>> let's get straight back to jackie deangelis. >> thanks. we're looking at shares of cummings today. lowering their 2012 revenue outlook saying they will be in line with 2011, not the projection they were looking for, an increase of 10%. >>> look at caterpillar, 4.5%, caterpillar, down 1.5%. >> let's get more on the trading action here. brian, you have been watching the trades. >> cummins is a great example. they raised their dividend and lowered their guidance. looking for signals. companies have a lot of cash but business activity slowing. a perfect example. it's been a u.s. focused day. i actually want to focus on the dow because it just swung negative in the last 20 minutes or so. alcoa, first down more than 3.5%. numbers weren't bad, supply-demand, china, plastics weighing on this.

let's go to the markets desk where jackie deangelis is there with the latest. >> we are taking a look at shares of onyx pharmaceutical. it's up more than 10% right now, this is after the fda approved its blood cancer drug. it was up after bristol-myers-squibb failed to phase retrial. we're at 52-week highs with onyx today. >>> straight ahead on "power lunch," a homeowner's revenge, foreclosing on the banks. that story n plus much more on the markets on that down day, including more details on general electric, the stock is up more than 2% after reporting result this is morning. but before the break, five big friday winners on a down day. #a#a#a#a#a#a'9#a+=#a#a#a#a#a oma +g#a [ male announcer ] it would be easy for u.s. olympian meb keflezighi to deposit checks at the nearest citibank branch. ♪ like this one. ♪ or this one. ♪ or, maybe this one. ♪ but when it's this easy to use citibank mobile check deposit at home...why would he? ♪ woooo! [ male announcer ] citibank mobile check deposit. easier banking. every step of the way. >>> a very busy week of quarterly earnings reports coming t

we go back to jackie deangelis at the news december. >> thanks for that.t warning. second quarter revenue expected to fall 11%. the quo was looking for a rise of 3% plus or minus 3%. this is well below what they were expecting. the company saying the issue softer than expected channel sales late in the quarter in china and europe. mandy and bill. >> thank you very much, jackie. guess what, galaxy is not as cool as the ipad. that was enough for samsung to win a big lawsuit against apple. a fairly unusual legal ration rationale. >> samsung won in case where apple claim it too closely copies the ipad. high core judge pointed out that samsung's tablet is thinner and has unusual details on the back and if it stopped there it would have been nice for samsung but he didn't. the judge also said the galaxy tab is so thin, it is, quote, almost instanttial, unquote. and to the informed user, he said, samsung's tablets, quote, do not have the same understated and extreme simplicity which is possessed by the apple design. they are not as cool. the overall impression pr

jackie deangelis has that for us. >> i want to draw your attention to facebook and zynga on a percentage. fb down for a third straight day hitting record lows, and zynga filed a class action lawsuit accusing it of failing to disclose a rapid number in users. take a look at these numbers reporting after the bell, electronic arts, take two interactive, and bmc software. >> thank you, investors ank shutly awaiting clarity from the federal reserve announcement. >> don't think we'll get that. >> took the words right out of my mouth. >> let's let history be our guide. here is the s&p 500 since 2008. we are going to add in some of the qe, up 37%. but then fell 9% once the program ended as you see there. then the second round came in november of 2010. want s&p up 10% that time. most recent, the shift in bonds and buys called operation twist trying to push long term rates down. >> so how might the markets look 24 hours from now and what happens if the fed does nothing? joining us is steve neiman. i'll start with you, steve, you don't think the fed will do anything, why? >> i think they have great

let's join jackie deangelis with the rest of the day's headlines. >> the markets are lower as you saide investors still digesting the jobs report and the start of the earnings season when alcoa reports after the bell this afternoon. meantime today could be a problematic day for some users whose computers were infected with a virus more than a year ago. to find out if your computer is affected shlg you can go to www.dc.g.org, although we're hearing there's not much noise from this problem today and also it seemed too good to be true. gas prices were declining. they have now climbed for three days in a row. that's according to aaa. still the courage average is $3.38 comparing to $3.55 a month ago and $3.62 at this time last year. >>> and finally president obama is expected to call on congress today to extend the bush era tax cuts for one year for families making less than $250,000 a year. the bush cuts will expire, of course, on january 1st without congressionala, part of a so-called fiscal cliff that includes automatic spending cuts. the republicans have called for benefits to be extend

. >>> now, to jackie deangelis. >> thanks. one you will appreciate, herb, i'm not so sure.ares of hertz today. the company will allow its customers to rent porsches in select california and nevada markets and doesn't even cost that much on a weekend day, you can get to a porsche as low as $250. >> which one, jackie? if it's this box ter, you, is this -- ee, is that a reel porsche? >> probably not. we are down 2.8% despite that good news. >> when they get the gtrs 3 on the hertz lot, give me a call. >>> coming up, a sunshine stock for all you x-men fans out there and disaster in the making, another pennsylvania town. before we go to break, a quiz, which states s&p 500 head quartered companies had the worst stock performance the last year, the worst state for the stock market in the past year. here are four of the bottom five states. the worst, next. a passionate, and the foundation on which merrill lynch has been built. today, our financial advisors lead from a new position of strength. together with bank of america, they have access to more resources than ever before. a ste

jackie deangelis joining us with names that make up the earnings hall of shame. >> great to see you. season gets under way several big misses, supervalu, progressive and wd-40. that's a little concerning because this earnings season more important than ever with investor confidence. in the spirit of learning fast, a decades' worth of misses to highlight some of the worst quarterly performances. first up aol time-warner. in 2002 after the dot-com bubble burst, a new rule on accounting for goodwill. booking a loss in it turned out to be over stated. aol time-warner reported nasty quarters that paved the way for the split in 2009. next up a look at general motors. gm showed signs of trouble before the financial crisis. in 2007 it reported a profit decline that came from a writedown on deferred tax credits. that nearly $40 billion loss sent shock waves through the auto industry. who can forget wachovia's miss in 2008. 23.9 billion loss was linked to acquisition. when it burst agreed to be taken over by citi group. ended up accepting a better bid from wells fargo. last but not least, aig,

jackie deangelis joins us. good evening. >> good evening, larry.ce department issued superceding indictments against four suspect presumed to be mexican nationals for the murder of u.s. border patrol officer brian terry. the department inspector chairman says if it opens an investigation into the treatment of whistle blowers. the dispute between the committee over the fast and furious case documents led to the house contempt citation against eric holder. it looks like just a small number of internet users were affected by the malicious software that could have kept them off line. experts at the highest levels of government say cyber espionage is the biggest aggressor the new wave is china. david faber investigates the chinese threat in a new documentary here on cnbc tonight. >> what is the worst case scenario? >> we continue to bleed our intellectual property until we can't compete with china specifically. now they can compete in cars, durable and nondurable goods, mostly research and development stolen from the united states. if we lose it, we los

cnbc's jackie deang less has details in what's moving your money. >> good morning to you.a problem for some users whose computers were hacked more than a year ago and internet providers that service them after the fabulous began shutting down servers atted my night that were a temporary safety net to keep infected computers online. to find out if your computer is infected go to www.dcwb.org. >>> one way that millions of folks beat the heat over the weekend was at the movie. "magic mike" came in at number five. "savages" number four, with a little more than $16 million. "brave" hanging in there, $20.2 million. the raunchy teddy bear movie "ted" pulled in $32.6 million. but the winner, hugely at the weekend box office, the amazing spider-man. $65.5 million this weekend. more than $140 million since its release last tuesday. eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like

let's head to the nasdaq where jackie deangelis is following it. >> we're bucking the trend at the nasdaq the semi-s are holding up, rebounding from yesterday, up about 1%. i want to draw your attention to ni cron. and seagate reported yesterday missing on its profit and revenue and had concerns for the current quarter. it is down 3%. and dendreon plummet iing today. it is looking to cut 600 jobs. and apple, up nearly 3% on the day and having the most impact on the nasdaq 100, apple, there's some reports out there and bernstein coming out today saying it might be looking to see a stock split and enter the dow. so we're seeing that stock trade higher and potentially its impact is what's keeping the nasdaq higher now. back to you. >> rick santelli joins us now, tracking the action. how is the bond market affecting the bonds report? >> if you look at a 24 chart, highly unchanged would be the answer. if we're going to pick sinatra songs to describe our meetings, i like our guests, "strangers in the night." i think i would go back to nancy's, "something stupid." that's just my opinion. back to

. >>> let's go up to the nasdaq where jackie deangelis is watching the market. >> the nasdaq 100 it'snd google positive today pushes us in to the green. look at the core groups in technology, seeing weakness. as a matter of fact, the semis down about .9% on the soks and the big names, intel, amd, micron, trading lower today and weakness in the software names. in the red today, as well. looking at the bio tech group, weakness there. not faring well today, especially on a percentage basis. but there's a bright spot to the market here at the nasdaq and that is netflix up nearly 14% on the day. ceo coming out saying, in fact, subscribers watching more than 1 billion hours of online video last month. that was globally. so some investors looking at the stock saying is it time to get back in? it looks like they might be. back over to you. >> wow. thanks very much. >>> let's recap the big head loons driving the session. u.s. fixed mortgage rates have fallen now to new record lows. freddie mac says the average on the 30-year loan, get this, dropped to 3.62%. that is the lowest since long-term

let's bring in jackie deangelis with a question of twitter. >> they want to know if it will beat 96 cents want to get to the question. let's take a look at those options and the trade with john. >> dr. j, what do you think? >> obviously the guys disappointed horribly a quarter ago and the stock has made a recovery. now got back up last week to nearly $54. but today, ahead of the earnings, not seeing much in the way of option bets. hardly at all today. so we'll have to wait a little closer to the earnings report to see what ends up happening. >> okay. tonight at 8:00 p.m., i'll take you inside the billion-dollar industry that's ripping off the rich and items becoming an arena for thieves. here's a new york woman targeted for her vast art collection. roxanne's family met mike in 2005. they hired him to manage their new york city property. unknowingly giving him the per nekt opportunity. >> everybody adored him. he did wonderful things for surely and i relied on him completely. >> this was a guy you trusted. >> totally, totally. >> when aunt shirley passed away, he promised roxanne that the

. >>> folks, thanks to jackie deangelis.ext up, a naacp crowd boos presidential candidate mitt romney today. there anything he could possibly do to win over the african-american vote? we're going to ask the head of the naacp, mr. benjamin gellis when we come back. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ all ] i'm with scottrade. [ male announcer ] this is our beach. ♪ this is our pool. ♪ our fireworks. ♪ and our slip and slide. you have your idea of summer fun, and we have ours. now during the summer event get an exceptionally engineered mercedes-benz for an exceptional price. but hurry, this offer ends july 31st. . >>> welcome bac

jackie deangelis is at the nasdaq with some of the details. >> we are looking at the nasdaq down aboutalf a percent right now. also looking at the stocks index right now. down about 1.2%. we have decliners out outpacing advancers 3-1 on the nasdaq 100. having some of the most negative impact i want to draw your attention to some of the tech heavy weights, microsoft, intel, oracle, google dragging the nasdaq 100 down the most. also expecting earnings after the bells. watching the stocks to see how they are faring. herballife lower. vertex and seagate trading a little higher. we are going to be watching that one very closely this afternoon. >> thank you very much. we are also watching shares of general motors trading lower toy. down by 1.5% after ousting its controversial global marketing chief. the stock has been halved since approaching $39 earlier last year. those losses, of course, let's remember, are on the taxpayer dime because the government owe as half billion shares of general motors stock. what's next for gm shares? let's talk numbers on that. on the technical side, carter wert

now the nasdaq and jackie d deangelis. >> absolutely. the nasdaq down 1.6% at this point. a sea of red here at the nasdaq. i did find a bright spot. if you look behind me, semi conductor index down more than 3% and the stocks we're watching seeing spillover. part of the problem was that jobs number this morning and also we got some profit warnings of seagate, the hard disk drive maker after the close yesterday and a software company this morning and speaking of software, citrix and f5 taking it down more than 7% each, 8% in that case and the pc makers not immune today. looking at hewlett-packard, dell, even apple today lower by just about 1%. i promised a bright spot. two when i was looking before. netflix teetering today but bruised and battered rim, go figure. up 4.4% on the day. sue? >> thank you very much. >>> time for head leans as first reported by cnbc's herb greenburg, navistar says it will introduce a new clean engine technology for epa standards. sally beauty was upgraded to a buy. it is in the green by just about 2%. as a matter of fact, one of the few stocks th

. >> let's get out to jackie dean deand deangelis. >> stock getting hammered today, halted down 35% before that. now it is trading down about 68%. there are published reports that it could file for bankruptcy as soon as today. we are going to be waiting for reports on that. >> jackie, thank you very much. heading towards the close, market dash we are trying to come back here a little bit. down 41 points on the dow. >> they call him dr. doom. nuri tweeting the perfect storm he predicted for the global economy earlier this year is coming to fruition as we speak. we are going to tell you what he says happens next. >> after the close get ready. alcoa takes the lid off the earnings and we will speak to the company's ceo, klaus kleinfeld. we will talk to him before he talks to analysts. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades ar