cisco got upgraded today. cisco has not been as difficult as some of the bellwethers like microsoft. what's your take on the cisco upgrade? >> cisco upgrade comes at a very key time, talking about the enterprise. everybody is looking for some kind of rally towards the back half of 2009. every indication is that cisco is seeing very good sort of staunch in the whole marketplace now for its enterprise customers and now the company is also moving into servers, moving into consumer. this is an interesting company and an upgrade today suggests we're going to see not necessarily a steep increase in recovery, but a broad one. >> the guidance very important. jimmy, stay with us now. is investment in the internet completely dead? it is according to our next guest, managing partner with the firm formula capital. hello, jim. >> good to see you. >> i've always said tech, at least in the last ten years or more, tech will break your heart. you went further, the internet is dead as an investment. and you lumped in cisco, as

>> i think cisco has always had a track record.hen we go through a downturn, we see that as an opportunity to focus and prioritize and act on some of the things we feel are important to be investing in when we come out of this downturn. so we are very aggressive in areas that we feel are critical for the future, such as video collaboration and future growth opportunities for us. >> i want to talk a little bit about your story. i'm joined here by carrie, and we were talking about your rise to become chief technology officer, born in india, originally educated overseas, but then coming here to the states. are you beginning to see a lot more women in key technology roles in the silicon valley, or are you still one of the few, the proud? >> oh, i think we are beginning to see more women in science and technology than when i started my career almost 25 years ago. i can't say the numbers are where i would like to see them. i am always very passionate about seeing more women get into science, technology, and engineering and pursue careers

cisco, what are we talking about? we're talking about technology that has a tremendous amount of cash. are you talking about a sector that is best positioned to come out of this crisis. they went through this in 2001. they understand it. google, apple, microsoft, they all basically in essence going to war with each other, creativity, innovation. that's what comes out of this. that's beneficial to the market. that's beneficial to the sector. and that's why the sector is up nine days in a row. >> and when you talk about the stocks, what do you look at? the very first thing you start to look at is the balance sheets. they have incredible balance sheets. >> that hasn't changed. >> you're right. it hasn't changed. i'll tell you what, the gross margins from last week, that spoke volumes. if the numbers they put out if, they're improving there as well, that's going to be something that's going to propel us that much further. because the semiconductors, they've been moving to the upside. you start to get cisco, you start to g

led higher by cisco, higher from credit suisse, price target, up higher, $25. cisco up 275%. firms saying that cisco is seeing steady, modest improvement in enterprise business, not sure if it is sustainable, up in theless, lit a fire under the shares, certainly helping the rest of technology, yahoo! is higher, apple higher. jim goldman at the top of the show saying big earnings after the bell for yahoo! and apple. microsoft showing unchanged now, but texas instruments is going to be closely watched with its earnings report after the bell today. give you a real good idea of what is happening in the chip space, advancement on amd there. finally, i know mike huckman will talk about human genome, shares up 200% or so on positive developments related to its lupus drug. more from mike in a few. but down to brian shaktman. >> thank you, scotty. weak dollar, strong equity trade affects oil petered out. look today, we slipped into negative territory several times, up about a dime right now. basically, a couple of these se sees involved here. we need strong data. other people see a bi

keep this in mind with cisco, large-cap technology, cisco has the highest correlation to gdp growth. we keep talking about this, gdp growth, quarter on quarter. quarter on quarter. if we get a good move, cisco, tech. >> let's move on the next trade. we've got a great guest lined up here. the cybersecurity threat continues and we hear from a leader in the space. mack afy reporting better-than-expected earnings. joining us from san jose, mcafee's ceo david dewalt. welcome to the program.. great to have you with us. >> thank you. >> what are you hearing from ceos and the heads of the companies in terms of their outlook for the rest of the year and their plans to spend on antiviral and security-type software? >> well, we've been fortunate. security's one of the top i.t. sectors out there, i mean, worldwide we're seeing a lot of threat landscape increase, cybercrime, terrorism-type activities, and it's driving our business. corporations need to protect themselves. governments need to protect themselves. consumers need to protect themselves and it's driving our business, so the demand's be

the talk about the newcomers cisco replacing a ig city group in gm why do you feel these companies along with the rest of the doubt components are the best mix of companies to reflect the future economy? because they represent the various industries that make up the economy. cisco is very prominent in the technology area kraft foods is a consumer goods company like general motors obviously a different kind of consumer goods but nonetheless represents consumer buying beans that they need and want. travelers is a financial company finances has become a big part of the american economy is has some trouble lately having some still but nonetheless insurance and financial-services are very big parts of we are today. as we progress through the information age what about a big internet companies like global having a place in the doubt be see that? it's possible right now are technology representation is really quite strong i think. the hold industry segment sector what everyone a call is very adequately represented. a dozen means that if technology becomes a larger part called the american econo

cisco certainly has the power to do that if it comes out with good earnings. the thing i worry about buying cisco is that it's been a little overbought as of late. i think if you bought the xlk, the technology etf, you could play that and still have a little more room on the up side too. plus the action on that is really cheap. you can get in on the call side simply. but today's a weird day for me, the fact the market hasn't rallied a ton off the weak dollar. >> and it's a weird day too on tech because tech isn't really leading it. it's material stocks and some of the miners. but if you step back a little bit, the gold and the steel stocks within materials haven't participated in that market-leading rally for the past month.. >> that's true. and today the reason gold is moving i think is because it got a little panicky when the dollar really was on its lows. and i think and the pure panic play remember is just buy gold, forget about everything else. that's why oil didn't budge on that. gold and silver were the big gainers there. and to me that was a little wor

and again led by cisco systems. let's go to shack at the nymex. >> we're back to the correlation between crude oil and the s&p 500 and the dollar. remember on friday we actually had a stronger dollar and oil was to the up side. basically, the bullishness of the housing data led to that gain. if you take a look at the intraday chart, though, we did dip into negative territory a couple times before, finishing in the positive part of the territory. now, steven schullk telling me the next key levels are 67.29, if those are breached to the up side we could hit 75 relatively quickly. if we don't breach those to the up side the down side way back to 50. but that's a worst case scenario for the bulls. nat gas, it's the weakest in the complex. the ceo saying prices of nat gas not going to come up anytime soon, the supply picture doesn't merit it. gold flirting with the 950 area. the conversation is once again can we get to 1,000. george jeerer of rbc says we broke through some key levels to the up side despite bearish fundam

cisco up 6%, another chip-maker, altara up 5% and microsoft, up 7%, advanced micro up 9%. these are big gains. tech has been a breakout story all year, quentin, is it sustainable and what do you think about the rest of the earnings report. >> i think cisco is a legendary story and i'm not shy about saying it. you can't call it monopoly share but it is big and they grow into other areas and now in vate. microsoft have really big share and try and innovate strong. dell looks a lot like a one trick pony. hell of a supply chain, got it right, everybody learned how to do that and they don't innovate the way the others do. >> i think their hardware is subprime, we use it in the newsroom, i'm so down on dell. >> cheap, what else can you say. >> i'm not an expert and if the dell people criticize me, i stand corrected. i am spin inning my kudloan vest it's a hayakian point of vuchlt you want to bash me, fine, i don't see the top line revenues or top line economy. i think if we get a recovery in the second half of the year, it will be barely noticeable, if at all. but all the bad ec

cisco, a lot of people think of sysco, the technology company, think of cisco, the food company and weave ebay. are these the same thing? they are two online companies, do trade together even though one is a merchant and one is all together an advertising company and ebay better than expected quarter i've been buying for my travel trust. i think we should make a change, exit google now that ebay is on the upswing, how about we bring in a -- i don't want to do tech, i want to do -- we've got some health care, i think we should bring in a financial, i think we should bring in goldman sachs or jpmorgan, i think those will be better. to michael in new jersey. >> caller: hello. >> hey, mike, you're up. >> caller: hey, cramer, ba-ba-boo-yah from new jersey. >> stuttering boo-yah "from the garden" state. >> caller: ticksers are tit. >> titanium metal. h ben, tez, pds and ote. aim diversified. >> we will let everybody know by looking at the actual stocks, no, we have to give people more information than that. we speak of ote, we're speaking of the greek telephone company. when we speak of pds,

i have cisco foods, ebay, google, merck and disney. >> cisco foods, ebay, google, merck and disney.ther one that's very tough. i'll explain why in a second. merck had a good quarter. we love fred hassen. we have to give him a hand. he sold schering-plough to merck. he made everyone very rich. disney, we know we like bob ayers. it's a remarkably resilient company. cisco, a lot of people think of sysco. i don't think they're having -- they've not done well here but have a doesn't yield. we have google and ebay? they are two online companies and trade together, even though one is a merchant and one is really kind of an all-together advertising company. ebay a better than expected quarter. i think we need to make a change. i feel we should exit google now that ebay is on the upswing, and maybe we bring in how about we bring in a -- i don't want to do tech. i want to do -- we've got some health care. i think we should bring in a financial. i think we should bring in goldman sachs or jpmorgan. i think those would be better. let's go to michael in new jersey. michael. >> hey, you're up. >>

the big story is cisco systems. getting the upgrade from neutral and they talked about improving business conditions. steady and modest is how credit suisse talks about improvement for cisco. they are measure and they do say they are not hearing about significant and robust improvement. at least on the order front seems to be helping a little bit with a slow down from overseas. they are watching for earnings. yahoo, apple and key numbers that will come after the bell tomorrow. texas instruments are giving a good read and ebay is later in the week. clearly the ninth stray day technology is to the upside and much has to do with cisco up 3%. >> thanks so much. two things washington is talking about. first the new report from the t.a.r.p. inspector general saying government spending to cushion the effects of the financial crisis could reach $23.7 trillion. we will get you more details as soon as we get them, but the president is using this to try to keep reform on track. john is on that. >>>. >> we hit turbulence with s

when busininesses art spending again, cisco will bebe one othe first t to go hier. also like disneyey. i rerd it as a play on cheapaper gagasoline, pecially now we understand j just how ch a farce the oils future markrket is,ased on how easily y speculors and nipulators can push pricices up. dumping disney?? big mimistake. wh about the stock he's buying?? insana iusing the cash from these sasales tooad up on bank of america, citigrououp, wells fargo, jpmorgan, andnd buying another nk, huntington bank shares. but he's a also bung hovnavian, lenn. and his buying toll brothers, based in mymy hometownn o pennlvania. where do i stand on n these? yay to the banksks, nay tohe home buiuilders. come n, i would fight ron tooth and nail on these. i have said d that we t a housing g bottomt the end of june but that doesn't m mean appreciatition, it jt means use price stabilizatioion. at these priceces, thas not good news foror the hombuilders that nsana likes at all. they neeeed to s house price appriation. that's n what's happening. ny of the houses beingng closed now are fore

i look at tech, look at companies like ibm, companies like cisco, companies like intel. they're very well run companies. you have to believe when this entire global economy turns around, they're going to do well. the question is, when does that happen?? right now, i don't think there's enough convincing evidence that will happen soon enough for the rally to continue. >> the other big guys intel was a barn burner. last one, what about microsoft, they're going to report soon. a lot of questions about microsoft, just as there have been many years, what's your take on microsoft? >> i don't know what microsoft is going to report. i think i see good things for microsoft. >> i have to hear you on hewlett-packard and cisco one more time. speed of light, hp. they're knocking dell out of the ballpark.. we have these lousy dell machines in the newsroom. hp, do you like it or not. >> i like hp because they have a stronger consumer businesses and consumers are buying more pcs than businesses. cisco, i like them because of technology, router and switching business not doing the best b

give credit to cisco. up 3 1/2%.credit swiss say that the company is seeing steady improvement in the enterprise business. can't say whether it's sustainable or not but the mere fact there appears to be improvement on cisco's enterprise business, good for the over whaul tech landscape. you see the large cap technology stocks on the move to the upside ahead of earnings this week. i think tomorrow after the closing bell it's "yahoo! and apple, texas instruments has earnings after the bell today. it doesn't trade here at the nasdaq, of course, it's still a bellwether for the chip stocks. it's going to be closely watched. tech shares are up 1%. you're going to get a good indication on the consumer side of technology, on the likes of apple. and the business side, yahoo! for example, texas instruments, cisco leading the charge today. >> thank you, scott. mark, back up to you. >> all right. oil, up 67. brian shactman at the nymex, what's going on? all of a sudden we popped back up above 65 bucks. >> you tee me up. at one mo

cisco's always lked at as a bellwether foror technology.ost m mak the case i could be a bellwetheher r r e economy y aselell. >> cisco setetititse in t ts perfect position r rhtht n. cutting costs, tonss o cash on e e delines. it c canacquire. it can grow its earnings internallylyhahat y. and you kw,w, theyerertaly are a a ader. cicisc micronon, intel, microso, lilike said, thohose are the gu you want to stiti wh right now. the dow movovgg downyy about sen points. i just want tootot here owow. >>> about 1010 1 1/3 points or . aryou using theses pullbackcks buying o opptutunies? >> i am,m, but i'm utious o one llllbas. i like g g l lon here at tss leleve b butlike i said before, we saw investors buyuyin at t t money calls, maybe sellllinanan furtrtr r ou of the moneyalal ainst thatoo veve yourself me protection. i'm not in love w wh the market right herere but you do tend d o buy here on ththe llllbas. i don'tt think we crcrh h ou i don't think k argegeon's cong even if weerereak this 880 level.l. there's too much liquiuidi i i the marketetp

cisco i like it, i would buy it here. >> cisco's balance sheet is incredible just like intel and just like everybody in technology, i still think when we talk about dell floundering around right now, they're tied to the consumer, they still need to show us growth. intel did that. they went out and bought a software company. they bought winn, they paid just under a billion dollars. they are showing us on they're not done. they're looking for growth. that's something important in this market. cisco also in acquisition mode, so is oracle and ibm, dell's got to do the same thing. >> let's move on here. but a reminder we'll go deeper into the google earnings as well as ibm earnings later in the program. >>> let's switch gears because another sector on fire was commodity. oil jumping back to 60 bucks a -- 62 bucks a barrel. copper up 4%, one-month highs. metals and mining stocks were among the day's best performance. what do you make of it? >> i heard you talk about it on the "fast money" halftime show. >> when is that on? >> 12:45. >> very good job, boys. >> when you look at china, what is

a handful of tech like ibm is weaker as is intel and cisco. really a mixed market even within the banking sector, jpmorgan lower, bank of america higher. not a real trend to point out. >> biotech has been doing fairly well as the nasdaq trying to get back into positive territory. coach is reporting a 32% drop in second quarter net income. up next, lieu frank further explains were the company is making a big growth push right now. >> after the bell, another exclusive one-on-one with sam zell. find out when he thinks tribune could emerge from bankruptcy and how about real estate. we'll talk to the equity group investments chairman. >>> welcome back. coach shares down today about 2%. $27.85 last trade. reported net income was down to $14.8 million in the fourth quarter, matching wall street estimates but down year over year. despite the down trend, the company is continuing to expand planning to open 20 new retail stores in north america it, expanding store sales in china. we're joined right now to talk about the road ahead with the ceo of coach

s a an analyst says, cisco could be cutting up to 2,000 jobs in the near future. amazon and google are set to report earnings later this month. majestic research, john, good morning. thanks for being with us. >> good morning. >> i was reading over your notes. it's fascinating. let's start with google. i'm reading expectly between the lines, the two main drivers of business are, key word -- >> yeah, now, key words are, i put in the word, farfignugen and google will have sold ad strks th s that will pop up. >> consumer word, peedia shows up at the top advertisement for that because they're a relevant ad for that word. >> how are they doing? >> we saw an acceleration on the back half of the quarter for google. what's happening is q-1 and most of q-2 the ad prices on the ads have been falling. consumers have been buying less stuff online and therefore the value of that ad was declining. the back half of q-2 we saw stabilization. one, we saw the price of the ad stop falling and we saw consumers start searching more. their demand for products was actually increasing. wh

>> certainly it involves cisco.ters that we need and the connection spots and it involves sun. sun's our -- >> the oracle. it can now be oracle and we involve that. it's probably not a true software company or hardware company that we don't use in some way or some fashion to deliver this. this is not tv and this is not where you can turn on a box that's been around for 60 years. it requires the work of a lot of companies. you mentioned a lot of them. >> how far ahead are you, and i mention this because, for instance, my kids, i don't believe will watch tv. i think they will watch this. this product, by the way, seems to get better literally by the month. how far ahead are you of what everybody else will be doing and do you believe in my thesis given that the mobile internet is the biggest thing. you've been involved in technology from day one. is this the biggest thing we've ever seen. >> i think wireless is. >> we got blessed to set up the business and we've been blessed with great content, 15 live games every day

microsoft, cisco. ere's some bullish tradingut there. but i feel le i'm stretching. tech is one of those nam that has been a quiet ris here. nobody is potioning for much. look to google, the average move around quarters s been around 5% ibm, close t6%. look to intel. average moves closer to 3 %. not pricing in mh more than that in geral, i would say it resembles the financiasector. there is n a huge expected ve out there. it is slightly differentn the sense that i don't see theame proactive put buyinghat i did in the actual stks. >> this maybe good news, if we are a glassalfull mood? >> a lot of the names are cycle names, in the last 18 months or so, look at intel, ibm, what they will say for their tlks, intel's ceo mentione on the last earnings rort th pc market has bottled. its down on the year. is one of those things that under pems. i not sure that the option market, even investorsre taking what they have to say at face value. >> how do you re the tea leaves, scot >> ibm and intel, the portant onesin the financials, and google ithe seetariat of the space. they're

but other technology names have also gained ground like cisco and intel.within the dow oils are turning around to the up side, exxon is now in positive territory. ge and boeing also real highlights on the up side. >> keep an eye on the s&p as well. steve grasso e-mailing me. 946 is the highest close for the year for the s&p. and the s&p right now is sitting at 942. that's an interesting number to watch as we approach the close. >> we've got the trader's view of the market. we'll go downstairs on the floor of the exchange, tell you what's on the traders' radar, how they're setting up. look for after the bell numbers from google and ibm.se ts, i'm glad i turned to fidelity for an annuity with guaranteed income for life. that's right, guaranteed income for life. my annuity from fidelity means my retirement income is safe. it's guaranteed, no matter what happens. if guaranteed income for life sounds good to you, do what i did -- let fidelity be your guide. call fidelity at... for details about guaranteed income for life. >>> welcome back. we went right to the

cisco also in acquisition mode, so is oracle and ibm, dell's got to do the same thing. >> let's move on here. but a reminder we'll go deeper into the google earnings as well as ibm earnings later in the program. >>> let's switch gears because another sector on fire was commodity. oil jumping back to 60 bucks a barrel. copper up 4%, one-month highs. metals and mining stocks were among the day's best performance. what do you make of it? >> i heard you talk about it on the "fast money" halftime show.. >> when is that on? >> 12:45. >> very good job, boys. >> when you look at china, what is china doing, they want hard assets, physical assets and that's going in the commodities space, i think the best thing about the equities rally, it is not all about energy futures moving higher. this rally really was a broad-based rally. when you look at the commodity space, do you know what, i actually want to own the oihs, i want to own the natural gas, the apaches of the world. i don't want to own oil or natural gas futures, i think that's what you're seeing. >> yes, absolutely. china, resources, res

those stocks are apple, oracle, intel, microsoft, cisco. we've seen this movie before and it doesn't end that well. when we look at the s&p, two of the largest weighted stocks in the s&p 500 are exxonmobil number one, and chevron, those two stocks are down 9.5% and 7.5% respectively. if we have another leg up, we need those stocks to participate. >> you either need that to happen or you need the unthinkable, which is for the same tech names to continue to rally to the moon, i would guess. there's definitely a couple of reasons the energy sector is a place to look. number one, any economic recovery is not going to see us rocketing up because unemployment dropped and we start seeing massive productivity gains. what we're probably going to see is some of the big cap names that have underperformed, as the ones dan just referenced here actually start to outperform now. and they have typically over the last nine years, these are names that have done really well. this year, not so much. in fairness, exxon significantly outperformed the market in 2

learn more at cisco/newways. phew!>> a live look now at the room where president obama and russian president medvedev will hold their joint news conference momentarily. we will take you there as soon as it begins live. >>> and also, coming up on street signs today, hard rock is about to build the biggest casino in europe. 19 miles outside of -- who knew? it is it's actually, it's a fascinating story. we've got the ceo jim allen with us on street signs this afternoon. we are excited about that. in the meantime, scott, it continues to be the commodity story, although, we started downright about 275 for crude, right now we're at $2.63. >> and the market's holding in that range, dow down 55, nasdaq down 23. so it has moved down and the nasdaq's pretty significant today. >> yeah. in terms of a couple of other things that are of interest. and we're going to talk about this on "street signs" too and when he talk about markets, there's a great example out there right now and it is anything to do with michael jackson memorabili

at what level would cisco start looking attractive to you? about retracements and you get to 19, 19.5 and if you don't think that's a move for you and you can stomach a couple of bucks, cisco is fine and if you are trading and can't afford to lose, you have to take profits. >> see you tonight.t. >> see you, baby. >> my wingman on the right. tonight's fast money. ceo of mca fee discusses the "power lunch" with the trip of trader. the stock bond and equity trader heading into next week. more fast money halftime report after this quick break. >> the summer rally going strong with stocks on track for the best july in 20 years. our top traders put on the sun tan lotion. and find a place that will stay hot in august. and the war games trade. the ceo of mca fee trades the growing super security threat. botox, still a buy? what is giving the company a lift. on america's post market show tonight. what's on the minds of independent investors? let's ask. when i trade, i want a straightforward price. they lure you in with a $5.99 trade, then charge you 1

sanford's cisco is next, followed by dallas-for work. -- san francisco is next, followed by dallas-fort worth. >> at this rate, we could end up number 1. >> we e trying harder. >>> 6:37 is your time. let's check business headlines. >> we had a big drop on stocks yesterday. stock index futures are indicating slight gains this morning. move over, microsoft. google is releasing an operating system to compete with microsoft's windows. it will be designed for low-cost laptops. this sale your used car and buy a new one. you may get a good price when you sell your car. used-car prices have been rising for the past six months. one reason used car prices are on the rise, fewere used car vehicles are for sale. that is your business news. live at bloomberg headquarters in new york, i am linda bell. doug and alison, back to you. thank you. >>> . tough the economy is forcing a popular georgetown restaurant to close up shop after 40 years. nathans restaurant has been a fixture since 1969, but it has been plagued by money problems recently. the owner said there was declining revenue. loyal customers a

but oking at the b bigrr technololo markets, the intels, ciscos, oracles. there will beeroroer ccovagage. many companies that are t trang atat 12,22 and a halff times earniningsrereoing to papaicipate with eighthtoo nine percent in grthth. ththosare areasouou can invest in right now. and some of e consusume stapaple areaeas. those have b bee left bind adds the market hasone up. as youou look at some of t t dr companies and the drugstores. along with ke and pepsi are reallyly gdd buyuy right no >>t's follow that. dadais goggrom thee defensive sectors. ininde ththe market,, mmoditie ha ld off. oioi todada gold has soldoff. raraw materials havave sd off. trsury bond ratesave come way y owow looks like a deflation play iss replacing the reflags s play. what does thatat mean forinvestm strategy rhtht in here? do you go denensi andtatay awawayrom the c cyccacalshat haha let thehe market re until recently. thanks for havingngme f fir anforemost. have ha a l of greatt people come on y you show. we haveoo fusus on c capity forr ri.. you mentionn deflation. i think w

profits should be steady, but how they characterize could offer a window for the likes of hd, dell and cisco as well as anything ibm has to say about customers overseas. google should is have a window on what to expect from yahoo and even ebay. speaking of the following week, apple and yahoo come on tuesday and microsoft on thursday. so many experts saying tech will pull us out and commendary and a shift towards good news rather than not as bad news is absolutely key to the report. back to you. >> thanks so much. here now for the daily dose of "street signs," brian kelly and tim small's head of trading. thanks for joining us. me what you think of tech right now. are you a wading this earnings season with such eager anticipation as jim is? >> i'm await together on a macrolevel in terms of what the market will do. it will be important to see if these companies can perform. i'm not that excited about the earnings coming out, but hopefully we will get good news. >> we had a technical problem on my end. let me ask you what is your best trade right now. >> the best trade is rerise on and we finish

. >>> up next, stocks on the move, including cisco. >> and the later, this.erarmor kales it recharge for you to wear after your workout, and it's $200 for the set. >> that's what i look like after my workout. >> now, you know, i know that -- mark's son matt is an incredible athlete and probably -- >> nothing but under armour. >> and now the director of product creation, find out why they're putting this product out right now, and who he said will buy it. that's a real person that looks that good in that thing. >> that's the way i look, too.sh '. - ( phones chirping ) - construction workers are making 244,000 nextel direct connect calls. 1 million people are responding to an email. - 151 accidentally hit "reply all." - ( foghorn blows ) that's happening now. america's most dependable 3g network bringing you the first wireless 4g network. - sprint. the now network. - ( whoosh sound ) deaf, hard of hearing and people with speech disabilities access www.sprintrelay.com. in these markets, i'm glad i turned to fidelity for an annuity with guaranteed income for life

. >> i agree, but remember intel is at 18 not 50 and cisco at 20, not 80. well below where we thought the mobile internet was here to state. apple computer down 40, from where it was. these companies have explosive businesses because of the long-term secular growth of mobile internet. >> all right, james, thank you very much. >> more of jim on "mad money" 6:00 and 11:00 p.m. eastern time right here on cnbc. next on "street signs." a top venture capitalist, launched city search. google is investing in his newest idea. find out what it is. >>> and, poker players are betting on congress. hoping congress will lift the ban on internet gambling. billions of dollars in the pot. in these markets, i'm glad i turned to fidelity for an annuity with guaranteed income for life. that's right, guaranteed income for life. my annuity from fidelity means my retirement income is safe. it's guaranteed, no matter what happens. if guaranteed income for life sounds good to you, do what i did -- let fidelity be your guide. call fidelity at... for details about guaranteed income fo

f fac i think ronon wrong to even lumpp tss stock as s a defensive, a as cisco will be oe of the first companies to experience aecovery sinince i i books and sells 85% of the buneness inhe quart. whwhen businesses ststtt spepeng again scsco will be onee o of e fifirstotooigighe i alsoso lee disnsney i gagardt as a play on cheapepe soline, especially now w we understand jusust w w mu a farce ththe oils future market is, bad on how easily sculators and mapupulars can push prices up.p. dumping disisy?y? big mistake. what abobouthehetock he's bungng? insana is ungng the cash from these seams to load up on bank america, itigroup, welllls fargo, jpmorgan a and huntingto babankmamas but he's alslsouying hovna vnavian, lennar.r. yay to the banks, y to the meme blders. i have said that w we t t a ususg bottom athehe end of june. bu that d doe't't mean appreciation it just means hohos price stabilization.. at these p pris s th's not gogo news for thehehohome b buierer ththeyeeeed to see house price apapeciation. th's's n what's happening. many of the houses ing closed now arare foreclcleded hoer

mostly minor injuries reported in separate cisco. sue on hot weather, transgression claims not a good mix for fire fighters. it's our first step as we go across america. and suing california: it's appointed 200 fire fighters to get the upper hand on his brushfire friday afternoon but had some strong aerial support. in the end, only 50 acres were scorched. no homes were lost. >> wisconsin: is this what they mean by the dog days of summer? the famous winner mobile lands in hot water after making an unexpected visit in someone's home. neighbors say the driver took a wrong turn down the block. when she tried to turn around, she reportedly hit the gas instead of the brake. you can see what happened next. >> to keep laughing about it to keep from crying. >> julie: no one was hurt soon texas: sheriffs are calling upon the biggest pot busts they've had in years. no wonder. this sophisticated bar has run a farm was designed to hear it doesn't last. >> we're still looking at who owns the land, and any other information we can get the apostolat

this for hundreds and hundreds of earmarks for not-for-profit organizations, particularly in san and cisco, where it is in decent part is being displayed in live performances and movies -- these are not just kinky movies, but they are horror movies involving animals and the reprehensible ness of the national endowment for the art for doing this cannot be emphasized strongly enough. their history has shown -- and they have told us they would stop this -- but to see that they're continuing this offensive art is outrageous. megyn: you did not overstate the case. that one video that we showed, $25,000 of taxpayer money went to the sand dunes as go cinema tech which is the place where they are showing this film. this is how they describe it. kinky art porno. that is what $25,000 of our taxpayer money is paying for? then there is more money going to asymmetry project where couples are mounted on each other in various poses. i think americans would have a problem in telling that their taxpayer dollars are being funneled to support such causes. what can be done? >> lot of things. we can reduce nea

but when you look at a cisco, which is the bellwether, i want to warn people that tech is going to come but you have to avoid some of these smaller, commoditized names. we're big in altria, which is the domestic phillips morris. i love sarah lee. i even like burger king. a couple days ago, they said, we're not even going to do a dollar menu because we don't need to. so you've got to take a cue from some of these companies. >> that's an interesting point. peter, how long-term of a bear are you here? obviously, you must not see anything turned around in nine months, otherwise, people would be buying stocks right now. >> since the march lows, i've been bullish on commodities and the impact that has on emerging markets. i'm bearishn't u.s., bullish on south america. bullish on asia, bullish on the emerging markets of eastern europe. the u.s. is going to grow below potential for a few years. we're going to get a second half rebound in auto industries. >> what's your forecast for second-half rebound. >> it's maybe possible, but if it's export oriented, if it's going to be trade and inventory

we like emt, cisco and ibm and chances to get in cheaper. >> corporate customers have a snap back ind that has to come into play at some point. lee munson a stock or two. >> one thing we will see in this recovery is a high savings rate along with recovery in the economy. i like amazon, started buying it because they're the wal-mart of the internet and they bought zappas and think it makes a lot of sense. >> what does high savings have to do with amazon. >> you can buy books. a great question, dennis, generally, these economies recover you look at coach, tiffany's and luxury goods and people start spending more discretionary dollars. i think this economy can recover very well and people have more interest in buying target stores or amazon and have more confident spending. i don't think we'll see a lot of high end spending as we did in the last bull cycles like dot.com or juiced up subprime spending. >> pete ser schifr schiff, i ha for, you give me one u.s. stock. >> mining. most people haven't heard of. you want to look at exporters, mul multinationals, oil and gas, agriculture. there

♪ >>> police made annual arrest in a hit-and-run that killed alex cisco hen.eared as a contestant on american idol. police arrested a man over the weekend charged with causing her death and leaving the scene of an accident. >>> flex company burris is headed to jail. he was willing to spend a year in jail but prosecutors insisted on two. burris shot himself with an unlicensed gun back in november. he was charged with possession of a weapon and faces up to three and a half years in prison. burris could also face disciplinary action by the n.f.l. under the league's personal conduct policy. >>> madonna's steamy love letters, jimmy hendricks' first signed contract, even blue prints to elvis' graceland all up on the auction block. the celebrity paraphernalia went up for sale at the auction house. there are nearly 500 items on the list, including two cassette tapes with ear rottic mess -- eroticessages madonna left for a boyfriend in the early '90s. >> we have an original letter that john lennon wrote to a top record executive [ inaudible ] >> the on-line auction wil

really, to look at this rally today, we had an upgrade of caterpillar and cisco. >> yeah, i think joepoint. i've been mentioning it, too. these earnings were getting upgrades. goldman sachs, we'll talk about them. they upgraded. the earnings are coming through. people are beating on the top line. that's what people need to see. you add that, the leading indicators, up three months in a row for first time since 2004. a lot of guys are seeing the end of the recession. can you start to see earnings growth in the third quarter. that's very impressive. coming into this earnings season, people were probably net short on the expectation these are going to be worse. >> right. but if you think about it, what's different about this earnings season than any other earnings season? we came out of the block strong. usually we come out and trend higher. this time can they meet in the next couple weeks?

why did cisco give away the land when i could've made a bundle selling it to learning that has the storyen, new jersey, started by the delaware river and right next to the philadelphia skyline, sits a 400-acre island chain history, culture, and ecological significance. peggy's island home to bald eagles and waterfall has been used for a variety of industrial purposes over the years. oh and by citgo has been an oil refinery, a terminal and container storage facility. now cidco, owned by the venezuelan national oil company has transferred the land to the state of new jersey sued activision is for there to be forced in areas and meadows, trails connecting various points on the island as well as a nature center that offers programs to local schoolchildren throughout the company could have made a lot of money selling the island for redevelopment for things like hotels and casinos, but cidco chose to preserve it and released the statement of fox. to mexico still has a lot of work ahead. the cpany will need to dismantle all the service packs, take down structures, remove roads and test the soil

and therefore, i don't understand why any of these antitrust things -- they're going after google, cisco, intel, microsoft. even before the deal -- they're going after everybody. this is an assault on business. >> but separately from that, it looks to me as if having a viable second source for advertisers and publishers is a good thing for the market. >> there you go. >> basically, everybody is going to like that. >> actually, pro competitive to have these two up, because it gives advertisers, you know, an actual other choice as opposed to google. >> yes, yes, yes. >> that's it. i guess we agree. we're done. let's go. guys, thanks so much for joining us. >> the justice department is wrong. we ought to do something in this country to help business. every now and then, why can't we do something to help business, you know? we have had had a bad two year recession. why attack, assault, and shoot businesses? sorry. >> how about just not getting in their way? is. >> thank you. oh, that would be fabulous. fabulous! >> thanks for joining us, guys. we appreciate it. trish, over to you. >> melissa

it's like the big guys, microsoft, cisco, intel, dell, they really haven't done anything in ten years i mean, i want to ask you, you can say the overall market hasn't done anything in ten years and that would be fair too. but i want to ask you, do you prefer niche investing? do you prefer the big guys that everybody owns? give us a little guidance on your excellent track record? >> generally what we've invested in is mid cap companies over time. we do own some of the large cap names when the opportunities present themselves, but we have 16 research analysts and we can differentiate our stock picks better by going into names that are less followed by the street. >> check point, symanc, tell us about that. >> they're both in securities software. securities softwareis going to continue to see strong demand as long as hackers want to attack corporations. what's happened over the last few years, they've gone from hobbyists to professionals, stealing credit card data and companies like symantec and check point help protect the corporate data. they continue to come out with new products, you

analysts are put out a strong buy recommendation on microsoft today and they raised their view of cisco from a buy to a hold. david kelley, chief market strategist with jpmorgan funds, says that we are at the bottom and the worst is behind us. jpmorgan sees mild growth in worldwide gdp in the second quarter that just ended. now, from the economy to a quick note on the politics of the economy. a new poll shows that the president's approval rating is shrinking in the key state of ohio. now, the numbers from quinnipiac, that is the name of the guy that took the poll, showed that his approval rating now is somewhere around 49%. and his disapproval rating is at 48%. now, given that ohio is a key swing state, that has got to be disturbing. in may his approval rating was 57%. now, this is a superstar performer who is not really accustomed to getting a bad review from anything. >>> and check this out, our crack research staff here found that the -- since the president was elected, the s&p has fallen 9%. since the president started his job, january 20th, the s&p is up 3%. hardly the jump i'd bee

even into cisco. and we'll also hear from the goog. google. they should offer a glimpse into ho ads revenue are doing and also a window into yahoo. and a these ports, maria, it's not just abo the numbs. you've talked abt this. it's about the outs. it's abo t commentary. weant to know, is it just a less bad scenario, or are pple final liu transitioni into this good scenario? a lot of traders today saying less bad isn't good enough. and of course a lot of folks id that the second half of 2009 would be that major turning point. well, next week we'll see whether it really is. and if it isn't, maria, when will the turning point actually be? back over to you. >> such an important moment in time, rebecca, as we look ahead to the end of '09 and into 2010 to see when this recovery takes hold. >> absolutely. >> thanks so much, rebecca jarvis with the latest on earnings. another big name in the retail industry could very well set the tone for next week. we are going to take a look. and then we're going to talk health care with the head of new york's pres

the implications of the microsoft report on the rest of the tech sector in terms of the cisco, the maker of the parts, exset raw? >> they've been on this great ride for the last couple of weeks. i just got to get those answers first. how did they miss on the revenues by that big of a number? and amazon, why is amazon struggling so much when we heard from ebay, we had great numbers. the forecast was phenomenal at ebay. why are these two so distinguished, especially when you figure amazon is not just about whole auction system. it's about the kindle and all the rest of the products. why is it right now that amazon is struggling so hard-core versus what ebay did today? i think in the microsoft case, if it's about windows 7, if it's about the people waiting for that, maybe that's going to be a phenomenal catalyst and maybe this pullback is a great buying opportunity. i own microsoft. this hurts a lot right now in the post market, but i think there might be opportunities for somebody like me who still likes going forward microsoft with windows 7 and everything they're doing. i do have to hear

the buy signal there on cisco and juniper over at citi. a good day for that.hey get a nice move on that.. the one area of transports that doesn't look so good, the trucking.. j.b. hunt reported and said pricing continues to be a pressure point for them despite the fact that they are seeing a little bit of easing when it comes to fuel costs. you can see all the truckers trading to the down side. of course the big thing everyone's going to be watching for coming back out to the board is google. google reports tomorrow. one trader telling me today intel brought in some buyers this morning, they saw some real volume. can google deliver and keep that going and move these indices above their resistance levels? that's the big question. we move on over now to the nymex and brian schactman. >> thank you, bertha. as you well know, bertha, from spending time down here fundamentals really aren't moving the market right now. they're still pretty weak. but there were a whole host of bullish things going on. the inventory numbers, drawdown p 2.8 million barrels, bigger than

it's why the intels and the ciscos and the apples and the oracles and the googles not to mention the software companies or little guys like semiconductors can do well. those are all stocks i've been relling on the show. by the way, i think that apple can go to 200 in the next few months. it's the most immune to washington stock that i can find unless they start taxing ipods. i want you to think about this non-washington halo tomorrow if the nasdaq is down because amazon reported disappointing earnings tonight. yes, i still like amazon. here's the bottom line. tech can shine simply because it's practically the only sector that's not touched by obama or pelosi's agenda. what a multiyear theme. could last 3 1/2 years. because you can bet this one -- well, let's just say until people catch on about what's going on in washington will remain undiscovered and the stock prices will go much higher and, yes, there's going to be a lot more stuffings knocked out of the bear. i say we take calls. anyone else agree? okay. how about we speak to michelle. michelle? >> caller: jim. i'm calling about