up to josh lipton for a market flash. hey, josh. >> we're keeping an eye here on biogen, reports that synthon has filed a patent for a generic version and up still nearly 50%. sue, back to you. >> on to the next fed chief. the white house says it won't make a decision for the next few months but seem to be floating the name larry summers out there. we're talking about it today with eamon javers and josh boque of "the fiscal times." >> thanks, sue. >> mr. summers is certainly no stranger to washington, not by a long shot, but he's known as somewhat abrasive sometimes in washington. how do you think this is -- this is all going, this trial balloon that the white house has floated so far anyway? >> well, look, the abrasiveness is larry summers' downside but the upside is his brain, and i'm told by former white house insiders that the president really respect larry summers brain, though he's somewhat mystified by larry summers' behavior so the question is did the trial balloon work or not work in terms of getting larry summers

josh lipton is here with the details. josh? >> yes, sue. we're look is at onyx pharmaceutical, the dow jones reporting it's expecting takeover including from amgen and pfizer. that stock now up some 80% so far this year. sue, back to you. >> josh, thank you. more earnings and more beats, so what happened to all of those scary forecasts that so many people told us to beware of? have the analysts changed their tune, or is the rough stuff still to happen? archrivals, goldman sachs making a pretty bold call picking a favorite between gm and ford and then, of course, there's coke and pepsi. where should you put your money? we're going to talk about that coming up. >> and mcdonald's is getting a brand new address, but wait until you see who is going to be behind the counter. tyler is out today. michelle is at the nyse, and we'll get downtown to her in just a couple of minutes but first the bull run in housing. another big number today. this time it's the home builder sentiment figure. this year kb homes is up 20% year to date. ryland up 10% and d

i'm josh lipton. have a look at spot business. management unveiling a 6.6% stake saying the shares are undervalued and will discuss options. the discussions may include strategic alternatives to the stock. off session highs and still up 4% right now. sue, back to you. >> josh, thank you. president obama, as we told you, is touring an amazon.com facility in chattanooga, tennessee. amazon just this week announcing it's hiring more than 7,000 people. the president will speak very soon about 2:00 p.m. eastern time. before the president's address we want to bring in gene sperling director of the economic national council. good to see you. >> good to see you, sue. >> we'll have marcus and eamon with us in just a few minutes. i want to start with one of the four posts, if you will, of the president's address this afternoon and that's simplifying the tax code for businesses to create jobs and to create economic growth. the reaction to that, as you might expect on the hill, has been somewhat mixed although i would say it's getting more fav

i'm josh lipton. we're watching the fertilizer-maker.up that dividend hiking it by 75% without any problems. the stability and predictability of its retail operations means that companies so say the analysts, will have one of the biggest dividend payout ratios. >> thank you very much, josh. a developing story we're keeping a close eye on. a runaway train derailing and exploding in the middle of a small down on quebec. so far five people are dead and at least 40 people are missing. authorities are expecting to find more bodies as they get closer to the hardest hit areas. >> billowing black smoke can be seen miles after the derailment. it was transporting oil from the baffin region and canada's primes is calling it an unbelievable disaster. they will debate whether this will make the keystone pipeline for likely. >> now to that horrific plane crash out in san francisco. asiana airlines flight 214 crashing as it approached the airport after a long flight from south korea. two people killed, 180 hurt, several in critical condition. the data

josh lipton is watching all of that. what stands out, josh? >> let's get a couple highlights.oss to chris hahn. eads, a liquid large cap company. he said the stock could double on a two-year horizon. talks about porsche saying it's a holding company. he thinks those two companies will merge at which point if they do you could double your money. and aurizon, calls it a total turnaround story. stock on track to double he says in the next three years. we heard from mark kingdon. he likes japanese stocks. toyota, it's an innovative leader in hybrids. fuji heavy taking production away from low margin to high margin. finally maz zdmazda. has more efficiency and best mileage in class. leon cooperman, we highlighted some of the names he's touching on. he had ten, two i would touch on. one would be qualcomm. he said too much pessimism. look at the balance sheet, $31 billion in cash, no debt. and sandridge energy he said, that one, according to cooperman, hat the potential of doubling. scott, back to you. >> josh, thanks so much. the kingdon toyota pick is right in your whom house. >> i

can it close above that $38 ipo price, josh lipton?reporter: yeah, bill, obviously watching facebook very closely here. what do we get back to the $38 offering price? right now, you're around $37.94. remember, you hit that intraday low of $17.55. that was in september 2012. you finish 2012 around $26. but right now, right near session highs, up about 7% at $37.92. maria, back to you. >> all right, josh, thank you so much. we're in the final stretch of trading for the day. about 12 minutes left before the closing bell sounds. we have a market that's fractionally better on the day. up 16 points on the dow. >> the stocks may be struggling to hold onto gains, but when we come back, joe quinlan explains why the rally could head higher. >>> and could facebook stock get back to the $38 ipo price? it looks like it's headed there. up 7%. back in a moment. the most free research reports, customizable charts, powerful screening tools, and guaranteed 1-second trades. and at the center of it all is a surprisingly low price -- just $7.95. in fact, f

over to josh lipton for a quick market flash. >> have a look at qualcomm today. analysts in lizard capital markets shift. qualcomm down today and also down for the year. simon, back to you. >> thank you very much, josh. are you hungry for profits? well, wait until you see what food stocks are doing this monday. plus, while you're shopping, they are watching and they are not looking for shoplifters. they are watching your behavior. see who and what in two minutes. ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade. >>> some of the food stocks trading at new multi-year highs. general mills a new high and whole foods a new high. conagra at its highest level since december of 1997 and tyson foods up as well as a new record high. simon? >> brick and mortar retailers are taking a page from online rivals and now we're relyin

josh lipton is here with the details. josh? >> yes, sue. dow jones reporting it's expecting takeover including from amgen and pfizer. that stock now up some 80% so far this year. sue, back to you. >> josh, thank you. more earnings and more beats, so what happenedo

josh lipton is watching. josh? >> reporter: yeah, scott, let me get you those results. a beat on the bottom and the top. you saw adjusted 1.41 on revenue of 1.22 billion. remember, the street was looking here for 1.18 on 1.16 billion. in terms of q3 guidance, that's actually light. 1.09 to 1.13. the street was looking for 1.16. also, full-year guidance, though, 4.83 to 4.85. the stock has been volatile. up 5%, dipped, and is now bouncing up again about 4.5%. of course, herbalife the subject of a billionaire brawl you saw here on cnbc, bill icahn is long. ackman is short. the stock up more than 3% and up more than 90% so far this year. guys, back to you. >> all right, josh, thanks so much. as we said, herbalife is out. it's a beat. the stock is moving. we want to get some more instant reaction right now. >> joining us now is our own herb greenberg. herb just looking at some of the results, you see that they're raising guidance for fiscal 2013, better than expected. it looks like that's what's leading the stock up after hours. what are you seeing here? >> you know, i'm li

winning day today on wall street, and for a look at the gainers and a few losers, let's check in with josh liptonosh. >> reporter: hey, kelly, leaders and laggers in today's session. let's start with the s&p and one group well in the green. homebuilders, like d.r. horton, pulte, lennar, all up sharply. core logic did report that may foreclosures declined from a year ago. netflix, another big gainer, a day after extending its licensing agreement with cbs. the company also announcing that it will post second-quarter results on july 22nd. ceo reid hastings will host a live video discussion about the results with our own julia boreston. what didn't work today, surgical got slammed, projected second quarter results that missed the street's expectations, talking about increased economic pressure on hospitals. qwest diagnostics another lagger. ticker djx, morgan stanley downgrades it to underweight. analysts citing more risk to reimbursement. as for the dow, ibm finished in the red. goldman downgrades big blue to neutral, citing pressures on growth markets and higher-margin revenue streams. price target

tom brady action, josh lipton joins us post nine right on the floor behind us. 91-point gain, josh. >ah, the dow had been up 116 and went negative and now up 92. one dominant theme you've been talking about, obviously the rising rates. yields across the curve, the five, the seven and 10 and 30 hitting new 52-week highs. can you see that playing how the in the equity market. in the s&p, utilities, your worth performing sector right now. you also certainly see it in the home builders, helpary, dhi and the itb, by the way, down nearly 3%. higher rates, a steeper yield curve and better economic data and better news for some of the regional banks, bbt, all higher. >> let bring in kenny polcari. so what do you do in an environment like today where you have stocks up 91 points? >> right. >> a good jobs report and you now have the ten-year eeld? >> and hitting our head at 50. did it this morning and came back and then back again. a light day in volume. the jury is really out on what this report means and what they will really think on monday so i think you have to be a little bit cautious. mo

you heard josh lipton give you the breaking news. hma reuters is reporting could be the subject of a takeover. the stock has absolutely soared, up 6% right now, nearly a buck to 16.42. reuters again reporting potential takeover interest on hma. watch many of the managed care and hospital companies like tenet, hma and others, they are all going to be in play now. >>> on deck, don't say that he didn't warn you. intuitive surgical down 18% right now. nobody's done more reporting on this company than our own herb greenberg. what you need to know, plus an analyst who just downgraded the stock. >> also, do we need to know more about our pilots? should we be able to see their training and track record before you board the plane? we're going to debate that and would really like you to join the conversation? tweet user check us out on facebook or e-mail us @streetsigns.cnbc.com. (announcer) at scottrade, our clients trade and invest exactly how they want. with scottrade's online banking, i get one view of my bank and brokerage accounts with o

i'm josh lipton. pan era reporting off the bell delivers eps of 174. listen i'm not saying short pan era because it crushed a lot of people. the stock has been unbelievable. if you have been long and enjoyed this rally, i'd say get out of at least half of your position. their comps, their operating margins going forward, they guided basically to flat. that was a disappointment. the comps across the country are really bad. i think it's about comps, margins, when those go south be concerned. i'd get out of this name tomorrow. like that? >> like that. dupont trading at a ten year high after reporting better than expect earnings today. the stock trading up nearly 6% in the past week after comments on investor nelson peltz at cnbc's delivering alpha conference. listen. >> i learned literally in the past two hours that you have just amassed and are kernting to amass a very big stake in dupont. can you comment on that? >> you asked me in the green room about ten minutes ago, if you say dupont what comes to mind. do you remember what i told you? i said paint.

meanwhile, cnbc's josh lipton was watching all the key moment from delivering alpha today. josh, what was moving on the day? >> yeah, larry, that's right. nelson peltz moving markets when he said he has amassed a big stake in dupont the check out this chart. dupont spiking almost 5% on his comments, closing at a 13-year high. take a listen. >> i learned literally in the past two hours that you have just amassed and are continuing to amass a very big stake in dupont. can you comment on that? >> you asked me in the green room about ten minutes ago. if you say dupont, what comes to mind? you remember i told you? i said paint. >> all right. one of the biggest and best known activists and investors and one of the final speakers today. let's go back to josh. josh, give me another update on this. what did carl icahn say? let's fit him into this square? >> yeah, larry, i can't repeat everything he said because as usual mr. icahn used some colorful language, but he talked a lot about his bid to buy dell, and then he discussed how he picks the companies he wants to go after. >> i know

. >> josh lipton, thanks so much., steve, vmware. >> i like the name, like their involvement with vmware. when you look at the regions they did well in, that's going to flow down toward emc. i think the name goes higher. >> vmware's books were up 20%. people were not expecting that. this thing is down 17% since january. it's trading at 20 times earnings. i think this stock can continue to work. >> zynga is set to report second quarter earnings. this will be first time wall street will hear from the new ceo and his strategy for turning that company around. shares jumping 37% this year but will earnings derail that rally? we debate it brother versus brother style. jon is the bull, pete is the bear. 1:30 on the clock. doc, make your case. >> no long-term debt, pete. that $1.7 billion in cash they have on the balance sheet, that is huge because the stock trades at a market cap of $2.6 billion. they're not giving them any credit for basically the upside potential here. the annual revenue is about $1.2 billion. they just ad

josh lipton joins us now with the details. good evening, josh. we've got a lot coming up. >> that's right, michelle. stocks close with modest declines. the s&p 500 breaking an eight-day rally. that following mixed economic and earnings reports, the dow dropped 31 points. among the blue chips, coke, a laggard, matched expectations of 63 cents a share but missed on the top line. the company talking about unusually poor weather in the quarter. also, goldman sachs, reporting the company beats on the bottom and top, but a well-known bank analyst did lower his rating on goldman from buy to outperform saying increased estimates aren't enough to justify the upside needed for a buy rating. on the economic front, home builder confidence jumps in july to its strongest level since january 2006. and the consumer price index gained .5% in june due to a gain in gasoline prices. we heard from kansas city president esther george. and, of course, speaking of central bankers, tomorrow all eyes on dr. ben bernanke, his semiannual testimony to congress, perhaps more

but first up, the problems with obama care keep piling up, and i want to go back to josh lipton for a look at what is happening today. what you got, josh? >> well, thank you, larry. first off the cbo now saying the delay of the employer mandate will cost the taxpayers an additional $12 billion. most of that because it will be another year before the government starts charging poenlts for businesses that don't provide health insurance to employees. also, florida and georgia are now both saying they expect health care premiums in their states to rise 20% to 100%, not counting potential government subsidies. and georgia says premiums for a 25-year-old male could triple. and if you've been talking about it a lot, the system relies on young healthy people to pay into it. and even congressional staffers are worried about obama care. they would be required to get insurance from the state exchanges, but there's confusion over whether the government will pay part of the premiums for them. it could mean an extra $11,000 a year in premium costs for some, larry. >> i would just say if you cook yo

and now to josh lipton with the market flash. >>> the "new york times" looking to sell the "boston globe." john henry, he's interested. the owner of the boston red sox launching a solo bid for the "boston globe," that is according to reports in the "globe" which says henry previously submitted through the new england sports network which is 80% owned by his fenway sports group. that group reportedly dropped out. henry, one of the many interested in the "globe." sue, back to you. >> almost a 2.5% gain in the "new york times" today. thank you very much josh. kenny polcari joins the group, as you know a frequent guest, chef and also director at o'neill securities and a cnbc market analyst, too. you and i were talking just before we hit air, and you said the data is not good as you look at the gdp reports so you think mr. bernanke is not going to say anything new. >> i don't think he'll say anything other than what he's been saying full steam ahead and yes, we'll taper when the data tells us to and the data is not telling us that so therefore, i think the market is confused. it will hit a lo

let's get to josh lipton on young brands. >> scott, we are watching yum brands.ne, just misses on the top line, reaffirms 2013's earnings growth. sales up 1% in the u.s., down 20% in china. expected to recover over the rest of the year and be positive in the fourth quarter. scott, back to you. >> bk, the headline down 20% in comps in china, enough to scare people. some thought it could be worse. >> that's probably the reaction you're seeing now. we all knew there was a problem with chicken in china and nobody wanted to go to kfc. the chart still looks so ugly. i don't think you can get any read on this after hours action or the trading action. for me it's a stay away. >> right. but if china has bottomed, if the worst fears are now over -- >> i don't think the worst fears are over for china. >> don't these numbers -- >> not yum brands kfc. >> nobody likes this? >> i don't think you can buy it. it's bumped up against these levels a few times. it's a no touch. to beak's point. the data out of china has not been great. you put something on twitter this morning china

on futuresnow.cnbc.com. >> thanks so much, josh lipton. sh brown, you're long energy names. >> there is a renaissance of exploration of production here in the united states, north america. you can be in apache, occidental. i think they're all going to work. they've underperformed for a while. it's time. >> i agree. we actually just started a position in anadarko as well. we like occi for the special situation. i have liked the drillers for a while. i think halliburton is poised to have a good quarter. and i think you can continue to look at the e & c times. i have been on cbi, on floor. i think you can look at kbr. >> schlumberger, anybody? >> i'll take halliburton over schlumberger. >> you can almost do everything except the refiners. i think it will be that broad based when these names start to catch fire. >> up next, want to know how the best are investing? a stock star picker reveals three areas of the market he's zeroing in on and what names he's buying. >>> plus, with he know how jim chanos feels about caterpillar. >> we are short cat

i'm josh lipton. we are catching chip on the lay jumping in the after hours, the burrito making beat on the top and bottom lines, better than expected. also boosted its full year same sales forecast up more than 4 percent in the after hours, up more than 30% this this year. melissa back to you. >> let's go to mike khouw for the trade. there were concerns that gas prices would eat its way into some of these casual restaurants. >> that's true. that's a concern i have did despite these results. a lot of the gas price spike has happened only recently. >> they raised their forecast for the year. why are you concerned? >> on the basis of valuation. this stock has had a heck of a run. of all the casual dining it's not as much as maybe a dri and maybe cake or one of those names which i dislike much more than this one. on this rally i don't think people should take this as -- okay news, up five percent. i'd fade this for sure. >> thank you very much for that, mike. let's get back to the tech rock that is happe

i'm josh lipton.atching shares of spirit airlines which are down right now in the after hours. the headline here is spirit airlines announcing today the public offering of 12 million shares of common stock by existing shareholders affiliated with indigo partners upon completion of the offering they will no longer own shares of common stock, of spirit. the company will not receive proceeds of this offering. the stock down about five percent right now though still up 60% over the past 12 months. >> guy, what do you do in this situation? >> we had this right for the wrong reasons. the premise was a lot of momentum on the stock. we thought it would rally into earnings and sort of pull the rip cord. given this report it would have gone higher. i'd say, you know what, see where this is priced. you might want to get in because the story might still be intact to the upside. >> back in june former fed governor larry meyer was surprised after president obama made interesting remarks about fed chairman ben berna

i'm josh lipton. we are watching yelp here in the after hours. cent but that was better than a loss of 4 cents. we expected revenue clocks in at $55 million. also better than expected. average monthly unique visitors grew 38% to 108 million. active local business accounts grew 62% to 51,400. company expects third quarter revenue above estimates. >> 15% of shares outstanding short. >> there you go. look at you putting your trader cap on. you don't have to come to me. you could have answered the question yourself. that's why the stock is up. it's up 7, 8% now. tomorrow is not the day to chase. if you are fortunate enough to be long you take profits and go and have a cocktail avian with your buddies. tomorrow is not the day to initiate a long position in yelp. >> heavy options activity in shares of master card. mike khouw, what did you see? >> right after we saw that court ruling which looked favorable for merchants and bad for visa both sold sharply. their numbers were pretty good. part of that ruling was that the existing rules are going to stay i

by the way, off of the best levels of the afternoon, but nonetheless, still in record territory, josh lipton looking at what stocks are fuelling this rally today. over to you, josh. >> maria, heading into the close. big movers were watching. start with banks. morgan stanley reports better than expected adjusted profit. regulators also green light the repurchase of 500 million of its stock. goldman, city, bank of america all higher as well. boeing rising today. british regulators looking into the 787 fire. now saying it was the emergency locator beacon. regulators saying it should be turned off. stock moving higher. now up some 40% just this year. health group, another gainer, beating the health insurer and enrolling more people. well care health plans also along for the ride. and herbalife, delivering alpha conference. carl icahn saying they haven't sold a share and the subject after billionaire brawl, icahn is long and ackman is short. maria, back to you. >> josh, thanks so much. and through the day of trading, 45 minutes before the "closing bell" sounds. off at the highs, we have been up 1

josh lipton has been eyeing the catch and has the latest. josh?, a wave of earnings. let's wrap up the results. first up has to be facebook posted 19 cents, beats by a nickel. revenue also above estimates. mobile revenue, 661 million. remember the street was expecting just 450 million. next up, qualcomm posted 1.03 on revenue of 6.24 billion. the street was looking for 1.03 on 6.06 billion. the march quarter estimated 3-g, 4-g device shipments about 248 million units at an estimated selling price of 227 to 233 per unit. visa also reporting, 1.88. the street looking for 1.79 on 2.89 billion. so a beat there. affirming the outlook for revenue growth of 13% this year. that's in line with estimates. payments volume growth for the three months ended june 30th was 13% over the prior year at 1.1 trillion. buy due, another one we're watching, reports of 1.26 on revenue of 1.23 billion. analysts had been expecting 1.21 on 1.2 billion. mobile revenue for the% time saying over 10% of total revenue, q3 outlook also well above estimates. and raymond james, 65

. >> josh lipton is watching buffalo wild wings and it's seen wild action. josh? >> we are watching buffalo wild wings here. let's get to the numbers. reports 88 cents on $305 million. remember the street had been looking for 79 cents on $304 million but same store sales rose 3.8% at co owned restaurants. missing expectations. that stock down about two percent in the after hours. back to you. >> thanks. jj kinahan on the halftime show today, he said look at the options activity and said this was going to be a negative. >> this comes on the wake of pan era that we discussed a week ago and mcdonald's. there seems to be a theme here. the quarter was fine. revenue was better and operating margins. it comes down to the comps which were disappointing. >> after the break, meryl lynch's head of strategy is here to lay out her top four themes to watch for. later ag stock is getting a bad wrap. stick around. this is the pursuit of perfection. in today's markets a lot can happen in a second. with fidelity's guaranteed one-second trade execution we route your order to up to 7

i'm josh lipton. here's a quick market slash.s that david einhorn closed a bet against ailing retailer jc penney in the send quarter and also closed a long position in microsoft. and a short bet against jcp was the most profitable short in 2012. you can see the stock right now up about 2.8%. brian, back to you. >> big news on j.c penny and lock at that stock take off. you dig into the stock a lot. this is big news for jc penney. this are those who will tell you they believe they take a look at the cash flow and debt obligation and there's still significant issues but this would be certainly something that's proactive. >> looking here at the reuters story. davidine i don't know, smart guy, but not a super aggressive guy. he's not -- listen to what einhorn is saying. the retailer was poorly positioned. shares rocketed in early 2012 based on overly hyped promises put forth by a highly promotional ceo. smack in one sentence. >> they will have to take a look at the earnings and see what happens. >> probably somewhere sitting in a beac

josh lipton and the nyse and rick santelli in chicago. first to you, josh. >> blue chips up nearly 100. one dominant theme here today, the rising rates. look at the yield curve, the 2, the 5, the 10 and 30, all hit new 52-week highs. you can see the impact in some of the rate-sensitive sectors and s&p, utilities, the worst performing sector. etr, eex and teg, some of the names on our radar. some of the home builders, lennar and dhi all in the red. itb and home builder etf down 3%. finally a stronger dollar, saw the dxy pop. check out some of these miners, abx, nem and the gdx, the gold etf, gold miners' etf, down nearly 50% so far this year. scott, back to you. >> thanks so much. rick santelli, over to you. i know rates are getting the conversation of the day but don't forget about that dollar. >> yeah, no, everything is important, and i think the higher rates dollar teaming up is totally lodge call, and i think the response in the marketplace was mostly logical as we move to 23-month highs, which has been about where the ten-year is becau

for more to josh lipton at the futures desk. >> that's right. after topping $104 in early trading, crude quickly dropped $2 h do you think the top for oil? >> josh, we did see that 104 coincide with the deadliest day yet in cairo egypt. we saw the republican guard open up, fire, 50 people dead, over 500 injured so we think despite the fact there is a $7 premium in the price of crude oil now, we think momentum because of the situation going unresolved right now, never been in the situation where you've had a diplomatically elected official depose and relieve his duties and they file like they want it to go higher. >> you heard jeff. how high can oil go? >> it made a 12.1% rally in two weeks. if it is going to make a straight line run to 110, it is going to do it without me f it pulls back to around the 100 level and now i do think that 100 which has been kind of a series of highs over the last year, to me that should be support and i think it may stay above that. if it got back down there, that's where i would buy it. i wouldn't blame this all on

tyler, back to you. >> josh lipton, a decision they had a blow to apple. a federal judge ruling that apple conspired to raise the retail prices of e-books, a trial for damages will follow antitrust violations at issue here. apple currently trading up 49 cents at 422.82. jon fortt has the details. >> people largely shrugging this off. apple saying they did not conspire to fix e-book prices. at the end we've done nothing wrong and will appeal the judge's decision. the doj calling this a victory for millions of consumers who choose to read books electronically noting that prices of e-books went up an average of 18% when apple got into the market with this. and the judge in this case sort of picked apart apple's arguments when she went through this, saying that apple's tactics did force prices higher, even if they say that wasn't their goal. steve jobs' own words provided compelling evidence, she said, of this conspiracy and that apple was fully complicit, even though they weren't the ones who directly raised prices. the thing, is tyler, the game's moved on. i

josh lipton, run us through all of the movers for us. >> reporter: all right, mandy, listen, another week comes to a close. let's review the notable movers in today's trade. two tech heavyweights report and disappoint. google, results missed what the street expected to see, at least six brokerages cut the price targets on google, including bmo, jpmorgan and deutsche bank. microsoft, fourth quarter results disappoint. also took a $900 million charge related to cutting the price of its surface tablet, down hard on heavy volume today. another name deep in the red, intuitive surgical ticker isrg, our own herb greenberg has been around this one, cutting the forecast for sales growth this year, and the stock tanks. switching gears, names in the green today, chipotle, the bu burrito maker, stock up now 37% this year. the cfo will be on with jim cramer on "mad money." and finally, general electric leading, the earnings best estimates, a record backlog, the ceo calling it a solid quarter for a good year, confident about margin improvement in 2013. >> let's break down the market and talk about

josh lipton, how do they look in. >> ebay just reporting. let me get you those numbers. eps 63 cents. that is in line with what the street wanted to see. on the top line, 3.88 billion. analysts were looking for 3.89 billion. in terms of guidance, looking ahead, for q3 and full year, both below estimates. you can see the reaction. that stock down more than 4% right now in the after hours. bill, back to you. >> josh, thanks. the ceo will break down the results tomorrow morning exclusively on "squawk on the street." mandy? >> indeed. >>> it seems very clear theme, doesn't it, bill? just a quick comment there on some of the earnings we're getting out. beating on the eps or in line with the eps. but missing with regards to, what, with revenue. we'll talk about that more tomorrow. >> every single time, yes. >>> we've had a number of banks reporting today. pnc more than doubled its profit. but investors were more concerned with a narrowing key profit measure, which is the net interest margin. >> joining us in a cnbc exclusive is pnc financial services ceo, just took the job in

josh lipton has the highlights. >> reporter: a wave of companies reporting here. you caught up. electronic arts, ea, a loss of 40 cents. remember, the street was looking for a loss of 60 cents on the top line ea reports 495 million, analysts were looking for 454 million. looking ahead, guidance for the year, ea saying they're looking for a buck 20 on 4 billion. that is in line with what the street was looking for. also, juniper. they report 29 cents. that's a beat. the street was looking for 25. on the top line, 1.15 billion. street was looking for 1.09 billion. also some news here, the ceo of juniper will retire once a successor is named. also, the company announcing a $1 billion buyback. guidance for next quarter also above estimates on this name. guys, back to you. >> got it, josh, thank you. speaking of earnings. netflix reported yesterday, the company beating expectations but falling short on subscribers. >> still the stock -- go ahead, michelle. >> sorry. still, the stock is 170% this year, tyler, and it received 14 emmy nominations. >> we can usually read e

i'm melissa lee along with my earnings squad partner herb greenberg and cnbc's josh lipton.st off to the scorecard. 53% of the s&p 500 companies have reported so far. 67% beat their eps targets, 9% met estimates. 23% have reported below forecasts. let's start off with herbalife and herb you're looking at this one for us. >> i can tell you after a very spirited discussion i had earlier today on "fast money" "halftime" about this company, if this company had come out with really spectacular numbers this, stock would be to the moon and back. that's based on just the numbers, but i come back to what i've said all along. there are changes to the business model. those guys are doing and we'll see how name packets the actual growth of the company because some people think you should start seeing some changes in the growth metrix if the company actually is tightening the reins a little bit on their distributors. >> when you look at that stock it's been such a monster, up 80% so far this year, do you agree with carl icahn when he suggests that's just the mother of all short squeezes?

. >> is josh lipton with us, or did he move on? >> he's not with us. i thought maybe he was going to be with us for a perspective here. seema, thank you very much. welcome to the kellerhers, welcomes a lot younger than you do. sue, back to you. >> thanks very much. in federal court steven cohen's hedge fund s.a.c. capital advisers pleading not guilty to insider trading charges. mr. cohen did not personally appear in court but did sign the documents. so how good is the case against s.a.c. capital? can the government get all of steven cohen's money? matt goldstein is the editor in charge of wall street investigations at reuters and sal wiseburg is a former federal prosecutor. nice to have you both here, gentlemen. the question how much the government can take from mr. cohen, what are you wagering? >> if they can convict him they can take anything they trace toil legal proceeds and not a penny more. >> all right. mr. cohen apparently has been very smart with his money. he has a lot of asset. he has a lot of artwork and in some cases reportedly he's borrow

josh lipton rounding out the big movers tonight.r to you, josh. >> maria, lots of earnings report after the bell. whole foods reports, eps of 38 cents. that beats by a penny. but revenue clocking in at 3.06 billion. now, that was a bit light. the street was looking for 3.09 billion. same-store sales up 7.5%. so far in the fiscal fourth quarter, though, up 5.8%. looking ahead, it raises its full-year guidance now, looking for 1.45 to 1.46. analysts expected 1.45. robb will break down the numbers tomorrow. also, we heard from yelp after the bell, report a loss of a penny. remember, analysts thought we'd see a loss of four cents. on the top line, 5 million. that was better than the expected 53 million. yelp giving us guidance for q3, 58 to 59 million, better than forecast. the company also raising its full-year revenue and adjusted ebitda guidance. finally, metlife, a mixed picture there, eps of $1.44. a healthy beat of 11 cents. but top line came in light at 17.04 billion. maria, back to you. >> all right, thank you so much, josh. >>>

guys, back to you. >> thank you very much for that, josh lipton, back out to sharon epperson at the nymex. what's the expectation we're seeing on crude right now? >> you can see it right now, mandy, as we're making that march towards $100 per barrel and looking at the contract at the highest levels of the session for the year right now and keep in mind a lot of oil traders are very concerned about what they are seeing from the pictures in tahrir square and the protests going on right now in egypt. there's a great deal of concern about what will the state of the government be in the coming days and what that will mean for a key economic choke point. the suez canal is responsible for as many as 4 million barrels a day of opec oil. the energy administration official says that in 2011 there was as much as 2.2 million barrels of total oil. another key point that people are watching and there we're seeing about 1.7 million barrels of oil of crude oil flowing so the big question is whether or not we'll see a disruption of shipments due to what we're seeing there of the unrest in egypt. that's a

josh lipton has the details. josh? >> these headlines just breaking on hulu. 20th century fox, nbc universal and disney right now announcing they will maintain their respective ownership positions in hulu and together provide a cash infusion of $750 million an order to propel future growth. the president of 20th century fox saying they believe the best path forward for hulu is for a meaningful recapitalization that will accelerate its growth under the new ownership structure. >> let's bring in julia boorstin who covers this beat for us and is on the phone with us right now. julia, your reaction to this and the implications of this decision. >> reporter: that's right, sue. now this, comes as hulu's bidders had narrowed down, interested in purchasing them outright, directv which had made a bid as well as a joined bid made by peter chernin's company, the hollywood veteran in, conjunction with at&t. those are two companies who wanted to buy flat out. the third bidder was time warner who wanted to take a minority stake in t

i am josh lipton.re watching the home builders existing home sales fall unexpectedly by 1.2% month over month and analysts tell their clients this certainly is not a sign that the housing recovery is in trouble, but sales activity could come under more pressure in the months ahead. they say dhi and lenar and all lower right now. >> josh lipton. mike murphy, are you starting to get nervous about these home builder plays have you have been on so for a while. >> not at all when you look at the data that came out you are talking about existing home sales which make up roughly 80% of the market. when you talk about tolls and lenares you are talking about new home sales. yes, they're intertwined but look at the toll and the lenar story and look at the quarter they put up and the guidance they gave you. this slight blip in the data from last month isn't going to have an effect on them. you buy these home builders on the 15 and 20% pullbacks and they worked every time. >> what if rates simply at 250, even incr

josh lipton tallying the final numbers. josh, lucky you. >> reporter: bill, a whiplash day. i like that. choppy trading. the major averages finish in the green. that's the first two-week winning streak since may 17. a few things to touch on. one would be the technicals. i heard you talking to keith about that. the traders were watching that 50-day moving average at 1,626. we do finish and close above that short-term trend line. also, rising rates. you saw yields across the curve hit new 52-week highs today. you saw the impact of that on some rate-sensitive sectors. the homebuilders -- lennar, dr horton, pulte, all in the red today. of course, higher rate, steeper yield curve, better economic data with the jobs report. good news for the financials, but particularly the regional, zion, regions financial, all working today. and, finally, a stronger dollar. you saw the pop in the dxy, and gold takes a hit. you check out the miner, au, abx, all down hard in today's session. back to you. >> josh, thank you very much. >>> joining us to break down the volatility we saw in the market

i am josh lipton.atching caterpillar, the news cat saying it agreed to repurchase 1 billion in shares from stock gen, the deal involves 11 million shares. the ceo saying the continued strength of the company's balance sheet and strong cash flow puts cat in a good position to reaffirm its commitment to stockholders and cat up today and down for the year. remember, our delivering alpha erence saying short wrong products at the wrong time. scott, back to you. >> thanks so much. i don't know, you know, short if anybody on this desk but i know i don't think anybody likes cat here, right? >> by the way, everyone always criticizes management for buying high, right? and announcing these programs at the highs. this is nice the stock has under performed and they will buy at this point. i think the low 80s -- >> i know he would say this could be the buy. >> they could. the balance sheet is stronger than it was in the last down cycle and there is more to this story than just mining. there is a huge commercial cons

. >> josh lipton what do you think? >> so listen. it could be true the stock reacted quite well so the way you trade this is you wait two or three days or at least until monday because if this is the deal, it's going to go right up to the deal price. if it starts to break the deal price, then you have the potential there might be multiple bidders, but until you see that it's kind of difficult to go plowing into it. >> good trade skills. today's top trades. industrials holding strong with earnings off general electric honey well. ge seeing its best days since 2011 but missed on revenues. >> the margin side is what people are looking for. they are shrinking ge capital. the oil and gas sides, the luf kin purchase is starting to pay off. they have reaffirmed at least the margin and i believe they're going to see the growth. i would stay in this. ride this for an underperformer so far take this and go. >> next up, chipotle, shares rallying today, hit ingting a new 52-week high. >> this is a name that storted by many famous hedge fund mana

josh lipton is reviewing activity. josh, over to you. >> check out and, saying this one is a buy expecting strong performances as it begins to transition away from reliance on pc demand. price target here is 5 bucks. then the home builders, dhi, lennar, enjoying bounce back and positive news regarding flag ship cancer drug for celg. and the dow, gainers including intel, microsoft, which announced that long awaited restructuring, and disney. finally nasdaq, your biggest gainer randal resources. as dollar dropped, you saw some of the miners not joy big gains and amazon poked above 300 for the first time ever today. up 19% this year. and gap reporting june sales. same store sales up 7%, best in estimate. maria, back to you. >> thanks so much. another record day on wall street. lpl financials says stocks keep on running. but harry of survive and prosper has a different view. both joining me to make the case, jeff you say the run in stocks continues. what do you see driving the market higher from here? >> if you look at the

let's get to josh lipton and see what's moving on the floor, josh? >> carl, new week, new quarter.ive vibe. let's take a quick trip around the world, and china, remember last week at this time, all those fears? now we lirn that manufacturing there slows. shanghai index, though, did finish higher. inter-bank rates continue to moderate. sentiment of big manufacturers moves higher. first time it was positive since 2011. nikkei responds. hits a one-month high. in europe manufacturing pmi's, they clocked in better than preliminary reports first indicated. some strategists say, listen, don't expect the ecb to shift their monetary policy positions until their meetings on thursday. in a half hour you'll get the ism manufacturing consensus. looking for a rebound from 49 to 50.5. finally, let's talk techals. i was on the phone on the spx, katie says a short-term loan has been established. she is looking for positive follow-through, she says, in this holiday shortened week. guys, back to you. >> all right. thanks very much, josh lipton. talking about deals this morning. we did get one. it's t

joined by mary thompson and josh lipton. eps targets, 11% met estimates. 25% of reports have come in below. let's kick it off with big earnings watchesers. lexmark hitting levels it has not seen after 2 1/2 years. margins declined, the company's profit more than doubled on a large one-time gain from the sale of its ink jet business. second quarter mortgage insurer mgic swung to an unexpected q2 profit. shares of mgic trading up more than 11% right now. texas instruments leading the nasdaq 100 following itsq2 earnings result yesterday. josh lipton is here with some analysis. >> you saw texas instrument report pleases the street. everybody was busy raising their price targets. i think the basic theme is texas instruments getting out of that wireless chip business, low margin wireless. has to complete with qualcomm and other rivals. working hard to get its chips into televisions and cars so a better mix. you talk to analysts they say look at the fund free throw flows. there's a lot of concerns about high-end smartphones, pcs an

right to josh lipton. i want to look at microsoft and google selling off. josh, what cuts. >> two tech tightens. both down sharply in the after hours. they both missed on the bottom and the top lines. also call your attention to isrg. that's intu sieve surgical. also reported earnings of 390. the street wanted to see 404, also missed on the top line. >> earlier we heard from nba hall of famer charles barkley. up next joe thighsman will sit down with me before teeing off at the celebrity championship in ta hoe, back in a moment. router to up to 75 market centers to look for the best possible price -- maybe even better than you expected. it's all part of our goal to execute your trade in one second. i'm derrick chan of fidelity investments. our one-second trade execution is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. ever ybody has different investment objectives, ever ideas, goals, appetite for risk. you can't say 'one size fits all'. it doesn't. that's crazy. we're all totally differen

i'm josh lipton. keeping an eye on broad com here. second quarter loss. current quarter revenue forecasts missing what the street wanted to see. that stock hitting lows it has not seen since december 2011. carl, back to you. >> josh, thank you for that. speaking of tech, google is hosting a breakfast today with its chrome and android head. the invite does not reveal a whole lot but people are speculating it could be regarding the new nexus or maybe an update on chrome, maybe a hint at a much-anticipated moto x. john frt n fortt is at the even. good morning to both of you. jon, walk me through the scene over there, and walk me through your own expectations. what are we going to hear? >> well, carl, we've got a few folks lined up for the event now. a lot of the hometown heroes who i recognize. i don't expect any moto x. they sent out the invite. we expect to see that august 1st in new york. but the nexus 7, the latest version of that, some people say code named razor, we do expect higher resolution screen, 320 ppi, faster qualcomm chips

josh lipton is following all the ideas and big ideas coming out of conference and joins us now. josh? >> big names making big cams at our delivering alpha conference today. everyone, of course, talking about jim chanos and his call shorting caterpillar, and he is still short hewlett-packard. we'll delve deeper too that in just a moment. here's some of the other stock-moving headlines you might have missed. leon cooperman of omega advisers gave us ten picks. let's highlight two, qualcomm, manufacturers, semiconductors from mobile phones says there's too much pessimism in this name. talked about the 31 billion of cash and the balance sheet, no debt. he's a fan. also he was talking about sand ridge energy, the independent oil and natural gas company. cooperman saying this one has the potential of doubling in his opinion. look at that chart. cooperman speaks and investors listen, and we also heard from chris hawn of the children's investment fun. his funds, eads, saying the stock could double on a two-year horizon. porsche if it merges with advocates waggen, you could double your mon

i'm josh lipton. check out goodyear this morning.treet had been looking for 48 cents. getting a boost here from lower raw material prices, company also seeing signs of volumes stabilizing in europe. gt up more than 9% right now. carl, back to you. >> that's a big move. moves a lot generally, but that's a big one today. let's get to the cme group in chicago. rick santelli with "the santelli exchange." >> a couple things have occurred today that gave me the idea for this exchange. the first is, and i really look forward to these, one of steve liesman's surveys. i think surveys are key. gives you an idea of what people in the marketplace or economists in the strategizing or analyzing business, what they think. if you know what they think, especially if you're an investor, that is a very useful tool. another issue today was the release of the conference board consumer confidence. obviously, it is a form of a survey. but there are dangers to this form of thinking. consider this, if we look at some of the biggest issues that have made our

i'm josh lipton. visa reports and beats post 1.88 on 3 billion.s looking for 179 an 2 billion. the company also authorizing a 1.5 billion repurchase program. the stock up more than two percent right now. melissa, back to you. >> thank you, josh. karen, you've been in the payment space for a while. >> in master card but visa put up another got quarter. this story keeps continuing as the economy grows, not just here but around the world, credit and debit both up. it's not cheap but a great story. >> didn't you expect though that they would address that issue that europe brought up about whether or not they would hafl the fees. >> master kard and visa shook that off. they've's downplayed it since then. i don't know how that will shake off. the stocks don't seem to care. >> caterpillar shares taking a big hit. the traders were split on this desk last night. take a listen. >> cat pitter is going to get this thing wrong. they could be the lucent technology of 2013. >> wow. ultimately just because china is going to grow at 7 percent does not mean these g