cisco down 1.74%. constellation brands made $100 million in the second quarter after losing $123 million a year ago due to cost cutting and growth in the company's spirits business. constellation brands, let's look at that chart. up nearly 7%. kb home was down graded to neutral. the analyst is cutting the target price to $17 down from $19, saying he is concerned that the cut-off of the first time home buyer tax credit will lead to a dropdown. wall street kicks off the fourth quarter on a down note. charley matheson joining me on thoughts of the trade. we saw the market sell-off accelerate. earlier we did have some upset over the economic data of the day. right in the last 15 minutes or so things really sort of worsened down 200. >> i wonder whether traders began to focus, turn their eyes to tomorrow, which is the big unemployment report out of the labor department at 8:30 a.m. as you mentioned, the news this morning that jobless claims ran higher than most people had anticipated and were up from the pr

the nasdaq's losses were beau whiched which cisco which notched a 1% share rise wednesday. and watch cisco again today after the company announced a $3 billion acquisition of a norwegian video communications company. >>> finally, it's that time of year again, forbes has released its list of the 400 wealthiest americans and although the names in the top ten are the same, their bank accounts are considerably smaller. in the top slot, once again is bill gates whose net worth of $50 billion is down $7 billion. gates' billionaire buddy warren buffett ranked a close second with $40 billion in the bank, even though his bottom line shrunk the most shedding $20 billion. 25-year-old facebook founder mark suckerburg is the youngest on the list, he's worth $2 billion. >>> well the phillies clench, the tigers inch closer and the rockies stand their ground. plus, with the dodgers seemingly unable to finish the deal, baseball in tinseltown is starting to look more like a disaster movie. your early morning sports headlines are straight ahead. >>> it will be a relatively quiet day through m

cisco is buying tandberg.hey will pay that $3 billion in cash for the company at 26$26.4 for each share. it fits into plans to expand video conferencing and video communications business. the telepresence unit is soaring. cisco says the so-called collaboration market is now at $34 billion opportunity. >> enterprises are looking for enterprisewide solutions. we provide a telepresence for about two years now. we have seen explosive growth in this. it allows us to interoperate with more end points. that's what tandberg really brings to us is that great number of end points we're able to provide to enterprises. >> this is cisco's 134th acquisition since 1993, and even though cisco shares are trading right near their 52-week high, the company pays all cash for this transaction. video conferencing has been an absolute boon for the company with customers already snapping up more than 1,000 of the pricey systems that can run hundreds of thousands of dollars each. today's deal also opens another major competitive front

they're the competitor to cisco. maybe if you're hewlett, oracle, there's a lot of companies that want this company. i was surprised to see how little it is up given the fact it trades much more cheaply than some of its other competitors. and this is a company that is unique in the sense that if you don't snap it up, you're going to have to deal with cisco, and a lot of these companies want to come in and compete with cisco like hewlett-packard and ibm and oracle. i think this thing is going to go for a much higher price j and fed ex, what's that all about? >> people were shorting fed ex all last week because employment was bad. i use this as kind of a really just a microcosm of this market. remember, we did have at 8:30 on friday a terrible number, and people seemed to have completely forgotten it or else they wouldn't be taking up this ultra consumer name. >> wait a minute. you confused me. >> people forget that employment was bad. >> right. >> it's like we go over the weekend, on "morning joe" talking about how ba

giant cisco. >> and i'm julia boorstin in the u.s. it's light out for ken loosis, the beleaguered bank of america ceo is calling it quits at the end of the year 37. >>> we've got more data hitting the screens in europe. falling to 49.5 during the month of september. that's from a level of 49.7 during august. the forecast, though, was for over 50, 50 points. the forecast was for acceleration. we're still seeing a little bit of contraction. new export orders, index rising, and i do note that this, by the looks of things, is kind of the biggest area of positivity. so we're looking at positivity in the new export orders index rising to 51.5 during september from 50.2 in august, the highest since december '07. you're just looking at a sterling chart right now. cable, lower by 0.2% against the dollar. 1.5947. let's talk to tom bosa, why not, head of economics of national australian bank. what does this say to you? and especially if we look at it from a positive eyeglass, if we look at the new export orders, that's a pretty nice figure for n

cisco was negative for most of the premarket trade. go to apple which had target raised at oppenheimer to 210. still a lot of chatter about tablet computer and what technology it might use and how it might change publishing the way the itunes changed the music industry. netflix, business week basically saying they're talking with the music studio 'they want more money or delay their titles. activision blizzard, now at 12.20. let's go down to sharon epperson at the nymex. >> stock futures off the low of the session. oil prices just turned positive. gasoline leading the way in the petroleum complex. after more than a $3 gain yesterday, we saw on the heels of surprising decline in gasoline declines. we are still looking at the dollar rising here. that could put a cap on this, a little bit of upturn we're seeing here in oil prices. the dollar, of course, the dollar trade very important to what has been happening not only to oil but to commodity prices across the board. we're continuing to monitor what is happening in geneva. talks between

cisco buying the teleconferencing company from norw norway, tandberg, for $3 billion. there's a lot going on. rad vision which 40% of its revenue last year came from cisco in this space is down 33%. polyco polycom is a competitor. they're down 3%. by the way, we had an ipo today and it's very well. it's up 10%. priced in the middle of the range. comcast, down 6.4%. you have to hand it to mr. faber. it's hard to report on the parent company. came out with all that information about the possible talks. microsoft, a couple names really week. taken off the conviction buy list. oracle down 2.1%. ebay down 2.3%. yahoo! down 2.5%. finally the weakest of the weak would be the chips. the semi-conductor index tells the story. broad com taking it done the chin down 5.3%. the internals are pretty weak at the nasdaq. >> thanks very much. you saw the markets from bob and brian reflecting the tough headlines we had in terms of the economy. ford, general motors, and chrysler, they always come out with how sales were on the first day of the month. and, well, after clunkers went away, b

cisco higher. and the banks about 1% on average, the drug companies also doing well. >> the best week in advantage, since july, with four straight sessions higher after the two weeks we did in that territory. there's obviously optimism what we'll get from the earnings season. >> we're all watching revenue growth, right? we've seen earnings growth for the s&p 500. but we have yet to see real end market demand. that's what we're going to be focused on next week ahead of all these earnings. let's look at the averages. as you see we're looking at this for the day. we wrap up about 3.5% higher than the averages on the week. >> of course, the nasdaq was at a high two years ago. this is where we are on the s&p 500. let's bring in our reporters for detail on the action today. we'll kick off, of course, with our eye on the floor here of the new york stock exchange, bob pisani. >> 9828 is the old closing high on the dow industrials. we're 20 points above that. s&p 500, just a few points away from that old cl

cisco's the best play i can find out there.rships they've got with ge, with oracle. that is end to end infrastructure buildout. i love it for this market play. huge balance sheet. you've got to like everything going on already. this is just a little cream on top of the cake. >> if you like this taurks do not miss "the business of innovation" as they explore the unprecedented global urbanization that is changing cities throughout the world. 8:00 p.m. eastern time right here on cnbc with maria bartiromo. we've got final trade right after this. >>> let's see that poll. tonight's question is are you a buyer of alcoa before earnings on wednesday? we've got two choices for you, surprise surprise. a, yes. or b, no. log on to fastmoney.cnbc.com right now, tell us what you think. also quick programming note before we get to the final trade. tonight on "the kudlow report" do not miss republican senator from oklahoma, senator tom coburn. dr. tom coburn weighing in on obama's health care plan. final trade now, j.t. >> national oilwell. nov

cisco buying norway equipmentmaker for $3 billion.ought in 2007 will round out video messaging and other collaboration tools. >>> when we return congressman's reaction to ken lewis stepping down. health care, the consumer and chief executive of walgreen's. you're watching "squawk box" on cnbc and cnbc is first in business worldwide. >> time now for today's aflac trivia question. the screen plays for how many of the 71 best picture academy award winners in the 20th century were based on novels? the answer when cnbc "squawk box" continues. that accident. well...i couldn't have gotten by without aflac! is that different from health insurance? well yeah... ...aflac pays you cash to help with the bills that health insurance doesn't cover. really? well, if you're hurt and can't work, who's going to help pay for gas? ..the mortgage, all kinds of expenses? aflacc it's the protection you need to stay ahead of the game... exactly! aflac. we've got you under our wing. aflac, aflac, aflac... aflac, aflac, aflac >>> now the answer to today's aflac

cisco just made a fairly large acquisition but they have made hundreds and hundreds.d symbols. i think we're prepared to actually show some. positions you like right now. >> well, actuate, actu. >> okay. >> pmct. >> those are the ones you're talking about in terms of acquisitions for software, right? >> correct. >> all right. what about consumer discretionary names? >> well, there's been a lot for consolidation. the weaker bankrupt, stronger, so i like the category leaders because i think they basically have much reduced competition. i am not hoping the consumer comes back strong any time soon. just a lot of operating leverage in this company. i like particularly dick's sporting goods. i like car max and i like also whole foods. >> really, kmx and dks and whole foods. we saw target and walmart. are those on your list, too, bernard. >> too big for my folder. they are doing great. there's no question about it. i think they are really leading the charge towards integrating, insourcing, manufacturer of goods, a margin going forward. >> do you take any tops down analysis a

we have cisco down 1.6%. they bought tanberg, the norwegian teleconferencing company. the weakest of the weak, clearly the chips. philly semiconductor index down 4.2%, qualcomm 4.4%, broadcom hammered, 5.9%. microsoft, there is a report out there saying bing lost market share since last month. oracle is down 1.8%. ebay 2.3% and yahoo 2.5%. rimm and dell outperforming research in motion. on a day like this, that's almost like being up. sharon at the nymex. >> oil prices ended the day higher but have weakened since the close. we are looking at prices above the $70 mark. we are following closely the headlines from the talks in geneva between iran and the major powers. president obama will brief the country about those talks later. headlines out of the white house says u.s. warns of sanctions if iran uses talks to delay. we've seen oil prices rally the last half hour of trading. natural gas taking a steep plunge today after inventories have swelled now to record levels. we are also looking at a weak demand picture. that's highlighted today by the ism manufacturing index, a

technology, cisco about to go on a spending spree. >>> let's get you a check on where we are now, 25 minutes before the closing bell sounds on wall street. the highs of the afternoon, 112 on the dow. back above 9600 on the blue chip average, largely due to the financials. citigroup up 3%. goldman sachs up 4%. jpmorgan up 4.5%. wells fargo up better than 7%. goldman sachs upgraded the entire group. and there is money following that call. nasdaq up 1%. 20 points higher. the s&p 500 holding on to a move of that, 1.5%. >> the tech sector the hot sector so far this year. nasdaq up 60% since the march lows. some on wall street are wondering what they're going to do with all that cash. joining me, john is the option monitor.com, co-founder and "fast money" contributor. i'm looking at some of these big names, yahoo! qualcomm. they don't pay any dividends essentially. they're sitting on a mountain of cash. is it time to either buy something, or start paying a dividend? >> yeah, well, you're saying it nicely, because of course, it really is time for them to do something with the cash, or give

the company just announced a blockbuster deal with cisco this morning.his is the first thing i saw this morning when i woke up. it's worth more than $1.91. that's what the stock jumped today. i think salesforce.com is in a great position. but i have struggled on many occasions to show you at home whatwhat salesforce.com really does besides make a lot of money. you know i believe it's important to know what you own. and in case what this company does sounds too complicated or technical for you, tonight we've got a great chance to see some of the services salesforce.com offers in action with the company's fabulous, incredibly bankable ceo. i've got toe till before we do that he's got a new book called "behind the cloud." comes out next week. how many books have michael dell, eric schmidt, anthony robbins, john chambers, and neil young as an endorser? hey, i say neil young, i'll buy that book alone on him. all right. mark benioff, come on over here, will you? i can't even be formal with you. i just can't. >> good to see you. >> you've made too much money fo

ibm, cisco, disney are among them.t moments away from a potentially -- it says we're almost moments away. we are actually are moments away from a potentially market moving 30-year treasury auction. we'll have those results in just a moment. >> i'm sue her hara. is the diving dollar a threat to the american way of life? one well-regarded economist seems to think so. we'll take a look at what it means for investors and for business. >> i'm michelle caruso-cabrera. dell trying to expand beyond its core business recently made a deal to buy pirot systems. is dell on the smart track or getting off track? >> i'm dennis kneale. coca-cola's ceo out with an extraordinary op-ed saying don't blame us for rising obesity rates. so are soda companies to blame or lazy americans who just aren't getting out there and working out? "power lunch" takes a bite at this hot button issue. >> we have had pretty good auctions this week. the three-year got a b-plus from rick and the ten-year got an "a." >> which is rare. >> even as prices had bee