nokia and microsoft unveiled their most powerful smartphone yet wednesday, but the new lumia failed to impress traders. nokia tumbled 16%. >>> moving to soothe nervous investors, facebook rebounded almost 5% off an all-time low after the company promised not to sell stock to cover a nearly $2 billion tax bill. moving to soothe its own staff, facebook also said it will allow employees to cash in their stocks weeks ahead of schedule. >>> mens warehouse quarterly results narrowly beat estimates, thanks to strong demand at its higher tuxedo rental unit. >>> elsewhere companies got more productivity from their workers this spring than the government originally estimated. >>> a world economic forum survey found the u.s. ability to compete on the global business stage has fallen for a fourth straight year. >>> and, finally, a big ruling in fashion business and the law. an appeals court has ruled the bright red soles on french-wear designer christian louboutin's high-heeled shoes are so distinctive, they deserve trademark protection. us ladies do love those shoes. >>> well, coming up a nationa

i think there was actually a lot of disappointment after nokia announced these new lumia devices. but, you know, they're knot nice looking devices. it's just i think people wanted them to leap frog apple and android and it's not going to happen. >> that's our show for this week. i'm scott mcgrew. thank you for making us part of your sunday morning.

the line lumia will offer wire his charging, and -- >> nokia trying to focus this on going places, and having experiences and capturing them. >> reporter: nokia did not reveal a price for the new phone, but said there would be a cheaper midrange version, the lumia 820, and both would be available before year's tend. mark barger, nbc news. >>> not only is the pricing still a mystery, so is the date when the new smartphones will be available for purchase. >>> when we come right bulk on "news4 at 4," we're just getting started. keeping your kids healthy. dr. jackie is here to tell us how the school building could be bad for that you are allergies. >>> plus another layer of airport security. don't be surprised if somebody asking to look into your bottle of wart after you go through security. >>> she's got game, a teenage girl making history on her high school football team -- that's not her. not her. >>> and did nikki i'm barack obama, and i approve this message. mitt romney's position on women's health...it's dangerous. vo:mitt romney and paul ryan would get rid of planned parenthood funding. and allow employers to deny coverage for cancer screenings and birth control. we can't a

many application developers simply avoid it that's where it concerns over future sellers of the new lumia as popular apps and short demand on smartphones. are european markets are you seeing the close in picture of the day mixed one he once again everyone is waiting to hear what will happen on thursday when the european central bank will meet and of course see what will happen with its bond buying program we are waiting to hear results about that action hopefully for investors when it comes to currencies the euro still strengthen against the u.s. dollar the ruble was mixed against both major currencies you can see there exactly what happened when it comes to the russian markets decline in oil prices made of really hard for russian investors to remain optimistic results in the r.t.s. and the myself setting around one percent and then not saw the day shaped up in about nine hours the wonderful katie will pick up where i left off for now back to you bill thanks very much in the marine have a good night to you very shortly peter lavelle and these guests will be holding a heated debate on whet

and many application developers simply avoid it that's for the concerns of a future sales of the new lumia as popular apps ensure demand on smartphones. and a quick overview of our of their markets we have europe there who so i make spirit of course everyone is awaiting to hear what will happen tomorrow during the meeting of the european central bank thursday and then of course we have the currency the euro is still strengthening against the dollar when it comes to the ruble was so i'm mixed picture as investors here are waiting to see what will happen at the apec summit in russia as for east let's take a look at the russian of the markets and see what happened there a decline in oil prices means russian investors will really improvise and we saw that reflected in the figures both the r.t.s. and m i six shadow around the one the percent and this brings us up for this hour another edition the final review of the day coming up next hour for now back to you bill looking forward to seeing you in about an hour from now and i'll be bringing you today's headlines in just a few minutes and run off

. >>> nokia slashing price of its older smartphones after launching two new lumia models. of the mid-range lumia 800 was reportedly cut by 15%. >>> casinos in atlantic city is placing a bet on outdoor gambling. golden nugget is first to offer customers gambling at outdoor pools, bars and shopping arenas. that is today's speed read with time to spare. [buzzer] david: look at that. way to go. liz: finally. david: all right. gold getting another boost today by news that central banks here and in europe are closer to printing more money to buy more debt. that news may have boosted gold in the markets in the short term. our next guest says it could be devastating for our economy in the long term. it can only be stopped by returning to a gold standard. the chairman of the larry man institute and the former partner at morgan stanley. also mentioned as possibly a commissioner in this gop gold commission if romney becomes president. have you heard anything about that? >> what we read in the "wall street journal." i think it was seth drew attention to the fact that the republican pl

the company unveiled its new lumia 920... that compensates for shaky hands and a non-plug-in charging systee.it also feature calleddcity lens. harlow says: "...by pointing your lumia smartphone camera at any city block, nokia city lens llows you to see the names of restaurants, cafe's, shops and other sites overlaid right on the surfaces of the building..."but nokia didn't get the feeddack it was hoping for. analysts complained the company didn't say who the carrier would be and didn't give a price, or a specific launch date. motorola was also ssort on details, only saying that one of the razors will be available next week... no word on the other models.im carrie peirce and thats your pwrd on the web. a baby back from the dead after 12 hours in a morgue fridge. how mom saveddher bbbies life by refussng to give up hope. ...and oming up in just 5 minutes on the late edition... edition...dozens of dead animals... found inside this home in howard county...why the wner was found ánotá guilty of animal cruelly charges ...and he tou

kicked off gadget palooza week with its new lumia phone. it's not winning over investors though.e, it's kind of a rhetorical question right? there is no question. this is their shot. the last stand isn't it? >> i love the microsoft windows mobile. i think that is going to be great. i think the device looks unbelievably cool. the pure view. i love the fact it's got the wireless charging. there's a lot of reasons to like this. but obviously you're going up against a ploun tain of an opponent right now when looking at the androids of the world and all the rest of it. there is an uphill. i don't think they're going after apple but they want the next level and maybe over time they'll be able to convince the rest of the market out there they're in the right spot. >> can they do that at this point? can no contestya really make some noise? >> i don't think so. the game is over personally i think. the stock is down what 93% over the last five years? it's the same as r.i.m. >> problem is even if the thing is well received, it is well received until september. what is it, the 12th? >> yeah.

york. >> reporter: meet nokia's and microsoft's new smartphone, the lumia 920. >> he're we go. >> reporter: the finnish phone maker and the world's largest software maker unveiled it today in new york. >> we started with the ambition that nokia could build something beautifully different. this is lumia, the world's most innovative smartphone. this is a very important milestone. in a sense it is unbelievable how far we've come in just 18 months. >> reporter: the question now, is how far can they go in reclaiming market share lost to apple, samsung and google. >> i think the new nokia looks great, but that's not good enough because the iphone 5 is going to look awesome and so do the phones that just came out from motorola and google today. >> reporter: here's a peak at those new motorola smartphones. it's a line of android devices under the razr brand name. and the first major launch since the company was acquired by google a year ago. >> there's something about the android eco system and the android approach that's produced a platform cover with cutaways so

how do we gauge the success of this new lumia phone?ase date yet but in terms of units and share how will we know it succeeded? >> the way we look at this and the targets we set for ourselves is to show a clear step by step growth in overall win dose phone market share and our share of that part of it. clearly in the industry today there are some big competitive forces at work. and we are pushing very hard to make sure we shift those dynamics. we think the opportunity is perfect to do that because not only is it about windows phone 8 and what we're launching here today but also the landing of windows 8 so you'll see the same experience on phones, on pcs, on tablets. and as microsoft indicated on stage a few minutes ago, it's estimated that by the end of the next year there will be between 300 and 400 million devices out there that will be sharing this experience be that a pc tablet or phone being part of that is great. >> we'll have to leave it there. thank you so much for being first on cnbc. good luck with this phone. guys, back to yo

we will see new lumia phones with windows 8 operating system. a couple of reasons. nokia's market cap is $10.5 million and stock is down more than 90% from its highest. if nokia can't save itself with great phones we have to talk about how whether and how microsoft might bail nokia out. a couple of hours after that tomorrow we have got a big launch from google's motorola mobility unit. the biggest leak is that we will get phones with edge to edge displays. then you have got a slew of windows tablets coming up and we just got a new an droid tablet from sony last week. i sat down with paul jacobs to talk about the reason he sees for this unprecedented season of gadget launches. he points to apple. >> you look at google, they were really focused on software. then they buy motorola. then you look at microsoft and now they launch surface. you see amazon focus on retail and now they launch devices. the fact that apple has been so successful and obviously what their market cap has done has caught a lot of people's attention. >> apple not to be left out

the former world number one mobile phone maker chose new york city to unveil the lumia 920, a device they hope will change people's smartphone habits. >> we are creating the most personal smart the space phone experience. we started with the ambition that nokia could build something beautifully different. this is lumia -- the world's most innovative smartphone. >> with the innovative cam system and wireless charging, nokia is out to take apple and samsung by surprise. the swedish company is also challenging google's enjoyed market by picking microsoft to supply the operating system -- google's android markets. but there has been a lot of catching up to do. >> it is unbelievable how far we have come in just 18 months working with nokia. it was a fallout sprint. >> it is a last-ditch stand for nokia, and won many analysts say could be too late. most people are focused on next week's likely unveiling of apple's iphone 5. >> i cannot do it anymore -- those were the words of a soccer player for the second division site: after he quit, following threats by supporters of his own team. >> th

cutting the dividend is certainly not good news, but they've priced their knew lumia, more than the samsung galaxy so they're pushing a new phone now and that's where the euphoria is surrounding nokia. stuart: i've got to say i don't get that. priced the new phone higher than the galaxy and now it goes up. and blackberry, research in motion, that stock has been all over the place. >> all over the place has been higher. up 2 1/2 today. through yesterday's close for the week, it was up 8 1/2% so say it's up almost 10% this week alone ahead of their numbers. >> nokia and research in motion, day traders favorites, believe me. low priced stock in and out in five minutes. >> i love it when we believe you. stuart: and dow jones industrials average 56 higher. 13, 468 right now. mitt romney told voters his tax plan might not decrease tax bills as much as they might expect. is he backtracking and telling the truth? and joining us is former new york mayor rudy guiliani. if is he backtracking if they don't get the 20% tax rate cut and cut the deductions which these people get even more, is he backtrack

new iphonn next seen ahead of apple's event. the company unveiled two psartphones -- the lumia 920 and lumma 820.but nokiaadidn't ggt the feedbackg for..nalyyts complained because the company didn't say who the carriir would be and didn't give a price, or a specific launch date.nokia ssmply said it plans to start selling the lumia later this year.motorola was also short on details, only saying that pne of tte razors will be available next week... ut didn't give details on the othhr two models.next week, it's apple's turn... and then shoopers will get to ddcide who's the winner.i'm alison posii in newwyork. makinggover..the hoopital gown.... gown....how one woman is getting rid of that embarrasing open back! president stated recently that if you are suucessful in america you have the government to thank. without the roads, bridges, teachers, and other things provided by the government people could not have accieved success in america.i think these are some of the most asinine statements i've ever heard from anyone. ccmments llke this are a slap in the face to the american dream and reveal the president's naa/ve view that governme

nokia waiting for that new phone, got poor reception, look at that decline but it has gone up quite a bit going into that lumia phone. we had consolidate trarkt strong at u.s. air. capacity declines at ual, that happened them as well today. let's move on, people have been talking about the low volatility, here is something out of btig. the s&p has not closed up or down 1%. it's only happened ten times in the last 15 years, and 80% of the time, three months out, the market has been up an average of 4%. >> stick with us, a lot more to come your way on this special wednesday edition of the "closing bell." >> coming up, easing the fed. >> i think we should go and split up investment banking from banking. >> sandy wyle opens some ies on the street with those comments, now william harrison tells maria why the former city group chairman could not be more wrong. and clintonomics. do different times kaulg for different measures? former obama economic advisor peter orszag weighs in. plus, keeping up with kim kardashian. she's laying the grounds for a fashion empire and she's talking only to maria. ch, we understand the

new smart phone. the product contains an array of features including a camera that compensates for shaky hands t includes an augmented reality feature called city lens. >> by pointing your lumiamart phone camera at any city block, nokia's city lens allows to you see the names of restaurants, cafes, shops and other sites overlaid right on the surfaces of the building. >> reporter: nokia also has a cheaper mid-range model. both phones run on the latest windows phone operating software. >> windows phone aid will enable these devices to use the live tiles, the great photo experiences to make the most personal phone experience, bring the people and things that you care about most right to the front and center of your experience. >> some analysts say this may be nokia's last major shot at reclaiming a market lost to apple, samsung and google. >> windows is so far behind in terms of market share against android and apple. they have to almost battle person by person to get anybody to switch. >> reporter: investors don't seem impressed. shares in nokia plummeted 13%. in new york, lauren green, fox news. >>> new day, same headline, not that we're upset about this. the washington nats w

with this week's product introduction by know yo, the lumia, not lumina, and apple expected to debut the iphone 5 next week. futures ahead of this it newss morning, dow looks like it would open up about 84 points higher, nasdaq 7 points higher and s&p about 9 points higher. >> now back to charlotte, john harwood at the dnc, you have the story about -- >> we can't hear you with your mike and i see your mike but we can't hear it. >> we can see the mike but we can't hear it. >> let's get to john harwood in north carolina. talk a little bit more about what happened last night and maybe give us more color. we've been trying to find pictures of bob rubin adventure in the pool. it didn't look like an inground pool. am i wrong? >> it was on the sixth floor of the hotel. >> it was in the middle of the, okay. just trying to get a visual going. >> in a room and it was so close to the door, entrance to the party that if you were looking down at your blackberry anybody could have fallen in that pool. it was very, very close and yeah, i wish i had a picture, too. there were i think there was at least one picture snapped but i couldn't, the person who

lumia, next week will be filled with excitement around the iphone from apple. coming months will be crucial for nokia. nokia's investors weren't too impressed by the new phone.ers will decide whether the fallen giant can rise again. rory kelen jones, bbc news, new york. >> combined, samsung and apple make up 50% of the global smart phone market. there is such a stranglehold on it. really not a relevant third player in the game. at this time. >> i would have thought the number would have been higher. 50%. >> 50%. there's my favorite phone. remember those? >> get the briefcase out? >> look at that thing. oh, we have come a long way. >> calling rob nelson. looks like walkie-talkie. >> from my rotary. >>> more after this. stay with us. . m my rotary. more after this. stay with us. independence? who do you call? call hoveround now, to see if you qualify for america's premier power chair. hi, i'm tom kruse, inventor and founder of hoveround. now you can do more, see more, enjoy life more. here's why 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 emplo