jc penney lost 41 sentds a share compareed to a profit a year ago.but the shares are still trading at the highest levels in three years. >> looking at the numbers. they're loving this guy, and willing to give the supporters of under performance until they show better numberss. >> he's not the only one optimistic. johnson said, we are confident that the sifrmified business model will offset the business decline to meet or exceed our 2012 earnings guidance. some worry others will go elsewhere for the bargain. nightly business report, new york. >> no doubt investors have gotten paid to take risk this is year. small caps and technology stocks and emerging markets rocket higher. tonight thinks there's still room to wince. lanz global.com with us at the nasdaq. lancz, how much more room to run here with the s&p 500 with the highest level since june of '08. >> the market wants to go higher. it's hard to say how much. especially with the concern over energy prices right now, thal put a dampener on big progress from here. i would take partial profits and ligh

let's move onto a company that might be impacted by higher oil and gas prices, jc penney.ney reagan is with us now to break it down. >> thanks, brian. so in its first earnings release since announcing plans for complete transformation, jcp posted a gain of 74 cents a share, beating the street. but the key, sales fell again down nearly 5% year over year. internet sales fell too. 3%. that's a weak point as it competes with macy's whose fourth quarter online sales grew 40%. in a pre-recorded earnings web cast ceo ron johnson says consumers so far responding positively to the changes, fashion apparel pricing highlighted ntd monthly book as hope. the shops posting strong double-digit comp increases. lastly johnson notes meaningful improvements and perception from surveys. there's a lot to talk about here. boys, have at it. >> when you said the earnings call -- his beef was that it was recorded -- >> no questions. >> meaningless. why have an earnings call? that's meaningless. i also don't like the fact the company's coming out continues to reiterate guidance. why do they give gu

. >>> and ellen degeneres responds to the group who wants her fired from being jc penney's new spokeswoman> and did you dream of having a baby boy and ended up with a girl or vice-versa? why one expert said he can guarantee the gender of your choice. [ female announcer ] with swiffer wetjet, cleaning better, doesn't have to take longer. i'm done. i'm gonna... drink this... on the porch! ♪ give me just a little more time ♪ [ female announcer ] mops can be a hassle, but swiffer wetjet's spray cleaner and absorbent pads can clean better in half the time, so you don't miss a thing. hi mary! morning! gladys. gladys! [ female announcer ] swiffer. better clean in half the time. or your money back. . >> the latest on the story that fox 5 broke. more customers of a nationwide tax prep company are coming forward. take a look. [ overlapping speakers ] >> they stole our money. >> these are angry clients outside of the office of instant tax service on h street northeast. melanie alnwick has more on this story. >> reporter: since monday, we have been documenting customer complaints. people saying they'r

. >>> jc penney is standing by ellen degeneres. she used her talk show to lash out at the internet group known as 1 million moms. they're calling on conservatives to boycott jc penney for hiring an openly gay woman to represent them. >>> next on this thursday, a close call at walmart. an attempted kidnapping caught on tape. >>> and the rivalry game with so much on the line. duke and my beloved tar heels. and a stunning finish last night. - [spoken in chinese] will you marry me? - [spoken in spanish] will you marry me? - will you marry me? - before saying those words, there's one word every man should know. - leo. - leo. - leo. - the leo diamond at kay jewelers, a fire, sparkle, and brilliance so intense, it is the first diamond ever certified to be visibly brighter, one more reason kay is the number one jewelry store in america. - [spoken in chinese] yes. - [spoken in spanish] yes. - yes. ♪ [ gong ] strawberry banana! [ male announcer ] for a smoothie with real fruit plus veggie nutrition new v8 v-fusion smoothie. could've had a v8

. >> despite a huge cost to revamp its business, jc penney beats earnings estimates but misses on the bottom line. will rising energy prices put a dent in profits ahead? courtney reagan is on the retail beat. let's start with the earnings. >> that's a good place to start. jc penney did report a gain of 74 cents x items but beat the street and guidance which was lowered last month. revenues disappointed at $5.43 billion for the retailer's first earnings release since announcing transformation plans to become america's favorite store. same store sales fell 1.8% for the quarter. total sales fell 4.9%. the exit from the catalog and catalog outlet businesses, but the internet sales for more than 3%, that's weak compare today macy's whose fourth quarter online sales grew 40%. looks like they're down just slightly. earnings guidance remained unchanged. coo acknowledges that jps is "committed to delivering shareholder value through this transformation including the first year." an issue analysts are divided over. ceo ron johnson says jc penney faces tough first quarter comps where february tr

this is a good time to give jc penney some business.hen a republican state representative in florida. we know about alec the right-wing group that concocts laws. they produce these templates and individual lawmakers aller to them slightly and introduce them as their own bills. unfortunately sometimes being a vessel through which billionaires do their dirty work does not require significant intelligence. it would reduce taxes in florida because she forgot about audit them slightly and introduce them as your own. her bill read quote: i said it before and i'll say it again, the main defense democracies lies in the stupidity of those who would destroy democracy like the >>i'm a political junkie. >>this show is my fix. wanna know the difference between a trader and an elite trader? it's this... the etrade pro platform. finds top performing stocks -- in three clicks. quickly scans the market for new trading ideas. got it? get it. good. introducing new etrade pro elite. planned parenthood. anna talked to a conservative and it got a little cont

this is a good time to give jc penney some business.nd then a republican state representative in florida. we know about alec the right-wing group that concocts laws. they produce these templates and individual lawmakers aller to them slightly and introduce them as their own bills. unfortunately sometimes being a vessel through which billionaires do their dirty work does not require significant intelligence. it would reduce taxes in florida because she forgot about audit them slightly and introduce them as your own. her bill read, quote: i said it before and i'll say it again the main defense democracies lies in the stupidity of those who would destroy democracy like the representative from florida. today's worse person in the world! >>i'm a political junkie. >>this show is my fix. [ male announcer ] succeeding in today's market requires decisive action. i go to e-trade and tap into the power of revolutionary mobile apps to trade wherever. whenever. life isn't fully experienced sitting idly by. neither is investing. [ birds chirping ] >>

i applaud jc penney for staying with her. put her to better use. >> couple other ads.he my fair lady one. diet coke was a good effort you said. >> yes. >> appealing to what goes on behind the scenes in movie productions. everybody drinking diet coke. good effort but not great. >> they missed a great opportunity. saluting the makeup people, the grips and the people who are behind the scenes but show me clips of those. i would like to see a makeup person working on a celebrity. i want to see the real stuff not the dramtzation. good concept but not executed in an exciting way. >> you say the kraft mac & cheese ad was the sleeper. ♪ >> hey. come on. >> what? i've been skivving mac and cheese for 75 years. >> i'm only 45. >> i have another family. >> what? >> what? >> especially with kraft which you expect very traditional. for an old guy to say, oh, by the way, i have another family was just very charming. madison avenue spoke by saying we don't care about the oscars anymore. oscars, you need a do over. let's talk turkey. i'm available. >> donny deutsch -- >> he's always a

take vo ---le hblo de la tienda departamental "jc penney" que realizar grandes cambios que van desdeevo nombre... bueno mas o menos, porque ahora se llamara "j-c-p" es decir el acrnimo del nombre con el que originalmente se dio a conocer. ---la compaÑia tambien cambiara su estrategia de mercadotecnia ya que sus directivos aseguran que dejaran de enviar los tradicionales cupones por correo y se enfocarn en ofrecer mejores precios. ---a partir del proximo mes de agosto, la mayoria de las tiendas tambien seran remodeladas de acuerdo a la nueva filosofia de la empresa. cu ---nueva pausa en las noticias y volvemos... take vo ....con la solicitud de una organizacion humanitaria que pide la renuncia del polemico alguacil caza inmigrantes. take vo ---ademas, aseguran que luis miguel se convertira en rey... le diremos en donde...ya volvemos. segment ends cu ---en la poblacion de "east heaven" en connecticut, el jefe de la policia ha renunciado tras el escndalo de racismo que enfrentan varios de sus oficiales... isolda peguero, nos dice si su renuncia seria suficiente para frenar la discrimina

is your price target on jc penney actually $50? ort of price earnings would we be on? >> that's a fair question. it is $50. you know, we have been viewing penney's as a recovery story. clearly a margin recovery story. it's going to take a couple of years to get to an earnings level that, you know, we think warrants a 15 times valuation. that's how we based our $50 price target. we're going to need to see the markers along the path, though. that's clear. we're going to need to see their comp store sales declines that they likely experience in q1 start to moderate through q kwn 2, q3, q4. it's a back end loaded year. it's 2013 where we'll start to see meaningful earnings gains. that's what we value it on. >> thank you. >>> coming up on the program, as daid faber will tell you with some sadness, 2011 has seen very little in the way of m & a moves. as many corporations are holding on to big sums of cash and the corporate bond markets remains flush, 2012 will be a turnaround year for deal making. stick around. we're back in two. ♪ i was

jc penneys coming to box hill. the store is slated to be 85,000 square feet expected to open in the fall. it's never too early to think about preakness. there is big names. maroon 5 takes the stage for extended sets. >>> looking at 695, things looking pretty clear on the one side, not so great on the other. the weather has been clear. let's check this with meteorologist, wyatt everhart, to find out if the great weather we have been having is going to stick around through the weekend. >> how about part of the weekend. the rest of tonight, and most of our saturday, things change big time saturday night in to sunday. first temperatures near 50 still. 50 dc. 45 easton. baltimore 48. frederick 46. wider here, a few fair weather clouds drifting south of maryland, we are set except for this, gathering storm to the west, putting down snow in parts of the upper midwest and the southern northern plains, we got rain showers over spreading much of the country's mids section. this slow moving system set to arrive late tomorrow

trails were blood were found near macy's and jc penney. >> a man murdered in berkeley, and police found his killer working less than block from the crime scene. the victim's wife called police to report a suspicious man standing outside their home last night. her husband went out to confront him and was fatally assaulted. officers spotted a person matching the suspect description walking near the home. they arrested 23-year-old daniel dewitt of alameda. >> espn fired the writer responsible for the racist headline against jeremy lin. an internal investigation revealed the ethnic slur was written online and used twice on air. >> you said unflappable, but if there a [bleep] in the armor, where can lin improve. >> the espn news anchor is on suspension for 30 days and the espn loyalee behind the slur on the network's web site has been dismissed. the headline was in reference to lin's nine turnovers during the loss to the new orleans hornets. in his sergeant public pal, espn wrote: his accomplishments are a source of great pride to the asian-american community including the asian-american emp

about 6:00 last night mall security said they tried to detain a woman for shoplifting at jc penney. she pulled out a gun and they took off by foot and officers caught up with them quickly. facing several charges with assault with a deadly weapon. >>> i woman was struck and killed trying to cross the freeway on foot t. happened just went of santa rita road. it blocked lanes at the time t. is not clear why the woman was trying to cross the freeway. the driver who hit her is cooperating with investigators. the coroner's office is not yet releasing the women's name. >>> a private forprofit college faces a class action lawsuit filed by the students when the school was shutdown. a ktvu news crews was there when the state forced the closure of institute of medical education. the school was not properly accredited. they train them as medical assist is ants. it seeks damaging including repayment to the twice and the loans. >>> it was back in the future today, an all railroad right away is come being back to life. the first phase of the smart train. the voter-approved project is said to be up

we get reports on consumer sentiment and new home sales not to mention earnings from the likes of jc penney before the opening bell. the dow rising 46 to 12,984, the nasdaq up 23 to 2956. the latest apple knock-off in china isn't a cheap copy of the ipad. a company calling itself apple china was caught selling an i-phone gas stove. they took a stove and put a name plate on the front. the company was raided and seized tons of i-stove boxes. fewer are watching the oscars. advertisers are still shelling out a lot of cash for commercials, $1.7 million for a 30-second spot. that's because marketers know they will grab the eyes of dedicated movie buffs so they use the oscars to roll out new products, samsung is promoting a tv that respond to voice and motion and hyundai will highlight its new car. back to you. >> thank you very much. >> 4:47 now. let's check in with meteorologist christina loren. we had two great days of weather. >> we're going to get another one. >> i love this. >> in the south bay we're at 63 degrees. you don't need the jacket this morning. it's downright mild out there. but no

the court decision finding california's ban on gay marriage unconstitutional and she then thanked jc penneyanding by her against a conservative anti-gay campaign to have the retailer drop her as a spokes person. >>> simon cowell told reports he offered beyonce $500 million to be a judge on the "x factor" were, quote, completely nonsense. we all saw that coming, right? >>> 78-year-old fashion guru karl lagerfeld is known for speaking his mind and this morning the blog sphere is ripping him for it. in a french newspaper interview he judged singer lana del ray's looks, quote, not bad at all but questioned whether she had undergone plastic surgery asking about, quote, all his implants. this is worse, lagerfeld caused a stir when despite calling the english singer adele's face beautiful and her voice divine, he called her, quote, a little too fat. it's disturbing. he said controversial things before, the thing that's great is adele has said over and over again, she doesn't care what people say about her. she's happy with the way she is. she's stunning and beautiful and she doesn't care what peop

that's what i stand for. >> and jc penney is standing by her unwaveringly. >> well said, ellen.e funny clips now from the jimmy fallon show. obviously, the first lady's let's move initiative is a big thing. she's in great shape, so she challenged jimmy. >> i love him. >> he went to the white house, not afraid to make fun of himself. they competed in a series of competitions there. they did push-ups. they did -- >> come on, jimmy. >> tug of war. and the first lady whooped his butt. this was on his show earlier this week. she also was on jay leno too, where she punched out roker jokingly. it was funny. good stuff there. jimmy was a good sport. so was the first lady. and she joked in the end -- he said oh, it's not about who wins and loses. and she kind of joked back it kind of does matter because she clearly won. you go, mrs. obama. because she clearly won. you go, mrs. obama. [ female announcer ] have you met your skin twin? covergirl trublend has skin twin technology. other makeup can sit on your skin, so it looks like...makeup. but trublend has skin twin technology to actually

as you can see, there's heavy police presence surrounding the jc penney where the folks are camping out. police have already detained one man for disorderly conduct. >> [inaudible] >> police are attempting to disperse a large crowd already this morning. officials originally advertised 73 pairs of shoes would be sold here. more than 300 are camping out and more are coming. >> everybody likes them. >> want to get their hands on the list limited production shoe the foamposite galaxy. >> to thousand dollars on ebay, so we want to get them now. -- $2,000 on ebay. >> some people are offering $2,400 cash. " i always tell myself i'm going to stop. >> there was a riot at several places across the country over the christmas holidays for the air jordans. >> it is really dangerous. people kill for these issues, literally. it's not worth it for me. >> nationally, there have been reports already this morning of problems at shopping malls. riots breaking out in florida. in hagerstown, police had to be called to one of the malls. at prince george's plaza here, hundreds of people waiting to find out if

trails of blood were found at macy's and jc penneys. one of the male victims was located in front of the theater. the other in an open area near the mall. three possible suspects are being interviewed. >> a city-run teen center in oakland is under fbi scrutiny. federal investigators are suspicious of renovation work done two years ago at the digital and culinary arts academy and want to know why bids for the project worth more than $120,000 weren't publicly solis ited until after the work was completed. oakland's series mayor spearheaded the funding efforts and denies any conflict of interest. >> the inflammatory headline that is making headlines. what a sports web site posted about jeremy lin that has everyone talking. >> saying goodbye to whitney houston. >> coming up at 11:30. the furious debate of the bird flu. >> leigh: i'm leigh glaser. we have another live look at the golden gate bridge for you right now from the suit crow cam, -- sutro cam. it's going to be cold tonight, dipping into the 30s in some locations, and a chance for s

. >> announcer: today's weather is brought to you by jc penney.of february to love at jc penney. >> and as we show you what's happening for your weather on the way out the door, we are talking about a big storm getting itself together. this is sometime tomorrow. low pressure in utah making its way down to texas. it brings a lot of snow for the rockies. rain ahead of it. so here's what we are looking for. denver, anywhere from 6 to 12 inches of snow on down to aspen. we are looking at anywhere generally through the rockies, about three to six inches. the rest of the country, we expect a decent day in the east with showers moving through this morning. look for plenty of sunshine through the plains with above normal temperatures. more rain moves into the pacific northwest. cooler but sunny in los angeles. a high of 66 degrees. >> good morning. we will see a chance for some rain showers as we move into the afternoon. it will not be a steady rain. >>> and that's your latest weather, guys. >> al, don't go away. michelle obama was on with jay leno last n

stabbing at east ridge mall around 7:30 saturday night trails of blood could be seen as macy's and jc penneyre shutdown while police investigated. both victims are expected to survive. >>> protesters calling for a national occupy day in support of prison inmates in the bay area hundreds are planning to hold a rally outside san quentin prison at noon. they want to abolish what they call inhuman conditions, unjust sentences and repression of activists. control -- -- there will be traffic controls in place. officials are warning the protests could slow traffic across san rafael and the cost of dealing withed if's protest would fall on taxpayers -- >>> federal and local authorities investigating what happened in a midair coll -- collision near the contra costa county border both were able to walk way the helicopter and plane collideed in the air above the rio vista airport. the pilot of the helicopter crash landed in a field near highway 160 by sherman island. the plane's pilot attempted to make it to the airport and made a forced landing short of the runway. both walked away with mineover injur

rounding out the top five, kohl's, jc penney.t did not make the top five. >>> expect some long lines at power ballout lets. the jackpot for tonight's drawing has grown to $250 million. the cost, well that's now $2. the virginia lottery says it expects to sell 1400 tickets per minute across the state at peek times today. >>> do you ever foal like you really need a nap at work? doctors say you should. the benefits of power napping still ahead. but first, caught on tape, an out of control control paraglider slams into a tree. we'll be right back. >>> caught on tape, the aftermath of a paragliding session that just did not go as planned. the flight in australia was flawless, that is until the kite hit powerful turbulence and the paraglider lost altitude and there it is. wrap around a tree up in the sky. >> i thought he was pretty well wrapped up in the top of the tree canopy. he was holding on to the fork of the tree. >> the marathon eight hour rescue mission follows. he was lowered without a scratch. >>> the parents of a newborn in

against the conservative group that threatened to boycott jc penney for hiring her to be their spokesperson. one thing has become abundantly clear over the last two days, mitt romney has lost his mojo, his cam -- the next 24 hours could prove critical for the one-time front-runner. mitt romney speaks before a key conservative gathering tomorrow known as cpac. and it could be his chance to reload and reboot his message. meantime nothing greets success like success. and rick santorum is raking in the cash right now, bringing in more than $1 million. and he's literally feeling the embrace of staunch conservatives. >> folks, president of the united states is selling the economic security of this country down the river right now. people say, well, you know, if you go out and you grow the economy and you create the opportunity for blue collar criminals to work, i don't care if they vote for me, i care if they have a great quality of life in america. >> let's bring in our panel to talk about the candidates, usa today politics jackie -- this morning, that rick santorum could even gain ground on mic

. >> fortunately, jc penney is standing behind the partnership with ellen degeneres.pplaude them for caving in the pressure from the intolerant few. this is a victory for those folks fighting to move this country forward, not back. >>> i don't know what got the komen foundation to make the decision, i'm glad they reversed it. >> the komen reversal story, is evolving yet again. planned parenthood may still get shutout. the president of the national organization for women is back for the latest. >>> major news out of wisconsin. governor scott walker has lawyered up and is talking to the da investigating his staff. we'll have a full report. >>> breaking news from the white house on fracking regulations. >> health problems. >> i am never healthy. >> explosive conditions in the house. >> "gasland" director josh fox is here with reaction. >>> welcome back to "the ed show" thanks for watching tonight. after a massive public outcry, this morning the susan g. komen foundation made a stunning announcement. >> major breaking news right now on msnbc, regarding komen. it is now ap

jc penney, herb's other company, and trip advisor up 18%.dollar tree, limited brands and home depot all hitting new fresh 52-week or multi-year highs today. >> brian, we thought it would be fun to check in on some stocks passing from kids to adults turning 18. we thought we'd throw them a birthday party. they're all grown up, how are some of these companies fairing? if you do the math back in 1994, all of these ipoed some time in 1994. let's start with american eagle outfitters. it's up 1700% since '94. traded on the nasdaq back in 2007 american eagle moved to the nyse. happy birthday to office max. down 75% since its ipo. shares initially offered at $19. now trading at less than $6. next one is capital one. let's blow out the candle there. it's currently up 813% since going public. ak steel not a great birthday celebration. it is down 31% since '94. the big winner of the bunch though is a huge big happy birthday to apollo group. you're not misreading it. up nearly 7,000% since its ipo on december 6, 1984. herb, you often talk about that sto

jc penney had a huge run, sold off a little today that is another name you might want to take a lookway tonight get to the laggard of the session, notable, amazon, saw the shares fall 2%. morgan stanley concerned about slowing sales growth. also about competition from apple. which i thought was interesting, given most of the sales are just general merchandise sales. >> at the core of their argument was a lot of the bricks and mortar amazon top line is coming from or used to come from dvds, from videos, from video games, whatnot and people like apple or at least the online gaming, this is all taking some of this away. i think this gets back to cuts of the core, people have disagreements on this desk tonight is that at 130 times earnings, i don't need to own amazon in an environment i don't know the u.s. consumer is alive and well. looking for fantastic companies, amazon is that, but is it at a great price here? that is ultimately how i'm investing a lot of value out there why i see a lot of rotation out of amazon into cheaper retailers or other online plays is what's going on here. >>

>> i pulled up a five-year chart of jc penney, and i'm looking at five years and the fifth-year averagefth-year average is above the 200-day moving average so that it's never been this tight, and i'm wondering if -- >> we don't care about the technicals here. we have a new ceo. ron johnson, late of apple, before that, target. and this stock has moved up too much, and when it comes back down i'll be a buyer again, but i cannot sit there and say listen, to pile in, if it was seven. let's go to dave in florida. >> my uncle angelo wants your opinion on transcanada. >> the answer is 4% growth and i think you buy some here. and you buy some more. greg in arkansas. good afternoon, jim cramer and big boo-yah to you, sir. >> love the razorbacks. >> one of my favorite teams, right? >> thank you, jim. i'd like your professional opinion on a company in my home state, tyson foods. >> they had a fabulous quarter. a lot of that was the feed cost going down. nobody cared. the commodity business and i'd love to recommend tyson, and i think it's a great company, and i think they'd do a fabulous job, and

. >> liz dunn says think long-term on jc penney.t weekend. >> thank you. >> up next on "halftime report." i'm going to figure out what the hunger games is using something called the internet. and can target withstand rising gas prices? a top analyst makes the call next. fidelity. now you don't have to go to a bank to get the things you want from a bank. like no-fee atms -- all over the world. free checkwriting and mobile deposits. now, depositing a check is as easy as taking a picture. free online bill payments. a highly acclaimed credit card with 2% cash back into your fidelity account. open a fidelity cash management account today and discover another reason serious investors are choosing fidelity. >>> all right. welcome back to the "fast money" "halftime report." target shares up on positive outlooks and an upgrade at jefferies. the analyst sees margin pressure easing and sales rebounding. let's bring in said analyst, dan binder, analyst at jefferies with his call. you were probably working, but earlier in the show we were arguin

we just heard last week from ron johnson at jc penney, he's going to be advertising massively.ideo game business is good. ea's advertising for "star wars," things are great. >> real quick, who is best to be leveraged the strength you see in the ad business? >> i think the strength in terms of stock prices clearly google. google is very, very underpriced. they have youtube. youtube's viewership was up 72% in the last quarter. ad dollars will follow viewership. they're adding bodies in new york to produce this video. i think they're over 1,000 in that building they've got down in chelsea. >> uh-huh. >> i think google's the big winner here. >> got it. to both of you, thank you so much for joining us today. thanks to larry and david. brian, back over to you. >> all right, mandy. we'll have jeremy siegel in a bit. we'll go back to mandy, but for now right here, me, you, all of us together getting ready for the big game on sunday. but we're talking super bowl stocks because this is cnbc. the next chapter in our epic battle pitting new york against boston in the big arena of wall stre

akin to jc penney. trying to draw a conclusion in retail reminds me in 2012 we don't trade as a unit. atf of retail seems to be breaking out. i would point out without a doubt it has never been more of a stock picker's market in retail than i have ever seen. limited down. tjx didn't rally after the great quarter. could pick up steam. yesterday ross stores which didn't even report is the home run name. tough cross current. >>> let's talk vivus. fda advisory panel packing the weight loss drug. if the fda agrees qnexa would be the first prescription diet drug in more than a decade. z zenical back in '99 the last approved. this is a staggering move. also related moves. arena pharmaceuticals. a couple other ones. >> i remember when american home products was almost destroyed by fen. phen. it looks like this epidemic is so bad we're going to overlook, literally just let people have this drug. we've got to stop the fat epidemic and they're doing it. and i think one of the reasons why the stock is up so much is

. >> announcer: today's weather is brought to you by jc penney.ary to love at jc penney. >> and as we show you what's happening for your weather on the way out the out the door, w talking about a big storm getting itself together. this is sometime tomorrow. low pressure in the -- utah mixing its way down to texas and it brings behind it a lot of snow for the rockies and rain ahead of it. so here is what we are looking for. denver, anywhere from 6 to 12 inches of snow. going down to aspen. we are looking at anywhere generally to the rockies. about 3 to 6 inches. rest of country we expect to see fairly decent day here in the east. showers moving through this morning. look for plenty of sunshine through the plains with above-normal temperatures. more rain moves into the pacific northwest. cooler but sunny day in los angeles. high of 66 degrees. that's what's going on around the country. here's what's happening in your neck of the woods. >> good morning. tom kierein in storm center 4. cloudy and cool this morning and we had showers moving through the

reports on consumer sentiment and new home sales in addition to earnings reports and the likes of jc penney before the bell. the dow rising to tweg,984, the nasdaq up 23 to 2956. pepsi is seeking middle ground as it looks to win back soda drinkers. for people who don't like calories, pepsi is launching a new mid calorie cola that has about half the calories of a regular pepsi at 60 a can. it's the company's biggest product launch in years. pepsi next will be available in march. >> thank you very much. it is 5:20 now. despite threats that hundreds would be laid off oakland managed to pull its budget and lay off just 21 city employees. is the city was forced to make cuts after the state pulled $28 million in redevelopment funding. leaders say some moved to vacant positions and others took lower ranking jobs. the cuts will not impact public safety, libraries or social services. >> weeks after calling san francisco a land of strange fan taties, republican presidential candidate newt gingrich back in the bay area this weekend. the former speaker of the house will be at the republican convention