mel karmazin will step down in february. liberty media has been pushing to take control of the satellite radio provider. four of the five most actively traded exchange traded products were down by at least 1%. the lone gainer was the s&p 500 volatility note, which usually moves in opposite direction that the broad market. and that's tonight's "market focus."

again, mel karmazin, sirius radio ceo and chairman is stepping down, mel karmazin.iz: a lot of this has to do with the huge battle with john many loan of liberty media, david -- malone of liberty media. he has been very voc at saying mel karmazin wasn't on the ball when it came to next generation technology, and the two have really been battling it out so, obviously -- david: well, john many loan is known as a deal maker. he's stepping in more in the management role, we'll see whether he takes even a larger role. he usually likes to step back, but in this case he's gone whole hog in. liz: i just want to look at the stock right now. the stock is pretty much just slightly lower than where it closed today, but this is a $2 stock when it comes to sirius xm. it's been a real problem even considering they've got a lock on satellite radio. not too much companies are in this business. for a deeper look into netflix, let's go to nicole on the floor of the new york stock exchange. >> reporter: it really is suffering near the after market. when you take a look at netflix, ever

mel karmazin will step down in february.erty media has been pushing to take control of the satellite radio provider. four of the five most actively traded exchange traded products were down by at least 1%. the lone gainer was the s&p 500 volatility note, which usually moves in opposite direction that the broad market. and that's tonight's "market focus." >> susie: whirlpool is riding the tide of higher prices in north america. the company reported third quarter earnings today that beat analyst estimates by 20 cents and far exceeded what it made in the same quarter a year ago. the company also lifted guidance for the full year based on improved sales of appliances to building contractors. whirlpool is benefiting from the recovery in the housing market as americans are taking on more home improvement projects. diane eastabrook takes a look at how that pick-up in housing is spreading to other parts of the economy as well >> reporter: it looks like home sales are finally out of the dog house. with mortgage rates at historic lows

reports say sirius xm radio ceo mel karmazin is stepping down next year.roubled social game company zynga is cutting 100 jobs. dow chemical is cutting 2,400 jobs. and investors may still be reeling from stocks getting slammed yesterday. the dow sold off 243 points with dissapointing earnings news from dupont weighing down the blue chips, and the nasdaq slipped below 3,000 for the first time since early august, while oil continues to slide. tim mulholland of china-america capital joins us this morning. tim, what's behind the big drop in the market? > > i think there's concerns of global economic growth, and namely earnings have been disappointing, especially in the top-line growth side. there's been about 140 companies that have reported so far in the s&p 500. about 60% of them missed on revenue. so that adds concern on the earnings front as well as in the global economic growth front. > > and is that what is troubling oil as well, with that slide? > > that contributes too. materials were weak, the weakest part of the market sell- off, as well as the energy

i like mel karmazin.t like the way they just casually threw him under the m-106 which is a bus. i like the stock but i think it's capped. >> carol in new hampshire. >> hi, jim cramer. boo-yah. >> boo-yah. >> chicago bridge and iron? >> i think this is going to be a strong quarter. you know what? buy, buy, buy. i need to do more work. but it's got one nasty chart. let's go to ellie in california. >> hi, jim. boo-yah! >> boo-yah, ellie. >> i have a question about mlnx. >> we walked away it from. we had a really big gain. we didn't like the changes up top. there is a lot of other plays. we declared ourselves victorious and we moved on. i need to go to ken in california. ken? ken? yo-yo? ken may be no show. like molly no show in the movie "the gauntlet." let's go to charlotte in florida. charlotte? >> jim, the transaction between eaton and cooper industries? good or bad? >> that closes october 26th. that's when i believe immediately eaton will lift. that is a stock is a buy, buy, buy. justin in south carolina

late today, sirius x/m satellite radio chief mel karmazin said he'll step down february 1 when his employmentontract expires. tomorrow, federal reserve policymakers wrap up a two-day meeting. economist diane swonk joins us to discuss the outcome. for more financial news, tune in to nbr weeknights on this public television stat

only a matter of time but now it is official, mel karmazin is out at sirius xm.he built getting taken over by the billionaire here turned to for a rescue. this deal may be his best ever. in early '09 he had loaned money to sirius when nobody else would. sirius paid him back in full, yet malone got as a loan fee 40% stake in sirius for $12,500. jahn malone owes him big time. he sold 90 million shares along the way breathing a staggering profit of $170 million for building the company from 700,000 all the way up to 23 million in the time he ran it. cheryl: coming up now with $2 trillion under asset management, pimco has become one of the most important voices for investors. i had a chance to sit down chief operating officer douglas hodge and asked how does wall street bounce wall street regulation and aren't profits more important? here is how he responded. >> i'm not sure i would agree with that thesis. if we are serving client needs, then the we grow the size of the pie. the role the financial services industry is to serve as an intermediary. move risk capital to