i told oppenheimer it would be a great mistake to use the bomb generals cities of japan. well, don't you think that if we tell the russians what we intend to do and use the bomb in japan, the russians will understand it? they'll understand it only tool well, jilad replied. brigadier general clark, who was the military intelligence officer preparing for preparing intercepted japanese cables, quote, when we didn't need to do it and we knew we didn't need to do it, and they knew that we didn't need to do it, we used them as an experiment for two atomic bombs, unquote. this is quoted in "the decision

robert oppenheimer, development of the a-bomb who was head of the institute for that study was one of the victims of mccarthyism. many state department colleagues were fired because of the activities of the senate committee that mccarthy was running and the house on american activities committee. this is what happens when a democracy runs amok and he really had very skeptical views about what democracy was workable and was american democracy workable and he would be the first to say that was a low point in the history of american democracy that period of time. >> host: next call for john lewis gaddis from oregon. you are on booktv on c-span2. >> caller: thank you for your wisdom and putting words into writing. my idea, you mentioned only 20th century theory, quantum. i wanted to get your idea what

oppenheimer just reright at -- reiterated their buy. now that we have a drop in energy names. by the way, lori it is upperforming the broader markets. lori: another good indicator. sandra, thanks. >>> am a long summer drought. farmers are getting into gear.

nati nagel over at oppenheimer. how nervous should the shorts be, if at all? >> think they should be nervous. when you look at jc penney, i initiate coverage with a positive rating several weeks ago and there was a point at that point when he basically says, look, there are challenges at jc penney and the sentiment toward the stock had been way too negative and they were fast to dismiss the long-term potential of the turnaround and what we've seen in the last few weeks or so is that incrementally positive data points of jc penney and the event today in texas which i'm attending will be for most investors, the first time they see this store and what ron johnson's true vision for the company is. i would be nervous if i was a short here. >> brian, you write about a few things. one, you think the challenges are transitional and you mapped out some stores and you see they tend to operate in many areas without direct competition to macy's and then you talk about the tracking, at least for the month and the quarter looking pretty good.

of oppenheimer. you have u.n. and wet traffic but he managed to come here looking as dapper as ever. carter? >> that's right. stayed dry. >> i have several charts. let's start with crude. this is a long term picture of crude. the important thing is you had the epic run up. to $150 a barrel. what is happening is you have a well defined series. of lower highs and hire lows. you are into a wedge meaning if you think the world is slowing down and crisis and all of this thing and europe is cracking up you bet down. if you think global growth will maintain and come out of it you bet up. you think the mid ills will fly in the middle east, you bet up. the point is we have reached a point of equilibrium. here is the same long-term picture of crude with the philadelphia oil and services index jux at that posed against it. look at the disconnect at this point. now at the next chart i want to show you one of the most high beta stocks within the group. same long-term charts. we have crude versus the oil service groups. versus

at oppenheimer we're talking about the new 60/40.e's portfolios are perfectly positioned for the past. they're positioned for 2008. we're still seeing 30 billion a quarter flowing into core bond funds, which are yielding negative in real terms, below inflation. that's madness from our point of view. investors have to understand that the notion of what is safe and what is risky has to be adjusted a little bit. safe doesn't mean securities that have a lot of interest rate risk and no yield. that is not what safety means to us today. again, given the plentiful liquidity and what we think is a moderate global recovery, we think it's safe to move out into more credit-oriented investments, more higher income investments. >> high yield corporate? >> high yield continues to look good in our view. it's come that lot but far from how tight it can get. there's alternatives out there. there's lots of things. people's portfolios just have to readjust. i think it's a train wreck, really. people's portfolios are just not going to get them to a secu

the always fleet of foot carter braxton at on oppenheimer. >> so two charts and one short term and one long. here is the first issue if you will with nike. this quite ominous drop in gap of several months ago. the point is when stocks go down badly like that and recover you have usually overhead supply. there are a lot of trapped people from here who did not dump there but want out. now that they want their money returned to them are interested sellers. it's only up 1% for the year. it is badly under on the market. on the long term chart it has all the flavor. of a fairly big top end. it bottoms with all equities. it's been impressive. we have seen a lot of gross stocks that start to show trouble. often that first drop in gap is the foreshadowing of more to come. we are sellers here. >> i don't know about you, but carter had me at declining smoothing mechanism. are you bearish on nike? >> it's trading up a bit. it could go a little bit lower. the other thing is that we don't see a lot of skepticism. with respect to declining margins, rising labor. adidas, we are hearing negative news f

carter braxton worth of oppenheim. >> i like to look at is apple extended? that is measured not by percentage but by trajectory. here is a year and a half of trading. these are not lines i made up. they're well-defined 45 degree angles. when you get to the bottom of a range or the top of the range you respond. importantly, you can see apple is nowhere near the top of the channel it has been in. second chart and last chart more detailed. here's what keeps healthy by my work. if apple had done exactly this 360 like this, watch my pen, and gotten to the high like that it would be in trouble but it didn't. it did this. it sold off 20% in the april and may period when markets were selling off. twice that of the s&p. that expunged a lot of people, took out a lot of people and made people nervous. that is what keeps it healthy. the trajectory, it had a nice pause. the pause that refreshes. it's not extended and i think we are heading higher as much as 800. >> thanks for that, carter. technicals look good. fundamentally it looks good, too. it's cheaper than a lot of

oppenheimer cutting them to perform from and outperforming and talking about why are they doing thisngrade saying in the near term they see the consistent meaningful sales numbers pulling back and earnings potential waning. >> walking with the intention to buy two things and come out with 20 but that is why you carry the coupons. you know you all do that and you save those coupons. here is the question. with all the negative headlines and we have asked this many times could the broader market that had a beautiful run up be due for a pullback soon. let's bring back supertrader ben willis. that is the question. if we look at dow levels and this is the 1-year pictured as a nice year for the dow jones industrials. the s&p up double-digit percentages bose year-to-date and year over year. you say it is time for a pullback but the word should comes in to play. the market should do this but will it? >> i thought it would do it sooner but we have had the hot wind effective you will. not on profs but on the equity markets led by the central bank's. mario draghi had the most significant impact

robert oppenheim oppenheimer. [laughter] can anybody else say that?laughter] [applause] >> thank you so much. one other quick thing. you were telling me earlier that you're thinking about writing your memoir, write a book. talk about that and especially the title. >> yes. today, i don't think young women are called secretaries. they are called administrative assistants. they have pretty fancy titles, but in 1946, i was only the secretary. and i think that's what i wanted to title my little memoir, because you can do a lot of good as a secretary. i don't say you're very important, but they need you here and all of you probably have had secretaries. were they important to you? [applause] >> and i also had a wonderful experience. i was a secretary at nyu, because when i needed a job, i went to eniac institution because that was my experience, and i've had great experiences being only the secretary. so if i can learn to use my computer -- [laughter] -- maybe i will write. [applause] >> george dyson. [applause] >> tonight in prime time, booktv's "in depth"

joining me oppenheimer and company senior oil analyst fadel gheit. thanks so much for joining us. if the iranians did follow through on their threat to close the strait, what is your bet what would happen to the price of oil that instance? >> they can try but can they actually do it? the answer is no. the probability would be very low. basically if we have any military action in this part of the world one would expect the crude oil prices would rise very sharply but it will be very short-lived because of why the fundamentals means oil prices should be close to 80, not close to 100. melissa: let's flesh out a couple things you said there. when i was talking to the commanding officer and as well as everybody out there in the strait they had different answers as to how long they thought the iranians would be able to shut down that little 13-mile route there in the strait of hormuz. i think they would be able to do it for some short period of time, but the conflict as you know would roil oil markets. traders need the smallest excuse to bid up the price of oil, you know that. >> yeah,

oppenheimer downgrading bed bath and beyond to perform from outperform, saying at least the next few quarters, we view the potential for outside sales and earnings at the chain as limited. >> i think a limb more beyond here. i'm not in on this analyst, a little more room to the run side. give them credit a big motto in the chicago pitch, like to say pigs get fat, hogs get slaughtered a nice run here. as long as it is above the 20-day moving average, stay to the upside. >> a weak endorsement of this call? >> yes. >> the lumber, stick and boards, lumber liquidators, raymond james underperform from market perform, the stock's current valuation seems to us to be overly optimistic. talk about valuation, up 205% the past year. >> this hitting on all cylinders, like my fightin' irish on saturday night, a smoking situation a prudent thought to book profits here. the end of the day, just a great move. i hope people are in on it. >> pigs get fat, hogs slaughtered. >>> final four trades in the metals markets made now. sharon epperson is watching the action and join us live from the nymex after

oppenheimer comes out today. >> wow. >> and says, is it oppenheimer or jeffries?nuaryinthis is unbelievabl. we thought mcdonald's was having a resurgence. they say the last two or three weeks, the first two weeks of september, three weeks. the worst for the burger sector all year. this one could give up the gain again. i mean, it had been stabilizing. you met management. i still think, i believe this this stock. but this was devastating. >> you were buying at 85 originally? >> left the stock. had a nice gain. travel trust. why did i leave it? there is no sign of a real turn. just seems they had gotten cheap on evaluation basis. this is what i most dreaded the idea september is going to be tough. >> we'll find out. >> i don't know. mcdonald's is hard to game. may not be the best burgers. that dollar coffee is sweet. a sweet deal. >> we'll get the opening bell in a couple moments. can the dream liner wake up united continental's business? we'll talk to the ceo. then the r.i.m.-pyre striking back. joined by the head of the ever optimistic blackberry maker's fan club.

you got oppenheimer cutting a stock to a perform from outperform, ubs raising the price target to 72m 66, but as a neutral rating on the stock, a little duelling analysts. >> did you see jim cramer on this one this morning? he was taking pictures at bed bath & beyond, he wanted to take pictures, they wanted to toss him out of the store. >> note to all retail stores, if you see this guy or cramer in your ayes, ma'ams, don't throw them out. not a good thing. >> i do take pictures in these stores, i like to know what's going on. >> on the ground research. it seems that microsoft can't dog do anything right lately, came out and warned that their browser has a bug that makes a pc folksily vulnerable to hackers, affects hundreds of millions of users, microsoft urging people to download free security software. still, i will throw this out you microsoft is up 19% year-to-date. >> the good news is that nobody uses internet explorer anymore. >> oh. ouch. >> i only use it when i have to go to it because something will not work on chrome or fire fox. >> there is microsoft's problem in a nut shel

technical side, carter, oppenheimer, and fundamental side, dan dicker.you make of the bp asset sale? good for shareholders or not? >> they're getting close to the bill. they've been trying to sell assets to raise money to cover the cost of the bp oil spill. that's getting -- continues to get larger. they thought they might get a deal with the feds for a $15 billion settlement. that was put under the carpet last week. the doj looks like they're going for the full monty, $25 billion in fines. bp has problems in terms of raising money. this may be close to the end of it. they got $5.5 billion to what they sold to plains this morning. that's close. they've raised $32 billion in asset sales. that's pretty close to what they need to raise to stay even. >> one of the reasons the stock is up today. carter, let's look at bp and shell and see which one you like better here. >> generally we like the big integrated but of the two royal dutch is better. long-term short which shows the crisis. royal dutch has been able to outperform. individually, if you look at the t

. >> guest: and mark oppenheimer will be interviewing them, but in part because i think, while he can be very sharp tongue to at times, dan savage, in some ways part of his charm, i also think that he understands the importance of reaching across the divide because he comes from a family like so many of us do, and you're in a family with a diverse group of people, some of whom shall be disagree or disagree to a very important things. i have large family members with whom i disagree on deeply important things. so i think that probably if people think hard about it but i'll be up to find some people lives who fit that description. and for me, reaching out to you in a friendly and thoughtful way is not that difficult. in part because of our shared commitment to elevate the dialogue, which is why we did the book together, but also there's one thing i understand as a gay man is that personal affecting doesn't always line up with societal expectation. just because society expects you to respond to some in a certain way, like people expect me to respond to women's sexual, i do. just because

on the technical side of things, carter worth, chief market technician from oppenheimer, fundamentale from morning side. appreciate your time. what's with this decision to push back the mcrib? >> i think it's more from a sales perspective. last year the company was up against -- or will be up against 7% comps in the fourth quarter and lofty 9.8% comp in the december period. i think this is a move to fill out a hole that would are been in the product pipeline back half of the year and make sales look better in the back half of the year especially against difficult comparisons. >> fundamentally speaking, how is mcdonald's doing? >> i think they're doing okay. they're kind of the victims of their own success. they've had a great three-year run where you've seen comparable store sales in the single to mid digits this year with competitors in the negative range. that will make it much more difficult for them to keep up that streak. for the first time, they're being out-comped by their peers. they're investing a lot in republican or vating stores and i.t. platform. while they're facing pre

by the way, oppenheimer says the pullback in skyworks is overdone.ough the target was lowered from $35 to $32, that's still $6 more up side. >> a little apple factoid of the day -- the global launch started in sydney, australia. they had a whole countdown just like new year's. michael kors is a retailer we're watching today. big moves there. is there stock is up 5.5%. it raised their second quarter forecast. analysts with a consensus of 36. can't get much hotter for michael kors. the stock's more than doubled year to date. zplin kr >> incredibly resilient. >> are they good? >> very nice products. not at the high en, but not at the bottom end. good stuff. >>> expedia spiking on some positive analyst talk, deutsche bank upgrading from hold to buy. cantor fitzgerald with a buy on a $64 target. expedia, like michael kors, another stock that's doubled year to date. >>> two stocks. the ticker is halo, and also viro farmer getting a heavenly boost today. >> i got to admit, i don't understand the story at all. i don't understand the drug behind this story. t

oppenheimer noting carriers are entering a seasonally strong period. grasso?ield on this one. this is a performer. if you look, they blow out the doors of at&t. obviously sprint is a way distant third in 4g-lte. you don't do yourself wrong in this space with verizon. >> today the stock getting a pop. salvador writes, i would like to know how to trade cliff natural. jpmorgan writing it doesn't think steel fundamentals are supporting a recent short covering. pete? >> points out the short covering. this is a large short interest in the name. a lot of pea were chasing after the china infrastructure story. i like the name still. i realize the short-term risk as long as you understand how tied they are presently to the steel trade. china, brazil, all the rest. i think as long as you understand it, i like it. the name can go higher. >> grasso? >> the steel names, you want to play. their marketplace is last week of november, first week of december. you get a bunch of ceos pounding the table at a conference. that's when you want to buy all the collateral plays in the s

oppenheimer taking this one to a perform, saying they have near term concerns on a stock.product cycles and outsized market share opportunities that are fading. that is reducing the earnings upside on this one. looking at it 69, down 2.5% today, carl. >> thanks a lot. >>> when we come back, we'll read some of the answers to our twitter question involving the robot. what would you design it to do for you? back after a break. ♪ [ male announcer ] introducing a stunning work of technology. introducing the entirely new lexus es. and the first-ever es hybrid. this is the pursuit of perfection. we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [ ] i'm with scottrade. a short word that's a tall order. up your game. up the ante. an

oppenheimer also the one grabbing the attention here.h and beyond and the potential is consistent and meaningful sales and growth of their seeing with earnings upside potential really beginning to wane and also bed bath and beyond will be more dependent on coupons and those that begin to the emerge once again as a significant driver for traffic. they did -- check them today to two downgrading them to a performance from out performance. ubs up their price target to $72.60 the have and neutral rating. back to you. cheryl: thank you very much. a vote on a deal to end the teacher strike in america. a large school districts may happen this afternoon. we have details from chicago. >> going to an all-time high. why investors might want to be wary. take a look at the winners on the nasdaq. ♪ forz(power!) andiamo! andiamo! (let's go! let's go!) avanti! avanti! (keep going! keep going!) hahaha...hahahaha! you know ronny, folks who save hundreds of dollars by switching to geico sure are happy. and how happy are they jimmy? happier than christopher

we're joined by krishna from oppenheimer funds. i'm glad you're here today. italy popped 4% spers.4%. they seemed to be happy what mario draghi had to say. >> they better be happy. he is spending millions and trillions to help them out. seriously the likelihood of spain readily going bankrupt or europe breaking up goes down meaningfully because of this action from the ecb. that is what the markets are reacting about. the long-term problems of relatively low growth or recession depression in these countries hasn't been resolved. that still needs to be tackled with but they're not going bankrupt. tracy: okay but it is almost a lot of nothing new, right? we heard this story before. he did come out once before, draghi, i will do whatever it takes, whatever it takes yet we haven't seen any action. we still don't have the fine details yet. do you actually think it will go forward? >> absolutely. because i think he indicated, not indicated he basically stated that the ecb is ready. there are a couple of other steps that need to happen. one is german supreme court has to opine esf and esm

oppenheimer actually cutting bad that and beyond to an outperform. and the upside potential beginning to wane and having to depend on coupons for customer traffic and such. lori: thank you as always. melissa: speaking of retailers their margins may be getting a little more cushion next year thanks to the magic touch. we will tell you how you can profit. lori: things have totally turned around. we will talk about why and how you can profit. look at the dollar. it is stronger with the euro at 130 one so that is elevated. back with more after this. hmm, it says here that cheerios helps lower cholesterol as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios ♪ [ male announcer ] how do you engineer a true automotive breakthrough? ♪ you give it bold new styling, unsurpassed luxury and nearly 1,000 improvements. introducing the redesigned 2013 glk. see your authorized mercedes-benz dealer for exceptional offers through mercedes-benz financial services. >> 20 minutes past the hour your fox news min

verizon up nearly one half of a percent this as both of their price targets were lifted over at oppenheimernd company. verizon's new share price, the target, $5, at&t, $45. iphone subsidies did drive the calls. it is seasonally strong period and if there is republican victory that could boost the company's stock prices on lower taxes and dividends. melissa: nicole, thanks so much. so could closing the spr drive oil prices lower? it may seem counterintuitive my next guest says selling it is the best thing for the country and your wallet. we have a former director of the office of energy policy at the u.s. treasury and he joins me now on the phone. phillip, when i first heard this i thought it sounded really strange and i thought about it is is brilliant. one of the reasons you say because when policy makers talk about releasing oil from the spr, it makes people nervous, it makes traders nervous and actually gives the price support, right? >> exactly right. earlier in the hour you had phil flynn talking about gasoline and he was saying inventories are low. one of the major reasons that invent

oppenheimer just reright at -- reiterated their buy. now that we have a drop in energy names.by the way, lori it is upperforming the broader markets. lori: another good indicator. sandra, thanks. >>> am a long summer drought. farmers are getting into gear. jeff flock covering the story in illinois down on the farm literally. jeff? >> lori, up close and personal on the harvest. this is a soybean field in mazon, illinois. on board the combine here and they are, as you point out, this crop is at the perfect time to pick it. so that's why they want to get in the field. i have paul with me up in the combine and, i want to say you're in a hurry to get through these fields, aren't you? because this is peak time? >> we want to get the crop out before the weather closes in. >> we're surrounded by vehicles that will transport it to market. you're talking this so i bean crop directly to market. not putting it in your own bins. why? >> the market is paying for grain now than they are next summer. so no reason to store it. >> look at the charts. if we look, to, at the one-week chart, the l

a downgrade from oppenheimer this morning.mistic getting into that report and we will see it after the bell. cheryl: noticing a nice uptick of the last couple of months periods thank you very much. the trade. oil is falling watch it unexpected. but should we see espy sometimes in? decks to the travels overseas. dennis: coming up melissa and lori look at orioles fragile feature. keep it here on fox business. for [ mujahid ] there was a little bit of trepidation, not quite knowing what the next phase was going to be, you know, because you been, you know, this is what you had been doing. you know, working, working, working, working, working, working. and now you're talking about, well you know, i won't be, and i get the chance to spend more time with my wife and my kids. it's my world. that's my world. ♪

. >>> united technologies has been downgraded to perform at oppenheimer.obably a market perform. the firm says it's no longer as enthusiastic as it was about the faster growth that had been fueled about recent acquisitions. >>> we mentioned nike earlier first quarter, $1.23, 11 cents ahead of expectations, revenue was above but gross margin could decline by 80 basis points over the quarter. >>> and finally finish line, that's not where they got the refs, right? do they wear ref outfits, too, or is it foot locker? >> foot locker. >> that's where they got the temporary refs. they reported a 49 cents share profit. they recently struck a deal with macy's to become that retailer's exclusive provider of athletic shoes. >>> do we know anything for sure about rimm, about -- we don't know anything for sure. >> what do you mean? >> i don't know. >> i still have my blackberry and i love my -- >> no, about when certain analysts did go negative and when they didn't. we don't know for sure. >> we don't know for sure. but looking back it was -- it was yahoo! finance that

. >> starbucks, oppenheimer likes the valuation. >> we need this one to go higher.ever seems to lift. >> then aol. needham says a buy. >> jim armstrong. why don't we talk more about this guy? he is the most brilliant. of course the $19 price target upgraded yesterday. wow. i like tim armstrong. i like the stock of aol. they've done a great job. >> very smart. what is on tonight? >> i have a guest to talk about the nfl, you know, normally once a goldman, baltimore gas & electric. mike jennings. this is one of the hottest stocks in the world refining. i've been begging a refineries to come on and we have one. grubman of course we have the game on cnbc tonight. big cowboys, very important game. they both lost. that's my hope. they need to both lose. can you do that carl? >> i don't think so. though no giants team has repeated as champs believe it or not. >> eagles, 1960, yeah. that was just yesterday. >> 8:30 p.m. eastern on cnbc. thank you. >> thank you. >> when we come back costco's cofounder jim sinegal live with us at 10:30 a.m. eastern time speaking tonight in cha

i told oppenheimer it would be a great mistake to use the bomb generals cities of japan. well, don't you think that if we tell the russians what we intend to do and use the bomb in japan, the russians will understand it? they'll understand it only tool well, jilad replied. brigadier general clark, who was the military intelligence officer preparing for preparing intercepted japanese cables, quote, when we didn't need to do it and we knew we didn't need to do it, and they knew that we didn't need to do it, we used them as an experiment for two atomic bombs, unquote. this is quoted in "the decision to use the atomic bomb." perowicz said i think it can be proven that the bottom was not only unnecessary but knowing in advance not to be necessary. another quote, the japanese position was hopeless even before the first atomic bell fell because the japanese lost control of their own air, commander general arnold. the japanese had in fact already sued for peace. the atomic bomb played no decisive part in the sea of japan. chester wnimitz, commander of the pacific fleet, quote, th

and as i say, i had a bright red hair coming and i got to dance with jay robert oppenheimer.hter] can anybody else say that? [laughter] [applause] >> thank you so much. [applause] >> one other quick thing. you were telling me earlier and that you are thinking about writing your memoir. talk about that, and especially the title. >> today i don't think that young women are called secretaries. they are called administrative assistance. they have pretty and fancy titles. but in 1946, i was only the secretary. and i think that's what i want to title my little memoir because you can do a lot of good as a secretary. i don't say you're very important, but they need you. all of you probably have had secretaries. birthday important to you? [applause] i've also had a wonderful experience. i was the secretary at nyu because when i needed a job i went to any academic institution because that was my experience, and i have had great experiences being only the secretary. if i can learn to use my computer may be alright. [applause] >> george dyson. [applause] the >>> a week for the convention