morgan stanley on the upside. but from fireworks, we go to the deafening sound of a very quietly tentative market. the s&p has just turned positive. that's not a bad thing as we bring in our traders from the new york stock exchange cme group and the nymex. we have consumer sentiment coming out in january at one year lows. is that what's tamping down what could be a slightly better market? >> well, it's part of the reason. it's something we have seen for the last year. you get a mixed bag of economic data, some good, some bad. i think what's really happening right now is just complacency in the marketplace. if you look at the vix, the volatility has been taken out of this market, traded in 20 handle range on the s&p all week long and we're just here, an expiration day, even the volumes are up. we are not getting a lot of action in here. liz: at 1481 for the s&p, now one point above the 1480 level, obviously. captain obvious here. i look at this and say wait a minute that's not a bad level to look at certainly, why

more now on morgan stanley's report. head of u.s. banks and broker research at jmp securities. david, what were the highlights for you in either the morgan report or what mr. gorman said on "squawk box"? >> well, you know, when you're not expecting much profitability, and then they beat you by a little bit, it can push the eps up well above your numbers. they beat us by about 7% in the top line. so you know, that got our attention a little bit. most of it was investment banking. which we saw from the peer reports earlier. trading is still kind of sluggish, and gwm did a little bit better. i do like that margin increase that they had with the new, you know, with the jv. so i think those were the highlights. >> i think the greatest thing that could happen to this company, and to anyone involved in the stock market is, is maybe a new bull market where we get to some new ties, david. how much of what morgan stanley does from here, are they controlling themselves? is it in their own hands? and how much are they just subject t

morgan stanley and jpmorgan fall ahead of next woke's earnings. should you be concerned? dan nathan will have the answers. and well liked, facebook shares have surged 17% in 2013, and do you see more upside? scott nations gets social. the action begins right now. >>> from the heart of new york times square, i'm melissa lee, these are the traders. and the rally is showing signs of fatigue with the financials ahead of the earnings. with the vix at five-year lows and stocks at five-year highs, is this the calm before the storm? we will get into the money and find out. dan, the question is here as we do look at the five-year highs, do we look like we are setting up for a fall? >> we could. here is the thing that we got through some events that had not a whole heck of a lot to do with the corporate earnings and that is one of the big factors to drive the stock prices, and we had a great rally out of the gates. the s&p is up, and the vix is melting, and when we look at the future curve, it is bid up, and when you look at march, it is 17.5 or so, so it is implying we will get th

>> not just morgan stanley, but puts are in the whole space. >> there you go.hat. i like taking a defined risk in the earnings. >> and i have expressed skepticism on the market, and so i like that trade adds well. >> looks like the time has expired, check for the optionsactions@cnbc.com, and in the meantime, don't go anywhere. "money in motion" is coming up next. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪

>> not just morgan stanley, but puts are in the whole space. >> there you go. that. i like taking a defined risk in the earnings. >> and i have expressed skepticism on the market, and so i like that trade adds well. >> looks like the time has expired, check for the optionsactions@cnbc.com, and in the meantime, don't go anywhere. "money in motion" is coming up next. ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ i don't have to leave my desk and get up and go to the post office anymore. [ male announcer ] with stamps.com you can print real u.s. postage for all your letters and packages. i have exactly the amount of postage i need, the instant i need it. can you print only stamps? no... first class. priority mail. certified. international. and the mail man picks it up. i don't leave the shop anymore. [ male announcer ] get a 4 week trial plus $100 in e

but look at morgan stanley. up almost 8% and of course it was all because of charlie's terrific interview with jim gorman, about which we're going to hear more in this hour. nicole: it was a terrific interview. the truth is they are hitting some new highs. a lot of folks i talk still believe financials will be great in 2013. some of them are really doing well. liz: it's a great day at least for some of the handful of companies that are out there today. [closing bell ringing] liz: a carpet company, interface, we just had the ceo on in the last hour, they make the square -- do you see how they're holding up the pieces of square? that's carpet. david: if you have seen it on the news chances are you have seen it here even before it happens on the news. the bells are ringing. let's take a look at the indices. only one index is in the negative, that would be the nasdaq. apple not managing to find ground again today being pulled down. we thought maybe it had reversed that downward trend yesterday. not so today. all the

i know you're talking about jpm and morgan stanley likes both of those but the weekly options in morgan, these are the options that are something or nothing. >> when we come back, lululemon's stocks drops. we're going to debate it next up on "halftime." ♪ ♪ [ male announcer ] don't just reject convention. drown it out. introducing the all-new 2013 lexus ls f sport. an entirely new pursuit. tdd#: 1-800-345-2550 after that, it's on to germany. tdd#: 1-800-345-2550 then tonight, i'm trading 9500 miles away in japan. tdd#: 1-800-345-2550 with the new global account from schwab, tdd#: 1-800-345-2550 i hunt down opportunities around the world tdd#: 1-800-345-2550 as if i'm right there. tdd#: 1-800-345-2550 and i'm in total control because i can trade tdd#: 1-800-345-2550 directly online in 12 markets in their local currencies. tdd#: 1-800-345-2550 i use their global research to get an edge. tdd#: 1-800-345-2550 their equity ratings show me how schwab tdd#: 1-800-345-2550 rates specific foreign stocks tdd#: 1-800-345-2550 based on things like fundamentals, momentum and risk. tdd#: 1-800-345-25

morgan stanley putting my money where my mouth is, judge.g those january calls that expire friday. >> doc, this is why options action works right? this is why options are a good strategy if you know what you're doing. >> yes. the top of the show you asked me why do you not own stock? i don't own stock because i would have had to basically buy a $22 -- a $20 stock. instead i bought a 32 cent option. it went to over $2 today as jp morgan or as morgan stanley rather ran from 2040 where it was on tuesday all the way through 2240 or whatever the high is on the day on this one. i liked what the ceo had to say. he said their risk weighted asset exposure has gone down. he talked about expenses. joe and i were just talking about cap x over at intel. as far as what morgan stanley is spending that is dropping by $1.6 billion through consolidation and all the rest and getting rid of both employees and some facilities over i think now through 2014 so all of that means this stock has more upside and should pierce through the july of 2011 highs not too lon

news on morgan stanley; right? nicole: right, let's take a look at morgan stanley. they are cutting 6% of their workforce. charlie gasparino was the first to report this, but they are going to do some job cuts. we're talking about 1600 jobs within institutional securities. more of the senior employees are probably the ones who will be looked at very closely. half in the u.s. half overseas. down 1/10 of 1%, $19.63 a share. the stock up and down today, but right now down 2 pennies. dagen: u.s. officials are pointing the finger at iran for a recent series of cyberattacks on our on-line banking website. connell: adam shapiro in the newsroom with more on that. adam? adam: this is an on going story that the fox business website first broke back in the fall. the cyberattacks against u.s. financial institutions just about all the banks in the united states being targeted originally it was a group that was taking credit, as we reported last fall. and then in october, adam samson on our web team actually wrote a story in which he detailed how the attacks were taking place. th

morgan stanley, again, those results, it looks like morgan's going to open at a new 52-week high, afterun. this could help the spire financial sector in today's session. the leader in this most recent run-up. >> i think it adds credibility. there's a very nice comment this morning about goldman sachs. i think goldman is a rise in time. i think m & a is going to be the big tailwind for 2013. >> you know, people are perhaps a bit shell shocked from previous years. the rest of the year was in the doldrums. maybe they're underestimating. i am hearing there's a lot of activity. but a lot of activity doesn't always result in deals, as we well know. but there is a lot of activity. >> and signs of life if the ipo market. there's a couple that we'll be watching. [ bell ringing ] >> very interesting thing happened. this is very much like the old days in a bull market. at $19, priced above the range, it is a bit of a premium for carnival. they're saying, listen, i don't want the norwegian that's raising all the ships, and i think it's rather amazing. >> lifting all the boats, literally. >> well pu

we have morgan stanley because it's cheaper. at 1.2 to 1.4 times the book value. it should be a pretty reasonable to good quarter. more importantly, we think morgan is on the right track and expect better things as the year progresses rather than expecting anything great for this fourth quarter. >> you're pretty bullish morgan stanley already, david, but in terms of the xachange in compensation, is there an incentive of the shareholders, that maybe the bankers would be apt to take less risks if they're owed money down the road? >> if you look at the last few years, the employees have done particularly well, or pretty well in terms of compensation and the shareholders have not. we think that anything aligns to the employees to the shareholders is a good thing. unless a lot of other firms do the same thing. it could be problematic for morgan stanley but we do think it's a move in the right direction. >> bank of america, merrill lynch had a survey out yesterday. what if investors are overweight banks for the first time in six years

great numbers from morgan stanley.is a winner though the banking index still remains to the downside but morgan stanley is a clear winner. back to you. tracy: sure is. good way to end the week. nicole, see you in 15 minutes. ashley: keep it right here on fox business. charlie gasparino sitting down with morgan stanley ceo james gorman. that is next hour on "countdown to the closing bell". do not miss that. tracy: no, no, no. all right. china says its economy surged last quarter. one expert isn't buying it. i'm not only skeptical sicilian here. he will tell us why. ashley: don't believe a word they tell you. first how is the dollar moving right now with the dow kind of drifting along? as you can see all of the currencies down again the dollar. the dollar is up across the board. we'll be right back? [ woman ] if you have the audacity to believe your financial advisor should focus on your long-term goals, not their short-term agenda. [ woman ] if you have the nerve to believe that cookie cutters should be for cookies, not

equity strategist at morgan stanley. so adam why so gloomy so, many strategists are much more positive than you are. what is your thinking? >> well, look, we have a more cautious earnings outlook than i think some of our peers. the macroeconomy is not that strong right now. and corporate earnings aren't growing that much. i think that is the root of our near-term caution. >> susie: on earnings also you're not so upbeat. are you looking for them to be flat-to-down 1%, again conscientious. up 11 percent. the distect-- disconnect? >> look, i'm pretty certain the conscientious estimates are too high this he have been too shy for a year now. we saw the worst quarter in the third quarter this cycle on the revenue side. and i think that will continue. i think the question isn't are the consensus earnings too high t is will the stock market care. because the last year the s&p total returns basically

debt and using morgan stanley to help find buyers of those corporate bonds. elsewhere in finance, american express fell 1.6%. fourth quarter earnings were only about half of what they were a year ago. credit card company capital one was down 7.5% as earnings and revenues came up short of wall street estimates. intel also saw a swift reactioni to its earnings last night. profits were down as the company continues seeing fewer sales of semiconductors for traditional computers. shares fell hard, down 6.3%. among the concerns, stepped up spending by intel and the pressure than could put on short term earnings. four of the five most actively traded exchange traded products were higher. the volatility note fell more than 6% with the broad market continuing to trade in a narrow range. and that's tonight's market focus. >> tom: the stock market may be hovering near five year highs but tonight's market monitor warns now is not the time to get real aggressive. jason pride is director of investment strategy at wealth management firm glenmede. jason, what makes you conce

we're looking at morgan stanley and bank of america.morgan stanley we know about the cuts they're doing. 1600 jobs. that is about 6% of the workforce. this will be in a variety of areas but institutional for the most part. you see here the stock is down 1% but really has been all over the map today from positive to negative territory. charlie gasparino certainly was on this but, as i noted in the investment banking unit predominantly but not only here in the u.s. but also abroad you will see those cuts coming. let's also talk about bank of america. today bank of america was cut at a couple of places t was downgraded to a neutral from outperform over at credit suisse. it has been under some pressure is the price target at credit suisse they said $12 from 11 but they put it at neutral from outperform just saying that the stock has risen too far too fast. if you look at a one-year chart obviously it was the best performer on the dow last year and has had quite a run over the last 52 weeks. tracy: thanks, nicole. i love how the banks rate e

debt and using morgan stanley to help find buyers of those corporate bonds. elsewhere in finance, american express fell 1.6%. fourth quarter earnings were only about half of what they were a year ago. credit card company capital one was down 7.5% as earnings and revenues came up short of wall street estimates. intel also saw a swift reaction to its earnings last night. profits were down as the company continues seeing fewer sales of semiconductors for traditional computers. shares fell hard, down 6.3%. among the concerns, stepped up spending by intel and the pressure than could put on short term earnings. four of the five most actively traded exchange traded products were higher. the volatility note fell more than 6% with the broad market continuing to trade in a narrow range. and that's tonight's market focus. >> tom: the stock market may be hovering near five year highs but tonight's market monitor warns now is not the time to get real aggressive. jason pride is director of investment strategy at wealth management firm glenmede. jason, what makes you concer

gorman did say on the call morgan stanley remains committed to it. simon, back to you. >> we should point out that% return is weak. pretty tepid. >> but better than what we have seen from the bank over theast couple of years, simon. >> thank you very much for that. one of the key take aways from the bank earning season now that most of the big guys have reported, neil wineburg is editor and chief, joining me here at the new york stock exchange. what did you say? >> it is a good news/bad news story. goldman sacks, morgan stanley did well. among the commercial banks, j.p. morgan did well but there is a lot of problems with mortgages and consumer related banking. that is obviously reflected in bank of america and city banks earnings which disappointed. >> do you think the bank stocks have done well? if we look at the laugh month, there's been a strong rotation, more aggressive rotation into the investment banks goldman sachs springs to mind. do you think that will continue in the first quarter should people swap out perhaps from the big consumer banks t

we look at morgan stanley, little bit of a different story with morgan stanley having to cut back and. iis morgan stanley going to fare as well as goldman sachs will? >> i cannot discuss morgan stanley, only jpmorgan. cheryl: switch between investment banking and consumer banking is where the line has blurred, if you will between jpmorgan and morgan stanley. other banks when it comes to jpmorgan big in the mortgage business. chase mortgage is one of the powerhouses on the revenue side. if there's a hiccup in the house and recovery, is that a problem for jpmorgan? >> sure. 10% of the revenue comes from mortgage banking. less than wells fargo. we think the housing market will continue to improve, and it should drive the jpmorgan chase in 2013. cheryl: we will see where this goes. good to have you here. dennis: we will have the latest on the dreamliners. and japan's two biggest air carriers have grounded their fleet. cheryl: chipotle says they're ready to cater your next event. coming up. stay with us. [ male announcer ] you are a business pro. omnipotent of opportunity. you know how to

on friday, we'll hear from morgan stanley.onsensus estimates have come down over the past months, the street now looking for 27 cents a share on 7 billion in revenue. while regional banks state street and sun trust will be reporting. the earnings bar set high. jpmorgan posting a blowout quarter, earning $7.5 billion in the quarter. though ceo jamie dimon took a hit on his bottom line. his bonus chopped in half because of the $6.2 billion loss on that infamous london whale trade, but, still, he did get a $10 billion bonus. goldman sachs also posting profits well above estimates. cost-cutting help there and revenue climbing on strong trading and investment banking and u.s. bank core banking revenue was up 60% from a year ago but fell from its previous quarter, the ceo saying he expects a slower 2013 versus this past year, usb. today it's down fractionally. maria. >> all right, bertha, thank you so much. joining us now on a cnbc exclusive for more, here is richard davis, the chairman and ceo of u.s. bank corp. thanks for joining

we'll talk to morgan stanley's david darst who will lay it out. >> a group of leading ceos is urgings to raise the eligibility age for social security and medicare to 70, and that has unleashed what is known as a wave of backlash. just picture that. but is there a better way? we'll look at that coming up. tdd#: 1-800-345-2550 when i'm trading, i'm so into it, tdd#: 1-800-345-2550 hours can go by before i realize tdd#: 1-800-345-2550 that i haven't even looked away from my screen. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 that kind of focus... tdd#: 1-800-345-2550 that's what i have when i trade. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 ...helps me keep an eye on what's really important to me. tdd#: 1-800-345-2550 it's packed with tools that help me work my strategies, tdd#: 1-800-345-2550 spot patterns and find opportunities more easily. tdd#: 1-800-345-2550 then, when i'm ready... act decisively. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-25

i want to kick it off with really what you're doing at morgan stanley.tioning in deleverage mode. tell us where you are in the process and what we could look forward to in terms of your continuing to deleverage and reposition morgan stanley. >> we felt last week was an important time to reflect on the changes that we made in the past, but more importantly the opportunities go forward. we called it deliberately a pivot moment. we felt for our employees, clients, investors to understand that we are confident as a management team about the direction we're now headed in. specifically the potential to buy the rest of smith barney and create one of the top three wealth managers in the world coming on the back of very strong earnings was an exciting possibility for us. we wanted to lay that out there. the hard decisions we have made over the last year and a half and will continue to make. reducing the amount of capital we have tied up in some of our trades businesses because improving those returns is a function of both generating higher earnings from the highe

morgan stanley analyst betsy grace says raise citi to overweight. jmp upgraded it to market perform. if you look at the kbw bank index it is up 30% in 2012 and continues its run into this year. other banks were getting their houses in order during that time, trimming expenses, bulking up capital bases and settling big figure lawsuits that had been overhangs on stocks like bank of america and jpmorgan. interest margins will still get squeezed. they're looking at citi where there appear to be some real catalysts but it also begs the question of whether some of these other calls will turn out to be just some monday morning quarterbacking. >> kayla, stick with us. doc, part of the problem is when you upgrade any bank these days it almost seems late because the stocks have had such big moves in 2012 and now they're continuing to build on what have already been sizable gains. >> exactly, scott. i'll point out also that although kayla's reporting is spot-on, and i like citi, the goldman call here, but i really like the one leon cooperman made with capital

no rust is catching on after lacking behind for the last decade but according to a report by morgan stanley currently the same will be the tipping point all set to change in the next three years as you can see e-commerce is set to grow thirty five percent by twenty fifth grade reaching four point five percent of retail sales in total russian shoppers are now far more eighty's with internet purchases almost half of all online shoppers made their sorry first purchase in the last two years the same one thousand five zero it is the ability to simply click buy while sipping a cup of tea in their pajamas they want to keep on clicking that boxen plus an internet search engine yandex is set to benefit from this growing trend as the morgan stanley survey shows that eighty seven percent of all like to see them as use this method to research their purchases yandex is expected to capitalize on this as advertising companies can pay to get their products on shoppers computer screens and here's the head of e-commerce that yonder gani malaya had to say about the potential for his company which he fills wil

russia is catching on after lacking behind for the last decade bought according to a report by morgan stanley twenty thirty mobley the tipping point or is set to change in the next three years as you can see e-commerce is set to go thirty five percent by twenty fifteen reaching four point five percent of retail sales in total . russian shoppers are now fall more at ease with internet purchases almost half of all of mine shoppers made their first first purchase in the last two years so it seems once upon a experiences the ability to simply lick by while sipping maybe a cup of tea in their pajamas they want to click keep all collecting the bus a russian internet search engine rionda eggs is set to benefit from this growing trend as morgan stanley survey shows that eighty seven percent of all my consumers use this method to research their purchases a year and is expected to capitalize on this as advertising companies compete to get their products on shoppers computer screens and here's what the head of e-commerce that yeah they get e-mail i have had to say about the potential for his company whi

average investor morgan stanley would make money from, the average investor is out of this market. >>l: i'm surprised for five or six trading days they were up and say what you will who is participating, that all these scare about these higher investment rates and taxes? >> that may come at some point but the market is reacting for the last i would say four years on basically on one standard, the federal reserve printing money. as long as the federal reserve prints money and keeps short term rates at zero, printing money going out doing their qe-2 3 and hshg, when they buy bonds it pushes down rates on the long end and short end. you want to buy a bond, ten-year bond yields almost nothing. so it forces investors into stocks. but while professional investors are going into stocks the average investor is still scared >> neil: thank you general wall street. [ laughter ] >> neil: thank you charlie. and is lance about to go full cycle? [ male announcer ] you like who you are... and you learned something along the way. this is the age of knowing what you're made of. so, why let erectile dys

. >> morgan stanley. buying those january calls that expire friday. >> murph. >> i think you can look at target here. also the homebuilders have been great with lennar's earnings. we bought more lennar today. >> joey. >> i like the move in deckers outo outoutdoors. >> weiss. >> doc must be buying at a very big position if he put his money where his mouth is. >> ooh, weiss, look at that. >> i'm shortening thee ining ye against the dollar. >> facebook. obviously waiting for the announcement in a matter of moments. we'lls to it to power lunch. what will they unveil. that begins now. >> we have, scott, actually two major breaking stories right now. facebook about to make the aforementioned major announcement. we're inside the headquarters. that's screen left for you. screen right, ahman javers on the president's gun control plan. >> a few moments ago james carney told those in the meeting room the president and vice president will hold their event tomorrow. carney saying that the president and the vice presid

morgan stanley's dig meal and he supports me in this argument i think it was an excellent thing to join i think it will support growth in russia i think russia got a good deal and now russia just needs to learn how to make the best of it if the officials don't know the rules then they should do a training program so that the ministers are advised by officials who know ministers don't have the expertise on everything but need to have officials that do so russia needs two bit of homework. well i thing in terms of homework that's always a positive thing is that if you read up on things i think we can all agree on that one but i want to go back to mr grech then what he was saying actually about globalization because it was also critical about the russian economy in terms of where this leaves the people here because he was saying globalization only lease to disparity between the rich and the poor and terms of competitiveness he was saying that russia is now only competitive in terms of their natural resource exports so that so that is a concern indeed right but you talk about it as if it's a

one of the biggest bears on wall street for morgan stanley. ind super high-definition tv. none other than the general, stanley mccrystal will join us live on cnbc. >> we'll get "six in sixty," six stocks in 60 seconds. >> a lot of guys worried about the oil service stocks. oil north going up. chesapeake, look at the troubles. huge driller. i say be careful. the group is undervalued longer term. >> credit suisse rating the target here. >> some people are negative on tech. this one is still working. >> morgan stanley. >> these guys have put up, there's a series of companies that are doing very well. this is actually a cell phone component doing well. >> itw. >> this is one of the many industrial companies that has had a beginning of the year that's superior. trying to trim everything, i think. >> more bad news for deck. >> i think isi's got the solution. perhaps it's a private equity. bf corp must do an acquisition. tom brady, super bowl? i don't know. >> good question. finally, goldman updates akr. >> these have been great. this one's now cheape

have to do is learn the rules and start playing that's really the argument and jacob neil from morgan stanley really agrees with that i think it was an excellent thing to join i think it will support growth in russia i think russia got a good deal and now russia just needs to learn how to make the best of it if the officials don't know the rules then they should do a training program so that the ministers are advised by officials who know ministers don't have the expertise and everything but i need to have officials that do so russia these two bit of homework. so bit of schooling a bit of homework that's never such a bad thing in any sector of word and analyzing government whatever your job is but mr graef also has some pretty harsh statements to make about globalization as well of russia's really position on that because he was saying that really the only thing ever brings is disparity between the rich and the part of its get rich or incredibly rich eisen say in the four don't really benefit tool he also said about russia's competitiveness and said that it's only really competitive now in th

the morgan stanley story that broke today is evidence of this, that they knew the stuff was no good. have to then dig into the contracts and find out what they were representing the stuff to be. there were people out there willing to buy crap. on the other hand there were others who were being misled. there's a lot of talk of dumb money, muppets they're good suckers. some of these entities, whether they're pension funds hedge funds--new jerseyly not hedge funds. they're in a sophisticated category, but others, insurance companies, are coming forward and saying they were clearly defrauded. >> cenk: right that's the critical part of it, right? when they dig in with their civil lawsuit they unearth more stuff as we found out today in the morgan stanley case. why didn't the government dig in? and let me pause at a theory for you and get your reaction to it. one, these guys give a tremendous amount of money to politicians. dick durban said frankly they own the place and he's the second more senior senator for the democrats in the senate. and they're all in the same circle. attorney genera

mary thompson's at headquarters with news on morgan stanley. >> that's right.. dan loeb saying he did initiate a position in morgan stanley in the fourth quarter. shares up over 4% on the news. the reason loeb likes it, he likes the positive impacts, he expects a restructuring on the stock. he says given it's trading at a 20% discount to tangible book, it is basically a free call option on a potential restructuring. however, he did note he is concerned about some of the directors at who are began stanley. he would like the investment bank to start the restructuring at the top, meaning the board of directors. that means possibly we could see him take action or take a position to get some of those directors out of their seats. we'll have on wait ato wait and. >> leob got involved in yahoo! and now hearing more from him. we pointed out many time's ubs's decision to move more focused in to wealth management. and the positive reaction it got from shareholders. one wonders whether that is similar pressure down the road for morgan stanley. still ahead, a smart watch g

somebody like a morgan stanley or us custody banks.s for the money market accounts. right now they're frankly having to forgo the fees. these banks will make a lot more money. >> finally american express is another cautionary tales we've already seen what morgan stanley has done. >>> that's a normal attrition where you're taking maybe not your best performers. so that's a normal rate. they'll continue doing that. we think the draconian cost-cutting head count reductions are behind us. >> you have a few names in your portfolio. one favorite? >> if i had to pick one name, it would be morgan stanley. people still do hate it. it's at 06% of book. people fought for 70 years to become a partner in morgan stanley so you would have the right to buy it at book, now you and i can buy it as a big discount and we think that's temporary. >> thank you. always good to talk to you. >>> a quick programming note. timothy sloan will be on "closing bell" today, 3:10 p.m. eastern time. >>> as you might have heard, facebook seeing a monumental climb, up mor

you know like lehman brothers was executed and probably morgan stanley will be the bank to get executed this year twenty thirteen basically trying to make themselves relevant before they are asked to drink the cyanide kill themselves yeah but i mean here they're saying. this perhaps why every single forecaster interviewed by barron's for their two thousand and thirteen predictions this is predicting a booming market and that's because they're saying the debt cancellation isn't for you the peasant it's actually bad for you the peasant because they're monetizing the debt which he's saying is that the u.s. japan and the u.k. are going to outright monetize their debt they're going to cancel the debts they created out of thin air and those predictions those long held predictions of hyper inflation may just finally come true in two thousand and thirteen well the fact that they've taken a longer means that the collapse will be that much greater. again everything is deflating against gold and silver. all right stacy ever thanks so much for being on the special new year's day is a report thank y

we covered this notion of the debt jubilee for example that occupy wall street has instituted morgan stanley presents seventeen big surprises that could rock markets and twenty thirteen they see debt cancellation the u.s. japan and u.k. announce that all debt resulting from their q.e. purchases is cancelled which would assuage the fears of rating agencies but anger bondholders. more than in or of these banks is going to be taken down shot you know like lehman brothers was executed and that probably morgan stanley will be the bank to get executed this year twenty thirteen obviously trying to make themselves relevant before they are asked to drink the cyanide kill themselves yeah but i mean here they're saying. this perhaps why every single forecaster interviewed by barron's for their two thousand and thirteen predictions this is predicting a booming market and that's because they're saying the debt cancellation isn't for you the peasant it's actually bad for you the peasant because they're monetizing the debt which he saying is that the u.s. japan and the u.k. are going to outright monetize t

how about morgan stanley, reported dynamite quarter.nd james gorman told a remarkable story about turn around, particularly in the wealth management business. the numbers were certainly there and the stock vaulted higher. was that just hope that the bad old days when morgan stanley was perceived to be on the ropes are now behind them? another case of no hope to hope? and then there's caterpillar. got the stock flying. but it's almost totally about hope. hope that the market will look through the coming weak numbers. the report said the numbers would be weak and said that would happen too. i don't know, i think that could be a tall order. however, though, i said out loud this morning on "squawk on the street" perhaps i'm not hopeful enough. i thought the whole second half story had to hold a belief, hope that things would get better. the stock scorched higher without me and i'm totally steam shovelled. finally there's intel. oh, my how much i like this company. i used to be an intel hawk going to new fabs. now i feel intel's turned into

morgan stanley lowering its 2013 forecast for both metals. that is what drew them down. sandra: while everybody was focused on those metals as well as technology today the financial sector really was the outperformer. two financial etfs hitting brand new 52-week highs. the uyg, whose top holdings include berkshire hathaway as well as jpmorgan and the kbe, whose top holds include comerica and huntington, big gainers there, david. david: all right. we are awaiting news from microsoft and starbucks. very important earnings news that could affect the value of those stocks. as soon as they come out we'll bring them to you live. we're also continuing to focus on apple, looking really rotten today after yesterday's disappointing report. now the analysts are reacting. some are cutting price targets by 40% but where were these guys yesterday? how does the biggest stock in the world, the price target on that stock dropped 40% in one day without getting some kind of a warning from the analysts? we'll be taubing to an analyst later this hour who sent up some smoke signals last week