and qualcomm is well-positioned in the smart phone business. teba has had a recent hiccup, stock prices off because of some concerns in their genetic business. we think this is overblown. this is a company that can grow over 15% a year. >> tom: one minute left, and i want to look at bank of america and jp morgan. two of the biggest banks, and they're being impacted in some way, shape or form by financial regulation. what do you like about these two stocks. >> first and foremost, we're longer term investors and we're looking at a couple of years. we see the credit cycle continuing. we don't think interest rates are going up any time soon. in fact, the fed is probably going to stay lower longer than most people think. those are conditions that should make these companies perform well as businesses. valuations are attractive. we see these stocks with the potential of doubling based on normalized earnings two years out. so they look like very good bets to us, particularly if dividend increases are discussed later this year. >> tom: looking for a do

and qualcomm was up as much at 4%. starbucks, though, fell after hours by another 3%, after a fraction loss during the section. financial shares led the way lower for the broad market. there were a couple of standouts, morgan stanley and well wells fargo. unlike competitors, it's trading business was a bright spot. the c.e.o. at morgan stanley thinks earnings will be choppy over the next few quarters. wells fargo, the stock here a fractional gain, but on heavier volume. similar to other banks, it cut back on the amount of money it is setting aside for bad loans. the weakest financial stocks included s.l.m., and regions financial. sally mae raised its profit forecast, but also set aside more money to cover student loans going bad. technology did see a mixed bag of earnings today and reactions. e.m.c. turned in better than expected earnings. it's forecast was better than anticipated as well, but by how much remains to be seen. and that lack of clarity sent shares sliding. the stock dropped by almost 4% down to a tw two-w

keep an eye on qualcomm today. strong smartphone demand helped the chipmaker's quarterly earnings and revenue beat estimates, sending the stock up after hours. and ebay was climbing after the bell, bettering quarterly profit expectations, thanks to a record performance at its paypal service. >>> and, finally, in these dog days of summer, even our four-legged friends need to beat the heat. the world's first ice cream truck for dogs opened saturday in a london park. expected to be a big seller, canine cookie crunch, vanilla ice cream sprinkled with dog biscuits. >>> well, the astros win in extras, the cards are on a roll, and the rookie phenom strikes again. >>> plus, every once in a while the ball boy makes the highlight reel as well. your early morning sports headlines are straight ahead. >>> the southern half of the nation continues to bake in our july heat wave. your thursday forecast is coming up. you're watching "early today." >>> good morning. if you're just waking up, this is "early today." and in sports, mor