let's go to dom chued a headquarters. >> from burritos. johnson & johnson board of directors authorized a $5 billion share per purchase program. the company said there were purchases made at management's discretion from time to time on the open market. the repurchase program has no time limit and may be suspended for periods or discontinued at any time anyways that the headline here is you have another big company, this time johnson & johnson, a dow component, saying they will put in place a $5 million share program. back over to you. >> thanks, dom chu, tim seymour, a reason to be excited? >> i think so. it's an impeccable balance sheet. i think the dollar strength. a year ago, people were worried about multi-nationals and dollar weakness so in other words repatriateing those numbers back will actually be a tail wind for these guys. these to me is one of the great multi-national stories. >> let's go to netflix t. conference call is under way, michael past over has an under rating on the stock it's good to have you with us. you expected be

dom chu, what are you watching?sh, well, apple is just one of 120 other some stocks in the s&p 500 tech sector trading as highs even higher than the dot-com bubble. we'll have other names and notable earnings just after the break. keep it right here on "power lunch." [bell rings] ♪ time and sales data. split-second stats. ♪ its so close to the options floor, you'll bust your brain-box. all on thinkorswim, from td ameritrade. >>> apple shares have been popular. the tech giant is set to report the results, which is traditional the weakest quarter of the year. will that trend continue or not? . josh lipton is at cupertino, california. hi, josh. >> reporter: hi, sue. today after the bell, investors will have a better sense of how apple is performing. the streets want tows a buck 23. that would mean year-over-year growth of about 8%. one question, the consumers put off buying an iphone, because they're waiting for the new device. switching to you i up and down, the striae themes -- business and education, two key markets

dom chu on where the trading action will be. >> sure, simon. let's look at the five worst performing stocks on the s&p 500 so far this year, and you can see that all are from the consumer discretionary space -- coach, whole foods, staples, bed bath and beyond, tractor supply. while experts say each name is dealing with company-specific challenges, analysts i spoke to say the underperformance highlights the broader concerns around the state of the consumer. whether these stocks can rebound says it comes down to marketing and investments to get traffic back in stores. also the new merchandise that comes out in december could also spurs, but she's staying cautious. whole foods, disappointing earnings resulted in shares getting hit, but some experts say the stock is oversold. staples, bed, band and beyond bo negatively impacted. the retailers need to focus on strength in this the online platform, but overall, it's just interesting to see we're in the second half of the year. analysts still talking about a weather as a focal point. >> as it turns ou

banks to report saying second quarter profit in line with estimates, revenues above consensus, and dom chu earnings. hey, dom. >> that's right, carl. headlines first. the stock down about a percent in trading so far, hovering at the lows. there was reports of 1.01, in line with estimates, revenues at 2 1.1 billion, slightly ahead of what wall street expected. the interesting part about loan originations, 37 47 billion worth this quarter, 11 billion better than the last quarter, but at the same time last year, that loan number was 112 billion, significantly lower, refinancing boom pretty much took a little bit of a backseat in the current rate environment. wells fargo makes one out of every six home loans in america, a huge len dor. the profit margin the bank makes on lending, 3.15 percent, and profit mar gyp is compressing. wells fargo sees the economic recovery as uneven, but sees many indicators of growing parts of the economy. the housing recovery remains on track. the conference call started 20 minutes ago. in that conference call so far, they talked about the idea that loan growth is

dom chu looking the fee-based companies and whether they are actually a good investment. you know, tyler, it's not hard to find people complaining about fees when it comes to flying and they have got a new one to complain about. starting today, the tsa is raising the security fee for your tickets. it's going up from $2.50 per flight up to $5.60 per flight and then there's no cap on. this it used to be you wouldn't pay more than $10. well, now depending on how many legs you're flying there is no cap there the higher fees are expected to raise an additional $16.9 billion for the it sa, which, by the way i was not raising enough money to cover security fees in the past, but this is going well beyond what they need. and the airlines for america, the lobbying group for the airline industry, they're not happy about this because they're of the belief that ultimately, this is gonna force people to make a choice about whether or not they want to fly. base fares between 2000 and 2013 dropped 8%, look at that, taxes including tsa security fee, up 49%. now the higher tsa fee could hu

>>> and dom chu, our sideline reporter, he's monitoring all of your tweets. i bet just a few came in about that debate between rick and steve. tweet us using th the #halftimereport and the domino will read them on the air. that and much more straight ahead. just take a closer look. it works how you want to work. with a fidelity investment professional... or managing your investments on your own. helping you find new ways to plan for retirement. and save on taxes where you can. so you can invest in the life that you want today. tap into the full power of your fidelity greenline. call or come in today for a free one-on-one review. [ radio chatter ] ♪ [ male announcer ] andrew. rita. sandy. ♪ meet chris jackie joe. minor damage, or major disaster, when you need us most, we're there. state farm. we're a force of nature, too. ♪ ♪ thoughts arrive like butterflies ♪ ♪ we don't know >>> all right, welcome back. one of the biggest apple bulls on wall street is back on board. barclays had a buy rating for ten years on that stock. the analyst, though, downgraded it to n

dom any chu actually explains. >> tax inversions, simply put, a strategy that can be used to help shrink tax bills. you move your headquarters from the u.s. to another country with a lower tax rates. right now the tax on those profits is 35%. a tax inversion could drop that bill to zero in some cases. for example, michigan-based drug maker perrigo bought irish drub maker elaine, and moved its headquarters there, and helping to save an estimated $150 million a year. they're not the only ones. new jersey based drug company activist bought ireland will cot, and did the same thing. which i quita brands and medtronic are in pending mergers that would relocate their tax bases to ireland. walgreens is also said to be considering a deal to bring it under switzerland's taxing authority. of course, all of this is costing america a lot of tax revenue. the government wants to do all it can to close these tax inversion loop holes, which could cost uncle same billions of dollars over thing years. >> let's bring in meg tirrell and dom which you to discuss it more. we also want to know what you think, a

dom, thanks, dom chu any other hq. here talking about bet ideas. >>> and how about national oil well, narco, super value on the move. who wants what? >> niv strong on the upside call buying in that one and a lot of times people that are critical of seeing unusual activity say it's somebody cheating. no. sometimes it's just that the stock is picking up in steam, and people are looking for a leverage the way to play the upside there, judge. looks like they did that several weeks ago at nov. >> look at thermal fisher. larry robins and cooper likes it. the ten picks coop made last year, all up. all winners. so you have to pay attention when leon cooperman is making picks. then it's -- larry robins on the back, too. >> his commentary about thermo fisher similar to what he said about citigroup. when you buy an asset out of favor a good chance of good things happening to that asset or to its price. a contrarian way of looking at the markets. one 69 quips he made was, look if all of your stocks are at the all-time high list, y

dom any chu is here with me.morgan brennan at the nasdaq morgan, over to you. >> yeah, that's right, the nasdaq is up today, about 1.2%, taking a quick read here to 44.14, up about 51 points right now. i want to hone in on biotech, because we had those comments earlier in the week from fed chair janelle yellen about certain groups being overvalued. it's been a back week for biotech stocks. s the spede or xpi, both of those down for the week, but rallying today. here are some of the names here on the nasdaq trading higher today and outperforming the markets, amgen announcing positive phase 3 results. gilyard mentioned earlier, analysts updade, that's up about 4%. bioagain, celgene, rejenneren and alex on. still down for the week. >> thanks, morgan. appreciate it. trading action here, post 9, dominic chu, and kenny polcari. dom highlighted it earlier this afternoon, but the market is proving very resilient in the face of two large global conflicts. >> we had that nervousness, and a lot of it is generated. it's the

now to dominic chu for a market flash. dom? >> sara, not everyone is happy with rupert murdoch going after time warner, a double downgrade of issued to underperform from an outperform, arguing that fox would be better off getting its own house in order than trying to buy time warner. fox currently down 2%. cowen, though, also downgrades time warner to a neutral rating from a prior outperform time warner shares also down towards session lows, down by 3%. tyler, back over to you. >> dominic, thank you very much. ukraine's government issue as statement one hour ago saying the missiles that shot down two ukrainian jets over eastern ukraine were fired from russia. the russians have not yet commented. this video reportedly does show the downing of those two fighters this morning. cnbc has not independently confirmed the all then 'tisity of that footage. this comes six date after another missile brought do you malaysian airways flight 17, killing ought 298 on board. >>> to the next crisis, this one in the middle east. the faa now expa

. >> we get an earnings alert with dom chu. >> so pell lisa, if you look at two insurgical, the companyporting intuitive surgical is having da vinci tell in earnings dekrein tmpl company did earn $2.70 cents a share. it's interesting, we don't know, there is a question whether that's comparable to analysts stills. the revenue fell 11%. it was still higher than they were expecting in terms of sales, intuitive surgical shares are up about 12% in the after market. remember, they're da vin can i robot products did see declining sales. that might be one reason for the pop, guys, over to you. >> dom chuchl, thank you for that. >> i was looking at the short interest. >> this stock is, this is talking about a roller coaster ride, this is it. if you are fortunate enough to have captured this move, the quarter was i don't think good if you have to represent a 12% gain. i feel bad for mrs. nathan who i know is watching right now. >> it's a verifies honeymoon, it wasn't 20% nice. >> i am going to save your hyde and go to break. >> i'm just saying. >> don't talk anymore. >> coming up next, not just

let's go to dom chu. >> the downward trend for the market, airlines report a 3.5% increase in passengerer available seat mile. that's prasm, that's what it's called, more than previously forecasted. stock up 7% on the news. here's how competitors fare. off the session lows, delta, american airlines, jetblue and southwest all at least trying to get up to the positive said of things, but jetblue is struggle in trade. back to you. >> dom, thank you so much. >>> when we come back, family dollar's stock falling, but what's that stay about the rest of the discount retailers? talking about that when "squawk on the street" continues. the dow's down 132. the cadillac summer collection is here. ♪ ♪ during the cadillac summer's best event, lease this all new 2014 cts for around $459 a month or purchase with 0% apr and make this the summer of style. >>> shares of family dollar turning positive this morning in spite of the sell off following results that missed expectations. conference call happening as we speak, and joining us is managing director with stern ag. any ideas why the shares are now hig

dom chu, thanks. >>> the dow is declooirning. 98 points. down more than triple digits earlier.yesterday's drop, coming off of those record highs from last week. the nasdaq is down 1.3% right now. what's not working in the russell 2000, bio tech shares, carl, under big pressure, and in the s&p airlines continuing to get hit. one of the themes we've been talking about. >> airlines got hit obviously, klm, luft tunhansalufthansa, lo flights. spirit, basically a different kind of business, but not helping the airline sector overall. what a winner they've been. you've been watching the vix. up 9.8%. you go back a ways to see the vix right this quickly, this fast? >> volatility, last two days up 20%. haven't seen that kind of jump in two months. trader are talking about it. lower yields. here we are, fifth straight month of 200,000-plus jobs. everyone thought finally higher yields, finally a stronger dollar, better economy. it's going in the opposite direction. everyone's watching that ten-year yield, lower again. >> utilities, once again, best performing sector of the year, as people

dom chu is focused on the reports that could shake up your portfolio. dom, sideline reporter. what do you see? >> what will happen. big for earnings, not because of the number, the poimportance. financials, two biggest sectors in the s&p 500. on monday the next of the big banks, citigroup, reports its numbers. on tuesday, it's the banks again. this time jpmorgan chase and goldman sachs, as well as fellow dow components intel and then johnson and johnson. four big dow heavyweights and then wednesday here, check out this. bank of america and ebay. thursday, gives us morgan stanley and more important tech reports like ibm, big blue, of course and google. on friday, industrials. spoke about ge. it's reporting numbers friday as well as honeywell and kansas city southern on the rail side of things. again, not the quantity that's important here. all of these names could help set the tone for the rest of earnings season, especially in their respective sector es. stay tuned to cnbc later this afternoon remember on the earnings front. cfos on "closing bell" in the 3:00 hour to talk abou

. >> back up to ec for dom any chu and a market flash. >> how about another group? this is the airline stocks. it was pressured on that news that air france klm issued a if you profit warnings from lufthansa last month. if you look at names like delta, american airlines, spirit, jetblue, southwest, those are the biggest losers in the industry, but a great year for the airlines overall up until this point. you can see they had been on a tear, and airlines within the s&p 500, sue have been one of the top performing industry groups so far in 2014. they're taking a bit of a breather. still a noteworthy tray. back over to you. >> if you're just tuning in, the stock market selling off of it today, down for a second great day. off about 124 points. dan genter is the chief investment officer at rnc, and dave ellison is chief investment officer and portfolio manager at hennessey funds. good to see you, gentlemen. dan, let me start with you. we're basically going into earnings season later this afternoon. what kind of a season is it going to be and what do you make of today's

thank you, dom chu at hq. >>> a story on tobacco consolidation, a story i followed here for a long timeril reporting on the possibility, of course, on a deal of the participation of bats, 40% owner and dive divestitures take place. deals like this, they come, get momentum, and then they kind of wane for a while as a result of the level of complexity begin the regulatory impediments, need for expected divestitures, but i wanted to come back to it and, obviously, many other news organizations following this. no shortage of stories about this, but i wanted to come back to it, jim, because a number of sources indicate it is back on track in a significant way. in fact, i said that, not that long ago, but it is weeks away now. >> weeks. >> weeks. again, they have not yet fully negotiated terms, complexity of the deal could mean it's again knocked off course for sometime, but at this appointment, there's momentum pointing to the announcement, and to call it to be safe before the end of the month for a deal in which reynolds buys lorillard. it could be a creep up in reynolds as part of the deal

over to dom chu. >> good morning, check out what's happening with constellation brands this morning,ed first quarter earnings and sales. resulted boosted by an acquisition, the big one, the spirits maker raising the full year outlook as well. the stock, as you see, off session highs 2.5%. the stock, stz, up 33 % this year, and in a programming note, in an exclusive interview, rob sands live on "closing bell" 3:00 p.m. eastern here on cnbc: back to you, krarm. >> thanks a lot. >>> jamie dimon reporting he's diagnosed with throat cancer, saying the proknow sis is excellent, caught quickly, and condition is curable. he'll be actively involved in the company during treatment, and limit travel in the eight-week long radiation and chemotreatment, but other than that, says, quote, we'll continue to run the company as normal. thoughts are with him. >> yes, wishing him well. >>> coming up on "squawk on the street" gas prices got you down, as we hit a six-year high at the pump, the former ceo on gulf oil on where prices are headed next. still a fed-driven rally? the only chart that matters, yo

. >> everyone joining mess today is dom chu and jon najarian. we are getting ready to big reads on both those sectors, as well as a key report from one of the biggest nations railroad companies. 13% have met estimates, 25% have come in below forecast. first up here, intel reporting tonight after the bell, the world's largest maker trading at a high not seen in more than ten year. how much of this cycle is priced in. back in april, and so we're seeing companies buy pcs, but mkm is already saying third quarter, we're seeing it trail off. >> it's interesting, right, guys? in their own words, they said a couple months bag they're seeing stabilization. that doesn't mean that things are going down. it means that things are not going down as fast or stabilizing just a bit. but with intel it's priced in, but there are value investors who like this stock, believe it or not because of the yield and because it trades at a reasonable multiple, and they've been expanding into mobile, and doing it very successfully i am one of those people who is bullish on t

. >> send it back, check in with dom chu -- do you have more on rent-a-center? >> i do.t xly was bad if today's trade, ren hft a-center is taking a big hit. this is america's rent-to-own operator, it pre-announced earnings to the second quarter that missed wall street estimates. ceo robert davis said that quote macro-economic pressures continue to burden our financially constrained customers contributing to a softer than expected demand in our u.s. business segments. consequently, revenues and earnings 2014 will not meet expectation itself. rent-a-center announced it will be entering the rent-to-own business for smartphones. it is targeting cash and credit strapped customers by smart up front ownership. the later read, melissa and crew the more bargain and cost conscience ones, back to you on that. >>> lumber liquidators is being taken to the wood shed today. >> did you write that? >> no, it came out of my mouth. the retailer, saying fewer people are buying and renovateing their homes. so what does it mean? we cover the home building and building products industry. bob.

>> thank you dom chu. i'll see you tomorrow at 5:00 for more "fast." . >> i am back tomorrow on "closing bell." thank you for joining us on the special edition "mad money" coming up next. >> good night. ♪ ♪ >>> good morning, everybody and welcome to "the rundown kwoe "coming to you live from the singapore stock exchange. >> i'm pauline chu, first up, here are the top five things you need to know right now. >> a divided market, the s&p 500 once again on a record high as the dow slips. amazon, meanwhile, disappoints after the bell. >> if you're doing business here and if you're basically still an american company and you're simply -- >> to own this stock. today with the dow dipping three points and the s&p advanci advancing .05% and the nasdaq climbing, i want to talk about what's become the must-own stock of this earnings season. ♪ facebook. if you paid any attention to the market coverage today you probably heard someone say that facebook with the newfound $190 billion market capitalization after the $3.69

. >> thank you very much, dom chu. the nasdaq is also having a good day.s particularly driving it, seema. >> a lousy first quarter read on gdp could shake these markets, and nasdaq outperforming. major inadditions, technology historically speaking tends to outperform in a rising rates environment. it's not the best performing sector so far this year, but it is staging a comeback, in terms of today's biggest movers, netflix, the best performing stock on the nasdaq 100, getting an upgrade, analysts citing international expansion as a big opportunity. micron, seagate also higher, so technology playing a big role here, biotech, another big story here, regen ron, celgene, gilead sciences, some of the notable stokes higher on the day, contributing to the nasdaq's outperformance, definitely a risk-on rally. that's what helping the nasdaq get a nice lift. mandy? >> thank you very much. seema mody. let's bring in more voices. sue herera, ron insana, and guys, of course you've been covering the markets for cnbc for many, many years. you watched us go up, and then al

our dom chu is on what we like to call bubble watch today. >> bubble watch, not in terms of value acescertainly in terms of values of companies. nearly at 50 s&p comes by the sek knowledge sector in temples of value. roughly 50 companies in the tech secretarier since the dot com sector in business and still are today, 23 are now worth more in val than back in early march 2000. start with video gamemaker electronics arts reporting after the close also today. the height of the dot com boom,s 23ds stock. now $38. that boom in traditional video games and new consols powered the stock. questions remain about the huge shift in mobile devices and will it leave the stock behind? analysts have a price target here about where shares are traded. up 66 prsz perce%. not bad. >>> and apple, $4, to $5, closing in on $100 now. transforming itself into a maker of te of personal computers and tech devices. specializes in everything mobile commuting. a 2000% gain since then. analysts think it can continue. $102. 8% upside from kucurrent levels. microsoft, the new ceo trying to transform the company into

dom chu is back in hq looking at other names where earnings, those numbers don't tell the whole story>> so kayla, who needs profits, right? apparently investors in these stocks don't need them. look at the larger cap stocks in america meshrd by the russell 1000 index and out of the 1,000 stocks in that index, just 85 currently trade with a theoretical negative price to earnings ratio meaning over the last 12 moss they are not generating profits, rather generating losses. straight losses not accounting-type adjusted earnings losses. these investors are investing in a dream or the promise of profits in the fiuture. notable names. link linkedin. profitable in the past. immensely so. last quarter, a big loss after a boost to expand and now the stock is down 18% so far year to date. investors hanging in there thinking linkedin can be successful like facebook. an interesting story with linkedin. how about tesla? another one here. is the future of the auto industry actually electric cars? if so, is tesla the best company to benefit from the theme? tesla consistently generates quarterly accou

for that we go to dom chu. >> putting his ideas, see him talking about his particular investments.ber of different ideas. the list quickly for viewers to get you the headlines coming out of here. his top picks this time around are -- act activists, a company with tax eversions. mentions that. and citigroup, could trade a book value in the coming months and years. again, trading at, call it 15% discount to book value now. also gaming leisure properties. nordic american offshore and an interesting one. qep resource, super value and a couple international stocks. louis xiii and monoteese, made energy plays. qep one of them. independent oil and gas drillers based in denver, colorado. stock gaining steam throughout the course of the session. you can see so far, they're still speaking about it. we're asking about the picks. you can see up toward session high, up 2% on the day. >>> more details. larry robins of glenview coming up. >>> and cooperman's picks from last year, pretty good. >> and the year before. >> yes. >> he's 10 for 10 for 10. >> an amazing streak. >>> kara, the other story

up next, dom chu's going to round up the action for us, and then it's on to the big one, apple. have full coverage of those results coming up. being a keen observer of the world has gotten you far, but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running. in a we believe outshining the competition tomorrow quires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present. at every ford dealership, you'll find the works! it's a complete checkup of the services your vehicle needs. so prepare y

dom chu joins us with how that's been playing out in both communities, dom. >> i mean, just think abouteland right now, it's just about the only thing you're talking about, and i can guarantee you that just about every local newscast will be leading with this story tonight. so, just take a listen to the enthusiasm from cleveland fans in cleveland about this return. to ohio. take a listen. >> it's fantastic! lebron is coming back. we're going to have a winning basketball team. the republican national convention. it's a great time without all of that! now it's even more fantastic! go, cleve! >> everyone's going crazy. people yelling, screaming, running around the office like wild animals, i promise. >> oh, my god, i'm super excited! this is going to be great for the city, great for everyone here. >> we got our highway back! that's a wonderful thing! thank you, lebron! you have done a wonderful thing for cleveland. all is forgiven. we love you. >> so, you think they like it in cleveland, right? i mean, it's not just them that are talking, it's not just them talking about this whole thing.

dom chu joins us with some of the biggest movers today. om. >> hey, with the s&p 500, guys, 12 points away from 2,000, it's a big deal here. we'll start with boeing moving lower, despite better-than-expected second-quarter profits. investors are unimpressed as revenues came in about $300 million shy of average wall street expectations. you can see there the stock's down about 2.5%. a different story for puma pharmaceuticals, more than tripling its stock price after positive clinical results for one of its experimental breast cancer drugs. puma up toward session highs, up by nearly 300%. a strong day for biogen iac after raising its forecast due to strong sales for its multiple closis treatment. shares up about 11%. then, herbalife falling after rising some 26% on tuesday as hedge fund manager bill ackman failed to live up to some promises that he would deliver a death blow to herbalife as a company, and you can see there, carl icahn, who is long the stock, made a cool $234 million yesterday on his stake with herbalife shares, and so, that's

. >> down 87 points on the down let's get over to dom chu. >> check out what happens happening with monsterhe biggest losers today. the stock lower after morgan stanley analyst downgrades from equal to overweight and lowered earnings estimates duing to slowing u.s. sales trends. the stock down 2.5%. back over to you. >> thank you. the most recent u.s. ambassador to russia joins us live. hear what he thinks about possible new sanctions and how this affects the u.s. relationship with russia. dows down 90 points. back in a minute. the world has gotten you far,f but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running. that's why i always choose the fastest intern.r slow. the fastest printer. the fastest lunch. turkey club. the fastest pencil sharpener. the fastest elevator. the fa

before we do that, dom chu's standing by taking a look, by the way, at how chipotle, another big companyfter the bell, has done in its earnings. dom, what can you tell us? >> how about an 8% move to the up side in the after-hours session? cmg shares are on the rise, up, we'll call it near after-market session highs. again, 7 1/2 to 8%, after the company reported earnings per share of $3.50, handily beating the wall street expectation for $3.08 a share. reven revenue's also coming in better, $1.05 billion. wall street had been expecting on average about $990 million. now, interestingly enough, chipotle, white housech had a high-profile price increase they passed along to customers also said that comparable restaurant sales growth was up 17.3% during the quarter. it was driven primarily by increased traffic, and to a lesser extent, an increase in average check or how much an average customer spends at the restaurant. it includes the benefit of nationwide menu price increases. they opened 45 new stores, and they said that food costs were about 34.6% of overall sales. that's about 150 basis

dom chu looks at the key stocks driving the market higher. >> the dow underperformance since that pointwhere the nasdaq has come it's up about 12.5% since november the last year, the last time the dow hit 16,000. the s&p 500 is up 10%, even the russell 2000 with its ups and downs is up 8% and here we come to the end of line, the dow is only up 6% since the dow first hit 16,000 november of last year. so if we were to have this conversation about dow 17,000, we would be talking about dow 17,600. dow 17,600 is where we would be right now if the dow had just matched the s&p 500's performance since the dow first hit 16,000. so it's been an underperformer. you can see that gap on the right-hand side, that's where the gap, that's the gap we're talking about, the idea that the dow is underperforming the broader s&p 500. now, before the break, we showed you the great clip of the stocks doi ining better, caterpillar, disney, intel, merck, cisco, all of them doing spectacularly, but here's what we want to call your attention to. this is what's been weighing the dow down, the reason why it's been u

dom physical chu joins us with the recap. >> we will start with amazon taking a dive.econd quarter loss versus estimates for a 15 cent loss here. pandora sinking after hours. the internet radio company reporting earnings above stills, like third quarter everyone, per sare guidance there. internet company is beating estimates, baidu is the chinese google that beat earnings and revenue per share growth. these are the movers. >> it seems it's wonderful how mean and clean it seems at this hour. next, we will look back and talk about water coming up. steve leaseman's ice man's /* /s exclusive with president obama. moments away. stay tuned. if energy could come from anything?. or if power could go anywhere? or if light could seek out the dark? what would happen if that happens? anything. in a we believe outshining the competition tomorrow requires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and

. >> dom, thank you. dominic chu. >>> bag day in washington state. marijuana legal for recreation's use. for more, from nbc affiliate king tv, live in seattle this morning. good morning, theresa. >> reporter: right. good morning to you, carl. this is one of the only shops with their license and are ready to open. called cannabis city, in the soto neighborhood, south of are downtown if you've been to seattle, where the stadiums are. the company hired extra security. cameras on both sides of the shop here, because you know this is a cash-only business. they just put this tape up here, a ribbon cutting to show the end of prohibition, if you there. a line that's started here. they've got extra security, again, for the line control, crowd control. the first person to arrive, deb green. talked to her. she arrived 3:00 yesterday. she wanted to be a part of this. you know, folks here have been waiting 18 months since folks passed i-502 legalizing pot here in our state, and there's a lot of concern, because they've only been given ten pounds of weed. what the

dominic chu has details. dom? so, kelly, if you were wondering what former ford ceo alan mulally was going to do with his spare time, this is going to be one of them. alan mulally, former ceo of ford, is going to join google's board of directors. again, mulally to google's board of directors. in a statement, larry page, ceo of google, said that alan brings a wealth of proven business and technology leadership experience. "i am so pleased that alan is now joining google's board." mulally saying in a statement as well, "i am honored to serve on the board of a global, iconic company that is dedicated to enhancing our lives. i look forward to working together with the google board and management team to continue to deliver their compelling vision. so, again, alan mulally, former ceo of ford. a lot of questions about what he was going to do after ford. well, now we know at least one of those is going to be serving on the board of directors over at google, kelly. back tovar to you guys. >> now we can think about their d

. >> we want to send it to dominic chu also far quick market flash. dom? dow has lost about 30 more points in just the past half hour. there are other russian stocks trading in the u.s. that are also losing more value today. one of the big ones is a russian oil and gas giant, a $90 billion company that trades around a million shares in the u.s. on average every day. it's already trading over 1.5 million shares, down 4.5%. then there's ctc media, a russian television company, media company, $1.7 billion worth of that company, has traded over 1.1 million shares, down 3.5%. and mobile telesystems, a $19 billion telecom company trading 2.4 million shares a day on average, down 3%, tradesing that amount in just today's trade so far. again, heavier volume far lot of these trades. back to you. >> thanks you, dominic. as we look at the dow industrials, down about 70 points. quick break. over 20 million kids everyday in our country lack access to healthy food. for the first time american kids are slated to live a shorter life span than their parents. it's a problem

with the dow off 138 points, we begin here with dominic chu and a quick "market flash." dom? what's happening, kelly, bill. just following up on your report about the latest global opportunity asset locator from goldman sachs, you mentioned that they had downgraded to neutral over the next three months' equities. just to provide a little more color on what they're saying. they are downgrading to neutral over three months the equities because of the sell-off in bonds could lead to a temporary sell-off in equities. this makes the near-term risk-reward scenario less attractive. despite the fact that they still believe equities are overweight 12 months and beyond. so, this is a very near-term call. also, on the corporate credit side of things, they are downgrading to underweight, both over the 3 and 12-month period corporate credit. so, corporate bonds, on that front. also, underweight, staying underweight government bonds as well. they expect yields to rise due to sustained high u.s. growth and accelerating inflation and a decline of deflation concerns. so, it seems like they're

morgan stanley, ylan moy from the "washington post," kayla tausche and dominic chu, fighting some traffic problems, importantly, domwith us from the nasdaq to wrap up today's market action is "fast money" trader tim seymour. tim, want to start with you before we get to the markets. generally, what happened in gold today? >> a lot of technicals are working against gold, too. you have some technicals on the chart which pushed things back from the intradays on friday. you also had gold funds taking effectively record amounts, 0.7% of assets came in. so, overbought conditions in gold. i think some of the geopolitical hotspots, the fact that global growth looks better, i would always say that bear markets in gold can be very, very dangerous and deceiving. this was a bear market -- excuse me, a bull market in a bear market gulp, to be clear. >> that's exactly what i was going to ask, because i remember jim grant several weeks ago making it at that point a contrarian call for gold in the miners. they both performed well. and i'm just wondering if that was the trade, is the trade, or whether the setup looks better for this

. >>> we also have some news now from dominic chu, or a quick "market flash." hi, domlly, check out what's happening with the gap stores. the stock is moving lower 2.5% in after hours. the retailer reported its june comp store sales fell by 2%. again, you can see their shares off their after market lows but still off by about 2.5%. the weakness did come from both gap stores and banana republic. old navy was the only three of the major -- only one of the three major business segments that posted sales gains in june. so, again, gap stores lower on weaker comp store sales. back over to you, kelly. >> all right, thank you. >>> stocks making a big comeback today after they were sharply down this morning, but my next guests are watching some names in particular for a pullback before they pounce. the stocks they say you can't afford to miss out on when and if this correction deepens are straight ahead. >>>also, fed vice chairman stanley fischer is minutes away from making what could be a market-moving speech. stick around. you do not want to miss these key headlines. we will

chu monitoring all the buzz. we'll get this color commentary as well on tweets throughout the hour, just as dom did for us last time, patrolling the sidelines again, half way through the contest. >>> coming up, breaking down the most profitable trades of our competition thus far. >>> plus, the leader. making had his way to the hot seat. the competition has lots of questions, follow all the action. cnbc.com/2014-playbook. back right after this. just take a closer look. it works how you want to work. with a fidelity investment professional... or managing your investments on your own. helping you find new ways to plan for retirement. and save on taxes where you can. so you can invest in the life that you want today. tap into the full power of your fidelity greenline. call or come in today for a free one-on-one review. chocwhite chocolate loversal. don't like dark chocolate. milk chocolate lovers don't necessarily like dark or white. before we couldn't really allow customers to customize their preferred chocolate. we needed a scalable cloud solution allowing them to select what they are looking for. now there is endles

chu monitoring details. how are the ideas for us? dom? >> right. mike novagrass, microplays what's happening. his theme, all about investing in regime change. talked how last year it was india and japan, india recenter with this change. now talking a be brazil and argentina as well. saying that brazil is so bad it's good. saying that he thinks the president there will lose the upcoming election in brazil and that will be positive for brazilian equities. also mentioning that the same kind of situation is going to happen with argentina as well, with the president there. he says forecast to lose the presidential election in argentina. so as she goes out, argentina may also be an opportunity to buy up some of that exposure, if you're looking for that regime trade play. so, again, an interesting concept. what we know, mike no virginiag saying arg taentina could be th next bing thing. that's what he's looking for and pitching at delivering alpha on the best ideas panel. back to you. >> thank you very much. brazil and argentina. more ideas coming at you from delivering al 235. >>> coming up on the s

chu with a market flash. >> check out which i pot lair. saying there was no negative impact from the higher menu prices. the stock is up toward session highs, sue, back over to you. >> dom, thank you. >>> the crisis in the middle east not looking like a crisis for israel stocks today. the broad tel aviv 100 index, the tel aviv 25 also up just under a percent. twot main etfs tracking the israeli market, today the eis is up, and the isra is also in the green pretty solidly too. short-range antimissile system in act again in the last few hours, hamas fire missiles towards israel's population centers, including tel aviv. the iron dome system so far deflecting all missiles aimed at israel's second biggest city. despite the protect from iron dome. hamas missiles are causing damage and a lot of frayed nerves. the siren rang in the middle of this wedding, just about everybody, including the bride and groom had to run for shelter. the israeli arm releasing this video today of what happened when five hamas men tried to infiltrate israel from the sea. they were cut down by naval gunners before getting very far at all. inside of gaza, the signs of war are pretty much everywhere. is