elan acquisition, very exciting for alzheimer's. how do you balance this out for j & j as people are equating the upset? >> yeah, they took $1 billion hit because of the generic drug competition. but they did this complex arrangement with elan, bought biotechnologies as we know, but even so, reaffirmed their earnings guidance for this year which a lot of people were surprised by given the deals and acquisitions. but look, those are gambles, bets on the future. you can't make a call on that. >> mike, quick, go back one second. j & j is well diversified, a third of their sales are from humera, are they going to be as diversified as j & j to weather another bad quarter? >> more sales of medical devices in the second quarter than pharmaceuticals. >> mike huckman, thanks so much. he fills us in on pharma and moisturizers. coming up next, the stock report, only half the story, the conference call is about to get underway. we'll have updates for you right after this break. don't go away. >>> on tonight's trader radar, we look at the stock

. >> elan versus two drugs going generic, they dealt with both of these in the last quarter, elan acquisitionvery excited. how do you bald it out for j & j? >> they took a billion dollar hit because of the competition? but they did this complex arrangement, but even though they reaffirmed their earnings guidance for this year, which a lot of people were surprised by, given those deals, but look, those are gambles, bets on the future, and you can't make a call on that. >> mike, real quick. j & j is well diverse fitted. i look at abbott labs, a fuel of their sales are from hue mira. will they be able to be as diversifie diversified? >> great question, but to your point, j & j had more sales of medical devices in the second quarter than pharmaceuticals. >> mike huck man, thanks so much. he fills us in on pharma and moisturizes us. >>> the after-hours for intel, the conference call is about to get under way. we'll have updates right after this break. don't go away. >>> a tonight's "trader radar" we look at the stock lighting up screens. founded ten years ago as a way to make diamond shopping less

elanation of t satement from you, i think you're saying th judges can twist the l regardless what the legislature, the elected branch of governmen has enactedinto law. it is kind my interpretation of that. obiously or tell me you don't mean that, at least you know where i'm coming from. that interetation is clearly not my inte. and ion't really remember those particular words, but i do rememb it. i assum youre talng about returning majesty to the law d there i was talking aut a broader set of estions which was how to bring the plic's respect ba to the funion of judges and was talking about that judges, that lawyers have an ligation to explain to the public the reasons why what seems unprictable in theaw has reon. and i mentioned in tha speech that one ot big reasons is that congre makes new laws. th was the very first reason i discussed. and also that the's new chnology, there's n devepments in society. and what lawyers do is come in d talk to abouth, ok, we've got these laws, ho do you app thm to this new situatn? what jud does and that'shy i was talking about the assistance of lawye

elan, you cover business for "the washington post." what's going on in that sector? >> i think we really saw a case where numbers can really be acciden deceptive. the commerce department said that retail sales were up, but most of that came from gas prices and gas prices being higher is not a good thing for shoppers at all. the consumers are still feeling pretty stressed right now. >> still feeling pretty stressed. let's go to detroit, where tom watches the auto industry. tom, latest jobless claims numbers. actually, they're saying helped buy car plants opening earlier than usual because gm and chrysler emerged rapidly from chapter 11 and new car production, they say it's expected to add 0.7% to gdp in the second half. are you feeling any of that hope yet? >> well, we're feeling hope, we're not feeling much retail support yet. it's -- you still got 15% unemployment here. >> 15% unemployment, yeah. and that certainly is tough. but with car production revving back up again and helping the entire national economy, you've got to hope that allows some people to return to

it's asood an elanation as >> well, it is od. isn't it ney is a motivat.camp right now where i don't know she hadhat much to gain by staying inlaa to finish out her term. even though, u know, conventional wisdom would say that's what she should do. it might nott her f whatever her future holds for her. >> perry bacon, are you persuaded by levi's heaay? >> i d't know how muchi talks to the governor t i ink, that said, i think it is likely she'll make a bo, it is likely she will makeo money being out of the governor's office than in the vernor's office. >> we've been taking bets all week and'd like yo to put your bets dow n she plot her way from here a presidential campaign or is she completely out of it? >> yes, she can. what do know? she haso expand her base ich is going to stick with her. she's in a nse -- remember the daysn hillary rodham clinton s seen as very polarizing figure? that changes. you can change your personae. it's very hard. if you want to sl a lot books and become a naonal figure tt is accepd by all the replican party, n just a segment, sh

an elanation of derivatives where no one fls asleep or getsored.tht, but you also are $14 trillion in e hole. >> of which i re about. >> whh we do ca about. soet's dance a little bit and th tk about aig. what could be mor fun? 're back after this. >> the babies are back. ryryan gting ready to make his approach.... t t men's room. second annououncer: oks like he needs t to go urgtly. true. and there'casey, about to drive. also to the men's om. h been going over andvever. they ought to seeee tirir dtors. could malurinary symptoms d d to bp an enlarged prostate for r ny guys, prescriptition fmax duces their urinary sytoto due to bph in e e week. and if their d doctors do prescribe flomax, eyould get up to $40 off new refill prescriptions.s. so guys already on flomax x can alsosoa. only your doctor can tell if you have bph, noa more serious condndioion like prostate cancer. avoid drivining h hardous tasks for 1212 h after yourir dose or increase inosose, as a sudden drop in blood prpressure m m occur, rararely rulting in fainting.g. if considering cact

that's actually relatively good news because they're absorbing the dilution from elan last week and thequisition last week. they're absorbing the dilution from the two deals. >> the combined impact of their declines was nearly a billion dollars. >> the bid ask is up about $2 -- i'm sorry, a little lower. now it's $58.56. >> sorry, there was a weird -- >> yeah, 80 cents. so this could have been worse? what are you saying? they might have said something about the year? >> no, this is pretty much what we were expecting. it's a little better than the street. they beat on the bottom line. tom line is a little better than the street was forecasting as well. >> right.. >> and i think people are looking forward because they have a relatively strong pipeline. they had a deal with two major drugs going generic. as i said, the one quarter which they'd feel the hit from both. now if the pipeline plays out, growth should start to improve over the next several quarters. >> can you see anything about the overall economy in terms of their consumer business? can you make any macro statements? >> no, not

nico pitney discusses the rest and elan -- and iran. there are other political news of the day. "washington journal" is live at 7:00 eastern. >> over the july 4 weekend, notable americans on c-span, stories from inside the white house, domestic policy advisers on the president from richard nixon to george w. bush. honoring president ronald reagan. ken burns on his career and upcoming series on america's national parks. a tribute to the riser john updike. -- to the author john updike. he has won two pulitzer prizes. find out what is on any time at c-span.org. >> this is a forum on the american presidential secession in the event of an attack. to hear about a new report on potential weak points. fran townshend and policy analysts. it is over 2.5 hours. >> of this is key around the success of this report. we are preserving our institutions, which is the second report of the continuity of government commission. this was created in the aftermath of 9/11. there is the recognition that washington will remain a key target for terrorists and that a key objective is to do as much as possi

the former governor did not elan rate on her criticism of the media, but in the past, sarah palin's talked about her and her family being unfairly treated by reporters and bloggers. didn't seem to be a problem for her, though, when she was using the news media and her family to promote her candidacy for vice president along with john mccain during last fall's election. sarah palin also criticized so-called hollywood starlets who are active against gun rights along with, quote, the partisan operatives, unquote, who filed ethics complaints against her. she even went after an unidentified, undefined group, who she said, quote, seemed to be just hell bent on maybe tearing down our nation, perpetuating some pessimism and suggesting american apologetics, unquote. huh? as for palin's future, she's being equally vague, including yesterday's campaign-style speech by saying, quote, let's all enjoy the ride, unquote. palin has plans to write a book, or, more accurately, probably to have somebody else write the back and then she'll put her name on it and then campaign for ore republicans. some people