maybe even more so than what jpmorgan does. >> jamie cox.o you think the comments about the housing market -- bullish comments will help lift sentiment? >> i hope so. last year did talk about the dividend. and i think that could be somewhat helpful. i think we'll see a buyback. that could be helpful as well. their earnings machine -- earning story is still in place. it's cheap. >> anything unusual in the markets with jpmorgan or financials at this point? >> not really. we saw a lot in december and january buying upside calls. even when vols were much higher. a lot of the easy money's been made. out to april, that's going to catch the q1 earnings report. it's realized that for the last 30 or 60 days. the options are reasonable if they want to mange a defined risk. >> one thing he didn't fully address is the potential for dividend increase that will clearly happen under jamie dimon's watch. and the second thing is relevant to today. i was with three of their private bankers for lunch. this is the best managed company. they went from the underw

i prefer to stay with the quality which is jpmorgan and wells fargo. the other issue i'm worried about in terms of citi is they still have to raise capital. if you take a look at the cds spreads on banks since the beginning of the year, they've come in, in a major way. which means that the credit markets feel a lot better about them. that also is not completely reflecting stocks. and contrary to what zach says i still think they're defensive. multiples are dirt cheap on the quality names like jpmorgan. >> yeah. all right let's move on to our next trade. amazon the 900 pound gorilla in the retail roompy. which brick and mortar stores are most vulnerable to amazon and which can hold up against the online retailer? david gober out with a detailed breakdown. good to have you on the program. >> thanks for having me. >> let's start with the winners first. who do you like? >> well, i think there's a number of different winners and losers in this battle. i think some of the brick and mortar retailers still have a lot of fire in them. you know, i think some of

not because -- not to say jpmorgan is right behind them.ink the company is embracing mortgage banking like wells fargo is and given harp two exceeding everybody's expectations wells fargo is the best position to take advantage of that. >> if i said i had $10,000 i want to put in the market right now you would not say jpmorgan you'd say wells or pnc? >> but they're right behind it. i would divide between the three of them. >> thanks so much paul miller from dbr today. karabell trade the banks. >> you know, i'm still, it's not where i think you really are going to put your money to best use in this market. for the downside, and for the upside. i mean, if you have a five-year thing you want to put $10,000 in and collect a dividend on j.p.morgan or some of those others, yields on the ten year is 2%, i suppose that's a legitimate investment call. it's not an interesting trading and/or market call for me given a priceline which has this world opportunity that is a funnel opening out. at best jpmorgan is like this for the next five years. >> yeah,

do you like jpmorgan chase at these levels?> love jpmorgan chase at these levels, one of our favorite names. we think the thing holding this back is vocal roll on the dodd frank rule. i think when that is accepted, it will take off. >> do you think chart-wise, the financials, strong this year, among the leadership will continue to lead this market higher? >> they are the one group that hasn't had as much appreciation as compared to others the last 12 months, plenty of headroom, lots to go. >> very good. gentlemen, paul, good to see you, let you play with this again next time you come around, if you are real good. maria? >> bill, thank you so much. >>> we have got 30 minutes before the closeling bell on wall street. the dow jones up 23 points on the session. up next, joined by the boss here at the nyse euro next, duncan niederauer, talking about declininging volume, volcker rule. don't miss this exclusive interview next on the closing bell. stay with us. tdd# 1-800-345-2550 checking the charts. tdd# 1-800-345-2550 looking for su

praised jpmorgan, and again i realize that you are not an investor in jpmorgan and i'm curious why note owns it, i'll let you know the secret. i own it personally. maybe it's just me, but i -- and again this goes back to the fact that i spent years and years professionally managing money for individuals and institutions. if i ever sat in a meeting and i said to the manager of a pension plan, i own the stock in my personal account, but i don't own it in the fund, you know what they would do, carl? take the money. the money leaves. you can't own a stock in a personal account that you don't own in a fund. and thirdly, bank of america. he talks about bank of america, clearly he's got the big investment now. and he makes a comment yesterday about the fact that management was handed a bad deal. management was handed a bad deal. nobody disputes that. but brian moynihan, the ceo, and let's just bring up the resume here, he was with the company through much of the 2004 through 2011 period. here's some of the resume here. to simply say, moynihan was not involved, he had senior management roles,

. >> same thing jpmorgan. i still stay away from bank of america. way too much legislation fear going on there. but jpmorgan. >> terranova? >> i think the bank's right here, the tape is going to take a correct. i think back in the capital markets trade the morgan stanleys the goldman sachs performed real nicely. also black stone, bx, they will perform well in this environment. >> for the first time in weeks i don't hear anybody saying wells fargo. what's up with that? is it just too expensive? >> just an admission, i like wells fargo but again, pullback is where it goes. those are the two kwaiest quality banks, jpmorgan and wells fargo. in terms of the capital markets plays goldman's had a pretty good run. i like the company quite a bit. but the capital volume -- the capital market volume is still really down. issuance isn't there yet. >> all right next up on the "halftime report," will rising gas prices change the dollar trade? we've got the play with the top analysts. plus one of the "fast money" traders is

and that's going to be the case with jpmorgan.not be affected by those numbers. all right. let's do some of these @jimcramer tweets. this one is from @andrewbailey8. how about this turn in ovti? new camera sensor ranked number one for 2011. think we will see it in the iphone 5? i've got to tell you, andrew. i have long since learned not to speculate on which way apple's going to go. look at the up and down of the skyward solution. because we really didn't know whether they were going to be in. look how difficult it was for cirrus logic. look how fickle apple is in that if you mention you that do business for apple on air, for instance on "mad money," apple will cut you off. it's too dicey a game. and i've got to tell you, that's a commodity business now. i don't want you to own ovti. as a matter of fact, the stock actually worries me. if you want to play apple, you play it with apple or you play it with broadcom, brcm, a stock i own for my charitable trust. it's doing quite pl. "mad money's" back after the break. >>> someone had t

and yesterday jpmorgan downgraded the stock to a sell in large part because they think it's gotten tooensive at these levels but also because they think there's competition coming and the addressable market might be smaller than some believe, including me. i think these are legitimate concerns, which is why i'm thrilled to have david demers and a new model of the natural gas engine behind me. david's the founder and ceo of westport innovations. he's here to talk to us tonight about his company and where it's headed. mr. demers, welcome back to "mad money." >> hey, jum. >> good to see you, sir. >> great to see you. >> what do you think? >> i've got to tell you, the first thing i have to say is if the addressable market is small like jpmorgan is saying, then what the heck are we doing with maybe the best-selling truck in the history of the country running natural gas? >> i think we can do anything. what kind of car would you like? we'll do it for you. you know, we think this is going to be a great product for people that are running around the oil patch of course, but it runs on gasoline

only jpmorgan chase the one heading higher. >>> back on the floor of the new york stock exchange.ou're standing in front of the post where they're making shares of pcs communications, which are moving lower today. working very hard, the target price now from ubs from neutral to buy, they lowered it. they're below the price target now. we wonder what ubs will do after this. first-quarter results out three months from now, appear on track to disappoint from pcs. ubs says seasonal weakness in the second and third quarters give investors little to look forward to, interestingly enough. remember this popped on cnbc on friday, when they reported that sprint nextel is walking away from the talks of the takeover of the wireless company that we didn't know was in the offing with this company. pcs shares are running slightly ahead of sprint's, although both have been stuck in negative territory over that same period of time. >> they may not be stealing the headlines, but there are "under the radar" stocks making big moves today. seema mody with the details. seema? >> maria, that's right. a

jpmorgan.ng about apple as basically a -- >> its own asset class. >> i like it. >> have you heard that before? >> there's gold. there's real estate. there's apple. i have criticized a lot by saying it's just another stock when steve jobs died. a lot of that is it's a great stock. ternings are there. i know jobs left them with ipad 4, apparently, apple the phone 6. in the end short term earnings momentum is fabulous. >> the important point out of the jpmorgan conference call as well is it's institutionally underowned. this notion that only -- what was it? 40% of mutual funds in the russell 1,000, 40% do not own apple shares. do not own apple shares. >> the common refrain is i missed it, i miss td it, i mi missed it. if they do my 55 number for fiscal 2012, you're seeing a stock that's still substantially cheaper than the average s&p stock and therefore it is still a buy. >> all right. let's head over to david who's got bob with him. >> all right. yeah, we do. we were just talking off camera abou

we turn our attention to volatility, plus jpmorgan holds investor day. where is the firm growth this year. if you just got an ipad 2 #, here we go again. it may be time to upgrade to the ipad 3, which we are told is on its way. today's "closing bell" exchange, we have all that covered and we start with our weather man, bob pisani at post 9s, and jon fortt is out in san jose. the dow 13,000, let's get it over with, huh? >> i think the suspense has passed on that. the ltro maria was taunging about, a lot of people say if it's low, below 300 billion, it means the banks don't need the money. i think folks feel if they have a nice cushion, that would give a lot of people a little better feeling. maybe 600, $700 billion, the goldilocks number would be just right. once again, we're getting a divergence between the transports and the industrials. i don't like it when this happens. you don't want to see several days in a row, all of a sudden the transports moving down and the industrials holding on the up side. that's a bad side. of course the s&p and nasdaq are

citigroup, goldman sachs, or jpmorgan chase? the "dividend" pays off after the "dividend" pays off after the break. just wanted to check and make sure that we were on schedule. >>> just before the break, as part of 9 "dividend," we asked which stock is the outperformer so far this year? citigroup, goldman sachs or jpmorgan chase? now, the payoff. goldman sachs. >>> welcome back. you're watching the "closing bell." i'm seema mody. another strong day for the nasdaq. upbeat economic data driving the bulls into tech. let's start with one of our tech heavy weights, microsoft. definitely catching the attention of investors. hitting a four-year high in today's trade. another bright spot, some of those recently listed tech ipos showing strength. groupon and linkedin being said they're both overvalued. chip stocks, recovering lost ground after a softer than expected sales outlook for the year. some analysts i spoke to say this morning that the weak forecast, perhaps only a temporary setback. maria and bill? >> seema, thank you very much.

. >>> up next, find out if jpmorgan is a good buy. stay tuned. a print out of how many hours i have actually put in over my career. and it's 168,000 hours. so just think, if you had an 8-hour job, i'm like a man of 100 and something years old. i've worked very hard to support my family. and i finally reached that point where i'm going to retire. ♪ ♪ dave, i've downloaded a virus. yeah. ♪ dave, where are we on the new laptop? it's so slow! i'm calling dave. [ telephone rings ] [ sighs ] i need a new i.t. guy. [ male announcer ] in a small business, technology is all you. staples easy tech experts are here to help. you must be... ...dave. [ male announcer ] with everything from new computers, to set-ups, to tune-ups. stapes. that was easy. >>> wblg back to "fast money." we are live in new york's time square. jamie dimon wrapping up his speech at investor day. shares of jpmorgan are slightly higher on the day. year to date up 18%. has been at the big meeting. joins us right now. gerard, what was a headline when you got out of the meeting? what was t

mary thompson at jpmorgan today. gold prices climbing to three-month highs as the euro and the stock market gained ground today. stoked by an upcoming european bank move to offer cheap money to companies starved of investment capital. we'll likely see the ltro program announced tomorrow. gold prices settling up at $1,787 an ounce. still talking about $106 a barrel oil. experts say it could lead to demand instruction which led some investors to take money off the table. get ready for another round of ipad mania. ipad expected to unveil the next generation in san francisco next week. word on the streets, the new ipad will have a quad core processor. wall street certainly welcomed the news. the stock at another all-time high tonight, closing up 1 #.8% at $135.41 a share. only one more day of trading left in the month. the dow and s&p 500 on track for the best february since 1998. averages all gained better than 20% since the october lows. so can this really continue? are we due for a correction? what's behind this munlt

the most popular bank, jpmorgan, is down at number 41.be jamie dimon or mark zuckerberg? >> mark zuckerberg. >> because he's a billionaire. >> reporter: they're heeding the advice horace greeley gave 100 years ago, go west, young man, go west and grow with the country. perhaps these numbers say it best. we mentioned that survey cited by "the wall street journal" last fall. it says 20% of early career professionals would like to work at google. 13% at apple, 9% at facebook. 2% at jpmorgan. also 2% at goldman sachs. >> i think it's kind of like a "duh" kind of question. that girl nailed it when she said, he's a billionaire. yeah, i'd rather be him. >> reporter: and most of them don't know who jamie dimon is. >> yeah. these days. i do sound like my mother, don't i? >> i'm just -- we have to go. i'm just saying it's still a little "love of money" type of stuff. doesn't matter what your suit is. >> reporter: it's all in the marketing, brian. it's in the marketing. >> exactly. >> great package. thanks very much, jane. >>> up next, it is valenti

we've got a power player from jpmorgan to get you the inside track. >>> the name of the game is farmville. and online maker zynga reports after the bell. how they're shaking up the business model for the entire video game industry. >>> and bikini-nomics. katie upton is in the building. trust me, we do have a business angle on this one. >> of course we do. >>> i'm sue herera with simon hobbs and brian shactman. "power lunch" begins right now. ♪ can't buy me love >> yes, greeting valentine's day with a little bit of red here. retail sales weaker than expected. no earnings to push stocks in either direction. here's where we stand right now. the dow down about 54 points. s&p 500 good for down .5%. same with the nasdaq. pulse of the markets, natural gas getting a pop here. would be characterized as a technical move, up 4.25%. the yield on the ten-year, the price is up but the yield is down. we are well below 2%. check out the dollar right here. the dollar index up .75%. midday movers, rackspace up big after reporting an 85% increase in fourth-quarter quarters. hospira up. and sales better than

he said not only for jpmorgan but for the industry as a whole. and then lastly, the firm is very committed to the mortgage business even though they're going to have unrelled losses through the end of the year. they believe this is an area that can make money. back to you. >> thank you very much, mary. >>> now a report card of sorts for the car industry. it was released just minutes ago. "consumer report" put out its annual car rankings. there's a bit of a surprise at the top. phil lebeau has the highlights. >> reporter: subaru is the number one automaker, according to "consumer reports." these guys have steadily been improving. and in 2012, they're at the top of the list, followed by maz sa, toyota, honda and nissan. first of all, toyota having five top picks in the new rankings in terms of five top pick models by "consumer reports," the most since '03. the camry hybrid the top pick. honda, this is going to get a lot of attention. fails to place a model among the top picks for the second time in the last three years. "consumer reports" says thes

we'll see whether he prefers jpmorgan or hewlett-packard in a future moments.cting formula. zero-to-sixty in less time than a porsche panamera s. the 429 horsepower genesis r-spec. from hyundai. like in a special ops mission? you'd spot movement, gather intelligence with minimal collateral damage. but rather than neutralizing enemies in their sleep, you'd be targeting stocks to trade. well, that's what trade architect's heat maps do. they make you a trading assassin. trade architect. td ameritrade's empowering, web-based trading platform. trade commission-free for 60 days, and we'll throw in up to $600 when you open an account. trade commission-free for 60 days, [ male announcer ] ylord of the carry-on.. sovereign of the security line. you never take an upgrade for granted. and you rent from national. because only national lets you choose any car in the aisle. and go. you can even take a full-size or above. and still pay the mid-size price. i deserve this. [ male announcer ] you do, business pro. you do. go national. go like a pro. >>> next up on "halftime repo

. >>> plus, lehman brothers subpoenas as activities continue of jpmorgan in the days before lehman collapsed. >>> hello. welcome to the program. a looming political crisis for germany is going to be the subject of our talking point this morning. christine is with us as well for two hours today. jim rogers will be joining us a witt later. german chancellor angela merkel called off her trip to rome, forced to cancel a scheduled meeting with mario monti in the wake of a scandal involving the german president christian wolfe. patricia is in frankfurt with the details. just to explain the background story here and what we're now expecting over the next hour and a half. >> reporter: the speculation, of course, is that christian wolfe, our german president, may athouns his resignation as early as today, half an hour after he will make his announcement we have angela amerimerkel also spg to the public, to the press, exactly about that. the reason why he would do such a thing is, of course, the pressure has started from the middle of last december. there are allegations about taking, accepting improp

but then in 1871, that's the emergence of the investment banker, fiscal, jpmorgan comes in. there's some growth there right in the early years. do you pick 1925? what do you pick? if you go back to 1981 dow around 1500 or so. so we can assume 30-year cycles will have 1200% growth? i just don't like the research. >> first of all, jack, were you impressed by the research or not? and what key levels are you watching that might convince people out of the market get back in and help achieve that 15,000 mark? >> sue, you know, it's a number. and people i think are really confusing this number with valuations. right now we are trading at a very cheap valuation. it's all about multiples expansion. you're talking about a record earnings level right now for the s&p 500. so it's really a question of confidence. it's a question of what multiple do you attach to that market? with a 2% or less 10-year right now, there's no reason we can't see a 15 or 16 multiple. if that's the case, think about it. only 17% away from 15,000. i think we can probably see it sooner than that article told us.

prestamos hipotecarios con una de estas cinco entidades: take gfx banco de america, wells fargo, jpmorgan chase, citygroup y ally financial dueÑa de gmac... jacqueline marcelos/consejer a de vivienda meda 1:55 las personas que tienen prestamos que los duenos de este prestamo se freddie mac o fannie mae no pueden calificar para esto, ellos tienen que continuar con los programas del gobierno 2:05 duenos de casa emproblemados con sus prestamos como maria, podran recibir modificacione s de sus hipotecas, reduccion de los intereses e incluso de los balances como parte del acuerdo...eso es lo que necesita maria... maria villarreal/busca una modificacion de wells fargo 29:20 no duermo no tengo paz no tengo tranquilidad ni mi esposo ni mis hijos ni yo ha sido una cosa bien bien terrible para nosotros 29:30 ella tiene su prestamo con wells fargo, y potencialment e se podria beneficiar, pero esta lejos de celebrar. 29:50 han prometido tantas cosas pero nunca se han cumplido 29:52 30:05 pues la verdad hasta no ver la realidad hasta entonces yo me voy a poner contenta 30:09 para las personas que ya p

banking stocks sensitive to news and developments out of europe, two stocks, bank of america and jpmorgan, bank of america up better than 48% year-to-date. switching to form a stock, that is pfizer, they have new uses for their targeted cancer drugs. stock up 1.5%. switch to tech. google's addition of the phone industry, that is driving their share higher. a price target for sarah lee of up to $24. and lastly, it's a historic day, apple hitting an all-time high, and berth a will have interesting data on apple and make sure to watch out for that those are the stock movers. back to you. >> you may have seen the graphic a moment ago that they halted trading at the group in oil, what is that about? >> it's not just oil futures, it's heating oil, and gas oil as well. traders that are left on the floor are in panic mode, some of them have positions on and are unable to get out of them. what the cne group is saying, they were halted due to a technical glitch and they are trying figure out what is the cause of the glitch, the factory mains that all day and session orders, will be cancelled. they

the dow leaders included bank of america, which is up some 40 plus percent this year and jpmorgan and united technologies contributing to the strength we saw in industrials. utx, a report saying they are considering selling a flow business and another business that could raise 3.5 billion and pfizer contributing to the dow's gain. let's look at apple and see where it's settling out there. looks like it will settle above that $500 mark for the first timer. the earnings season is wiepding down, diebold, maker of atms, provided a favorable forecast for the year ahead. if you are in new york and have been hit with lin-sanity, you know this point guard sensation has caught new york's attention and it has caught investor's attention in madison square garden, because it's in a dispute with time warner, two million people cannot see the knicks play, we will see if that brings time warner back to the bargaining table. >> so they have no idea who jermey lin is then. >> i think they do know. you would have to live under a rock not to know. the retail index hit an all time high today and retail s

jpmorgan does a good job integrating the businesses across and so they do a good job integrating theirestment bank with their commercial bank so they do a better job than most of that. but with wells is kind of like just a very large community bank which tends to have higher returns than larger banks. >> so a low rate environment, if the fed doesn't raise rates until 2014 what does that mean? >> their net interest will be flattish. two-thirds of the earnings increase we are projecting comes from lower expenses so they're taking down their expenses. a lot of that coming from a merger -- the acquisition of wachovia in 2009. and so we're hopeful that they can do that. it hinges on whether they can get that done. >> what happens if rates go up sooner than 2014, if the economy turns around and suddenly mid-2013 we're looking at higher interest rates? >> most banks will benefit. nearly all banks and wells will be one of the beneficiaries. >> so this is a bank that you would be buying as interest rates start to climb or is it a bank you start to buy as you think interest rates -- >> as you th

. >> do they differentiate between bank of america and are they more bullish than jpmorgan? >> yes, they are. they are more bullish based on whether we look at the volume itself obviously 10 or 20 times more volume trades than the other stocks. >> is that because it's a fifth? >> a cheap shot, but also a lot of us would say because it's a cheap shot and an $8 stock, that's what the options cost in a lot of the other stocks. why wouldn't people buy the stock? they can lever up an awful lot of the stock and that trade worked out well. >> xlf becomes attractive. you look at the top holdings and wells fargo and jpmorgan and city, bank of america, goldman and american express. those eight companies, you moved this element of potentially. i think the xlf is the first entree you take here into the financials if you haven't been in them yet. >> does that change your view and you more optimistic than 24 hours ago. >> we have known for a few days. one last thing. bank of america, the whole bank sector was a proxy for the banking sector when you couldn't short them. they would come her

jpmorgan on the up side. banks one of the weak groups recently, or moving sideways, was slightly on the up side today. airlines had a terrible week overall. just take a look at the numbers in the declines we've seen in the airlines as the price of oil has moved to the up side. but remember, the airline companies raised prices in january, and february, so they're not all going to get necessarily hit that bad. they've got some money to cover it. finally, guys, i was asked why the italian banks were weak today. there is a ban on short selling of italian banks, that's going to end tomorrow. the volume was unusually heavy in all the italian banks. most of them trade over in new york, not here at the nyse. >> as we await the earnings report from aig, and i'll just give you the estimate, they're expecting earnings of 63 cents a share. before we get to that, let's get to some of the other business headlines right now. president obama warning voters that the solution for reducing high gasoline prices is not more drill

jpmorgan chase generally offers $10,000 -- $1,000 to $3,500 as settlement. homeland security secretary janet napolitano announced of is-based prescreening project allows some passengers to avoid long lines with prescreening. it is currently in use at seven airports. >> now your 11 insta-weather- plus forecast with john collins. >> let's look at our hd doppler rate are once again. we kind of a divide the areas where it it is rain or snow and. what we cannot show you is that many of these areas south of baltimore are not getting anything. basically, this is from i-95 south. what you are seeing down here, nothing is happening yet. once you get to the north, just north of the city, we're beginning to see some sprinkles develop there. once you get to the colder air around carroll county, they are getting some snow showers around the westminster are. and points west and northwest. that is going to be moving to the east. temperatures are warm enough where it might start out as a sprinkle or rain shower, but the minute that starts to cool the atmosphere down, you ex

jpmorgan on the verge of popping out a little bit here. weak day for the airlines, just a terrible week as oil has popped rather heavily. those more heavily exposed like us airways and united, ual, down noticeably. >> bob, thank you very much. as we nknow, the u.s. market ha seen good rallies this year. every party needs a poope. one of our next guests remains bearish on the markets. while our other guest says the stocks have not yet reached their highs. is there more room to run or not? >> joining us in his debate, we have the managing principal at land coal trading. and anthony valeri. hello, mr. party pooper, i believe that would be you. you are bearish. >> yes. >> what are you seeing that makes you bearish that investors are not seeing? >> it's about earnings right now. so far, what we've heard reported, 64% of s&p 500 companies have beat their bottom line estimate. the historical average is 62%. remember, this is on a lowered expectations. that's a draw for concern for me right there. i have to wonder where are the earnings coming dow

wells fargo, bank of america, allied, and citibank and jpmorgan chase would reduce the amount borrowers owed. >>> voters in colorado and minnesota are holding caucuses while missouri has the non- binding primary today. frontrunner mitt romney held a rally in loveland, colorado taking aim at president obama. romney criticized the president for cutting the defense benefit. >>> rick santorum is in colorado springs hoping his weeks of criticism of romney will catapult him to victory, and polls show that santorum leads in minnesota. >>> newt gingrich is campaigning in ohio saying heed not expect to win in colorado and win win and heed not qualify on time to be on the ballot in missouri. the chronicle reports that gingrich will be in the bay area later this month. the former house speaker will reportedly be speaking at the california gop convention held in burlingame february 24 through the 26th. >>> the u.s. senate has passed a more long-term funding bill for the federal aviation administration. since 2007, there have been 23 stop-gap faa funding measures. the $63.4 billion bill funds the fa

. >> this air force veteran just became jpmorgan's newest employee. >> they asked me when i could start. i cannot believe it. but it happened and i'm excited. >> more than 1000 people packed the job there, set up exclusively. for veterans and spouses but was not just a job fair, it is a hiring fair. >> we have five confirmed hires who will be coming in now. >> that is why the job there is so unique. at that iran could walk through the door, drop off their resume, and sit down for an immediate interview and walk out the door with a brand new job. among veterans, the unemployment rate is 13% well over the national average. today's event had it importance beyond giving back to those who served the nation. that these companies are helping these batteries understand how their skills and talents translate into the private sector. >> for many companies, those skills are what they're looking for. >> they bring phenomenal leadership skills, the importance of loyalty as it relates to working in an organization. >> he said your the person i have been looking for. that brought tears to my eyes. i d

it make take three months before -- people with mortgages held by bank of america, city bank, jpmorgan, chase, and bank gmac or wells fargo could be able to refinance the loans, or have the amount they owe reduced. >>> they just sounded just exhausted by the process, so the fact there was somebody there that could help them, having a counselor gave them hope that, you know, they may not have to go about this themselves. >> do you see anybody not busy? you can reach the attorney general's office hotline, here at the number. 40 '04 10-576 -- those forced in the foreclosure by the banks in the last tree years, you may be eligible for up to $2000. >>> here's the latest on the future of our grand prix of baltimore, we should know within 48 hours who will put their foot on the pedal. the mayor is expected to negotiate a contract. it's believed to be a local group. the previous contract was terminated after the first year because the group failed to pay the city $1.5 million. >>> and mayor walling brake held her third state of city address, and we herd her goal of adding 10,000 families to a

made it official this morning after years of foreclosure abuse claims, five banks, bank of america, jpmorgan chase, wells fargo, citibank and ally financial will settle with 49 states to the tune of 26 billion dollars. the deal means nearly one million households with will reduce their loans and 750,000 people whose homes were foreclosed on will get a check for $2,000. >> all told this isn't just good for these families it is good for their neighborhoods, their communities and our economy. >> reporter: california attorney general kamala harris did not like the original deal and held out. it is paying off. now out of the nearly 26 billion dollar total the golden state will get 18 billion. in a statement harris said, this outcome is the result of an insistence that california receive a fair deal commensurate with the harm done here. harris was concerned by accepting the settlement she and other homeowners wouldn't be able to take further legal action. that's not the case. >> it does not, it does not prevent state and federal authorities from pursuing criminal enforcement actions. >> reporter:

made it official this morning after years of foreclosure abuse claims, five banks, bank of america, jpmorgan chase, wells fargo, citibank and ally financial will settle with 49 states to the tune of 26 billion dollars. the deal means nearly one million households with will reduce their loans and 750,000 people whose homes were foreclosed on will get a check for $2,000. >> all told this isn't just good for these families it is good for their neighborhoods, their communities and our economy. >> reporter: california attorney general kamala harris did not like the original deal and held out. it is paying off. now out of the nearly 26 billion dollar total the golden state will get 18 billion. in a statement harris said, this outcome is the result of an insistence that california receive a fair deal commensurate with the harm done here. harris was concerned by accepting the settlement she and other homeowners wouldn't be able to take further legal action. that's not the case. >> it does not, it does not prevent state and federal authorities from pursuing criminal enforcement actions. >> reporter:

wees, you said after buffett said that, you bought jpmorgan. >> i was looking to buy jpmorgan. >> were you looking for a buffett bounce? >> for trade -- this is starting to build a position. what i was afraid was going to happen is what happened at ibm. he came in and said he bought it for the fund and the stock took off. i figure worst case it's a trade. it wasn't down with confidence. it was down with the european market. best case i get a good price. i like it. it's eight and a half times and they pick up major share in europe and asia because the banks there are selling assets and other credit lines to fund businesses. >> this is one you've like fod for a while and haven't always been right for it. this is one you had last year and held it for a while and got rid of it? you still like the fundamentals of the business perhaps more than ever. >> i do. i don't like the capital markets business. that's still under pressure and volumes aren't there. it will come back as markets come back. the main reason i sold the stock last year is you were beating the crap out of me every show. i can

bank of america, citigroup, wells fargo, jpmorgan chase -- just to name a few.t is important because if they settle with the bank, they avoid lawsuits. the result of the payout would be 750,000 people who lost their homes in the u.s. would receive about $2,000 each. and 1 million more would see their bree -- their mortgage reduce or refinanced. if they do reach a settlement at $25 billion, it will be the biggest ever between the u.s. government and a single industry. >> but the deal is not signed and delivered yet? >> no, but very close. it is likely. >> there is more to it than just interest rates, isn't there? >> absolutely. nobody was expecting any change in interest rates. the focus was, will these central banks within this region that is struggling, will they put more money into the system? we heard from the bank of england 20 minutes ago and that is a darkly what they are doing. it has increased its quantitative easing, qe, by the tune of $29 billion. even though it does risk inflation -- deposes that a threat to inflation. the european central bank -- it

jpmorgan, citi, it's like crisis time is over. >> so what are we looking at this week? >> i want to look the other way. so bank of america is a stock that people keep buying hand over fist. it's a single dollar name and people can get big in it. i want to look out a few months and say to myself this 40% gain, maybe there's a lot of good news in the stock going forward. i'm trying to figure out inventive structures that don't cost me a heck of a lot of money that will play for a retracement. >> dan is using what a called a one by two put spread. it is a bearish bet. one we haven't used in awhile. let's review. you buy one put then offset by selling two lower strike puts of the same expiration. since you are short more puts than long, you may have to buy lower. what is the trade here? >> that last point is the key one. you are short more options than you're long. and there's risk to it. this is not for everybody. i want to look out to may expiration. today when the stock was 780, i bought the one by two put spread. i paid a nickel for it. i bought one of the may 7 puts fo

jpmorgan is trading more like eight times.er r.o.e.s and better visibility as well. >> if cramer were here, he might talk about how you may want to favor banks more -- is that a hard and fast rule to you? >> i think names like u.s. bank corp is something we also like. they're growing revenues and share and has an industry leading r.o.e., so we like that as a quality name. suntrust may also be a domestic name that's really cheap on valuation, but we also like, again jpmorgan, goldman sachs that are taking the opportunity. we are seeing the european banks pulling back so a longer-term possibility. >> thank you for your time today. >> okay. number two in our block of trades, potentially 80% in what we like to call our under the radar place. shares of avis. fred lawrence is a senior research analyst working for avondale partners. thank you for joining us. >> thanks for having me. >> a great performance so far this year. it had a terrible 2011, did it not? >> it does. it would a second half, and a lot of other stocks out there. so

this time it's the new york state attorney general suing bank of america, jpmorgan chase and wells fargolleging fraud when it comes to use of the national electronic system. it was created by the banks as a private registry to make it frankly easier to track all that paperwork. now, from the lawsuit we're told there's something like 70 million mortgages that have been registered, 30 million are active. mers continues to be active in 60% of the origination of all mortgage loans in the u.s. the lawsuit says employees and agents of the bank of america, jpmorgan and wells fargo used the registry as "an end run around the property recording system so they could securetize those loans" mers has been under fire for about two years, however it's a small portion of the foreclosure nightmare of course facing the banks. as we all know a universal settlement involving all 50 states attorney general have been illusive to say the least. as bob pisani reported, stocks have been on a good run following the jobs report. >> thank you very much, hampton. up next, jobs and your money. as you know that monst

today's power player is robert michael, jpmorgan's fixed income and currency group.re he oversees $140 billion in assets. full day's worth. bob makes his first-ever appearance and you're calm. >> thank you for inviting me. >> we're going to have fun. welcome. good to have you here. >> thank you. >> i'm looking as i think a lot of american investors are looking for last words on greece knowing we're never going to hear the last words on greece, i want to get your impression on whether the deal that was struck over this weekend in your view is the best of a bunch of bad possible outcomes? and whether in as some people believe, the smarter course would have been to have an orderly default that would have allowed greece to leave the euro, go back to the drachma and devalue its way to a kind of prosperity? >> well, i think what happened this weekend is decidedly positive for the markets. i don't think a disorderly unwind or restructuring of greek debt and greece leaving the euro helps anyone. i think then it opens the door to flight of capital from other sovereigns, from

wells fargo is a little bit unique compared to jpmorgan and bank of america.al assets about half the size. a lot of potential to grow. i think warren buffett is focusing on the fact this particular bank has a lot of room to grow. yet he's not discounting the other banks. he also pointed out that he made a personal investment in jpmorgan chase. >> does it work for the average investor to mirror his investments or not? >> you know, i think sometimes it does. but i think it really depends on how he makes that investment. for example in bank of america he bought pipes. he was not buying the stock directly. he bought a special type of security that gave him warrants and a very high dividend while he waits. but in wells fargo, he made a direct investment into the equity. and i would feel much more comfortable buying a stock where he's actually buying the stock himself rather than using a special type of vehicle. >> tom, let me turn to you. he also had some very interesting things to say about u.s. housing. is there any play that you would make based on his embracing

. >> reporter: the deal involves bank of america, wells fargo, jpmorgan chase, citigroup, and allied financial. those five handle more than half of all outstanding mortgages. while the deal does bring relief to nearly two million who who is, there are still millions of -- homeowners, there are still millions of others at risk. the state attorney general initially balked at the proposal calling it inadequate but california has now signed on after securing that $18 billion. harris says, "we insisted on homeowner relief for californians and demanded enforceability so homeowners see a benefit allowing them to stay in their homes and preserved our ability to investigate baker crime and predatory lending. "-- banker crime and predatory lending." the banks have three years to fulfill the terms of the deal. oklahoma is the only state now not signed on. >> let's hope this takes a little bit of the sting away. >> reporter: it's not going to solve the problem but it's going to make us feel better that we bailed out the banks. >> every little bit helps. >>> more positive news on the jobs front.

is going to sign off on the multi-billion dollar deal with the big five banks, bank of america, jpmorgan chase, wells fargo, citibank and allied financial the deal worth between 25 and 39 billion dollars, reducing loans for underwater homeowners and paying out up to $2,000 to people who wrongfully lost their homes. the reason harris was holding out was signing meant state was not be able to sue for fraud. she learned she would still be able to sue unfederal law. new york's attorney general -- under federal law. new york's attorney general has already filed again the banks. -- filed against the banks. that lawsuit is being allowed to move forward. the official announcement could come as early as today. katie marzullo, abc7 news. >>> 4:35 the bay area optometrist accused of shooting an agent apparently knew the agent's wife. the suspect and the victim's wife pet at optical school less than a year ago -- met at optical school less than a year ago. detectives believe bagwell waited for the victim to walk out of his home and fired five shots. the agent remains in critical condition. >>> polic

. >> i just got offereded a job with jpmorgan.t's a prelevel position in newark, delaware, and i'm excited about it. >> reporter: it's part of the initiative to reduce military and spouse unemployment. the challenge to the private sector is to employ 100,000 of them by the end of next year. >> it's a big transition to go from military back to civilian life and seeing dedication and commitment to helping people make that is great to see. >> reporter: this was a hiring event and not a job fair because veterans could preregister and learn about employers to be there so they would be better prepared. >> they have come with resumes ready to go. they have done research on the internet seeing what's available. they knew which companies were going to be here. who offers what. everybody was well prepared to meet each other today. it was a great day. >> reporter: the event was part of the 100,000 jobs mission now made up of 29 companies who have hired 6,600 veterans in the last year. >> when we pre-prospect our soldiers, sailors and marines

. >> the settlement was with the five largest service error, bank of america, jpmorgan chase, wells fargo, city bank, and ally gmac. >> the settlement isn't going to cover everyone even with those five servicers. most significantly, it's not going to cover people whose loans are owned by freddie mac orphan any may. >> reporter: it could be three months or more before any mortgage holder gets any assistance. but operators at the hotline are offering these tips. if you don't have one already, you should get a housing cons sorry attach to -- counselor attached to your case by calling 1-877-462-7555. keep making your payments if you can. and make sure you open any letters or answer any calls from your bank. >> the banks have an incentive if they get this relief out to people quickly under the agreement, and then there are penalties if they delay. >> reporter: jeff hager, abc 2 news. >>> if you need help, grab a pen. you can call the attorney general's office for help, 410-576-6300. if you lost your home to foreclosure over the last three years to one of the banks listed in the settlement, you

bank of america, jpmorgan, citi groorks and allied financial agreed to reduce loan payments and pay those wrongly foreclosed upon. the settlement only covers mortgages owned by those banks and not fanny mae and freddie mac. google is close to drive. "the wall street journal" says it's going to allow people to store on remote servers so they can be accessed and shared. google is expected to launch drive in the next few weeks or months. it will be free for most. back over to you. >> thank you very much, jackie. >> speaking of clouds, meteorologist christina loren joins us. we're going to have a wonderful day. >> because my head's up in the clouds? >> we like that the way. >> we have rain dropping from the clouds as we head through next week. starting this weekend we've got a rainy pattern that will kick into high gear as we kick off next week. and we're talking about maybe an inch of rain. a couple storms on the way to the bay area, that would significantly change the conditions that we've got in store for you. sunshine and 70, 47 now in concord. at 44 degrees in livermore, so much cooler t

so a short-term tactical idea from morgan stanley on jpmorgan. pete. >> love this call. actually saw that call earlier in the day. stock's starting to perform very nicely. right now best in the breed when you're looking alt these moneys. >> next on the "halftime report" live outside apple headquarters minutes before the start of the shareholder meeting. the buzz and the trade when the "halftime report" returns. looking for a better place to put your cash? here's one you may not have thought of: 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. >>> welcome back to the ft. meade "halftime report." as you know, the apple shareholder meeting is set to begin shortly. let's check in with jon for