david faber joins us again, david. >> twice in one morning.chulz, former founder and chairman of best buy made an offer to acquire the company between $24 and $26 a share in cash. now it is an offer with a lot of, well, you can see what's going on there but he has a highly confident letter from credit suisse to provide debt financing. he will roll about $1 billion of stock, he owns roughly 20% of this company into this potential offer. it's kind of a complicated offer that he needed to make and andrew may be more familiar with minnesota takeover law but four-year holding periods for significant owners and needs the permission of the board to both conduct diligence, but also to form a group, and so needed to come public with this offer in this timely manner, and then perhaps once he gets that permission if he does from the board will be able to tell us who those conceivable investors are. best buy a company in some distre distress, many would say and this is quite a large deal, regardless of whether he rolls in $1 billion of his equity stake in

david faber, back over to you. >> thanks very much, jackie.ps missed on the top line this morning, a bit lower than might have been anticipated. >>> we're going to sort through those results to get a read on what walmart's numbers were saying. that's next. >>> 9 retailer missing expectations, but increasing the full-year guidance. is walmart still one of the best defensive plays in this market? good morning, chris. they put up a 22.3% comp in the u.s., it was lower than the bar of three. the bar is a bit higher, but the important point here is july was the best month of the quarter, it talked about that in the release. june's we know its retail has saw the swoon across the board, this is the first back-to-school season where they have a new apparel merchant, so we think we're running at the high end of q3 guidance with a strong apparel set. >> what is going on? do you think it will decline from here? >> i don't. two things. number one or price targets are estimates and they beat us and guided up. so estimates are going higher. if you look back

david faber had the news a few moms ago.aises a whole host of questions about what needs to happen at this company, whether or not public ownership is reasonable for these big box retailers right now. >> if it's real, it's a significant premium for a company that has no shortage of challenges. the question of course is how real is it? let's go through where we are on that because that's the important part. we have been hearing that mr. schulze has been considering a bid or a sale of his ownership stake. owns exactly 20.1% of the equity of this company. roughly a billion dollars worth of stock. he would roll that into this bid. he's also looking and this is my own reporting to raise as much as $7 billion in debt financing. credit suisse has given him a highly confident letter and said it can raise that 7 billion and would need an addition aal $2 billion in equity. he's saying he's not reached any agreements. he cannot name them or at least divulge his so-called group because of the workings of minnesota takeover law it goes b

>> i feel like i have to call david faber. you need to know it can cap the upside. that's all uh you need to know. if malone, liberty gets it, your upside is cap. no one wants to hear it. when i go on jim cramer on twitter people want me to say sirius is going to four dollars. malone will get it at a price that's lower if it can't be stopped by the government. i don't want it capped. there are those who want to shoot me because i say it could be capped. i don't want it capped. matthew in new york, please. >> caller: jim, how are you? i'm a fan of the show. appreciate you having me on it. >> thank you very much. >> caller: my question is on cme group. the stock has been stuck in limbo for a year. low 50s. i want to know if the announcement to open a new derivative exchange in the uk will lift the stock to triple digit numbers as analysts are projecting and should i go long? >> i don't think it will lift it. that whole industry is challenged in what i call secular decline. they're not going to let people make much money in exchanges anymore. they can do expansion but

as i always say to my friend david faber on "squawk on the street" it's still too early after tonight'sgroupon. where she stops, nobody knows.

as i always say to my friend david faber on "squawk on the street" it's too early after tonight's quarter to buy groupon. where she stops, nobody knows. but stocks do not go through certain key levels, like zero. there's always a bull market somewhere and i promise to find it for you right here at "mad money." i'm jim cramer. see you tomorrow. hey, larry. welcome back. what do you have for us? >> thanks, buddy. could romney veep paul ryan be the key to the election. i'm larry kudlow. this is "the kudlow report," back from the olympics and raring to go. our top story, republican vice presidential candidate paul ryan makes his first solo campaign stop at the uh iowa fairgrounds. you, the kudlow viewer, now paul ryan well through our many interviews. i have known the congressman for over 20 years. he'll tell us why this country is on the wrong road and president obama is to blame. also joining me tonight for a first on cnbc interview, former minnesota senator tim pawlenty, cochair for the romney campaign and the dow drops. the s&p takes its first hit in seven days. we ask why is there a surp

as i always say to my friend david faber on "squawk on the street" it's too early after tonight's quarter where she stops, nobody knows. but stocks do not go through certain key levels, like zero.

david faber talking about that liberty media, how much money they're making. i like cable. i'm not going to put out any particular recommendation, cable vision, i work for comcast. but boy, cable is really strong, better than dish. jason in massachusetts, jason? >> caller: jim. everybody who reads "the economist" knows russia is joining the world trade organization this month and a dramatic increase in foreign direct investment may result. the ruble's 17% lower the past year, exporting businesses could do well, unemployment at 5.4%. however, any non-small cap russian etf is composed of over 40% energy stocks. so if the index is not a preferred play on national captain inflows what would be? >> i mean, look. first, let me say, if you're going to lock up like a punk rock band, i don't know. count me out. that seems like a -- if that's the global enemy, i think it's wrong. pepsi's got the best exposure to russia. madonna's there protesting. i don't want to invest in russia, but i will invest in pepsi. >>> as the brilliant women's beach volleyball teams have taught us, it is br

i was talking with david faber during the break.were talking about how the stock horizontal now doubled. now the analysts -- they're waking up to it. i guess when it triple, we're going to start seeing some real buy interest. >> talking specifically about merrill lynch. >> yeah. merrill lynch is getting on board. it's a little late. but, remember, $5 is the level where institution -- they don't like to be able to buy under $5. the stock goes higher. >> disney earnings last week. now citi's got some advice for them. >> citi did a little bit of navel gazing. they said disney should buy scripps to get that older women demographic -- whatever. i think disney should stick to its knitting. this kind of rumor mongering leaves me cold. >> we talked about groupon tonight. you want to do that quickly. >> here's my problem with groupon. i keep reading about the turmoiled groupon, the turmoiled zynga. when i read turmoil, it does not make me feel like that you should go buy the stock up. pandora today, not a lot of turmoil there, but downgraded

i'm melissa lee alongside david faber and mr. simon hobbs. carl quintanilla and jim cramer are both off today. the dow is starting the session 29 points away from a 4 1/2-year closing high. the s&p about four points away from a four-year high. we look like we'll open to the downside on both the dow and the s&p. as for the picture in europe, some positive signs there, sending stocks to near 13-year highs. we have a mixed bag right now. the roadmap starts off with the facebook fallout. shares hitting a new low after the first lock-up expired. who's telling how much more downside for the stock when the massive lock-ups come later this year. >> a new milestone for apple shares, closing at a new all-time high as jeffries raises its price target to a whopping $900 a share. we'll talk to the analyst behind that call. >> and the turnaround at the gap continues. the retailer boasting a beat on earnings and raising its guidance. gap shares trading higher premarket. a phenomenal performance for that stock over the last year. >> and then as we mentioned,

i'm carl quintanilla, david faber, all here this morning.erate weakness setting in after four days of slowly grinding higher in what some are calling the most hated rally of the year so far. europe's also flattening out today. the euro back below 1.23. >> today's road map starts off with cisco, upgraded by not one but two firms saying the fundamentals are trending positive. >> cpi up one-eighth. the slowest in two years. does china have more room to cut? shanghai at a three-week high. >> zinga's chief operating officer is out. can any management shake-up actually keep the company's products from just being a fad. >> and marissa meyer putting her stamp on yahoo!. we look at some of the companies she's reportedly expressed interest in big. >> we have to kick off with cisco. the shares are up by 3% in p premarket trading. it was added to the conviction buy list by goldman sachs. specifically they mentioned channel checks, i.t. survey and they say that north american enterprises is much better than had been expected. >> looks like the tellcos, a

melissa lee, jim cramer, david faber. good morning to you. take a look at futures. we continue to wrestle with some critical levels here. s&p around 1500. the nasdaq is at 3,000. joe, of course, mentioned the some of the pressure that we may get from mcdonald's on the dow. europe a little bit more pressure, after a few good days. stemming from a bit of negative outlook on the s&p based on greece. >> this road map this morning takes us back to cramer's market. >> plenty of macro worries. priceline said that europe is weak and is going to get worst. >> big day here for retail results. ralph lauren's forecast is more consecutive. >> and starbucks switching its credit card payment to square. >>> as we mentioned, futures are signalling right now a lower open. paring a three-day rally on wall street. the s&p trading close to postfinancial crisis highs. s&p closed above 1400. jim, we have been talking to so many strategists, these are great things, we're climbing the proverbial wall of worry. that bodes well for us. who cares about europe? >> one of the funny things about

the previous ceo is trying to make that move of david faber there. i would say, good call.look like there's a firm footing on schultz's move. >> lowe's is down more than 4% this hour. groupon, by the way, $4.50 is that low. it's down 4% on shares, again, that a report was not just andreesen selling but a number of early investors saying, you know what -- >> i think copy needs to improve. >> you don't want to go to that portuguese restaurant between 1:00 and 1:30 on saturday afternoon? >> no. it's a better place to go than the black hole of calcuta, kind of an analogy. >> aetna shares, by the way, let's take a look at that ahead of our conversation with mark bertolini. a lot of the shares have been strategically done in this marketplace sending the enquirer higher. >> it's been helping their stock because people like to see growth. this is a remarkable thing because if you remember wellpoint got clobbered when they did the deal. they got clobbered. >> maybe that would -- what was the timinging of tha of that? was that before the roberts' thing? i like your point. this is a b

with melissa lee, david faber at the nyse. stocks at some three-month highs this morning and whos for more fed action possibly feeding that today. seven points to the upside. as for europe, they're up for three straight days despite less than stellar data. >> so, our road back this morning begins in boston where eric rosenberg is calling for open ended easing. >> standard charter stock down 20% after new york state accuses it of illegally doing business with iran. >> amazon declares war on zynga, but is the retailer spreading itself too thin? >> and youtube will no longer come standard on your iphone. what's the the trade now from apple as it flirts once again with some all time high sns. >> let's get to eric and the the federal reserve of boston saying the fed needs to take action to ignite economic growth. let's bring in cnbc's senior correspondent, steve liesman with more coming off of an interview with eric. >> i think there's three things eric has decided. first is that as you said, the second half of the year, this is no

i'm carl quintanilla along with melissa lee, jim cramer, david faber. retail sales, the largest jump since february in about five months. with that a little nice pop on the futures there. as for europe, some pretty decent gdp in your opinions out -- numbers out of france, out of germany. >> our road map this morning starts with the power of home depot raising its forecast and posting positive numbers on everything from comps to average tickets. should your portfolio be wearing orange today? >> a slew of others. michael kors with a blowout quarter. where is the american consumer's head right now? >> groupon getting crushed. down about 20% after the core daily deals business is slowing dramatically. >>> we'll start with earnings from dow component home depot. t home depot raising full year earning's guidance to 2.95. three cents above consensus estimates. previously they were at 2.90. people talking about consumers maybe not buying expensive stuff like cabinets. average transaction going up. >> this company has been on fire since blake took over. i got to

david faber is off today. moderate weakness, of course, after a rough few days. got some durable numbers not too long ago. not bad. the lower, once you start to strip out the ex-transports, we watch a meeting coming out between merkel. dan greenhouse with btig and cnbc contributor. a lot to get with with dan. >> absolutely. let's get to our road maps this morning. the markets reversal after four straight days down after highs earlier this week and now chatter about september. trying to batten down the hatches? >> and are the federal officials having any impact on what ben bernanke is going to say in jake s jackson hole next week? >> and you know who owns a lot of facebook? morgan stanley. first, the dow and s&p coming off the worst numbers in a week. all three indices are still in positive territory with the dow clinging to some gains. but will september give the bulls something to threat about? we know september's seasonally week. there will be a lot more speculation about jackson hole. is there a good reason to get long into the weekend? >> our working assumpti

david faber is off today.isappointment is the name of the game this morning when it comes to the futures markets as well as what's going on in europe, of course the ecb meeting. we had a down nurn the u.s. futures, losing about 85 at the open, the s&p 500 looking to lose 11 1/2. dramatic swings in the european markets this morning. the german diamondbacks doax do percentage points. we are half an hour into the press conference. mario draghi says the euro irreversible and that government should be ready to activate the esff. we'll have the latest. knight capital shares continue their free-fall this morning, the company saying the erroneous trade positions resulted in a loss and that its capital base has been severely impacted. retailers on the move this morning, costco beating estimates. steve liesman has the latest on the news conference. steve. >> melissa, thanks very much. there's some interesting contradiction in what i'm hearing draghi say. on the one hand he began strongly saying they'll do whatever it ta

melissa lee, jim cramer, david faber are off this week. latest s&p case-shiller home price index just released. results at the bottom of your screen. 1.2% year over year in the second quarter for the second consecutive month all 20 cities in both composites had monthly positive gains. we'll talk to david blitzer from s&p in a few moments to break down those numbers. in the meantime take a look at futures. lot going on for week before labor day. moderate weakness. talk about what's leading to that. europe as well some surprising headlines. decent auctions out of italy and spain. some surprising news as well from mario draghi in just a moment. our road map starts off on off the gulf coast where tropical storm isaac has almost reached hurricane status and is expected to make landfall today or tomorrow. the question is where exactly. what's next for gas prices with nearly all oil production in the gulf halted? >>> mario draghi canceling on jackson hole citing a heavy workload over the next couple daus. what that means for the fed conference an