and that's the opportunity, we think, with morgan stanley. and it's got much more to go. let's look at the chart itself. this is a one-year chart and what's important here is the authority of the 24 level. and how we broke out above that level and now we're quailing just a little bit above it. keep your mind on 24 and look at some longer term charts. that 24 level is also a break above the downtrend line that's bng if effect four of the past five years and if you look at the last chart, it's also a five-year chart, it's juxtaposed again, where we are now in relation to what you call a double bottom, and where i think we're headed, 30, 31. a lot of opportunity here. we like it and the stock was up today in a very bad day for the market. >> yeah, and that was a good sign, certainly. mike, what do you think? >> you know, it's really hard for me to chase stocks that have had as strong a run as all the financials, frankly have. morgan stanley, also. the company has transformed itself a little bit. when we look at it, less of the trading revenue. m

but the morgan stanley decision is likely to receive a little scrutiny because morgan stanley is onee brokers, which is one indication of the chris crossing relationships between a major hedge funds and the brokerages on wall street. sac is one of the biggest clients and rapid trading style relies on borrowed capital which is key to goldman sachs and others. morgan stanley investors understand their risks, which is why they are comfortable staying on board. whether other clients decide to stay on remains to be seen and i'm tracking that closely. >> we knew about the sky bridges of the world standing by their man and morgan stanley thing is new and significant. >> it is new and one of the two or three players we were watching most closely. black stone of course is the third. morgan stanley has a couple of touch points with sac, the global wealth management arm, who kind of have been in hedge funds before and understand what's going on with sac and morgan stanley is not libel in these cases for what happens to sac. they have the investment management arm which often deals with more con

if you agree the market is at risk, europe, asia, morgan stanley gets cut in half. losses on fixed income, losses in bonds, losses in commodities. over 40% last year so i don't see a reason why it's going to be up this year. >> wow, first ever. 18 seconds left on the clock. >> we get to the point. >> we'll go straighter to the verdict. >> the shorter i speak the better i win. >> mike, what do you say? who won? >> i'm going to go with tim on this. any part of the institutional brokerage business you should be concerned about. the fixed income business is relatively small. this is a asset management business. i'm with tim on this one. >> that's why it's more defensive in a rising rate environment which is what we're talking about. this bank is not as exposed as they were. >> it has performed exactly on pace with the s&p. >> did you guys hear the buzzer? did you hear the buzzer? thank you. we want to know who you out there thought won the street fight? tweet us @cnbc. facebook holding first shareholder meeting. mark zuckerberg weighing in on everything from mobile to s

they don't have wealth management like morgan stanley.ame kind of banking like a bank of america or jpmorgan. it's kind of its own story. >> scott, do you remember a couple weeks ago at the conferences -- financial services conferences and jpmorgan said capital markets were better than expected. so i think you will have a nice offset. >> cme is one of the stocks that are up. >> i mean, you mentioned net interest margin. i know it's hard for the market to see this today. it's like the talk to the hand market, just doesn't want to hear it, but rising interest rates are not bad for the banks. >> they're not bad for the banks and they're also not bad for industrial stocks because it implies there's better growth ahead, so those are the two sectors you want to probably be overweight. >> also think about the discount. we never, ever talk about schwab. that's been a market leader. we never talk about e trade. these names are actually out performing your traditional capital market plays and i think they're an important tell on activity and confid

i know george roberts was just out at a conference out in san diego with morgan stanley. they were both talking about pipelines. that's where they've been adding to. it's the names they've been involved in. when you look at these names, scott, this is an area that's expanding all the time. we are talking about getting crude from different parts of the planet, particularly here in the u.s., and everywhere we go, they've either got to improve those pipelines or build those pipelines. i think you look at kinder morgan. one of the names i think can continue to perform. atlas is another one of these names. if you look in a subdivision of the financials, those insurers. something like a hartford, like aig. when you talk about the improving economy, these are names that give that you added torque. i know when we talk about the big banks, we talk about bank of america and citi giving you the torque. when you're looking for the torque, you go one slot further. >> doc, you like the hospitals? you like health care as well? you think that can continue to lead? >> i like health care t

equities strategist the morgan stanley. >> good morning. >> this is a market that you've been saying for quite some time appears to be either divorced from fundamentals or just trade on a higher multiple than you expected. what's happening now? is there a significant re-rating of what people expect going into the end of the year? >> 3 1/2, 4 months ago we got bullish on the market. it's good to be bullish and right for the change. i think the hall pass we've been calling it if you believe the second half of the year's going to be better nothing you learned in the quarter will derail that dream. we have a target in the middle of the pack. around with the market trading now. it's more of what you said, we'll have more volatility in the second half of the year, particularly if we get more centered tapering. it's all multiple and qe-driven. >> we got the jobs report friday, strong but not too strong. we saw the rally in stocks, second-best day of the year. we come in today, not much follow through. is it the fact that people ar

cheryl: i know you have the book and i will say this that morgan stanley is the investment firm and ae in the markets. head of emerging markets of course, for morgan stalemate thank you for being here. closing bell we now have 17 minutes and all of it will be ending. here is a question for you. is europe looking to hang the denim manufacturers out to dry? nobody laughed. what does it cost? coming up. the major indices remained positive despite being on track for the first negative month of the year and to worry betting on over the next quarter? ♪ [ male announcer ] the mercedes-benz summer event is here. now get the unmistakable thrill and the incredible rush of the mercedes-benz you've always wanted. ♪ [ tires screech ] but you better get here fast. [ girl ] hey, daddy's here. here you , honey. thank you. [ male announcer ] because a good thing like this won't last forever. mmm. [ male announcer ] see yr authorized dealefor an incredible offeon the exhilarating c250 sport sedan. but hurry. offers end soon. incredible offeon the exhilarating c250 sport sedan. everybody has different i

equities strategist at morgan stanley. gentlemen, great to you have on the program. >> great to be here. >> alan, the big story of the week, of course, is the fed, and what bernanke said after the meeting. that the fed would begin likely to slow down the bond-buying program that $85 billion of bond buying enmonth later this year and perhaps be out of the bond-buying business by next year this time, mid-2014. >> right. >> did that surprise you? do you think this was the right decision? >> it did surprise me, because it came a bit earlier. i mean, in the large sense, it's not a surprise. they have to go out of this business, and indeed, not just go out of buying but start to get into selling at some point. that's not a surprise. but the timing surprised me. i didn't think -- you know, he's now set a tacit calendar of starting to sell in september or so and finishing -- starting to taper -- sorry, and then finishing by june. that's a very specific calendar. and that surprised me. >> adam, the markets tanked on that. i mean, y

morgan stanley shares surging 90% over the past year, do you agree with this one? >> i do. u're right, moran stanley is up and look at this kwp. very repillient, nearly $2 million just in their financial advisory vertical. i do think they are being very prudent, booking pocket. i would like to see them come down and i think financials have red this rally, so this is a good call other to book profits. >> mccarron to outperform from neutral. one analyst said we upgate from hoisted, i don't know what hoisted means, but what hoisted estimates for fiscal 2014 and physical can a 2015. hasting those estimates, do you agree here? >> well, the only thing we like to talk about in hoisting is the stanley cup because the blackhawks are going for it, but back to the net, tyler, a lot of things going for montanto right now. they are the so they have a great global footprint and the revenue is growing. they will launch a $2 billion buy boc and one thing that was pointed out today and there's a large activity to the bash irside. once we saw north korea eventually want the words. right now t

we are morgan stanley. and we're ready to work for you. neil: here's all you really need to know.te house has a hand. the little guys don't agree. small businesses are hunkering down, 61%ear tha the government is targeting them. which means a lot of them are spending a lot more time worrying about uncle sam instead of worrying about their own business. if you are really getting paranoid about the government spyi on you or collecting your record are eyeing you, you're gog to have this. >> this is the most misunderstood portion. it is a month opeation through the republican party or the democratic party and people don't know who they are. and they feel like the government not only doesn't help them, but now they think they are rgeted and they really are not getting no taxes as many big corporations are. warren buffett says that he was only paing 17%. well, he doesn't have those types of breaks and its misunderstood. i am one of them. i've been an entrepreneur my whole life. th's a small business. >> they do have a legitimate fear when it comes to the irs and health care. we had a bu

>> he's allowed to resign from morgan stanley, and he takes with him millions of dollars in back pay, dollars in back pay. it was all hushed up, basically. >> did most of the people who made these terrible decisions leave with a lot of money? >> yes, they all did. i did not--i haven't run across a single character who didn't get rich. anybody above a certain level in all these firms made huge sums of money by any standard. and the people who were-- i mean, this is where it gets a little creepy. the people who were most instrumental in building the subprime mortgage machine also happened to be the ones who had the most detailed understanding now of the securities in the rubble. and they're being paid all over again to sort through the mess, because they're the experts. that is an age-old trick on wall street, 'cause generally speaking, people who create disasters make a lot of money cleaning up the disaster, because they're the ones who know about the disaster. >> by the fall of 2008, with a.i.g. and all of the big investment banks at some risk of going under, the government stepped in

we are morgan stanley. and we're ready to work for you.highest point of the year and making it the longest day of the year. it is split this year and meaning for the east coast it happens early tomorrow morning and tonight on the west coast. the next split solstice will happen june 17th. and facebook instagram expanded for videos. and number four people died after an explosion in a fireworks warehouse west of montreal. and the dow plunged more than 350 points, the worst trading session of the year. and attorneys finished seating the jury in the george zimmerman trial. and six jurorors and four alternates and all women and surveillance video shows that aaron hernandez, the same night wound to the head. that is the fox report top five. >> and on this day in 1977. crude oil poured down the transatlanta pipeline. they discovered the massive supply on the northern coast. a place tanker shipscant go. and there came a plan to build a pipeline. when crews finished it spanned over 800 miles right to the port of valdez. there was a environmental dis

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we are morgan stanley. and we're rey to work for you. for their fami. that's why i created the nest comny. i was just aoncerned mom, with a crazy dream. a wish that there was a company that i could rely on, that did all of the hard work for me. i'm jessica alba, and the honest company was my dam. [ male annncer ] lalzoom has helped a mlion businesses successfully get started including jessica's. launch your dream at legzoom today call us. we're here to help. ♪ joining us now fox news senior judicial analyst judge andrew napolitano. judge, edwardnowden has broughth world down arnol his head by steing out on this. some people describe him as a hero, hers as a traitor. where are you? >> i have described him an american hero when i first learned of this and i continue totand by th position. if he did what he said he did, if he is the person w realed all the government's unconstitttional behavio he's confronted with the folwing. an oath to keep secret the information he w given, on oath to uphold the constitution and a clash between t two. so what do you do?

ware morgan stanley. and we're ready to work foyou. night sharing is caring but arista's not to care to share their tips but new york disagrees the supervisors too much as the same work in deserved a share of the tip. now to the lawyers with opposing views. you say in this case they get roasted? >> absolutely. this is terrible. they go to work and their job is a specific job. they serve people and their work very hard and it is an individual thing. lot of people going to coffee restaurants for a particular ashbery step now when they go to give them there ninth step now they will not get the entire chip but to be shared amongst other people. now if you have another supervisor who wws not doing anything they can pull down everybody else's tips and it is a horrible horrible decision. charles: i consider myself a good tip turbidite tip before actual service in personality not just as said knee-jerk reaction to it does feel a little unfair. >> it is not just about the persons serving you directly but there are other people behind the sir th

we are morgan stanley. and we're ready to work for you. from capital one... boris earns limited rewards for his small business. can i get the smith contract, ea? ank you. that's three new paper shredders. [ boris ] put 'em on my spark card. [ garth ] boris' small busess earns 2% cash back on every pchase every day. greabusinesses deserve unlimited rewards. read back the chicken's testimony, please. "buk, buk, bukka!" [ male announcer ] t the spark business card from capital one and earn unlimited rewards. choose 2% cash back or double miles on every purchase every day. told you i'd get half. what's in your walle neil: the next time you are asked whether you should agree to the terms and condiions coming you better read all of them. one e of my favore lawyers says this whole nsa right to spy on to is etty much all spelledts out there. a teeny tiny black-and-white. >> on the one hand at it like you agree to this. on the other hand it is all in e namef national security. >> where did i agree to this? >> somewhere in the 20 or 30 or 40 pages that you need triple

embureau of alcohol, tobacco, reimbursement with state street and agreement with luke capitol and morgan stanley and authorize director of transportation to make necessary modifications. to give you background, proposition a is a really helpful tool for us because the capital intense terri intensive agency [speaker not understood] a great additional tool to our kit. and commercial paper is really interim financing vehicle and i think we went through that last time, but let me repeat it and it's basically the interim basis where we figure out long-term financing strategy. that has been sorely missing from our portfolio. we have been basically pay as you go and wait for the grant and this will really allow us to stop projects and move on them. it's only issued and funded when they are needed and commercial paper is maturity of 270 days compared to 30-year revenue bonds that you authorized a year-ago. on the maturity date, rolled over and subsequent issuance of subsequent notes and ultimately will be retired either through paying back the commercial paper through an alternative revenue source that

we are morgan stanley. and we're read to work for you. neil: so taxman goes after liberals too. the timing of the revelations, jay is from american center for law and justice, represents conservative organizations suings irs, better than 40 of them as we speak. what do you think of this charge now progressives targeted too. two questions, why does that matter? >> it doesn't. it u.s. is not matter. i have not heard of these groups by the way issue no one has come forward. neil: that is what i'm saying. >> not one has come forward. >> they have not come forward, only leads ni believs me to bele are no that many of them, how does that negate what irs did? how does that somehow lessen the oomph of this? it does not, we filed a amended complain. it challenging the process applied to conservatives or liberals we're saying in this lawsuit, representing front group, added causes of action is process is flawed from the beginning, they offered this ex thaexpedited check outline, if u agree to sign under penalty or perjury, that 60% of your -- is not political, that is not a test, they are

that someone is a morgan stanley financial advisor. and we're ready to work for you.ri: a little known trick can boost your f gerri: elite stus in frequent flyer programs can give you a lot of extra benefits. many including incentives to switch loyalty to another airline. how do you pay airlines against each other t to t th best poible benef joining me now is tom cours, tell us how these status matches were. what is that? >> well, they have been doing this for about 20 years,aybe lonner. if you are an ite status pers, that means that you fly an average of 20,000 miles or more. 50,000, 75,000, 100,000 miles. if you're one of those elite status people and you want to swit your loyalty to another program, let's say you ae with american do you want the united -- you can usually just a minute your last, wt we call your frequent flyer statement. show them that you have flown so many miles. show them your status. they are very eager to get yr business. lately they have been charging you to join. gerri: will the way that? >> you know, if you tell them they have a choice betwn

with david at morgan stanley.continues. jobs are doing well. confidence is decent. now waiting to see retail sales next week. overall you see financial did lead the way, hey, nicole, we have the apple worldwide developers conference on monday. shares of apple turning around midday after trading down as much as one%. a positive note from isi group? >> that doesn't hurt, right? obviously heard jason weisberg long apple, loves apple on with us earlier today on fox business. you can see apple holding on to nice gains. $3.64 a share. >> also taking part in the rally airline sector. what is goldman pointing its finger at? >> they upgraded united they took it off the sell list that is a good start. putting it on neutral. southwest guided revenue. that looks pretty good. coupled with jobs numbers we got today. that bodes well for all the airlines. adam: talk about something not working. [closing bell rings] shares of coal stocks. >> arch coal down four% that is really lagging today. >> nicole, many things. bells ringing o

we are morgan stanley. and we're ready to work for you.ta mining was revealed, i felt threatened. my government, whing and been secretly backing up dat i know what my govement to know everythinn aboute. something's got to be private. the government says that the data help them pvent 15 terrorist incidents from the 50? i don't believe it. bureaucrats always exaggerate the value of their work. it is the homeland security state. people keepinn secretsre more prone to embellish. a spy says what they do is constitutional, federal judges approve everythi. they will not abuse his power. i don't tru them. they always abuse power. as one libertarian blogger put it, we will all suffer from the power the nsa if we do not check in now. another libertarian weighed in defending the spying pointing out national security as an area where government is still desperately needed. in the wall street journal editorial at, data mining is le intrusive on individuals and routine airport security. that isertainly true. whenni started to think about otr things my g

we are morgan stanley. and we're ready to work for r you.now seems that everyone wants to be like mike. at least a lot of mayors have taken a liking to mike. as in outgoing new york mayor michael bloomberg. a bunch of big city mayors are getting in on the act by proposing strict limits to using food stamps to buy soda, down the road a lot of other stuff they don't like. is that their call? to a guy from ben begins -- bennna begans sayss bu butt out. your issue is not the food stamp part but telling folks what they can do. >> i think that mike and dr. pepper got in a tussle at one point, and dr pepper beet the beat the hell out of him i don't know. the government overreach, and mandating what they can, and cannot ead o eat or drink is wr. that is a country of choice. that is what we should have. neil: i concur with you, this is the argument they make, you take care of yourself, not everyone is responsible. if they can't do it and won't do medical cost, government has to do it, that is the argument. >> well, when you say no or restrict somethi

we are morgan stanley. and we're ready to work for you. >>> the physician's assistant that treated george zimmerman the day after he shot martin was on the stand tonight talking about injuries on his nose and on the back of his head. she said wounds on zimmerman's temp could have come from his head being hit on the ground. >> consistent with it being hit on concrete, isn't it? >> it can be consistent with that, whether or not that is what it was struck on, i'm sure that can happen on multiple other surfaces, as well, but it could be consistent. >> could be consistent. joining me is dr. manning. >> you seen the pictures and heard the physician's assistant speak and heard it would be or could be consistent with someone's head striking concrete. what did these injuries tell you? >> yes, i would. these are lacerations and lacerations are injuries that are the result of blunt force, for instance, blunt force the head striking a heard object or blunt force, maybe a baton or bat hitting the back of the head but a

we are morgan stanley.ready to work for you. help the gulf recover, andnt to learn from what happenedg goals: so we could be a better, safer energy company. i've been with bp for 24 years. i was part of the team that helped deliver on our commitments to the gulf - and i can tell you, safety is at the heart of everything we do. we've added cutting-edge safety equipment and technology, like a new deepwater well cap and a state-of-the-art monitoring center, where experts watch over all our drilling activity, twenty-four-seven. and we're sharing what we've learned, so we can all produce energy more safely. safety is a vital part of bp's commitment to america - and to the nearly 250,000 people who work with us here. we invest more in the u.s. than anywhere else in the world. over fifty-five billion dollars here in the last five years - making bp america's largest energy investor. our commitment has never been stronger. [ whirring ] [ dog barks ] i want to treat more dogs. ♪ our business needs more cases. [ male

we are morgan stanley. and we're ready toork for you.d rewas for his small business take theseags to room 12 please. [ gah ] bjors small busiss earns uble miles on every purase every day. produce livery. [ bjorn ] just putt on my sparcard [ garth why settle for less? ahh, oh! [ garth ] great businesses deserve limited reward here's your wake up call. [ male announcer ] get thspark business car from capital one and earn unlimited rewards. choose doue les or 2% cash bac on e purchase every day. what's in your wallet? [ crows ] now where's the snooze button? neil: one jersey shore town is fighting people up to $200 for wearing baggy pants that having a bit too low. lots of towns are coming up with creative ways to get folks to copy -- cou up, including an interestingase where you get fined $20 each time. what the hell? you have a problem? tell it to theudge, but you better not swear. >> thankou,nk you. but. >> i would use different wds, creative ones. if i did find,t's ridiculous. freem of speech is my nstitutional right. neil: whht about t

we are morgan stanley. and wee ready to work for you. charles: that top-secret nsa data could soon be making a not so top-secret appearance in court rooms. a florida lawyer requesting phone recordsrom the secreti agency claiming they will exonerate the client for murder charges. the government refusing to hand over that data to fox news leg analyst and the attorney on whether this means private information will become public information. this is kind of scary stuff. >> how necessary, the man's life is in the bance. either way, murder charges, it will risk all oo the liberty. i have to get this kind of information, if it is yours it can be done in camera, by motion. obably because of all the media interest surrounding the fact that had been a subpoena to verizon, that is why the lawyers said verizon actually gets rid of the records within a limited period of time, maybe nsa has it. speaketurned out verizon had destroyed their records slay said i heard about this program and the maybe keeping these records nger than vezon and guess what, h

we are morgan stanley. and we're ready to work for you. for their family.why i created the honest company. i was just a concerned mom, with a crazy dream. a wish that there was a company that i could rely on, that did all of the hard work for me. i'm jessica alba, and the honest company was dream. [ male announcer ] legalzoom has heed a million businesses successfully get started, including jessica's. launch your dream at legalzoom today. call us. we're here to help. >> charles has winners what dow have? >> little lemon a stock is over solid. look at winnebago. huge backlog and people are getting back on the road and rkul us. strictly on call and this company is poised to break out. >> i wish i hador adam and ben. in the meantime the cost of freedom continues. >> tax hikes and a key report showing the economy is growing slowly than thought. the big reason why. tax hikes kicking in. and some at forbes say we need tax cuts to get our economy booming again. i am dave asbin. welcome to forbes on fox. we'll have steve fosh and rick and elizabeth and mike andbill

morgan stanley said we had two jup upgrades this week.rust is not going to sell the stock. you may want to sell it. i know @jimcramer, people hate me for this. i did a lot of work. it is doing well as a company, it is doing badly as a stock. next is tim, which is better bet today? phyllis or las vegas sands? you know what, the phyllis win five games everybody thinks they will win the series. las vegas sands is a better bet. charlie emanuel, no offense, whatsoever. circumstance domenic brown, you come public. "mad money" is back after the break. >> is what has to go right to maintain this momentum. it started yesterday with that amazing reversal and continued through today. what is to go right that this, indeed, was what the late great mark haines called a roosh bottom where everybody has sold and buyers are attracted to the market. first we need interest rates to stabilize or at the very least go up at a slower pace than they have been as the economy recovers. this morning's employment report was slightly better than expected, which could

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morgan stanley said something good. we had two upgrades this week. i'm not going to sell it.charitable trust is not going to sell this stock. you may want to sell it, and i know that on twitter people mate hate me for this. i did a lot of work. it seems like it's doing well as a company, and it's doing badly as a stock. our next tweet is from tim 35473. which did better phillies or las vegas sands? phillies won five games, and now everybody thinks they're going to go to the world series. las vegas sands is a better bet. charlie, no offense whatsoever, and, sir, dominik brown, you come public, i'm a -- "mad money" is back after the break. [singing] hoveround takes me where i wanna go... where will it send me... one call to hoveround and you'll be singing too! pick up the phone and call hoveround, the premier power chair. hoveround makes it easier than any other power chair. hoveround is more maneuverable to get you through the tightest doors and hallways. more reliable. hoveround employees build your chair, deliver your chair, and will service your chair for as long as you own

i think a better place here would be to look at morgan stanley, that appears to be holding the momentum over the last couple of weeks. >> downgraded by morgan stanley, the product cycle story is muted because of competition and i would say from cisco. >> steven cohen, in the spotlight today is the day investors will decide whether to bail on the embattled hedge fund. kate kelly is following the story and following the money as well when we come back. >>> may auto sales come in solid, why is one top ranked analyst picking a stock other than ford or general motors as his best in that space? all of that and much more when we come back. [ male announcer ] my client gloria has a lot going on in her life. wife, mother, marathoner. but one day it's just gonna be james and her. so as their financial advisor, i'm helping them look at their complete financial picture -- even the money they've invested elsewhere -- to create a plan that can help weather all kinds of markets. because that's how they're getting ready, for all the things they want to do. [ female announcer ] when people talk, great t

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we are morgan stanley. and we're ready to work for you.n you'll know how uncomfortable it can be. [ crickets chirping ] but did you know that the lack of saliva n also lead to too decay and bad breath? [ exhales deeply ] [ male announcer ] wellhere is biotene. specially formulated with moisturizers and lubricants, biotene can pride soothing relief and itelps keep your mouth healthy, too. [ applause ] biotene -- for people who suffer from dry mouth. gerri: schools across the country trying out a new computer program to manage the students. the interpret, that is, cloud data bases, give schools the ability tobring together a whole host of information on kids and not just grades and attendance. the schools say the systems improve education, but some parents say it throws privacy out the now. with us now, seth, what is the information ollecd here many >> well, they are systems d by companies like in bloom, huge data clouds, descendi on schools to collect a bunch of data about kids. everything from grades and classes to other ptenal and possibl

thatomeone is a morgan stanley financial advisor. we're ready toork for you. >>> you know, we really don't know very much at all about 29-year-old edward snowden, the leaker of the national security agency's surveillance programs. but over the past few days, we've heard him described as a hero, a traitor, a whistleblower, a public servant, a fugitive, a criminal, even by some might call him a bad boyfriend. nominally you can tell where someone stands on an issue by the "r" or "d" following their name in washington, d.c. but that certainly hasn't been the case with snowden. and we wanted to go through it here very quickly. first the case for labeling him% a traitor. let's lead off first by the speaker of the house, john boehner. boehner came out today saying flat out snowden is a traitor for showing our enemies what our capabilities are in surveillance. boehner by the way is a republican, but senator dianne feinstein, i mean, she has, well, she shares his view. she's the chair of the senate intelligence committee. she says snowden com

we are morgan stanley.re ready to work for you. ♪ ♪ ♪ [ male announcer ] if you can't stand the heat, get off the test track. get the mercedes-benz you've been burning for athe summer evt, going on now at your authorized mercedes-bendealer. hurry, before this opportunity cools off. going on now at your authorized mercedes-bendealer. >> we are back, a crazy ride in the stock market. and now stocks that are thriving in all of the volatileitty. morg, google? >> they have a fantastic balance sheet and bulletproof. >> bill, you like google? >> unfortunately the european authorities are going after the company. >> what is idecks. if you are in a mood for a uid company this is go to company. >> i what the heck is. >> i am not a mood for that. i wouldn't touch it until it comes down >> oil and gas and rigging company and largest on shore rigs and balance sheet. >> morgan, you like it? >> i think the competitor are better. >> and that's it for forbes on fox. have a wonderful weekend,eep right here. number one busine

morgan stanley raised their price target.idea that we have been talking about. >> i would love that. that is excellent news. thank you. the judges with us. he has been passing judgment all over the place. now, we have him pinned down right here. we are a financial program. i am interested by the aspect of the ruling if you are in a state that allows gay marriage and you are a gay couple and are married, you can now get benefits. >> even if you are in a state that does not permit gay marriage, but you were married in a state that dave, you are entitled to state benefits. if a same sex couple was married in new york and not couple moves to texas where it is not only an valid, it is prohibited, that couple seeks a federal benefit that absolutely entitled it. stuart: that is huge. financcally, that is huge. you could have a gold rush. you could have a rush of people. >> however, the state's ability to refuse to recognize that marriage is untampered with by this opinion. >> it does not matter. you give federal benefits. stuart: th

morgan stanley thinks other airline stocks will outperform. the industry and they note southwest 15% rejectioned return on investment capital targets, probably not attainable this week, a big hurdle next year. southwest, 10% off its 52 week high. >> google with a buy. >> believes google well positioned and capitalized on what they call a strong ecosystem. android, google play and video, all that stuff on your phone and advertising revenue growth, very positive. going-up up 20% year to date but be a little careful. stock does trade at 25 times earnings. something to note. >> adobe systems getting an upgrade. >> upgraded to a buy from a hold. is it falling analysis what have their creative cloud model has been, they are shifting adobe's software from box to cloud. everything ask on the cloud, there is no cloud, what computing is today. my thesis. watch out adobe, trace at 41 times earnings a historically large valuation. >> and trying to find an under the radar movement for you. >> not too under the radar. >> back on the radar. >> so it's a touc

that someone is a morgan stanley financial advisor. and we're ready to work for you. i did?hen visa signature asked everybody what upgraded experiences really mattered... you suggested luxury car service instead of "strength training with patrick willis." come on todd! flap them chicken wings. [ grunts ] well, i travel a lot and umm... [ male announcer ] at visa signature, every upgraded experience comes from listening to our cardholders. visa signature. your idea of what a card should be. >> you don't need a treasure map to find the prize in the technology industry. location, location, location, google agreeing to pay a billion dollars for waze, proving that navigation is a major target in the smartphone wars. joining me now isc joe brown. good to have you on the program. let's talk about the deal of the week. what is waze, why is mapping such a hot target? >> waze is a real-time mapping service. the kind of thing that shows you, don't again on the george washington bridge, it's jammed up. and it does it with an active community of 50 million users who, according to waze, s

morgan stanley said something good. we had two upgrades this week. i'm not going to sell it.not iffing to sell this stock. you may want to sell it, and i know that on twitter people mate hate me for this. i did a lot of work. it seems like it's doing well as a company, and it's doing badly as a stock. our next tweet is from tim 35473. which did better phillies or las vegas sands? phillies won five games, and now everybody thinks they're going to go to the world series. las vegas sands is a better bet. charlie, no offense whatsoever, and, sir, dominik brown, you come public, i'm a -- "mad money" is back after the break. uh-oh! guess what day it is?? guess what day it is! huh...anybody? julie! hey...guess what day it is?? ah come on, i know you can hear me. mike mike mike mike mike... what day is it mike? ha ha ha ha ha ha! leslie, guess what today is? it's hump day. whoot whoot! ronny, how happy are folks who save hundreds of dollars switching to geico? i'd say happier than a camel on wednesday. hump day!!! yay!! get happy. get geico. fifteen minutes could save you fifteen per

we are morgan stanley. and we're ready to work for you. >> hi, everybody. i am jamie colby. we are experiencing extreme weather in the country. severe flooding in upstate new york. one woman is missing and presumed dead after flash floods swept away her mobile home. emergency crews looking for more possible victims and in the west, temperatures are spiking through the roof. mercury expected to be in the 110. death valley, california, it could reach 130 degrees. be careful, folks. an american killed in egypt. the victim was a 21-year-old college student from maryland reportedly one of seven people killed in the violent protest. egypt bracing for larger demonstrations, tomorrow. i am jamie colby, for all of your latest headlines go to fox news.com. >> big news, mortgage rates surging from 3.93 last year to five percent. that is a big jump. a lot of folks believe it is bad news for home sales and prices. emac, you say that is great news. >> it is great news for the housing market temp really. it will get people up off their seats to look in the lower rate. pending home sales in

president of mna morgan stanley. >>> the third hour of "squawk box" begins right now. ♪ welcome backuest host this morning is scott sperling, co-president at thl partners. we'll have more from scott in just a minute. first, andrew has your morning headlines. we had a couple headlines. we're announcing a new larger version of its 787 dreamliner known as the 787-106789 they have orders for 102 jets from five different customers including you noticed airlines him lit seat up to 330 passengers. >>> also this morning, hedge fund low point raiset its stake from sony to 7% from 6.3%. i are calling for sony to create an independent board. they sent another letter to sony ceo today ap also in that letter suggesting that they would be opened, welcome even to getting a seat on that board. it was sort of a very passive-aggressive way of saying they would like to -- >> i wouldn't mind fit you offered it. >> i wouldn't mind it. >> i'd be okay about it. >>> let's take a look at the markets this morning. we do have some green arrow, even though the markets were up sharply yesterday. at this point do

with us now michael holland and david dars from morgan stanley. >> wow, pulled out the big guns thisve got to know where to go in the second half of the year. david, you've got an interesting idea in the technology space. >> kayla, we like apple. the stock has fallen. it's had a double bear market. the stock is down 44% from the 700 level. >> did you like it during that time? >> we liked it at times, but then when things started to get cloudy on the margin situation and the revenue situation, we pulled back. our analyst got a target, now, kayla, of 540 up 38%, why? number one, she thinks we're going to get a contract from ntt and china mobile. china and japan. number two, you've got the iphone 5s and the low-priced iphone coming, itv next year and maybe iradio coming in with that. finally, sells for ten times earnings, yields 2.8% and number five, $60 billion stock buy back underway, kayla. >> right. >> the largest in corporate history. buying stock every day. >> here's the question, if you're long apple, do you short blackberry? yes or no? >> i would not touch shorting blackberry fo

we are morgan stanley. and we're ready to work for you. how old is the oldest person you've known?eople a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed: the official retirement age. ♪ the question is how do you make sure you have the money you need to enjoy all of these years. ♪ >>> out in los angeles, the man at the heart of that kpmg insider trading scandal of recent days is speaking out for the first time, and our jane wells spoke exclusively to him. jane? >> reporter: bill, scott london admits he threw away a 30-year career because, he says, he helped a friend in need, tipping off brian shaw ahead of earnings reports. shaw made over $1 million on the illegal trades while london eventually says he accepted kickbacks worth about 70 grand. >> i never once asked for any money. never was -- you know -- >> you didn't turn it down. >> that's correct. like i said, i regret everything i did, and i take full responsibility, full accountab

gary whitfield manages the money of the super rich for the whitfield group part of morgan stanley. >> you went to oxford? >> yes. >> you have an mba? >> i do. >> you're the expert here along with him and we'll try to put this in lemonade language. my understanding of carried interest and it can be controversial, is the person the money manager, the private equity that brings money in that helps a business, is able to benefit in a way that is he's paying a lower tax rate than he would be if the fees he charged were considered regular income. is that a fairly good understanding of what carried interest is? >> i think that's pretty close. pretty accurate. the thing to remember is that in private equity or venture capital investments, the general partner or the gp is managing the investments by and large and contributing up to 5% of the investment capital. >> they have some skin. >> they have some skin in the game. >> the rest of the investment capital is contributed by the limited partner. >> the money people? >> the money people not managing investments but making and contributing capit

chad morganlander and david from morgan stanley. good to see you. thanks for joining us.k? we had a tough week obviously. emerging markets getting smashed. u.s. got smashed this week. what do you do now as an investor? >> maria, wait for the u.s. it's down 5% approximately. it was up seven months in a row, 15.4%. it had not gone down one month since last october. so november through may, 15.4. let it come to you a little bit. we don't think the correction is over. on emerging markets, maria, still got a ways to go further down. so let's stay away from the emerging markets. do go into japan. japan has had its 20% correction. >> yes. >> go into japan and get ready. finally, maria, get ready to go into europe. the thing sells for 12 times earnings, a 40-year low relative to the u.s. p/e. it yields 3%. and they're about to open up the purse strings to the other countries, to portugal, to greece, spain. go into europe. go into japan. wait on the u.s., and don't sell yet on your emerging markets. >> okay. >> chad, he put a lot of cards on the table. which one do you pick up? >>

we are morgan stanley. and we're ready to work for you. ♪ >> green and turning red.te house seto announce a new global warming push targeting power plants with stricter limits on emissions. criticsay will hit consumer with higher energy costs. monty bills up 40ercent in the past ten years, can we afford it? >> we couldn't. look, i can give you an exale look at the chart of the coal stocks after they put regulations on these companies. electric companies will raise prices on the consumer and our costs will go up. that will affect theeconomy. it is a big cost to the consumer. >> ben, it seems tough that we are ask to pay so much higher in electricity costs in a time when the country is trying to stggle out of the abyss that it is in. >> there is no cost to high to save the earth. the really problem is do we know it is hurting the earth. the scientist are not 100 percent unanimous. despite what they tell us. the signs are not clear on this. just don't think we should go all out on this. >> adam, getting rid of 43,000 mewataugas of power and reace it with what? >> just h

we are morgan stanley. and we're ready to work for you. has oats that can help lower cholesterol? and it tastes good? sure does! wow. it's the honey, it makes it taste so... well, would you look at the time... what's the rush? be happy. be healthy. >>> prediction. take it away. >> i'm going to pick a stock that was kind of batter this had past would he be and that's the good old red and white there, coca-cola. i think it's back to old highs by labor day. >> bull or bear? >> overpriced. >> john, your prediction. >> sirius satellite announces a deal to put internet in every ford car. i see serious upside in sirius up 20% by the year end. >> john, bull or bear? >> i'm a bear on stocks. >> okay. jonas. >> if the nsa bugs you you, we found out the cable box will watch what you do. that is right, you will see ads for dandruff shampoo. >> they're watching you. gary. >> i like verizon after it drops another 10%. >> john, quickly. >> facebook finds a way on monetize. video will help them. >> bull or bear? >> too much of a run up. i'm a bear. >>> never let a scandal go to waste. and when it