>> i think it put the spotlight on oppenheimer.ody to say, hey, what is your policy with regards to capital allocation? i think tim cook's management style, since taking over as ceo, with all his top lieutenants, has been basically give them a lot of rope, let them do their thing. oppenheimer has flexed his muscle in the last few weeks. he changed some of the metrics he's going to be reporting going to the street. hoe but i think this whole episode t would cause cook to say, you know, hey, i've got to get involved here more closely, because oppenheimer is really not addressing the shareholders. >> yeah. excellent. eric, thank you so much for that. by the way, cook two times now has referred to the einhorn proposal as a silly side show. amping up the rhetoric there. and saying they spent $10 billion in cap x last year, will spend a similar amount this year. although that is a small fraction of $137 billion in cash. >> yeah. pocket change. >> less than samsung spends on r & d. >> was it creative or was it creative? i'm kidding in a w

chief economist at oppenheimer fund. melissa will be fun.ou might have more fun talking with her. >> i like talking with you. adam: thank you, sir. oil futures plunged to the lowest levels of year. crude stockpiles rose much more than anticipated last week. the 2 1/2% dive was the biggest since november. it settled at $92.84. but oil's plunge has yet to break the epic rally for gas prices. they have climbed 35 straight days in a row. aaa says the average price for a gallon of gas went up a penny overnight. it hit $3.78. oil demand felt 2.4% in january compared to december. data from the american petroleum institute demand dropped to below 18 billion barrels a day. that is lowest demand for oil in january since 1995. >>> next on "money", is that quadruple expresso not hitting you hard or fast enough? a breakthrough product hopes to send energy junkies soaring. the two men behind it including one of the infamous sharks joins us exclusively. >>> speaking of soaring, a proposal from president obama could send health care costs even higher. how n

the oppenheimer producer reason t.v. thank you so much for your opinions thank you. well if you saw the us was susceptible to cyber attacks before get ready for this a new intelligence assessment by the government is beginning to reveal the magnitude of cyber attacks in the countries responsible for them they reported a case that sustain hacks are a threat to both national security as well as economic competitiveness in the past the defense industry has worried about government agencies being targeted however it's private companies and financial institutions that are increasingly at risk representative mike rogers one of the men behind the defunct cyber legislation known as cispa notes that ninety five percent of all private sector networks are vulnerable to these hits many of already experienced an attack but are reluctant to step forward to sorties or if they're afraid that it's actually going to hurt their shareholders in fact some estimates put the value of information stolen and around four hundred billion dollars per year now on the other hand privacy advocates

to discuss i was joined earlier by tracy oppenheimer a producer for reason t.v. i began by asking her how dorner still has supporters even though he's suspected of killing four innocent people. his manifesto detailed a lot of problems that he had with the l.a.p.d. i think what was so comforting not comforting but the thing that the instances described in the manifesto that the supporters really backed him on are things that the l.a.p.d. that were already suspected about the l.a.p.d. and it's confirming these preexisting notions that people have about the l.a.p.d. so we don't know whether his manifesto is factual his claims are factual but i don't think they came as a surprise to anyone and i think that's why people have gotten behind him it is a minority of people and i don't think there's any doubt that what he did i mean he's murdered four people now very tragic and i think it's unfortunate that he has these backers but i don't think it's all that surprising certainly there is no justification for killing innocent people but i want to ask you tracy what do we k

robert oppenheimer, who had been selected to lead the project and oppenheimer new new mexico ended thate had come here is a boy and spent summers at the ranch school in los alamos. he thought i would be the perfect place to do his secret project. he is very well respected and educated scientist who has fled nazi europe and they were recruited to work on this project. so they rode the train out here. they were met at the station and driven into town. they would have checked in at the store which was supposed to look like just a regular tourist store in santa fe. it was operated by a man -- woman named dorothy mckibben that oppenheimer had personally recruited and she gave them instructions. los alamos was guarded with a secure perimeter and they wouldn't be coming back to santa fe that often but if they did come, that they were to use not their own names and make up some kind of a name and not say very much at all because they all spoke with an accident. they managed to build the bomb and helped in the war earlier. but they definitely had an impact on santa fe. there were rumors about nu

oppenheimer is positive on the day. >> indeed it is.one is tanking for the day. >> if we did disaster de jour today -- >> this would be it. >> this would be it. you see a quarter to 57 cents a share. you got four analysts downgrading the stock. at least four minimum that i counted. however, one firm, compass point upgrading verifone, and they like the plan it raise spending. a bold call it is. you probably have not heard of this next company but it is fast becoming a small time heavyweight in cloud computing. it is called data direct networks. it helps big corporations store its big data. it is also valued at about a billion bucks. ceo and foe founder joins us now. alex, tell us how your 2013 is shaping up. >> oh, it is actually fantastic. first of all, thank you for having me on the show. the year is looking great. we are seeing significant expansion in the markets we serve. which runs across section of everything that big data and cloud encompasses. >> you know about a hundred meg extra hard drive, alex, used to cost about 300 bucks.

as a declaration from oppenheimer, the cfo of apple, not what einhorn wants to hear.g in this suit that it can still issue preferred stock if shareholders vote on it. einhorn seems to believe it is the elimination of preferred. so, a lot of stuff in here but apple firing back at david einhorn, maria. >> thank you so much. tomorrow is valentine's day. will the markets have a reason to pop or swoon at the open? wall street's finest weighs in next. we've completely integrated every step of the process, making it easier to try filters and strategies... to get a list of equity options... evaluate them with our p&l calculator... and execute faster with our more intuitive trade ticket. i'm greg stevens and i helped create fidelity's options platform. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger t

and robert oppenheimer who had been chosen to lead the project, and oppenheimer new new mexico and knewsecluded plateau because he would come here as a boy and spend summers at a ranch at los alamos and thought that would be the perfect place to do the secret project. so at it very well-respected and educated scientists who had fled nazi and fascist europe and they were recruited. they were met at the station and driven into town, and they would have checked in at this store, which was supposed to look like just a regular tourist store in santa fe. it was operate bid a woman named dorothy mckin nonwho oppenheimer recite, and she processed their paper work and gave them instructions, and los alamos was guarded with a secure perimeter and they wouldn't be coming back to accept the that often but if they did come they were to use not their own names, make up a name, and not mention their name at all because they all spoke with thick european accent. so they managed to build the bomb and helped end the war earlier. but they definitely had an impact on santa fe. there were rumors about spies

robert oppenheimer, who had been selected to lead the project for the scientific point of view.ppenheimer new new mexico and the secluded plateau because he would come here as a boy and spent summers at los alamos in that i would be the most perfect place to do the secret project. it's very good and educated scientists have fled and recruited to work on this project. so they trained out here. they were met at the station and driven into town. they would've checked in at this store, which was supposed to look like just a regular to restore and santa fe. it is operated by a woman named dorothy indicated that oppenheimer had recruited and she processed their papers and gave them instructions to go to los alamos, which was started with a secure perimeter, but they would be coming back to santa fe that often. if they did come, they were to use not the road names, make up some kind of the name cannot say much at all because they all spoke with accents. they managed to build the bomb and helped end the war earlier. but they definitely had an impact on santa fe. there are rumors about s

it is operated by woman named dorothy mccabe and that oppenheimer personally recruited.rocessed papers david t. doing los alamos. it is guarded with the secure perimeter that they would come back to sanitize that off it. but if they did come, they were to use not their real names and not say very much at all because they all spoke with thick european accent. they managed to build the bomb and helped end the war earlier. they definitely had an impact on santa fe. there were rumors about spies, nuclear secrets being traded to the russians that we know now that was done here in santa fe. another but it is very close to my heart. it's an older black, but it too is nonfiction. it is written by peggy thomas church. it is a more important note and a more representative spoke in terms of taking them lots of aspects of new mexico's history and culture, how we are land of stark contrasts and contradictions in the old e-mail. so that's why seeing it addresses others issues. more than 109 east palace, which is very specifically about the project and the people who were involved in t

with oppenheimer funds. thanks so much for joining us. >> thank you. ashley: thank you.g up the dow just hit another session high. so what's going to keep this rally going? we've got a strategist weighing in what he says the most important factor shaping the market right now. ashley: first look at some of today's winners and losers on the s&p as we head to the break. >> announcer: you never know when, but thieves can steal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they can open bogus accounts, stealing your credit, your money and ruining your reputation. that's why you need lifelock to relentlessly protect what matters most... [beeping...] helping stop crooks before your identity is attacked. and now you can have the most comprehensive identity theft protection available today... lifelock ultimate. so for protection you just can't get anywhere else, get lifelock ultimate. >> i didn't know how s

peter oppenheimer still around the table here. earnings, does anything matter other than what we were saying earlier about monetary stimulus? >> i think earnings do matter and this year we expect earnings to be rising even in europe. they fell moderately last year and the year before. and that recovery in europe we think is largely driven by a pick up in floebl growth. we were discussing before about how european economic activity itself matters less. >> what are your favorite sectors here? >> we like insurance. we think it's a relatively safe way to play exposure to financials. less regulatory risks, more positive drivers to earnings. they're a positive beneficiary, rising bond yields and -- >> but if we take, for example, german bunds to keep rising? we're starting to see even as they inch back towards that 1.7% level, they retreat, whether it's a sell-off here. >> well, there's huge demand still for bonds and that will limit the extent to which bond yields rise. on the other hand, we expect growth, particularly in germany, to p

we're going to be hearing from brian nagel from oppenheimer about these results. and what to make of the retail sector after yesterday's sell-off. >> stocks open higher now. >> it's higher? >> yes. >> the global markets focusing on italy this morning. silvio berlusconi's center left rivals won parliament's lower house but they failed to win an absolute majority in the upper house. berlusconi has ruled out an alliance with former italian prime minister mario monti. he argues the election results reflect popular discontent with austerity measures. >>> and cnbc contributor gem ma godfry is going to join us to tell us what this all means for the market this morning. >>> getting a better idea of the budget cuts due to kick in at the end of this week, several budget agencies are speaking out on the potential impact and more speak out today. communities around the country, of course, bracing for the impact. minority whip steny hoyer is going to join us in just a bit to discuss the possibility of avoiding the sequester, which i'm sure, the possibility of that anymore and

be destroyed have been looking for a loss home depot also up nearly 2% following an upgrade from oppenheimer with the market up sharply today, does this mean that that selling is over? what should investors look for next we? we have a number of potential catalyst summarize in. we always seem to. less restrictive the floor show. let's begin with keys. interesting. we have seen buyers come back to the market today on lighter volume than the sell-off. we have that italian election. ben bernanke going before congress. >> yes. i think a sequester, a little bit overdone and overnight. and not sure that will be a real market moving. there are an awful lot of economic data points. and while we're going to get the advanced reading or the plot -- preliminary reading of the gdp in some other things will be looking at, it is really durable goods. the productivity figures that i will be looking at. a couple of items to look at, not only s&p 500, but the russell 2000. that broke support and could trade all the way down to its overall horizontal support around 867. rebels also that coinciding with the s&p

oppenheimer raising the price target. obviously not too far from 55. still a ways to go. have to outperform rating. finally marathon petroleum. also hitting a new high today before pulling back like the rest of the market. shares of more than 30% so far this year. we don't just complaint here on "countdown to the closing bell," we give you. speaking of which, what is happening? just wrapping up its conference call. was bill asman able to get in a little question? >> is analyst tried. his main analyst, as you know, massive short. says it's a scam, a pyramid scheme. we should point out they came out with better than expected earnings, retracting sundays a new investors, long investors. obviously denying what they say. they're doing a stock buyback. shares are down, but here's the interesting thing. this always happens in companies that are controversial. let's face it. a company which gets a lot of money from distributors. if you don't get customers and you just have distributors at some point the distributors dry up and they stop paying you fees and guess what, shares go d

stephanie oppenheim is here from toy portfolio with her choices. >> classics with a twist., right? this is new and make mees happy because i love hot wheels, too. you're able to make your own hot wheels. pick your color wax, put them in. seven minutes later after it's totally cool, it will emerge. >> are you serious? >> like a press and a mold? >> and you're good to go. >> this is a car painter? >> car maker. there we go. marble runs i love. this is from happy, new accelerator. this is the type of toy that gets handed down from generation to generation. it's an open-ended puzzle. you can work on this together. a good one for vacation days like today. >> drop it in here, that's it, huh? >> there you go. you can make it however you want to make it. >> all right. >> that's a little pricier. this is from hex bugs. they now have little extra -- now that they will go down the tracks and up the tracks because of it. >> vibrating, is that we're doing? >> yes, hex. there we go. very cool. now conception toys -- >> hey, hey, hey, you know the money you could make with this? >> steve!

he's with oppenheimer.n the fundamental side it's john stevenson with first insight investment management. carter, what do you think? you don't like either do you? >> i'll say which analyst to listen to, don't listen to either of them. >> ouch. >> the thing is here, look. these are big tech names that are doing well. big tech in general are doing poorly. microsoft, intel, apple. it's too much of a good thing. google bounced from 650 back to an all-time high at 770. that's 20% in two months. i think you fade that. and really with yahoo, it's the same thing. this thing's shot the moon. it's 16.21. do you buy or sell stocks. i think history shows you're better to trim something like that. >> the charts don't tell the whole story here. >> there's always the fundamentals. >> yeah. john go ahead. you like both these companies, don't you? >> i think they're both good. you have to go with the analyst on the upgrade. these are extremely come mettive valuations. it's got one of the best franchise track records in ter

on the technical side it's carter worth with oppenheimer. on the other side steve cortez.lease. >> sure. we don't like either of these. one case it's one being so darn good and the other so darn bad. if you look at these two stocks compared to the sector in which they're part of, of course google is literally tripling the performance while microsoft is virtually unchanged. the individual charts have their problems. one being extended too much. the other being sick. looks at though it's going to fall out the bottom. let someone else buy both of these. >> okay. steve? >> carter, i agree with you on google it is extended technically. i wouldn't be a pier here. i do think microsoft, though, is interesting here. it's been a boring stock. but i think in a world of danger right now, boring is beautiful. and fundamentally mike so ro soft offers several things. a significant dividend. it has a 3.3% dividend yield. the 10-year treasury yield today is well below 2%. i think that juicy dividend is worth something. if anything, it's going to increase from microsoft. looking to the futu

both bank of america, merrill lynch and oppenheimer say jpmorgan should outperform its pierce in theext few years. piers. generous of them since they're one of them. there are tighter calls for regulation on the industry and much discussion abouu the idea of breaking up the big banks. here to talk about all of that and forecast what jpmorgan's own data indicate where the next rebound will be is jamie dimon, chairman and ceo of jpmorgan. along with chase executives, you remember them, ryan mcinerney and chase summers. thanks for being here. >> good to be here. melissa: are you having a good time on bus tour. >> we love the bus tour. we thank them for what they do. it makes us all proud of our people and our country. travel around get out of washington and new york it is an amazing country. >> speaking of washington there is lot of nonsense going on with the sequestration. seems like we're a million miles away from that on the eve when dramatic cuts are supposed to go into effect? does it concern you? what is the impact going to be? what is your reaction. >> i wouldn't call them dramat

and, did you run this by peter oppenheimer when you were talking to him? did he give you the wink, wink, the nod, you may be on the right track here? >> yeah, that doesn't happen. but ultimately -- >> if it did? >> yes. but at the end of the day, apple's a company that generates roughly $40 billion of free cash flow or net income. we make the claim they're a mature company now. it's basically very quickly made the migration from a growth story to a value story. when that happens, return to capital -- capital allocation return to shareholders becomes paramount to your returns. we make the case that apple should basically give back 50% of its cash flow on an annual basis to shareholders. we recommend two-thirds of that go to dividend. one-third go to share buy-back. so, that would imply $60 billion returned to shareholders over the next three years, versus already defined plan of $45 billion. so, that would equate to 300 basis point dividend yield and roughly buying back about 15 million shares, or 1.5% of the float per year, so, we think that would be the o

but is offered by a woman named dorothy mckibbin that oppenheimer had a person recruited she processpapers and gave him instructions. they would be going up to los alamos and, which was guarded with a secure perimeter that they would me perimeter that they wouldn't be coming pakistan to fight that often, but if they did come, that they were to use not their own names, make up some kind of a name and not very much at all because they all spoke with accidents are they managed to build the bomb and helped end the war earlier. but it does have had an impact on santa fe. there were rumors about spies, about local secrets being traded to the russians. and we know now that that was done here in santa fe. and other book that is very close to my heart, i want to tell you about, an older book but it, too, is nonfiction. it is the house -- it is a more important book and a more representative book in terms of taking in lots of aspects of new mexico's history and culture. how we are a land of stark contrasts and contradictions. in the old and the new. and so that's what i think that book address

joining us now from new york, brian nagel oppenheimer company senior equity research analyst. >> gooded pretty much across the board and yet, profits did fall 11% year over year. what do you make of it? >> i think it's a good report. there's a little bit of noise in the numbers, given the 53rd week in 2011, so that profit decline you mentioned was very much expected. i think the numbers here to look at. they did 26 cents. the street was looking for 23. so they beat by three cents. probably the most important thing, they did a 1.the% comp. if you look at the amount of stat basis that assumes a pretty nice acceleration from the third quarter levels. >> we're seeing the stock up 2% in premarket. is that a function of the $5 billion buyback? >> no i think it's more momentum in the business. lowe's said for awhile now they'll be buying back a lot of their stock. so the new buyback announcement today is basically a reflection of that. that's not necessarily new news. with the market concerned here with lowe's is just sales acceleration. you're seeing now this is the second quarter we've see

today getting an upgrade from oppenheimer. now matching its ratings for lows.ng the price target for both of them seeing they're seeing demands, possibly accelerating. we're getting a lot of on the one hands, and on the other hands in terms of these stocks. >> that's such a great point. part of the note here is you could look at other stocks and say that, wait a minute, walmart, you could look at that, look at some of the other names and say, wait a minute, others are saying the spending back drop is not good for the discretionaries. >> your pipes break, you'll go buy another one at home depot. >> the consumer, that's discretionary, they don't even know what discretionary is. the thing that -- yesterday you had a great discussion about home depot in your show. stephanie link said, look, reports, the stock has had a big run. even if it is great, it may not be enough. we saw a lot of that. toll brothers is great. but was it enough. and toll, up -- what i'm saying is, i'm not calling all fear. you just don't want to call all fear. you just want to call all mixed.

on the other hand oppenheimer is saying these taken prices need to come down.ll on this one. stuart: that nothing that many people own buffalo while the wings stock, but i think a lot of people traded. a lot of a trader interest in that molotov rest rostock. i am calling the response to the state of the union message very effective. i think he won the head-had matchup with president obama last night. does make and kelly agreed? we will ask a right here on the program attend 45:00 a.m. does she think of that famous drink of water is a big deal? we will ask. right now, i'm going said rich edson on capitol hill. now, president obama c'mon going to say he is the campaign trail today. where a ceiling, what is he going to say, and to whom is he speaking. >> reporter: asheville, north carolina to make heavy-duty engine driveline components to mature the factory, give a speech, workers there, and this is the administration highlighting of the president's manufacture proposals. this issa place that manufacturing facility, the white house says brought back manufacturing

brian neagle joins us, senior equity research analyst at oppenheimer and co.g. >> so you're prepared to step in front of this or advise people too do so? >> well, look i have an outperform rating here. my call on jc penney, behind all this noise, and there's a lot of noise out there right now, i think there are actually signs this turn around is beginning to work. i think over the longer term, a more profitable, higher return on capital jc penney will emerge. the near term is very difficult to call. i write a lot about this to our clients this is a sentiment-driven story. frankly, i agree with the market right now. a lot of reasons not buy jc penney. >> sharpest drop in sales since announcing transformation 13 months ago, three brokerages cut their price targets today partly because there is 1,000 basis point dees klein in gross margin on the quarter, as they desperately discounted to get rid of the stock that nobody wants to buy. >> yeah, so i look at that look, i think -- that's why i talked about the noise of these numbers, no question, jc penney struggled