not for credit suisse.s city points out, revenues and equities only rose in 8% versus 21% for some of its u.s. peers. i spoke to brady dugan of credit suisse this morning. here is how he felt about the performance in the third quarter. overall, it was, i think, a solid performance. somewhat has been a more challenging quarter for the whole industry. private banking wealth management was a good result. around 840 million of pretax. certainly the investment bank was impactsed by the fixed income conditions during the quarter. actually, our equities in investment banking businesses performed quite well and actually our credit business was quite good. but certainly, i think the overall environment in the third quarter, it did impact the fixed income business which impacted the overall results. >> this morning, you announced that you're streamlining your rates business. i wonder, it's been underperforming in the last couple of quarters. why always make that announcement now? and what is it going to mean in terms

you get this report from credit -- credit suisse saying the u.s.ou have all of this crazy like to minutes of enceinte trading until this morning. then it was halted for a few seconds. what happened. >> had to second call on gold, this massive sell order that came in. some people blame that article. now, a couple of years ago this kind of article would have been a black alike doctor. seriously, the u.s., you know, that is about as likely. but if you look in some of the biggest down movements that we have seen since we have this major correction, a is always surrounded by a story about a central bank's summer selling gold. remember at the peak when gold started to drop off dramatically , it was because of cyprus. there were rumors that cypress commit to meet their deficits, to stay in the eu was going to have to sell theer gold reserves this is putting pressure on governments that have been printing money by buying gold and records about -- record amounts last two years to use the gold reserves to meet the deficits. and up think this is going to happ

yesterday one of the big movers on the open was cut to the outperform of credit suisse.a do you like or dislike? >> there are several companies moving very fast. potentially on mobiles and bearing chips. the results last week were pretty good. most decisions were robust. you can see particularly in forth america, it's hugely underpenetrated by technology. more and more people now are buying their coffee with a swipe technology and you see the mobile technology and the swiping. which is very strong. as long as they are quick enough with technology, it should be a good return. >> it's a market strong strategy. >> so we're seeing decent performance so far this year. 16%. but i think there's more in it? >> i do. the numbers came through quite well. they had guided. they've beaten that. >> okay. let's move on to checkpoint in the states. this is a cyber security firm which typically has business generated more to financial corporations. but their packages are very wholistic. they can do everything pretty well. here is a company that's been progressing very well. their numbers

hundred ten people in twenty five percent of all the private wealth in russia that's according to credit suisse it is the latest global wealth of. russia's are also has found a two hundred thirty five carat mega diamond worth an estimated two million dollars . now i know exactly what i want to christmas. so now let's check in at the business desk and speak to a fair and thomas he was poorly last week but you're now back all you back with a vengeance i certainly am and i have to thank you that care package that you sent my way certainly did the trick and there was a very sweet messages from people on you tube giving me advice on how to get better took that as well so i'm back and i'm really doing well on this whole stock thing i think i've gotten the hang of it check this out you know i have been doing financials yes russia's biggest banks per bank they've been on a roll lately and for the second week in a role my. portfolio has risen three percent so i made two hundred ninety seven dollars drum roll please i am now at nine thousand eight hundred ninety dollars only one hundred ten dollars shy o

thats according to credit suisse. it breaks down to a combined worth of 420 billion dollars --marking one of the largest levels of weath inequality in the world. the ap reports the fall of communism led to the distribution of wealth among a small club of business leaders. in the u.s. americans are likely to spend more money on heating bills this winter. we turned to trader john caruso of rjo futures. "well ya, absolutely, the fourth quarter demand obviously we do see that pick up for the heating oil contract. yesterdays trade on wednesday we were met with actually a larger dercline on inventories for heating oil." the government predicts natural gas users will see the biggest bump up. heating their homes will cost roughly $670 on average. 13% higher tha last winter. it could be a turning point for sac capital. reports in the new york times say the hedge fund is considering entering a plea deal in its insider trading case. federal prosectors would ask sac to plead guilty and pay 2 billion dollars in fines. the hedge fu

. >> credit suisse put out a report. all of those names were up about 16% from where they made the call. they didn't buy it all the way back. they bought it half way back from that dip. >> so you're not concerned about price line. you're not concerned about google or tesla? >> he wants to show us his candle. it's a specific bearish technical signal. >> let's talk about japanese candle stick charting. something major happened. i think every momentum trader in the country is focused on. this doesn't go back very far. this price action today is a bearish engulfing candle. and the reason why that's important is this is a stock that traded 8 times its normal daily average. if you're a short term trader you go short netflix, what you probably used is your reference point or your stop loss was yesterday's high right here. same thing on the downside. longs come in. they are using yesterday's low. boom they're gone. now you have a selling frenzy. when you see a candle of this nature typically what follows is a change in trend. it

and credit suisse opening massive branches in u.s. cities such as new york in the middle of manhattan there was a complete city block effectively devoted to u.b.s. this private banking division it was ludicrous to think that in some way shape or form sooner or later the i.r.s. the american tax authority wasn't going to get interested in what was happening in that particular building and there have of course been scandals people smuggling rather james bond style diamonds in toothpaste has been brought by private bankers from switzerland to the likes of the united states of america forgive me for interrupting you will certainly interesting background gave us to the banks in switzerland and they are secrecy but you know what does this move actually mean i mean is it really dictated by the reality which one has to adjust what's happening elsewhere and the pressure from other countries i mean what does it stand to gain or lose for that matter. well switzerland essentially stands to lose a great deal because of course it has a massive banki

what hit the homebuilders was survey from credit suisse pertaining to the fact there wasn't as much inventorye seeing overall with the buyers. being not as interested because they didn't necessarily like the high prices. >> jcpenney, nicole what a week for this company. they fell below eight bucks a share. first time in 30 years. barclays downgraded them earlier this week. they have a lawsuit now. they can not catch a >> you still have people interested like forking soros,. david: tesla we got word after downgrade and you had the video come out. total damage was 10%. they worked back about 4.5%. why do investors look more kindly on it today? >> it is interesting. tesla is a hot, hot stock people live for the long-term. they will knot let one little car fire get in the way. i say tongue and cheek. it was dramatic. nobody wants to see it. not if you're a shareholder or a driver or a tesla employee. they made it through for this one now. the stock is a great performer this year. cheryl: nicole, certainly a great day for potbelly. that stock more than doubling in their initial public offering tod

sources say the justice department is looking at weather the bank and credit suisse is guilty ofment conduct. j.p. morgan chase and bank of mechanic face similar inquiries. difficult to get your hands on a popular painkiller with the highly addicted chemical be reclassified as schedule two drugs limiting who can write prescriptions. >> why you had under do what you can do boost your score, drivers with poor credit pay almost twice as were for car insurance than those with excellent credit. get ready for ads on instagram, "new york times" reports the service will put ads in the image streams next week. macy's and lexus are evening my the first instagram advertise others. >> and a look at the forecast. >> a lot of fog in the north bay. that is it. that is where it is con fined. we have the area of low pressure all week and now getting close enough to our coast and it is affecting the weather. it disrupts the marine layer from developing and this is radiational fog. santa rosa is a mile. napa is three miles. novato and half moon bay are at eight and everyone else is at ten which means u

they hadn't and certainly nothing from chris credit suisse. >> and its regulators move in goal posts. continuously, we've seen it for the last -- the past year. we've seen it in the uk. we've seen it internationally with regulators requiring more capital and this goes on to explain that story further. it's a concern for investors. >> and we heard from lloyd's today in the uk, as well. it's another 750 million pounds. there's a cost on that and now i think we're up to 8 billion. >> yeah, it seems to be haunting lloyd's down. it's a concern. it's further provision. we kind of assumed that the first half results that there wouldn't be another provision taken. and here we are again. so both rbs and lloyd's trading down. we assume a provision of rbs on this announcement. if you look at the amount of provisions coming through for lloyd's, this is a high number, again. so, you know, very disappointing. >> all right. stay there and we'll come back to you. there's one stock today that's doing fairly well. it's bp, reported forecasts beating earnings of $3.7 billion to the third quarter and it'

credit suisse. >> thanks, karen, for that. let's get back to david kelly, chief strategist at jp morgan. kevin wrote in and said i appreciate david's outlook on commodities, both hard and soft. >> overall we're relatively positive on commodities. i think in the world where you're looking for assets that are going to provide income in return, a lot of fixed income is locked out in terms of the long term returns, i think you have to have commodities in the portfolio. i'd keep precious metals apart from the rest. precious metals are not reacting the way they used to as a volatility hedge. i regard them as more risky and less connected with the global economy. the rest of it, industrial metals, will do well. the one thing that's really great is that they're a wonderful inflation edge. if you take gold out of it, it's a huge protection. i think in the long run we're going to deal with inflation. >> these companies have traded at a discount to the underlying commodities. is it the commodities or the conditions that mine these things

in the meantime, credit suisse actually didn't help this story because they actually put the price target now to $61. so we're watching that. when they raise the price target, really they still remain with a neutral rating, so there's certainly not this buy 'em up or move into $70 routine. we're starting to hear some worry and some concern about what we may or may not hear from facebook. we'll know the full story when they actually do report on wednesday. back to you. liz: a lot of good names reporting. among them, apple. apple reports results after the bell along with herbalife, a juicy stock, considering carl icahn was just with charlie gasparino. he's going to come down and talk about that conversation with the billionaire financier, but apple boasting two new iphones instead of one. what should we expect from the tech giant? one bull out there has high hopes for the company. he is gene munster, piper jaffray managing director, senior research analyst. he always has do word on apple. first off, are you expecting to see a meet, a beat or a diss? >> well, for september as you kind of pre

but, you know, citi is out with a $30 target, credit suisse out with a $20 target. but analysts have it rated as a hold or lower. so it's just some caution into the print. we know expectations have come up. they have to put up a good quarter. but i think they're going to. >> all right. realtime action from mike murphy. >> good luck, murph. >> thank you. the stock is up 90%. >>> let's switch gears and talk about the consumer. one of the key questions as the market moves forward. holidays not that far away. shoppers continuing to show caution according to same-store data. steve is a portfolio manager at durbin capital, invests exclusively in retail. welcome. nice to talk to you. >> same here. >> so how should we view retail as we sit here? >> i would be cautious about the retail sector going into the holiday season. back-to-school season was disappointing. while the consumer is fairly resilient, the consumer spending bulk of their dollars on internet, mobile devices, cars, houses, not buying apparel. >> steve weiss and i have talked almost every day about how retail s

also add credit suisse's u.s.hey continue to deliver good test results for their new rheumatoid arthritis drug. >> and also on the move today. >> this stock has been yeah, unbelievable. >> ten-year chart is like the roller coaster at six flags. it was upgraded to a buy. increased their target from 10 to 3 because they have hired jpmorgan to explore a sale of the company. sell at roth capital. one drug has been hot and then not. look at that stock chart. 60 bucks to a couple bucks. stay away from den dre yon. may sell but be careful. >> today's under the radar stock which is clovish oncology. which is moving positive. >> it's been a super hot stock. try to bring you new names, down today but they've got positive trials. they basically focus on sort of smaller areas of cancer and small cell lung cancer treatments here in the positive drug trial results, 8 to 9 patients experienced tumor shrinkage, up about 240% year to date, down today but overall has been a very, very solid year for clovis oncologist, boulder, colo

credit suisse this month raised the price target on them citing specifically a survey that says thatnt interest on the part of patients as well as physicians in the hemo feel ya drug. the ms drug is another one it's an oral drug for ms. >> just gotten eu approval. deutsch bank had positive comments this past week about what that means for the company. biogen about drugs in the future pipeline and this could be a big one. >> the thing to keep in mind with biogen and other ones these are monster performers for the year. biogen up 70% and that's leading the ivb the index that tracks bioteches. that's up 53%. whenever you see the markets fluctuate up or down, biogen and bioteches tend to exaggerate those moves. more sharply up or more sharply down. that is a danger with these. apple, can't forget about that one. earnings after the bell on monday. >> i mean with apple you can talk about the headline earnings and sales numbers all you want but this is a company that traditionally beats earnings and sales. last few quarters a little iffy. forget about that, beyond those headlines typically

deutsch bank, jpmorgan and credit suisse on board to start. at least one will be triple a rated.re not relying on the ratings. geb, they want to know all the details surrounding these properties. so far we don't know where the properties are located. but investors have bought mostly in southern california, arizona, nevada, and more recently in arizona. there's been a lot of controversial around the rental play. reo to rent when investors were putting so much money into the foreclosed homes and rehabbing them as home prices go up the market is really getting, you know, more difficult to play and obviously they're looking to get more cash from wall street to put into the market. so this is going to be interesting to watch going forward. more on-line, of course. realtycheck.cnbc.com. >> thank you so much. appreciate it. >>> we told you nq mobile has been halted all day. we have an indication that they will open between 8.5 and 9.5 on that stock. still waiting for the open, though. amazon shares soaring on the back of its latest earnings. microsoft on the rise as well. it's new econo

treatment in particular for cancer that has been billing welcome and you have both morgan stanley and credit suisse. that was the highest level. added to the u.s. focus list. uploaded to and overweight. stuart: september pending home sales numbers came in, a drop of over 5%. that to my belief, but the level of spending home sales below the year ago level, the first time we have seen that in two and a half years which implies real weakness in the housing market and that janet will keep on printing more money. >> and the comparison will be tough. relatively negative news on housing in the economy, and the dow is down. >> no choice. stuart: let's get to obamacare. we keep calling it a train wreck. a very troubling statistics. first of all, just look at kentucky, the state that was most successful in signing people up for obamacare. 26,000 people signed up. however, the key number is 21,000 because about 26,000, it was 21,000 that signed up for medicaid. that would be free health care, free insurance. but that is a disaster. if you don't have young, healthy people putting their money and the whole thin

and so with that we're seeing credit suisse upgrading them, jpmorgan as well, that's why everybody'sance. you guys got to see the big bristol-myers, i was looking at the maul one, hence the confusion. dennis: thanks very much, nicole. cheryl: a 6% year over year pop in revenue for the third quarter for choice hotels, ceo and president, steve joyce. you know, steve, even though earners per share were slightly lower than last year, franchising activity really boosted revenues for you. so franchise sees still want to operate out of a hotel. >> yeah. and they're getting more optimistic for the next several years, so our development was up 45% quarter to quarter. so that just represents their confidence about moving forward, investing in hotels, building new ones. our comfort brand, which we're redoing, that -- those development efforts have more than doubled over the last year. cheryl: comfort brand is one of the stronger brands for you. you're trying to go into the luxury segment, but comfort is really showing strength. >> yeah. it's a brand of 2000 hotels. we're doing a remake, which i

as opposed to a credit suisse.hink that discretion will close over time as the european economy starts to pick up. >> does that make sense to you, mark? >> i am a bit more bullish coming from the emergeing markets. i have no position on the thoughts that have been described here. but with the growth in africa or the growth in asia the growth in latin america and the growth world population from 7 billion to 9 billion which continues to pay, i think the growth in gdp per capita and the growth in populations will meet the fmcg businesses can be very attractive. but they'll be differentiated by strategy. someone in alcoholic beverages and they do better in recession can be very different from someone in organic foods which would be less attractive. so i would look at the company, the sector the strategy and the usual factors. >> the interesting thing is they have spent the last couple of quarters. asian growth hasn't been quite what we expected right? and actually they've been damaged by that because you had some grow

credit suisse, morgan stanley, and jpmorgan all giving positive commentary on bristol-myers specificallyterating its overweight and morgan stanley also with an upgrade there. back to you. lori: thank you, nicole. adam: more investors are fleeing funds with exposure to puerto rican debt. oppenheimer funds which manages 12 of the top 14 fund with exposure to the commonwealth has suffered the largest outflows in the industry since mid september. that is according to lipper data. this comes as investors continue to shy away from port rekos' debt after yields surged as high as 17% earlier this month. oppenheimer fund president and ceo, art steimetz joined me friday for exclusive interview where he says he still sees upside. >> we see opportunities there. adam: the sec is investigating mutual funds with exposure to puerto rican debt including oppenheimer fund. >>> headed toward financial disaster and taking taxpayers along for the ride. lori: that is how financial services chairman committee jeb hensarling talking about the billion dollar fha bailout. he wants washington to stop writing blank

jpmorgan, credit suisse and deutsche bank will market the deals.here the homes are located. we know that most investment in single-family rentals has happened in southern california, arizona, and nevada. now, sources say that at least one of the tranches in this deal with be aaa rated, but investors say they won't be looking at the ratings so much. they'll be doing their own homework on this one, because no one wants to get burned the way they did in the subprime mortgage crisis. kelly? >> right, diana, that's why people are saying, shouldn't we be worried this is the bubble playing out all over again? >> well, look, the devil is going to be in the details here. we'll be looking at where the homes are, what kinds of markets they're in, do the markets have the possibility for appreciat n appreciation? where are the rental streams coming from? what are the jobs in the markets? there are so many questions going into this. again, a lot of people will be looking if they'll be slice-and-diced, whole pools, so much more to come. >> all right. diana, thank

howard chen, a top chair analyst from credit suisse with his insight into the health of the financiallations on this win. before we get into financials because we were all debating this in the 6:00 hour. when you get selected like this -- >> sure. >> it's not solely -- part of it is the picks, stock picks. >> is it? >> part of it is service to the client, what people think of you, how you work with them. how does this all happen? >> well, first, thanks so much for having me on. good morning, everybody. so, i think, on this and the broader ranking, i think it's as you said, andrew, we try to service our clients. a lot of that is stock picks, fundamental -- >> no one looks at your records for buys and sells -- >> sure they do. >> i'm a big yankees fan, joe. and paul o'neil -- >> he was a red, my friend. >> only guy who thought he could bat. i try to do a little bit of everything. >> you stole him and a lot of other reds. i still haven't forgiven you. >> let's talk about some stocks. goldman sachs, morgan stanley coming out with earnings next week. what do you think? >> well, we reduced

. >> over today credit suisse. pfizer a buy. >> pfizer works here.to do this gigantic headquarters in new jersey where i live. merck is scrapping a lot of plans in order to save money. that's not how i want my quarter made. i understand the merck hold call. they announced layoffs and people are starting to realize, what were they doing building all those buildings in summit. do they have a clue? i'm not sure they have a clue. i'm not sure that merck knows where its future is and that is worrisome. >> jcpenney is up 4%, the biggest gainer on the s&p. we had a discussion on the commercial break about what this addition to the board, sachs chairman steve sadoff means. >> he is a numbers guy. he's originally from bristol myers but i do think what you need is both a merchandise guy and a numbers guy. so he brings in say some of that sachs team. people feel sachs is out of touch. they have all fifth. they did a very good job with that. he did a very good job pruning bad stores. of course eddie lambert about sears, good scores. >> david down in larue, texas

credit suisse says it's 5% down from last year. let me ask you about carnival.ubles. the vacation guarantee which they put in the market place, which means if you're on a carnival cruise and you're there for 24 hours and you want to get off, they give you a 110 refund and they give you a credit. how do you respond in the marketplace to that? >> royal caribbean did not have any specific response to that initiative. on a broader level, the industry wants to communicate how safe this industry has always been, that customer satisfaction is at unprecedented levels with the addition of different ships and it's really important after the last couple of years of challenge beings that we and the other cruise companies promote a positive message about the benefits of cruising. >> i didn't realize you weren't in the s&p 500, adam, though the commentary at the moment is with your present market cap that, could happen. are you making any moves to pressure for that? obviously if you could get out of the russell into the s&p 500, or both, that would be an advantage for you. >>

. >> credit suisse on micron up today. >> this stock can go higher. >> finally, lilly challenging ton, big farma, yesterday was a very bad day for summit because merck, big layoff. these companies just don't have growth. >> interesting the dichotomy between big pharma. >> raising numbers celgene, cutting numbers, merck. >> what's up with dominion? >> i think they're the most forward thinking and tremendous wealth for their shareholders. >> it's been a challenging week. it's been wonderful to have you here. the weekend is not too far away. >> i know, i'm very excited about that. >> when we come back, economic data that is not being shown because of the shutdown. we'll get ism services and market reaction in just a moment. and everything that goes along with it. [ thunder crashes, tires squeal ] ♪ ♪ so, what do you say? thanks... but i think i got this. ♪ [ male announcer ] the all-new cla. starting at $29,900. help the gulf when we made recover and learn the gulf, bp from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything

. >> credit suisse saying we have real problems here. >> dress barn had a very good quarter. it can go higher. >> citi goes buy to sony. >> they're saying hardware sales are weak. doesn't jive with best buys. >> couple things with netflix. the price target gets carted out by needham. dreamworks calling it the patron saints. >> one of the most exciting areas of the market are 3d printing. >> and decker is going to miss. >> this is a weakness in uggs. they report the last week of october. be careful. >> tonight what else do you have. >> i'm doings survival guide. i don't like to reveal which -- there's two. it's a fire and coal coalition i'm revealing tonight. >> this looks good, too. >> and the giants i'm revealing, a whole new offense and defense. >> i like the "new york post" headline, just one, baby, meaning just one win. i'll see you tonight. >> thank you, carl. >> when we come back, former representative ron paul. got a rally here on wall street with the dow, up 183. make that 184. back in a minute. clients are always learning more to make their money do more. (ann) to he