ended up being in san diego and get something do with irwin jacobs, the founder of qualcomm. >> guest: yesterday was very fortuitous. the origins of the story are a company called link of bits which irwin jacobs and andrew, the cofounders of qualcomm started a third guy named jerry heller who really was the father vision of digital tv was also with link a bit. they were spread out at first because as a part-time consulting endeavor. irwin jacobs was a professor at ucsc. andrew was a professor ucla and jacobs had been a ph.d thesis advisor at mit. they were both mit ph.d's. and abroad and jerry heller to be the first full-time engineer at length about it is that my house in l.a. but before he closed the next day irwin jacobs made a sudden decision that is going to leave usc s. as a professor and also join link a bit as a full-time employee. so instead of buying this house and l.a., they moved down to san diego and then later andrew moved down and the three of them made link a bit with one of the pioneering companies in digital communications. then what happened later was another big ea

ended up being in san diego and it had something to do with the founder of qualcomm. marc: yes, it was very fortuitous. story is a of that company called -- which irwin jacobs and the cofounders of qualcomm started, and a third guy named jerry heller, who really was the father and visionary of the tv. they were spread out at first because it was a part-time consulting endeavor. andrew was a professor at ucla. jerry heller was an engineer at jet propulsion lab in pasadena. jacobs had been the phd advisor at m.i.t.. they brought in jerry heller to be the first full-time engineer. he was about to buy a house in l.a. before he closed the next day irwin jacobs made a sudden decision he was going to leave asa professor and also join a full-time employee. jerry will move to san diego. they were one of the -- one of the pioneers of digital communications. at that juncture jerry heller state with g.i. in san diego. that is when the whole digital tv thing started. a you think of san diego is munication center you have andbs starting qualcomm jerry heller staying with g.i. but e

you can see sky works, qualcomm, 83% of sales come from asia and china in particular.qualcomm, broad come, john phan, should i keep going? a multiyear low yesterday. that is because they import raw materials and we sat otted -- the apple get hit hard. >> anybody who counts on any big sales in china coming down brands, feeling the pain from this. lauren: some people also speculate one of the reasons for them is to export their struggling economies get ahead of this has left off and had a stronger dollar. i should've mentioned that earlier because that is front and center as well. >> every other company is dancing are profiting now it's only going to watch. today china's largest e-commerce company reports quarterly results. you are going watch that for us. lauren: bolster the likely be disappointed when alibaba root port earnings. net income expected to fall by 57%. serious with a cat in particular. are they paying off? $4.5 billion into an electronics retailer and then a billion dollars into a food delivery company. then there's the whole regulatory pressure from the ch

qualcomm is looking to dthe skis for its next opportunity.y're looking at the growing market for consumer drones. by putting it's chips in the air it believes it can cut hundreds of dollars off the price of entry level drones which start at about $500. re/code says they have been meeting with drone makers and bought a flight software company. >> let's talk about uber. they're expecting to reach $10.8 billion this year rising next year. this according to an investor presentation seen by reuters. the ride sharing app could have worth $50 billion in the private markets a cording to some analysts. >> could be between clinton, trump, and deez nuts for president of the united states. one unscientific poll gives a 15-year-old boy from iowa 9% support. he's unofficial the most popular independent candidate for the white house. and that's not all. he hit the number one top trending spot in the twittersphere. >> i haven't seen that yet. i need to google. >> it's a tale of two tech companies. another disappointing quarter of falling revenues while sales

guest: it is enormously important for apple and qualcomm. china is 12% of their revenue. the devaluation is going to reduce apple's revenue in dollar terms by $30. how does apple compensate? it has to raise the price, which is difficult to do because they were at the top of the market and they are facing competition, or the business becomes less profitable for them. the additional problem is the chinese economy is slowing. we are in a bad period for luxury consumers. they are selling between $900 and $1200. these are luxury products. apple needs to penetrate more markets in china. they're going to have trouble selling those phones pretty have been selling well in beijing . emily:. china accounts for a quarter of revenue as far as june goes. let's talk about what it could mean for longer-term demand. the iphone is $300 more expensive for consumers. you have the smartphone market saturating. could that kill demand? consumer demand for iphones in china? guest: sure. it depends on how the chinese economy performs. there a big question marks there. the chinese equity market is

and qualcomm. they will receive $71 million including $75 from the defense department itself. emily with dr. malcolm thompson. emily: thanks so much. thompson. creo of the former xerox. dr. thompson: that's right. emily: give us us some real examples where you're working with military applications. >> imagine putting a very thin film of electronics all over an aircraft wing, ok? you stick it to the outside of the aircraft wing and it measures stresses in the wing. now, you look at the plane when you're on the plane, the wing flaps. so it better be flexible. emily: so when might we see something like that. >> very soon in the next year or two. there are some examples we saw in the announcement where the air force brought some wings with some of that stuff on it already. emily: they talked about incorporating sensors into military uniforms for example. a company like apple is part of this partnership. what is a company like apple contribute to this? >> you know, every company contributes different things. what it helps to understand is what their customers are wanting and what t

broadcom is 50% of its exposure to china, qualcomm about 50% as well. up the heavy socks, freeport-mcmoran heavy volume, alcoa and caterpillar as well today. >>> one reason energy has been improving is the refiners, oil is down 4%, brian. gasoline is flat today. that means more money for the refiners and here is one of the few areas of green that you're going to see all throughout the day. holly, valero, tesoro to the upside. >> great stats, back at you buddy, thank you very much. >>> semiconductors are one of the worst performing industry groups this year. obviously china a big part of the story. is it time for your money to invest in a turnaround in the semis? we bring in the trading nation team, erin gibbs and stacey gilbert. stacey, you look at the options market. what is the options market saying about the prospects for a turnaround in semiconductors? >> i would argue that both the options and the etfs are arguing it's more cautiously wait and see. so why i say cautious? if you look over the last five days when the semietfs, about 65 million outflo

hub is made up of 162 companies like hp and qualcomm.will receive $171 million funding putting $75 million from the department of defense itself. emily chang is with dr. malcolm thompson. emily: dr. thompson, thanks for joining us. you are going to be running this new center. you are the former cto of xerox. using a number of technologies developed over the years, probably seen the relationship change between silicon valley and the government. give me some realistic examples of where we will see what you are working on in military applications. >> imagine putting a thin-film film of electronics all over an aircraft wing. you stick it to the outside of the aircraft wing and it measures stresses in the wing. you look at the plane and the wing flaps. it better be flexible. emily: when will we see that? >> very soon you will see some thing like that, in the next year or two. there are some examples we saw in the announcement when the air force brought some wings with some of that stuff on it already. emily: they also talked about incorporati

qualcomm, which does more than 60%, and texas instruments with 44%. overall, though, the s&p 500 has only 2% of its sales at risk in china, which leads to an interesting debate. just how much the lowered yuan will influence the u.s. federal reserve. some believe it will be a big factor. >> i think they are going to hold. i think this make it is much more likely that they are going to hold. >> others, not so much. >> i don't think the federal reserve will back away just because of this one event. anything could happen between now and the end of september. >> i don't think it really changes the equation. the fed will be making monetary policy on the basis of u.s. conditions and because of u.s. policy needs. >> so the real question may be just how much devalued yuan will affect the u.s. economy. and today the u.s. treasury said it is too early to judge the implications of china's currency devalue situation but the department will continue to press china to move towards a market oriented exchange rate and any reversal from that would be troubling. >>> wel

qualcomm has problems. in the apple food chain, whether it's nxp or skyworks or cirrus, you know, they all had good quarters and they guided higher, but apple didn't hit its units and it got a lot higher units to hit coming forward in the fourth quarter than they got planned. and this is not exactly an exciting new phone potentially. so again, there's the equipment companies. there's a lot to do and it may -- there may be more to do. we have to see how this evolves. >> i want to bring this back to your fund in the time available. you've been on the sidelines for a while. you've come on the show while you've been on the sidelines. finally you're back and you say you're going to launch the fund. this launch is going to happen in october, correct? >> i'm shooting for october 1st. >> you're shooting for october. okay. can we extrapolate, bill, then that you think sometime in the fall the markets as a whole are going to be weak? >> yes. >> okay. >> yeah. i mean, if it wasn't for the logistical problems of gettin

qualcomm, paypal, ibm, all down over 9% in just 30 days. david katz and eddie merkin.sing this weakness to buy any of those companies? >> if you look at the technology sector, there have been the haves and the have-nots. the haves are the facebooks, googles, netflix. the have-nots are the ones you mentioned -- ibm, qualcomm, companies that have long good-term prospects but have been beaten up pretty badly. we'd pick up some of those high-quality names that are out of favor. we like qualcomm here, microsoft we think has done a great job turning the business around. you are getting it at a very good valuation. they should be raising the dividend this month. we would be buyers but understand that you aren't going to get a quick recovery. you need a change in sentiment. that's really a 3 to 12-month time horizon. >> eddie, why do you not like ibm? some calling it a value play. >> i think ibm is in the ha have-no have-nots. in technology we spend a lot of time debating what's the best approach. i think in the tech sector you want to favor some of these mega trends, whether

vo ---en qualcomm stadium juego entre los chargers y cowboys...ra anotacin de danny woodhead quien est de regreso despues de perderse la temporada pasada con una lesin... ---despues brandon oliver corrio 10 yardas para para poner a su favor... ---y de ah no soltaron la ventaja... el marcador final de chargers 17 , cowboys 7. vo ---pasemos a bisbol... despues de ir perdiendo uno a cero, los gigantes empataron gracias al sencillo de matt duffy que sigue remolcando carreras y despues tomaron la delantera en la misma entrada cortesa del sencillo de buster posey... ---de ah no se hiciero daÑo hasta la septima entrada para agarrar una carrera mas de colchon y dejar la pizarra final de gigantes 3, nacionales 1.. ---vogelsong 5 entradas, 8 ks, 3 h, 1 er lorena - 3shot --en "italia" la espera de unas tortuguitas lleg a su fin. take vo tortuguitas lleg a su fin. take vo --esta semana cientos de estos animalitos salieron del cascaron para rapidamente intentar llegar al mar. juan fran- cont. vo --bilogos marinos estuvieron presentes para asegurarse que stas s

dallas en san diego qualcomm stadium gabriel ahora nos vamos con los quepos del area de la bahia dondeo. take vo vo nuevamente una sola entrada de daÑo basto para que los de casa lograran la victoria esta vez anotando cuatro carreras en la parte baja de la segunda entrada. con este triunfo toronto logro la barrida en la serie de tres juegos. ahora lo que sigue es una serie de cuatro juegos en baltimore antes de regresar a casa para abrir una serie ante los dodgers de los angeles. vo en la liga nacional los gigantes de san francisco hoy abren serie ante los nacionales de washigton. el actual campoen la ha pasado mal ultimamente perdiendo cinco de los ultimos seis juegos con lo e se encuentra la momento a tres juegos y medio del liderato de la division de tras de los angeles y a cuatro juegos y medio del ultimo comodin en la liga nacional de tras de los cachorros de chago. vo en la major league soccer los san jose earthquakes estan buscando su primera victoria en mas de un mes cuando enfrenten a colorado este viernes en avaya stadium en su ultimo compromiso terminaron perdiendo el partid

qualcomm even as they have been scrambling to hire foreign workers.orkersare the workers themselves somehow indentured servants? lack of native americans dimmesdale skills. big bigskills. big news, immigration. here is the thing. you pay these people not a lot. we had ron howard who has done a lot of work on this. this. typical worker is paid 20 to 45 percent less. >> no question that it will drive wages down which is basically what has happened. we know that these companies are struggling to hire all the people they need on the other hand. efforts to increase parental leave and things like that that have popped up in the tech industry over the last couple months very much attest to the fact that this is a tight labor market but there is no question there's a crony capitalism issue. charles: according to the census department 74% of graduates do not work in the stem field because they cannot get paid what they are paying foreigners. >> there are benefits to having the program. it is being abused. massive layoffs. while disney did this just last year.

companies we talked about qualcomm and sky works at apple in so many companies doing business at disadvantageerall both parts not happy about what they are singing. sandra: trump has been on not one for a long time. he can claim he didn't just jump on. he's been talking about that for some time. as they look at trading over in asia, markets closing higher after beijing was to devalue the chinese currency for a third straight day. in europe, stocks angry embarrassed while that takings in france of 1.6% gain on the cac. u.s. stock market futures looking like this right now. still searching for direction in early morning trade. we will get a check of consumer spending later this morning. retail sales for july. it was a good weather month. does not name -- lauren: parents get kids ready for school and amazon prime day in the middle of month. is the economy doing better and are we spending more money? retail sales report is due out an hour before the market opens. looking for retail sales to drop half of 1% in july. they fell in june. certainly report the federal reserve is watching. are they goin

vo ---en qualcomm stadium juego entre los chargers y cowboys...ad quien est de regreso despues de perderse la temporada pasada con una lesin... ---despues brandon oliver corrio 10 yardas para para poner a su favor... ---y de ah no soltaron la ventaja... el marcador final de chargers 17 , cowboys 7. juan fran - 3shot --hoy... cientos se congregarn para intentar recrear el popular beso de "times square". take vo --hablamos de este en pantalla... plasmado en una estatua que reproduce la fotografa tomada por "alfred einsentaedt" en 1945. lorena - cont. vo --esta tradicion se ha venido realizando desde el 2-mil cuatro... y convoca cada aÑo a parejas de todas partes para darse un apasionado beso que sin duda resulta inolvdiable para todos ellos. lucrecia - cont. vo --como ya es costumbre, el evento se llevar a cabo en "nueva york" hoy mismo para commemorar el setenta aniversario del fin de la segunda guerra mundial... rostro de la mujer que presuntamente cay en las aguas de la baha de san francisco... las autoridades buscan dar con su paradero. take vo

microsoft, qualcomm and panasonic cutting jobs.y sees an opportunity for his new mobile devices. joining us is john sculley, the co-founder of obi world phones. welcome to you. >> thank you, kelly. >> why do you think this is a time to go big in a market that appears to be maturing? >> it's actually a very interesting time. if you are building a design-led company and silicon valley is known for that, companies like tesla, apple, beats, all built beautiful products, but at the high end of the market. why not take beautiful design and target the low end of the market where growth is really occurring in the fastest growing countries around the world? yes, it slowed down in china. 1.2% growth. yes, there are lots of lay-offs by many of the big traditional companies. they have outdated business models. we are doing it with a lean business model. we launched our phones last week in silicon valley. people were amazed how much technology we got, $700 comparable products $499. >> let's show your product. we can compare it in terms of look

netflix, facebook, qualcomm and microsoft seeing significant losses.flix has been the best performing stock on the nasdaq 100 so far this year. it doubled in 2015. some investors coming in. you can see the stock losing about 7% in yesterday's trade. it wasn't just tech. bio tech also a big underperformer. celgene was down double digits and then recooped losses ending down 4.7%. i would say that the nasdaq bio tech index despite the recent losses is still up about 7% year to date. >> it's definitely been one of the outperformers along with technology. >> that's what helped the nasdaq reach the new highs of, what, 5,142 but of course has now come off those highs. >> all right. south africa. you're quite excited about this. >> i am. i am. >> please go ahead. >> south africa second quarter gdp rating is out later on today. it's expected to slow to a half a per cent in the second quarter. peter is still with us. emerging market economist, what are your expectations for south africa's gdp. it comes back to what you were talking about now around china. econom

and other companies include qualcomm and intel. telecom companies would pay it for the internet access and then resell it to airlines or customers in remote areas. most importantly, oneweb has been given the green light by international regulators to reuse the necessary spectrum and ceo greg whiler says anyone else who wants the spectrum like spacex has to get in line. >> they reuse spectrum, sure. we have the geooperators have a clear slice of spectrum or method of using it, we have the next in line method of using it and someone can after oneweb in a manner that doesn't interfere with geosats, doesn't interfere with oneweb. go that may be up for debate. it may not be who has filed first, but who actually gets their satellites up first and coordinates with everyone up there who has priority. and spacex might do get up there first. it's hiring for its brand new satellite division it's opening in seattle. google and fidelity have invested $1 billion in it with spacex. and spacex has its own application before the fcc right now to us

. >> i want to talk about qualcomm. microsoft has announced the cut of 8,000 employees.oth companies talking about had h-1b visas, they want more foreign workers to be brought in. this is outrageous, is it not? h-1b sees sass are supposed to be highest level and also maintain wages. it is not the case and we've got to turn it around, right are dr. laffer? >> it reminds what congress used to do, they used to pass specific pieces of legislation allowing friends and a neighbors to bring in immigrants from abroad. if this isn't used for adding to the technology of the u.s. there's no reason these people should be given special preference over other people. >> do you know what bale gates testified -- >> not really. >> he it testified on this that he was asked how many of these visas should be permitted? he said to infinity. i mean, that's the kind of irresponsible attitude on the part of some business leaders in this country that we've got -- i mean, that is just disgusting. i mean, let's be straightforward. >> it's pretty illogical. he was just trying to be wise or something

i can tell you the host of companies that have been crushed by these, qualcomm, even yes, apple. the latter of the largest company in the world has been in a tail spin. it's obliterated the dip buyers. only those who bought at the height of yesterday merrill induced decline, you know, the one i took my watch out at 112 and switched to my brylin, they have -- that's the only dip buyers made any money since the stock hit the peak. i want you to own apple. these stocks and the brethren like semiconductor winners, they're horrified. and now we have today where the buy on the dip strategy failed with some of the most reliable companies on earth. like the media stocks with the constant growth, so not subject to the super strong dollar and of course -- ♪ super freak >> and renewable earns stream. yesterday, disney got blasted and crushed again today. when they get slammed, stocks have been single best bouncers the ones that came back the fastest and the ones you reach for, this is too kissry for me. i'm going to sell all the high fliers. so the sickness spread through the great growth s

he likes one name in particular and that would be qualcomm. david, this seems like a special situation semi stock. you like it because of the turn-around prospects? >> because of the valuation, turn-around prospects, doing a lot of smart things. we think qualcomm has a great long-term franchise and you're getting it for under 11 or 12 times earnings and they're buying a boatload of stock back along the way. >> at the same time, when you take a look at the broader markets and you see the action not just today but yesterday, we saw the market in nasdaq that closed on session lows. do you think now is an attempt to step in or should you step aside and see where the stuff settles? >> we think it's a very good time. last year the market had four or five pulled back to 4% or 5%, the market recovered quickly. the sentiment at the time of the pullbacks was similar to the negativity you're getting today. if you're listening to what a lot of forecasters are talking about on air,t's all bad news. the reality is it's not all bad news out there. the u.s. e

. >> i want to talk about qualcomm. microsoft has announced the cut of 8,000 employees.companies talking about had h-1b visas, they want more foreign workers to be brought in. this is outrageous, is it not? h-1b sees sass are supposed to be highest level and also maintain wages. it is not the case and we've got to turn it around, right are dr. laffer? >> it reminds what congress used to do, they used to pass specific pieces of legislation allowing friends and a neighbors to bring in immigrants from abroad. if this isn't used for adding to the technology of the u.s. there's no reason these people should be given special preference over other people. >> do you know what bale gates testified -- >> not really. >> he it testified on this that he was asked how many of these visas should be permitted? he said to infinity. i mean, that's the kind of irresponsible attitude on the part of some business leaders in this country that we've got -- i mean, that is just disgusting. i mean, let's be straightforward. >> it's pretty illogical. he was just trying to be wise or something. >>

number among them, wynn resorts, qualcomm, broadcom, intel. ashley: yeah. >> so some big names. word on wall street china is following it, worried about the typical boom bust pattern of emerging economy. the worry is this structural problem, not a cyclical issue, that there may prolonged slump in china. ashley: very good point. austan, to pick up what liz is saying is it almost like a house of cards in china? you're never quite sure information you're getting or how accurate it is. there are concerns that perhaps weakness is a lot greater than we think. >> look, i think market has told you that. it has been i will iting you that for some time. you saw big drops in the price of oil and big industrial commodities at a time, yes, there was some excess supply but basically the only thing that could explain it is that the world thought things were slowing down in chinaster than what the government was telling you in china. and, now, it helps if you have got trillions of dollars of reserves. they learned from the financial crisis in asia in the late '90s you don't want to be without r

they include wynn resorts, invidia, qualcomm, broadcom, you're going to see even more stocks, appliednts, sandisk and intel. 22% o. sales of the tech sector in the s&p 500 come from the asia-pacific, 10 of that is china. liz: wynn is interesting because the macao business, but that's almost very specific. looking agent intel, it's up 2% today. do you think that has anything to do with the thought that, oh, china's government will just put a pillow down where they think the economy's going to fall next? >> i like that you brought it back to our own economy and stimulus. i think when people see bad news and an uptick in their market, the question is, why? bad news for the economy meant more government intervention, more government stimulus which was a near-term pop for their markets, and we're seeing that right now. a lot of people ask why do we care for our own economy, and a lot of u.s. companies are making a big bet on the china middle class and the fact that they're going to be a demander, an importer of our stuff. so we're having a little bit of a disconnect. the weak economy tells

i'm just wondering what you're doing with it and what you think is ahead for qualcomm.he chips are still under a lot of pressure. >> absolutely. i think when we last spoke there was an activist getting just involved with it, too. we like it. we think long term potential, either you break it up or you have to do something with it. 3% dividend yield and really good product line but that whole sector has come down, microchip, linear, they've all come down because their earnings haven't come up to where people thought but i think it is a hold and longer term i think we'll do fine with it. >> thank you very much for joining us on this friday, coming down to the nyse. talk to you soon. have a great weekend. >>> it is now time for "trading nation." today we are looking at the biotech stocks. the group as a whole still doing well this year. the ibb etf is up nearly 20%. but it is also down more than 5% this week. joining us now, boris schlossberg with bk asset management. boris, not a bad 2015. a bad week. do you predict more downside or a recovery for biotechs? >> it is teeter

qualcomm is going lower. this group is acting so poor for so long telling you that the p.c. and smart phone supply chain is a disaster. i think you want to avoid it all. >> sticking with tech. sales force moving higher. josh lipton in san francisco with the details, josh? >> that sales force conference call just getting started and ceo mark benioff saying c 2, the best quarter. sales will reach 7 billion, $7 billion run rate by the end of the year. that sales force will be the fastest in its industry to reach $10 billion in revenues and call that revenue of $1.63 billion beyond the expectations, says he was excited to see what he called soot strength in deferred revenue that clocked in $3.03 billion. company raising full-year revenue and eps guidance. on the call, analysts want to hear more color about guidance, margin expectations, big deal activities. hop back on the call bringing you more headlines as they cross. back to you. >> thanks so much josh lipton. they beat on met tricks and the potential, remember the reports back in april that might be taken over? those are sti

qualcomm have significant exposure. and even apple, 16%.se exact names are the ones that are down the most here. there's a lot -- markets reflecting some -- auto companies have significant exposure in china. delphi gets nearly 20% of its refunds in china. and a lot of the german companies, volkswagen, bmw, daimler all have double-digit exposure to china. our companies ford and gm not so much but even here today if you take a look at these names here, delphi down, volkswagen down, those trade over in germany, down. ford also down 2%. general motors also down 3%. i always talk about the big industrials and their exposure to the global growth and the global slowdown story. same story here. 3m, double-digit exposure to china. so is dow chemical. ge 7% of its revenues from china. johnson controls 6%. and again today as some logic here. they're also reflecting that weakness. 3m, dow chemical, ge and johnson controls to the down side. also china stocks are understandably down. chinese airline stocks are down rather noticeably as you can see here,

in this environment where apple and samsung are far and ahead the leaders, you can see that in qualcomm's results, of course, samsung going with its own application processors in these phones. >> what does a curved screen get you? what is the upside? >> it makes the phone just a little bit thinner at the edges, easier to hold and also, it is a navigation element. you can kind of slide out and get apps to work on those edge areas instead of having to go straight to the home screen. so kind of like apple did with the dock at the bottom, where you can -- >> sure, i remember that. >> slide it up. and have those functions in here, which people are using them all the time. all the time. >> yeah. yeah. >> and also when double tapping to launch apps that you might have up on your screen now you can get something similar with the samsung phones and the edge screen is something that samsung can do because they are the leaders in display technology. far and away, they have got the best display technology, they managed to do this edge thing. when i was talking to jk shin, the ceo of the mobile unit i

we know qualcomm's had some issues.were designed out at least in their modeum of the samsung galaxy 6 that came out earlier in the spring here and there's been talk about this for a while. listen, the stock is down 15%, the semiconductor index from the all-time highs made in june here. the stock intel in particular one of the largest components or the largest component was kind of getting oversold here. a lot of bad news in the stock. it's a cheap stock. i don't think you buy it. i don't think you chase it here. i think the stock goes lower over the next few months. >> sector reversal was interesting especially micron ahead of its analysts day on friday really showing some nice -- >> but as dan said the bottom's so low for these guys i don't know -- you really do need to see something out of them. i think technically also if you look at the stocks if you look at intel it has to get through 31 it's been a key level. i thought it was going to hold that. that is resistance. we'll see. >> next up the gold miners. take a loo

intel and qualcomm hitting new 52-week lows. >>> take a check on shares of twitter. down almost 6%.t did break below its ipo price. we'll be talking twitter and market sell-off on "fast money" tonight at 5:00 p.m. >> sales force.com. the stock is down nearly 4%. i referenced jim and "mad money" but i did not know this. marc benioff is going to be on "mad money" tonight at 6:00. did not know that. sometimes you just get lucky. >> that's one to watch, for sure. all sectors are negative today. proxies doing the best. utilities as well as telecom. we are seeing tremendous pressure on discretionary stocks being pressured by the big slump in shares of sney. disney is below $100. it just broke $100 moments ago. down by more than 6% right now. stephen, we've got a lot of things expressed as concerns for investors. what are you focused on? >> disney. that is a stock that i am long. i've also bought one or two call puts this morning that will expire next friday. i'm kd ofrotecting self because it scares the heck out of me. >> w areou so afraid of disn? everybodtalking abt "star wars" will be

and qualcomm down 11% and yum! brands down 8% this month. three of those outpacing the losses of the major averages and they're worse than expected and the questions, whether or not we'll get bounce backed because the china government now saying that they're not going to be popping up stocks over there. in the meantime, we launched that shanghai composite under pressure and the question, when will it ease up and what does the fed do? is the fed looking at the global markets? they say they're not and maybe they are. >> there's a question, what's happening with oil today. it's now up over 6%, if you can take a look at oil. this is an extraordinary jump in the price of oil. a lot of that might have to do with comments from opec, suggesting that maybe they'll pull back on production a little bit. but let's go back to china, thank you very much, nicole, appreciate it. and china signaling it will no longer intervene in the stock market, and that's what they say and that's not helping matters there. and ty young says the government shut be involved

. >> names like wynn resorts, broadcom, qualcomm, samsung.ompanies that have huge revenue to china. do you stay away? >> again i think it is question of company by company what the valuations are. there are companies that offer really good value for long-term investors and finding those makes sense. it is really more finding a good asset at a really good price. >> you like technology. the knock on technology has been the whole sector is so concentrated in amazon, netflix, google, apple. how do you play outside of those? >> i think you can approach it two ways. one, it is probably the growthest sector of them all in biotechnology in a world where you have growth that's not coming about as fast as you like, people are willing to pay a premium for that. in addition, there are really old-line technology companies that will offer you decent amount of value or businesses are very stable or cash flows are relatively stable and you get really good, cheap assets. >> like what? >> like hp, like ibm. there are quite a few of these types of companies. >>

kwaqualcom qualcomm, intel, apple.hey make so much money in china and with this now, the devaluation of the currency because this is the currency ahead of the fed lift-off, this hurts our names here at home. stuart: best start to the day is with nicole and the rest of the team at 5:00 in the morning. and that will be lauren, sandra and nicole, and it's a great st. look at the price of oil, please, it's up today. 60 cents, 43.69 right now. gas, oh,dear. ashley: oh. stuart: went up overnight, up about a penny, 2.58. that means the streak is over. it went on for 27 days, we were down every day, 27 days, but it's over. all right, dan, come in. we've been saying on this program for a long time that the real decline in gas prices comes in september. are you going to say yes, stuart, you're always right, it's going to come down in september? i'm going to say you're right this time. and here is oil, and i think a long-term friend of gas prices is still down. and as for the rest of the country, i don't know if you've heard it,

the activist has taken a stake in time warner cable, raised in qualcomm to just under 29 million shareses. so a couple stocks to watch this morning. there has been a lot of drama from china's growth concerns and the wild reaction in the global stock markets. we're joined by the chief investment strategist at raymond james. i said we're going to ask where we're going from here. so where are we going from here? >> i said on the show back in the first week of july that our geshts measurements were totally used up and we were likely going into a period of contraction that would last into the august 18th time frame. i still feel that way. i think we're going to sink a low and trade back up. >> very specific. usually we have a lot of people who say i ask the question and they go, andrew, no market timing. you're giving us exacts dates. what time of day should we see the bottom come, jeff? >> i have no idea. but the timing model he two months suggested somewhere between august 13th and august 18th. we'll see if it proves right. >> so right now, if you're sitting at home and you're trying to fi

>> we saw big cuts from companies like microsoft and qualcomm and intel.re in an economy, remember what warren buffet says in his annual meeting, he says, i don't know of any company that, you know, has a policy says they're going to hire more people than they need, so even in a very strong economy with unemployment low, companies are taking action and their businesses change to get their work force levels right. when you're in the -- in an economy like this with unemployment at 5.3%, in many ways, these workers are fuel for longer growth, better growth, maybe this period of expansion will continue longer. companies do feed these people. >> redeployed to better position. the price of earning declining sharply, see it throughout the numbers you brought us this morning. >> so true. we've seen now 78,000 plus oil related cuts for the year, so if there's any sector in the economy right now that's kind of going the other direction, it is oil and energy. those -- that drop in price is certainly good for consumers but it changes the dynamics of the industry. >> y