>> cisco, we know cisco will be a low single digit grower and most people understand that's part of thes. you will be experiencing that 2% to 5% growth range and double that on the bottom line. that's faster than the top line and they pay a dividend and they are relatively shareholder-friendly with the cash. they are fighting this. we knew it in the public sector. the orders are expected to be flat going forward, but the bone chilling component is the enterprise spending is slowing down. >> it's karen. say we have that modest revenue growth on the bottom line that you stick to the 23 or what do you use to get that down somewhat? >> it's a great question. we have to sort of work through the model, but we are not going to be lifting the price target. let's put it that way. >> it's interesting because collin said everybody knew it would be a low revenue grower, but the estimate was for 7.1%. >> love collin. >> who are doesn't. >> if everybody knew, you make that. collin understands that as well. people are expecting and people are looking for a much better situation. the push back would be

cisco's everywhere.the exceptions of cloud and data center plays, these customers are very worried or cutting back and cutting back severely on their orders. cisco salespeople are amazing and they're the first to know of slowdowns and they're telling john of a real slowdown. he's gotten deeper into the organization to confirm that. the enterprise can't afford not to spend to keep up with the internet and data needs. the governments of the world, one of the amazing things cisco has done is to ingratiate in governments worldwide. no, cisco isn't offering solar solutions, ones that require subsidies, but it is providing services to ever larger, ever growing government needs when they aren't getting larger and aren't growing anymore. that's troubling, but not cisco's fault. it's difficult to say, though, because the showdown from the slowdown is new and the chaos around the world particularly in europe is too much for any worldwide tech company to continue to be as bullish as it was. it's not only europe. ou

how concerned should we be by what cisco said about overall tech spending? cisco is down. juniper is down. there's another tech names sort of around that area as well. >> i think you need to be concerned because cisco is still really big. they do $40 billion in revenue a year. a year ago, i was on your show at that time. cisco had first started talking about issues in europe. all their competitors were like, oh, that's a cisco issue. now all the competitors, juniper, et cetera, they've all come out with problems. just given cisco's size, you need to pay attention to what they have to say. >> are you buying technology stocks in are they still attractive to you as you strip out cisco? as pete was saying, a stock that's lost its bellwether status in the technology space. how does it translate to the stocks you would lie now that are in tech? >> what i'm looking at is stocks that are already beat up. i'm fairly negative on the market between now and year end. i'm not bullish at all. what i'm looking at is names like in the mobile industry, which we'll get into, but other names

call buyers in cisco.the reasons is it's a well-known name, we see this a lot. i still think it's a quality company besides what they have said, and we may get a bounce right here. impeople think it's overdone. >> j.j., thank you very much for joining us. >> always agreed to you you guys. >>> gold is on the decline on. goldman today saying it's citying by the bullish forecast, and the precious metal could till set 1840 in the next six monday. after erasing all of its gains for the year, is this dip simply another buys opportunity. >> suka joins us in a forecast. suki, always good to see you. sounds like you think it's stuck in a range. >> gold struggled because of the market. it proved much more fragile this year than last. last year we saw india and china continue to come to support it, but this year the activity has been more lackluster. so gold has struggles, but we think the macro backdrop is favorable. >> favorable to what level? what are you looking at? >> we have a forecast for the full-year 2012 at

john had the latest on cisco.hen there is spanish jet, initial claims and the trade in natural gas. the factors that could move tomorrow. we top the get to our market panel for tomorrow in 30. let's get to it. cnbc contributor and with castro capital with raymond james. you know the rules. 30 seconds and the clock is going for to you tell us what's on the list for tomorrow. your clock begins. >> three things i'm looking at. claims for starters and very important that the jobs picture is here in the u.s. looking at retail earnings in light of fossil and macy's gets another round with kohl's in the morning. the state of affairs in the consumer. i will be at the industrials conference at wells fargo. they are presenting an industrials conference and caterpillar will be getting the state of affairs on the economies. >> we will be watching that and macy's and the retail numbers tomorrow. clock is ticking. >> all right, maria. we get a bout oversold and beaten up metals and energy. keep an eye on the trade. something is

and still to come on the show, we're talking cisco, of course.ers are holding back on tech spending taking more time to close deals. is this dire outlook specific to cisco or a reflection of the broader tech sector? we'll break down the company's results coming up next. ♪ ♪ i can do anything ♪ i can do anything today ♪ i can go anywhere ♪ i can go anywhere today ♪ la la la la la la la [ male announcer ] dow solutions help millions of people by helping to make gluten free bread that doesn't taste gluten free. together, the elements of science and the human element can solve anything. solutionism. the new optimism. >>> cisco's third quarter profits rose 20% and revenues more than 6% beating drafts, but there were trouble spots, as well. european orders were flat. cisco expects fourth quarter revenues of 2% to 5% below both analyst estimates as well as the company's previous projections. john chambers cites ongoing challenges and customers being cause sthus with tech spending. deals are taking loner to close. >> the major thing all of us see in busi

after the close, the market focus was on earnings from cisco systems. the company has been working to refocus on its core computer networking business. earnings came in one penny ahead of estimates and were up from a year ago for the second straight quarter. both product sales and service sales were up. cisco shares came into this report up just a fraction, but saw significant selling after the closing bell. the stock was down more than 8% from this closing price at one point, trading just above $17 per share. investors didn't like cisco's earnings forecast, which came in below what analysts were expecting. but cisco wasn't the only stock moving lower after reporting earnings late today. priceline.com fell about 3% from its closing price tonight. the company's forecast came in as expected, and that was seen as disappointing. but it was a strong first quarter performance, with earnings coming in well above estimates and up 60% from last year. international travel bookings saw a big pop, and the company said it has not seen any slowdown on its internation

cheap are we're going to sell cisco and keep apple.oneywell in, that would be good to replace cisco and then maybe not all industrials, we'll go back and use the hormel example to replace intel and then i would feel -- but not yet. rich in california, please. >> caller: thanks very much for sharing your knowledge and that dirty adult linoleum floor with us. >> i hear you. what's up? >> caller: my fold holdings are the infamous american international group, british petroleum, government properties income trust, gov, northern american tanker, nat and north run grumen. >> i see you're a difficult i dividend hog. northern american tanker, even though it is an oil tanker, i think it's about to buy some more ships. that usually means equity offering is coming. and financial oil tanker real estate, trust and defense, that will do it for me. great diversification and very good yield. stay with cramer. options, and futures. optionsxpress, the broker smart traders deserve. open an account today at optionsxpress.com.

we're going to go to 2.25 prz. >> cisco earnings out shortly.ould determine tomorrow. >> yes. we have to wait for that overnight. thank you, gentlemen. that is the first hour. wouldn't you know, coincidence or not, on the same day that president obama comes out for same-sex marriage, today is international equality today and

greatcoat the department of the center cisco federation. established about 15 or 16 years ago to be a bridge between israel and the bay area's jewish committee. >>> both of you've been in the jewish committee in the bay area for a good amount of time. i'm wondering what are some of your observations about how the bay area understands the state to visit israel and that is really a culture >>> i found i divided into a couple of things but first the jewish committee here in the bay area is a large and fibrinogen very deeply connected to israel. and we feel great kinship israel is the unusual nation state of the world people. the jewish committee instinctively understands that since the connection between us is very strong and here in the bay area have felt very good in the last four years the political support for israel among elected officials as a very strong it's great understanding and french than the economic connection to in silicon valley and the state of israel is of great mutual importance for both sides and very strong and growing. >

technology due to cisco's disappointing guidance. s&p technology down for a sixth con section t consecutive day. with us is ben, private wealth management and bertha coombs at the nyse as well and rick santelli at the cme group. hi, everybody. let's talk about this market here and what you want to do. does anything about the way that we're trading, low volume, low volatility, cash on the sidelines worry you about or dictate to you how this market behaves the second half of the year? >> not really. we are becoming more cautious from mid- to late march and we're starting to roll over. the index slipping. correlation falling sharply and stocks no longer trading with each other. macro didn't matter and certainly the problems with europe are still there. >> ben, what do you think? >> the euro zone crisis is going to ebb and flow but it's not going to go away. the big concern is are we going to have a big concern like we had in the summer of 2010. i think the economy is a much better footing. we're complaining about job growth of 115,000.

cisco's weak guidance weighing on the broader tech sector since cisco did say business may potentiallywn, its main customer, cavium also trading lower. big headwind for cisco. it's a pretty similar story for price line. it beat estimates, issued weak guidance. the company being impacted by lower international bookings. one bright spot in today's trade is tesla. shares getting a nice pop. kind of a reverse story for tesla. it missed street expectations but raised its full year revenue outlook. stock up about 11%. sue. >> thanks, seema. toll brothers at a four-year high up some 35% this year alone. mortgage rates falling to record lows with freddie mac saying the 30-year fixed is at 3.83%. but as rates go lower, getting a loan still isn't all that easy. diana olick now on your rates and your costs. >> hi, sue. that's right. even fed chairman ben bernanke said it this morning. some credit worthy borrowers still have trouble getting a mortgage. no question. credit has swung a 180 since the housing boom. we wanted to break down the real numbers. we went to bankrate.com with six scenarios an

district in san and cisco. an adjacent building causing damage on the top floor. the red cross is assisting and placing it in this place residents in shelters. >>yoli: i have not seen any investigators on the scene. there are waiting for since city inspectors to come out and take a look of that building repair i was is showing you some of the debris. this building is at a complete loss. every now union was -- every year it was burned out. luckily there was an engine nearby. de quickly came in spot it claims up to 20 ft. high. this went from a for alarm -- this went to pay for amar case. within 15 it the fire did burn out to units on the building and valencia. they think it started in the stairwell. >>darya: this man as asking obama's to meet at high is the man or else he will be killed. among the demands is that u.s. hard to release all out tight at members. and it is videos showed the first have is evidence that wine scene is still alive here france -- >>mark: and france has a new president. fresno, called the

. >>> shares in cisco in big trouble. >>> and a strange magazine cover. we'll talk about it coming up. >>> years and years of dedication to help keep the bay area beautiful. meet thesepraith at tie womna't praise at the national's capital today. c >>> welcome back. president obama is bound for the west coast right now. he's expected to arrive in washington state before noon and then appear tonight in los angeles. natasha ryan joins us from the seattle airport where the president will be facing many questions about his gay marriage announcement. >> reporter: we're here at boeing field. from here, the president will head to a home in seattle for a private fund-raiser. it's reported couples spent $36,000 just to attend. then it's off to downtown seattle for another fund-raiser with the dave matthews band and back here at boeing around 4:00 this afternoon. from there, he'll head to l.a. to go to a fund-raiser at george clooney's home. >>> federal stimulus cash, the investigation unit follows the money to find out who got it and what exactly they did with it.

let's head to jim iuorio now about tesla and cisco. why don't we start with cisco?you trade it? >> i got out of my shorts in cisco today. we've been talking so many things over the last week, one thing we have on the background is earnings tend to be good. cisco with the 7% downturn, the risk now to me seems to be to the upside. when the dust settles in the overall market, i would be okay with being long a little bit of cisco. they have cash and they make money too. >> let's look at tesla. when i think tesla, i think tucker, but maybe tesla's one that will breakthrough. >> i like tesla. they might be the story of the future, but i honestly don't think they're the story of the present just because the product is too expensive. >> jim, thank you very much. u.s. retailers looking to china for growth. the question, will it work? stacy woodlets, president of sw -- what does it stand for? i wonder. she's live at a key conference in london. stacy, good to have you with us. why is china so important? and can it deliver on what everybody seems to think it will, and that is b

. >> cisco's ceo, john chambers, when 60 minutes on cnbc returns. [ticking] >> in 2004, congress passed a law mandating that any u.s. company wanting to move offshore would still have to pay the 35% corporate tax rate. but despite passage of that legislation, companies can still substantially lower their taxes by moving chunks of their businesses to their foreign subsidiaries. >> i think when people hear that all these companies are moving overseas because of taxes, they think, "that doesn't smell right." >> yeah, the question is, does a company have a moral obligation to pay its fair share? >> swiss tax attorney thierry boitelle. >> i think many companies in the u.s. would like to keep the jobs in the u.s. if they could, but they also need to keep the shareholders happy, and they are in the u.s. in a corporate tax nightmare because it's the highest tax rate in the world. >> the u.s. actually has the second highest rate in the developed world after japan, and they've considered lowering theirs. >> we are dealing with a tax system that is a dinosaur.

not that anyone cares right now in light of cisco's blow-up that took salesforce down $16 with it. some worries about the quarter. if you like danny's analysis, it might be time to maybe snap up a little tomorrow into some weakness and after reports, buy some then. bottom line, when you're picking stocks, remember the success of the danny meyer hospitality index. understands the value of hospitality of not just delivering high-quality products but connecting with you the customer. that would make you more money than their clueless rivals. maybe in addition to incredibly successful shake shack

>> almost $40 billion. $40 billion. >> cisco has $40 billion trapped over there somewhere?yes. >> the total amount of money u.s. companies have trapped overseas is $1.2 trillion. chambers is advocating for a one-time tax break to allow them to bring that money home at a rate of, say, 5%. he says that would stimulate the economy and create jobs. >> what is your downside for money that isn't gonna come back anyhow? i'd say your downside is zero. >> but the obama administration has opposed this in the past. when it was tried in 2005, the treasury did rake in billions of dollars, though very few jobs were created. but what if tomorrow congress passed a quickie law, and the tax rate was 20%? would that solve everything? >> i think it is the most important ingredient that we have to think about being competitive. >> you lower the rate from 35% to 20%. you lose something like $2 trillion in taxes. >> okay. >> we have a horrible deficit crisis, debt crisis. that's almost too much money to lose. what's your answer to that? >> my answer's very simply every other developed country in

after hours, cisco stock fell 8% from the ongoing turmoil in europe kept wall street in the red. the dow industrials that -- fell losing 97 points. the nasdaq fell 11. word of a new debt bailout from greece helps trim losses. >>> they spilled oil on the day and now they are paying a hefty price the penalty and new policy at preventing future oil spills. >>> being a big-city mayor is a tough job. >>> oakland mayor speaks about the recalls. >>> the cooldown has arrived. we could have patchy fog first thing tomorrow morning. we will let you know where temperatures are heading this weekend. what's the best gift you can give mom ? a powerful connection. with this droid razr by motorola on verizon 4g lte stay in touch with your loved ones on skype. plus, enjoy verizon's 4g lte network in more places. the droid razr you want, one powerful connection on america's largest 4g lte network. that's real value. give mom the droid razr by motorola. only 99.99. the lowest price ever. verizon. hola, mama. it's my mom. . >>> authorities in menlo park say a man apparently processing gold in the bac

jackie, cisco sort of popping our tech bubble. good morning. >> good morning to you, scott. yes, the futures are higher at this hour and cisco is the one to watch after the company warned that customers are being cautious with i.t. spending and taking longer to close deals. and like you mentioned, they mentioned europe as a specific area for that. meantime, we saw stocks falling again yesterday, closing off session lows. one trader calling it the rumor monger olympics yesterday. rumors flying about whether spain may need a bailout. also rumors on greece where it may be denied the next round of bailout money. but it ended up turning out that greece will get its money and spain is only taking over one bank at this point. here in the u.s. today, data on unemployment and trade deficit as well as import prices. we saw the dow fall 97 points to 12,835 yesterday. the nasdaq lost 11 points to 2,934. mother's day spending expecting to bloom this year. the national retail federation saying consumers are expected to spend $18.6 billion on gifts for mom. an average of $152 a person up f

in the region are more less a branch of the israeli embassy in our region are consulate bases have cisco responsible for northern california and the northwestern united states considers his car for four years about to enter tour of duty. >>> the israel center is the department of the seven cisco federation established about 1516 years ago to be a bridge between israel and the bay area's jewish committee. the couple's of the death of been in the jewish community in the bay area for a good amount of time and am wondering what it's all of your observations about of the bay area understands the state of israel and the israeli culture and all the different ways in which israel functions in the world. >>> a divided it into a couple of things first jewish community here they area and the jewish community here is large and vibrant and deeply connected to israel will feel a great kinship israel as an unusual mission state and nation civil what people the jewish committee instinctively understands that and a connection between this is very strong of brothers and sisters in the bay area i felt a ve

representatives passed the cyber intelligence sharing and protection act better known as cispa so is cisco what's needed to make the end that safer or is it the patriot act of the internet destroying our privacy to get to that just a moment also last week scores of protesters were arrested outside congressman paul ryan's office the protesting his medicaid killing budget one of those arrested was actor know a while and join us to talk more about last week's events and later thanks to our broken airport security system sikhs in america are subject to racial profiling and unnecessary screenings because of their dress and skin color now they found a way to fight back against the profiling by the out now later in the show. you need to know this last week the republican controlled house of representatives passed the cyber intelligence sharing and protection act better known as system point of system is theoretically to promote cybersecurity by giving corporations and the government the power to share the personal information of online users amongst each other long as those users might be engagin

cisco reporting better than expected third quarter results. but the tech giant is forecasting current quarter earnings that were below what the street was expecting. that outlook is raising some red tlag flags about the company's ability to weather economic weakness. john chambers on cnbc late yesterday. >> the major thing all of us need in business is certainty. and businesses don't spend or react well when it's an uncertain economy. if we understand the issues, we'll make the decisions about where we grow our business, where we invest in resources, how much we give in dividends versus how much we do in share buy back, acquisitions, et cetera. so that's part of the uncertainty that bothers my customers the most. >> shares falling sharply. down 8.6%. we'll talk more with an analyst in the next half hour, try to find out if this will spread to other tech names, as well. and bank of england set to announce a policy decision at 7:00 eastern. the central bank expected to call a halt to its asset buying program despite renewed concerns about what's

so i think cisco started ah ute their quarter a bit soft.t when we report, we'll see hp nominal roulette tis. i alsoty this however cisco has been gaining yoens juniper in adecision knot norlgt market. >> thanks so much for your time. >> we'll see where we go this afternoon. dow down 125. >> right after we do cut our losses, we see that coming in towards the closing bell. >> back in just a moment. ment. the hyundai genesis. in a new, faster-acting formula. s tio-y siin lxtes zemethan a porsche panamera s. the 429 horsepower genesis r-spec. from hyundai. you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... all ] i'm with scottrade. in your fight against bugs. ortho home defense max. with a new continuous spra

under six but they would not need a warrant if cisco passes that already passed the house now it's headed to a senate vote and obama's administration has threatened to veto it but they did the same thing with the n.d.a. and then he went ahead and signed it anyway. if that becomes a wall then it changes the game then the f.b.i. has backdoor access and they can go in without a warrant as it stands you know if they want to monitor somebody's facebook activity and they have a legitimate warrant i'm all for that i'm aware that there is crime out there there are bad guys and we should keep an eye on them but i'm opposed to spying on millions of americans and i feel like the government is already doing these things and is now looking for the legal justification to basically cover themselves why do i think they're doing these things because they're building a two billion dollars data center and wired magazine as reported on this you guys have reported on it two billion dollars data center and the utah desert to analyze logs and go through our communications you in the american citizens not people

. >>> cisco wants to help women with their wardrobe.e story is just ahead. >> minutes from a live update from the new york stock exchange. the dow is up 6 1/2 points. >>> what scientists hope to learn today about the newest falcon chicks perched atop san jose city hall. >>> looking for a little more lifesaving clarity. a look at the drive to discover a better back-up camera for your car. you can seeos >>> it is:44 many tonight marks one year since u.s. navy seals killed osama bin laden in pakistan. security is being stepped up at u.s. facilities around the world out of fear terrorists may try to retaliate. authorities tell us there's no specific credible threat it is just a precaution. there are ongoing concerns terrorists use a new tactic. body bombs where explosives could be surgically implanted into a suicide bomber's abdomen. >> nobody in the u.s. intelligence and security wants to be the person who overlooked a clue. that's happen in the past and we've paid for it. >> u.s. authorities say they've made justments to airport security

sampras said cisco one of our los angeles two-one.prove costly if you do not read the signs. stanley >> this man is the endeavor things in the thai people -- lucky in the type hole for things. the little girl is putting some of this up collected into a bucket. later on she is joined by other people any other needs this to be fine except for this is a marine sanctuary. take a look at this sign. >> with the high tight kemi and, that what people to stay back a hundred feet. there were tons of people ignoring the signs as i was visiting of the weekend. it is a $100,000 fine for breaking federal law. because the rangers cannot be everywhere they hoped the people will see the signs is stay away. this is a brand new program. stanley roberts, kron 4 news. >>darya: as the can look from our mt. tam cam. we can see the clouds that are expected to clear up soon. >>mark: is going to be a beautiful day around area. you can see the bay bridge lots of sunshine. here is is 7 day around the bay. the feet high to the upper eighties in the '70s grew it s

we are taking a look at some of the cisco city hall.k, take a run, in the ballpark here's >>robin: there be a ballgame at one of five it at&t parkinson's up. there is patchy low clouds that it is already warming up. it is mainly sunni this afternoon. is this the breezing along there are mountain temperatures we are at 65 and antioch. is it can happen bay. the winds have been up and down. it is mostly, throughout the bay area cleared his mechanics back to the next few days. it's perfect is the weather. tomorrow will be the warmus day of the week. we have paid a becker's commune. embassy cooler conditions by monday. will be more clout cover for monday. you will be going around the 7 day around the bay forecast. when a combat rigs ysabel: the u.s. as i was leaving this area today. >> the u.s. as iowa was one of the most powerful warships in the world and was brought here in about 1990 and has been resting for decades in irian and now they began to get the idea back in shape. it was great to see them put the american flag on top of tray num

we are a hospice that has been in said for cisco and has served more than 1000 san franciscans. the reason we are supportive of the cpmc expansion, i have heard a lot of people talk about the lack of charity care that cpmc is providing that they feel is inadequate. i have no idea how those figures are calculated but i can tell you that my team would not have provided necker had it not been for cpmc. they sold us the building that we are and in 1995 at half its appraised value because people were dying on the streets and needed somewhere to go. we were able to provide that with their support. they have been general supporters since. i was here during the earthquake. i was in the marina. i experienced the fear, the paralysis of the city during that time. we got away lucky that time. we may not be as lucky the next. the importance of having adequate medical facilities that can care for san franciscans is really important. i look at the bay bridge. it has been 23 years since the bay bridge had a collapse. it is still not rebuilt. please, let's not repeat that mistake. let's get a ho

in fact, cisco estimates the number of mobile connected deviceless exceed the world's population sometime this year. increasingly internet users in aspiring countries use only mobile devices for internet access. the effect that rapidly growing internet connectivity is having on aspiring countries economies is nothing short of breathtaking. the net is an economic growth accelerator. it contributed an average 1.9% of gdp growth in aspiring countries for a total of $366 billion u.s. in the year 2010 alone. in some developing economies, internet connectivity krinlted up to 13% of gdp growth over the last five years. in just six aspiring countries alone,s 1.9 million jobs were associated with the internet. these positive trends must continue. granting the itu authority over internet governance could result in a partitioned internet. in particular, faultlines could be drawn between countries that choose to opt out of the current highly successful multi-stakeholder model and live under governmental regime and those member states who decide to stick with what has worked. a balkanized internet wou

area based company, third quarter openings, the forecast going forward is a bit disappointing for cisco. >>> and now there are four, for tomorrow there will only be three. >>> getting ready, the judges on american idol are about to make a big decision. >> the surfer, the monster wave earned him a spot in the guinness book of world records. >>> and getting out to 880, we will tell you more about the morning commute. america's beverage companies have created a wide range of new choices. developing smaller portion sizes and more low- & no-calorie beverages... adding clear calorie labels so you know exactly what you're choosing... and in schools, replacing full-calorie soft drinks with lower-calorie options. with more choices and fewer calories, america's beverage companies are delivering. . >>> good morning it is cool out there, sunny breezy and nice, 60s and 70s and lower 80s for most. >>> well a new record for the largest wave ever -- surfed. he caught a 70-foot wave off the coast of the portugal. the previous record was surfed off the california coast seven years ago. he was recognized

i am youth of the year% and cisco and will be competing in sacramento later this month for the state honor. thank you for your time and for organizations like boys and girls club. ozzie >> good evening, everyone. first off, i would like to thank everyone for giving us the opportunity to speak tonight on behalf of the boys' club of san francisco. i am is senior at el camino high school. leadership is a trade that we really admire -- a trait that we really admire, but the street i never really had until i was chosen with a program. the program taught me time management, hardware, and humility. being part of the program helped me change my pattern of worked where i did not do anything and got below a 2.0 and help me get a 3.0 average when i was struggling. [applause] >> hello, everybody. through the boys and girls club program, i got into the keystone group, and i am president of this group. it focuses mainly on career academics and community exploration. that is all. thank you. [applause] and thank you again for your time, and please come up to one of our clubs at your convenience. [ap

. >>> cisco systems beat analyst earnings expectations by a penny a share today but stock felony way.nvestors reacted to lukewarm forecasts for earnings next quarter and cisco shares fell more than 8% in after hours trading. management said, uncertainty about the european economic situation is effecting projections. >>> beautiful day today, bill martin is in the weather center, tracking great spring like conditions. >> a five day forecast you will like. it did cool off today you will see that here on the live storm tracker. you can see the heat in the fallly. looks like a summer deal -- valley, looks like a summer deal. and lower temperatures in this area, because of that little bit of a sea breeze we got, or late last night early the morning and then this afternoon. that cooled things off a little bit highs today as i mentioned were cooler than yesterday. yesterday was warm, low 90s inland. highs tomorrow, the same, maybe a degree or two cooler, or a degree or two warmer in others. that temperature profile is what you will experience tomorrow as you move through the bay area thursday

disney and cisco beat analyst expects although cisco had a disappointing outlook for the rest of the year and that stock was under pressure. more trades a sixed rate mortgage kicking down to 3.83% this week. >>> what happens when a big bank makes a big mistake? could it mean more government regulation? joining me is austin goldsby, university of chicago booth school of business, former chairman of the council of advisers to president obama. let me kick it of with jpmorgan's big banking blunder. a $2 billion loss from the bank's chief investment office. i find this interesting because it really has been jamie diamond who has been among the very vocal people against the vocal rule against, you know, the idea that more regulation is going to hamper what they can do in terms of proprietary trading. does this set the bank and the industry back in terms of more regulation? >> i think it does. i wouldn't say more regulation. that's the regulation they passed. it strikes me it's exactly what the rule was intended to prevent. and you saw the reports from the "new york times" that regulators h

the dow components disney and cisco both beat analyst expectatio expectations, though cisco had a disappointing outlook for the rest of the year. >>> mortgage rates have fall ton a new low once again. the average rate for a 30-year fishgsed rate mortgage ticking down to 3.83% this week. >>> what happens when a big bank makes a big mistake? could it mean more government regulation? joining me, austan goolsbee, former chairman of the council of economic advisors for president obama. thanks so much for joining us. >> thanks for having me. >> let me kick off with jpmorgan's big banking blunder, a $2 billion loss from the bank's chief investment office. i find this interesting because it really has been jamie dimon who has been among the very vocal people against the vocal rule, against the idea that more regulation is going to hamper what they can do in terms of proprietary trading. does this set the bank and industry back in terms of more regulation? >> i think it does. i wouldn't say more regulation. that's the regulation they passed. it strikes me this exactly is what the volcker rule was intend