central is "squawk box" host becky quick and carl quintanilla. hear what was said on your show this morning because it moved the market. >> you never feel like you know how goldman makes money because they change every quarter. the next couple of years it will be debt market focus. >> "the call" one of the reasons, if i understood correctly, not about the bank so much as the muni market, right? isn't that what she said? >> a lot of activity. the local municipalities and the states have to raise money now. >> issuing debt. >> they have got to do it. >> cut spending? no, why would we do that? sorry, a little commentary there. >> [ inaudible ] a lot of debt underwriting, a big story. overall, her call is not great about the economy at all. >> no. >> unemployment. >> problems of the consumer going to continue. she said once she figured out the model for goldman, the model, once she got her head around it they will be making money. interesting thing, tomorrow, the street is looking for a consensus of 3.48 for earn goldman, a much higher number,

. >> i'm carl quintanilla, sitting in for lester holt.e who's ever had a bad experience flying is going to love this vie value video story. >> this is a great story. this is actually a great story. this guy who lost his guitar is kind of making out in the end. >> 3 million hits on youtube. the song is called "united breaks guitars." >> it is a little catchy. >>> speaking of the airline, the tough economy is forcing them to slash fares. there are eye-popping deals out there. beaware, there could be a catch. much more of what you need to know about that coming up. >>> >>> we're calling it a very, very modern love story. we'll meet a woman who found the man she's going to marry by typing her own name into a search engine. it is an adorable love story that you've want to hear. we've all done it, we type our names. >> really? you've searched jenna wolfe? >> come on! you just admitted you searched carl quintanilla. >>> first to our top story, the american soldier apparently captured by the taliban in afghanistan. now seen and heard on video. nb

i'm carl quintanilla, sitting in for lester holt, along with jenna wolfe.our, you finally get a summer job and go to work? >> this is the first time. lester, amy robach and i all took part in summer jobs. mine was lifeguard for the day, trying to get as authentic as possible. we went down to the jersey shore and i went through all the tests here, a little a la bay watch. i will complain no longer. we had a blast and i learned a few tips along waet. >> you are a championship swimmer. >> yeah, fourth grade and fifth grade olympics and i think i qualified for sixth grade olympics. i was all over that. >> can't wait to see that tape. bringing you what we're calling the lazy person's guide to good health. so many times, people want to go to extremes, workout, eat really well. how little you can do to get by and still get result. >> that's what we want to know. >> yeah. >>> on the hunt for great new snack foods and drinks. wait until you see what he has found. get out your grocery list. you'll want to try these for yourself. >>> you've probably seen this dance pa

i'm becky quick along with joe kernen and carl quintanilla. our top story today takes us inside earnings central. goldman sachs reports second quarter opening results before the opening bell today. the financial powerhouse is s expected to post earnings of $3.50 a share on revenue of $10.7 billion. meredith whitney upgrading shares of goldman early yesterday before joining us on "squawk box" to explain why. >> it's a bearish call, but a bullish call on the stock. >> on the stock. >> just as you were talking about, you'll see a tsunami of debt issuance. where you think goldman would be a pure play equity trade, it's the number one underwriter of build america bonds, a top underwriter in munis, playing heavily in the mortgage-backed market. i think in the fist quarter, they played heavily in the markets. >> whitney thinks goldman sachs will earn well above estimates that the street the looking for. rallying almost 78% since january. guys, her estimate was above $4.20 a share. >> was she talking $to next year? i can't remember what she said about

i'm carl quintanilla reporting from new york. for lester holt and all of us here at nbc news, good night.

i'm becky quick along with joe kernen and carl quintanilla.have quite a show in store for you today. social security social security may be called the third rail of the american politics system, but no issue has stirred more debate or more passionate arguments than health care reform education and what's been happening in washington right now. today, we are tackling the issue that everyone is talking about in a way that only "squawk box" can. we'll have the problem, the proposals and what it all means for your pocketbook. >>> america's health care crisis, a squawk summit begins at 12:00 a.m. eastern today. and our guest lists include former vermont governor and dnc chairman howard dean and former senate majority leader bill frist. plus from two different parties, we've got two different administrations. donna shalala and the man who served in that same position for george w. push, tommy thompson. we have republican senator judd gregg and john yarmuth. corporate america is a big piece of this organization and we'll be joining by billy tauzin, t

i'm becky quick along with joe kernen and carl quintanilla.d day, everybody. after months of speculation, a yahoo!/microsoft search deal could be announced as early as today. yahoo! reportly won't by paid in advance. instead, these two companies are expected to share revenues generated by search ads. it's been something that's been talked about for quite some time, guys, but now it looks like it might actually be happening. >> and those are two results where the quarterly numbers weren't all that good for either microsoft or yahoo! so they could definitely use each other's help. although there is conflict about whether this is happening today or not. >> they said it could happen as early as today. i tend to side with the journal on most things. they actually haven't sources. my favorite part of this story is the failed bid that we're talking about that microsoft made a couple of years ago. for 30 -- what was it? >> $47.5 billion and yahoo! said no. >> guys, wait. time warner is out with earnings. it looks like an adjusted 45 cents a share. the

i'm becky quick along with joe kernen and carl quintanilla. on the agenda today, corporate results ready to hit the tape. we are getting into the heart of earnings season before the before the numbers today, we have nokia, charles schwab, nokia, marriott on the list today. analysts are sfekting the financial giant to earn 4 cents a share on revenue of $25.9 billion. shares were up nor than 6%. >> how about this week? >> after what we heard from goldman sachs. >> it went up with goldman sachs two days ago, but then it went up yesterday and was part of the number, the huge rally that we saw yesterday in the financials. there it is. so these will be, as they always are, so difficult for us at first to figure out what's going on. so many different things to look at, the revenue numbers, and you talk about a profit of 4 cents. you can't put the price on a 16 cent per year profit. >> but this will give us a better idea of the economy than the goldman sachs numbers did. a big bank that has a lot to do with the consumer. >> and you saw these blengt we

i carl quintanilla.u know, earnings season is in full swing with the stakes so high for the market. the most decisive earnings season we've seen in a couple of years. we decided to take matters into our own hands. we welcome you to earnings central. we're rolling out the new home, complete with all sorts of technology, capable of giving you the numbers the second they hit. plus all the analyst tools for the full story. joe and becky are over, manning premarket condition. if earnings were to hit right now, it would take you how many seconds to deliver analysis? >> you would see me jump into action. >> wait, that's the wrong one. >> today we're expecting a couple. >> that's a big deal. >> tomorrow. goldman sachs. >> we're previewing this and working the bugs out to some extent. >> four times a year. we've been here 19 years. ready-made news. the most important stuff we do. to get it fast and accurate. an earnings report is never the same. you have it figure out which numbers are used. to compare to what ex

i'm joe kernen along with becky quick and carl quintanilla.nd our top story today, of course, the markets, the dow closed above 9,000 for the first time since january 6th. the s&p finishing the day at its best level since november 2008. the nasdaq chalking up its 12th straight session of gains. the blue chips turning in the best values since 2005. in '82, we were still at 800. but that's what they say, you can have these cyclical bulls maybe in a long-term vary. we don't know if that's what we're doing. >> 18-year bear market? >> i said we ended up in '82 at 780. go back to march et when the dow hit a 12-year low. since then, we've watched the index go through. we're at 9,000 and as it states so eloquently here, that because it's at 9,000, that means we've watched it go through seven and eight. >>,000? >> yes, on the way to nine. >> there have been a lot of skeptics along the way. >> i just want to point it out. we didn't go from 6 to 9, which would have been mathematically impossible. we did go through seven first and then eight. the blue chi

i'm becky quick along with joe kernen and carl quintanilla. after a major selloff, dow futures up 26 points above fair value. let's get to our top stories this morning. google announcing it is developing an operating system on pc based on chrome web browser. it will be available second half of next year. initially aimed at notebooks, compaq computers. will it be given away for free. what does that mean for microsoft. >>> july demand dipping to 5.4 billion worth of loans down from $11.5 billion last month. >>> president obama arriving in italy this morning for the g-8 summit. agenda items include global warming, trade, iran's nuclear ambitions, economic stimulus. steve sedgewick standing by at the summit in l'aquila. steve, good morning again. >> reporter: good morning. see behind me security personnel beefing up presence in what will be three or four hours time a visit to this earthquake zone. behind me the old town, still a ghost town in l'aquila, 307 people killed in an earthquake in early april, still tens of thousands of people living home

i'm carl quintanilla reporting from new york. for lester holt and all of us here at nbc news, good night. Ñ >> hi, tom. >> jackie wrote from the tiny town where they set anchor of tom's great time here with surfing. typical little happy child. >> at the time, ritz junior was 6 and michelle was 3. dick asked about their well-being and donna assured him that everything was fine. she also said that her new boyfriend was good with children. the new boyfriend was michael kent, who had a son of his own named jamie. kent, donna and their children lived together as a new family. one day, in the summer of 1969, dick made an unannounced visit, but no one answered the door. so he left and came back a few hours later, but still no answer. >> what at that point did you think had happened? >> i just figured they were gone for the day. because nobody there was knocking on the doors and you know, looking over the fence and stuff. there was just nobody at the house. >> it had been awhile since dick had vsited his children, so he wasn't sure what

i'm becky quick along with joe kernen and carl quintanilla. top story this morning is earnings central. intel shares soaring as the chipmaker posts better than expected second quarter profits, the company earning 18 cents a share when you strip out items. that was 10 krerts better than the street was expecting. at more than $8 billion within it handily beat analyst expectations. quarter over quarter, this is the best growth that the company has seen since 1988. stacey smith spoke with jim goldman last night. >> our second quarter results and the outlook we've set for q3 i think is to reinforce the view that we had a quarter ago, which is that we saw the computing markets bottoming in the first quarter, we saw improvement in the second quarter and we expect to be seasonally up in the second half. >> all of that helped intel soar on this news after hours. we'll dig deeper into that story in just a few minutes when jeffries analyst adam benjamin joins us. >> that's right. abbot labs, commerce bank shares and gannett will be reporting before the o

i'm joe kernen along with carl quintanilla. becky will be back tomorrow. out on this show. our guest host today, former new york mayor and republican presidential candidate rudy giuliani. futures at this hour, a little bit weaker. every day, like yesterday i was surprised that after, down a lot of the session and with the vichlt. xich vix, up, we're looking at dow pressure this morning. you would have to say some results we have seen were not as good as the first two weeks. maybe lower than revenue, but viacom and coach were neither -- >> the guidance the first week or two were bright arer than the stuff -- >> you had to characterize it, yeah. >>> a couple names in earnings central this morning, viacom did beat the street by a penny. revenue fell short, dropping amid, slower video game sales and fewer movie releases. mcgraw-hill posted 23% drop in profits, 28 cents a share. revenue was in line. but the company still lowering its full-year outlook hit by weaker demand for textbooks at schools, credit ratings on mortgages and complex debt. also the advertisi

i'm becky quick along with carl quintanilla and joe kernen.been watching the futures and they are well above fair value, even after five days of gains for the markets last week. dow up by more than 60 point above fair value. >>> the government's bailout, warning banks have misused t.a.r.p. funds. they say out of 360 banks that got money to raise lending levels, 110 of them invested at least some of it. 52 repaid debts with it. 15 actually used money to buy other banks. he is calling on treasury to require regular, more detailed information from recipients about how that money is used. we'll be speaking with him tomorrow right here on "squawk." >>> a rescue for small lender cit. steve liesman is all over this story. he has the details on this last-minute reprieve. >> does that mean right now? >> that means you. >> i thought you were teasing me for later. why are you looking at me, joe? >> someone says to me, steve liesman is here with -- >> he was checking his blackberry. in his defense, he was probably looking for a last height mif update. >>

i'm carl quintanilla along with joe kernen.ky is off but our guest host with us for the next two hours. thank you for coming in early. we're getting a lot of wood shop this morning. europe's been green for most of the morning as we continue or try to continue the rally that's brought the dow up 12% in just a couple of weeks. here are some of the stories we're following. the fed chairman says last year's big bailouts made him want to, quote, hold his nose but he told a kansas city town hall meeting they were necessary to avoid a financial system collapse. >>> yahoo! and microsoft reportedly close to a search deal. the journal says yahoo!'s board will meet thursday to talk about a potential talks. yahoo! asked for upfront payment. >>> aetna out with earnings following short with corning, honeywell, verizon still to come. >> corning's here. i don't know whether someone is messing us up. they're saying nongap but i don't think that's right. excluding items the company earned 39 cents which is 7 cents ahead of expectations on revenu

this is becky quick, carl quintanilla is here, as well. proud father. any sleep this weekend?>> no. they eat every three hours, which nobody told me that. >> oh, yeah. >> not in the -- instruction manual. >> have you changed all the diapers lately? >> yes, i have, but don't ask judy that question. >> let's get right to the markets. george dowd of new edge is standing by at the cme. george, how long did it take for all the green shoots to wither up and die? >> not too long. >> they were weed peps that was a terrible employment report. people look for a scintilla of positive reports. no one found it. are we in a full correction mode or sideways? >> i don't know about full correction mode, but we have a bit to the downside in the s&ps. so i think you're probably going to see a lower open, the market will trade down from there, but i think it's important to see how we move into the day after the first hour of trade. if the market stays pressures and we can't make any new highs after the first hour, i think you're supposed to play for a week of risk reduction trade. you'll probably

i'm joe kernene ang with becky quk k d carl quintanilla. est host today, davidd roe rosenbnber n nowhief e ecomist and s sategist with gluxken eff. it's's ringo str'r' birthday. wewe'lplpl someeatlessongs and some of his o own -- i knonw it's m micel jackson's morial today. >> andnd h m morial service.8 wewe'rnonot i iororinthat.. >> no.. w wil get plelentof cererag dada >> we're n notakakinany preferercece. choices erere. anand my life, as i've gotten ol i readnn articic on rgogo sang yesterday he'slways bebeenorort the luckyky btltle, they callele him,to accece st in that group. he wasblble play a song wi the d dru itetead of jusus plplayg g e rhyhyth o ckup. >> who is better?? >> i think s see therere a more --- you kn, the guy with dd zpepen, i'm sure they were more proficient,t,ii eses but it doesn't meanthey'rebteter. >> minimalist approach. >> andust grgrt. he's l lee george simpson. i'm going to go arary. sorry. >> we'rere going to talkbobo ththisoday. would like to chehecknn what's happening ininhehe ps right now. anding by at the

i'm joe kernen along with becky quick and carl quintanilla. big story today, the new general motors already ready to officially exit bankruptcy. it could be as early as today. the company is spending the night signing paperwork, authoring the transfer of cash, real estate and technology and other property. the government backed bankruptcy process took just 40 days. yesterday, a court, a bankruptcy court ruling let gm sell most of its assets to a new company. and the automaker will emerge without some of that debt. fritz henderson will join the company in the morning. >>> the treasury department led 1 packages and remember, these warrants are the things that the government still held after banks took money from the tarp? that was the thing that was supposed to allow the taxpayers to make up? but this report says that the taxpayers passed about $10 million of profit from government bailout. today's watchdog report states uncle sam could lose about $1 billion if it accepts similar warpts that gol going to be purchased by other big banks that rece

i'm joe kernen along with becky quick and carl quintanilla. this is like march madness for us or october for a baseball player. this is earnings central when the week when most of -- i thought, you know, you were originally scheduled out. but because of your love and your -- >> i wouldn't miss it. >> no. and today, five dow components. we already have dupont, came out with results in the last half hour. i'm waiting to get an indication about whether the market likes it. still too wide. >> the bid keeps coming up, though. >> yes. 5 krebts versus estimates of 53. however, like we've seen some so many cases, the revenue number was below where the street was and the company continues to talk about cost cutting. to make these better numbers. sales fell 23%. a lot of that was forex related. and the outlook was confirm for the year from $1.20 to $2. they just beat by 11 cents in this quarter, so we have an abdomen list saying probably you'll see the street come up to at least $1.80 or so and still not know about the recht of the year, but come up on

i'mm b bec quick alongitit carl quintanilla. joe is out today. we have a teded agenda..ilersrs ar repopoining ne salesumbe

i'm becky quick, along with jwih joe kern and carl quintanilla.ned this morning by congressman paul ryan. you didn't know what you were in for, mang man. but you are here for three hours. we've got a ton of things to talk to you about. just about every story has a washington angle as well. >> that's the new financial center of the world. you guys ought to film us from down there. >> you're right. we should be based there. we cover america's business in washington now, unfortunately. >> the congressman will be with us for three hours. we'll hope you'll weigh in on every single story. the top story, cnbc confirmed the cit group's board is reaching an agreement with bond holders. this happened last night. a deal for a $3 billion in rescue financing coming through. we have learned that the liquidity facility carries two and a half years for a term. and parts available immediately. the fund should help cit avoid bankruptcy for the short term. there are questionses about the long-term ramifications. an official announcement is expected before the market

i'm becky quick along with joe kernen and carl quintanilla.nd our top story this morning takes us to earnings central. we are expecting quarterly results from five dow components before the opening bell. talk about a day. we're ready to go. we're expecting a number of other noteworthy names today. we'll be watching for numbers from dupont, merck, caterpillar, united technologies and coca-cola. over the last 12 quarters, d dupont has surpassed earnings 75% of the time. analysts are forecasting caterpillar will earn 22 cents a share, down 87% from a year ago. shares of the equipmentmaker are down $8 since january. coke, meantime, is expected to post a 12% drop in profits. we have dupont coming out right now. >> i'm seeing dupont. it says the second quarter include net share charge for items. so the 46 cents, i think you may need to add 15 in there to 61 versus expectations of 53 on sales of $6.86 billion which is, like, flat with last quarter sequentially, but below the $7.15 billion that the street was looking for. that's a 22% drop in sales. a

i'm becky quick along with joe kernen and carl quintanilla.ot awake, you better get there fast. it is thursday, july 23rd and this is the busiest day yet for earnings. we've got earnings and the economy. but on the corporate docket today, listen to this, quarterly results from mcdonald's, at&t, ford, bristol myers, hershey, nor tr northrop grumon, you've got components of the s&p 500. let's talk about some of those components right now. analysts looking for the home of ronald mcdonald to rise by 3%. and here is an impressive statistic. over the last 12 quarters, mcdonald's has never missed expectations. at&t is forecast to earn 51 cents a share. that would be a 33% drop in profits from a year ago. revenue is expected to decline to $30.7 billion. with the market caps. the final dow component on the bell this morning is 3m. consensus is calling for the company to earn 94 cents a share on revenue of $5.4 billion. guys, it is a busy, busy morning. >> is it the busiest day of the season? >> so far. >> which is hard to believe. >> you thought it's b

i'm becky quick along with joe kernen and carl quintanilla. thne

i'm becky quick along with joe kernen and carl quintanilla.riday and our top story today, stocks are soaring and knocking down records in the process. let's start things off with the dow. the blue chip turning in the fastest rebound since 1975. i think that's when they strong was out, right? you can go back to 2005. since then, we've watched the index breaks through 7,000, 8,000 and 9,000. by at a, if you do the math on that, you'll see of gain of 38%. we are still below the highs that we reached. the dow finishing its highs yesterday. the blue chips are still down about 36% from the record in 2007. there was strength across the board, though, yesterday. materials leading the way. we had financials up 3%. remember, this is over just the last nine sessions or so that you have seen gains of about 11% for the dow and the s&p. the nax dak, by the way, up 12 days in a row, the lockest winning streak we've seen. >> we have cashin on today? >> we do. >> he was open to this happening, but he still had a negative bend. remember, at first the market had

i'm becky quick along with joe kernen and carl quintanilla. earnings season officially opens for play this week. as always, dow component alcoa is kickin

. >> i'm joe kernen along with becky quick and carl quintanilla. on today's market jaent, earnings and more earnings. we're going to look like eli littlery right now. before the bell, we've got things like boeing and pfizer. morgan stanley, u.s. bancorp, wells fargo, eli lilly, illinois tool bank of new york mellon. boeing expected to post a increase in profit year over year to $1721. revenue seen rising. as for pfizer, it's expected to earn 47 krentsd a share rove knew of $11.3 billion. how are they often performing during this earnings season? >> i'll tell but lily real fast. this company coming out westernings better than expected. it's now talking about a range of $4.14 to $4.are 25. on earnings per share, leigh at the gas -- >> well, the street is already at the high end of that range for the year at 423. so they're looking at 414 to 424. other than that, we see something coming in -- >> $1.12 is 10 cents a ahead. 4.23 is the estimate for the year and they're talking about, as you say, 420 to 430. >> they say they raised their guidance because

carl quintanilla will be back here on monday. futures at this hour, let's take a look.. >> they're excited. >> call my agent.t. i can't work like this. let me give you a quick -- is that crying? a quick rundown of the morning's headlines. the obama administration working to protect the cash for clunkers program, the transportation secretary notifying key members of congress yesterday that the program would run out of money at midnight but cnbc has learned that the administration and congressional officials are congressional officials are trying to keep it up and running. autonation ceo mike jackson autonation ceo mike jackson joined us in the last hour. >> this is working on all levels and i know they don't have the and i know they don't have the immediate source of funding figured out, but i fully expect there to be additional funding for cash for clunkers. >> cash for clunkers gave up to $4500 cash rebates. we've had a lot of back and forth on this. once you acknowledge you're going to do a stimulus, then you might think this is a good way to do it because it actually

i'm joe kernen along with becky quick and carl quintanilla.d is also one of the notable names reporting quarterly results before the opening this morning. our phil lebeau is at the company's headquarters in deerborn. is it going to be earnings or a loss today, phil? >> i think we're going to see a loss, joe. >>er you're going to see a loss. >> we're going to see a loss. they're not quite to the point where they're back in the black. they're moving in that direction. the second quarter earnings were eagerly anticipated by wall street. here is what the street is expecting. a loss of 48 cents a share. revenue coming in a little over $24 billion. that's what the street is expecting. two things will be the focus on the second quarter. liquidity and debt level. it is expected that they're going to see cash on hand, if you will. it doesn't mean ford is running out of money recently. check out what happened of the last three quarters. they have essentially cut the catch rate in half. down to punching to 3.7 last yarer. and then don't miss it, 12:10 to