>> i like emc. a brand new mid level storage product and they also believe that going forward, they are going to be an important enabler of the combination of private and public cloud infrastructure. which will be a big deal. i don't see that to the same extent with the hard disk drivers. >> we've got to run. we've had so much breaking news. down in d.c. we'll have you back soon. >> yes, sir. thank you. coming up, the call of day. coverage of a stock that almost everyone loves. being initiated with its sell rating. that is up next and in case you missed it, stocks soaring on news of a deal from the is that the. getting the latest on that and what's next after the break. i know what you're thinking... transit fares! as in the 37 billion transit fares we help collect each year. no? oh, right. you're thinking of the 1.6 million daily customer care interactions xerox handles. or the 900 million health insurance claims we process. so, it's no surprise to you that companies depend on today's xerox for ser

emc missed revenue estimates by 120 million dollars and cut its full year outlook. the stock dropped 4% defense contractor lockheed martin beat estimates-- united technologies also reported in solid results. delta airlines came in on a high note. earnings topped expectations across the board. the stock soared 4% harley davidson and coach were in line with wall street's expectations. coffee drinkers have a wonderful reason to get up in the morning...the price of coffee beans hit a four year low. great growing weather, especially in brazil, which produces more coffee than any country coupled with coffee inventories at a five-year high means consumers will be paying less for their morning cup of joe. coffee futures are down 22% in 2013. mcdonald's is gearing up to add pricier items to its dollar menu in a bid to spur sales. 2 and 5 dollar items will reportedly be added to the "dollar menu". such as--- 20- piece chicken mcnuggets for $5 and new burgers for $2. don't turn away -- there's plenty more ahead... a trader play on a stock that is sitting on the sidelines... pl

emc is obviously going to be reporting. they are tied together. >> you actually got into emc over vm ware today. >> that is where the options are flowing. traded about 30,000 of the call s. >> tomorrow, apple is expected to unveil its latest ipad. but its market share for the second quarter was down about 25% versus a year ago. >> probably not the ipad minny at 3.29. and the full sized ipad with receiptina at 499. the rumor is that we will get a mini with the retina display. i doubt they can do all of that and maintain margin. wouldn't make too much about the unit share concerns. >> all right. john, i still have a question here, this is still a soft that is basically. >> i kind of doubt it. i think a lot has to do with the iphone itself. what they have to say about the 5s and what they're going to be able to do supply wise to keep up with demand. i think that's going to have a lot more to do with it. >> thanks a lot for that. apple, what's the trade. >> everybody has a good call on this. technically the call has broken out.

doing all itt is can to catch these people and attack -- who attacked the number 2 at emc. can you give us a progress report? >> not really. the russian foreign ministry says it was a regrettable incident and it takes it's your site. -- it takes it seriously and the russian police have opened a criminal investigation in moscow says it will operate thoroughly with the dutch authorities. of plane which coming out of the foreign ministry is very different from the language coming out early this month, when the russians were furious with the dutch authorities after a russian diplomat in holland was detained briefly. the russians said that violated his diplomatic immunity. hollander later apologized and said, yes, that was a violation of international law. this diplomatic spat has been going on for two weeks now, really. >> how is the dutch government playing this? >> they are very angry, and the irony of all of this is that 2013 was meant to be the year of friendship. but we should be clear, this year of friendship was based on any kind of shared cultural tradition or politics.

you would be tempted to go long vm and short emc.re. >> jim, i'm feeling the rise above. i have the idea of how to turn this. i'm serious, from a negative into a positive. i'm serious. we get these guys. the president called. we deal with the sequester. discretionary is not the issue. we give some stuff on the sequester. we do a little bit on entitlements, get the dialogue started on cost of living. we come together and do these things. the market likes it. we get together a little bit better. obama care isn't part of the equation. it is sequester and entitlement. we come up with something. >> that will be fabulous. entitlements are the issue. >> i don't know whether the republicans would agree. >> i don't know that they would. >> they might but he would look -- if he did it, it wouldn't be a sign of weakness if you were to call and say, all right, let's go ahead and talk about this. >> how about saying, listen, i'm not negotiating over the next year but i am in the back here. kind of like what greenspan did with social security. in

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. >> and emc is out tomorrow. that does it for the earnings squad.conversation and back tomorrow with sta"squawk on the street." back to brian. brian? >> reporter: melissa, we're going to go to a break but we're surrounded by drills all throughout history here. you've got the 1970s. go back as far as the '50s and '60s. this machine is known as the big o coming up, we'll talk about the future of drilling with the ceo of concho resources, cxo. they are the biggest pure play permian premium. that's right after this. [ male announcer ] once, there was a man who found a magic seashell. it told him what was happening on the trading floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that everybody could have a magic seashell. [ indistinct talking ] [ male announcer ] right there in their trading platform. ♪ [ indistinct talking continues ] [ male announcer ] so the magic shell went back to being a...shell. get live squawks right in your trading platform with think or swim from td ameritrade. >>> okay. it's street talk ti

conducted by emc research shows the mayor could have a tough time being reelected next year. 46% surveyedhey definitely would not vote for quan. only 5% say they would vote. the same poll showed crime is the worst thing about living in oakland. >> taxpayers will pick up the cost for defense. a judge appointed public defender to represent after he told the court he was destitute. resigned as county supervisor in march after pleading guilty to multiple counts of fraud and corruption. a new charge was filed accusing him of creating a fake campaign flyer. >> governor brown will sign a bill today to allow undocumented immigrants to get a california driver's license. advocates for immigrants lobbied so immigrants can drive without fear for being pulled over that could get them deported. the new licenses would look different. right now 9 states and the district of columbia issue driver's licenses to undocumented immigrants. >>> taxi drivers may file a lawsuit to stop competition from ride sharing companies. the taxi association will meet today. consider suing companies like lift, side car and ub

according to the poll by emc research, the number one complaint was traffic.direction, but city leaders say this is a mixed blessing, as walnut creek is actually facing budget problems. the city manager is predicting a 2 to $5 million deficit starting next fiscal year. >>> today, the san francisco 49ers will induct john mcveigh into the team's hall of fame. mcveigh joined the team back in 1979 as director of player personnel and also served as vice president and general manager during the glory years when the niners won five super bowls. in total, mcveigh spent 21 seasons with the franchise. he will be recognized during tomorrow's game at candlestick against the cardinals. >>> the team boarded a flight yesterday, destination, china. it's part of the nba's global games, an attempt to promote the league worldwide. the warriors will play the los angeles lakers in two exhibition games, one on tuesday in beijing, the second one to be played friday in shanghai. >> the most important thing is to show these people respect. go over there and play as hard as you can and

he's been working at emc, he's working on the next generation of cloud computing platforms. leading vendor with amazon and he would probably pursue this opportunity on ipads and say forget this fidelity. so there are things, good management here, i think could do to innovate and address new markets. >> rick, with such a strong move, just to resit rate up now and so many in the oofring. >> a lot of people dug their heels in and said i don't care what's happening with the corporate governance side, the business is getting hurt by tablets. they've been feeling a little bit of a short screen for the last month or two. new management will offer the promise of a -- and so then what do you do with the cash? do you cut stocks? if mulally decides to take the job, you could do it. >> what a difference management can make. great to see you this morning. >> have a great weekend. >> the health and human services secretary kathleen sebelius is on the hot seat. hampton pearson joins us. >> reporter: she was on a call center yesterday, saying people are working 24/7 to fix the web site and