we are at "hp discover."his is your annual tech conference and this is your last "discover" as one hp. is it a little bittersweet? meg: it is a little bittersweet because the company has been together for so many years. but i have confidence that this is the right thing to do because our markets are changing at lightning speeds. it will allow us to be more agile and focused and responsive to customers. it is a landmark, it is a moment in history, but i am really optimistic about the future. emily: what do you think the biggest challenge is going to be of being two separate companies? meg: first is we have to get to being two separate companies. this is an enormous undertaking. this is the biggest separation that has occured, as far as i know, in american business. once we get there, we have to launch the two companies successfully with two new leadership teams, with two new boards of directors. in many ways, clean sheeting two new fortune 50 companies. i think we are well set up. you never know until you actu

hp has not been as aggressive as some of the other companies at this point. hp has been behind.o it is possible that this , could be an aggressive move to cut down cost and be more competitive out there. emily: how optimistic are you? obviously, when i spoke to make, she said, whenever jobs, these are hard choices. but it certainly seems that she has been able to make these hard choices, not the least of which was flooding of the company. how optimistic are you about the future of hp enterprise with meg whitman at the helm? >> a lot with depend on how they position his company in the future. pivot it?y give it -- if they have the idea of outsourcing business, they're going to have a tough time. but if they do cloud analytics, then they have a shot at getting back to growth. emily: our senior analyst at bloomberg intelligence, thank you so much. i want to bring the president of microsoft back in. we were talking about partnerships and working with such in the download. and talking about hp, there are a lot of changes going along and the tech industry. what makes you so hopeful ab

how optimistic are you at about hp?y: when you have a business with a bad reputation and a manager with a good reputation. it is the reputation of the business that survives. with her reputation -- as a politician and leader of ebay, she is in one of the toughest places in all of business and technology. hewlett-packard is performing a lot worse. oracle competing head-to-head. cisco competing head-to-head. they have done ok in this timeframe. cisco has been ok in this timeframe. you see losses for hewitt packard on the revenue line. what meg has maintained all along as we are doing a lot of acquisitions are going to spend a lot of money to grow our top line. they have not been able to do that yet. theirat we see is prediction for the future of the business when it is to businesses is also going to be bad and require continued restructuring. emily: turning now to china. stocks drop for a second day. the biggest two-day loss in three weeks. i spoke with bill gurley earlier today during a panel discussion, and asked him ab

hp ept -- hp enterprise will handle the data analysis and hp ink ink covering computers. >> you typically don't do this unless you plan on selling the company. >> they say it is a bad sign for hp. >> it is bad for hp who has found it impossible to find a ceo that they can get to turn the company around. >> they say the move will enable a more competitive and sustainable cost structure. >> eventually they can make profitable separate companies out of it. but it is a different company. it is not hp as we knew it. >> they will plan to layoff 10% of the 300,000 person global workforce. abc7 news. >>> social media spying? tonight twitter is accused of reading your private messages, and that's not all. also ahead -- >> you have been purring and acting like a normal cat. >> that's good. the four-legged victim of the fire receiving an outpouring of social media support. how this little guy is doing tonight. >> and caitlyn jenner is taking important legal action. what she is now asking a southern california court to do. >> first, here is a look at what is coming up on "jimmy kimmel live" on the --

hp ept -- hp enterprise will handle the data analysis and hp ink ink covering computers. >> you typically don't do this unless you plan on selling the company. >> they say it is a bad sign for hp. >> it is bad for hp who has found it impossible to find a ceo that they can get to turn the company around. >> they say the move will enable a more competitive and sustainable cost structure. >> eventually they can make profitable separate companies out of it. but it is a different company. it is not hp as we knew it. >> they will plan to layoff 10% of the 300,000 person global workforce. abc7 news. >>> social media spying? tonight twitter is accused of reading your private messages, and that's not all. also ahead -- >> you have been purring and acting like a normal cat. >> that's good. the four-legged victim of the fire receiving an outpouring of social media support. how this little guy is doing tonight. >> and caitlyn jenner is taking important legal action. what she is now asking a southern california court to do. >> first, here is a look at what is coming up on "jimmy kimmel live" on the --

hp hasn't been able to navigate that change.er it works in the long term, that is anybody's guess >> okay, russell. we don't know where they will come from but hopefully they will be able to find more work. russell hancock, thank you so much. >> always a pleasure. >> thanks. >>> now to metrologist mark. i know fall is about a week away but it feels like it. i love the feel we have outside right now. >> it was great to dust off the rainfall graphic for today. >> i like seeing the green. >> yeah, we have a lot of green on this. the clouds definitely moved into the region. you probably notice d that change yesterday afternoon. for areas -- for the central portions of the bay not much in terms of rainfall. holesburg up nearly a quarter of an inch. some more rainfall amounts we are adding to these totals right now. here is the coverage. basically a lot of action to report. here is a closer look at the radar. rainfall forecast up in the north bay. we could have amounts down to a quarter of an inch. here is the current rainfall pattern

at hp. will have to stay on message and defend the good points at hp. melissa: byron, do you agree with that? >> well, i'll not sure if she is going to be able to do that facing a democratic opponent. bigger problem, just business in general. in the past business, people have been successful in business have thought that they could be president. it did not work for mitt romney who talked about his business career all the time. sometimes didn't even mention that he had been above of massachusetts, go back 20 something years to ross perot. won 19% of the popular vote, nothing in the electoral college. we have not elect ad business person president on the basis of their business record for a very, very long time. melissa: harry truman. you bring up mitt romney, he seemed to apologizing for it in so many senses. she instead grabbed ahold of it as donald trump. i can make hard decisions. keep discussing this in the future, no doubt thanks to all three of you. david. david: keeping to politics, fo

hp has an exposure to russia. we have a big russia business between hp inc and what will become hewlett-packard enterprises. europe is up and down. some quarters you feel quite bullish, then you take a step back. i will say i think the strongest economy in europe from our perspective is the uk. the austerity work, now coming out of that, i think david cameron and his government have done a remarkable job on setting that economy on the right foot. >> jim has a question. >> jim cramer here. >> hey. >> when i looked at the analysts, i said enterprises seems okay, kind of the same as when we talked to you last. i was surprised that hp looks like it will be valued at level that's so dramatically lower than any other hardware company that i'm attracted to, particularly with what you're giving is a good balance sheet. can you speak to the idea that maybe hp is not as bad as we thought it was about a year ago? >> well, listen, i think one of the underlying thesis of this split was we'll be more focused on the businesses,

hp is leading to companies in november.nterprise will handle the stock with a cybersecurity, cloud technology in hp's other business will handle the pcs and printers. the latest job cuts on top of 55,000 workers hp laid out this part of a restructuring that began three years ago. separately, general electric will move 500 jobs overseas out of the u.s. because congress did not renew a government program that allows foreign companies to borrow money to buy u.s. products. watch bowling in some of the other big names. nicole: those are some of the big ones. investors look at earnings from two familiar companies today. fedex will report before the opening bell. but the leveraging of all reported profit of $2.46 per share on revenue of $12.3 billion we should be higher year-over-year. investors looking for more clarity from fedex on how plans to handle the soaring number of packages this holiday season. we heard yesterday from ups and they would hire 95,000 workers. fedex has announced shipping rates at the start of 2016. rates w

at the time, was named hp's who wholesaler of the year. how can it be they were doing all this business of iran, hp was calling it the wholesaler of the year and you didn't know what was going on? >> the wholesaler of the year that you're addressing was doing company with another business in china. that wholesaler was not honest in the dealings with us, and we were not into the other country. it's why they cut off the company in a very thorough investigation and it's why charges were never filed. because it became clear that this third company was not honest or trustworthy. neither was the other organization that they were doing business with. it shouldn't have happened, obviously. >> ms. fiorina, we're going to have to leave it there. thank you so much for talking with us, and safe travels on the campai campaign trail. >> thanks, chris. >>> up next, we'll bring in our sunday group to discuss the latest controversy involving donald trump. >>> plus, what would you like to ask the panel about the changing state for the gop race? just go to f

but the value of hp stock shares plunged nearly in half. senator barbara boxer's ad makers hit these themes hard when the california democrat handily defeated fiorina in 2010. >> as the ceo of hp, carly fiorina laid off 30,000 workers. >> reporter: today fiorina's rivals are using the same play book. >> the company is a disaster and continues to be a disaster. that's because she bought compaq. it was a terrible deal. and it really led to the destruction of the company. >> i led hue let a. >> reporter: fortune reports that some rival firms, weathered the bursting of the tech bubble much better with ibm posting more sales growth averages and shedding less in stock value. like-wise, dell shaw its shares rise by double digits during fiorina's tenure at hp and shares of lexmark soared by nearly 30%. >> would you have done anything differently? >> not really. that's not to say that i was perfect. i'm not. we all make mistakes. but the big things i got right. the big things about the fact that you can only grow if you innovate, particularly as a t

at the time was name hp's wholesaler of the year. so how did it be they were doing all this business with iran? the hp was called the wholesaler of the year, and you didn't know what was going on? >> the whole searer of the year you were describing was doing business with another company, that is dove business with iran. clearly that wholesaler of the year was not honest in their dealings with us, and they were not honest in dealings with this third company. that's why the dealings with this organization were cut off immediately. it is why the company cooperated with the s.e.c. in a very thorough investigation and it is why no charges were ever filed, because it became clear that this third company was not honest or trust worthy. needs was the organization they were doing business with. it shouldn't have happened, obviously. >> ms. fiorina, we're going to have to leave it there. >> yes. okay. >>> safe travels on the campaign trail. >> thanks, chris. >>> up next, we'll bring in our sunday group to discuss the latest controversy involv

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hp record, but if you do care about her record, it's a bad record.t in this relative way, relative to the way things were at that time, but even relatively it was relatively terrible and she talks about it empirically. she lost $60 billion of investors' money at the time. in business there's a report card, that is her report card and even if we were to look at it and say, okay, so what about to ibm? what about to dell? by orders of magnitude worse and even more so, when you think about politics, she's selling something. when she was the ceo of hp she sold something and told investors targets what she was was going to do, and she missed them. she missed them repeatedly to the score of $2.4 billion in missed targets. now, whether the public cares about those numbers, that's a very different question. >> david, where she showed passion, she is not accepting any of the fact checks on this planned parenthood thing and she really doesn't want to -- she's basically saying details don't matter, you should be outraged. >> to andrew's point, it's not clear tha

>> has she held any ceo position since hp?> she's not only never held it, she's never been offered. >> when her tenure at hp was raised as an issue in the 2010 senate campaign against barbara boxer, this commercial was aired, and it significantly changed the direction of the race. the race has been neck and neck until this hit the airwaves. >> ceo of hp carly fiorina laid off 30,000 workers. >> when you're talking about massive layoffs which we did, perhaps the work needs to be done somewhere else. >> fiorina shipped jobs. she bought a million dollar yacht and five corporate jets. >> i'm proud of what i did at hp. >> carly fiorina outsourcing jobs and outsourcing for herself. i'm barbara boxer. >> the media got on to it late in the campaign, thanks to barbara boxer and her team raising them. but to tell you the truth, among intimate friends here, that ad was too tepid. who light. too mild. there's so much more that could have been brought across in that campaign. she would hire platoons that would question her and challenging

hp had to struggle through that tech downturn.o, you know, yeah, can you question her numbers and her math? i guess so. but you know, has to be in the context of the times and how much turmoil the board was in. trish: rich goodstein, your take on carly fiorina's performance as ceo? >> i'm glad liz said what she said, rather than being attributed to some democratic hack. look, it's worse. carly fiorina -- trish: don't worry. >> it is worse in this regard. she says i'm a non-politician. she is a non-politician because she ran for the senate in single best year the republicans have had in any of our lifetimes and lost by over 10 percentage points, granted in california. and the thing that blew her out of the water was an ad, that said during the time that hp was laying off 30,000 jobs back then, not just what was reported yesterday, she tripled her salary, she bout five corporate jets and sent jobs to china. that is a horrible mixture. as of last night, makes -- trish: donald trump. listen to this. this is trump on carly. >> the comp

meg whitman who was a fantastic ceo of hp. had to sell off the final vestiges of that in the final weeks. >> yeah, but meg whitman just laid off 30,000 people. by that standard, you could be making the same comments about meg whitman. >> these aren't people that meg whitman hired and fired. this is the legacy of carly fiorina. this was compact stuff they should never have bought. meg is trying to get hp back to where they were and it's really a shame. yeah, these are the ill-faded legacy -- legacy of the ill-faded acquisition that has haunted them still. most businesses were shuttered. >> jeffrey sonnenfeld, thank you so much. >> thank you very much. >>> up next, what secret treasure trove did i find at the reagan library that would help several of the candidates vying for the gipper's job? heart health's important... ...so you may... take an omega-3 supplement... ...but it's the ingredients inside that really matter for heart health. new bayer pro ultra omega-3 has two times the concentration of epa and dha as the leading ome

but my point is this, i think one of the things that we'll have to deal with is her record at hp. i have a column in the "daily beast" this week about it. i think net/net it's positive, but it is something she will have to address. she will have to go to silicon valley and wall street whether she did a good job there and whether that record can be trabs la translated in to a record of being president. >> she's better at defending this record than other business titans have. whether donald trump's bankruptcy or mitt romney -- i think there is more staying power to her. >> adam mentioned she's a good campaigner. she'd made an excellent president in my mind. >> she did lose in california. >> but she's getting a lot of support and i think she'll sky rocket in the next poll. but is she a good fund raiser. you look at her super pacs, jeb bush has 30 times what she has. >> but that's a snapshot in time. ben stein, you could make the argument now if she properly seizes the moment, that could change. what do you think? >> well, there is so much money sloshing around out there. just astound

she said hp will be smaller and more focused than hp is today and we will have a broadant deep portfolio of -- broad and deep portfolio of business. >>> tech stocks are up. hp's shares were up. right now, stocks up 4%. a lot of people always ask me, they are cutting jobs. why is the stock up? it's sad news for a lot of people but for investors and the business side, it's the company cutting costs and that means the bottom line goes up and the stock reacts positively to that. >> it's interesting to see how hp, sort of this really big ship, having to act in modern times. it's interesting to see how -- >> they are having to reinvent themselves to try to compete with all of the youngsters in the business. >> aren't we all, pam? [laughter] >> yes, we are. >> thank you. >>> having rain in southern california. in ten minutes we'll get a good look at all of the damage caused by the flooding and mudslides there. the smelly mess left behind at a popular beach. >>> it's round two. the presidential candidates facing off for another debate. we'll break down what to expect and the big-named donors rig

software business for hp has gone no. and then on the pc side they've got competition from chinese, taiwanese pc providers on the margins. it's going to be a tough road to hoe. >> is there a way to lace this story with some sugar? >> there's no sugar. i think the growth she talked about is in doubt. necessity make products that are the products of the past. buzz feed had an article, an interview with tim cook, where he talked about how a whole lass of consumers that may never want a pc. he is okay with that. hp is to use his phrase such a backwards looking company. >> what pan did she have, john? what were her choices other than to downsize? >> it's not so much the downsizing that gets me. it's the gradual downsizing over time. i mean, it's one thing if all at once you say here's a activision for the company, we're going to hop this, we're going to chop that, and then we're going to grow, but the demoralizing affect of every quarter after quarter year after year and chopping people, saying you're almost done, then you're

challenges at hp are captured in the multiple today.rprise against the likely comps, cisco or ibm, cisco net app, and anything against comps on that side, there is upside to the stock from here. we'll see if investors are excited enough about thatted t anything. >> the big debate coming up tonight, carly fiorina, i was looking on twitter, somebody said that this is still her mess, ten years later, 100,000 jobs have been lost. do we hold her responsible? >> shouldn't i just ask you that question, andrew? you wrote about it extensively. >> i get to ask the questions in this case. >> you do, really? even of me? >> even of you. >> all right, all right. partially, yeah. i'll go partially. what's the analyst have to say, i don't know. >> yeah, the same, partially. the compact acquisition was not strategically sound, but there's been so many other things happen, autonomy, palm, ebs, you can't blame that all on carly. >> she's probably not responsible for the demise of the pc single handedly, i mean -- >> right. >> you know? it's been tough. al

time for hardware manufacturers like hp.f a lot of people. probably anybody who was ceo would have ended up laying off a lot of people. the big problem with what she did is she looked at a number of difficult declining or low-profit businesses and decided to expand them. she bought compaq, as donald trump pointed out. hp had a personal computer business that was not very profitable so, she went out and bought a much larger personal computer business that was also not very profitable. the theory was by becoming a bigger player they'd be able to get economies of scale and make higher profits and that turned out to be wrong. in fact they had a business that was not very impressive and was larger. >> and that's what she says on err top line numbers. the revenues went up, size of the company doubled. you bought this company that then was a disaster. >> right. and so it could have been worse. hp didn't go bankrupt. it could have been bankrupt. but the question is was she a terrible ceo or merely mediocre or bad ceo, neither of tho

she did not destroy hp. that seems to be the consensus.the lines are they had ae hp was, lot of changes and the criticism was that a lot of people got laid off during her tenure. pimm: she does not dispute that. and when she did the compaq deal, it was a challenged technology market. mark: she understood this and has been a fierce advocate of what she had to do given what she was handed when she took over hp. there was the controversy between her and some back-and-forth over what happened when mark hurd was there. it and she has described i'm paraphrasing -- she dealt with what she was handed as best she could at the time. as the chart pointed out, it was not a complete disaster no matter how much the rivals say so. an associated press article perkins this and tom from kleiner perkins was on the hp board when she was there. he criticized her buddy told the associated press it was a mistake to dump her. he says she thinks she is brilliant and has got it unwarranted criticism. pimm: do you think she is getting extra criticism and scrutiny be

hp lost its half its value and laid off half her workers. after she was fired in 2005 the company stock went up. summed -- carly fiorina defend her record. >> let me give you an example. when you have two companies that each employ literally tense upon tens of thousands of people. you don't need two cfos. one of them has to go. you don't need general councils. one of them has to go. on the other hand we grew the sales force. >> reporter: carly fiorina says if she win it is nomination then hillary clinton will not be able to play the gender card. on a lot of so-call women's issues carly fiorina holds the same position as her male counter parts. >>> a hearing set today about plans to move a convicted sex offender to concord. frazier smith spent the last five years in state hospital. now the state wants to move him into a residential neighborhood. many rents say -- residents say they are worried about their kids. he had been living in solano county before prison. >>> people suspect beating a minnesota vikings fan. shows them attacking -- the vi

with money from hp's highly successful printer business.she met resistance within hp, she pushed through and got the deal anyway but at a terrible price. profits plummeted and even when they started rising again, they lagged behind competitors. hp stock value dropped by half. 30,000 workers were laid off and less than six years after she took control, fiorina was fired. wall street had little faith and on news of the dismissal hp stock jumped up 7%. >> her business record and record as an executive is pretty bad. this was a merger that was not well-executed or orchestrated. she was taking a big pay package at the time cutting people. >> reporter: the the severance package worth $42 million fueled the anger among stockholders and employees alike. she said she only got half of that but a decade down the line, she staunchly defends her deal for compact. >> years later, it was the clear the merger was a very good idea. >> reporter: her successor meg whitman says. >> she was trying to do what i am trying to do, make this company competitive. >>

hp expects to/as many 30,000 jobs. rick up looms as part of a $7 billion restructuring that will split the tech giant into two separate entities in november. hp enterprise will supply business is with high-end technology. hp ink will sell personal computers and printers. the job cuts are 10% of the company's workforce, and will mainly affect the company's enterprise services group, which has been struggling for years. the ceo likens this to water draining from a bathtub. before you can grow, you have to fill the bathtub up. the recent cuts will add to the 50 4000 that have already taken place. they are the most among u.s. companies this year. china pointing a gambling outsider to turn around its macau casinos. the unit cost new president and ceo will begin effective november 1. he has advised the beijing government and run property developments in china. he has challenges ahead. he will have to find a way to stem declines in macau amid tightening government restrictions. not to mention, china opening a 2.7 billion pari

it's -- at hp they did some dealings that went through a middle man that ended up in iran.n somehow work through all those things. i think she can be in the top three. i think it will be in a very short term i think she can move into third or fourth place after trump and ben carson. >> you know, she's shooting for the top of the ticket. make no mistake. how do you see it? do you think she was in any way hurt by the allegations? >> not at all. consider who is accusing her of her business dealings. i call her a cardless carly. everybody is playing a card except her. she's not playing her gender. she's not talking about her identity. she's relegating victim status to the morgue because she's saying she's so confident in herself. she doesn't have to lead with the woman factor. it makes hillary seem kind of old in the sense of the 1970's old. i am woman hear me roar. it's so irrelevant these days. what i find interesting is she got the mainstream media to finally cover the planned parenthood videos. and the reason why they're covering the planned parenthood videos is not because

very unfortunate for the hp worker but it's also unfortunate for her.trump written all over it. let's be honest. this is something he's going to come after her hard on, i think. it gives all of them a chance to create themselves as these job creators and frame themselves in that light and she's going to have this sort of saddled on her. no matter what you do she's really intrinsically linked to hp at this point. >> sabrina, wouldn't that be like blaming ronald regan for some of the problems we're seeing with the syrian refugees today? that's about the same length of time. >> put it into perspective, neil. i think it's absolutely fair game to talk about her record at hp, but this is a woman who takes lemons and turns them into lemonade. she is no doubt going to take this opportunity tonight which she knows is coming, i'm sure she's prepared for, as a spring board to talk not only about the successes she had at hp and her successes at at&t and lucent technologies. it's not like she was a one trick pony. this is an opportunity for her to say, you know what

there's a lot of where is the beef of her experience as ceo at hp., we've had business people running, you know -- getting elected to office. michael bloomberg, harry truman. are people being too hard on carly fiorina right now? we know the company did become successful eventually. >> michael bloomberg is an unqualified success story and only ran for mayor. she's running for president of the united states, and it's very different. liz: you skipped over harry truman, who is also -- >> well, harry truman was a senator and vice president before he became president. he had a long career in politics before. that's something else. liz: what do you think? >> antiestablishment candidates are the order of the day, you've got her versus donald trump, i think her business record is much more defensible, but i think what people are responding to is she's coming into debates, knowing her facts and being able to communicate and articulate effectively, i think people love that. and second of all she's a female candidate who is not running as a female candidate. she

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envision. >> and she said that all of the tech companies were failing. >> that is true. >> and yet hperperformed all of the other companies a at this time. >> and it is '99 and the dot-com bubble was about to burst, and not a great time for tech, but ibm and others fell but not as far as hp, and lucent where she was a rising star, the stock prices went up, but there was a lot of funny accounting going on at that company, and debt financing, and loaning the money to customers to buy the equipment, and that has gotten criticism. >> and carly was asked about that and a strong defense of the record at the debate, and listen to this. >> i led hewlett-packard through a difficult time, and the worst technology recession in 25 years, and we doubled the size of the company, and we quadrupled the top the line rate, and tripled the rate of innovation. >> is she right? >> well, you know what, you can spin the numbers many ways, and the profits were down on her watch, and the share price of hp went down 50%, and most people in tech business e feel it is a failure. >> and top line growth is not the

more jobs may be cut in november, the ceo says the job cuts will make hp more competitive. 55,000 hp jobs have been cut since 2011. toys are us -- toys r us will hire fewer workers this christmas season. they will hire 40,000 around the country. that's 5000 fewer than last year. most of the jobs will be part- time. toys r us will interview this month. ups will hire 95,000 workers. that's the same as last year. they are offering full and part- time jobs from november through january. you have to apply online. >>> it's 10 minutes after 4:00. there was a fight outside levi stadium. >>> it could be make or break night in los angeles. the second republican presidential debate. >>> good morning, a nice looking 280 in san jose, right there with the taillights moving away from us. we have things in the east bay i'll tell you about. >> all quiet before the storm? , i wouldn't call it's a storm. we'll have the update on totals and temperature. . >>> welcome back to the mornings on two. republican presidential candidates are coming to california for the debate. >> below the impact the debates c

she defended her time at hp and even invoked steve jobs. take a listen. >> as for the firing, i have been very honest about this from the day it happened. when you challenge the status quo, you make enemies. i made a few. steve jobs told me that when he called me the day i was fired to say hey, been there, done that twice. it's also true that the man that led my firing, tom perkins, just took out a full page ad in the "new york times" to say he was wrong, i was right. i was a terrific ceo. the board was dysfunctional, and he thinks i will make a magnificent president of the united states. >>. >> interesting that the tech bubble and silicon valley, jobs, all these -- the board of hp becoming a back drop in the political narrative here. >> yeah. i thought it was a really effective comeback and totally fai fair. s. >> i think the ding on her and her corporate tenure is probably she's lacked that ability to win people over and to work within the system to change things and get things done. if i were her opponent on that stage, that's what i wou

in the case of hp and others we do have to make tough decisions relative to our own business. we believe that coming off of a record quarter the pace of change is going to require us to manage our business more effectively. we are thinking about more portfolio decisions. i don't want to put the company in a position where we forward investment too much so we take a large action. we're going to drive productivity and take advantage of the technology to digitize a company which we think will make us more efficient. we are comfortable with that. emily: do you see more layoffs? chuck: we look at geographies and those that are performing well be invest in. are struggling we have to adjust. we have to adjust our expenses. those are the things we will focus on. emily: cisco is a global company, lots of different geographies. what do you think of the broader market volatility weirs eating here and in china -- we are seeing here and in china? chuck: china and russia have been geopolitical issues to date. we have brazil that has been a challenge. then you have mexico and india that have

hp is also releasing financial projections for hq inc. the printer and pc business. it believes the markets for those products will remain tough for the next several years and quarters. the business is expected to report free cash flow of up to $3.3 billion last year. half of which can be returned through dividends and buy backs. they fell 1% in after hours. it's up about a fraction. david faber will have an interview later today at squawk on the street. that's at 9:05:00 a.m. eastern time. >> thank you for that. fiat chrysler struck a tentative deal with the unite aud toe workers union on a new contract. they're not disclosing terms but the pact will eventually end the two tier pay system which gave new hires less than vet can coworkers doing the same job. they'll brief members in the coming days that will vote on whether to ratify the deal or not. let's look at price action, up 0.2% in trade. >> if you're looking to send parcels and packages you'll have to do more. it's going up by 4.9% effective in january next year. the hike applies to domestic, export and import

shares of hp stock are up 3% in early trading.course news of these layoffs are a blow to the employees. the palo alto based company, hp, is is cutting between 28 and 30,000 jobs, representing about 10% of the workforce. company says it will save $2 billion. most coming from hb's enterprise group responsible for consulting and call center business, but also cuts in the computer and printer side. hp splitting into two publicly held companies in november. ceo meg whitman says the cuts will make hp more competitive and heed to stronger business. sales have sagged for years and the company has struggled against its competitors. so some analysts say these cuts aren't unexpected and the company minted more layoffs may happen after the split occurs. this may not be the end. >>> 6:40 is the time. dean of stanford university graduate school of business repsych because of a scandal involving an affair. garth plans to step down next summer but still stay on faculty. university says he started a relationship with professor fills' wife after th

hp instant ink.n't it be great if hiring plumbers, carpenters and piano tuners were just as simple? thanks to angie's list, now it is. we're making hiring anyone from a handyman to a dog walker as simple as a few clicks. you don't have to be a member to buy their services directly at angieslist.com but members save more on special offers. angie's list is revolutionizing local service again. visit angieslist.com today. >>> he's not just the people's pope. he's also the pope for the next generation. pope francis is wildly popular among millennials. the pontiff is also celebrated for his penchant for mingling with youth and making time during his whirlwind trip to connect with young catholics. chris hale is the co-founder of "millennial" and joins me from philadelphia. chris, what is it about this pope's message that resonates so well with young people? >> pope francis said since the beginning, no to a society that excludes. exclusion is a value young people in particular want to fight against. that mes

hp helps business move on all the possibilities of today. and stay ready for everything that is still to come. when you're not confident you have complete visibility into your business, it can quickly become the only thing you think about. that's where at&t can help. at&t's innovative solutions connect machines and people... to keep your internet of things in-sync, in real-time. leaving you free to focus on what matters most. >>> two american hostages held for six months by houthis rebels in yemen are free this morning. the two men along with four others flown to oman. scott darden and sam farron were taken in march. cause for celebration, but also concern. let's get latest from cnn correspondent nick paton walsh. >> reporter: the elation of the families of darden and farron are contrasting with the other family still waiting. there was word three americans were on the plane yesterday, but that plane had been organized by the omani government which played a role by the white house for the release. three saudi arabians and one british citizen