mark hurd, the company's ceo, is just beginning his prepared comments. he does say that through the third quarter business did continue to stabilize. you mentioned that eps and revenue beat, but let's talk about a couple key factors here, because these are significant. in enterprise, storage and servers, the company reported $3.7 billion. that's about $300 million more in revenue than what the street was anticipating and a pretty good indicator now that some of its key enterprise customers are opening up the checkbook, at least through the third quarter. another thing to keep in mind here, that the services business reported $8.5 billion in revenue versus the $8.4 billion that we saw in personal systems group. that's the home of hp's personal computer division. this is the second quarter in a row now where services have eclipsed what has historically always been hp's bread and butter in computers, and this is the one-year anniversary of the eds deal closing. so we are seeing the fruits of that now really beginning to materialize for this company. mark hu

mark hurd, chairman and ceo of hewlett-packard yesterday telling me late in the day that it was china really that lifted all boats for the company and helped the company beat on the earnings and the revenue line, saying that the strength in china really lifted all of the asian operations. >> interesting if whether what we're seeing in china is telling us something about perhaps what's in store for this market. the chinese market rebounded before we did, and it apparently has topped out before we did. so some people are looking to that as a sign of where we could head here. >> certainly from the look of commodities today you definitely see that demand. you've got inventories lower. that's one of the boosts behind the move in oil today. oil up right now better than $3 a barrel, back above $72 a barrel. check out where we are right now. the dow jones industrial average reversing an early decline at the open, actually, now all the way up

ceo mark hurd says business is stabilizing. >>> a judge reversed the options back-dating the convictioneyes. reyes is facing a 21-month prison sentence. >>> sony is cutting the price on the game koens yoel to $291 and introducing a slimmer version next month. that's cnbc.com news now. i'm julia boorstin. "fast money" with melissa lee starts now. >>> is a bull market back on or was today's turn-around just a head fake? "fast money" traders say don't be fooled, protect your profits. tonight we'll show you how. live from the nasdaq market site, i'm melissa lee and these are your "fast money" players. tonight, the one tech story no one knows about but everyone should. also, why the shanghai stock index may matter more to your money than the dow. and steve grasso, the governator gives the one gross story that even a recession cannot kill. first, the "word on the street" now. pete, we had a chat on the "halftime report." how was your day since then. >> i think the day panned out about how we hoped it would be, some kind of rebound. we got a nice rebound, and the options, mark haines, everybod

as you heard from maria bartiromo at the top of the show-n her conversation with hp's ceo mark hurd, china played a major role in their earnings, and we do see that playing out here at the nasdaq as well. also hp yesterday in their earnings report mentioned the fact that essentially they see tech spending bottoming out here. that could be a positive, or it could mean stagnant growth ahead. you do see the likes of dell up about half a percent here right now. cisco, meantime, big tech trade to the up side by 1.6%. google, a happy birthday to google. it's five years old as a public company today. not such a happy day for them, though, as their first day at this market site, they're down .7% on the day they were born as a public company they were up 18% in that one day and they were about 100 bucks back then. netflix shares to the up side by 3% today, getting an upgrade at kaufman. they think the dvd business has some signs of strength. and also the digital business will be strong going ahead. here's an interesting one, folks. cell therapeutics. it is the most active stock getting traded

tell you, we saw the positive gdp numbers out of france and germany but yesterday when i spoke with mark hurd, chairman and ceo of hewlett-packard, he said to me europe is still blah, his word, not mine. i'm wondering if we should be reading too much into the gdp positive numbers in france and germany. >> well, i think the results for europe were very mixed. and when you look around the world, you see there's been enormous fiscal stimulus and monetary stimulus. so the places you need to look are where the stimulus has taken place but then that has provided a launching pad for the private sector. >> right. so -- i'm sorry. go ahead. >> i was going to say in the case of here you have a cash for clunkers program, you have incentives to work on your house, things like that. so i think that that has provide aid good bit of the growth that we've seen so far in those cases. >> so hayes, what about that? compare with us -- for us, rather, the recovery in europe versus asia. >> sure. well, the u.s. has a more flexible structure per job, so we've been able to cut costs. that's where all of the q2 surpr