etrade is being replaced by ken griffin. zynga loses the coo that was out of the mix with the shuffle announced last week, and take a look at elizabeth ar den and express scripts, both at all time highs today. >> thank you, bertha. in the meantime, the s&p 500 is trying to eek out the first five-day win streak. >> yes, even though bullish sentiment rose this week, it's only at 36%. so where has this rally have been coming from? we have mike thompson and anthony chen. let's talk earnings, first. give us a sense of what you're seeing in the second quarter period, and do you think the fourth quarter be stronger than people think? >> let's take a look. we're finishing up second quarter. up very modestly, up.82%. hardly anything to brag about. next quarter is not looking so rosy. we're looking for it being down. five of the sectors are looking to be weaker, and the fourth quarter, you know we're expecting 10.5%. >> where does 10.5% come from? >> well, i guess hope springs eternal, but i think there is a lot of inflection in the m

and today etrader is yet again turning heads with a collection of exclusive hotels and restaurants around the world, including the brand new public chicago hotel on that city's gold coast. we caught up with this friend setting entrepreneur to find out how he manages to build buzz and stay ahead of the curve in a down economy in this learning from the pros. ♪ >>> it's an instinct, a feeling that this is what's happening, this is where people are going. this really came about because when we opened up the studio, we had a lot of street people. we wanted to keep the street people out. so we had that turn into a frankenstein monster. so it wasn't about that for me anymore. it was a good idea when we did it but i think it's time has come and gone. the way we market is just by increasing your presence in the marketplace. we have a very, vy successful restaurant here. it's a kind of new idea because it is very simple food, very low priced and done by a gourmet chef, john george. he came out with a book, because i have no interest in selling a book, i want to sell the hotel. so i thought it would

. >>> a shake-up out of etrade this morning.tha has more from the nasdaq. >> the stock jumping to a two-month high. it's viewed as a positive that ceo stooereven fryberg is out a the chairman serves at the interim ceo. one trader said that ken griffin of citadel, citadel holds a big stake in etrade. he's part of the search committee and they're speculating that the company may be more possibly moving closer to possible sales, getting things together so they can be sold. they did engage goldman a while back to look at strategic alternativ alternatives, but nothing came of that. this is a positive move that they signal they get back to their retail business, which is something that fryberg having come from t.d. waterhouse shifted aaway. not a long tenure there, carl. only there since 2010. >> interesting. people keep waiting for the call sa consolidation in that industry. we'll see if it happens. thanks, better at that. mobile payment compete is heating up. shares of verifone falling after starbucks announced it's partnering with

. >>> shares of etrade, a big winner on the week, on news that the ceo is out.sons for his departure, but they blamed a drop in profits on a slow down in retail trading. should he will blamed for a lack of interest in this market? and should ceos take the blame for things outside of their control. joining us now is jay brown. and jeffso son nonfield. is this a fair situation when it's out of his control? >> they don't mind taking the credit when it's a great surge in the economy and lifts all the boats. you hardly see the beneficiary of good times, and when it's bad times, they should take the hit for it. it's also war and peace that we gave too much create to this person in history saying napoleon was just being carried by world events that people argue is a complex and international trends happening. ceos matter and make a difference. >> is this an unfair situation, and in general is it the weight and burden of the ceo? >> i think, mandy, this has got to be sending shivers through the spines of most ceos in the country. while we tend to identify the ceo as the

. >>> and finally etrade is looking for a new chief executive. steve fryeberg departed.ok for an interim ceo while frank petrilli becomes interim ceo. >>> cnbc's jane wells joins us, i don't know whether you took one of your new bullet trains to where you are, certainly got to get those things going, don't worry about cities. >> yeah, $68 billion, joe it's gotten so bad the presumed republican nominee is making fun of us. listen. >> if entrepreneurs and businesspeople around the world and here at home think that at some point america's going to become like greece or like spain, or italy, or like california -- i'm just kidding about that bun, but if they think -- in some ways. >> so, where do we stand in california earthquake of fiscal emergencies? the quake began in 2008, vallejo went chapter 9, emerging three years later a shelf its former self but solvent. stockton went into bankruptcy and it could cut medical benefits for current retirees. mammoth lakes and san bernardino followed, six cities declared fiscal emergencies allowing them to try to raise taxes. fairfield a

reroute traffic through knight but as far as we can tell, we have been calling around and as of the etradesnd vanguard is still trading them away from knight, but the 25% gain on the notion that it can operate for at least the day at least. >> and knight capital fighting for survival of course, and the next guest says that a firm could be swept up in this similar situation, and that regulations are needed to keep the market under control. we are joined by stewart to talk about this this morning. talk to me about where you think that we are and whether a new wave of regulation will fix this problem. >> well, there is more regulation that needs to come into play here. this has been, as you know, a series of problems from facebook and the flash crash and as we move ahead with the technology unless the regulators push firms such as knight to update the technology, have backups, have backup systems just like the aerospace industry does, like na nasa, so that when there is trouble, and trouble should be expected, there is a backup system that can take the place and fill in. and they should be tes