there's a huge drought in farmville this is a game by. which is a company we've talked about on this show with guests like josh brown the reformed broker or reggie middleton who discussed openly that this was vaporware it's a vaporous company run by vacuous c.e.o. within the realm of a nonexistent business model trading virtual currencies that only had a one way to go as a public offering and that straight into receivership straight into the zero length of goose egg shell but not without the insiders cashing out along the way that make those digression that whether at zynga facebook group on the insiders have been cashing out in this classic pump and dump scam but they were aided and abetted by c. and b. c. and barack obama remember he had zuckerberg in his office with his arm around him a zoc how about some shares on that i.p.o. now down fifty percent in the old days it all just. broker stacey the nineteen eighties this was the chop shop the bucket shop the d.h. blair's lehman brothers even they got really down and dirty with these i.p.o

the worst news came late in the day from zynga, the maker of the popular farmville game badly missed earnings estimates. zynga plunged as much as 40% after hours. >>> investors fear ripples from facebook. the social network which get 15/% of its investment from farmville. >>> yesterday the bad news came from apple. they weighed down tech stocks as apple shares fell 4%. but despite apple's big stumble, big chips from blue chips. it helped keep the dow out of the red on the same day the plane maker announced an $11 billion purchase from mexico. >>> housing stocks were among the day's worst performers on news june drop in single-family home sales was the biggest in more than a year. today new data shows urban foreclosures were up in the first half of 2012. >>> radio shack hit an all-time low, spiraling 29% thanks to an unexpected earnings loss which forced the retailer to suspend its shareholder dividend. >>> elsewhere ford reported better than expected profit but roughly doubled its losses in europe sending shares down 1%. >>> and, finally, a so-called big foot aficionado who claims he

the maker of the popular farmville game slashed its 2012 outlook and badly missed earnings estimates. zynga plunged as much as 40% after hours. >>> investors now fear a ripple effect for facebook when it delivers its first earnings report today. the social network, which gets 15/% of its revenue from farmville, hit a new low in late trade. >>> yesterday the bad news came from apple. the company's rare earnings stumble weighed down tech stocks as apple shares fell 4%. but despite apple's big stumble, impressive earnings from caterpillar spelled good news for big chips. likewise, better than expected earnings from boeing also helped keep the dow out of the red. on the same day the plane maker announced an $11 billion purchase from aeromexico. >>> housing stocks were among the day's worst performers on news june's drop in single-family home sales was the biggest in more than a year. today new data shows urban foreclosures were up in the first half of 2012. >>> radio shack hit an all-time low, spiraling 29% thanks to an unexpected earnings loss, which forced the retailer to suspend its sh

from zynga the company lost nearly 23 million dollars in the second quarter analysts say citiville, farmville and other games aren't attracting as many paying players as they expected. zynga gets all revenue from games made on facebook. >> the jackson family feud takes another bizarre twist. katherine jackson speaks for the first time after losing temporary custody of her son michael's three children. the new questions she is now raising. >>> ebay has a plan to target younger >>> in washington the house has just passed a resolution condemning the mass theater shooting in colorado. a notebook believed to have been written by the suspect and mailed to the university of colorado believed to contain full details about how he was going to kill people. three hospitals will limit or completely cover the victims' medical bills. the congressman who represents aurora, colorado spoke this morning. >> aurora will never be the same after this horrific act of he occurred last week. the citizens are caring and resilient. >> warner brothers is pushing back the release of its movie "gangster squad" to january

from zynga the company lost nearly 23 million dollars in the second quarter analysts say citiville, farmville and other games aren't attracting as many paying players as they expected. zynga gets all revenue from games made on facebook. >> the jackson family feud takes another bizarre twist. katherine jackson speaks for the first time after losing temporary custody of her son michael's three children. the new questions she is now raising. >>> ebay has a plan to target younger consumers. >>> in washington the house has just passed a resolution condemning the mass theater shooting in colorado. a notebook believed to have been written by the suspect and mailed to the university of colorado believed to contain full details about how he was going to kill people. three hospitals will limit or completely cover the victims' medical bills. the congressman who represents aurora, colorado spoke this morning. >> aurora will never be the same after this horrific act of he occurred last week. the citizens are caring and resilient. >> warner brothers is pushing back the release of its movie "gangster squad"

. >> is it time to foreclosure on farmville? shares of zynga plunged to an all time low as the game maker reports disappointing numbers and slashed its full year outlook. >>> you are watching "worldwide exchange." thanks for tuning in this morning. let's take a look at how u.s. futures are pointing as we draw closer to the open. we have red arrows behind me although the losses are huge. dow jones industrial average is pointed lower by about 10 or 15 points. the nasdaq pointed lower by nine or ten and s&p 500 a couple of points to the down side as well. let's take a look at what's happening across the globe. the ftse 100 is .1%. the xetra dax down almost 1%. the ibex 35 in spain is adding .4% to its string of losses. >> spanish debt, were a little bit lower than we were during the height earlier in the week. the two year which is 97%, 6.3%. not inverted at the moment across the curve although the five, sevens and tens same yields. the high we hit this week, were lower than that. basically we're still well over 7%. farce the rest

many of its games like farmville run on facebook and earn money for the social network and has it worried> the man who created one of in the biggest banks of all is now having second thoughts. sandy while says it's time to break up the big banks. separating those that take deposits and make loans to those that deal with bigger financial issues. citigroup had no response to his comments. >>> a popular fast food chain is in something of a pickle over gay rights. supporters and opponents of same-sex marriage are planning demonstrations at chick-fil-a restaurants next week. earlier this month, the company's president said he does not support gay marriage. the restaurants say they do not discriminate on the basis of customers' sexual orientation. >>> do not look for a lady gaga doll that sings anytime soon. a toy company is suing lady gaga saying she backed out of a deal for a doll. the doll would have featured some of her outrageous costumes. the company, which also makes the popular bratz dolls, is seeking 10 million bucks in damages. >> i can only imagine my daughter asking, why does this d

after hours trading following a disappointing earnings report from the maker of online games such as farmvillend words with friends lost nearly $23 million last quarter. facebook relies on zynga for about 12% of its revenue. >>> stocks on wall street from mixed. the dow broke a three-day skid gaining 58 points while the nasdaq was down 8. >>> a new report out this morning by realty trac finds california is the king of foreclosures. the golden state is home to 7 of the top 10 metro areas with the highest rates of new foreclosures. meanwhile, the commerce department says americans are buying fewer new homes. sales of new homes in june fell more than 8% from may. that is the biggest month-to-month drop in nearly a year and a half. >>> a warning to investors in pharmaceuticals. fitch rating service expects fewer drugs to be approved by the fda this year. fitch blames the slowdown on fewer experimental drugs entering late-stage testing and disappointing test results on other medications. >>> ben bernanke may have to open the federal reserve's books. the house voted yesterday on a bill that would gi

. >>> he was an aspiring rapper who killed his girlfriend, her parents and her friend in farmville, virginia 2009. tonight we're learning pictures and writings from richard sam yell mccroskey are being sold on murder memorabilia websites. virginia has a law in the books preventing criminals from profiting on their crimes, but no law preventing third parties from selling their stuff. >>> automated cameras throughout virginia snapped photos of your license plate as you drive by. tonight there are concerns raised by the aclu those pictures are compromising your privacy. the american civil liberties union of virginia sent letters to area law enforcement. they claim the readers track drivers information and store it forever. >>> a few storms out there earlier today. meteorologist topper shutt joins us from the weather terrace. how are we looking for the morning commute? >> i think it will be all quiet. only 89 today. we dipped under 90. that's a victory. current temps, very pleasant. in the 70s. downtown upper 70s. 73 in gaithersburg. low 70s in frederick. really pretty nice this time of night an

zynga makes the farmville and words with friends games. however, the decline of its existing online games has been picking up. while shares were up 3.3% in anticipation of tonight's results, they closed at about half their initial public offering price last year. after cutting its outlook tonight, shares dropped 35% in after hours action, trading around $3.25 per share. much of zynga's business comes through facebook, and zynga's warning hit facebook shares. after closing over $29 today, facebook fell to around $27 in after hours trading. facebook reports its quarterly results tomorrow. social media is getting credit for helping j.c. penney today. this tweet, "i'm at j-c penney, thank you ron johnson for the walk through of j.c.p.'s prototype. get ready to shop! it's going to be a game changer." it came, not from a wall street analyst, but from nina garcia. she is a judge on the tv show "project runaway." the tweet is getting credit for helping j.c.p. shares jump 4.7% today. the company has been trying to turnaround its image and reduce it

delivers its first earnings report today, the social network, which gets 15% of its revenue from farmvillehit a new low in late trade. yesterday the bad news came from apple. the company's rare earnings stumble weighed down text stocks as apple shares fell 4%. but despite apple's big stumble, earnings and the impressive earnings from caterpillar spelled good news from blue chips. like wise, better than expected earnings from boeing helped keep the dow of the red. on the same day, the plane maker announced an $11 billion purchase from aero mexico. housing stocks were among the day's worst performers. june's drop in home sales was the biggest in more than a year. today, new data shows urban foreclosures were up in the first half of 2012. radio shack hid an all-time low, spiraling 29% thanks to an unexpected earnings loss which forced the retailer to suspend its shareholder dividend. elsewhere, ford reported better than expected profit but roughly doubled its loss in europe. finally, a so called big foot aficionado who claims he had an encount we are the real one 35 years ago is selling an ei

. >> the claim is based on farmville subsidies to include yents in so called junk foods. >> there is $18.2 billion taxpayer dollars have subsidized the ingredients since 1995. >> farm bill subsidies over 17 years. and there is the senate version ends direct payment and expands federal crop insurrance program. what does that have to do with twinkies? telling me the main objection is to that crop insurance. >> taxpayers are subsidizing crop insurance. >> nancy pelosi's office tells me she supports the senate version and the insurance is a tiny portion kplaired to the bulk of the spending. the senate version cuts $4 billion from food stamps. their republican-led house proposal could cut $16 billion its not going to be a good thing for us right now. >> so this is very needed. >> this will be like malnutrition. >> yes. >> when they left the crop on the table, you knew this is bound to happen. and if congress turns it back, current funding runs out at the end of september. 45 million americans receive food stamps one out of every seven. the husband has mer than a week before it's august re

they worried facebook investors as well and because the social network gets more than 12% including farmville. it issues its first ever report facebook after the closing bell. zing is down and it is almost 40%. >>> some are getting rid of the red light cameras. they are preventing horrible crashes but some say the cameras are just not worth it. >>> you can expect to see a hike in food prices and we will let you know the increase you will have to budget for. >>> you can get news to go, download the news icon and get it right on your smart phone, you can be connected any time anywhere. and hot, hearty sub. like the toasty big hot pastrami melt. get to your local subway for some dinnertime deliciousness tonight. subway. eat fresh. . >>> it is a cooler morning, mainly 60s and 70s. >>> well the drought could hit home with higher food prices for us. the u.s. department of agriculture says americans with reach a high of 4%. beef price also see the highest at 4 to 5% and the big news is that prices for fruits and vegetables will not be affected this much. >>> a teen affected in a solo crash, it happe

the company makes farmville, and other games. the stock dropped 38% in after hours trading. >>> facebook reports its earnings tomorrow for the first time, and zynga's problems will likely have an impact. facebook's earnings report comes after tomorrow's closing bell. >>> crashes like this one led to red light cameras. ktvu investigates why some cities are now pulling the plug on those cameras. >> a new strategy to stop prostitution in san jose, who's city attorneys >>> highway patrol officers in the east bay are on high alert after someone opened fire in a car full of children yesterday. one victim says she still has nightmares about it. >> reporter: the victims of last night's freeway shooting managed to pull into this gas station just off the willow road exit here in hercules. law enforcement officers are telling us they may have been targeted. police say this white pontiac was traveling on east 80 when someone shot at it last night around 10:40. the male driver and female passenger suffered gunshot wounds, but are expected to

the company makes farmville, and other games. the stock dropped 38% in after hours trading. >>> facebook reports its earnings tomorrow for the first time, and zynga's problems will likely have an impact. facebook's earnings report comes after tomorrow's closing bell. >>> crashes like this one led to red light cameras. ktvu investigates why some cities are now pulling the plug on those cameras. >> a new strategy to stop prostitution in san jose, who's city attorneys are taken to court. >> a freeway shooting just missed for children. the stretch of bay area freeway that's getting a reputation for flying bullets. >>> highway patrol officers in the east bay are on high alert after someone opened fire in a car full of children yesterday. one victim says she still has nightmares about it. >> reporter: the victims of last night's freeway shooting managed to pull into this gas station just off the willow road exit here in hercules. law enforcement officers are telling us they may have been targeted. police say this white pontiac was trav

. >>> the maker of web video came farmville has been hit with a class action suit alleging insider trading. the suit claims executives of zynga knew the company was struggling when they sold millions of shares before announcing a substantial drop in projected earnings. last week zynga reported -- zynga shares have dropped 40%. >>> supporters of california's ban on same-sex marriage are taking their case to the u.s. supreme court. they've petitioned the high court to overrule the 9th circuit court of appeals ruling that struck down california's prop 8 ban as unconstitutional. the appellate judges issued their decision earlier this year. if the high court declines to take the case that will clear the way for same-sex marriages to resume in california. >>> time to check in with the high court of weather. >>> summer's heat continues to scorch our inland location, a little harsh term, we don't have excessive heat we have very warm weather inland in evening skies remaining clear fog will develop at the coast and perhaps move locally at the bay. wide range of temperatures mid 50s up to 80 some of

south of richmond, down around danville and farmville.y're going to continue to see thunderstorms there, and some of them will be strong to severe for them. high temperatures across the region. this is the first time in two weeks we haven't been showing you mid 90s. the hottest temperatures, state college today, only 82. mild weather to the north of this front. the heat is now down to the south. 96 was the high in atlanta. that's really it. no real 100s around the area. and a chance for some shower activity, mostly north and west around i-81. this evening, a few clouds warm and humid, but nice, 76 to about 84 degrees when you walk outside tonight, a very nice night. tomorrow morning, partly cloudy, warm and rather muggy. temperatures 67 to about 74, so tomorrow afternoon, clouds and sun, we'll see that mixture. it will be warm and humid, a few showers, temperatures 82 to about 87 degrees. now a bad summertime day here in the month of july. if you're thinking of heading down to the beaches, not bad at all. a chance of showers both tuesday

it wasn't a farm, it was farmville. the virus was the work of six estonian cybercriminals. really -- it sounds like the plot of mish impossible 8. does estonia even have computers? the fbi has been working to eradicate the virus. more than 4 million computers were affected worldwide. it was thought if people were unable to look at the internet, they'd be forced to look at pornography. fortunately, very few were affected. >> jenny from spokane, washington, posted a picture of her dog buttons wearing a bandana. and this -- ♪ >> jimmy: great job, estonia. those are "johnny carson show" curtains. did any of you see the new "spider-man" movie this weekend [ cheers and applause ] "the amazing spider-man" was the number one movie at the box office. grossed $338 million. narrowly edging out mitt romney. last weekend, a movie about a violent teddy bear was number one. it's a very good time to be 8 years old. it really is. some people complained that this new spider-man movie was too similar to the first one which how different do you expect a spider-man movie to be? he's spider-man.

it is maker of games including farmville. it's missing wall street estimates after reporting quarterly results. zynga's numbers putting facebook in the spotlight. we'll hear from that company of course today later in the day. its first report of quarterly earnings. they're expecting a larger than expected dip. they rely on zynga for 15% of their revenue. almost nothing good. >> what have i been tell you. >> too early. >> too early to buy zynga. >> is it still too early? >> yes. >> you have the so-called penguins if you'll allow me. >> citigroup, goldman, morgan stanley. >> march of the penguins. >> a neutral. >> neutral. >> what will get them to go to a sell? >> at this point what's the stock going to be? >> i don't know. i've never bought a coin on skrable. you never by any virtual goods. >> that's my secret. my 21-year-old daughter told me here's the secret to the web. never pay for anything. >> what is the cost of virtual goods sold? >> couple of bucks for a coin so you can get -- you can -- >> it raises the larger issue.

see that digital cow on the farmville game? facebook makes $1.20 every time you buy one.proof vest on mafia wars and your survival knife facebook gets a slice of those sales, too. $1.20 for your virtual protection. all of them are sold by zynga but facebook gets a 30% cut of each sale. they're part of facebook's payments business which accounts for 18% of the company's revenue. the nickels and dimes add up. facebook collected $186 million last quarter. but the main way facebook makes money is from the ads you see on the site. >> we spend several million dollars every month on facebook ads. >> design website fab.com says it had nearly 200,000 users before they even launched and 2/3 came from facebook. >> on any given day 25% of the ads are coming from facebook. >> the marketers we talked to tell us they're just not happy with the performance they're getting from facebook. >> reporter: businesses like the company pages where they can advertise their brand for free but the social network made its $872 million in ad revenue last quarter from paid ads like this. >> when you cl

. >> we were too ambitious at first with farmville and consumer hated us for us because the performanceas horrible. >> only for small screen. harder than they thought it would be. turned out simply tough and l it's tough because you have to work out what to leave out instead of what to leave in. >>reporter: one of the product designer say people have strong emotional responses to mobile app because let's face it we are attached to our smart phon phone. >> it goes in the pocket. sits next to your head when sleepin sleeping. very much part of your life. >>reporter: matthew wants his app to be part of your life too if you have an i-phone. >> p.m. it will be released in the next week or so on google. >> may the biggest headache in the mobile world. i-phone. android now window phone and none of them are compatible. but now there's new set of tools emerging that let developers write one app for all the platforms. >> i want these and get daichlts i want to do extra large this. >>reporter: shopping app built with jeff tool app and they design it once and this translates it for all the different

. >> it's farmville, right? animals.e that. >> virtual. >> virtual. >> i love those games. >> i got real chickens but not in to the virtual stuff. >> all right. final trades next on "the halftime report." the first trade route to the west, the greatest empires. then, some said, we lost our edge. well today, there's a new new york state. one that's working to attract businesses and create jobs. a place where innovation meets determination... and businesses lead the world. the new new york works for business. find out how it can work for yours at thenewny.com. looking for a better place to put your cash? here's one you may not have thought of -- fidelity. now you don't have to go to a bank to get the things you want from a bank, like no-fee atms, all over the world. free checkwriting and mobile deposits. now depositing a check is as easy as taking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into your fidelity account. open a fidelity cash management account today and discover anot

they rely on farmville creator for its revenue. a big deal.ifferent story of shares of western digital hard drive, the hard drive disk maker posting much better than expected results after the close. shares of rival seagate rising sharply on that news and akama stock jumped. shares of cheesecake factory rising. i've never been to a cheesecake factory. the restaurant chain posting higher same store sales by attracting more customer, earnings beat the streets and margins rose. company announced it has instituted a dividend so that's going to be a big deal. shutter fly results beat the street analysts say the numbers offer hope into online photo service. they can grow even as more people post that your favorite pictures on social networking services. that was the worry that facebook would somehow overtake them. visa earnings and revenue beating the street. miss quick? >> let's get back to more on facebook right now. big question is can the world's largest social networking company convince investors to like the stock? gene, do you think what we h

. >> as part of a farmville or extension? >> the president said last night that guns like ak-47s should belong and -- should not belong in the hands of children. d you agree with him now and would you be willing to be part of that conversation? >> ak-47 are not allowed to be in the hands of criminals. that is the law. if the president has proposals on the other ways we can address criminals and owning guns, i will be happy to look at them. [unintelligible] whoa, whoa, whoa, whoa. >> given the scale of issues that that country faces, have you made a personal effort to contact president obama? >> i have not. my arms are always wide open. he has not had time to meet with his jobs council in the last six months. i am not surprised that he has not had time to call me, no. >> [unintelligible] >> [unintelligible] look at all the laws we have on the books to make sure they are working as they were intending to work. that would be the most logical step forward. >> peter pelosi has written you a letter to ask a bipartisan group before

under the 2008 farmville, state action plans were required update to lending a priority areas through forest restoration. we partner with the state across boundaries for many of the state action plans are in the process of implementing them. we focus on priority treatment areas to ensure human health and safety and reduce hazardous fuel conditions. reviews tools available to agencies such as stewardship contracts and good neighbor authority to develop a more holistic treatment that accomplish multiple resource object does come in many times across jurisdictional boundaries. what the passage of the 2012 interior appropriations bill, congress provided resource authorization to implement restoration for three pilot regions in the interior wipes that the united states. irr will bring resources necessary for maintaining story under one budget i met him to do necessary work on the land. we've worked hard on improving efficiency for restoration. a couple of examples were close to issuing two new categorical exclusions for us well in water restoration activities and increasing use of landscap

care and it's also a big yvette is the markup on wednesday in the house the agricultural committee farmville, five-year farm bill. >> the retail of the health care law, is that a top priority for house republicans? >> that is the major priority. it's a bill to repeal foley the health care law also would actually already passed that last year, last january. but in light of the supreme court decision last month, they want to reaffirm at least in the public mind that they intend to repeal the entire law. >> why are they making this a top priority? >> mostly because this is the stretch run to the fall elections and also they believe it is the course points in their individual race. one is that cbo announced today, monday, that it doesn't have a scoring of the bill were the law itself as it stands based on the changes of the supreme court. so easily with republicans will do this week and they plan to debate all day tomorrow and possibly wednesday is pass the bill without knowing the case on the budget of the repeal. >> if this comes to the house floor on tuesday pacelli, house democrats say this

tweets i'd make a great investment in pork bellies until to discover they are in farmville.ke all deposits and report spouse withdrawals. lots of clever ones out there. takeaway time. rick santelli? >> i still can't get over how negative some of these swiss rates have gotten. you're looking at a minus 34 basis points on 2-year. minus 24 basis points on 3-year. slightly negative on 5-year. bund auction record low. bund currently 1.27. i continue to see this huge appetite for quality collateral. and that becomes bunds, bonds, gilts, swiss paper. you could see that. one thing i also see, we learned yesterday when 59% of the 3-year went to primary dealers, primary dealers have a belly full of treasuries. they've gotten dramatically long in the last several quarters. i think we need to pay very close attention to that. >> all right. thank you, rick santelli. gary kaminsky, capital markets editor. >> on a lighter note it was pointed out in e-mail this morning, this is the one-year anniversary of the newly relaurjed "squawk on the street." i want to say con garagelations to all. th

>> the farmville packs committee -- what are the plans for that? >> i think chairman lucas and the committee have done a lot of good work. no decisions about it coming to the floor at this point. >> will it come in july? >> no decisions at this point. >> [unintelligible] republicans have said they did not want to bring forward [unintelligible] a bill. republicans have said they are waiting for the senate act on the bill. [unintelligible] >> we're not going to make mistakes made in the past. we will not pass kate 2700-page bill that nobody ever read. one not pass a bill and then have people find out what was in it after it was passed. we believe in a common-sense approach that will make our current health care delivery system work much better. things like allow people to buy health insurance across state lines, things like ending junk lawsuits that not only drive up costs for doctors, but require doctors to call for more tests than required because they are afraid of being sued. how about allowing small companies to group together for the purposes o