similar to its competitors, morgan stanley's fixed income business held back the profit gains. the stock beat back the weak tone of the market to end with better than a 4% gain, and volume almost tripled. this is morgan's highest close since last may. cloud computing stocks came back to earth after computer network firm f-5 failed to impress the market with quarterly report. after more than doubling over the past year, the stock lost a fifth of its value, even though earnings surged 90%. a couple of corporate dealings: retailer dillards will form a real estate investment trust. shares jumped 12% to a 13-year high. and fast food company wendy's may sell its arby's brand, as it looks to jump-start international growth. shares popped 7%. and that's tonight's "market focus." >> tom: the world's biggest retailer plans to offer healthier food options. walmart wants to cut fat, salt and sugar in the food sold under its "great value" label. walmart also vowed to slash prices on fresh fruits and vegetables. the retailer's plan got a big endorsement from the first lady. michelle obama say

ski jumper severin for oil and has won his first ever world cup stage baby hops a very thomas morgan stanley and a second at the large hail event and supper a they twenty two year old was fifth off to the first jump but a second effort of a hundred and twenty nine meters allowed him to outperform everyone including world cup play the morgan stanley has been diminished to most of the stages this season the austrian settled for second this time around the other extended his overall and while poland's for multiple world champion adam wallace came third in japan. to swiss slopes web better weather conditions in the morning health early start to klaus cool to victory in the men's downhill the austrian edging d.d.'s shand carlyon claim to say. and then third respectively to secure the title slalom specialist it's a gusto it retains the overall world cup lead despite finishing eighth. staying in switzerland where pizza beer in and of finland won the men's health by the final two bands. who both came second with local rider u.t. bud light should go for completing the podium and american cali clark t

morgan stanley's not alone in taking this step. other banks are also closing their trading desks. >> tom: the biggest insider trading case in u.s. history is now a little bigger. federal regulators charged the co-founder of a new york hedge fund and three other people with insider trading. it's all part of the government's massive case involving the galleon group. court documents show google, polycom and hilton are among the stocks illegally traded by those charged today. there are now 27 defendants in the securities and exchange commission's case. >> tom: finally, it's said if you can make it there, you can make it anywhere. but that remains to be seen for wal-mart. we're talking about new york, so the discount retailer is beefing up efforts to open a store in new york city. the company is mailing ads to potential shoppers, claiming wal-mart can help the big apple save money and live better. its new york specific web site went live today. wal-mart says a poll of a thousand new yorkers found 71% support wal-mart coming to the city.

and morgan stanley has raised its forecast for russia's g.d.p. for two thousand and eleven the financial service company added another half a percent revising its forecast to five percent for this year analysts believe high oil prices will provide additional revenue for the russian budget which will increase budgetary expenditures starting in the second half of two thousand and eleven morgan stanley also raised its forecast for russia's g.d.p. in two thousand and twelve from four percent to four point five percent. and internet mexico second largest airline has signed a six hundred fifty million dollars deal to buy fifteen jet one hundred planes under the deal introject has the option to purchase five more planes for the liveries are to begin in late two thousand and twelve this is the first delivery contract for russia's new type of super jet airplanes to a latin american country so for international a joint venture between russia as to why a company and italy's aeronautical currently has one hundred seventy orders for its superjet. and that's a

at morgan stanley thank you for joining our program on. mr know what are the main death benefits from the deal for both companies and russia well for was their fleet gives them access to technology. deep water technology for the arctic and it also gives them the ability to go internationally in partnership with with b.p. for b.p. gives them access to a huge hydrocarbon province with potential resources equivalent to the north sea at a very competitive price and for russia i think it helps with furthering the objective of integration that the leadership has of russian oil companies into the international system. and it also perhaps signals the start of renewed. a period when foreign companies can again invest in the russian oil and gas sector now r t m k b p russia's shareholders said earlier today that they welcome the deal however there's reports that they would also may want to participate in a joint venture could it claim that all b.p. ventures in russia should be done. it could under the terms of the tiering k p p joint venture each pa

i worked for morgan stanley during the internet bubble. i ran a lot of complex transactions. i started a venture capital firm in 2000. as part of a venture-capital firm, as an investor, we created thousands of jobs in the bay area and the city of california. i think a lot of those companies have flourished and are now part of a strong economy and help strengthen the economy. in 2009, i left my firm to start an investment management firm, based in san francisco specifically, and look forward to investing in other venture- capital funds with the fund i have created. while i was doing that, i was appointed by the mayor in 2004 to the position of the retirement board. i served five years, from 2004 to 2009. i served as the president, the vice president, the chairman of the investment committee. i led the effort around the succession, planning for the executive director, and served as chair of the finance committee. so i was overseeing the budget process within the retirement board. i would also add that while i have lived here in san francisco i have become a lot more active in t

of morgan stanley until his retirement in 2009. hue is now the chairman of the board and on the advisory aboard of the chinese investment organization. i'm pleased to have him here back on this program to talk about this relationship, this business relationship, between china and the united states, because he is a frequent visitor to china and recently returned, so welcome. >> thank you, charlie. good to be here again. >> rose: were the american business leaders satisfied with the conversations that took place? and do they believe there's going to be a change? >> charlie, clearly, any time there can be a direct dialogue as a past c.e.o. or present c.e.o.s there, they found that helpful to discuss the issues. what the chinese want, i think, is a better understanding having the u.s. really understand what they're trying to do. i was there in december, and i'm going to be there in two weeks, and i had a discussion with one of the vice premieres, and he talked about our congressmen and senators coming to visit them and talking you shou

morgan stanley needs to pay the government back because it doesn't like knowing the u.s. government money. it decides to issue shares to the public. then on a sunday so people would notice the largest buyer is the government of china. a chinese investment corporation give morgan stanley $5 million. >> the point of that is that what can be seen as a trade deficit and a current account and a train of capital from one direction to the other can just as well be seen and because everything i just said, those actual numbers, there are actual numbers, and it's more like $4 billion but it's about right, all that is true. i didn't make any of that. that is a mighty a system of capital in motion. so what can be seen as this negative waiting between space can just as will be seen as a system that is involved. the problem is our ability to measure that system in terms of the data that we have in terms of our framework is limited. we still all conceive of things in terms of the nation state and our economy and their nations and their a color. the chinese do the same thing. this is not

before the bell today we'll find out what effect morgan stanley's report has on today's trade. keep an eye on google's earnings after the bell. ahead of its earnings report next week, american express warned its fourth-quarter profit will miss estimates. while at the same time announcing it will slash 550 jobs. housing starts fell to their lowest level in a year, sending dr horton and henard down 3%. american airline parent amr says it lost less money than last quarter but shares still sank 7%. this morning's "wall street journal" reports the nation's number three fast food chain is planning to sell arby's in order to beef up its expansion of its wendy's chain. keep an eye on ebay after the bell yesterday, the on-line auction site reported healthy holiday sales. and finally, pricey homes may be a tough sell here. but across the pond, a new complex in london is already 60% sold. the ultralux units with priceless city views are going for as much as $150 million. a girl can dream. >>> coming up -- dallas tags the champs, orlando relies on overtime magic, and the nba mega trade fiz

it's going to drag a cold front through the pacific morgan stanley.here's already a lot of clouds out there. want a lot of rain in oregon, but up in washington state we do have this area of rain. we're still very much dominated by high pressure, and as long as this high sits here, we're going to continue what has just been a fantastic trend of weather all through southern california and arizona. it's just been very mild lately and very enjoyable. now, to the northwest, i mentioned some of that light rain. it's very light. there's not a lot of it either from olympia northward. you know, continue on and off as we go throughout our morning. begin to taper off once the front goes through this afternoon. by tonight it will be all said and done. temperatures, they're not all that cold. we're in the 46 degree range many seattle. from phoenix to l.a., probably need a jacket as you head out the door, but you'll be carrying that home with sunshine and temperatures at 77 in l.a. today. 60 in san francisco. not bad. vegas in the low 60s. we'll call it 50 degrees

. >>> back on the street, morgan stanley shares shot up after healthy fourth quarter earnings reportsnk of america shares are lower after missing earnings estimates before the bell, and ge, the current owner of this network, also reported this morning. they reported better than expected fourth quarter earnings and revenue. finally, it's friday, and we've already got happy hour on the brain. with an invention that gives new meaning to the term bottoms up. the patent beer tap fills special cups from the bottom up getting rid of the foam at the top and filling glasses quicker. >>> the dallas stars skate into the record books, and a dead spot down under. mrushgs one reverse layup isn't enough for chicago's eric rose. your early morning sports headlines are straight ahead. >>> the weekend forecast features bitterly cold air in the middle of the country and nice warm air in the west coast. your friday forecast is coming up. you're watching "early today." >>> good morning. if you are just waking up, this is "early today." in sports chicago's derek rose had plenty of tricks up his sleeve last

weak storm come through the morgan stanley. just showers today. have that umbrella with you.howers, want in the forecastçt least for friday for central california. we're dry through the desert areas all the way from arizona bank into the beautiful southern california. on saturday more of the same thing. still some shower activity there m northwest. clouds should be increasing on the coastal areas of california during the day, and a little bit of temperatures take a hit behind that cold front. temperatures only in the 60s on saturday, so that's a look for a little bit cooler weather. >>> well, as far as your -- well, here's what's happening -- kenv nez muse 10 elko, nevada. cowboys at the northeastern mav nav museum. that's your pacific event of the day. that guy looks cold. >> yeah, like all of us. >> rough being a cowboy. >> all right, bill. thanks so much. here's an early look at the headlines and entertainment. when it comes to playing spooky roles, anthony hopkins has a strong resume. this weekend, he is expected to take the number one spot at the box office playing the

morgan stanley cutts rate over worries of the high food prices. we're going to take a look at one-year chart of super value. the trend obviously beginning back in the springtime has been moving lower for super value. and other grocery stocks seeing some selling. the fresh market came public last year. it dropped more than 5%. and safeway fell almost 4%. and whole foods fell more than 3%. the telecommunications put in the best sector, led by metro p.c.s. shares added another 6.5%, four times its usual volume on this nice volume from $5.50. and optimism is building that the fourth quarter ended with a bang for metro p.c.s. b.p. shares were heating up. it is a six month high in b.p. we've got to go back to $60 and change before the gulf oil disaster really fell off the cliff. the daily mail in the u.k. reports that royal/dutch shell may be interested in a merger. and drug-maker zoma, big pop in price and volume. 37% move higher. partnering with a french company for antii antiinflammatory medicine. look at that, back in the middle of last month, and t

citibank, goldman sachs, morgan stanley and bank of america are all due out this week and big profitsare expected. >>> also, wikileaks may soon release a new batch of secrets. today, a whistle-blower hands over reports of offshore banking accounts, some of them belonging to americans. the former bank executive says he has records of massive sums hidden away to avoid taxes or to launder money. >>> tokyo's nikkei average rose slightly today. hong kong's hang seng fell 126 points. in london the ftse opened lower. u.s. markets are closed today to observe the martin luther king jr. holiday. >>> well, starbucks is supersizing. the coffee chain is rolling out a new larger drink size. the 31-ounce trenta. the new size will be available for ice drinks only and will be available everywhere come may. >> you'll stay up for weeks. >>> a super weekend at the movies. "the green hornet" starring the comedian seth rogen got the most buzz in ticket sales. "dilemma" starring vince vaughn and kevin james opened in second. while "true grit" is still hanging on. they took the number three spot. >>> and mov

susie: here's what we're watching for tomorrow: quarterly results for a.m.d., ford, google and morgan stanley. and, we'll talk food and rising prices with david delorenzo, president and c.e.o. of dole food. also tomorrow, one of the world's iconic skyscrapers goes green one window at a time. "planet forward" looks at the empire state building's new energy efficiency. u.s. gasoline prices have reached their highest levels in more than two years. the national average for a gallon of regular unleaded is now $3.10. according to a.a.a., that's 37 cents higher than this time last year. average pump prices in major cities range from $2.91 in denver to $3.38 in san francisco. drivers here in new york pay about $3.19 a gallon. some analysts think gas prices in some cities will top $4 by this spring. >> tom: nokia has hung up on plans to release a new smartphone on at&t's u.s. network. the firms reportedly planned to launch the x7 phone in the next month. but according to the "wall street journal," nokia had a change of heart because of a lack of support from at&t on subsidies for the phone. in the u.s

ski jumping now where tom morgan stanley continued his remarkable run of results with a seventh world cup win of the season the austrian storming to victory at the ski flying event in the czech republic mortgaged and schooled a combined total of four hundred fourteen and a half points from these two jumps to finish ahead of swiss star simone among local favorites among came in third securing his first career podium finish. and instead boarding canadian sebastiaan to tonawanda you of olution vitals and doubles to tell the big fellow north americans mark more more. every three years to the top of the podium to play with fifteen thousand used on the prize body was the last of the well american jamie anderson won the women's event that close battle with the czech republic's. with any of finland coming third. and in the continental hockey league bars have regained the top spot in the overall standings following a solid performance on sunday lead to time k h l champions beating three two on home ice because one club move up to the top of the table pushing lookalikes you've back into second

a bit of speed jumping now where tamasha morgan stanley continued his remarkable ronald results moving seventh world cup win of the season the australian storming to victory at the ski flying event in the czech republic mortgaged school with a combined total of four hundred and fourteen and a haul for installing these two jumps the finish swiss stasi among. local favorites along came in third securing this area. and snowboarding canadians to boston to the o'neil evolution finals in. peeping fellow north americans mark morris and harry reid to be able to swing the fifteen thousand troops to the prize money was the last of the event while american jamie anderson won the women's event after it most battled with the czech republic's. any . means. and do the continental hockey league final bars have regained top spawn in the overall standings following a solid performance on sunday the two time champion speeding three two on home ice moved up to the top of the table pushing like a mighty of back to second elsewhere on guard needed time to defeat the bottom is. a little. claimed a three won

at morgan stanley who explained who the main beneficiaries of the deal will be each partner has to offer the other the opportunity to participate in a free. piece of business. in russia. but i think. the russian partners of b.p. in to carry b.p. will be happy to c.p.p. shoulder the expense of course the risk of exploration and i think the sea will roll is only if they make a significant discovery so do you see anything threatening the deal no i don't know with the support of mr putin mr search and i think that the deal will continue down the road an attempt. to participate in the event of success introject mexico second largest airline has signed a six hundred fifty million dollars deal to buy fifteen sukhoi superjet one hundred planes under the deal introject has the option to purchase five more planes first deliveries are to begin in late two thousand and twelve this is the first delivery contract for russia's new type of super jet airplane airplanes to a latin american country so why international a joint venture between russia and. and italy's alenia aeronautical currently has one hu

that offset strong profits at morgan stanley and better than expected reports on home sales. the dow was down 2, nasdaq down 21. another fast food group is planning to ditch one of its brands. wendy's wants to find a buyer for its arby's chain. the roast beef sandwich chain accounts for 30% of wendy's revenue but it's struggling. earlier this week yum brands says it's keeping pizza hut and others but selling long john silvers and a&w. for more go to cbsmoneywatch.com. in no, i'm alexis christoforous. >>> progress on keeping the 49ers at candlestick park for at least four more years. the parks commission has approved a tentative five-year lease. the 49ers can opt out of a final year if a proposed stadium in santa clara is ready. it would also give the 49ers millions of dollars in rent credit to fix up the stadium. the board of supervisors still has to sign off. >>> the payroll for players salaries on the giants will be about $115 million this year. that's the club's highest ever. nearly every player from last year's world series championship team is returning. the only players

seventy five eighty dollar a barrel range a couple months ago you had goldman sachs followed by morgan stanley you know predicting one hundred dollars a barrel so that sent a clear signal to all the traders out there that this was the new target to shoot at we've seen that time and time again where where internal analysts. release a target price and you mediately see the markets gravitate towards that target price and so it's kind of a self-fulfilling prophecy that that these speculators are doing granted i'm not saying that oil should be a forty dollars a barrel or anything like that there are supply demand fundamentals that dictate higher prices but but ninety ninety seven one hundred dollars a barrel i don't see that as being reflected in the supply demand fundamentals this is a speculative driven bubble right now and i think that that's dangerous not only to the economy but but to continued volatility in these markets which is really killing the business sector all right at this point here i'm going to jump in i'm going to jump in and angus will go to you when we get after the break and af

at morgan stanley who explained who the main beneficiaries of the deal will be each partner has to offer the other the opportunity to participate in a free in a free or a piece of business or involved in in russia. but i think. that's the russian partners of b.p. into k p p will be happy to c.p.p. shoulder the expense and cost risk of exploration and i think this issue will roll is only if they make a significant discovery so do you see anything threatening the deal no i don't not with the support of mr putin mr searchin i think that the deal will continue but down the road there may be an attempt. to participate in the event of success. and let's have a look at the markets now u.s. markets are closed for a public holiday and european markets closed mixed shares of oil giant b.p. climbed after it struck an exploration agreement with russia's ross now b.p. shares shot up two point four percent at the start and then retreated to stab a quarter percent higher at closing. and the russian stock market opened the week with its highest postings on the r.t.s. and my sex since the summer of two t