j, jon najarian, jim goldman, good to see you. coming up, a first on cnbc interview with the ceo of hertz. said to report earnings after the bell today. what will they say about the state of the consumer? plus high frequency trading is the hot new buzzword on the floor. what is it and are those using it getting an unfair advantage. guest host rick santelli joins the fast money traders live at 5:00. >> we about 20 minutes before the close for the day for the market. banks and oils under pressure. a handful of tech like ibm is weaker as is intel and cisco. really a mixed market even within the banking sector, jpmorgan lower, bank of america higher. not a real trend to point out. >> biotech has been doing fairly well as the nasdaq trying to get back into positive territory. coach is reporting a 32% drop in second quarter net income. up next, lieu frank further explains were the company is making a big growth push right now. >> after the bell, another exclusive one-on-one with sam zell. find out when he thinks tribune could emerge fro

thanks, jon najarian. coming up tonight on "fast money" an earnings rally under way right now but the season is just getting started so get your complete earnings season playbook straight from the pros. intel, goldman, ge, ibm, all the big names, they trade them all tonight. and the analysts who upgraded google saying the stock could climb $50. it's all live at 5:00 with melissa and the traders. >> 20 minutes before the closing bell sounds for the day. the market holding on to a pretty good move. now at the high of the day up 177. we are also looking at one stock which is unable to participate, though. that is the struggling cit shares. we'll tell you what's going on there as the company is talking with regulators about ways to improve its short-term liquidity. >> and of course that's a big issue for that company. the debate over health care coverage is spilling into a heated battle in the retail sector. up next we'll tell you what's pitting the industry's biggest trade group against the world's biggest re

jon najarian, what are we seeing in the reaction of the stocks. yahoo investors are seeming to think they didn't get enough out of deal. >> yeah, they wanted a lot more. and isn't that always the case, investors want more than they've got. i think in this case they were looking for something that just wasn't there, michelle. i mean, yahoo outsearched to  goolgsz, which was their search engine years ago. they have tried to do it on their own, and as carol bartz has said, this company is not about search anymore. they're going to get paid handsomely, i believe. i don't think this is a bad deal for them. because i think they are more of a media company than a search  company. and i would say that it is likely to trade a little lower  still. as analysts downgrade the stock and that will present a buying  opportunity. and microsoft just did a fabulous job here, but don't dismiss eric schmidt over at google. he will keep the pressure on them with the justice  department, and he's got the cashe with them. >> what are you saying when it comes to t

yahoo, jon najarian from monster.com has been listening to that call in one year as he's listening to us on the other. another very talented man. dr. j, what are you hearing? >> it's just started, melissa, and that's the white one hanging out of my ear. this one's you. by the way, my hat's off to jim goldman, i don't know how the heck he does this, but here's what we're hearing so far. in their prepared statements they already addressed economic recovery and ad line sales picking up. that's the online sales. so if they're putting that out already and there is some positive going forward. very conservative with what they've offered thus far, and what the projections are next quarter versus this quarter. this next quarter will be extremely good for him in the second half i like a lot for yahoo!, but they're just getting into it now. like i said i'll be publishing some more. i like what i'm hearing and we do not have positive readings going into this one and slightly to the negative side and that's about where the stock is, slightly negative. this isn't a slam to the down side, and i thi

you know jon najarian, "fast money" contributor, co-founder of optionmonster.com.morning when i came in with the traders. the fear was this was going to take away from the rally. and yet it went off, part of the auctions went off very well, we've got more to come. demand was strong. we haven't seen a dramatic drop-off in the stock market, though. is this thesis a little shaky? >> i think the traders were right. i'm certainly with them, bob, and probably with you, thinking that anything that saps money away from the buying power in stocks in particular after we've had a run such as we've had is something that's to be a little nervous about. and you've seen it reflected slightly in the 7% pop in the vix today. the vix made a very nice move back to the up side. still shy of 25, though, bob. so it has made a move to the up side. but it was off of a very low number last week. i think the important things to watch this week are that we've got the chinese officials that they're meeting in washington with senior obama personnel. i anticipate that will go well. we've seen t

jon najarian, can microsoft keep this tech love going? >> i think they could.i question a little bit whether amazon can, because the move has been so exaggerated. but joe, you're sitting next to mr. terranova who has been pounding the table for binge bing. i won't be surprised if we hear from microsoft about whether or not they are indeed taking a look atia who. we're expecting to hear something today about that. >> i'm sorry -- microsoft story is bing, it's more about bing, it's windows 7, it is the entire strategy where they are getting far more aggressive and going back to amazon and ebay, last night ebay give you a great look inside at what you're going to see and amazon is above 90. we talked on the show, once it gets above that 9 number, usually goes to 10. looks strong. i expect strong earnings from amazon tonight. >> 7 and 8 and 10s, joe, but where we are doubters out here in general about the levels and whether or not we can sustain this, does 10 necessarily follow 9 in this case or 9 following 8 for amazon? >> well, you know, certainly -- on a technic

. >> ed you're not related to jon najarian, are you? >> i'm not, no. >> double-checking.your final grade. with the stock selling off, what would you tell people to do with wells fargo. >> this acquisition with wachovia we think is going to work out fine in the long run and we think is going to create a lot of earnings leverage positively in the long run. i would say, this however. the company -- the stock has run up fairly substantially on strong first quarter earnings and prospect of strong second quarter earnings which we got. however, we think third and fourth quarter will be more challenging and put pressure on the stock, which is i think what you're seeing reflected this morning. that's probably likely to compress the stock a little bit further. once it gets to a cheaper evaluation it's probably more attractive. we would be on the sidelines at this point. >> ed, thanks for your time, appreciate it. >> okay. you're welcome. >> energy secretary stephen chu looking for friends on the energy bill. he's set up a facebook page to do that. will this keep climate change fron

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