r horton, biggest loser down 11.5%. earlier in the week, new home sales.cole, caterpillar, it may not be sexy name in the world. matters to the global industrial picture. >> i think it is sexy too. really all about engines. really do well with engines. [closing bell ringing] david: i got to tell you, little-known secret about, 1987. that is the number, right, liz? 197, on s&p. look at that number. exactly 197.77. may rise a little bit above that to 198. we're close to record on s&p. unfortunately all the other indices couldn't pull out a win today. but it wasn't a bad day. the way things were looking at one point. they were going pretty far to the south. just about flat on the dow. russell is biggest loser. even there, barely a loss. we have a very busy day. a lot of earnings coming out including amazon. "after the bell" starts right now. liz: can't igno

today's stock suggestion is home builder dr horton.ng a lot better and some feel their is a reflection in the housing market coupled with bank lending and getting back to the notion that the rent is too high a real demand marked by increases in 1-time home buyers which is really the key. t r horton is the number one builder in the country. they have the right product. for the last couple of years when the high end stuff was selling, fine. now i think in the second half of the year as demand goes for homes under 250 grand, they have those as well. their most recent earnings report the backlog was up. the value homes in general was up 5%, on sales wanted%, but the gross margin, 22 and a half%. the 2011 it was 16%. a huge margin expansion. right now looking to rally to 27. after that, 35 is really very doable. >> i am looking home builders. you have been talking about this a lot. interest rates low. technically the chart looks fantastic. inventories have gone up. there are homes out there. people actually start buying. >> first-time home

zilphia was dead, and myles horton, her husband, said, "we can't have a celebration of 25 years withsic. won't you come down and help ?" d some songs so i went down, and dr. king and reverend abernathy came up from alabama to say a few words, and i sang a few songs, and that was one of them. ann braden drove king to a speaking engagement in kentucky the next day; and she remembers him sitting in the back seat, saying, "'we shall overcome.' that song really sticks with you, doesn't it? it wasn't until another three years that guy carawan made it famous. >> even as you're singing songs like that, it has also often been seen as a tremendous threat to the establishment. in 1963, the fire & police research association of los angeles warned before one of your appearances, pete seeger, that folk music in youth gatherings were being used to brainwash and subvert vast segments of young people's groups. i hope they've learned a little different now. that's 40 years ago, 41 years ago, but the establishment has always been concerned about music. i've quoted plato for years, who wrote, "it's very

i spoke this morning with vicky horton. this is her fourth time visiting with us on this occasion. she drove from wichita to honor , joseph.r we thank all of you for helping us pay tribute to these journalists. 'sey are truly among democracy heroes. i would now like to introduce our chief operating officer here at the newseum institute, who will introduce our guest speaker. >> would morning. knows thearroll dangers facing journalists from at least two perspectives, as executive editor and senior vice president of the associated press and as vice chair of the board of the committee to protect journalists. as the top news executive of the world's largest independent newsgathering agency, she is responsible for the news content ap's 280rmats from the two bureaus across 110 countries. rededicateoday to this memorial and recognize those who died in 2013, but we should note that in april, a photographer for the associated press was killed and a reporter was injured in afghanistan. has been a leader on many journalism friends, challenging government moves to .imit press freedom in focusin

nton,otte horton -- thor we was one of the women featured, she would have contact with the 54th regimenthen they sailed to the charleston and buford area. taught many of the soldiers to read and a school that she set up in that area. she was actually the niece of for example, or, charles lennox raymond who was also a very prominent abolitionist in the 1850's and a noted speaker, someone who rivaled frederick douglass in the 1850's. here,ong these two walls we have pictures of some of the members of the 54th. we've begun with a picture of colonel robert gould shaw. the commission as colonel of the regiment by governor anders. that was one of the first things governor andrew did. he made sure he had for leadership of the 54th. at the time, military regulations stipulated that the soldiers could be african-americans but the officers had to be white. that was the rule. and governor andrew knew it was important to have the leadership from strongbe men abolitionist families, which shaw's family was. so he offered the leadership to shaw. shaw was initially hesitant about accepting it. seen the

>> "horton hears a who!" definitely my favorite. just because of all the silly characters, and i like the point of the story. >> "the cat in the hat," definitely. because it's fun, it rhymes, i love cats, too. so and the cat in the hat is just my favorite character ever. >> i love "green eggs and ham" just 'cause i love the concept of it, and i love rhymes, and i just love dr. seuss. >> "green eggs and ham." >> "green eggs and ham," i'll have to say, because, like, ever since i was a little kid, like, we always had the green eggs and ham at school, and so i just thought it was fun. >> my favorite dr. seuss story is "green eggs and ham." >> "green eggs and ham." >> "green eggs and ham." >> "green eggs and ham" is my favorite, also. i remember when i was younger, i made my own green eggs. they didn't turn out so well. they sound better than they taste. with "speak of the week," i'm drew. >> i'll tell you why billings, montana, is called the magic city. >> just about any place you visit in this wonderful country of ours, you'll no doub

horton is down about 12% in the last two days. so obviously a lot of concerns out there in home building. >> okay. thank you very much. let's get some analysis, president and chief investment officer at cab bot wealth management. berth white, he's chief investment officer, gentlemen, welcome to the program. let me kick off with you, rob. you're really upbeat about the market. you think in 12 months question get an 18% gain on the s&p plus dividends. why so optimistic? >> well that's correct. i believe we could be up to 2300 on the s&p 500. the real reason is the fundamentals underneath this market are remarkably strong. you've got monetary conditions, probably the most bullish in my entire career, you've got an earnings trends, very positive. you're got a pretty fair value on the market, and investor psychology, in my read, is still in the favorable camp because we don't really have wild speculation going on yet. people are a little more optimistic today. but they're still fairly cautious on balance. so i think you could have an 1

dr horton reported disappointing earnings launched an entry level product express homes. >> there are builders that made a decision to trade price for volume so they are wanting to keep prices high and trade volume for it. they made the trade off during the bust and recovery. >> reporter: part of this is because the land they have is scarce and expensive so they are building more expensive homes on it, which makes sense because that's where the demand is. >>> that is "nightly business report" for tonight. i'm tyler mathisen. thanks so much for watching. we hope to see you back here tomorrow evening. ♪ brings back those memories ♪ when we were kids on the corner of the street ♪ announcer: tonight, the legends of 1950s and early '60s pop return to the pbs stage in an all-new "my music" special. ♪ to spend one night with you ♪ in our old rendezvous ♪ allegheny moon ♪ your silver beams ♪ can lead the way to golden dreams ♪

dr horton reported disappointing earnings launched an entry level product express homes. >> there are builders that made a decision to trade price for volume so they are wanting to keep prices high and trade volume for it. they made the trade off during the bust and recovery. >> reporter: part of this is because the land they have is scarce and expensive so they are building more expensive homes on it, which makes sense because that's where the demand is. >>> that is "nightly business report" for tonight. i'm tyler mathisen. thanks so much for watching. we hope to see you back here tomorrow evening. >>> the following kqed production was produced in high definition. ♪ ♪ ♪ >>> every single bite needed to be great. >> twinkies in there. >> wow! >> it's like a great, big hug in the whole city. >> that food is about all i can handle. my parents put chili powder in my baby food. >> french fries everywhere, all over the table and just a lot of chili.

dr horton reported disappointing earnings launched an entry level product express homes. >> there are builders that made a decision to trade price for volume so they are wanting to keep prices high and trade volume for it. they made the trade off during the bust and recovery. >> reporter: part of this is because the land they have is scarce and expensive so they are building more expensive homes on it, which makes sense because that's where the demand is. >>> that is "nightly business report" for tonight. i'm tyler mathisen. thanks so much for watching. we hope to see you back here tomorrow evening. >> this is "bbc world news." >> funding of this presentation is made possible by the freeman foundation, newman's own foundation, giving all profits to charity and pursuing the common good for over 30 years, kovler foundation, and union bank. >> at union bank, our relationship managers work hard to know your business, offering specialized solutions and capital to help you meet your growth objectives. we offer expertise and tailored solutions for small businesses and major corporations.

it happened last wednesday around noon on horton street. you can see two men with handguns chase the victim west on worton toward 18th. after shooting him in the leg the gunman took off in a silver colored car. >>> a bucks county man is behind bars tonight accused of sexually assaulting a teenage girl he met on a social media app. police say michael dougherty met the 16-year-old girl on an app called whisper. the girl told police he offered to help her run away from home. he met the girl at the neshaminy mall sunday night and took her to a motel. that is where he allegedly beat and sexually assaulted her several times and left her there. officers arrested dougherty yesterday. >>> surveillance pictures show two suspects wanted for robbing a liquor store then assault two workers on the way out. happened at carpenter liquors in wilmington sunday. the owner and employee caught the two stealing alcohol but the suspects sprayed them with pepper spray and got away. >>> trenton's new mayor shook things up on his first day on the job. mayor eric jac

the pier 70 area and that comes with tax incentives for some of our important projects such as the horton development project to rehabilitate these very buildings as well as the clean core park project, the rehabilitation and the 25-acre waterfront site. so, very, very pleased by that and my kudos to marc powers. i don't know if hehere. i'm not seeing him. and other port staff for all the hard work that went into that nomination. i wanted to report on something i think has gotten a lot of air time, but i wanted to make sure it is in froth of everyone, which is the civil grand jury for fiscal year 2013-2014. reports this past june that are [speaker not understood]. the first is titled the port of san francisco caught between public trust and private dollars ~ and the second is titled rising sea levels at [speaker not understood]. i want to recognize the members of the grand jury that are here led by their chairwoman elaine schmidt. sorry about that, elaine. and there are 18 volunteer member of the civil grand jury, i believe you issued a total of five reports, i think. six as of tomorrow.

horton and look at the state of the housing recovery. stay "in the loop." ♪ >> you are watching "in the loop ," live on bloomberg television and streaming on your phone, tablet, and on bloomberg.com. what is the real deal with the housing market? permits and sales are weak, but existing home sales rose two and anght-month high -- rose to eight-month high. how would you categorize this? >> recovering. >> really? spike in interest rate last may and weather impact earlier this year. activity inwed down the market, but we are starting to see things pick back up. >> but the stars on the permits were worrisome. that is where you will see the growth. what happened? >> housing starts and permits are a measure of supply. builders are faced with challenges -- limited with the amount of lots they can build and they are also facing labor shortages in some markets. you have to take government that with a grain of salt. most of the decline was in the southern region. it might be an anomaly. building data has been relatively strong in the south, single

horton stocks held the most in almost five years.ompany reporting its net income fell to 103rd teen million dollars, short of estimates. and ken griffin, the founder of citadel filed today for divorce from his wife were 11 years, citing irreconcilable differences. those are the top headlines. back to you. >> heart ache to my husband's and shopping are just some of the ingredients in the real housewives franchise on rob o.t. the. the new york installment just wrapped up its installment with a memorable moment from our last guest. she's also the author of a recent book entitled "leggy blonde -- a memoir." she joins us now on taking stock. the housewives. why do something like that? >> i joined the housewives to raise awareness for amputees. i knew i would be a caricature, i knew i could really raise awareness and give hope to amputees who need help and guidance. >> did they seek you out or did you go to them? what they sought me out. they came to me and asked if i would mind the show and i said absolutely not, not joining those crazy w

horton. orders up only 2.2%.auto companies, just to show you that, better than expected, gm, a disappointment. dow opened very flat this morning. >> all right. thank you very much, bob. let's get to the bond picks. rick santelli is here. hi, rick. >> carl, there's a lot of things going on on the economic front. we see that pmi in china definitely moved to the highest levels since march. 52 handle. but keep in mind, that series is only as old as 2011. it's hard to get a big perspective and we had a drop in claims. seasonalities accounts for things like layoffs in the auto industry this time of year. we'll keep it simple. lowest level since '06. what did that do to the market? rates popped up. that's what is supposed to happen. open the charts to may, five settlements under 2.5. and that is technically significant. we talk about it a lot. that's the correlation. makes sense. let's switch gears. look at pound versus dollar two-day. the pound is deteriorating a bit. they are walking back. we lost the 170 plus handle.

. >> my name is jane horton and p christopher horton, he was an army sniper killed in afghanistan in 2011. i wanted to bring into debate a little bit about all these families that are left behind. i'm here to represent the thousands of widows and widowsers that have lost their main source of income. we don't want to sit at home and cry, we want to be empowered as well. we want to take the american dream that our loved ones gave everything for and do whatever we can with it. i have many friends that were stay at home moms, they have to find out what kind of career they're going to have. i wanted to throw in here with all the ceo's around, one of the big problems i've come across that upsets me more than anything, as well as other military families is once we lose our loved one in war or if they're killed in action, we still have the military i.d., but at&t and other type of retailers or other organizations that will give military discounts strap us, we're no longer eligible for discounts. it's not the $10 off i get on my phone bill, but that we're being pushed out of the community. mo

horton is down 11%. meritage, is down 5%. group really getting a blow today after existing home sales earlier in the week was good news but today this group getting hit hard. so we have new highs for you and also these homebuilders to the downside after the news on the economy and new home sales. back to you. melissa: nicole, thank you so much. long wait at the e.r.? you should have made a reservation. the new trend coming to hospitals across the country. >>> plus, facebook is coming of age. zuck and companying seeing the biggest gain in months. do you ever have too much money? ♪ really... so our business can be on at&t's network for $175 dollars a month? yup. all five of you for $175. our clients need a lot of attention. there's unlimited talk and text. we're working deals all day. you get 10 gigabytes of data to share. what about expansion potential? add a line anytime for 15 bucks a month. low dues... great terms... let's close. introducing at&t mobile share value plans... ...with our best-ever pricing for business. these

i spoke this morning with vicky horton. this is her fourth time visiting with us on this occasion.she drove from wichita to honor her father, joseph. we thank all of you for helping us pay tribute to these journalists. they are truly among democracy's heroes. i would now like to introduce our chief operating officer here at the newseum institute, who will introduce our guest speaker. >> good morning. kathleen carroll knows the dangers facing journalists from at least two perspectives, as executive editor and senior vice president of the associated press and as vice chair of the board of the committee to protect journalists. as the top news executive of the world's largest independent newsgathering agency, she is responsible for the news content in all formats from the ap's 280 two bureaus across 110 countries. we gather today to rededicate this memorial and recognize those who died in 2013, but we should note that in april, a photographer for the associated press was killed and a reporter was injured in afghanistan. miss carroll has been a leader on many journalism friends, challen

. >> dr horton taking a trade on earnings and soft home sales data. >> this was the first time in a long really bad quarter from one of the home builders. i still believe in the housing recovery long term. i'm watching this thing closely. i want to see more of a pullback because the quarter wez weak. >> qualcomm is in the red after lowering its revenue outlook due to trouble collecting royalties from some chinese manufacturers. >> that's right. if they think the china manufacturers are not playing straight with them, which is what they're saying in the call, that's a big problem. as far as the stock down to here, i saw two big firms downgrade them. i'm more bullish on them down here at 76. i didn't buy any but i like it. we talked about it on closing bell last night. but as this thing fell, if 80 didn't hold, it's going to see 75. well, it saw that today. i think it's a buy around that level. >> coming .uh, a preview of all the important earnings reports coming after the close. over 20 million kids everyday in our country lack access to healthy food. for the first time american kids are

horton. >> thanks. >>> the big earnings story. there are many, of course, but amazon plunging on a quarterly loss bigger than wall street expected. that leads to two questions. number one, is jeff bezos the person all of you yesterday said was the king of tech losing his midas touch? number two, is this amazon report a wake-up call for other cult stocks like netflix and tesla? josh brown, i go to you first. yesterday, a big debate as to who was the king of tech. the people voted for jeff bezos. now you see what's happened with earnings. another quarterly loss. this one bigger than expected. how are we to take this as we view the prism of other so-called stocks? >> fair sow say jeff bezos can remain king of tech and not exceed analysts expectations every time the kpip reports earnings. separate those two things out. the thing with amazon, look at companies like radio shack, barnes & noble, blackberry, so derisively we mock these companies for not keeping up with tech 2340and making investments. can't have it both ways. you want ama

>> i go to tim hortons. there are not that many of them. all right, let's talk about drden.ssion highs. up about 1.5%. starboard value run by jeffrey smith. it's trying to get a look at darden's books. starboard said it was sdeek zeking a judicial order to compel darden to provide it with data. it also said it raised its stake to 8%. previously, it was north of 6%. starboard has been prove moving to replace darden after it sold off to golden gate capital for $2.1 billion. starboard viewed the price as undervaluing that red lobster chain, guys. back over to you. >> the ceo was on my list among the worst last year. still a lot more to go there. >> i talked to the guys a couple of months ago. they really, really hated that whole red lobster sfinoff idea. it's amazing they're still fighting given that it seems like they've lost. it basically seems like a vendetta and a feeling that's going to go on for a long, long time. so let's talk about facebook. here's what we sort of -- a lot of people don't realize on the show, when things happen, we send a lot of e-mails around to each o

horton came out with numbers that showed weakness, especially because markets like chicago are having a little bit of trouble you. we will continue to keep an eye on these numbers. a bigger than expected drop of a .1% to 400-6000 for the month of 6,00 forstop -- to 40 the month of june. >> scarlet, thank you. scarlet fu in the newsroom. >> facebook shares are hitting a new record after its blockbuster quarterly report. second-quarter revenue surge -- are you ready for the number -- 61% from a year ago. let's bring in cory johnson live in san fran. made this quarter so strong? erik still has not joined facebook. >> i was unaware. i took the afternoon off to watch "the view" so i didn't have the opportunity to go through the numbers until late last night, early this morning. there is a lot of impressive .hanges going on in facebook we expected it would continue. we see important changes in the way they do business. we looked at the nascent payments business and thought, gee, if they could grow that -- it ise zynga actually falling for this company is much more advertising -dependent and

horton report quarterly results.port quarterly results. we're also going to get when you run a business, you can't settle for slow. that's why i always choose the fastest intern. the fastest printer. the fastest lunch. turkey club. the fastest pencil sharpener. the fastest elevator. the fastest speed dial. the fastest office plant. so why wouldn't i choose the fastest wifi? i would. switch to comcast business internet and get the fastest wifi included. comcast business. built for business. that's why it's important to focus on the overall trends. because was it weather in the south, what was going on in the midwest, with 97% strength. so it's important to step back, look at year over year trends and realize that, like you said before, it's been about ten months of slowdown. >> if you were king for a day what would you do about it from a policy perspective? >> that's a good question. you know, i think at the end of the day you have to lower credit standards a little bit. you have to get off of -- >> you want to lower

horton was clear about his concerns. he said, we're not asking for special treatment or incentives or subsidies. all the small business community asks is simply to preserve and protect internet commerce as it exists today, which has served all businesses remarkably well. i have to agree with him. another vermont small business owner explained that her company, logic supply, cement money building a -- spent money building a quality project. they spent money building a project, not in purchasing preferential internet access. she ailed i had said without an open internet, our business wouldn't even exist today and yet it's one of the best small businesses in vermont. both of them testified that the success they've achieved with their online business would have been difficult to accomplish if the internet had been a pay-to-play world when they initially launched their sites. think of all the companies whether in vermont, mass marks or any other state or next year, the year after, the year after, the year after that when they

look, it's not the home builders pushing the dow and overall market higher, though dr horton did hitbut it could be home prices, that is the return of home equity. home prices have been rising on a year-over-year basis for 27 straight months, now 19% below their peak of 2006, but up 26% from their drop in 2012. rising home prices have brought millions back above water on their mortgages, though between 6 and 10 million are still drowning, depending on which particular survey you choose to believe. still that's about half as it once was, borrower are not drawing on this equity. no spike in cashout reifies, but when they feel more secure in their single largest investment, they may want to invest in that home again, do some remodeling, which of course benefits the big retailers, and puts money back into the economy. borrowers could also be taking advantage of savings from the major refinancing boom that occurred in 2012 and 2013. they didn't spend then, but may now the record low rates, they put cash back into our pockets to spend, to investment, and to fuel the economy. kelly? >> dian

horton has lost 11% of its value a day after reporting a drop in quarterly profits and really missing analysts expectations. driving down other home builders like lennar, pulte and kb home. dunkin' down off session lows. the company reported profits that matched wall street estimates but -- but, sales fell short as the company blamed bad weather for some of its results. back over to you guys. >>> investors not buying the weather excuse when it comes to dunkin' today. >> we're wondering if we are. reaction now in our first on cnbc interview with nigel travis. got to say, appreciate you coming back but i read a portion of the transcript of your conference call with analysts today. you talked about the early spring rain that you attributed to some of the sales disappointment. people don't drink coffee when it's raining? >> well, bill, this is a business that is based on ritual. if people are disrupted by very high storms or rain, they don't get out their car, they don't stop off at the drive-through, that disrupts their normal pattern. but i also said on the call the weather wasn't a maj

i spoke this morning with vicky horton. this is her fourth time visiting with us on this occasion. she drove from wichita to honor her father, joseph. we thank all of you for helping us pay tribute to these journalists. they are truly among democracy's heroes. i would now like to introduce our chief operating officer here at the newseum institute, who will introduce our guest speaker. >> good morning. kathleen carroll knows the dangers facing journalists from at least two perspectives, as executive editor and senior vice president of the associated press and as vice chair of the board of the committee to protect journalists. as the top news executive of the world's largest independent newsgathering agency, she is responsible for the news content in all formats from the ap's 280 two bureaus across 110 countries. we gather today to rededicate this memorial and recognize those who died in 2013, but we should note that in april, a photographer for the associated press was killed and a reporter was injured in afghanistan. miss carroll has been a leader on many journalism friends, challe

- there were three african-american players who played major roles for that 68 , including willie horton and grace brown with earl wilson. so, even as the community was erupting -- understandably, the issues of that were present in detroit were the same ones present in so many cities around the dash around the country back then, you had the african-american population of detroit rallying around the tigers because of those three african-american players, and i think that's a nice story. >> george? on yourl take a tangent question -- i think that democracy is served because tempered and this is served by baseball. because there is so much losing in a 100 62 game season, every team that goes to spring training knows it will win 60 games, lose 60 games. you take the whole year to sort out the middle 52. if you win 10 out of 20, you are by definition video card, if you win the 11 out of 20 you may play in the postseason. -- democracy is the system of the half loaf, baseball is the system of the half loaf. >> speaking of losing, i covered the 88 orioles, who lost their first 21 -- 28 games in

michael dukakis was willie horton. you remember john kerry throwing the medals over -- well, maybe you don't remember -- throwing his fake, not his, somebody else's medals over the white house lawn and sliming his fellow vietnam comrades. with obama it was perfect. they had a 14-year-old with no record. and he's very likable. [laughter] you have to admit it, he's the most charismatic person the democrats have run for president in hi lifetime. i hear president thought john f. kennedy was charismatic, but obama is definitely the best they've produced in my lifetime. i think the only people that you're going to have fainting at a hillary clinton rally will be the chubby gals from now who can't take the heat. [laughter] but americans just keep telling poller ises they really like obama -- pollsters they really like obama personally. you wish you could like his polices. obama would probably make a great next door neighbor unless you were chinese in which case he'd always be over borrowing something. [laughter] borrowing. bu

i spoke this morning with vicky horton. this is her fourth time visiting with us on this occasion.e drove from wichita to honor , joseph.r we thank all of you for helping us pay tribute to these journalists. 'sey are truly among democracy heroes. i would now like to introduce our chief operating officer here at the newseum institute, who will introduce our guest speaker. >> would morning. knows thearroll dangers facing journalists from at least two perspectives, as executive editor and senior vice president of the associated press and as vice chair of the board of the committee to protect journalists. as the top news executive of the world's largest independent newsgathering agency, she is responsible for the news content ap's 280rmats from the two bureaus across 110 countries. rededicateoday to this memorial and recognize those who died in 2013, but we should note that in april, a photographer for the associated press was killed and a reporter was injured in afghanistan. has been a leader on many journalism friends, challenging government moves to .imit press freedom in focusing a

horton pulte, we're expecting a push-up in the second quarter, but we haven't heard a lot from the buildersng to get the auto sales. ford and gm are going to be reporting tomorrow. my favorite big international company, caterpillar, there's a great example of the global construction, global demand for businesses overall, because almost 60% of their businesses is overseas at this point. >> favorite sector right now? >> i like technology, i like biotech. materials has been doing well. and believe it or not, in this last quarter, consumer services has been doing really well. >> you're investing for growth. you're not investing defensively. >> i'm invest aftering for total return. i'm always focused on growth and income for my clients. >> metals have been up, aluminum's been strong, all of the steel stocks have been strong recently. >> thank you, gentlemen. good to see you. and as you can see, staff sergeant ryan pitts, the latest medal of honor recipient ringing the closing bell as we close out a day when the s&p 500 index is at a new record high. but stay tuned. a lot of earnings coming your