qualcomm says it's providing severence packages and help. it said it would cut 15% of its global work force. half of its workers are based in san diego. price action is off 2% today in german trade. >> a number of apple customers are reporting that their devices crashed after they tried to upload the ios 9 operating system just launched on wednesday. social media is a wash with complaints. some user ss say the upgrade fas after several minutes making them have to start all over again. that's probably caused by too many people trying to download the update at the same time. others say their older iphones and ipads seized up on the swipe to upgrade page. apple also had issues on ios 8. some of the bugs have never been fixed. >> i have no issues. >> let's have a look at other world news stories. croatia blocked off 7 of its main road crossings in serbia in an attempt to limit the number of migrants in the country. the country is full and advised migrants to stay away. but despite this they continue to find routes into the country. hungary has b

qualcomm's the ultimate show-me stock right now.verything that could have gone wrong for qualcomm over the past 12 to 18 months has in fact gone wrong. but we believe we've seen the worst of the revenue decline, we've seen the worst of the margin declines. and i think as qualcomm -- as we go into next year, as they rebound that margin structure and they get close to that $5 earning handle again, i think you can see at least $70 on the stock if not maybe $80 a share over the next 18 to 24 months. with the dividend, that's almost a 50% increase over the next two years. we love the risk/reward of qualcomm down here, recognizing all of the past troubles they've had over the past 12 to 18 months. >> interesting, though, your biggest holding is berkshire hathaway. is that just a general broad-based play on the american recovery and the american economy? >> not necessarily. it's born of valuation. if you squint a little bit, you can make the case that the book value per share, we own the "b" shares, may be approaching $105, maybe $110 a sh

to give in qualcomm.on't know if it's going to be an activist, they split the company up. something's got to happen because this stock has trade poordly for the last almost 18 months. >> qualcomm has china exposure and in a tape like this even if something happens it may not be anything -- >> we thought we'd priced in all the bad news on china in call tomb. a reminder why people are selling qualcomm and a fear the state is out to get them in favor of the local plays. but you look at qualcomm, 15 -- where did we close? 55 and change today. within 4% of its spike down lows on monday which tells you sentiment in the stock. i think netflix is the place you have to watch, though. this is to me an ultimate barometer for the market in terms of momentum. it's a cult stock. it's a wonderful company in terms of what they're doing. it's a ridiculous valuation. there's a lot of momentum in the stock. you don't hold this stock. >> the thing that would concern me about netflix is this is a winner overall for a lot of p

frankly, i was very happy at qualcomm. it was a great company. had watched his progression and i was curious about his vision. he seemed so different. out of the blue, when i got a call to come and look at the role as the head of business development and got to meet him in person, and he is such a change agent, i was all in. i picked up and moved to seattle. emily: i want you to hang on for a second because we are getting some breaking news headlines out of hp. saying it will be cutting 25,000 to 30,000 jobs as a part of a restructuring. i recently spoke with meg whitman, and she did say that more job cuts would be coming. we're trying to figure out exactly where they are coming from. you cover hp, it has always -- already been through a lot of pain with meg whitman coming in and trying to turn this around. the split that is coming what do , you make of these additional cuts? >> we have to see where the job cuts are, but something you can see is that they are not competitive in services at this point. offshore companies are regaining market share

so is qualcomm. we've got all of this interesting action with samsung and apple.esigning their own chips. which takes a lot of margin out on the wireless side. what do you expect to drive this over the next several quarters? >> well, when you look at what happened to semiconductors people want to go back a couple of months ago. sector was trading on merger mainia we had the recent acquisition of qualcomm by avago and the semiconductor industry was on fire because investors were looking at what was going to be the next lottery ticket of what company was going to get acquired. and we met with 15 executives in june who told us that underlying fundamentals weren't that healthy. since that we've been seeing it play out. particularly in china we heard at the time that basically back in mid june, the overall market was a b-minus and china was cautious, europe was weak and the only strength was in north america. here we are, stocks trying to trade on their fundamentals. china has been very weak. we've seen a lot of that. was going to be driving it moving forward is we're

other companies including one led by virgin and qualcomm are pushing similar plans. >>> that's news, i'm randall pinkston. the news is next live from london. >> border closed. hungarian police shut the bother to serbia stopping thousands from entering. hello there i'm barbara serra, you're watching al jazeera live from london. also coming.man coming up in th. thousands die in what egypt said is a mistaken air attack. >>> tony abbott pushed from his position in australia.

in san diego at qualcomm stadium, alcohol sales are reduced from a two beer limit to a one beer limit and into the third quarter. the stadium authority board will meet to discuss this and the city council also meets tonight at 7:00 p.m. live in santa clara, i'm chuck coppalo. >> usually football a sign of the fall. doesn't feel that fall-like right now. >> when can we light our pumpkin scented candles, kari? >> you can probably do that tonight. it is milder as we start out the day and will be as we go into the afternoon. coming back to something that is about closer to average with a high of 88 degrees today in los gatos and 71 degrees and 82 in santa rosa and also in hayward and dublin today. seeing a high of 86 degrees. our temperatures, though, still going up and down. i'll show you the trend coming up. let's check in now with mike. >> here's the san mateo bridge and look how clear that view is, as well. look at your map, as well. we see green all over the speed sensors and zoom into the biggest issue. west 580 slows here as you're approaching east 14th street. again, we told you t

hp, qualcomm. both of those have had china-related troubles. qualcomm on intellectual property.p just has struggled there over time, and, of course, faces a lot of pc-based competition out of china. a lot of the pain, the biggest pain in tech anyway, has been china-related. i wonder if something else happens because of some of the debt ceiling concerns we have at the end of the we're, or in tech at least is much of the concern kind of confined to china? do you have any thoughts on that? >> right now tech, you know, again -- technology plays a role everywhere. as we saw with vw's bad news with their emissions work-arounds of defeat switches. tech is everywhere, and i think these days it can be isolated. those that are exposed and have taken that risk to be exposed, unfortunately, wrote it up, and now we're riding it down. i think there's still a lot of opportunity as it plays out. again, i think you see this as an important influence. obviously china is a huge market. i think so far it's not rippling any further. when it hits the global economy, everybody slowed down happens. the

the grids will cover about one-fifth of a square mile, the same size as the parking lot around qualcomm stadium. anchor lines will run from the cables cages to the bottom of the ocean. those lines extend out so the whole project will cover about 1.3 square miles. the cages could have poles that extend 16 feet above the water. but kent says we won't see them from the shore. he has computer modeling that shows the cages won't look like this, but like this. because they'll be below the horizon. to test that out, i did some trigonometry. my calculations showed if you're lying on the ground at the ocean's edge, you'd see the top third of a 16-foot pole. if you're standing up, you can see more. environmental group san diego coast keeper is concerned about the scale of the project. on a cool morning a few weeks ago i boarded a small boat with matt o'mally. we set out from shelter island. after 45 minutes riding through some very choppy waters, we rounded point loma and stopped at a spot four miles off ocean beach. >> you come to a place like this, how quiet, pristine, beautiful it is. >> repor

prime minister modi met today with ceo tim cook and the heads of google, microsoft, qualcomm and adobe. you can see the heavy security presence there. tomorrow governor jerry brown will meet to talk about climate change, renewable energy and the digital economy. modi will speak to thousands. one group plans to protest accusing modi of human rights violations and trying to turn india into a hindu nation. >>> and the chp tried to pull over a motorcycle tonight but the riders took off. officers chased the man and woman on the bike for about one minute until the motorcycle hit a car. both people on the bike were thrown off and got hurt. police arrested the rider on the bike for suspicion of drunk driving. >>> and today, an explosion happened early this morning. the explosion was caused by an equipment failure, according to pg&e. power was out for about 58 customers. >>> federal investigators in seattle say the front axle of the duck boat involved in the deadly crash was sheered clean off. today the ntsb inspected the wheel of the vehicle. they don't know if the axle came off before the boa

. >> and the qualcomm ceo just laid off 5,000 workers. and the h 1b program [simultaneous speech] >> the program is used almost exclusively, not exclusively but the. >>> mood of it is used for ordinary i.t. workers, ordinary entry jobs. wages that are 20% or 40% less than the average wage for the had a occupation. >> you are talking about [simultaneous speech] [simultaneous speech] >> not for specialized people. >> you are singling out anecdotes. >> anecdotes? we are talking about tedges of thousands. cognizant is a company you represented [simultaneous speech] >> i know their business model fine. >> 30,000 american jobs that were destroyed. >> you're losing the message you're talking over each other. could you give robert a chance. >> you're talking about one via as a part of an immigration system policy that is failing to fill 775,000 current openings, an economy that is going to need per year 180,000 -- can i finish? >> we don't measure that in those sectors. >> i want to move on to diversity, it's a big issue big part of this debate.

qualcomm puts its chance at reserve status this year at zero. and under pressure policy makers meet with inflation coming in for a low target. we'll hear exclusively from india's biggest bank. also coming up this hour prime cuts. how japan's changing tastes are opening new export markets and satisfying sushi lovers further afield. all that and more in this monday edition of "asia edge." >> it is a fairly quiet day here. industrial company profits are down 8.8%. that is the biggest slump in four years. the shanghai composite currently down by 0.7, a two-week low. we're also seeing a big fall coming through in singapore. the benchmark times index down and it dropped to the lowest evel since june, 2012. down 3.7%, also seeing weakness in jakarta, malaysia, and thailand that has just come online. japan at a lunch break at the moment. down by 1.1%, the nikkei 225. 168 out of the 225 stocks lifted on the nikkei. we are seeing good gains though coming through in australia th the s&p 500/ask 200 up by 0.8%. a slight pickup in new zealand. we're really w

the waters of china yet, because we keep seeing different big tech companies whether it's cisco, qualcomm, even microsoft running into some unexpected troubles there now and then, but now you see cisco back at the table at this meeting. apple just a few hiccups have big build-out plans out there. is it smoother sailing from here on out? >> i don't think it's smoother sailing. hooin is a tough place to do business. i understand wra is a tough place to do business. brazil is a tough place to do business. i don't think it's getting ease wrer, but i think the american companies are finding relationships in local partnerships that maybe are better than they've ever been. you have folks like alibaba reaching out and making investments in the u.s. >> it's a hard market to do business. it's a market that american tech companies can't ignore. if you want to produce growth, you have to be in china. >> no question that's why mark zucker burg had a conversation with president xi in mandarin. we'll ehow that plays out. facebook blocked in chooirn. we have a lot to go in this relationship. jeff well, a

brands, china, qualcomm. these are big issues for them.: big issues, jeff, are you buying from them? is that what you're doing? >> we believe this is a buy on the dips market. when the fed finally raises rates rips off the bandaid i think that will remove a lot of uncertainty. earnings are expected to be negative in the third quarter. so the sentiment is not positive. we may get upside surprise but one thing we're really focused on is consumer confidence. we got a great number other day. second highest in eight years. so consumers are out there spending. you know, jobs are there. we think it is going to be better. liz: thank you. that's a great way to end it. jeff, wolfgang, good to see you. tell you what is better, numbers today, dived and melissa. we're seeing a big move to the upside on stocks. david: it isn't over yet. this is great way to begin it. market is gaining big time to end a lousy quarter. [closing bell ringing] melissa: we're closing out the worst quarter in four years. we have green on the screen. we'll tell you what to exp

. >> qualcomm? >> yeah, a little disappointsing, but yeah. and i think microin between 20-25.e got micron wrong for years, but i think micron between 20-25, a name at that value, that longer-term, six to 18 months out. yes. >> it's our call of the day, mkm upgrading that stock to a buy, down 52% this year. the firm says it's now time. ian eng made the call and joins us from boston. >> great, thank you for the invitation. why is now the time? >> the last 30 days we've seen some stabilization to the big-end markets in terms of price is and demand. but our thesis is not based on that it's based on three things, as we look at next year, we think they'll get closer to industry cost structure. they have big transitions in d-ram memory. and a shared joint venture with inotera where they get profit-sharing agreements in place that ramps up next year. we think it's trading closer to true book value, we calculate at $17 a share. they have a lot of pp & e that's written down, about $5 billion of lpeda is not in the mix. about $2 billion of inotera is undervalued and the headlines on the

>> i'm going with qualcomm.f you look at the chart, it looks atrocious, it was hanging around the 50-day moving average for while. started to break down in june. again in july, again in august. when everything else was breaking down, it added to some of the fall. and now you can see it's wavering around here. 53 to 55 a share when it was 54.75 this morning. over 10,000 in the first 30 minutes, september 55.5 calls are getting purchased. 66 cents at the time. they were buying those, second i saw that, they were huge blocks. over 1,000, over 1,000, over 2800. when we started to see the big blocks that puts me in i want to jump in and i'm in this name as well. this expire as week from friday. so this is going to be a very short hold. >> a couple of weeks for you. >> not even a couple weeks. eight days at the most. >> guys, thanks. >> thanks, judge. >>> crude oil is rallying by the way. nearly 3% despite a higher than expected rise in inventories. jackie de angelis at the nymex with the futures now crew. >>> we are

qualcomm puts its chance at reserve status this year at zero.ressure policy makers meet with inflation coming in for a low target. we'll hear exclusively from india's biggest bank. also coming up this hour prime cuts. how japan's changing tastes are opening new export markets and satisfying sushi lovers further afield. all that and more in this monday edition of "asia edge." >> it is a fairly quiet day here. industrial company profits are down 8.8%. that is the biggest slump in four years. the shanghai composite currently down by 0.7, a two-week low. we're also seeing a big fall coming through in singapore. the benck

something's got to happen in qualcomm soon. if you look, that stock continues ton be able to get out of its own way. you're going to hear some noise from somebody at some point. >> starboard. >> at some point. and i think the stock becomes compelling. if for no other reason than somebody's going to open their mouth. >> coming up next gopro getting crushed. we'll tell you what was behind today's brutal midday 10% sell-off and if you should be buying right now. plus will yahoo! engage in the ultimate game of chicken with the irs and push ahead with the alibaba spinoff? the answer could determine the fate of marissa mayer. and later we've got five ways to profit from apple's big day without having to buy a single share of apple's stock. we'll tell you about that on a very busy "fast money." back after this. equals great rates. it's a fact. kind of like shopping hungry equals overshopping. dad: yeah, 20 something years now. thinking about what you want to do with your money? daughter: looking at options. what do you guys pay in fee

. >> the obama not for qualcomm forever. i've never seen pressure like this from the white house anytime anywhere. i've been told by members that were told there won't be money for districts of the vote against this. no national money for your campaign. you this important positions on committees and we will investigate fund raising and mrs. mafia and chicago politics at its worst. finally, why is president obama doing this? why is he aiding and abetting america's most dangerous enemy the islamic republic of iran. let's briefly examine his record to determine what evidence requires us to believe. for 20 years obama attended jeremiah wright's anti-israel church and caught them a great band of our mentor. they refused to attend and refuses to use the term of islamic terrorism. they are legitimate concern. he has criticized iran to criticize israel regularly. if you want to get rid of mubarak and refuse to get rid of the leaders of iran. therefore the evidence requires to conclude president barack obama is sympathetic to radical

qualcomm, 49% of revenues originates in china. the big semiconductor giant. afago is you of just slightly. take a look at a few others. micron, the semiconductor tech, memory company. 41% from china. where the revenues come from. micron altera 31% from china. sandisk is a digital storage device and software company. apple, 16% of revenue comes from china and a big part of future planning. what happens in china has a huge impact on the companies here, neil. neil: you are a genius, but it is yuan, not yuan, right? >> i say yuan. neil: right that down, actually it's not chinese. duly noted on. that ashley webster, as we say here. joe biden is in florida ahead of his meeting with labor leaders is talking up community college. now john ratzenberg, big pixar fame is saying look, there are other alternatives here that we forget, you know john made it a single cause to remind americans, we used to admire plumbing and electricians and that sort of thing, and now we're receding that out and paying a bundle for it. good to have you back, my friend. >> thank you, welcome

they power qualcomm's snap dragon processor. they are doing very well in this tough market. can smart to find names that will work. they are trading below their historical pe five-year average. >> the interesting thing is how much retailers are playing leveraged oil etfs. some have bigger trading volume than the blue chip names we talk about here every day. on that note talk about looking around for value here, on the low end of the dow today, to see glencore after everything it's been through, suspending the dividend saying it's got to raise, sell assets, what are people to do with the energy space? >> i think it's too early to get too aggressive. if you look what kevin and steve and i are all saying, there are certain areas that will do better than others. health care is doing extremely well from an earnings standpoint. up 14.8% year over year last quarter with revenue growth 8%. good news is i do think energy is starting to base in here. if that it's case, some of these fears about high yield defaults may abate for a while in the energy space. if you look how bearish indi

on top left is link, qualcomm and other company, which is now google has invested in some of the partners it's a pretty simple concept. replace a paper with a huge wi-fi hot spot. which gives a free wi-fi access to the citizen, then generate revenue through this huge lcd screen. they're expecting, last time i heard, about $700 million generated for next ten years. that's where sustainability because you generate revenue and that's where reliability is. there's a skillablety. it's not just one block. it can cover the whole city. this army to pick up all of the soldiers in battlefield. and risk and driving ambulance uphill. so, about military, now in the sector. typically, right now as the elderly care decision, when you have the elderly home and a lot of time, these folks have a hard time than just come to the bus station because it's hard for them to walk. so, why don't there be a shuttle to each house pick them up instead of go to hospital. so, several cities and actually, london is one right now. they're doing a bunch of stuff. the city instead of participa participating in the iot, the

jana, qualcomm, remember that battle.onsidering the split of the company. 29 million shares. stock down 30%. >> my. >> pershing and value act. one name there, vrx, valiant, which as our viewers know is down 20% at least over the last month. you can see what it's done recently with those significant stakes for both of those activist funds it will not be a good year for pershing. and finally, the larger issue as well, what about when you win? look at hess and elliott. remember that battle? >> sure. >> they got them to get rid of the gas stations. got them to change the composition of the company. it's been straight down as a result of the price of oil ever since. you do wonder sometimes whether the apex has been seen in activism. >> i think one thing that happened is -- in the case of macy's, the business tailed off. i will give these guys their due. darden has been good. that's a success. these are not people who are idi' idle and what they're doing. the tide is definitely turning. >> we're about to start to get the slew o

skycorks and qualcomm have been higher most of the day but anim analog, lagging. a lot of folks are wondering whether the bond money will be used for yields. >>> the dow and are on track for their biggest weekly gains in eight weeks. where are the opportunities here? joining us now, two market strategists. girl power on the show today. thank you very much for joining us. i'm actually looking forward to next week. why? because i feel like it is going to, to a certain degree, settle september once and for all. right? this is the fed meeting we've all been obsessing over for the longest time. do you think that meeting will make the market volatility go away, calm down or heat up? >> i think you're going to continue to have volatility because if they go ahead and do it, maybe it will just be an eighth, maybe it will be a quarter. then the fact is the market can start obsessing whether or not the fed made a mistake and we'll watch the two-year yield to see if the treasury market believes that and if the 10-year yield comes down. so in any way, it is almost as if they c

on top left is link, qualcomm and a couple of other companies, was now also google has invested as somef the partners participating here. it's a pretty simple concept. replace a pain phone booth which is not used these days, replace pay phone booth with huge wi-fi hot spot which gives a free wi-fi access to the citizen, then generate revenue through this huge lcd screen. put on there. they're expecting, last time i heard, about $700 million revenue generated for the next ten years. that's where sustainability because you generate revenue and that's where represent lick indicate ability is. there's scale ability. you have to put in this stuff, it's not just one block it can cover the whole city. developed by the u.s. army to pick up soldiers in battlefield without putting another soldier at risk and driving ambulance to field. so, about military, now in the sector. typically the application right now is the elderly care situation, when you have the elderly home and a lot of times these folks have a hard time just come to the bus stations because it's hard for them to walk. why don't shut

. >>> qualcomm has cut more than 1300 jobs in san diego and hundreds in other markets, and the restaurantlo wild wings ending an ad campaign featuring the comedian steve ran i did i did after he admitted to lying about being in the world trade center during the september 11th attacks in 2010. >>> with the latest fed decision done and out of the way, traders are quickly turning to the upcoming earning season. what is the outlook? the early signs are not particularly rosy. bob pisani, we know a lot of drag will come from energy. how much is, of course, remains to be seen. i am wondering how much we'll have to bring down estimates for other sectors like financials. >> that's the concern. now the fed has the decision out of the way, we look at earnings and, unfortunately, we're not getting a lot of help here. so take a look at the numbers right now for the third quarter. we're expected to be down 4.4%. this is the s&p 500. that number was supposed to be positive, folks, for the second half of the year and it's not happening. revenue is not doing anything either. down 2.9%. that's also a major

for our viewers waking up on the west coast, you'll want to know that qualcomm is cutting more than a after hewlett-packard announced another 33,000 job cuts earlier this week. now to politics, the clinton campaign could be in trouble. "usa today" reporting hillary clinton is losing support among moderates and independents which could doom her run for the white house. clinton now trails senator bernie sanders in both iowa and new hampshire. well, you certainly can call them an odd couple, donald trump and russian president vladimir putin. one of trump's advisers telling sean hannity saying there's a good chance trump will meet with putin this week. with 27 seconds left on the clock, chiefs' running back jamal charles fumbled the ball, the broncos recovered the ball and ran it back for a touchdown, the broncos beat the chiefs 31-24. back to our top story of the morning, and that is the federal reserve and the markets. peter barnes was at janet yellen's news conference, and he's got the details now. good morning. >> hey, maria, that's right. the fed says while it feels the domestic econ