there is fear about what happens and we sat down with halliburton and the oil and gas services companies understand they have trade secrets. we showed what the ingredients are and it took a six months but we got the environmental defense fund to claim victory and have halliburton claim victory. here is a transparency, set of regulations that will protect the public and settle down all the hysteria and kirk -- furor about fracking. i did it when i was a kid diyala this. how do we get past that fear and uncertainty and create some sort of predictability to business needs? that became a symbol for our issues. to find the appropriate compromise so we can get on to the next problem. >> would you like to bring us up-to-date on california? maybe give us a sneak preview of the may revise briefly. >> where selling bonds and we're not disclosing materials between now and then. we just have to wait. it will be interesting. that i promise you. the basic fact is california increased its production of wealth, the state of 38 million people and all businesses. the economy is somewhat under $2 trillion.

shares of halliburton have resumed trading in fact. they are tratd e trading slightly higher. we saw they were at 2% about higher before the news came out. the news was an operational update revealing hal will see margin impression in the second quarter due to higher commodity costs. we also saw the rest of the oil services taking a dip on this, but we're seeing them rebound as well. slumberger and nabors, getting hit at the moment that the news came out a little worried about spillover there potentially for these companies as well. ty. >> jackie, thank you. low bond rates leading to record low mortgage rates and that has mortgage applications up more than 1% in the most recent week. refinancing activity also picking up. so who's cashing in and who's not? diana olick knows. diana. >> that's right, tyler. it's in the refi space no question. borrowers and smaller lenders are getting a boost from these low, low rates. 78% of all applications last week, that's the highest level since february. record low rates the revamped refi program wit

. >> and halliburton seems to be in some hot water. what's going on there?> literally -- >> is that a new planet? >> no. it's used in fracking. most comes from india. apparently there's a shortage of it, because there's probably so much fracking. so halliburton came out and said the shortage is causing prices to go up, which is going to compress their margin. so they essentially cut their gross margin forecast. so halliburton stock getting hit on gaurg gum. >> youf said it seven times. ulta also looking pretty good after some earnings, right? >> nothing can stop this company. nothing has been able to stop this company. stock up 8%. they beat already increased guidance. earnings rose 50%. same store sales continue to rock. they're expanding like a fungus. >> yes, they are. >> and yet you have a problem with ulta. >> you know, it's little things that i love -- >> by the way, welcome back. >> it's the little things i'm looking at that may not mean anything right now that get me concerned. a company that's a growth story because it's opening new stores. the comp

we love halliburton right here.alliburton has sneakily become one of the best service companies in the world. number one in north america. catching up on schlumberger internationally. it trades very cheaply relative to schlumberger and the rest of its peers. like an anadarko, fantastic exploration portfolio. can more than double reserves in drilling. >> let's talk about halliburton. it's effectively been cut in half in january. it's been a tremendous s&p tape. if you liked it -- i guess if you liked it all year, it's got to be extraordinarily compelling here. what's been the underlying problem with the stock? >> without getting into too many technical details, it's the largest pressure proper fraking company in north america. the switchover from natural gas drilling to oil drilling, people concerned about the fracturing business. the largest fracturer in the united states. when you're concerned about that, you're going to take the money away from it. all right? we think you're really going to see very strong margins

on the down side halliburton fell on news that shortage of fracking materials will double its north american profit losses this quarter. meanwhile mattress maker tempuredic plunged 40%. nasdaq's chief told cnbc the exchange is embarrassed as an organization and has set aside $40 million to compensate losses incurred by facebook's botched ipo. financial firms say that falls far short of an estimated $100 million lost. >>> finally, the most fuel-efficient car in u.s. history. it's ready to hit the roads. honda's new electric fitch clocks in at 118 miles per gallon. sound good to me. coming up jersey devils avoid a sweep, managing a first step in the most unlikely of come back. oklahoma beat texas but not on the gridiron, on the nba hardwood. your early morning sports headlines are straight ahead. >> weather is starting to look and feel like summer across many areas of the country. your forecast is coming up. you're watching "early today." >>> good morning. if you're just waking up this is "early today." >>> in sports last night in the stanley cup finals the new jersey devils forced the los ang

and if you work for halliburton have at it. the secret deals are done for your benefit any way.give a sense of how bad this is, public citizen who is a watchdog had this to say. the tribunals that we would exposed to that would be staffed by private sector lawyers that would rotate between acting as judges and advocates suing the government. that means that the foreign corporation can come in here based on this dale and say i don't like your labor laws. i don't want to pay this much and i want to pull pollute. it's good that i can go to a tribunal packed with guys i paid off, they can make the ruling and you lost u.s. sovereignty and it's the least progressive trade deals you could possibly have all in favor of multi national corporations. why, why would a guy who promised to be progressive do this kind of deal? why does every president we have do this kind of deal whether they're republican or democrat. let's bring in somebody who can talk about this. zach carter wrote about this at "huffington post"." we showed you the clip. the guy promised he would not do trade deals like th

. >>> on the down side, halliburton fell on news a shortage of fracking materials will double its north american profit losses this quarter. >>> meanwhile, mattress maker temprapedic climbed 49% after slashing quarterly profit estimates in half. >>> nasdaq's chief told cnbc the exchange is embarrassed as an organization and set aside $40 million to compensate losses incurred by facebook's botched ipo. financial firms say that falls far short of an estimated $100 million lost. >>> finally, the most fuel efficient car in u.s. history, is ready to hit the road. honda's new he electric fit, clocks in at 118 miles per gallon. sounds good me. >>> coming up new jersey's devils avoid a sweep, managing a first step in the most unlikely of comebacks. oklahoma beats texas but not on the gridiron, on the nba hardwood. the early morning sports headlines are straight ahead. >>> in weather starting to look and feel like summer across many areas of the country. the forecast is coming up. you're watching "early today." everyone's hair breaks. ♪ oh oh oh oh you see it in the brush... ♪ oh oh oh oh ooh oh

morgan stanley jumped 8% amid reports private equity firms may try to buy a stake in the bank' halliburton fell on news of a shortage of fracking materials that will double its north american profit losses this quarter. >>> meanwhile, mattressmaker tempur-pedic plunged. nasdaq's chief told cnbc the exchange is embarrassed as an organization and has set aside $40 million to compensate losses incurred by facebook's botched ipo. financial firms say that falls far short of an estimated $100 million lost. in the most fuel efficient car in the u.s. is ready to hit the road. honda's new electric fit clocks in at, get this, 118 miles per gallon. that comes in handy. >>> coming up -- new jersey's devils avoid the sweep managing a first step in the most unlikely of comebacks. >>> plus, oklahoma beats texas. not on the grid iron, on the nba hardwood. your first look at sports is straight ahead. you're watching "first look" on msnbc. ♪ ♪ we all need it. to move. to keep warm. to keep us fed. to make clay piggies. but to keep doing these things in the future... at shell, we believe the world needs a br

and the contract jobs in iraq it doesn't take much to look back a few years ago to dick cheney's halliburton where hundreds of millions of dollars finally audited by the pentagon basically disappeared into thin air. i think that's right and we don't know the details but hopefully some pincus or somebody like him will will nail a few of the people who are diverting large sums of money from this but to have that kind of money spent the thousand million dollars for for what. really we need more spending here in america just last night we had a storm move through the washington d.c. area there are people without power i've been without power of i'm in northwest d.c. for the past eleven hours if we can't have a proper working infrastructure here in america what are we doing vigilant around in iraq i think there are many people that would what indeed is capitol hill doing fiddling around with many countries around the world not just out of all of iraq now i'm going to ask you i must ask you it's approximately six months now since the official u.s. military presence in iraq came back to america but

. >> halliburton. >> tim? >> tsu, brazil. >> j.p. morgan. >> kampb? >> m.

we were also working with halliburton and other service companies. we had the chief operating officer of halliburton and the regional head both claiming victory. we had a transparent set of regulations that helped protect their trade secrets. the environmental defense fund said the public would be sufficiently informed so they would not have anxiety about what is going down this whole -- hole. how do we make sure we have she does give methane -- you did give -- fugitive methane. what are the potential benefits? what are the real facts so that we can get through the bitterness and really resolve this? that will be the most crucial issue. i spent 15 years in the restaurant business. i tell my fellow electric co- elected officials that everybody should spend a few years -- i tell my fellow elected officials that everybody should spend a few years running a high-volume restaurants. the real truth is that you run a restaurant or any small business and you learn that there is no margin or no profit in having enemies. you will do whatever it takes to recogn

look at halliburton, look at these stocks they're going lower because the price of natural gas has collapse the price of oil has collapsed, i want to stick with hackmann because of the long-term these. jack in georgia. >> caller: thanks for your help and a big boo-yah from west palm beach. >> i'm liking that. right back ought. how can i help? >> caller: i have a small position in equity residential, eqr. i'm trying to decide whether to sell what i have or to add to it? >> no, don't sell that one. that's exactly in the sweet spot. eqr is one of my favorite stocks. i think you got a winner there. >> buy, buy, buy. >> we're going to bob in texas. bob? >> caller: hello, jim, i have a question on duke energy, symbol duk. what's your view on the impact of the pending merger on its stock price, do i buy or sell existing share before the merger becomes final? thanks for all you do, jim. >> listen, pilgrim, the duke is the king. i like duke, so i'm going to buy. lawrence in new york. lawrence? >> caller: hey, how you doing today, jim? >> well, a little distracted by some of the people over there who

off, you would be ordered to write a speech praising the administration quicker than you can say halliburton i was a domestic policy advisor. i give the president credit for this. he gave the order working with the c.i.a. and the military and we found the guy. >> why does mitt romney describe him as a weak lead other foreign policy. >> on foreign policy this is a military decision. on foreign policy i think he is extraordinarily weak and enflamed israel for one, our closest ally and, number two, by giving a date certain in afghanistan and the taliban is coming back and a lot stronger and china continues to manipulate their currency making it a lot more expense is i have for american exports to go over and a lot more difficult for us to sell our products. if you look at the president's record on foreign policy and what he has done, not military, but foreign policy, i think it has been atrocious. >> did you write mitt romney's speech? karen, coming to you, ron says the president is weak on foreign policy. >> yeah, i guess he figures that it was, quote, weak of the president to say to the iraqi

. >> with halliburton's announcement yesterday or two days ago, maybe you got a capitulation, that valuation-wise it has been cheap and may be getting cheaper. maybe finally you have a trading bottom there. i think the selloff again in gold gave you a tremendous opportunity. if central banks continue to cut, australia, obviously china, it's all going to lead to gold. it's obviously a painful day to be in it today, i understand that. never a fun trade, but i do think, again, i'll say it again, three months from now you'll come back and it will be north of $2,000. >> miners, junior miners, pete? >> love the miners. they took a hit. spoke about the gdx and the paper. back to oil in a second. bp has been absolutely been a stellar performance recently. giving a 5% yield so you've got that on top of it and seller of upside options creates even more yield, but that's a name that just continues to perform very, very well over the last week and a half or so. i continue to hold that name. >> and put a date on the counter. the iran nuclear atomic meeting is something that i think is going to put a -- a big

happened in the balkans in the book, is to remind everybody that it happened, it wasn't that long with halliburton and dyncorp and all those groups stealing data. it was not all that long and we were fine before a miniature car before for that happen. there's always been some involvement in warmaking, but outsourcing of the basic logistics of being at work, things like laundry, food, building bears, driving god bless, vip security, that kind of stuff, that was a purely military function really not that long ago at all. and so it could be created in 20 years, it can be gotten rid of, too. we can go back to the way it was. where it came from is kind of a funny story. and i think it's chapter four. [laughter] thank you. it could be done and it takes will to actually depend on, if of those things where there's been some interesting across the aisle leadership on. claire mccaskill is a relatively conservative democratic senator. she is conservative on some things, progressive on others, but one, if she gets reelected in missouri i expect her to be the one who holds the banner higher for doing that. tha

was owned by halliburton and they lost employees in iraq tradgecally. it was my intent to go and respond to that crisis and to give my sympathy. that's the way we are as neighbors. but they are not acting neighborly now, and there are a number of boys, same kind of children that i see that come here to washington all the time , of course, these at-risk boys probably have never been outside houston, but there are school districts across the city, and isn't it a shame that we can't get a response, to be able to support these children? so i asked the c.e.o. to respond to these at-risk boys. i'll certainly be looking forward to engaging and making sure it happens. it's very important. and i understand that there has been some question about an executive order that deals with helping children, again, across this nation, children who've come to the united states not of their own accord brought by their parents who have been here since the age of 16, who have attempted, like many children that i see, to do the right thing, to get a high school diploma, to be i

afghanistan have little popular support yet for a handful of corporations lockheed martin, north roman, halliburton are immensely profitable as war is for a certain tiny segments and always has been. war is a racket. i think that we unfortunately have created a world where power is centralized in the hands of a select group of corporations that are more powerful than the state itself and it is within the american political system impossible to vote against the interests of goldman sachs and unless we thwart that power we are doomed because corporations, unfettered capitalism, a great book called the great transformation leaders and turn everything into a commodity. in that sense karl marx was right. unfettered capitalism is a revolutionary force and human beings become commodities, natural world becomes a commodity that you exploit and exhaustion or collapse and that is why the environmental crisis is with the -- if we don't find a mechanism or a way to break the power of those corporations they will trash -- continue to trash the ecosystem to the point at which life or huge segments of the human s

. >> halliburton? >> this stock is so down. can you call a bottom? yes. i like it. >> and a little news of b and a? >> there's a court suit going on about the mortgage settlement. it's not going to be good news for bank of america. >> the stocks came down big as they d i want to know if it's time to buy. >> we'll see you tonight. when we come back, the fed chairman on the hill. don't go away. all in one account. keep watch on the markets. or use our exclusive tools to help find ideas. it's powerful, easy-to-use technology for trading stocks, options, and futures. keep trading whether you're at home, in the office, or on the go. optionsxpress, the broker smart traders deserve. open an account today at optionsxpress.com. >>> a pretty dramatic morning shaping up as the dow is up 132 on hopes what the fed chairman will see in a few minutes. steve liesman is back at headquarters. >> i want to give you what he says in his testimony about policy. in regards to europe, he says, quote, the federal reserve is prepared to take action as needed to protect the u.s. fi

like halliburton of its day, and united fruit hired these investigators to figure out who owned thisfrom both people. and that was something about him recognized by fdr. his great enemy was huey long, and huey long was going to run against fdr as a third party. so it was like enemy of my enemy kind of thing. so he became very important in government, and the people around him -- what's amazing about zamuri, everybody connects to him. so he starts with his ripe ba an as, and you wind up with fidel castro in cuba. tommy the cork corcoran. bob la-follet, all connected to zamuri and jerry wine traub has this thing, says there's always a guy. and sam zamuri was the guy or the guy behind the guy behind the guy. and my father who wrote this book when i was a kid called "you can negotiate anything" i felt like zamuri was his idea in action. power is based on perception. if you think you got it, you got it, be even if you don't got it. and that was it, he was a guy with literally zero. and it would be the equivalent of a guy pumping gas at the exxonmobil station, 25 years later he owns exxonm