quarter on litigation costs. that is something will continue on even if the cases themselves pose a smaller risk. they're still paying a lot to deal with legacy assets, servicing, foreclosures, things of that nature. no one is you can talk about bank of america putting countrywide into bankruptcy at this point as they were a year, year-and-a-half ago but at the same time, it is still costing them money. adam: where is the revenue growth going to come from? i know they continue to cut, the headcount at bank of mesh. you don't cut your way to prosperity, do you? >> that's a great question and actually some of the compensation expense was up a little bit because some of

google, disney, bank of america, and honeywell. these will duke it out for the championship crown. who will take it all? it comes down to the number one seed from the financials region, bank of america, and the number one seed from the technology region, google. so we turn it to the traders. >> you know what, both these stocks have been on a tear through the whole tournament, but i think that bank of america has peaked too soon and this one is google's to win. i like that one much better. >> google was my pick at the start of the competition. so i'm staying with the horse, google. >> wow. >> bank of america has been range bound since speaking earlier in the corner, if you look at their valuation, earnings, what they get from merrill lynch, i think they're in a much better place. bank of america, no question. >> tim's 100% correct. >> really? >> when you look at what's happening with google, spent it in the first quarter, big run-up, pulling back, alleged issues with the android. i think you have to go with bank of america. i like wh

>> i go with bank of america. i like the number one seed. f the biggest calls of the year. if you stay with that, you get the pullback. and here it is, bank of america, take it to new highs. >> i'm going to go with guy and visa. even though in the fast i picked bank of america, i think given this matchup, i would much rather be in a name that is going through a -- a change. >> year, one of those. >> one of those type of changes. >> tim? >> we're going to need the fans at home to weigh in on this one. it's a no-brainer. first of all, if you look at valuation, bank of america has plenty of room to go. the money center banks, period, if you think the consumer spending, guy, this is how you're going to see it carry through. if you look at 0.87 versus where they were trading precrisis, i'm not saying this is the same balance sheet. it's been diluted and it's got a lot more other pieces of toxin on it. but at the same time, this is a company that is cheap to its peers. you're getting the growth. bank of america, you go with the dynasty, just becaus

the selling of bank of america has picked up some steam throughout the morning, bac down 75 cents. ing project survey this morning showing that bank of america is one of the least trusted bank brands. former senior t.a.r.p. and treasury officer joining us now. about the aspen institute information, but back to bank of america and earnings. one of the least trusted names as you say, but these numbers of, this bank is not making a turn around. >> revenues down, profits down. they still got issues with regards to mortgage settlements. you're now at the bank of america, i know you focused on that company as treasury. >> that's rightment i think you're seeing the reflection in the market today. unfortunately, one of the things they need to drive forward on now is getting revenue in the core business, the largest part of bank of america, and in order to do that, it really takes trust, and one of the things that the research out shows they are among the lowest in the terms of trust ranking, and what we found is what drives trust in banking is it's not fairness, and it's not honesty, but he

that's an important part of taking bank of america where it is now to where i think it should and will be as one of the more efficient banks in the country. >> hart says the banks should benefit from more companies selling stocks and bonds in the first quarter. a surprise positive for citigroup and wells fargo with franchises far less developed than b of a. investor expectations are high, a welcome change for a bank with a troubled past. >> i think bank of america has been executing on their plan for a good year now, coming off bottom and proving their capital ratios, talking out costs and the investment bank hastm performed well. >> the question, whether the momentum can continue. for nightly business report, i'm kayla toshi. >> tomorrow, our earning spotlight series continues when we highlight the one tech report to watch. still ahead tonight, rising home prices, strong demand, even bidding wars. is this what the healthy housing recovery looks like? but first, let's take another look at commodities. >>> shares of home builders got hammered today along with the rest of the market afte

america turned down repeated requests to answer questions on camera about all of this. in an e-mailed statement a spokeswoman said bank of amer a america. in a financial statement the bank did write off more than $3.2 billion in home loans. you can see the entire statement from bank of america plus the full package of stories done with our partners at the center for investigative reporting on our website. just go to nbcbayarea.com. raj, jessica? >> okay, steven, thank you. many of our stories do come from our tip line. if you have a tip for steven stock or anyone else in our investigative unit, given us a call 888-996-tips or send us an e-mail to theuni theunit @nbcbayarea.com. >>> chevron is back in operation in richmond more than eight months after it was knocked out by a fire. petroleum began flowing through the crude oil line. the energy giant says full operations could resume within days or weeks. an announcement came during the conference call with analysts for the company to disclose it posted $6.18 billion in first quarter profits. well, before the silicon valley was at the center of innovation it was a thrivi

running from me. >> reporter: bank of america says it has offered a three-month forbaerns, oriod for many sandy victims but acknowledges it did not place appropriate protections on akhter's account. bank of america deferred her paymen until june, when she'll owe $20,000. without a job, she worries she will not catch up on the missed payments, so she still fears she'll lose her home. york. miller, cbs new wok axelrod: coming up, he's the youngest player ever to make the cut at the masters. turns out he's also stealing the show. >> axelrod: we got a rare glimpse into the mind of know, let's athlete. kobe bryant tore his achilles tendon last night, ending his season and threatening his career. six hours later on facebook, he wrote, "the frustration is unbearable. theang ser rage. maybe father time has defeated me." but he went on, "after all the venting, aeal perspve in. there are far greater issues/challenges in the world than a torn achilles. forgive my long post, but i'm facebook venting, l.o.l.." now to golf and the masters tumor where officials have been making almost as muc

bank of america has been one of the ones to own in this whole banking sector.you think this, a lot the riding on these numbers? >> well, last year it went gangbusters, up over 100%. but this year it's lagging its peers. so it's only up about 5% year-to-date. so, whereas, its peers are up double digits. so it potentially has the ability to go higher from here and it could be a good entry point tomorrow for many investors. >> okay, that's something to watch, for sure. >> lee, let's talk about how you want to be investing around all these earnings. what is the chief investment officer do in terms of b of a stock right now? what do you want to see and how would you play it? >> well, i appreciate the numbers that nick's talking about. i want to see bank of america in their call confirm the macro guidance that we're seeing right now. because right now, i mean, we saw yesterday with gold, we're seeing stocks defensive, like johnson & johnson, do very well. so bank of america, back in 2009, maria, remember that was the only ticker that traders even cared about. the fin

b of a is already one of the best banks. bank of americaely one to watch. >> we will see if that's possible. kayla, thank you very much. headline time on power lunch. j & j losing ground as j.p. morgan downgrades the stock from neutral to overweight. it will lead the market in the republic of thailand. >> thank you very much. >> sit a hair raising story that has regulators taking action. do you know someone who is fearing baldness or is already bald? do not move. and russian president is not often shocked but you will see what made him gasp before the cameras and in front of the german leader. plus the battle of the billionaire boats. takes us inside the latest super yacht. >> the largest yat in the world has just hit the water. we will tell you how many football fields this thing could cover and wait until you see how fast this thing can go. coming up after the break. the american dream is of a better future, a confident retirement. those dreams have taken a beating lately. but no way we're going to let them die. ♪ ameriprise advisors can

bank of america reporting lower than expected earnings. ore growth of lending business. jpmorgan and goldman also sliding on the news. let's look at the markets on oil and gold. dan, good morning to you. >> good morning. >> there's a question of how much dan is being being enflikted but also how much damage is a result of the volatility that we're seeing this week. three straight days of triple digit moves. we haven't seen that since february. >> i guess this is the correction that everybody has been talking about for the past two or three months. if you've been waiting for it, you're sitting on the sidelines. there has been some done to the charts. no question about it. i think we're going to enter consolidation here. nothing has changed between now and last week or the week before that. we still have the same issues. there's no place to go but equities. people don't have much of a choice. sometimes it's no more complicated than that. >> you talk about volatility. having been in a kweez as we continue to watch the vicks. is that changing?

we have earnings this morning from bank of america. t was 2 cents below what the street was expecting. revenue did come in slightly above consensus and the bank's earnings were about four times that of a year earlier because of cost cutting and because of less money set aside to cover bad loans. earlier today, sat down with the chairman of the $500 billion sovereign wealth fund. here's what he had to say about the economic slowdown in china. >> i don't think people should be panicking. the chinese economy will continue to grow at the sustainable level. the government's target could be fulfilled without much difficulty. and we aim at the quality of the growth. i don't think achieving 7.5% is a big deal. i don't think so. >> that's a big interview with the chairman of cic. and you can catch the rest of that interview on cnbc.com if you'd like to see it. in the meantime, let's take a look at the oversees markets. overnight in asia, you see the nikkei up 1.2%. you also saw the composite down by .5%. in europe, this is where it gets interest

bank of america reached a record settlement with investors. the bank will pay $500 million to investors claiming they were misled by its countrywide unit into buying risky mortgage debt. in trading yesterday, shares of bank of america fell nearly 5%. the stock dropped on word of an earnings miss. although profits quadrupled from a year ago, shareholders remain concerned about future litigation against the bank. homeowners are having trouble cashing settlement checks from top banks. the money is to compensate for flawed foreclosures and is usually in the $300 to $600 range. 50,000 homeowners successfully recieved their money. owever, in some cases, the checks were rejected and could not be cashed. the federal reserve says the problem has been corrected. 4.2 million people are eligible for the payments. hitting the atm is becoming pricier. banks are charging higher fees for non-customers who use the atm. average charges are up 20% since 2007, from $1.75 to more than $2. some fees go as high as $5. banks are making more of an attempt to increase a

the financials here lower by more than 2%. 2.5%, led lower by bank of america following their earnings kayla is here to break it down. >> revenue growth, michelle, has been elusive for banks. bank of america doing pretty well year over year, but it had a few issues that hit the bottom line. mortgages first and foremost. of course, mortgage origination is slowing down. they saw a big gain in the home loans. they're underwriting. half of them, most came from government-supported program. when asked on the call how they're going to increase that activity, they said they'd try to underwrite broader products, but they couldn't identify which ones those would be. the other issue is there are still a lot of legacy litigation, today settling $500 million lawsuit with some holders of the countrywide mortgage-backed security. this wipes out 80% of the claims. so it's overall a positive development. the problem is, the investors thought the issue was long gone and they were hoping it wouldn't be a resurgence as it has been. expenses were masked. they were cutting costs and finally investment bank

that's bank of america. ♪ [ male announcer ] how could switchgrass in argentina, change engineering inubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >>> trades of jpmorgan falling even though the bank posted higher first quarter profits. they suggest the bank could be under pressure. this sets off our street fight over the megabank. karen is a bull, josh is a bear. total 90 seconds to make each case. karen, kick it off. >> the earnings were not the cleanest, not the best, but they weren't bad. there's a couple things that actually were in there that i think should be backed out which is very high litigation expense. i think we'll see that go down. credit quality is continuing to improve. the valuation which i

earnings of bank of america did disappoint. ur banks is chinese banks. thank you for being here and for your patience. we have had a lot of breaking news today. i want to get your thoughts on bank of america. >> the mortgage side certainly did not do well on the quarter. that is true for everything on quarter. if you take a close look at bank of america, you will see every major business lines had extraordinarily good results. there was a big increase and landing on the commercial industrial side. it is one of the few banks that showed an increase in lending on the quarter. most banks go down. the company had record results in the wealth management division. it had extraordinarily strong results in its trading operations. it costs went down. of course got it loans down. when i read some of the verbiage that has been read about the quarter, i do not know if i am looking at the same company. cheryl: revenues were down. citibank has backed off, frankly. the banking sector aside, you are also very concerned about what you say is reg

like the bank of america, the bank of america trade last week, another great one. what makes them -- >> we'll try again, travelers, all-time high. >> if you look at tjx -- >> cole's is trading down. >> because kohl's never took any paper away from them. kohl's was never in competition. it was macy's and others. >> kohl's not having the supreme issues jcpenney was, how are they going to recover? >>> josh lipton, you have been listening, what do you is? >> check out natural one, we got inflation today from china meaning policymakers have more runway to stimulate the economy if needed. good for the economy and materials. also, the better china data means we are also seeing some short covering, analysts say. back to you, scott. >> cliff, guys, who wants it? doc, a thought on cliff? clf? i can't imagine it's a good one. >> well, no, actually, it would be. there have been a couple plays in here, i'm not long on it right now, i wish i was. i was long at 18 and change and got out for a nickel or dime because i got so scared the thing might go right back down. >> look at it

the wall street big foyer of goldman fifty chase bank of america and morgan stanley of course pervasively you freule to tell haynes stolen from virtually every pension transaction on lawfully foreclosed this is the result of the homes deliberately sold products that bit's a good committed to trading manipulative prized the finest poems these tried to destroy evidence and droids rates because they just these politicians. think executive at these banks is being charged the justice department's that no one has b.c.'s getting indicted for systematic criminal activity see the h.s.b.c. officials but terrorism financing broke the bank secrecy act broke the trading with the enemy act it would fix the trillion dollars in suspicious transactions and gave favored client states the. street executive richest go do us a flavor of the favored cloying we're talking about the mexican cartels that have killed more than sixty thousand people whose preferred modus operandi is to come into a town cut off the heads of sixty prominent citizens and then leave them in the town square or as they did at one point r

. >> peter anderson, bank of america may have set the tone this morning with that disappointing earnings report, yes? >> y >> yes, it was. and that's symptomatic of the -- >> peter, hang on one second. we'll have to do this for the next couple of hours as more news continues to break. let's go to sue herrera with the latest. what do you have, sue? >> bill, our team on the ground in boston is reporting to us that the federal courthouse in boston is now being evacuated. you're looking at a live picture right now of people leaving that courthouse. we don't know why it's being evacuated. our team is working on thats s aspect of the story, of course. all of this as the very fluid situation in boston continues. as we told you during power lunch, the associated press reporting that an arrest was imminent in that case, and everybody backed off of parts of that story. so we're still watching a very fluid and developing story, but right now, the latest aspect of this story is that the federal courthouse in boston, as reported by our team on the ground there, is being evacuated. we'll continue to m

five hundred hit record highs last week wall street giant bank of america was busy negotiating another deal to make amends for its role in the foreclosure crisis on thursday the justice department announced that bank of america would pay thirty nine million dollars to three hundred sixteen members of the armed services that had a legally foreclosed on from two thousand and six to two thousand and ten yep bank of america targeted soldiers overseas with foreclosure another day another blemish on wall street's public image for many young americans over the last few decades a job at the big banks was once represented the pinnacle of professional success but after the two thousand and eight crash and all the ensuing scandals there's a wall street career still hold the same luster for young professionals and showed it let's ask nestle lowder a former wall street executive and founder and c.e.o. of power of n s a welcome to the show. thanks it's great to be here great to have you on seven essay you worked on wall street for many years for big banks like j.p. morgan what initially attracted yo

bank of america became some of the highlighting in a low-rate environment. sf servicing more loans and making less money from them. a report card for the good and the bad of the fed's low rates! the housing market, especially mortgage borrowers, have been the biggest beneficiary that began in 2008. close to 20 million mortgages have been refinanced since then. mortgage applications were up about 5% last week and the mortgage banker's association says the purchase index is at its highest level in two years. >> homes are just incredibly affordable because of these very low rate that is have been there to push down interest rates. >> low interest rates are getting consumers into auto-showrooms. new car sales could top $15 million this year and negotia negotiating monthly payments that take away much of the new car sticker shock. both consumers and businesses are paying off or refinancing debt. consumer refinancing is at its lowest level in a decade. approximately $70,000 per household. >> we've seen corporations clean up their balance sheets even more so. they'

. >>> bank of america, you might say they're putting the teller back in its atm's. bank of america is rolling out atm's with video displays that allow customers to speak directly with a bank worker. the teller-assisted items will give assistance in both english and spanish. they're being introduced first in boston and atlanta. the bank hasn't said when the new atm's will pop up in california. >>> the rutgers basketball coach is out of a job, but he still has a nice paycheck. mike rice was dismissed after this video surfaced of him, kicking and shoving players. but rice is due a bonus. he would not be collecting this bonus if he had been fired back in december, when the university decided only to suspend him over the videos. >>> the cal women's basketball team is headed to new orleans today. fans cheered on the team, now preparing for sunday's historic showdown. >> reporter: the cal band and dozens of fans came to the pavilion for a morning pep rally to send the team off. the cal women's basketball team is going to the final four. the team has captured a lot of attent

bank branch soon be a thing of the past? first, a look at the international markets and how they closed today. >>> jamie dimon, bank of america's brian monahan and more. president obama hosted executives from some of the nation's biggest banks and insurance companies today for a regular meeting of the financial services forum. on the agenda, immigration reform and cyber security, a growing concern for the industry. >> some of the same bank ceos in the process of making major decisions about your local bank branch. consumer habits changing, bank branches not as busy and all that pricey corner real estate may no longer be necessary. and kayla touschi here with more. >> bank branches are costly, in many cases inefficient and thanks to mobile technology and atms, consumers go to them less and less and left the industry in a precarious position. they don't want to see physical presence shrink, but in the end, there may not be a choice. times square bustles with activity, bank branches no exception. but these new yorkers weren't satisfied customers, which could be telling for the industry. >> the last time i came here was to cancel m

i mentioned bank of america, jpmorgan, what's up with morgan stanley today? >> morgan stanley is up 2%, goldman is down 1.75%. here's what's interesting about morgan stanley, if you correlate the stock price of morgan stanley to equity issues in tech, you'll find there's a very straight correlation. the tech moving up today, it's positive for their future underwritings. >> that's for sure. next up on "the half," gold prices extending their losses following the fed minutes, now down roughly 2% on the day. a little more than that. now two of the traders will battle it out over whether the precious metal and its next stop is up or down. bull/bear debate is next. >>> plus, david zier is going to join "halftime" to give you his top ideas. oh, yeah, and he's going to do it for free. you don't have to be a compliant. he's here. stick around, because he's giving you the secret to his success when we return. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros w

but a lot of expense takeout on bank of america's side, should be more of the same for them. >> glenn, capital markets was strong with jpmorgan and also today at citi. can this continue? and what is the function of really low expectations and beating the lower borrower, or something to get excited about here? >> it's a good question. it's both. expectations weren't huge, but they were there. it's the first quarter and people do expect to pick up. we did get the pickup. i think what people are most concerned about is would this be the fourth year in a row of great first quarter, and then we just kind of slide a little bit into -- into mediocrity in the second and third quarters. it feels a little bit better. i'm a little glass half-full this year as opposed to the last couple of years. but, you know, first quarters typically the strongest quarter, and it'll be tough selling. i think in general when you see housing improvement and central banks around the planet that keep inflating assets, that's generally a good thing, bodes well for asset managers. >> glenn, joe, and i'm curious, the

the xlf is not jp morgan, goldman sachs and bank of america. it's not the beta. berkshire, wells fargo. i find that less interesting. the xlf is not going to move around. loss of names like goldman, morgan stanley, in particular, that's more concerning. >> i get the other story from these guys, right? those warning signs you're seeing seem to be dismissed by you guys. >> i'm certainly concerned with goldman sachs. that name seems like it's actually broken. been accelerating to the downside while the others are holding up. look at jp morgan versus goldman sachs, see what i'm talking about. it's been outperforming goldman over the last couple days. >> one of the reasons, judge, is because jp morgan is getting that cash flow from europeans that are scared of the european banks. goldman sachs will never get that cash flow. they're not that kind of bank. >> give me the read on boeing real quick. >> they're finally going to do the test of the dreamliners again. that is a good thing for boeing. i think it already played out as far as people have priced in it's going to

turning to earnings from the financial sector, bank of america and american express report today. analysts predict bac brought in $23 billion in revenues in the first quarter. the bank suffered two previous quarters of heavy losses from legal settlements tied to the financial crisis. american express is reeling from 4500 job cuts as it tightens up. it's estimated that the nation's top credit card company earned $8 billion. yesterday, goldman sach's $2.2-billion profit topped wall street's forecast. regulators could be closer to putting the clamps on jp morgan because of its dealings with ponzie schemer bernie madoff. madoff is serving a 150-year prison term for costing investors millions of dollars in a massive money scheme. the office of the comptroller of the currency could issue a cease-and-desist order later this year against the bank. a trustee for madoff's victims accuses jp morgan chase of turning a blind eye to signs madoff was a fraud. "people are going after banks right now because they have a history of looking the other way. there's another case recently filed and pendi

bank of america up huge. i like it. >> earning, these guys think they see light at the end of the tunnel in thermo coal. i'm not sure what you're getting. >> pop for lien ar. >> to me it's a little bit overdone. if you're in it and lucky enough to get that 7% take some off. >> this quarter wasn't that bad. slight revenue miss, maybe another day of a little bit of pain here. but i think on a valuation. >> got a pop for coach, up 10%. >> so eps of 84 cents beat the street estimate of 80 cents. you know, this thing is growing. about 7% and margins are remaining consistent. even though i'm a bear, generally, i think this stock is actually still attractive. >> and we've got a pop for beakers. backstreet is back. members of the larger than life '90s band who are now in their 30s and 40s accepted a star on the hollywood walk of fame. some names that are not on there, clint eastwood, julia roberts. >> i shouldn't have to pick a favorite. they're an ensemble. i don't want to separate them. >> we love them. >> that's b

police say the bad guy's disguise fell apart while holding up the bank of america. kron 4's alecia reid reports. >> reporter: take a good look at this photo. the man you see is accused of trying to rob the bank of america on el camino real. police say on thursday he walked up to a teller and passed her a threatening letter demanding money. as she scrambled to get funds together, he flashed a gun tucked in his waist and urged her to move fasterwearing a beanie, glasses, and plaid shirt, the suspect had on what appears to be a dreadlock wig, and his fake mustache started falling off during the holdup. >> this is funny. this story is too funny >> mustache falling off and he didn't do any serious harm so that's great news. all's well that ends well i guess. while waiting for the teller to hand over the cash, a fellow bank employee walked over. police say the suspect raced out of the bank and headed towards chapin avenue. he's described as a man in his 50's, 6 feet tall and skinny. >> there was a horrible incident here on burlingame avenue a few years ago when the bank ma

i don't even know where you think i'm going. >> i'm the only one who pulled out of bank of america becausee pink's hot dog ad campaign. pink's is one of my favorite hot dog places and obviously, a little softer approach. don draper got on that or is it peggy that had that. was that draper. >> i think he's gone. it was roger sterling in a cynical moment came up with the ad campaign. >> he looked so great. regina actually had dinner and -- john slattery. >> isn't that great? >> yes. >> oh, this is me. >> coming up, the highest-paid ceo. >> i get carried away. we'll tell you who is rolling in the dough and who didn't make the cut. up next -- ♪ ♪ >>> coming up, it's not exactly ocd behavior, biit's certainly something requiring order and nobody does it like jim cramer. six stocks in 60 seconds when "squawk on the street" returns. >>> monday morning, good morning. in the next hour of the program veteran investor jack bogle will be with us and we'll look at earnings season and whether that can pry open the cracks that exist in this market and carl quintanilla will look at the highest-paid ceos a

there is still plenty of risk to a held healthcare plight that is supposed to be winning under the new regime. oh? help from the banks? nobody cared for the numbers of bank of america, or fargo financial and slowing freddie mac, knocked back all of these stocks. come on, these are the big three. bank of america's number, once again, couldn't be fathomed. it sure seems more like a law firm at times than a bank. it's got so many lawsuits against itment at least their quarters weren't viewed as light as the two independent brokers, goldman sachs and morgan stanley, which haven't regained much of their footing and became two of the most disliked stocks in the market. at least when it comes to their book value. did anyone slash their forecast more visibly than caterpillar? talk about missed earnings. if largest manufacturer in the dow failed to deliver multiple caps, even though the stocks flecked those already. heck, two of the largest food purchase vayors in the world, mcdonald's and starbucks, reported to me what looked like terrific numbers. when you dove underneath the hood, some saw weakness, weak comparable sales numbers. critics showed them as a gross margin iss

bank of america closer to 12. i would probably buy more bank america there. i want to stay in financials. then realogy is a name i like. >> bank of america is closer to $12. i'm long higher. >> that's irrelevant. >> does it make you feel as if the market is breaking down? that the financials aren't going to lead any more? that the market is due for that correction and the financials are the canary in the coal mine? >> i don't know. i feel like the financials have pulled back already the last month or so. bank america, i don't know, was close to $13 and jpmorgan also, $50. lower than that now. citibank also, high $40s. i'm ready to reload there. >> hi. >> what's your top trade here going into the new beginning of a second quarter? >> love new beginnings. we are going to have a guest on later that will say what i'm saying. that is a tease in televisionland. i think gold is the second quarter trade. i think to steve's point, if things aren't going to pull back, goldwyns. gld second quarter trade for me. >> are you bearish on the markets? >> yes. look at you putti

it tells me wells fargo and bank of america are going to hit it hard. but this one, it opened at 34 bucks, ran to 38.50. you take a look at other guys in the group. lender processing, lps, similar kind of -- all of these open nearly unchanged. then big activity in both stock and in the case where they had options, options of these, and they ran. clearly one of the outperforming groups today. >> when it comes to tech, pcs are the walking dead. research saying shipments this quarter posted their steepest single quarter decline ever. yesterday we talked about the downgrade of microsoft to a hold. listen. >> that windows 7 enterprise refresh is starting to get old. we don't have good traction in tablets or smart phones. >> i had to sell some microsoft. >> today we got downgrades, sending the stock down about 5%. >> with numbers this bad, sometimes you have to get out of office to ponder what happens next, the question is, how bad can this get? overall the global sales of pcs were down 13.9%. the interesting thing here, down 12.7% in the u.s. asia also down 1

david: why bank of america got hit so hard. >> bank of america, jpmorgan, wells fargo.on of freddie and fannie as well as the fha still mispricing mortgage credit risk. and, there are still being unresolved issues in the banking system about capital requirements for basal 3 and bank uncertainty. david: what about what we still have. you advise getting into bond-like stocks . what do you mean by that? >> well, in essence we've had this outperformance of the more defensive sectors but it is not so much that they're defensive. we're talking about stable cash flows, stable earnings, stable share prices and higher than average dividend yields. david: let me stop you right there. practically everybody says you want to get into dividend stocks. you're saying don't just look at the dividend. it has to have all the elements, stable cash flow and all the other elements? >> exactly. for example the dividend yields last four weeks have suddenly become attractive in the material sector. that is all the stuff leveraged to china. the share prices are fallen and dividends might be at r