anthony greco from cisco, and as you would know, cisco is a leading provider of technology for enterprisesund the world, and as i thought about this topic of really driving innovation and transformation through digitization and iot, i really thought about we should be thinking about the partnership from the relationship of what large enterprises are doing today, what's working and what isn't because part of the partnership between cisco and private sector companies and the air force and the associated department of defense entities is really about bringing together the best knowledge across the world and helping our armed forces be more effective in what they're attempting to do. so with we think about what's not working in the area of innovation and this disruption that's happening we see a lot of challenges looking across the globe and what's really interesting is when you look at whether it's in the media or apj or here in the united states and we see enterprises struggling with very similar types of problems. first, they spend a lot of time fighting policy and capability that's not kee

josh lipton focuses in on cisco's quarterly results. >> case cisco investors pay close attention to the infrastructure platform segment which rose 10% to a better than expected 7.6 billion. that's thes compan core networking offering, related to switching and routing. piper jaffrey jim fish that's important because it's it shows the core on psmises business alive and well and that accounts for the bulk of their business. afisho notes that deferred revenue was down in the quarter. but he says thas likely due to new accounting changes. for nightly businesseport i'm josh lipton in frist. >>emacy's profits w stronger than expected. the retailer said more customers made purchases on smartphoning the total revenue grou but shy ar wall street's expectations. that miss atly sent shares down by 7% today. e points ofhere w strength do you agree the quarter, thereere also are of weakness. and courtney reagan reports for tonight. macy's momentum continues. the department store reporting growth on comparable sales for the fourth quarter and the expects the streak to continue into the holiday sson. t

what do you make of that, that names like microsoft, oracle, cisco, older tech heavyweights that areaving new life, that they can perform decently well into next quarter? >> i don't know, i'm so glad you brought up microsoft and cisco our other guests, it could be well right, but people are saying what he said about microsoft, cisco, intel, three to six months into the decline through 2002 what you have to realize is we reached a four standard deviation event two months ago where growth outperformed value by 50% over the prior seven or eight years. same 50% it outperformed from middle of '96 through the early 2000 point the problem is when the hedge fund guys bail on levered trade, that's fine and dandy. the problem is where does a stock bottom that starts at 120 times earnings in the case of microsoft, it was a 65% peak decline from 2000 to 2003 cisco, 90% sun, micro systems and others are nowhere to be found. they're in the rubble pile somewhere, so the question isn't who is going to survive and prosper because microsoft and cisco and intel did survive and prosper, but they went 15

the $10 million check from cisco was handed over on tuesday. >> it is a reflection of our commitment to affordable housing. >> it is about providing equitable access to the residence whether they are employees of this company or anywhere. >> we are smaller than the other two companies and we know the $5 million is enough to make a significant difference. >> reporter: the money is on loan to the housing trust silicon valley. they use a fund to invest in smaller developers who would be able to compete otherwise in the housing construction industry. >> we have a pipeline of deals with these borrowers are going to be able to put it quickly. >> reporter: 15 projects have been launched equaling about 1500 affordable homes. some applaud the effort but counter there is a more immediate need. >> we need new shelters and navigation centers because the immediate need is to get people off the street. >> it helps the homeless. a lot of these projects are built for those exiting homelessness. >> reporter: the companies expect to see their donations repaid over five years. the same timeframe over w

lance in arkansas on palo alto network versus cisco pick now palo alto or cisco. >> palo alto is in thetest space of software right now where cisco is really leveraged to the global economy. you have two different issues. palo alto looks expensive on today's numbers if you look forward it's actually looking inexpensive relative to their growth rate and down significantly. so if you're willing to hold on to palo alto for a long while because they have a quarter coming up and may miss the quarter and i don't know if it's good or bad. the market say it's good because it's rallying. i rather buy it after the quarter. cisco is a great company and great in a down market >> joe, this is a name you follow >> it is a name that i got out of at the right time >> you go cisco over this? >> no. i go palo alto when i do step back in. >> we own both in our growth portfolio. we think you can own them both >> thank you more blood on the street for hedge funds. we're following the money when the alimre"hfte port" comes back in two minutes for decades banks have been getting away with it. charging you exc

. >>> and after the bell we'll get earnings results from cisco.ue out at top of the hour. keep it here you're watching cnbc, first in business worldwide sometimes, they just drop in. cme group can help you navigate risks and capture opportunities. we enable you to reach global markets and drive forward with broader possibilities. cme group - how the world advances. ♪ at&t provides edge-to-edge intelligence, covering virtually every part of your finance business. and so if someone tries to breach your firewall in london & you start to panic... don't. because your cto says we've got allies on the outside... ...& security algorithms on the inside... ...& that way you can focus on expanding into eastern europe... ...& that makes the branch managers happy & yes, that's the branch managers happy. at&t provides edge-to-edge intelligence. it can do so much for your business, the list goes on and on. that's the power of &. & when this happens you'll know how to quickly react... is it because so many go after it the same way, chasing after short-term return

senator byrd, the republican worked very effectively together and one of the lessons we learned at ciscowe did very well on is we worked very closely with government in terms of very legitimate needs on internet and security and was in 2000 to 2010 and we also worked on on. >> john? >> go ahead. culturally, when we read "the new york times" account, taking it for what it actually says, the ways that the leaders responded to hear that they were facing challenges from russian interference perhaps at levels they hadn't expected and they're trying to protect their reputation and deal with the problem at the same time perhaps they got the balance of that wrong how do you correct for that once that becomes public as a leader? >> well, i think when something becomes public, you have to deal with it very quickly and you have to get everything out on the table and you also have to, and this is important, we are playing out this chess game and we're jumping, john and carl and morgan right into the middle of the chess game you need to start before the game starts and develop responsibility and we w

my exclusive with cisco. i'm digging deep through the numbers with the ceo after earnings i say stick with hormel? no cramer >>> don't miss a second of "mad money. follow @jimcramer on twitter have a question? dmeycno an e-mail t maon @bc.com or give us a call. miss something, head to madmoney.cnbc.com. frps - i love my grandma. - anncr: as you grow older, your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she outsmarts me every single time. - checkmate! you wanna play again? - anncr: prevagen. healthier brain. better life. i that's the retirement plan.e, with my annuity, i know there is a guarantee. it's for my family, its for my self, its for my future. annuities can provide protected income for life. learn more at retire your risk dot or

but cisco has an interesting cloud basis. >> we are winning business from them all the time. number one provider or company that we replaced happen to be cisco followed by avia. >> chuck roberts is a competitive guy. how do you know he doesn't step up. >> it is a big field we are in the lead all of the legacy providers is in decline cloud is doing well and we are doing 50% better than cloud on average. >> taught me how to code and push things, now can that be a friend or an enemy >> he is a great guy so that's for sure but that aside, so what it does is they enable developers to voice and text message enable. what we do is we replace cisco avia, legacy software, and we replace them enabling corporations of any side from small businesses to large international enterprises and we enable them to replace things with a cloud solution. >> and dimmolo, what is that added to your business. >> it is a french company. that is a customer digital engagement so people used to communicate mostly via voice what is happening nowadays, is that people more and more want to communicate via othe

>> reporter: nicole johnson says pure storage along with tech titans linkedin and cisco are donating a combined $20 million as seed money for low income housing construction. cisco's $10 million check was handed over tuesday. >> i think it's a reflection of our commitment to affordable housing. >> it's really about economic opportunity and making sure that we provide equitable access to opportunity for all members of this community, whether they're employees at any community or anywhere. >> we are a bit of a smaller company than cisco and linkedin. but for us, the $5 million we know is enough to make a significant difference. >> reporter: the money is on loan to the housing trust silicon valley. that nonprofit uses a-year-old text trust fund to invest in small developers who otherwise would not be able to compete in the housing industry. >> we have a pipeline of deals with these borrowers and we are use fairly quickly. >> reporter: so far, 15 residential products have been launched in silicon valley, equaling 1500 affordable homes. some critics applaud the effort, but counter there i

including several cisco state and san jose state. the university of several cisco, santa clara university, and cal state east bay. >> we have compiled a more thorough list of school closures on her website. you can check the website for your child's school district. it's leading many playgrounds nearly empty. >> is a little bit eerie. usually there's a lot of kids on playground like this. it's been pretty empty. it's too hard to keep kids inside all day. >> this mother said she had to get her 4-year-old son and 1- year-old daughter out for an hour or so before heading back indoors. she took her two children to lincoln glenn park hoping to keep them from going stir crazy. >> people traveling to see if cisco can avoid walking or biking outdoors. they are stopping cable car service due to concerns about operators and passengers being exposed to the smoke. the shuttles will provide service on main cable car lines. the dirty air is causing delays, bay area airports -- it was hard to see the planes through the smoke. passengers were delaye

semper cisco and contra costa counties are making similar protection. governors races are taking place in several states. gavin newsom has a firm lead over john cox at the polls. they show him with a 17. lead going into election day. >>> control of congress is up for grabs. republicans control both houses but that could change tomorrow. gives democrats a seven out of eight probability of taking control of the house but i one the senate. lauren blanchard is following the run up to the election and is live in washington with details.>> reporter: it all comes down to tuesday. the entire house is up for grabs and a third of the senate. a majority of states could have a new governor after americans cast their ballots tomorrow.>> reporter: experts say tuesday's elections are on track to be the most expensive in history. voter turnout could rival president election year in some states. president trump tweeting and showing his support with after rally. >> everything we have achieved is at stakeverything because they can take it ar just as fast as we built it.>>

cisco shares finished down 9% today to $64.56. and results of a new clinical trial show that eli lilly's top selling diabetes drug reduced the risk of heart attack a stro in people with type 2 diabetes. the company did not detail the magnitude of the risk reduction but executives did say that they plan to release the full results of that large scale clinical trial inune. eli lilly shares rose 3% to $110.14 today. >>> verizon is restructuring the business lines based on the types of customers served. the three groups will be ns er, business, and verizon media group. this is one of the first major organizational changes under the new ceo. verizon shares were up 1% to 7.21. >>> berkshire hathaway's profit doubled in the recent quarter. they reported earnings over the week and said it's insurance business benefitted from lower aixes. an and ceo warren buffett repurchased about $900 million in stock in the third quarter. shares at berkshire hathaway class a popped 5% to more than $323,000. >>> and after the bell, marriott international

they have smaller billings in semper cisco already. this should open by 2021. >>> virtual schooling is gaining popularity and some parents say it has changed the way their children learn. opponents russian how effective virtual schooling has everything online. the teachers teach via webcam and classmates homework. supporters think it's another avenue to give students and parents more choices for education but charter school officials say this system is not working. >>>>> school superintendent is apologizing after some teachers dressed up as mexicans and a border wall for halloween. they were carrying the make america great again slowly. the teachers placed on leave. the superintendent said this was a result of poor judgment. >>> a major change in what early dancers look like. the oldest shoe maker is offering shoes for ballerinas who white. originally they were quite so the dancersng. now they offering brown and bronze for dancers of color. >>> this is amazing, especially because the times are changing. there are so many different colo

cisco stock is up 4.5% in the early going.ck market has been struggling mightily over the past few sessions, apple has been a big reason for that on a slew of weak iphone supplier earnings reports. apple is rebounding this morning up over 1%. we'll see if that's enough to lift the stock market. let's go to the big board and see how we're doing. it's not enough. the dow is down over 100. the nasdaq is up 7 thanks in large part to cisco and apple. the s&p down 11. back to you. >> thank you. >>> a new cirque du soleil show is coming to san francisco. "volta" is around motorsports. you will see high-flying performances. it's set to electronic dance music. that's the bump, bump, bump, bump. >> that's it! >> this is the 30th anniversary of cirque du soleil performing in san francisco. the show runs through february -- that was good, kenny. >> what about you? >> be-bop? >> oh!! >> that's all i got, everyone. >> all right! >> take it on the road. >> i love it. >> your time to ramp. >>> let me rap on some traffic here. we got a lot goi

traffic is finally moving again along i-80 here at cisco grove. fruit has been a the first storm of the season , cal trans had to halt in traffic because of all the spin outs. this is what i-80 in the sierra has looked like most of the day. a virtual parking lot. as the first storm of the season caused big backups. >> expected. we kind of knew it was to be expected. >> crazy. we're going for the whole weekend, supposedly. who knows. >> reporter: a lot of people from the bay area are heading to the mountains, hoping to enjoy all the new snow. a fresh blanket of powder has fallen, but reaching it has been a challenge. >> nobody knows how to drive in the storms yet. it will take time. that's all right, we have patience. >> reporter: those who didn't pack a lot of patience pulled out of at the first sign of snow. enough for a little sledding an. again, this is what it looks like right now on interstate 80 in cisco grove. it is wet and it is slick. if you're heading up to the sierra, give yourself plenty of time. >>> people want to ski, which is great

guy where do we go with cisco. their guidance is good on enterprise spending. >> the quarter was good. bet on eps and revenue that's good operating margins better than the street was looking for almost 32% the street was probably 30.5%. very good. the sque second quarter guide in line not a big deal. what are you willing to pay for this company probably trading close to 14 times next year's earning. 9 and a half to the 10%. eps what's the right multiple i would be inclined to by it upon a market resistance at a number of than more inclined to fade here than buy here. >> what's interesting is chuck robins talked about the no demand decrease after the tariffs. but what we know from the gdp reports and see people were front loading a lot of purchases. so maybe that's the affect here. maybe the guidance was good but it wasn't blockbuster. wasn't like they raised it necessarily. so maybe that's what we see here i guess i'm more in the camp with guy wait for the momentum on this because there might be other things going

billion and there was talk it's going to go to a chile and then you have the dot com collapse and cisco declined sixty or seventy percent or more and stayed down in the basement for a while so it seems like a repeat of that kind of collapse of a highly. hyped sector in the stock market and there are too many people in the marketplace today like i heard some kids talking in new york saying oh my portfolio is down because of facebook and amazon and apple are down a bit but i'm not worried about it because they're going to triple in the next ten years and i was just thinking to myself oh my god what are these guys thinking about going there in the dot com era it was a oh well everyone yahoo yet they want to own a.o.l. they're like oh you know a lot of us are going to buy stock in iowa and then a collapse you know here when i'm in a hipster cafe suddenly i see everyone song go bang bang bang meaning minister robin hood app and alerts people on their stocks are down five percent or more and i see as many as i want to get their phone like oh no. you know they get all them thinking. this could

cisco's $10 million check was handed over tuesday. >> i think it's a reflection of our commitment toing. >> is a really bad economic opportunity and making sure we provide equitable access to all members of this community, whether they're employees of any community, or anywhere. >> reporter: we are a bit of a smaller company than cisco and linkedin, and, or us, the $5 million we know, is enough to make a significant difference. >> reporter: the money is on loan to the housing trust silicon valley. that nonprofit uses a year-old tests fun to mess with small devepeable to compete in the housing industry. >> we have a pipeline of deals with these borrowers and we are going to be able to put it to use very quickly. >> reporter: so far, 15 residential projects have been launched in silicon valley, equaling 1500 affordable homes. some critics applaud the effort but counter there is a more immediate need. >> what we need first is new shelters and navigation centers. the immediate need is to get people off the streets. >> it helps the gamut including homeless. there's a lot of these projects

power in congress means the democrats have some room to push back on the trump administration's poll ciscoepublican gains in the senate seats are locked in for six year, >> california voters reelect senator dianne feinstein to a sixth term. we'll go live to her election celebration coming up after the break. (music throughout) . >>> a bitter fight is going down to the wire in georgia. democrat stacy abrams would be the first black female governor in u.s. history. she's trailing brian kemp, the current secretary of state. kemp has 55% of the vote and abrams has 45%. abrams has accused kemp of abusing his power. abrams says she thinks a run off is likely. >> in florida the race for governor was a very close one. republican rob desantis faced off against andrew gillum. gillum conceded defeat. you can see how close it was, 51% to 49%. >> u.s. senator, dianne feinstein poise to have a sixth inerm in congress. >> dianne feinstein with 54% over kevin de leon's 46%. it was a very festive atmosphere at the feinstein party. amber. >> reporter: julie, frank, there are still a few people here even tho

this is the model for separate cisco, but it works for all of us. the afternoon hours, same thing. bay area kind of post journal instability. we'll see a lot of that tomorrow with temperatures in the 60s. kind of a mild day. maybe upper 50s, and the five day forecast, -- tomorrow is marked by wet weather. i hope you have a day off. you can kind of kick back and enjoy the rain. there will be chances to get out, but it will start and stop, and it will start, and it will stop. monday is not too bad. we get into something again, looks like we get into a wet weather pattern. it is amazing. we talk about how quickly things flipped. we are doing a fire story, we are doing no rain. and then, snow, rain, smoke is gone. fires are out. here we are talking about winter. >> every time you say i hope you have the day off, i was go i don't have the day off. >> hey, actually have tomorrow off. >> when the rain started again tonight, it is surprising how fast the water buildup on the roads. yet to be careful it is dark. >> there was a lot of cars out there. there's a lot of standing water. >> do yo

he is not graduating in the university of's seven cisco. he has turned his life around. still threatened to hold him back. he is getting help from the very people who once put him in jail.>> reporter: he has completely turned his life around. here in this county courthouse in dublin, he got additional help from both seem like two unlikely sources. the police detectives who arrested him, and the deputy district attorney who prosecuted him.>> almost my entire life has been dictated, and by those actions -- and it's gone. >> reporter: he grew up in north. some of his accomplice ms. -- they were involved in 17 robberies. >> i knew seven people who died. i lost hope. detective arrested him. at the end of that interview he said basically i messed up and he talked about what he had done. this wasn't an end for him. he said this is going to be my low point and i'm only going to do better from here. >> i will say three or four days ago asked him where -- what can i have done differently as a mother. >> that was then. this is now. >> editor my felonies into 4.0's. he was to go to

. >> cisco is going to lead the s&p at the get go.se took the target to 44. >> we didn't get to ask you about -- europe was -- >> europe was very strong for robins and cisco. what happened when i talked to analysts after, they said that was the last good quarter that is going to be strong. i said how do you know that? >> maybe they are looking at german and japanese gdp going negative just as one data point. >> i said it. it's all late cycle at this point. i'm looking at the transport to see -- i'm grasping at the preverbial paper straws. >> late cycle, late cycle which means what we will have a recession next year >> that is what the hedge funds are telling me. >> i know you are very focussed on their wealth today. >> aren't you confused about david tepor? >> apple, i thought it was pg&e. >> which gets a downgrade today after yesterday's -- >> negative situation. >> pg&e is down another 11% as every lawyer possible in the state of california has been either hired or contacted by a hedge fund to advise them or figure out their way thr

cisco systems on tuesday pledged $10 million dollars to the fund, whle linked-in and the mountain view based pure storage donated $5 million dollars each, says the housing trust's julie mahowald.julie mahowald/housing trust silicon valley ".....we are so excited to have the three companies come together as a partnership and show their faith in the housing trust and how we can quickly take their invested dollars and break ground and get housing built..."the "2nd street studios,' at second and alma in san jose is another housing trust project. the tech fund was established as an avenue for tech companies, many of whom have been criticized for helping to create the housing shortage, to do something about it. juie mahowald/housin g trust silicon valley "...that pressure is out there. it isn't the full responsibility of corporations but they have people who live here and they recognize that these are problems right here in their back yard that then can help solve...."to date, tech fund dollars have helped finance15 affordable housing projects with a combined 15- hundred low income homes.rob

the companies are linkedin, peer storage and cisco. cisco will cut a $10 million check today. and philanthropist to help build homes. especially for low income families. tech fund money has been used to get 15 residential developments off the ground throughout silicon valley. >>> a salesforce will open its financial books. after the closing bell. the software had a rough three months. stock prices down 20 percent. 70 percent of the company's revenue comes from north america. analysts are expecting to see a strong growth from the asian and european markets in this new report. members of the united autoworkers say they will use every legal option to fight general motors after the automaker announced plans to shut down five of its production plants. including two in detroit and ohio. >> this country has done a lot for general motors. be better get back in there soon. >> president trump emphasized he would push for more auto jobs in the states of ohio and michigan. the president of gm says americans are shifting their focus from cars to suvs and trucks. there is less demand for ca

cisco systems on tuesday pledged $10 million dollars to the fund, whle linked-in and the mountain view based pure storage donated $5 million dollars each, says the housing trust's julie mahowald.julie mahowald/housing trust silicon valley ".....we are so excited to have the three companies come together as a partnership and show their faith in the housing trust and how we can quickly take their invested dollars and break ground and get housing built..."the "2nd street studios,' at second and alma in san jose is another housing trust project. the tech fund was established as an avenue for tech companies, many of whom have been criticized for helping to create the housing shortage, to do something about it. juie mahowald/housin g trust silicon valley "...that pressure is out there. it isn't the full responsibility of corporations but they have people who live here and they recognize that these are problems right here in their back yard that then can help solve...."to date, tech fund dollars have helped finance15 affordable housing projects with a combined 15- hundred low income homes.rob

new details on cisco's latest cutback. >> we are looking at traffic, 580/680 interchange.ll be right back. rundown-director time is 5-- (toni vo) 'twas the night before christmas, and all thro' the house. not a creature was stirring, but everywhere else... there are chefs, bakers and food order takers. doctors and surgeons and all the life savers. the world is alive as you can see, this time of the year is so much more than a bow and a tree. (morgan vo) those who give their best, deserve the best. get up to a $1,000 credit on select models now during the season of audi sales event. <<>> <<>> <<>> >>> good morning. clear skies as we start off the day. here's a live look at our "salesforce tower" camera looking south. cool to chilly conditions. 53 in downtown san francisco. it is 5:42. we'll talk about what you can expect with that high fire danger that goes into effect tonight. i'll have details on that coming right up. >>> i'm anne makovec at the live news desk with new numbers this mofogeorgia govern this was an historic rac

it is focused on marin county to separate cisco and parts of the coast.o over the bay. 50s for the temperatures with the wind direction out of the south with gusts 2511 35 miles an hour. the cold air is set to arrive late morning early afternoon with the wind direction turning southwest. this system will give us a wide variety of weather. rainbow weather today. baby a report of funnel cloud. 50s and 60s on the temperatures and one more fast moving system saturday. it should be done around noon. it will be cold air and dry sunday and monday and it will feel cooler. >>> thank you. 6:21. in an age of constant medical advancement life expectancy is declining. coming up, what the doctors think is to blame. in washington democrats have nominated nancy pelosi to be the next speaker of the house. there is still an uphill battle she faces. >>> [ phone rings ] what?! ready for christmas? no, it's way too early to be annoyed by christmas. you just need some holiday spirit! that's it! this feud just went mobile. with xfinity xfi you get the best wifi experience at ho

after the close cisco reports. i think this internet of things tech tighten tan is hitting its stride we've been telling club members that cisco is doing well and has a terrific management team led by chuck robins. i am looking for a good number augmented by the decline in price for a lot of components they buy if you can get it around these levels i think it's a good thing. i think it's worth buying. i can't wait to hear what walmart says thursday morning. i suspect it'll be good. walmart's last call was a smash hit and i bet we get another one. i think their online numbers will be excellent too and listen if they talk about tariffss if they talk about a ton of merchandise from china the main thing i care about, 100 million shop there every week. i don't think that's happening, why i still remember a rate hike semiconductor pick of the litter applied material and some say lamb is better than them and then, wow, maybe the best manufacturer these days on earth, nvidia. my favorite in the space you could argue the se

varias víctimas se hicieron el el litigio en zona cisco.eas diferentes programadas para revisión y no estaban en operación. instigadores aún no han determinado la causa defuegos. >>> autoridad civil residentes preocupados al ver imesenes de tecnología infrarroja. >>> después de enviar sus condolencias a las víctimas, el presidente trump ordenó al secretario del interior a que visite la zona en california. en este mensaje los comentarios fueron completamente diferente a los del fin de semana. a medida que pasan las horas conocemos nuevas historias de supervivencia y también de luto. >>> como nos cuenta nuestro reportero en medio de la tragedia hay personas que ven una luz de esperanza. >>> ya son muchos los días que vemos estas imágenes. la ciudad paradise es un infierno. >>> son recuerdos cosas tuyas. >>> los bomberos trabajan a toda marcha. >>> trataba de controlar este incendio, muchos bomberos deben trabajar. >>> esta hija abraza a su padre debo de días de agonía. lo encontró durmiendo en un estacionamiento. finalmente lo encontraron. es

cisco and walmart the biggest decliner pg and e was the lagger.how would you sum up the market activity today? >> second straight day we had a real midday rally. dow down owl most 300 points both days. it resilient but also indecisive they didn't see a lot of follow through. i do think a few thinks to note traders are looking at a market that is trying to figure out if these are the lows chinese stocks vastly outperforming the u.s. market this week. you can see a lot of leading areas that kind of drove us down are finding their footing. apple got a little bit of traction i think you're able to put some of these together and say okay they are the makings of something more i think the mind set has been wounded at this point. you don't see a lot of aggressive buying. it has not been that climactic flush. i think some are waiting for that in the downside >> we know evaluations came back from their peaks does it sort of suggest he thinks that the pull back is finished and is it enough to convince others or no? >> i would say it doesn't render much of a

cisco systems first quarter results beating forecasts. the company citing strong sales of its flagship network routers and switches, but trade turmoil with china remains front and center for the company here's what chuck robbins told jim cramer last night on "mad money. >> we implemented some price increases as we said we would. we didn't see any difference in the momentum we saw before that and the momentum after that in the quarter. we would prefer that the tariffs don't get increased to 25% in january. my belief all along has been once we got through the midterms that the administration would focus on this we're beginning to hear positive sound bites around this i'm optimistic that we'll get to some resolution >> cisco says it is looking to move manufacturing to some other countries. >>> berkshire hathaway is doubling down on the banking sector they took a new $4 billion stake in jpmorgan chase in the third quarter. they also invested in oracle for the first time ever but shed holdings in walmart. all of those stocks are on the move th

in 1984, she and her then husband started cisco systems.nd a way to link networks of computers. the foundation of the internet. but six years later, venture capital people were running cisco. how do you get fired from a company you started? >> we basically got taken to the cleaners and part of that was, if you don't have a contract, i got fired by the same guy who fired steve jobs. >>chris: [laughter] lerner had a second act.she started a cosmetics company called urban decay with edgy colors for women like her. in 1996, she bought - - farm. >> it's historical historically people who has the disposable income that had farms. >>chris: cattle and those turkeys which ceases taste better because of the lives they lead - - taste better. how much does it cost compared to what i'd get in a grocery store? >> our turkeys are expensive. they run this year about $160-$200. >>chris: at those prices, there are questions about how to make this farmingprofitable. while lerner is determined to run a sound business, it's not just about the bottom line . ther

tempered cisco and berkeley. back to you with the desk.>>> some fresh faces in congress. still to come -- these lawmakers could be the new leaders of the house.>>> plus, could this be the end of a dynasty? the latest on the clash between draymond green and kevin durant. will both players leave? >>> back to mornings on 2. tonight warriors play the rockets in houston and draymond green will be back from his suspension. he and kevin durant argued earlier this week. they suspended draymond green without pay for tuesday's game against the hawks. this decision was surprising. the fans are worried about what will happen to the future of the warriors. kevin durant's contract expires at the end of the season and green is a free agent after next season. >> all these dynasties -- it's always stuff like this. it's never another team got better. no matter what, are you serious? you are suspending me? i could see why you would think that. potentially if everything makes wrong they could lose both these dudes. >> that is wild. espn reports that the players supported a suspension, not a

issuing a challenge to the poll cisco of president trump. >>> the 11:00 news on ktvu fox news starts now. >> a big night for politickings as democrats win enough seats to regain the majority in the house of representatives while the republicans add to their majority in the senate. >> here in california gavin newsom defeated john cox to become california's next governor. here is the latest vote count. newsom with 57% of the vote, john cox with 43%. >> heather holmes is at the victory party. >> reporter:lt. governor is set to become the 40 governor of california. he took to the stage to thank supporters and star and he also used his victory speech to stand up against the trump administration saying that california is not only a state of resistance but a state of results. >> it's a state where, you know, we don't criminallize diversity. we celebrate diversity. we don't reject, we protect the most vulnerable. we don't put profit and loss ahead of clean air. we don't put profit and loss ahead of clean water and clean coastlines. we don't regulate a woman's body more than we regulate assau

google led the way there tech names higher on cisco and even apple is going up. every rally needs leadership, where do we get it from once the market turns around? kingsview asset management and scott martin. scott what will take the market higher. will it be a broader base of leadership this time around? >> it will probably be broader, charles, you're right. the tech names rightfully so are out of breath here. they have been running for years now, taking this market higher amongst some real weakness among old time leaders like our fathers leaders which have been financials. for us we're looking at new names. we're looking at names maybe in the industrial space or health care space as well, charles, because i think tech rightfully so is taking a good breather here. i do believe they will emerge. look at prospects of a trade deal breaking today even with china as reported by "the ft." those are areas where you can be a little more constructive. charles: talk about financials for a moment. they have been an unmitigated disaster this year. all the mavens on wall str

your original plan was you wanted to be called -- >> cisco. >> seth: cisco. [ laughter ] and you wantedone. i don't -- but i didn't really know. >> seth: you didn't really know, and what happened was we all, my brother and i, josh and i, still call you hurry and yarry. >> right. >> seth: which are nonsense names we've called you our whole life. >> right. >> right. >> seth: which were the nonsense names you guys called each other when you met. >> not the first day. >> not when we met. no, no. not right away. >> no, he was putting the moves on me then. >> seth: no, i mean. >> no. >> seth: i would say -- [ laughter ] >> hey hurry. [ laughter ] how you feel girl. >> why were -- [ laughter ] >> seth: it was your pickup line was to call her hurry. >> yeah. never worked before. >> seth: yeah. but now, so that's what he calls you is hurry and yarry. >> yeah, but they -- paca, he puts the paca in front, like grandpa. >> seth: yeah, he thought for whatever reason, grandpa, when he said it, was paca. >> paca. >> seth: so you're paca hurry and paca yarry. >> yeah. >> seth: so i feel like when they

this is about 45 minutes.speaken wilson along with executives from cisco and at&t.s is about 45 minutes. ♪ ♪ >> thank you for being with

had pretty good numbers as we reported last night. >> cisco did but you also talked about jcpenney and walmart that didn't. so i would say what is relevant not the 200 point feign or the fact that the market came back but fact, very first thing you said, which is the market is so volatile. so the rest of the world is looking pretty darn bad right now. we can tick down a long list. the fact we have no idea what happens with the trade situation. connell: right. >> if you had to guess, you would guess not food. so the u.s. can't be only place that does well forever as "the wall street journal" pointed out this morning. eventually that is a problem for the u.s. economy also. connell: agreed. guys stay with us. we'll come back to all this. melissa: facebook facing some major issues. ceo mark zuckerberg and coo sheryl sandberg under a lot of fire following a bombshell "new york times" report surrounding the company's handling of suspicious russian activity on social media site. now facebook is responding. kristina partsinevelos in the newsroom. this article out of the "new york times," the c

at cisco grove. back to you. >> have to get some perspective. >>> next up, we'll get kari's latest timing on the rain and how much we'll see. >>> plus, continued team coverage from the south bay, east bay, north bay and the mountains. the latest conditions from our crews on the ground. 6:28 right now. you're watching "today in the bay." this little home of mine, ♪ i'm gonna let it shine. ♪ it's energy saving time, ♪ i'm gonna reduce mine. ♪ californians all align ♪ to let our great state shine. ♪ let it shine, ♪ the power's ours to let it shine! ♪ tracking the storm. you )re looking live at the rain... nbc bay >>> right now at 6:30, tracking the storm. we have a live look at the rain this morning. take a look at the radar. nbc bay area storm ranger scanning actively to give you the most accurate view of the rainfall. >> among those issues we're seeing already saturated soil. just look at this big tree which came crashing down onto that truck overnight. this is in the north bay. >> in the south bay, c

municipal workers in the cities like san francisco could afford to live in and from cisco and they can't anymore. >> you mentioned 1970 -- by the way we are going to take some calls. here again her book squeezed by families can't afford america. we will put the phone lines on the screen and save enough up quickly 20,274,882,001 east and central time zones, mountain and pacific 748-8201. we will get to those. we are talking economics with alissa quart. >> guest: it was a lot of different this latest historical forces startingta to conspire against middle-class workers. you start to have a lot less. anybody now understands and they buy healthcare it's less affordable than it was when my parents had me, for instance. there are contractions occurring many of which were either local or federal. >> host: does that cause a squeeze on the american families economically? if you se see the heading of companies flourishing and then you see the people who work a fr them the professionals that once were secure marketing necessarily a tie for the autoworkers who no longer have job security to library

. >> i'm trimming, i see cisco up today? >> that's your job. >> i'm also supposed to be enthusiastic and i'm supposed to be invested. cisco had blow-out earnings, i'm taking the strength and i'm trimming a little bit. >> jim made a good point about fear setting into the stock market and having an impact on the real economy it doesn't always happen, but there is press debt. in 1998 we had an asian contagion a currency crisis halfway across the world the u.s. economy was doing great. but the stock market still fell 25%. we didn't have a recession, and actually the fed did react to that they might have overreacted if you ask certain people but there was a massive, massive rate cut and a huge statement by the fed that they were acknowledging what was going on in currency markets and stock markets. >> disruption in the markets. >> it was not an economic event. >> a joke what people tell about what jim just said the stakt has correctly predicted nine of last five recessions and just want to be careful with that. >> it would be, yo

we talked earlier about cisco making money.r is losing money, right. >> i would like to point out they are not publicly-traded company so they don't have to release a report but they are seeing a lose of $1.07 billion for the third quarter. that is 20% higher in terms of losing money for last quarter. still better than last year. year-over-year seeing improvement in that case. if we're talking about bookings, uber is a ride hailing service. they're seeing total bookings up 6% year-over-year. this is the news part of the release, going ipo expected in first half 2019. according to a dow jones report coming out. they want to go against their competitor lyft going possible in 2019. getting ahead of the game should there be any turbulence in the market. if you look into the further into the point, soft bank has 15% stake in uber. when softbank bought the stake, they put a caveat that uber has to go public by december 30th, 2019. the company is still valued at $76 billion. they have announced they will be investing a lot more in fre