talk about it all the time with david faber. you're betting here that ceo meg whitman can pretty much pull off a miracle, a wholesale reinvention of a company that has been brought down by horrendous mismanagement and horrible acquisitions before her all stewarded by perhaps the worst board of directors in the world. but all of that said a couple of decades ago, ibm too looked like a goner and it was turned around. it could happen to hewlett-packard too. i don't want to own hewlett-packard here, it's run up 40% since the year began and we're in february. here's the bottom line, we've rallied huge off the bottom as the dow attempts to scale an all-time high, and i expect the

david faber from california, hp headquarters. "sidewalk "squawk on the street" tomorrow, meg whitman will sit down with david. you noticed unusual trading ahead of the earnings. >> i did. 3:15 eastern time, they aggressively were coming for these options, these call options. and they were selling put options. does that mean they had tomorrow's newspaper today or at least the 45 minutes into the future newspaper? perhaps they did. or, they were just very bullish and had that as an excuse as to why they loaded up on these options. there were a number of very large trades that went off in this one. the puts were outtrading the calls pretty significantly. the calls caught and passed the puts in the 45 minutes. >> was this more unusual than the usual unusual? >> well, everybody, of course, has the excuse that they're buying and selling these options into an earnings play. >> right. >> so, you do have some cover, if you're somebody trading on tomorrow's news into something like that, because you can say, i was just very bullish. i saw

david faber report that had liberty global acquiring virgin media in a cash and stock deal.avid reporting that the boards have approved that deal. we're still waiting for the pricing, and we'll get you that as soon as it crosses. bill, back to you. >> thanks, josh, very much. >> dow jones industrial average now closing in on that 14,000 level once again at 13,990. >> yeah. with three straight market days now of see-saw triple-digit moves by the dow, is roll tilt back? will it continue? joining us with their thoughts, sam stoval and larry canter from barclays. what about the volatility? one triple-digit move in the dow in january and three so far in february. >> i think we're just getting back to normalnormal. in 2012 we had three days that the s&p fell by more than 100 point and the average since 2,000 was 15 so we had one-fifth the volatility last year as we've normally had. >> what do you think, larry? obviously there's a lot of momentum in this market, even despite the decline we saw yesterday. does this continue? >> well, i do? i wouldn't be surprised to see a correction

david faber will have that and bob benmosche talking about his numbers from aig. second hour of the "closing bell" right now. i'll seal you tomorrow. >> have a good one. >>> and it is 4:00 on wall street. do you know where your money is? hi, everybody, welcome back to the "closing bell." i'm maria bartiromo on the into of the new york stock exchange. man, a roller coaster ride today on wall street as the major averages close lower for a second day in a row, off of the worst levels of the day. market had been down close to 100 points. we're finishing down 49 points on the dow jones industrial average after hitting the lows about half an hour ago when the market was down 13 point. nasdaq giving up 33 points tonight. technology one of the leadership groups on the downside and the s&p 500 weaker by 9.75. moments away from aig and h-p earnings. david faber is live tonight at h-p headquarters, and aig ceo bob benmosche with me live exclusively. in the meantiming right to the market's action as we await earnings news that will set the tone for tomorrow. joining me now is

our report from david faber. >> as a professional intelligence officer i stand in absolute awe at theeadth, sophistication and persistence of the chinese espionage effort against the united states of america. >> general michael hayden, a man who has run the cia and the nsa says the chinese are intent on building their economic empire by stealing american trade secrets. >> this is stealing american wealth. it's stealing american jobs. it's stealing american competitive advantage. >> is the threat growing? >> yes. it -- it grows daily and what we're really fearing is these advanced persistent threats. >> the advanced persistent threat is the guy that comes every day, in china, reports to work and sits in that network. >> undetected and extracting information. >> in a new report released this week the cyber security firm mandiant pinpointed where some of the most sophisticated hackers in china are working, in or around this building, a chinese military unit's headquarters on the outskirts of shanghai. this elite group of hackers has been dubbed the shanghai group. they've struck 141 time

david faber has more on hp's results. >> i'm david faber at hewlett packard's headquarters where the hobbled giant has reported a better than expected first fiscal quarter of 2013. revenues declining a bit less than anticipated by the analysts that followed it. hewlett packard reported 28.4 billion in revenues and produced earnings per share of 82 cents a share. it also produced cash flow of 2.6 billion and free cash flow of $2.1 billion. again, more than had been anticipated, allowing it to reduce its net debt to 4.7 billion dollars. among the its bright spots, the printing business where it was able to pick up margin doing better with higher end customers than had been anticipated. >>> ender surprise group, enterprise services coming in better than had been anticipated by the analysts who follow the company, again, contributing to that better than expected bottom line. the company also point to go a better than expected second quarter, but has not changed its overall guidance for the full year. one reason may be that an enterprise services and key accounts were expected to come off

the vice chairman of blackrock, one of the most highly regarded guys and marc faber of the gloom, doom, green krenette and david rosenberg, quite a team of people, a few who have been around for quite a while. >> rosenberg is a permabear. >> faber, didn't faber tell maria this week he doesn't like it but he's still buying stocks. >> he says i'm in grave danger because i do not own gold. >> you're in grave danger. >> yes, yes. >> right. because i don't own gold? gold hasn't done much. >> but it might, according to some people. look, that's the part about all of this. we don't know for sure but you always have to be on your toes. i know reality and i understand reality, but i also understand that you reach this point where the spring gets sort of tightly wound. >> absolutely, and you're bringing up one of those simple things that we call fundamentals. unfortunately, some of these fundamentals haven't mattered recently. herb, thanks. check in with you again soon. coming up next, another contrarian view. he actually says a crash is coming. >> but for now we're on dow 14,000 watch. we'll br

david faber, your take?again, i kind of agree with you, maria. >> a lot of mixed signals and investors have asked the question a number of times over the last couple of months given the cheap cost of money right now and the debt being raised here, actually being issued to ge, but given the low cost of borrowing and all the cash on hand on the balance sheet of our parent company comcast, soon to be our full parent company, many have said, hey, not a bad time to do this. immediately acreative to full cash flow and there's a sense they may flow into it. part of an equity creep that was part of the original deal with ge that made it difficult for comcast to buy in over time, when they had the periods of options to exercise rather than all at once. decided to go all in. some will applaud the use of the balance sheet and use of the cash, $11.4 billion of cash from the balance sheet used in this way levering up a bit more and the fact that it would be accedive, i would assume and maybe it says good things about the

faber's exclusive with hewlett-packard ceo meg whitman. we'll get her first reaction to the company's first-quarter results next. looks like the futures are going to be a nice open on the street. dow looks at an implied open of 79 points, or thereabouts. nasdaq getting a nice rebound after a new day of selling. ♪ [ male announcer ] to hold a patent that has changed the modern world... would define you as an innovator. to hold more than one patent of this caliber... would define you as a true leader. ♪ to hold over 80,000... well that would make you... the creators of the 2013 mercedes-benz e-class... quite possibly the most advanced luxury sedan ever. see your authorized mercedes-benz dealer for exceptional offers financial services. >>> let's get back to david, who is at hewlett-packard headquarters in palo alto, california, with an exclusive interview with the ceo meg whitman. david? >> thanks very much, melissa. as you said, we're here in the headquarters. the building has been redone a bit. thank you for having us and hosting us. meg,

eastern time, faber is out there today. we are back after a quick break.ow, we have to boost our social media visibility. more "likes." more tweets. so, beginning today, my son brock and his whole team will be our new senior social media strategists. any questions? since we make radiator valves wouldn't it be better if we just let fedex help us to expand to new markets? hmm gotta admit that's better than a few "likes." i don't have the door code. who's that? he won a contest online to be ceo for the day. how am i supposed to run a business here without an office?! [ male announcer ] fast, reliable deliveries worldwide. fedex. a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ all stations come over to mithis is for real this time. step seven point two one two. verify and lock. command is locked. five se

channels.barry faber 40: 40::9 there are kids channels you're paying a lott of money for.you don'tt hhve children nd you don't watch t you're stilllpaying for it. f you're not than our broadcast stationss that bring local neww everr -& pay for that.((nats of sportscenter ooeningg) in 2012... the llrgesttchuuk of your monthly t-v bill went to espn. snl kaggn is a shows an average of 9-dollaas & and 8 cents of every monthly cable anddsattllite billlwent -3 to tth espn networks. also topppng the list... 3-nnt... &pit's a grup of 3-d channels... that cost each subscriberr1-29 a moott. 3 t-n-t... gets a dollar and 18 t-v broadcastee.... gets just 33-cents. in some markets... llcal news is vieweddby thhee nd a halff times the umber oo people patching cable... buu local broadcassers onnaverage only pett7-percent of what cable networks receive. that's why which oonssthis statioo.. is - negotiatiig a new contract with directv... which gives them thh right to broadcast our ignal.. 4520 we realize &pthis is incoovenient. we applogizeeffr it. we hope &pgoal s tt ppovvde reat proorammi

david faber. europe stabilizing as service pmi showing overall slowing of contraction. in china, services pmi accelerating to 54. as markets climb back from the s&p's worst day since november, is today's market going to demonstrate investors' willingness to buy the shallowest of dips. >> the business that accounts for half of sales down 6% for the recent quarter. >> justice department's lawsuit raising all kinds of questions. is this payback for downgrading the sovereign debt? >> and will today bring news of a dell lbo, and if it happens, what is the effect on equity markets, credit markets, the pc sector and michael dell himself. >> we start with the markets today. futures off the highs of the morning. the biggest decline of the year so far. s&p fell back below 1,500. the markets topped out, or is there more room to run for the bulls. jim is back from new orleans and other exotic locales. >> oh, yeah. >> good to have you back. >> thank you, carl, good to be back. >> are we in a new kind of enviro

our report from david faber. >> as a professional intelligence officer i stand in absolute awe at theeadth, sophistication and persistence of the chinese espionage effort against the united states of america. >>eneral michael hayden, a man who has run the cia and the nsa says the chinese are intent on building their economic empire by stealing american trade secrets. >> this is stealing american wealth. it's stealing american jobs. it's stealing american competitive advantage. >> is the threat growing? >> yes. it -- it grows daily and what we're really fearing is these advanced persistent threats. >> the advanced persistent threat is the guy that comes every day, in china, reports to work and sits in that network. >> undetected and extracting information. >> in a new report released this week the cyber security firm mandiant pinpointed where some of the most sophisticated hackers in china are working, in or around this building, a chinese military unit's headquarters on the outskirts of shanghai. this elite group of hackers has been dubbed the shanghai group. they've struck 141 times

talk about it all the time with david faber. you're betting here that ceo meg whitman can pretty much pull off a miracle, a wholesale reinvention of a company that has been brought down by horrendous mismanagement and horrible acquisitions before her all stewarded by perhaps the worst board of directors in the world. but all of that said a couple of decades ago, ibm too looked like a goner and it was turned around. it could happen to hewlett-packard too. i don't want to own hewlett-packard here, it's run up 40% since the year began and we're in february. here's the bottom line, we've rallied huge off the bottom as the dow attempts to scale an all-time high, and i expect the stocks that have led us from the bottom, the biggest contributors from the advance from the bottom will be the ones that keep us headed higher. again, think about this. let's see, a financial, a manufacturer, a retailer, an entertainment play and diversified industrial, it just doesn't get any better than that. mario in new york, mario? >> caller: a long isla

. >> remember this dire warning on this program from boom, doom and gloom report publisher marc faber. >> i'm sorry to say, maria, you don't own any gold because you are in great danger because you don't own any gold. >> gold, however, is on track for its largest weekly decline in nearly eight months and we'll tell you why, coming up next. >> i guess i wasn't in such danger. >> and who better to talk to about the outlook for gold prices than the head of one of the largest's gold producers. gold corp's show will join us next on the "closing bell." 2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#:

. >>> i'm melissa lee, with carl quint a nil quintanilla and david faber. jim cramer has the week off. take a look at the picture in europe, the focus on the g-20 meeting and g-7 statements, saying they stand by market determined exchange rates. we saw a bit higher to the euro, above 134 this morning. japan's nikkei surging nearly 2%. the markets in china and hong kong are closed for a second straight day in observance of the chinese lunar new year. apple, in just about 1 hour 15 minutes, ceo tim cook takes the stage at the goldman tech conference. he will unveil a dividend increase or buyback. will he reveal anything about the product pipeline. we're on the ground in san fran. >>> the president set to deliver the state of the union address tonight. will he strike a conciliatory tone or push for more tax hikes. and why will tim cook be sitting next to the first lady. >>> europe, once again, the laggard with a decline in both volumes and sales. >>> what a quarter for michael kors. blew out earnings, posted a whopping 41% comp in north america. >>> we begin,

here yes seeds this magic that was affected between nigeria and we just a waste two years ago has faber's massively which is a ways off from pot but the fact is that it is true that. the leadership of these holding is mostly pretty spaced and they have been unable to to to find a compromise with the spanish were forced by land them but that's the way to east with we have seen last year was mostly sick tory of protests health care or education workers etc now we're seeing a more generalized anger of the system not just of the government but of the whole political system and this has to do with with this kind those of corruption which are now very prominent in the spanish media people are very angry about that and we see actually something very new in spain a very wide and deep throat test and that it goes far beyond a state see all the problems caused by this that. well that's all for me but to bring military my colleague will be here next hour to get you up to the van we continue our exploration into what goes on behind the scenes of european politics not in the brussels business that's w

david faber talking about how this was a very new deal. he said his friend jorge paulo came to him and started talking about this. they were on a plane ride together. that's when they first brought it up in early december. he's had a file on heinz back to 1 1980. this is one of the many companies he thinks about all the time. when the right opportunity came olong, that's when they were able to pounce and jump in. buffett said at the end of 2012, berkshire had about $47 billion in cash on hand. he says he always wants to keep $20 billion around. this deal is $12 to $13 billion he's putting in. that still leaves him with $15 billion and counting that he can still look for acquisitions. always talks about how he's on the hunt for the next big elephant. this one of those situations. the cash builds from month to month, so the gun is always getting reloaded. just because they are doing this big deal doesn't mean they aren't always looking for another deal to come along. when we were on the phone with buffett, we got a chance to talk about a few

the a man so renowned for his deal savvy, my college, david faber on "squawk on the street" call him the smartest man he ever met. after i had taken a minute of umbridge b i found myself concurring. he is paying mid 40, nts waiting for the dip. mid 40s, possibly 47, 48. david didn't know the exact price. in a total aforemation, europe, it is a european cable company. how do i know about his snbs he doesn't care there is no pullback, he is ready to shell out $12 billion to get it done. the three titans say, they are not walking away from the weakness. they are taking the plunge. here is the bottom line. when the richest men in the world are buying everyone a drink, buy, buy, buy. should we sit back and pass on the weakness that market periodically gives you? take the plunge when they plunge. virgin media said, don't bother waiting before you pull the trigger. martin in california. >> caller: i thought the run was over, it hit where most analysts predicted it would reach. right now, a favorable debt restructuring, and mar cato management, a fund that owns 5%, is urging them to offer di

channels.barry faber 40: 40:19 there are kids -3 channnls you're paying a lot of money foo.ch it you''e still payyng ffr it. f yu're not interested in fox or cnn, their rrtings are far lower 3 that bring local news every day,,you're still forred to pay for that.((nats of -3 sportscenter opening))) inn largest chunk of your monthly - t-v bill went to espn. snl kagan issa company that traccs and 18 cents of every monthly cable and satellittebill went to the espn networks. also & toppiig the list... 3-net... & it's a group of 3-d channels... that costteach 3 t-n-t... gets a dollar and 18 - cenns. but the averageelocaa t-v broodcaster.... gets justt 33-cenns. in ome markets... local nnws is viewwd by three and a half times heenumber of people watccing cable... bt local broadcastees on average ooly -3 gee 7-percent oofwhat caale pnetworks reeeive. that's whyy sinclair brradcast grrup.. which oons this station.. is neggtiating a new contract with directvv.. whhch gives them the right to broadcast our signal. 45:20 we realize & this ii inconvenient.. we apologizeefor ii. we hope pe

. >> live at the new york stock exchange, faber is off today.utures are tipping a bit higher here. we've not had a losing week so far this year. germany is up on the back of a good zew numbers. our road map begins with a holiday shortened week. but plenty of earnings and data. back and raring to go. >> oh, is he. and a highlight this week will be earnings from walmart. february sales are a disaster. could it be because of gas prices which have climbed for 32 days straight? >> office max and office depot in advanced merger discussions in an all-stock deal that could be announced this week. what could that mean to this year's m&a trend? >> and best buy is trying to kill the practice of showrooming by matching the prices of rivals both on and off line. but, of course, we start off with the market futures pointing to a higher open as the s&p 500 goes for an eighth straight week of gains. it is the first time since 1967 that the s&p has opened the year with seven straight weeks of gains. the nasdaq reaching a fresh 12-year high. it's highest level, i

i'm melissa lee, with carl quintanilla and david faber. we're closing in on 14,000. a leg higher in futures just moments ago. the dow looking at 112 points at the open. the s&p 500 looking at about 11 at the open. of course, this is after the best month for january, since january of 1987. as for the picture over in europe, taking the lead from here in the united states in terms of gains, we do see the cap up by 1.3%, and the dax in germany up .6 of 1%. in asia, the real star is the nikkei, embarking on 12-week winning streak with the yen weakening down to 92 versus the u.s. dollar. of course, the road map here starts with the all-important jobs report. and the dow nearing 14,000. the u.s. adding 157,000 jobs in january with the unemployment rate ticking up to 7.9%, despite the partisan nonpayroll jobs. a large part of the jobs coming in the final months of the year. >> we want to take a closer look at what the jobs number says about the economy and mashlgs. art is here. happy friday t. is a happy friday to some degree, joe. your take not just on the month, but on som

faber. >> interesting.hey're so heavy in some positions amongst themselves. >> you made the great point, the overall performance lagging the s&p, not beating the closet index but those very important long positions where they take the bulk of the alpha generation, significantly outperforming. >>> macy's and jcpenney continuing in their head-to-head battle in the manhattan courtroom over the legal rights to sell martha stewart brand a and products. courtney reagan is outside the courthouse. >> reporter: good morning. right now it is really a battle of two retailers, the domestic diva and the combination of those ensuing powerful personalities playing out in the new york state supreme court behind me. macy's ceo is right now testifying for macy's. this is the plaintiff in the case against jcpenney and martha stewart. this follows a videotaped deposition of a former executive vice president from penny's that it appears macy's used to establish the fact that martha stewart living's financial situation in the fa

high yes see these magic that was affected between nigeria and we just say it was two years ago has faber'smassively reduced a ways off from tough but the fact is that it is true that. the leadership of these holding is mostly rechy space and they have been unable to you see you soon find a compromise we despise west force and land them but that's the way to use with we have seen last year was mostly security of protests health care or of education what is essential now is seeing a more generalized of the system not just of the government but of the whole political system and this has to do with the discount most of corruption which i'm now of very prominent in the spanish media people are very angry about that and what we've seen is so actually something very new spain very wide and deep protest that it goes far beyond a stage you know all the problems cause. now is take a look at some international news i'm sorry for you this hour in northern nigeria a security guard has been shot and killed and seven foreign workers have been kidnapped when militants at. back to construction site among t

let's go to david faber on the story. >> i want to make sure people understand.is the department of justice. not attorneys general in the states here. it is an unprecedented action by the federal government that seems to be about to take place. specifically against s&p. no other rating agency is involved here as far as at least i'm aware from my own reporting. it would be the doj filing a case in the state of california against s&p essentially alleging fraud. when it rated 30 separate cdos in the first half of 2007 and rated those cdos as aaa. it would be a civil case although they would be using criminal statutes. they would be prosecuting under the afria act passed in 1989 to deal with the outcome of the snl crisis. but has been revived recently by prosecutors in the cases they brought and settlements they have gotten from some of the big bank bs in mortgage related matters. but here we are many years past the credit crisis. and it does appear that finally s&p is in the sights of federal prosecutors. but not moody's. kind of an interesting question. and one at

on "squawk on the street" with our own david faber. also, web m.d.r loss on the revenue and guidance higher than the street expected. shares climbed sharply in after-hours trading. the company was hurt, however, by restructuring charges and declining ad sales. we're going to be watching shares of nordstrom. the high end department store operator posting a 40% rise in fourth quarter earnings, but its full-year outlook was disappointing and shares were down in after-hours trading. so keep an eye on that one. then also making headlines today, story that joe really loves. president obama, holding a white house open data day hack-a-thon. today. joe had a different view of what a hack-a-thon was in the white house. but we'll bring -- >> bringing back gibbs and axelrod, and -- >> colleagues of yours. >> colleagues of yours. okay. we're going to continue on. the administration is inviting developers and tech experts to come share some ideas, hack-a-thons are common in the tech industry with the goal to figuring out creative solutions to problems you may reme

here's what the attorney for standard & poor's floyd abrams told david faber on cnbc earlier today. >ink anyone knows. is it true that after the downgrade the intensity of the investigation significantly increased? yeah. i'm sure the government would say that it had nothing to do with it. we don't know why. >> but it did increase after the downgrade. >> yeah. >> but you don't though wt tho'. >> how could i? >> eric holder addressed that at his press conference today. >> they did what they did assessing what the credit wor y tth worthyness was of this nation. we looked at the facts, the law, the investigation that the great prosecutors and civil lawyers put together and made a determination that the filing of these lawsuits was appropriate. but they are not in any way connected. >> joining us on the phone is tom curran. let's welcome back our distinguished panel. tom, welcome. just in general, how do you see this case and was s&p giving good credit ratings on the outside to the public while badmouthing the issues on the inside? that's a key issue. >> well, i think that mr. abrams and s

david faber reported the government wanted a billion dollars and an admission of guilt to make the case go away. s&p says it's without merit and the government is trying to use 20-20 hindsight to go after good faith conduct. the feds along with six states and the district of columbia say they have plenty of evidence to the contrary and that leaves both sides lokcked in $5 billio test of wills. >> thank you. with well-known and well deserved criticism of ratings firms and the fact we do need pairs of outside eyes to help value debt, this leads to us one very big, very simple question why don't we have a better way. let us bring in rapid ralgts international chairman and ceo. these firms were slaughtered, right, in public opinion, the media, whatever, for five, six years after the crisis but they are still pretty much all we've got. >> business as usual. despite dodd/frank and regulatory initiatives and legislative initiatives we're finding ourselves in a market familiar and continuing on its merry way. s&p, mood yzerman and fitch, nras, sros, rating agencies, so embedded in the financial

david faber reporting that a deal is on track for next week. netflix continuing its ride higher.stocks once again out performing applied materials, leading the pack higher. back to you. >> thanks, seema. and the stock market isn't the only market that that's reallying today. we have seen big moves on gold. sharon epperson fills us in at the nymax. >> oil and equities have been highly correlated. much more so than in 2007. the last time the dow hit 14,000, that's part of the factor that is contributing to the gains we are seeing here in the oil complex. but we have seen an even greater gain. up more than a dollar in this session and of course the blast at u.s. embassy in turkey, that is a factor that raising the tensions and chris many premium in the marketplace. add it that explosion at head quarters in mexico city, that's another factor that traders are launching. we haven't seen significant gains in the u.s. oil price because we have pipeline concerns that pipeline taking crews from oklahoma to texas coast. that probably won't be a full capacity until the fourth quarter. that i

i want to tell viewers that our david faber will interview meg whitman in an hour from now. higher today after stocks fell for a second straight day. however, we did close the day off the lows at the very least so things weren't as bad as could have been expected. however, we had disappointing data for manufacturing in both europe and the u.s. the dow posted its worst two-day drop of the year. broader s&p index set for its first weekly loss in the past eight weeks. no economic data today. earnings from abercrombie & fitch will steer the markets. dow fell nearly 47 points and will open trade today at 13,880. nasdaq fell to 3131. futures are higher going into the opening bell. >> we'll watch for that whitman interview. looking ahead to next week, apple holds its shareholders meeting and one shareholder in particular wants your attention. david einhorn held a strategy meeting thursday trying to rally other shareholders into pressuring apple to create a special class of stock which would pay out a permanent dividend. apple has $100 billion or more in cash it's not using. compani

hpq really took off after my buddy david faber grilled the ceo meg whitman and she acquitted herselfight in front of our eyes very well making me and no doubt you feel that she should be bet with and not against as she tries to turn around this american icon of a tech company, which did see its stock fall more than 40% last year. i bet the stock of johnson & johnson? company delivers a subpar quarter and continues to get lots of love from wall street including me. remember i liked that new ceo so much. but i did think for sure that when j&j disclosed not one but two government probes into possible false claims related to hip devices and surgical masks and they just did this, i thought the stock would be hammered. instead this company which seems to be in the recall business barely skipped a beat and is down less than a -- i mean, i've got to tell you, talk about bulletproof. j&j is about as bulletproof as they come. down a penny in the last trade. one more hideous article today calling the very fabric of the company into question. it was like wow, boeing, what a bunch of bozos. but t

. >> we were talking to david faber earlier today.stock is having its best day in more than four years. let's bring in pc magazine's editor in chief, dan costa. we have done many segments here on "street signs," like death of the pc. and will this play out this bat snell. >> the pc index is shrinking. it will probably continue to contract. we are talking about traditional desk tops and lap tops. but it is still a good business. they are not going away. hp is the market leader. they are going on the offense and taking advantage of uncertainty that dell is going through right now. >> do you think secretly dell and hp want to be out of the pc business and be more into market services? >> it is no secret. they tried to do that last year. and went off course. dell tried it that too. but the software margin is in the software part. at the same time, pc is a nice way of serving and driving sales. >> who is buying pcs, emerging markets or corporations? like here in the newsroom, everyone has a pc on their desk. >> everyone has a pc. but the s

i think you were on, david faber had a great interview and it's -- well, it's a frivolous lawsuit.-- i don't -- there's nothing there. other than the government wanted to take a pot shot at somebody. it's interesting, though -- >> are you in the conspiracy theorist camp? you don't think the government is smacking down -- >> well, sort of. there are other people out there. not just s&p, right? >> s&p is the only one that downgraded the u.s. and now we're on watch negative, bias and -- >> so, you are making your argument -- >> i'm not asking, because you are a conspiracy theorist kind of guy. >> it typically trades five or six. you know, what's interesting in this stock, not a big short interest. maybe shorts poured in today. i think it gets 42, which is the low we saw back in july. >> all right. from mobile devices to medical marijuana, we have you covered in the west coast wrap. jane wells joins us. jane? >> melissa, dude, you're getting an lbo. michael dell, taking his company private to try to bring back these glory days. watch. >> dude, you're getting a dell. >> that was stephen

david faber is inside h-p today with information no one else will have. we'll be here and will have the numbers as soon as they are released at the top of the hour. >> which could set the tone for tomorrow. aig reporting after the bell. we talk with robert benmoschy after the company reports. his company in the top position in hedge funds, topping apple. we'll ask him about that and a lot more. >> down day continued the slide from yesterday afternoon and continued first thing this morning. overnight asia down hard and this morning europe down hard and it continued in the u.s. this morning. down 56, cutting the declines in half to 13,870 on the dow. the nasdaq down 35 pints. hardest hit again today, down 1.3% at 3128. just read the numbers, bill, and the s&p right now down ten points at 1501. let's get straight to the markets and what these moves mean for your money. in today's closing bell exchange rob mciver from jensen investment management and david steinberg from dls and brian beleskey from bmo capital markets, and our very own rick santelli. mr. bele

faber's got more on this deal that you said would happen. said that yesterday, in fact. >> it ended up not being quite $50 a share. there are holders of media out there that may be disappointed in the price. that price could change today, because, of course, this is a cash and stock deal. and in typical john malone fashion, it's not just stock, it's actually two separate stocks. you're getting "a" and "c" or what we call "k." it gets complicates. we're going to keep a close eye on those liberty shares. because this deal is cash flow, right from the get-go. depending on what analyst you're following or what your assumptions are on buybacks or what the synergies are. could be as much as 18% to 25% cash flow accretive. that could be a positive. the currency used for part of the consideration may go up, hence the value may go up. it's going to be important. we've got some big shareholders in there. unclear whether they'll mount any sort of defense to this deal and say we want more. but something to watch closely. as for the deal itself, the bigg

faber, thanks a lot. dagen: just a few hours after he wrapped up his date of the union address. president obama is heading the road to push his agenda. here to tell us what he thought about the speech is a republican congressman of the beautiful state of montana. name one thing that president obama talked about last night that you will get behind, well, almost 100%, but that you are in favor of. >> i think his comment of trying to push for some sort of immigration reform, if needed. both sides are talking about it. i come from 28 years in the private sector. i have a little difference of a resume than other folks here. i was very concerned with reckless spending. i do not see a lot of subsidized policy. dagen: the plans that he outlined, we just got word that they presented a proposal for the energy securityrust. >> i would have liked to hear him say something like, for example, how about improving the keystone pipeline. that creates jobs, that creates tax revenues without raising anything. dagen: he did talk about tax reform. we have to look at how we become were competitive in

i'm carl equipment a nil la with melissa lee, david faber here at the nyse. david cramer is off this week. a busy week it's going to be. europe this week, finance minister meeting from all of the eurozone talking about cypress and greece. as for asian markets, mostly closed as the chinese new year took place over the weekend. it is the year of the snake. our road map begins with a hat trick of news out of technology. dell shareholders balking at the buyout price. and apple testing a watch-like device. >> the s&p 500 is up for the first six weeks of the year. something that has not happened since 1971. a big week is ahead as carl mentioned with earnings from coke, cisco, gm, whole foods and michael kors. >> nemo, watch the impact on business, ford at least said it should not have a major impact on february sales. >> the world is reacting to pope benedict's announcement that he will step down at the end of the month citing his advanced age. he's the first pope to resign in almost six centuries. >>> dell defends the buyout in an s.e.c. filing. they said the deal

i'm melissa lee, along with carl quintanilla and david faber. jim cramer is off this week. today we've got treasury secretary nominee jack lew heading to capitol hill. let's check on where we stand in terms of u.s. futures. it looks like we'll be building off of multi-year highs here in the u.s. the picture in europe, again, the sort of anti-race to the base movement going on. the euro is moving higher this morning. we see green arrows across the board. overnight in asia, japan's nikkei down by about a percent here. on heavy volume. the yen gaining there. our road map starts in washington, d.c. the president unveiling an ambitious agenda. he also called for billions to rebuild the nation's infrastructure. >> the dow is back above 14,000. only 1% away from an all-time interday high. the s&p also near its highest levels since november of 2007. what could help markets today? better than expected earnings from deere and gains by general electric and comcast. >> those big gains because of a big deal. comcast agreeing to buy general electric's stakes. in the mean time, let's send

david faber is off. signs of reemerging political turmoil, both in spain, and in italy making investors a little bit reluctant to press the button for the upside. it comes after the dow did top 14,000 on friday for the first time in more than five years. look at europe, that's where the story's going to be for most of the morning before we close at 11:30 eastern time. germany taking it down 1,100 points as well. asia got action as well as china. nonmanufacturing came in better than expected. clearly the story is going to be in europe for most of the morning. >> we've certainly seen a flight to safety take place this morning, as we've seen the bond yields, particularly the spanish 10-year bond yields blowing out overnight. we're seeing bids higher today. german bonds also higher. the 10-year yield in the united states, back below 2% at this point. >> we're nowhere near the yields that we saw at the end of 2011, of course. and that we dealt with so often in the second quarter of last year, in terms of the

i'm carl quintanilla, melissa lee, jim cramer, david faber. we begin 89 points from the all-time closing high. just this side of positive and chicago pmi on the way. europe has gains this morning. tokyo rebounded along with the rest of asia. china pmi is out tonight. >> our road map this morning starts with what could be a record-setting day. as carl mentioned, the dow just 89 points away from its all-time high, sit a day away from the potential sequester cuts kicking n >> the bleeding continues at jc penney. sales down a whopping 28% from the holiday quarter. how much time does ron johnson have to turn things around in the stock down 40% since they took over? >> speak of bloodbaths, group reason shares taking a dive on its much, much wider quarterly loss. analysts not betting on the company being able to outage zohn amazon on its new strat joif selling goods. >>> we begin with the dow taking aim at record territory after a second consecutive triple digit gape. the blue chips now less than 20 points from their all-time closing high setback on

of cases where the re really is evidence and where either a settlement or verdict in their party's faberl be fair, because of the economic realities of their practices. these threats of widespread lawsuits, i just think that it is a straw man. it's a great argument because everybody loves to raise the specter of a trial attorney. but in terms of the employment bar, these cases are only brought forward when there really is evidence. as you can see from statistics, the deck is stacked against the plaintiff. host: we are talking about hiring discrimination against the unemployed with our guest judith conti. she's a federal advocacy coordinator. >> the national employment law project has been around 43 years. we are non-profit, non-partisan organization that advocates on behalf of low-wage and unemployed workers. we want to make sure that people who work for a living have a fair shot of rising up the ladder of economic opportunity and becoming part of the secure middle class. we advocate for the unemployed to make sure they have safety nets while looking for jobs, that there is adequate and

i don't know, faber is sitting right next to you.s going around. >> from post 9, this is our first anniversary. so i'm thrilled to be coming to you from there. >> congratulations. >> thank you. coach is one of those stocks that it just seems to go down constantly. it is easily rumored up. people will be able to say it's louis vuitton. this market has been so crazy, i think someone -- i think it's easy to rumor a stock up or down. i don't put too much credence with it. target, those comp sales were so bad versus walmart. dollar tree literally does not disappoint. therefore, it goes higher. operating margins going up. people thought they would be down. it's a very mixed picture this morning. >> what else do you like this morning? >> well, merrill lynch raises google's value. bingo, they say google's a lot more than we thought, because of the multiple expansion. i don't like multiple expansion, i like real earnings. apple, fren et iks won a big judgment in texas, $3 million plus judgment against apple. i'm watching that because it's a c

jim cramer and david faber joining us now.kstage earlier, 7:30 we were going to get a press release. we've been talking to people during the show all morning about the work they seem to be doing on this, yet no deal yet. what do you know? >> i'm with you, as is often the case, andrew. i'll make a prediction. we'll get a press release next 10, 15 minutes. >> they're going on "squawk on the street" time, not "squawk" time. >> there is an opening bell, maybe they're aware of that, i don't know. i think we'll get the dell deal momentarily. let's not forget the potentially huge deal, and i'm also hearing a report more on "squawk on the street," this could get announced as soon as today. >> this is a huge deal. you're starting to come back to the world that maybe this is 2013 is the deal year. >> it might be. i can tell you just having known a bit about what's gone on here, they've been talking off and on since the summer. but it would be a very large deal. $10 billion equity value. they have a lot of debt. keep an eye on vmed. we'l

faber is off today. bernanke's on the hill again. durables were a miss.he cap x component was a blowout, the highest in a year. italy had a not bad ten-year auction. nikkei had a second straight day of loss, but otherwise mild gains in asia. >>> the day after the second triple-digit gain in three sessions, helped by the fed chairman's assurances that the qe is here to stay. he continues the second day of testimony at 10:00. we'll that live. >>> the agenda may look like a snoozer, but will shareholders demand answers of what apple will do with the cash. >>> target shares trading lower premarket. confusion on whether to include or back out the cost to launch in canada. >>> priceline shares soaring with revenue growth better than expected in latin america and asia, and resilience in europe. >> wow. >> believe it or not. >>> we begin with a big question, where are the markets headed next after the 216-point drop. the rally coming after fed chairman ben bernanke told a senate panel he supports continuing the bond buying program. bernanke returns to capitol hil

faber gave me an old press release from march of 2010 when you sued moody's and standard & poor's fortings to risky investmented backed by subprime loans. why is justice only going after standard & poor's? why is moody's out of this, at least for now? >> the mystery to me is that the department of justice selected only s&p and took so long to bring this lawsuit, as you very aptly have just stated. the state of connecticut, when i was attorney general, sued the ratings agencies for many of the same kinds of abuses that we alleged brought this nation to its knees economically, crippled employment, virtually devastated the company, they were the enablers. their actions were essential to the inflated ratings that led people to buy these mortgage-backed securities. so they knowingly participated in the abuses that eventually led to the economic catastrophe in this country. and the mystery to me is exactly as you have asked, why did they not sue the others and why did it take so long? >> do you believe that moody's eventually will be included and do you think the selection of a first amendm

i'm melissa lee, with carl quintanilla, jim cramer and david faber at post 9 here at the new york stock exchange. the day after we broke a lot of records for the u.s. markets, we're looking at an update for the dow. the s&p looking to give back just a little bit, along with the nasdaq. as for the picture over in europe, some comments from germans chancellor angela merkel about the euro saying between 130 and 140 for the u.s. dollar is normal. those are the comments being focused on this morning. a mixed bag in terms of europe and take a look at the picture in asia. the nikkei, the one to focus on, closing at a 4 1/2-year high in yesterday's session. >> fresh five-years for the s&p and dow, fresh 12 years for the nasdaq, helped in part by a renewed appetite for deal making. >> cracks in the housing picture this morning, january starts to decline 8 1/2%. toll brother earnings sharply miss earnings. >> could demand for the iphone be cooling? fox con pressuring shares this morning. >>> the rally continuing with the dow and s&p having their best day in two weeks. nasdaq closing at 12-year hi