gorman did incredibly well.his was the quarter everyone was hoping from each one of these firms and then they all kind of -- no one could make that much money in that end. gorman did. shot the lights out. people will like that because that's the kind of business we remember as where there's big margins, but let's not -- goldman, investment banking good, equity offerings, someone is making money, they are. m and a, goldman had a good line. everybody had something good to say. it's funny, i know i'm picking on these guys and they're not happy and e-mailing me already, anticipating, al go rhythmic mind, jpmorgan is now -- went from being the gold standard to being the copper standard, brass standard, aluminum standard. it made everybody look good. the gift that made every firm look good. everybody beat them on a line. >> everyone points to trading, down 21 at jpmorgan, up double digit at morgan stanley. >> yeah. that will be interesting to talk to mr. gorman. he has been looking for consistency in earnings, for som

i would suggest ceo of the year in your world, maybe james gorman.james gorman done differently at morgan stanley that the other bankers have not done? >> all these banks are very different. i think everyone wants to slap them into one situation, but these guys have done a great job with the wealth management, they have done a great job on the fixed-income side, but i think -- they have moved through the crisis better than other institutions, but they are a little bit smaller then these other guys. when you look at jamie dimon, jpmorgan, these guys are much bigger and much harder to move the ship around. so i think that morgan stanley is a little smaller and i give them an advantage in the situation. >> paul, if these are the guys doing it right, who is doing it wrong? you are rated by bloomberg as the number one analyst of getting be sure side of banking right. who is doing it wrong right now? >> when you look at these, i think they are all doing a pretty good job. i think once that are just too big are the ones that are struggling. they come americ

ukraine's gorman the eel and ukrainian media sign decor elements of the deal last month it planned to move ahead with the free trade agreements after presidential elections in ukraine next month the most chair of the international whaling commission's as japan needs to shore leave in the late method of research and wales i doubt he's the vice chair of the addiction and welcomed monday's ruling by the international court of justice ordered to hand to stop its research whaling program in the antarctic. i think you really have to get to mind although we are making such a good showing partnerships with other countries because i'm pretty convinced that the new coco it's going to get jenna's said the move we need from a neutral stance has clarified the argument about wheeling among the member nations at the iwc. i did the city commission meeting can be unable to decide on major issues because of the deep divide between supporters and opponents of whaling. anti whaling countries are expected to step up their criticism of another research whaling operations at japan and dax in the northern pa

and poland and the gorman, polish, russian axis, if i can one. >> the poles are a little mad at russiaht now -- >> yeah, we saw a strong recovery in poland last year. latin america i remain bullish on despite the issues. africa and the middle east still strong. and i see some things still happening, you put opportunity around iran, i think some of the things i'm hearing in this relation to potential developments in iran make me pretty bullish. >> we heard people saying there might be something here. >> yes, i think they are. >> i won't tell me sir martin that you told me before we started that you don't know that much about what is going on around the world. thank you for being here. >> thank you very much. >> after the savings and loan collapse is your money safer now? and last-minute tax returns what you don't know could cost you. i'm here to help that story and keep it right here. ♪ ♪ >>> this is the season when we get what i like to call report cards for american businesses, otherwise known as earnings reports. right now we're getting a look at how companies did in the fourth quart

and poland and the gorman, polish, russian axis, if i can one. >> the poles are a little mad at russiaight now -- >> yeah, we saw a strong recovery in poland last year. latin america i remain bullish on despite the issues. africa and the middle east still strong. and i see some things still happening, you put opportunity around iran, i think some of the things i'm hearing in this relation to potential developments in iran make me pretty bullish. >> we heard people saying there might be something here. >> yes, i think they are. >> i won't tell me sir martin that you told me before we started that you don't know that much about what is going on around the world. thank you for being here. >> thank you very much. >> after the savings and loan collapse is your money safer now? and last-minute tax returns what you don't know could cost you. i'm here to help that story and keep it right here. ♪ ♪ >>> this is the season when we get what i like to call report cards for american businesses, otherwise known as earnings reports. right now we're getting a look at how companies did in the fourth qua

the full reports on today's first day of the state as its first years on all the manager told the gorman due east away from the seventy third birthday my cosy he can step forward to make history. a new home up for me a windsor queen elizabeth will feature the welcome telling the grounds of windsor castle. totally awesome it was fine. along with the endless struggle. on the first state visit by an irish president to the uk was underway. us. morse drawn carriages to force them to guests would go to windsor streets. she does pageantry better. straight rain held off crowds marched on as the procession troubled one minute to windsor castle. t t o said the law. the president inspected a guard of honor the forty flight members of the irish guards campaign many of their colleagues are currently based in cyprus was fourth and two born and we kill two born in belfast world to lunch and tea for the ceremonies. then another moment of pageantry president reagan's presented a gift. mulch for the mascot of the gods. irish wolf hound cold cold. it is. lunch the president was broke to see some of the tre

then gorman's team got to work and about a half hour later, my cushions were chemical flame retardant free and i'm told more comfortable, too. so where does the old foam go? well, for now, some is recycled and could end up back in your house in the form of the foam carpet padding you have. that's why bloom says research is so important. 10% of sales go towards developing a safer solution. find more information on the safer sofa foam exchange program, easy for me to say, on our website, kpix.com. >> $92 is not cheap by any stretch of the imagination but i tried to get my sofa refreshed with just regular foam and it was too pricey. >> reporter: the average sofa is about $70. i have a big oversized sofa so it is definitely cheaper than many other options. >> right. buying a new sofa. absolutely. >> all right. thank you, julie. >>> all right. now for a look at what's ahead on the "cbs evening news," scott pelley is in new york. >> reporter: hi, allen and liz. great to be with you in the bay area. states including california were paying close attention to today's supreme court ruling on af

james gorman is embarking on a fairly radical transformation of morgan stanley from a firm that was like goldman sachs pre-2008 to a firm much more based on dispensing advice both on brokerage level to retail customers and to investment banking clients on a broader capital markets level. is that, is that model working? we're going to see that affirmation of both of those models i think in a couple weeks. melissa: yeah. >> i think consensus is, and dick can check me on this, goldman sachs will not make as much money. we're going to see cracks in their business model. you never know. goldman sachs pulls one out of their hat every now and then. make this is it. morgan stanley model will be interesting to see where they come out on that. those are the two things i'm looking for, which model of an investment bank going forward, take the bank banks out, it will be a battle between more gag and goldman. melissa: dick, before we run out of time you make a point that the trading business is tough and look at a market that is tanking today and lost a lot of confidence, how do you think that impact

james gorman talked to "squawk on the street."e a look. >> i think you'll have more variability in commodities and fixed income than any of the other business lines we have. what's interesting about the business mix here is over 80% is institutional equities. investment banking, wealth management and asset management. the most volatile part of the film is now a relatively small part of the firm. >> that on top of the fact that its investment banking pipeline seems to have increased since the end of the year, which is in contrast to what goldman sachs said. >> whether they were lucky or it was foresight, they've done a great job. they have differentiated themselves and ahead of the curve. they're making money on the fee based businesses. they're investment management and doing great. that's what goldman sachs is probably lacking right now. morgan stanley's fic unit did really well. depending how you want to look at it, it trades about the same as goldman sachs. but in the world we live in today, and it kills me to say this, it's pr

jp gorman didn't deliver on the revenues. it's ironic but some of the stocks down post earnings didn't decline because of slower revenues. at&t, chipotle and yum. chipotle, yum and brinker ran into higher food costs. something i should have known from the guacpocolypse right in his backyard. fourth there's always some group growing to save the day. it's like everything goes down at once. like this market. we saw that kind of everything go down at once leading to the bottom april 11th. since then we had real weaknesses in certain sectors. they have been spread out though and they don't sink the whole market. the sectors that should have pushed us down have been declining but kind of in an orderly fashion. if you own them, you don't feel that way. i can't tell you how many times the transport versus saved the day. either the rails or the trucks are today's airlines. there's high profile oil stocks that just won't quit or just when you think retail is rolling over because of a weak number from bed, bath or macy's or cap. you run

we should note we will be interview james gorman today on squawk in the street. 10:30 eastern.y of estimates. shares trading sharply higher this morning. about $3.25 higher. 555.65 is the number. it has been one of the momentum stocks that lost its mojo. it slowed down sharply the past couple of weeks, fall 4% the past month. could a spring bounce help get them moving again? nicole miller reagan, senior restaurant analyst at piper jaffery. are you in? >> i am today. >> the best food in the country. you're in the right place. do they have chipotle? >> they do. i get up to channel check it as often as possible. absolutely. >> walk us through these numbers. what do you make of them? >> the top line is awesome. the bottom line, a bit of a miss versus consensus. we're in a high cost to goods inflation period especially as it relates to produce. >> and avocados is one of their problems? chicken is part of the problem? >> exactly. >> you have a price target of $550 on this stock? >> along with the rest of the street, the investors, it's been chasing this one. there's no other good mid

we've got lloyd lang fine, head gorman,n stanley, james and the number of other companies will be representedre as well. i would say in the re-there should be a breakdown in our economic relations with russia american corporations and financial institutions seem to still be willing to do business. >> we are in this intermediate phase right now where it's not clear what the intentions are or at least putin hasn't stepped over the boundary of an actual invasion. true that western financial interests and business interests in germany just want things to go on, but they will not go on. bankers may be there, they put later there and take it out of the banks. anybody want to put money there? >> they think they are going to make business. money is leaving russia, new projects are not going forward, there's is loss of capital and capital flight, and that's youly to continue even if have the sessions, meetings and so forth. >> it is an economic problem. that should be what influences him back to the center. -- >> putin needs connections with normal world-class industry around the world for russia to h

[applause] >> i think bonnie gorman who is in our audience has a question with the solution to our book problems. we're almost at a time. she writes, when an arm better consensus makers and man. what electing more women to congress help? >> that is yours. [applause] that's the way it is. >> but i wonder if -- we have now a record number of women in the u.s. senate. they do seem to behave -- not that they are conservatives or liberals. they do seem to behave in a different way and the men do. what is your perspective on that ? they get together for dinner. >> and they still do. we get to know each other very well. we have regular dinners, personal dinners. whenever we say there's stays there. we have never had a disclosure. on occasion we write the female justices of the supreme court and in turn and bite us to the supreme court for dinner. it is more personal, but we can talk about families and friends or what's going on, issues, whatever the case may be. the point is it builds, i think, a collaborative environment which you can, you know, ultimately build on when you are looking at iss

. >> who gets better marks, morgan stanley's gorman or lloyd blankfein at goldman sachs? transitiontanley's to active wealth management in hindsight is been a smart move. as the firm moves forward, the businesses they are in are less capital intensive. about the ability to return capital to shareholders, look at morgan stanley as the one that can do that over the next few years and that will be a big driver of the stock. do you remember where morgan stanley was a few years ago? people said i cannot believe how far they have fallen. what a comeback. thank you for joining us this morning. he is the managing director at jme securities. given morgan has stanley and goldman sachs a pass. let's talk about google which came out with earnings last night after the close and they were bad. they missed on the bottom and top line. despite the fact that people are paying less for ads, let's introduce you to mark mahaney. what is your take on the earnings? >> you had a modest missed quarter on the top and bottom line. there was some one-time costs related to some recent deals. they ann

i think gorman is correctly integrated the companies.emember work day a stock people don't like, was brought in to really make this amalgamation. it's good. they have a real book value. it's a strong story that has sold off. >> not that they aren't doing advisory work. they advised yesterday, advised today zebra on the motorola deal. let's move on. >> hh greg, might not care about it because it's a smaller retail, but here's what's important. they have comparable store sales down 9.9%. electronic category expected to decrease, preannouncement, 18.9%. computing and wireless category minus 22.6. so remember there's been this great conversation about how personal computers have been doing better. how wireless might be improving. now again, this is not a big national sample but that's pretty awful. >> down 22.6, computer and wireless. nine overall. but are they just losing it to amazon? >> and to best buy. this is a show room situation. but you know what, when you see this decline you say to yourself is the pc really done and turning around?

i think bonnie gorman has a question with a solution to our problem. this will be our last question. she writes, women are better consensus makers than men. when selecting more women to congress help relieve gridlock? what do you think? >> that is yours. [applause] >> that's the way it is, you know? >> we have now a record number in the u.s. senate, 20 women. in the u.s. senate. they do seem to behave -- not that they are conservatives and liberals -- they do seem to behave in a different way than the men do. senator bennett, what is your perspective on that? >> you're going to say yes, right? >> you got together for dinner, right? >> we did, and they still do. we get together. we have regular dinners. personal dinners. we never had a disclosure. on occasion, we invite the women justices of the supreme court. and they, in turn, invite us to the supreme court for dinner. so it is more personal, but we can talk about families and friends or what is going on, issues, whatever the case may be. there's no personal agenda. the point is you build a collaborat