we have intel's earnings. their chief financial officer and the conference call coming up with citigroup to get to the bottom of what happened today with vikram pandit. maria bartiromo now with the second hour of the "closing bell." >>> and it is 4:00 on wall street. do you know where your money? hi, everybody. welcome back to the "closing bell." i'm maria bartiromo on the floor of the new york stock exchange. take a look at how we finished date on wall street. tripl triple-digit move, ending up 126 points. up about 1% on the dow. nasdaq also powering forward. technology one of the leadership groups today. the nasdaq composite up on the session 37 points. the s&p 500 also in the green today with a gain of about 15. it's not all about today's rally and not all about markets. wall street preparing for citi's conference call coming up at 4:30 p.m. eastern time, 30 minutes away, after the shocking resignation today of ceo vikram pandit. you can hear that call straight away live coming up in a few minutes. we'll ta

liz: intel, we have the intel cfo, beating the top and bottom lines. findwhat lies ahead for the gigantic chip maker and how concerned is intel about declining pc sales. not just in the u.s., but globally. keep it here on fox business. [ male announcer ] this is steve. he loves risk. t whether he's climbing everest, scuba diving the great barrier reef with sharks, r jumping into the marke he goesith people he trusts, which is why he trades with a company that doesn't nickel and de him with hidden fees. so he n worry about other things, like what the market is doing and being ready, no matter what happens, whh isn't rocket science. it's just common sense, from td ameritrade. liz: let's get right to nicole petallides down under for the new york stock exchange looking at the two big names that have just reported. nicole: that is right. let's take a look at the dow components in the technology realm. the nasdaq selling off, names managing to come back. looking first at intel which beats the street, take a look at how that is faring right now ibm also anoth

intel and ibm and apple all had problems over the past few days. their stock -- is this a trend or is it a midseason shakeout we are seeing? >> i will be honest. i will take the contrarian role and say a midseason shakeout. people are having the opportunity now to reload these stocks. people who did not get in in the big rise over the last six months will funnel into the marketplace and as long as we don't continue to get this awful guidance and start to see sales and revenue stay stable when the stocks back off 10% or 20% like we are seeing, that is the place to get in. dave: kyle harrington, see you in a few minutes when the s&p futures closed. breaking news. thanks very much. liz: we are 16 minutes away from that earnings call, the explanation from the ceo of google, 14 minutes away. google's earnings hitting the tape after midafternoon and a surprise to all the earnings, that conference call 4:30 eastern. we will bring that to you live to hear what he has to say. stuart: to one of the biggest problems is dwindling educated work force. how did w

liz: when you talk intel, intel will tell you it is the second-largest market right now where people are buying pc for pretty significant there. >> their unemployment is around 5%. demographically it is a great, young working population for people who want to work in a productive economy. liz: what should i buy to capitalize on that? >> we like to retail stocks. you have owners and developers. great access to the major mark market. the buyers and owners developed the opportunities. you're seeing stocks with double-digit earnings growth. the ability to raise rent doubles. you don't see that in other markets around the world. liz: year to date it looks pretty good. head and shoulders pattern, but it has certainly broken out to the upside. pretty much a high of the year. looking at some of the names you own overall. you have simon properties, they should be fee, westfield group, their mall is everywhere. we talked to stephen and peter, the ceos, they're pretty stunning that comes to what they believe is a really good time for commercial real estate. >> you think about the strong class d

before the intel and i.b.m.results ruben reported earlier in the program, the technology sector was up 1.6%. energy was up 1.5%. some of the recent weakness in but steel and chemical makers were rallying today. cliffs natural resources jumped 7.1% to a one-month high. cliffs mines the coal used to make steel. shares have been trending lower since february as steel and coal prices have dropped with chinese demand falling. dow chemical has been trending lower since april. today, shares popped 5.6%. the company also has raised worries about slowing growth in china. other stocks hit by global growth worries reversed some recent losses. caterpillar was up 2.6%. united technologies rallied 1.9%. today, u-t-x announced it will sell its aerospace electric power systems business for $400 million to a french jet engine maker. health insurance company united healthcare did the equivalent of sneezing today, and shares fell. the stock was down 1.1%, making it the worst percentage performance in the dow jones industrial avera

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they have intel's cfo, stacey smith. ashley: more problems for foxconn that manufactures apple's iphones and cell phones. er this in trouble for underage internses. the company performed an internal investigation and found an indisclosed number of interns were indeed between the ages of 14 and 16. china's legal working age is 16. a chinese labor rights group says foxconn is at fault for not vvrifying the age of its employees prior to allowing them to work. the under age interns were reportedly working at the factory for three weeks. the company has begun sending them back to school. these claims come win month after foxconn facility in a province was accused of improperly putting interns to work on iphone accessories. controversy over foxconn goes on. lori: let's continue with our market coverage as we do every 15 minutes. let's check the stock market with nicole petallides on the floor of the new york stock exchange. you have another story involving apple. this one apple wants us to hear about? >> this is one to celebra

certainly, when i look at semi space and intel's numbers. they've been going lower, the stock's been going lower. ibm did catch me a little bit off of what i expected. i thought they put up better numbers. when you really look at some of the numbers, you can see where they're getting strength. they're getting strength in the emerging markets. when you look at the bric countries, the sales are strong there. that's where the growth comes from. they've been focusing themselves. if you look at the stock, nice trajectory to the upside. pulling back today. i think this stock is going a lot higher. >> would you buy it here? >> absolutely. >> you would use this pullback as a buying opportunity? >> 100%. >> intel down, apple down, cisco downgraded. are you worried about tech? >> absolutely not. there's components of tech that will continue to struggle. anything related to pcs. the hardware. you talk about ibm, look at the hardware revenues, they slipped under $4 billion. what does that tell you about what you will hear from hewlett-packard and what y

we mentioned intel before, lower profit, lower sales, intel is down 3%. thaa's a big drop for a spot like that. another big loser ibm, profits down, it's going to seles computer hardware, it says, and that thing is down 4%, nine bucks lower for ibm. target says it will match the on-line price you find at amazon. this season it's up a penny. and merrill lynch cutting into the bank of america profits and b of a is down. halliburton down on a slowdown in u.s. drilling. right now halliburton stock is down at 34. and more on the drilling slowdown in the next hour by the way. much expected, better than expected-- much better, better than-- much better than expected report on september housing sales, and building permits. here is a look at the shares of the home builder pulte. it's up. i got it right. the dow is down 42. twitter was buzzing during last night's debate. and social media plays a big roll in politics, and millions of tweets. what does the instant reaction say who won. a surprising accurate measure from a teenager who came up with a unique polling sy

. >> huge intel customer. good ceo. >> we'll see. would she have been a good governor or senator? >> she was running for governor and carly fiorina for senator. they might have brought california back to reality but it's still out there someplace. >> texas instruments downgraded to neutral from positive at susquehanna research, citigroup downgraded to neutral from buy, interactive corp. upgraded to buy from hold and allstart downgraded to market perform from outperform, target cap remains $40 a share. >>> coming up at the top of the hour we'll kick off the fourth quarter with jeremy siegel and tell you where you should be putting your money to work and one of the fed's proponents of quantitative easing, charles evans joins us, and some of the other prospects for our economy. "squawk" is back right after this. if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investin

disappointing numbers out of intel and ibm.when we come back. >>> welcome back to the program. lackluster sets of numbers by tw of the world's biggest technology companies. ibm reported lower than expected sales, while intel saw earnings drop 14% in the third quarter. john fort has this report. >> ibm and intel both reported after the bell, and by the time those earnings calls were over, both stocks down better than 3%. let's take ibm first. looking for revenue of $25.7 billion. ibm turned in 24.7. eps was just about in line. at least operating earnings per share. wall street wanted $3.61. ibm turned in $3.62. so what was the revenue problem? let's start with software. that was a bit lighter than the street wanted. software very important. that also contributes to overall earnings. ibm has had a couple of big deals fell out at the end of the quarter, in september, in the americas, that hit their numbers. they hope to get those deals in in q-4. hardware was down 13%. hardware not a huge part of ibm's business, but when it contin

his intel people? or is he too busy campaigning in sin city?a, you cringeed a little bit when we listened to president obama in vegas saying again, al-qaeda is dead -- bin laden is dead, al-qaeda on the way out. scary, though. >> dana: this morning i read the "new york post" and i noted he quoted president obama saying that line at the democratic national convention. i was going to bring it up in this segment. i didn't realize president obama said it again yesterday. you would think even stump speech that should be refreshed and keep up with the times. they are talking to multiple audiences at the same time. in this case, he is talking to the american troops, our allies, fighting with us. our enemy and directly to the american people. those messages aren't necessarily always going to be the same. but it seems careless to suggest that al-qaeda is on the wane if in fact your general last night on "60 minutes" is saying the opposite and we have evidence that al-qaeda was behind the attacks in libya. >> eric: andrea, the guy in the backseat of the

intel community says it could have been related to the video.m line is this is the intelligence committee knew, state knew, the white house refused to know. there they refused to know and they are still ret fusing. at this point i haven't heard anybody in administration actually use the name al qaeda. because al qaeda is suppose to be gone. it's van quished, it's dead. the president strangled it with his bare hands. al qaeda is back and it killed our ambassador. megyn: taking your thoughts on that on twitter. let me know what you think. what's going on here @megynkelly. the associated press publishes this photo. what kinds of leg action if any can her family take in this family that finds their daughter in an ap picture that appears to show something that's embarrassing and inaccurate. that's next. begin. tomato, obviously. haha. there's more than that though, there's a kick to it. wahlalalalallala! smooth, but crisp. it's kind of like drinking a food that's a drink, or a drink that's a food, woooooh! [ male announcer ] taste it and describe the

i'm looking at intel today. maybe they're each company specific but there may be something going on in the willingness of corporate america. you see five different strengths? >> yeah. well, i think you've got a couple of things. you've got a lot of people underinvested. the hedge funds are badly underinvested and underperformed. and they're coming to end of year figures and that's why there was an expectation down here that in the final week or so of october, you might see a real rally. it looked like it decided to come early. >> thanks a lot. opening bell after the break. bob... oh, hey alex. just picking up some, brochures, posters copies of my acceptance speech. great! it's always good to have a backup plan, in case i get hit by a meteor. wow, your hair looks great. didn't realize they did photoshop here. hey, good call on those mugs. can't let 'em see what you're drinking. you know, i'm glad we're both running a nice, clean race. no need to get nasty. here's your "honk if you had an affair with taylor" yard

shares of intel down more than 12% for the year.arlier in the week they announced those earnings noting weakness in the global economy. like you said, we heard it from other companies including mcdonald's today. potentially more worries there for intel. >>> talking of techs, courtney, why don't we get out to the nasdaq now. bertha, we're hearing a lot about tech wreck today. >> we're seeing sentiment move everything here, too. session lows. apple weakening in particular. you have to look at apple as a sector unto itself. it has such a huge weighting within the nasdaq. it is dragging us lower here. take a look at apple as we're down around $615 and change. that is the lows that we've seen since the beginning of august. google definitely the wreck of the week, down over 8% for the week. extending losses here today, moving closer. we're starting -- going to need to watch google as it moves down to the $630 level. all of these tech stocks are well below their 50-day moving average. they're technical support areas, that all means they're

intel community last friday tried to take the fall for it. people aren't buying it. something happened in the seven days where the white house and the intel community weren't talking to one another. >> bob: i want to know the key question, where did the video come from? where did the story -- sorry, that's greg's question. >> dana: that is the key question. >> bob: first, the reports you read here that is such a big suspenseful surprise, i read three of those in the newspaper. particularly the bombing at the gate. number two, i notice the request of the administration, when you say they left them, they left them out there to die. based on what? based on anonymous people in the administration probably republicans who are, people who are on civil service and give the administration -- >> dana: we don't know that. >> bob: it's not as outrageous as using unnamed sources. >> andrea: we don't know. >> andrea: there are officials on the record conflicting with the record on national intelligence. completely different stories. it's contradicting with susan rice, secretary pa

i love intel but i don't know that intel is ready to start moving to the upside. i still think that is something in the future that will kick in for intel. they have done an absolute magnificent job of acquisitions. software services. they are looking at 2015 and a game plan of $20 in earnings. that is based on acquisitions that continue to hit the bottom line for them. this is another name where they will be able to explode and show people what they are doing in the emerging markets. >> i feel like everybody is just so down on chip stocks in general. >> really down if you look at the chart. at some point you have to think there is a floor. i don't feel like this is unraveling the way hp is. so to me the bar seems low on intel. >> to mention hp i think it is apples and oranges. i don't think you are comparing them in a way. they have to structurally readjust. i think they are reacting and will get there. on valuation after all the guidance that they have given analysts have come down. deutsche bank dropping. at the end of the day the street has priced in a lot of

what will intel and ibm tell us? we'll also hear from intel's chief financial officer just moments after the numbers are released. that's all ahead on the "closing bell." for over 60,000 california foster children, extra curricular activities help provide a sense of identity and a path to success. joining the soccer team. getting help with math. going to prom. i want to learn to swim. it's hard to feel normal, when you can't do the normal things. to help, sleep train is collecting donations for the extra activities that, for most kids, are a normal part of growing up. not everyone can be a foster parent... but anyone can help a foster child. >>> you know, usually when a company's chief executive officer abruptly resigns as vikram pandit did today, it's bad for the stocks. not the case today. >> citigroup off its highs but still up about 0.7 p%. heavy volume in the stock. remember, citi will host that conference call at 4:30 p.m. eastern standard time. keep it here on cnbc. we'll have that live for you. bill. >> all r

congressman nunez, you're on intel. you believe that they didn't tell you or share intelligence with you? >> absolutely. state department refused to show up. to brief us. let's not forget new n the last few hours they're saying that al-qaeda was not involved. well, i don't believe that either. >> we don't. congressman, we're relying on you to get to bottom. thank you for being with us this evening. coming up, the u.s. looks to help libya combat islamic extremists. is it too little, too late? later, did the cia know from the get-go the attack was an act of terror? harris faulkner. let's get you back right away to "justice." >> we will not waiver to see justice is done for the terrible act. make no mistake. justice will be done. >> president obama promising to bring those who attacked the consulate to justice. where is the justice? retired lieutenant general and fox news military analyst tom mcanerney joins us. good evening. >> good evening. >> judge jeanine: do you think we'll get justice? >> no. the fact is there will b

congressman nunez, you're on intel.elieve that they didn't tell you or share intelligence with you? >> absolutely. state department refused to show up. to brief us. let's not forget new n the last few hours they're saying that al-qaeda was not involved. well, i don't believe that either. >> we don't. congressman, we're relying on you to get to bottom. thank you for being with us this evening. coming up, the u.s. looks to help libya combat islamic extremists. is it too little, too late? later, did the cia know from the get-go the attack was an act of terror? ♪ chances are, you're not made of money, so don't overpay for motorcycle insurance. geico, see how much you could save. huh? you're not my dad ahhhhh!!! hey honey, back feels better, little dancing tonight, you and me? hey boy, you wanna go for a walk? dr. scholl's pro inserts with shock guard technology relieve different types of lower body pain by treating at the source so you're a whole new you. where is everybody? that's not your dad. go pro with dr. scholl's. >>

we heard that from the cfo of intel.where do you see the biggest weakness and strength for your particular business? >> generally macro issues and tents to the world wide in north america, europe, china, you are seeing a similar trends, logic driven by the fiscal cliff, the currency challenges in europe, or the slowdown in china. my expectation is all three of these trends will get resolved over the next few months and the macro will recover. it won't be violent but will recover in 2013. from our perssective, we service 20,000 customers in every conceivable application and as we rollout new generation of product which is a generation ahead of a competition, we are very excited that it is starting to deploy and actually doubled in terms of revenue, this past quarter compared to the previous. liz: you are in the defense industry and we are facing the fiscal cliff where defense would be cut or some of spending on it. are you concerned about that? >> only in a minor way because there will still need to the upgrades and is th

intel and microsoft. moving off the annual lows, both stocks making ground after getting hammered coming up with earning reports people didn't love, couldn't embrace whether it was outlook or a miss on one level or another. both in the dow and the nasdaq. oil falling $2 today hitting the lowest level in more than three months. look at the most traded oil etf, the united states oil fund at 3.5% loss and higher-than-expected volume. the move puts us on track for the biggest percentage loss in three weeks. a fifth day of consecutive decline. gold down a whole bunch of commodities are down, it is not a great day for the market on many levels. we have traitors at the new york stock exchange, cme group and the nymex. give me something to be excited about. >> we are up 80 points, we made some bounce around 1400 on the s&p looks like support level. most people are covering some shorts and taking a shot at low-priced stocks. since we started hammering the stocks on friday and they things have gotten pretty cheap a

he just said that president bush knew intel and could have stopped 9/11?idn't say president bush. i said the administration. c.i.a. knew -- >> dana: they weren't allowed to by law? that is an outrageous thing. you should take it back before we get out of the segment. >> bob: i'm not going to take it back. >> andrea: i'm surprised you're not more outraged or the president isn't outraged or biden. they should say heads should roll. we'll figure out what will happen. they want to fix it like it's a broken toilet. >> eric: two weeks after the attack, september 25, barack obama went to ton podium and blamed the movie. two weeks later. now they're saying we never got -- >> andrea: they're numb. >> eric: two weeks after it happened they didn't have intel still? >> bob: there are events all over the world. by the way, i hate to get it down to secure politics, people voting on this is negligible one. >> dana: politics, liberals blame the intelligence community. directly ahead. bolling breaks down economic issues from last night's debate. right back with that on "th

congressman nunez, you're on intel.ieve that they didn't tell you or share intelligence with you? >> absolutely. state department refused to show up. to brief us. let's not forget new n the last few hours they're saying that al-qaeda was not involved. well, i don't believe that either. >> we don't. congressman, we're relying on you to get to bottom. thank you for being with us this evening. coming up, the u.s. looks to help libya combat islamic extremists. is it too little, too late? later, did the cia know from the get-go the attack was an act of terror? [ male announcer ] wouldn't it be cool if we took the nissan altima and reimagined nearly everything in it? gave it greater horsepower and best in class 38 mpg highway... advanced headlights... and zero gravity seats? yeah, that would be cool. ♪ introducing the completely reimagined nissan altima. it's our most innovative altima ever. nissan. innovation that excites. ♪ nissan. innovation that excites. wooohooo....hahaahahaha! oh...there you go. wooohooo....hahaahahaha!

>> first it was intel, this time amd.md taking down its revenue forecast as the pc market sees its first decline in shipments in more than a decade. dell and intel trading near 52-week lows. >> best buy on the defensive this holiday season saying it will match internet competitors' prices and deliver out of stock store items for free. >>> and we've got some ipad mini breaking news here. reporting the unveiling, taking place october 23rd, three days ahead of the microsoft tablet, two days ahead of earnings. >> jpmorgan chase reporting better than expected third quarter profits of $1.40, including the debit value adjustment. then there's wells posting q3 earnings of 88 cents, a penny above. but revenues missed street expectations. a lot of discussion, guys, about to what degree the top and bottom line really mean. anything here, jim. also some comments from dymond saying the housing turned a corner. >> when i go over the two different quarters, it's clear that wells fargo is not making much -- i'm going to schlag my own pos

we have gone down a long way in our intel.to change, because that let us be more mobile. >> is there a circumstance in which you would see that you could vote for a resolution to enter a war in iran? question? on iran? >> we have to do everything we need to do to make sure that iran does not a nuclear weapon. israel is our best friend. we need to protect israel. yes, obviously i could if it were in the strategic best interest of the country and the strategic best interest of israel, which is often the country. we need to keep iran from a nuclear weapon, but we need to do everything -- sanctions seem to be working now. when the best things is that we have involved other nations in basically forcing iran to allow people to come and. >> just to clarify, i think i heard you say that under extreme circumstances you could a vote to support israel in going to war against iran. >> it would be extreme circumstances. we need to do everything we can, and there are lots of things we can do even apart from sanctions. this goes back to bein

it was really technology and the intel numbers cannot "after the bell" yesterday. lots of action in the currency pits. the euro muzzling and touching a one month high versus the dollar today. look at this level climbing to $1.31 over growing speculation that spain will eventually request a bailout and the pact will be clear so the dollar was actually climbing against the yen but didn't do so well against the euro. that is a fresh four week high and we have hints of further monetary easing by the b we hav we have a splash of headlines out of europe and better than expected housing data that can halt. all the while as you mentioned before ibm down 5%. that is 75 points in the dow and one point in the s&p. they could not push the market down. right now macro focus, not micro focus. we need to stay in for the ride. liz: are there more positive than negatives? consumer sentiment seemed a little better and good retail sales numbers a couple days ago. >> we have seen good numbers vair and stabilizing numbers in china and the markets continually underestimating the tailwin

keep in mind the white house is blaming intel sources. now we know reportedly what the cia intel chief said. we'll tell you. and a heart-warming story to end the week when a autistic girl gets the chance to sing with her hero. ♪ singing] ♪ megyn: the "associated press" dropped a small libya bombshell today reporting that the cia station chief in libya told washington, quote, there was no protest, within 24 hours of the terror attack in benghazi. the cia station chief in libya told washington that there was no protest. that raises a whole new round of questions about why the administration went out with the story blaming an internet video and the protest there over for the murder of four americans. joining me now alan colmes, the host of the alan colmes show and mike gallagher who is a syndicated radio host and a fox news contributor. let's put this in perspective. we have the state department saying we knew it was terror. we have the administration saying intel sources told us it was about a video. we now have -- we already had leaks that

let's start with intel.hip giant warned of a billion dollar revenue miss pointing to enterprise spending and emerging market softness as the reason. those two areas had been perennial bright spots as the consumer pc business had flagged. analysts for 3.2 billion in revenue. on ibm, a trick quarter. sales got a boost, and spun off retail solutions business in the quarter. guidance is key. ibm, we're looking at the services backlog among other factors. >> citigroup's vikram pandit surprisingly stepping town from his role as ceo today and it's effective immediately. maria bartiromo sport with mke pandit and he said it was his division to resign. all higher. up. a short word that's a tall order. up your game. up the ante. and if you stumble, you get back up. up isn't easy, and we ought to know. we're in the business of up. everyday delta flies a quarter of million people while investing billions improving everything from booking to baggage claim. we're raising the bar on flying and tomorrow we will up it yet aga

after the close, intel and ibm both sold off on earnings news. intel dropped mostly because of its forecast. ibm fell on a revenue miss. yesterday, investors applauded postive earnings news. that led to a rapid rise in stocks. gold and oil also joined the green parade. target is aiming for online price matching this holiday season. the president's housing re-fi program is expected to help one million home owners. and gm is working on an electric caddillac for 2013. todd horwitz of the adam mesh group is here to give us a trader's take on the big topics of the day. good morning to you. > > good morning to you. thanks for having me on. > > what are your observations so far on some of the tech earnings and earnings from banks as well coming in? > > i think the earnings picture has been fair. remember, we downgraded a lot of these earnings coming in, so the beats are coming on less-than- expected numbers to begin with. goldman sachs yesterday had good earnings, but the stock sold off late in the day. we're starting to see some of the other banks and

if the intel community with the state department and what the white house knew. it down to one story. >> bob: romney gets in the weeds and no answers. he will lose the race. >> andrea: one of the greatest challenges that romney has is not confusing the viewer at home with the details. it is confusing topic. he didn't answer kerry's question at hofstra university when he said what did you do to secure the consulate the previous two times it was attacked? he dropped the ball. the important of why did he cover it up but why did they fail to secure the consulate in the months leading up to it. >> eric: romney has to asked what did you know, when did you know it? we need answers before november 6. >> dana: how can romney keep himself out of trouble? but obama has harder time. he has a record to defend. in 2008, i'll close gitmo. now things he promised in 2008 and has not done. he has to answer for the fact under his watch al-qaeda has metastasiseed and become something else. i think president obama has a harder time tonight explaining his record on foreign policy. >>

of promise and they provide us energy and they provide us innovation, and they start companies like intel and google and we want to encourage that.

and the later intel that the initial intel said it was spontaneous or suggested that the protest andhe assault on our diplomats and the killing actually of chris stevens was spontaneous and their later assessment that it was opportunistic, they wanted to do, it they saw their chance with what was going on in cairo, the anger of the people over there about the video? >> i think the honest answer is they still aren't exactly sure how this came together. the official used with me the phrase a flash mob with weapons, but it's clear that the group included serious hard core terrorists that were probably member of the al qaeda in magrab, a group of very extremist people in benghazi. there were people who were unarmed who were kind of along as looters who wandered in and just took stuff. it was kind of a rag tag group, why they think it wasn't as coordinated as some reports suggested. i think one point for me, chris, as somebody who follows intelligence is these guys are assembly shards, different fragments, and they don't all fit, and they sometimes contradict each other and when things li