let's go now to cnbc's kayla tausche. she joins us with breaking news on google.st sat down on the record with google's executive chairman who made comments about larry page, the co-ceo. larry's been out, he lost his voice. highs not at sun valley because it's a very public speaking event but schmidt said he'd been in the office since monday, he's not expected to miss any other public meetings in the future. that is something we about update for you going forward. the other comment he's made were on the fiscal cliff. he said the existence of something like a cliff is merely causing spookiness to go into the economy. it spooks investors and he called it a disaster, the behavior in washington and a failure to reach a solution all this time is just unacceptable and is a real, real detriment to american business. we'll have the full extended comments from schmidt tomorrow on "squawk box." that's the latest from sun valley. >> thanks, kayla tausche. i think he got that completely right. now, as we head toward the election, much of the rhetoric dealing with wealth has a

cnbc's kayla tausche is live with us now to tell us more about this. rning. >> good morning, aaron. that's right, the government is urging colleges and universities to adopt an easier-to-understand financial aid form to help students make smarter decisions. the department of education and consumer financial protection bureau is unveiling a one-page "shopping sheet" today to provide incoming students with information on the cost of tuition, housing and other fees so they can decide where to go to school, how much they'll pay and what they'll eventually owe >>> and pepsi scores big at the super bowl. the soda and snack food giant has struck a multiyear deal with the nfl to sponsor the halftime show. pepsi last sponsored the halftime festivities in 2007 when prince performed. the audience for the halftime show this past february was a tiny 114 million when madonna performed. that was a higher average than the game itself. sounds like a good deal for pepsi. back to you. >> kayla tausche, thank you. >>> you may want to buy groupon online to get great deals

cnbc's kayla tausche is live with that. good morning. >>> hi, good morning, aaron.is looking to target a younger demographic. the "wall street journal" reports the auction site may let kids under the age of 18 set up accounts to buy items like vintage clothing, jewelry and school supplies, but ebay will likely require parents to sign off on those accounts and will try to shield minors from buying adult content. ebay already lets teenagers use credit cards with parental supervision. we'll see if it goes through. >> kayla tausche, thank you. >>> time for weather and traffic on the 1s. talking about dangerous high heat, tom. >> and unfortunately, some storms that might unfortunately cause power outages. don't say it! don't even think about it! >> no more! >> well, it might happen. right now, everything is tranquil and serene, no problems, and we have the humidity beginning to build, but still fairly pleasant. 60s in the suburbs and rural areas and low to mid-70s closer to washington and right near the bay waters. and we do have a large area under a heat advisory today.

for a check of the markets we turn to kayla tausche. good morning. >> good morning.nfortunately we'll have to wait until thursday for all of the tech excitement and right now we have bad news in the markets. we have futures pointing to a negative stock market open following friday's losses as eurozone fears continue to spook investors. stocks in asia and europe getting hammered on rising worries and gerns that greece may not get further aid. we'll get earnings from mcdonald's and texas instruments. the dow closed 1% lower friday to 12,823, and the nasdaq lost 1.4% to 2925. we do have a host of earnings due out beginning with mcdonald's. the fast food chain warning that the weak environment, rising expenses and currency exchange rates could hurt results. concerns may also strain earnings from texas instruments. and all eyes on apple and facebook later this week. facebook's first quarter as a public company, no doubt we'll be watching that. back to you. >> thanks so much, kayla. >> one more check. you said a cool start and another nice day. >> it is going to be a hot o

profits are parched by drought for more on that and the rest of the news before the bell we turn to kayla tauschegood morning. >> hi, good morning. we do have futures in the markets that are flat this morning following yesterday's monster rally, stocks surged on comments largely from the head of the european central bank telling a financial conference in london the ecb will do whatever necessary to protect the euro and member nations and that renewed optimism there may be programs on the way. there was good news on u.s. unemployment and durable goods and we get data on consumer sentiment and a first look at how the economy performed this spring. growth is expected to have slowed. the dow jumps yesterday to 12,887, the nasdaq rising 39 to 2893. eric cantor says lawmakers may take up legislation next week to help farmers and ranchers hit by the drought. it's likely to focus more on livestock producers and corn and soybean farmers are partly protected by crop insurance from drought damage. but few livestock producers have insurance and a federal disaster program for them expired last year. we'll kee

for the rest of the news before the bell we turn to kayla tausche. good morning. >> good morning.ayoffs after more for cisco systems cutting 2% of its work force or about 1300 jobs as part of the company's ongoing restructuring program. the move on top of cuts announced last year and after the ceo john chambers gave a bleak assessment of the global economy in may. the government is urging colleges and universities to adopt an easier to understand financial aid form to help students make smarter decisions. the department of education and the consumer financial protection bureau is unveiling a one-page shopping sheet that would provide students with information on the cost of tuition, housing and other fees so they can decide where to go to school, how much to pay and what they will owe. futures are slightly lower after the dow suffered again from a case of the mondays. closing down for the past, get this, eight mondays, the first time that happened in a decade. stocks did claw back from a sharply lower open, the dow had been down as much as 239 points, on fresh concerns about europ

if there was one reporter to send to root out the big guns, it's our own kayla tausche, and she joinsporter: simon, you're too good to me, but earlier, we did bring you the latest in the carriage wars. the other big elephant in the room here at the 30th annual allen & company media conference is yahoo! of course, executives here have seen many iterations of the company, including many former executives who are in tow this week. of course, with an all-important board meeting this afternoon, one of the main topics at that meeting will be the status of the ceo, interim ceo ross levinsohn clearly leading the pack, but a decision may be announced at tomorrow's shareholder meeting. we've been talking to some of the moguls here and ran into former yahoo ceo terry semel who was known for making a failed bid to take over google in the early 2000s. he says for shareholders in joo, it may be a bumpy road coming up in the near term. >> nothing's going to change overnight, but i think it's a company with great assets and some really good people and great financial capabilities. so, i wish them not

cnbc's kayla tausch is at the new york stock exchange. >> good morning, natalie. wall street is starting the week on an optimistic note. investors hoping that the world's two most powerful central banks including the u.s. federal reserve will take actions to boost the economy when they meet later this week. now, markets have been rising on that prospect because a boost would be much needed, especially after sluggish economic growth this spring and weakening profits from corporate america. back over to you. >> all right, kayla tausch at the new york stock exchange, thank you. >>> and the olympic opening ceremony was spectacular, but was it out of this world? eagle eagle-eyed viewers watching over london's olympic stadium went wild online when they saw what just had to be a ufo. while no doubt the opening ceremony was the hottest ticket in the galaxy the mysterious flying saucer was -- just the goodyear blimp. it's now 7:14. now back to matt, savannah and al. >> i'm still not convinced. >> it had a little glow around it. >> well, joining the parade of nations. >> th

kayla tausche joins us with the latest. >> easternings are instilled that mobile ads will not trickleown to margins any time soon. the team still expressing frustration with this stock during it's first quarter as a public company. david ebersman saying he was disappointment on how the stock has trades. that's an under statement from those that have watched it drop. it looks like the worst is not over. in roughly two weeks more will be eligible to be sold. it's more than the shares offered in may. it looks like the bleeding could continue. >> yeah, a tough few days there, thank you. dan niles from alpha one capital partners warned investors to stay away from facebook. >> i'm calling dan the happiest facebook investor because he shorted it at 42. dan, you were clearly right about the facebook ipo, what about these levels, any interest? >> the call itself validated all of the concerns i had going in, and the real problem with facebook is not that it's not a great company. i have a facebook account. i'm sure you might have them as well. the problem is that doesn't mean it's a great stock

find out what eric matt told y kayla tausche. we start with j.p. morgan, the big story of the day.he stock is up moving sharply higher. have you the latest. >> following it and the media call has begun and not sure if jamie dimon is on that call, but it follows what was a two-hour, you might imagine, very unusual analyst meeting for j.p. morgan. a lot devoted to losses at the chief investment office and those happening in the second quarter of 4.4 billion and $1.6 billion in the first quarter, so a $6 billion pretax loss given that trading strategy that went awry and now a number of significant questions about that overall because of a press release that came out this morning in which the company says it was no longer confident that the trader marks reflected, quote, good faith estimates of trader value at the end of last quarter. that's raising questions whether this perhaps will become a criminal matter and very much unclear whether that is the case. a couple of questions asked on the press call at this point about where things really stand because mike cavanaugh who runs treasur

kayla tausche over there. >> watching shares of roper industries.leaders of the s&p 500 this morning. big question is the fact that they beat their earnings and they have raised their outlook for 2012, acquiring a private company, sunquest, for over $1 billion. it's really that outlook for 2012 that's doing the brick here. >>> empty seats at the london olympics have organizers scramble to fill the vacancieva. how are the corporate sponsors reacting to that? we'll take you live back to london. london 2012 next on cnbc. you want to save money on car insurance? no problem. you want to save money on rv insurance? no problem. you want to save money on motorcycle insurance? no problem. you want to find a place to park all these things? fuggedaboud it. this is new york. hey little guy, wake up! aw, come off it mate! geico. saving people money on more than just car insurance. >>> day three of competition at the london olympic games. welcome back to "squawk on the street." after an amazing, dramatic weekend of sports, of course waking up this morning to a di

we turn to kayla tausche. good morning. >> good morning. we have futures that are slightly lower this morning after the dow suffered again from case of the mondays. the dow closing down for the past eight mondays, the first time that happened in a decade. stocks did claw back from a sharp ly lower open. the dow has been down as much as 239 points on fresh concerns about europe and whether spain will need a full-blown bailout. there is no economic data but we get earnings from at&t, dupont, ups and apple. the dow losing 101 to 12,721 t nasdaq falling 35 to 2890. and pepsi scores big at the super bowl. the soda giant has struck a multi-year deal to sponsor the halftime show. all-important halftime show. the last time pepsi sponsored was in 2007, when prince performed. the audience this year, a tidy 114 million when madonna performed. that trend continues. looks like a sweet deal for pepsi. >> i'm going to ask our direct tear give the camera a whack. there we go. today's agenda, the engineer from mozyla will demonstrate how to open hotel room

kayla tausche has those numbers. good morning. >> scott, it wasn't a good day for facebook. slumping more than 10% last night. the social networking giant reported a net loss as a public company. the revenue growth was the slowest in more than a year. more people are logging on from their smart phones which is why there was speculation about facebook making a phone but facebook on mobile doesn't have as many paid ads. it's lost a third of the value since may and starbucks stock flagging down about 10%. while the coffee chain's quarterly profits rose they missed wall street's and its own forecasts. the company says fewer people are visiting stores, customer traffic started slowing in june and that trend has continued. but the ceo says this is more of a broader economic issue pointing to weaker consumer confidence or maybe just fewer frap a clee noes. back to you. >> it's funny when we talk about the economy we often say the cost of a latte or something like that is a measurement and people are beginning to notice the $4 cup of coffee is expensive. >> it can add up. thank you

kayla tausche is live with that. good morning. >> good morning, scott. futures unfortunately pointing to a negative stock market open, that's following friday's launches as eurozone fears spook investors. stocks in asia and europe getting hammered on worries about spain and concerns that greece may not get further aid. we'll get earnings from mcdonald's and texas instruments. the dow closed 1% lower friday to 12,823, and the nasdaq lost 1.4% to 2925. a setback for kodak after losing a key patent lawsuit. at issue is its digital image preview technology which could dak argues is used by modern cameras. a u.s. trade panel up holding a finding that neither company violated kodak's rights. the ruling could hurt its efforts to get a high price for its pa tent. >> comes to us from inglewood cliff, new jersey, talking to us via satellite. the fact we can talk to somebody across the continent is not worth mentioning except it's 50 years since this, the first time a tv image was beamed via satellite. here you see old animation. it included president kennedy's pre

kayla tausche is here. >> they hope to mirror the success of five below today. the sting is fading not just for nasdaq but morgan stanley, as well. leading the top two tech deals this week. kayak software, the price range of $22 to $25 a share could be lower. sources tell me, than where it prices tonight. we have palo alto networks, a hot name in the sector. it's already raised its price range, seeking a valuation over $2 billion. but overall, companies are looking to snap up more than $700 million in proceeds in the biggest week for ipos since april. but the market's still choosy according to citigroup's field dru ri. he says that while small growth cap ipos are working today, the market has to be tested for large, critical mass companies. that's not happened yet. looking at the performance of another ipo, shows the missed reception in the market right now. durata near the offer price and below the planned range for the deal. the questionable deal is fender musical instruments for roughly $150 million. are investors bullish on high priced guy tars? >> yeah. esp

kayla tausche on the report of citigroup. >> we are two hours off the call and they beat the street. revenue meeting estimates at $18.8 billion. investors were bracing. the bank cut costs of a year earlier and the cfo said head count reductions will continue. citi put away less for loan loss reserves and customers paying back the loans on time. the bank is investigated for the role for setting libor but management tried to hint that the same penalty of barclays won't befall every bank. now, the stock is coming off highs on overall bearishness on europe. qt is worse than q1. though the bank is able to take some market share in that place and citi is the third largest u.s. bank by assets and in the bad banks, a percent thanlg that consistently shrinks but the businesses left there are severely troubled. they say despite the difficulties of the businesses they're still aiming to wind down or sell at least all of them. >> all right. now tomorrow and goldman sachs among the financials that report this week. we heard about citi. >> goldman coming up. analysts forecasting a 39% drop in the

kayla tausche has more but first julia boorstin in los angeles with the look at the company's numbers later today. julia? >> reporter: there's huge attention on facebook's results, especially after zynga's big earnings miss. wall street projects revenue $1.146 billion and earnings of 12 cents per share but some other numbers may be equally important including facebook's advertising growth and whether it continues to slow. facebook says about a click through rates and pricing will also be key. what everyone wants to know is how facebook is handling mobile. how mu how many users access through mobile. and look for an update on active use earls. of course, tyler, analysts are very eager for guidance. does facebook expect to return to accelerating revenue growth? recent product launches won't have much of an impact this quarter, but facebook should explain what boost they'll provide down the line. back over to you. >> thank you very much. now checking in with kayla who's got some more on facebook's other issues. kayla? >> reporter: facebook faces three giant hurdles on today's earnings. t

kayla tausche joins us with more. >> they struck down regulation, a plaque at citigroup xh commemoratedan that destroyed glass-steagal. to say the statements were surprising is an understatement saying that the banks should be broken up and lawmakers are listening. >> i mean, this is significant statement on his part. i think what people are concerned about is the current policies that we have in place are almost created a consolidation in banking, making it very -- more difficult for smaller banks to stay in business. >> we will be looking at the issue as to see whether the effect of what we have done through the current dodd-frank bill made the system where you're doubling down on the size of the large banks. >> this idea of breaking them up has a lot of potential. i'm interested in it. and certainly we'll explore it with other members of congress. >> urged the travelers with citigroup for $70 billion in 1998. created a mega bank he called at the time, quote, unhell of a candy store. he's not only one changing the stance. phil purcell said to cnbc that shareholders should push for sli

. >> all right over to kayla tausche at the market flash desk with what's moving. >> scott, this is a stock that normally is on our radar, jpmorg jpmorgan. the stock down better than 2% on a note from deutsche bank downgrading the stock to a hold from a buy. matt a conner saying not only may eps estimates be out of reach for the bank but also he expresses some doubt about the bank's ability to actually buy back stocks before next year. and also says that the liability of things like libor, like continued risk in the cio and other risk models that might be out of whack will be further pressuring on the stock. and actually says previously weaker u.s. peers are in a better position to compete. if you're in financials and not buying jpmorgan what are you buying? >> wells fargo. new position for us last week because of the housing plan. we still think that there's room to go there. but we're not buying jpmorgan at $36, $37. you're buying jpmorgan at $33, $34 which is a much better value. i don't think there was a lot new in this note. other than obviously kind of the big picture concern. >

>> kayla tausche at the new york stock exchange.hank you. >>> and this kid should go for hurdling gold. the nigerian goat getting serious air on a farm in maine as you see there. not going to make a lot of friends, though, using his buddies as hurdles. just knocks them down. wow. >>> it's 7:18. you're up to date. back to matt, savannah and al. >> like you and meredith race walking. >> cleared the first goat, though. >> all right, natalie. thank you very much. mr. roker with a first check of the weather. >>> we've got severe weather to talk about in the southeast. let's show you what we've got. a risk of strong storms from mobi mobile, alabama, new orleans to wilmington and as far north as chattanooga. heavy rain already in the last several hours. we've picked up up to 3 to 5 inches of rain from birmingham down to panama city, florida. more rain falling now, severe thunderstorm watches in effect. you can look at those ranges training down. rainfall amounts over the next 24 hour, we're looking at another 3 to 5 inches locally, some ar

>>> all right, kayla tausche from the new york stock exchange. thank you. >>> and this kid should go for hurdling gold. the 5-week-old dwarf goat getting some serious air on a farm in maine. the nigerian dwarf goat getting some serious air on a farm in maine. as you see there, not going to make a lot of friends using his friends at hurdles. he knocks them down. let's turn it back to matt, savannah and al. >> natalie, thank you very much. mr. roker is here with the first check of the weather. >> we have severe weather to talk about in the southeast. a risk of strong storms from mobile, alabama, as far north as chattanooga. heavy rain already in the last several hours. we've picked up three to five inches of rain from birmingham down to panama city, florida. severe thunderstorm watches in effect. you can look at the rain just training down. rainfall amounts over the next 24 hours another three to five inches locally. flooding is a big problem right now throughout much >> 7:19 on a tuesday morning. we have a good looking day. it will be cooler than

kayla tausche reporting from idaho. >> the oracle speaking to becky quick this morning.ne on the economic but said there were signs of improvement. >> general economy of the united states has been more or less flat and so the growth has tempered down. the residential housing, we're seeing a pickup and it's noticeable. from a very low base and, you know, it doesn't amount to a whole lot yet, but it's getting better. >> jeff matthews is the author of a book on warren buffett. >> i don't think anything he said is anything that we don't already know. companies from cummins engine to tiffany has been reporting weaker business mainly the short fallout from europe and china. that wasn't totally unexpected. interesting to hear buffet say it because he has been talking about a recovery for a long time. >> also did talk about that recovery, he said, again, off a low base in housing. i'm curious as a berkshire hathaway shareholder do you take any comfort from that? they do, obviously have a lot of different connections into potentially what would be a rebound in housing. >> sure. i

. >> that was kayla tausche reporting.>> good morning, it's good to be. >> adam parker is a huge uber fan and andrew ross sorkin showed me the application, wait times are incredibly short, a cab in two to five minutes or a car service to pick you up. what made you come one this idea originally? >> i live in san francisco, and it's really hard to get a ride, so my co-founder and i just wanted to push a button and get a ride and wanted it to be a classy ride. >> from what i've heard when you say push a button it really means you push a button, it sends the car service, everything including your credit card information, so you don't even have to bother with any of that, you don't have to tell them where they're going, they show up immediately. how did you actually put all that information together, though? is this an easy task or is this something that took quite a bit of work? fr >> there's a decent amount of work and in every city there is an operational component in that city. we work with limo companies who then have driv

apple grabbing headlines on another big story, published reports, kayla tausche saying apple and twitter not in discussions. "new york times" had reported apple held negotiations with twitter in recent months. jack dorsey and tim cook meeting at allen and company, that was in sun valley earlier this month. the companies are remaining friendly and will continue to talk about working together. canada's enbridge planning to replace part of a leaky wisconsin pipeline today following a spill on friday. it has leaked more than 1,000 barrels of oil in a wisconsin field. the accident shut down a key pipeline from canada. becky? >> a lot of concerns about that. let's check the markets. as we showed you before it looks like the futures are essentially flat lining right now in the united states. everybody is waiting to see what both the ecb and our own fed plan to do this week. big policy meetings from both of them and that's going to be driving the markets. at the end of the week we get that huge jobs report number. this time around people are looking, economists are expecting a gain of 100,000, s

. >> okay, kayla tausch, thank you very much. >>> jpmorgan is -- we've got all this news, and we're goinge come back. between black and white answers... ...and 1,000 shades of grey duff & phelps finds the sweet spot that powers sound decisions. duff & phelps financial advisory and investment banking services. between listening to the numbers... ...and listening to your instinct. duff & phelps finds the sweet spot that powers sound decisions. duff & phelps financial advisory and investment banking services. >>> we're back with breaking news on jpmorgan. the big news right this moment is a new statement out from the company suggesting there may have been malfeasance at jpmorgan. this is going to raise questions about whether there's going to be a criminal investigation and whether what was known -- was known more broadly. >> apparently there is a number on jpmorgan's website for the second quarter, which is $1.21, which is would be well above expectations of 70 cents. and maybe one thing about moving some back to the first quarter to make the second quarter -- they obviously wouldn't do tha

. >> yesterday kayla tausche brought up a good point.n terms of compensation they handout in stock to employees they could take a charge for this in this quarter. would that come as a shock to the street? >> they have been highlighting that that was coming. i don't think that's going to be a dig -- >> she did say this was in the prospectus. seeing the headlines, seeing a big number, does that run through the mind of investors? >> it's not a big surprise. what people will be concerned about is a little bit about the june quarter. facebook probably won't give guidance. the real stinger is in how they guided for the september quarter. what you could see tonight is facebook posting some upside and some analysts could lower their numbers for september because of what they saw in zynga. >> very quickly, your price target, do you have one at it. the stock now is at 29.34. >> $42. seems hard to be optimistic. you can't bet against facebook longer term. 1.2 billion users. get into new ad units like mobile and e commerce. they will have this new w

kayla tausch is back at hq with a preview. you're not calling this a deluge. >> i'm not.arket is still picky. we'll get to that later. the ipo market is thawing. you can say that after being frozen for about a month due to heavy volatility. likely some was facebook fallout. this week five ipos in total are trying to buck that trend, though i have to say they are getting mixed reviews. take a look at small-cap biotech company durata, they'll start trading today. preteen retailer five below surging after pricing at the high end of its range last night. certainly a different story there. and fender guitars will test the water for higher end consumer goods when it prices tonight. but it seems though the money is still hot for tech. palo alto networks which makes firewalls for thousands of enterprise customers, this week raised its price range to $38 to $40 a share which values the company over $2 billion if it raises money at the midpoint of that price range. travel website kayak software could seek a higher valuation than it's stated now, and that's according to my sources.