let's dig a little more into harris corp. doesn't get a lot of media attention, but our next guest has a strong buy on the stock. and he's a new face to cnbc. chris, analyst at raymond james. thanks very much for joining us. why do you have a strong buy on harris corp.? >> i'll give you three reasons. first, it's a cheap stock trading at seven times about a third discount to its peer group. we're seeing accelerated earnings with a billion dollar buyback. number two, traditionally seen as a defense company, they actually operate their most important business unit on a commercial business model which has allowed them to gain significant advantage over their prime contractor competitors. and, third, that commercial mindset has allowed the company to do something most defense companies can't do which they're successfully diversifying out into health care, energy market and even a new secure cloud computing capability. >> you talked maybe the keyword, right. defense. the defense budget is getting whacked. leon panetta talking abou

corp has the mojo. >> ross stores? >> i think it's still okay to buy. >> time warner downgraded to equal. >> there's worry about difficult compares coming out because of "harryter." i like that stob. >> zimmer holdings. >> this is not a bad call. >> and kellogg says earnings are going to disappoint for two years? >> big supply chain problems there. they have not been agent to diversify. procter is another one that looks very bad here. >> you said on friday you not procter should be broken up. >> there was an open rebellion on the conference call. i know these people from when i used to be a hedge fund manager. open rebellion against procter's management. >> we'll see you at 6:00. >> coming up, a live interview with philadelphia fed president charles plosser. much more "squawk on the street" straight ahead. >>> the ned -- fed announcing it plans to keep interest rates low. we're joined by our very special guest philly fed president charles plosser. >> i'm here with charles plosser. let's talk first about your economic outlook. the statement seemed to be very pessimistic and almost seemed to ignore the better economic data that's been out there. what's your ta