cheryl: raymond james coming out with its latest earnings.s ceo paul reilly will break down those numbers and tell us where he sees growth coming from in the next quarter. david: also will jpmorgan's ceo jamie dimon fend off all the prosecutors, all the regulators, all the trial lawyers that are piling on to his firm and on to his back right now? a former federal prosecutor will give us his take in just a moment. ♪ peace of mind is important when you're running a successful business. so we provide it services you can rely on. with centurylink as your trusted it partner, you'll experience reliable uptime for the network and services you depend on. multi-layered security solutions keep your information safe, and secure. and responsive dedicated support meets your needs, and eases your mind. centurylink. your link to what's next. help the gulf when we made recover and learn the gulf, bp from what happened so we could be a better, safer energy company. i can tell you - safety is at the heart of everything we do. we've added cutting-edge technolog

cheryl: aaron kessler, senior ap list -- analyst at raymond james, aaron's going to be back wuss onceout. plus we've got intel's ceo stacy smith is going to be with us following his company's earnings report, so a lot of big numbers coming on "after the bell," that's 4 p.m. eastern time, david asman will be here. >>> well, the closing bell's going to to be ringing in 18 minutes. still no deal, semblance of a deal maybe. the markets have been pretty optimistic up until really today, but should you be preparing for a huge sell? we're going to talk about that. then we're going to talk about this, this coin takes center stage in sin city. we're going to tell you how you can pay for strippers using the untrackable digital currency. ♪ ♪ you really love, what would you do?" ♪ [ woman ] i'd be a writer. [ man ] i'd be a baker. [ wan ] i waa be a p maker. [ man ] i wanna be a pilot. [ woman ] i'd be an architect. what ifif told you someone could pay you and what if that person were you? ♪ when you think about it, isn't that what rerement shld be, paying ourselves to do what we love? ♪ cheryl:

aaron kessler, raymond james senior analyst.: it has come down after-hours significantly, yahoo! people are piecing over looking at all the details not quite as excited about yahoo! as at the beginning. >> she is marisa mayer. she is a young gun. doing video chat with the earnings call. so it is face-to-face. intel is the other big story here, in the cross-hairs of investors after its earnings beat. we'll ask intel cfo stacey smith what he is seeing in the chipmaker's next quarter. david: with republicans and democrats struggling to bridge their differences on capitol hill we hhve our own debate coming up. democratic congresswoman, sheila jackson-lee, republican congressman, morgan griffin. they have everything to gain in talking to you. you don't want to miss them coming right up. ♪ she's always been able to brighten your day. it's just her way but ur erectile dysfunction - that cou be a question of blood flow. but ur erectile dysfunction - cialis tadalafil for daily use helps you be ready anytime themoment's right. you can be

fred lane, raymond james, thank you very much.agen: we are going to look at the top cities in the world for the number of big businesses that are headquartered there. which ones are in the united states? connell: we will find out coming. some hints may be. a big winner after the government shutdown according to charles payne and charles is coming in to tell us why. dagen: the big apple announcement today, the new ipad, the new mini. is this what the company needs right now? i need a lighter. i will pay. you can save that. it's a growing trend in business: do more with less with ss energy.hp is help. soon, the world's most intelligent servers, designed by hp, will give ups over twice the performance, using forty percent less energy. multiply that across over a thousand locations, and they'll provide the same benefit to the environment as over 60,000 trees. that's a trend we can all get behind. peace of mind is important when so we provide it services you bucan rely on. with centurylink as your trusted it partner, you'll experience

we will have an exclusive interview with raymond james ceo following the earnings.after the bell. right here with david and myself plus more earnings. at&t is coming out. plus we will hear from cheesecake factory and angie's list. we will be right back. it's a growing trend in business: do more with less with ss energy.hp is help. soon, the world's most intelligent servers, designed by hp, will give ups over twice the performance, using forty percent less energy, and they'll provide the same benefit to the environment as over 60,000 trees. that's a trend we can all get behind. became big business overnight? ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company prile. a research tool on thinkorswim. from td ameritrade. cheryl: want to take a quick look at some of the s&p winners. we just spoke to corning's ceo, chairman and chairman wendell weeks. his company, and this is really the big story of the day and he was here on pox business.

after the report, raymond james raised the price target up from 13 euro 40 and still has an outperform rating. market reaction, extremely positive. as they were talking about recommendations, bbpa is one of the worst performers this morning after credit suisse changes its recommendation on the stock to outperform. the nonperforming ratio has increased sharply between the second and the third quarter. over to you. >> stephane, thank you very much for that. bp is the top performer on the ftse this morning. the all-giant posted better than expected profits and shiekd its dividend by 60%. let's get out to peter at rpc capital markets. a hike in terms of the payout. they're transitioning the business by selling more assets and based on the headline numbers. win, win or round today? >> headline beat by 16%. that looks extremely strong. if you're going to get picky, which i'm paid to do, you'd say the underlying business is the upstream and the downstream. they were up 2% on expectations. nonetheless, this is an area of delivery which bp, on most of the oil majors, failed to do in the second

let's bring in now on the cnbc news line raymond james' tavis mccourt.ve a strong buy with a target of 675 on apple stock. anything you've heard today that makes you change your mind? >> no, no. the financials of apple are really driven by the iphone, the last month event and the 5s launch were by far the most important things financially this quarter for apple but i think john nailed it. i mean we're seeing three very big companies tackling the computer industry in a very unique way. apple's building high margin hardware and giving software away for free. microsoft is trying to modify its hardware and google trying to commot tize both as long as you're willing to give them all your information. we'll see which one wins. the financial trends driven by the 5s is what's going to drive apple's stock. >> going to keep that strong buy thp thank you for your quick comment tavis and john before him. >>> shares of handbag maker coach losing some 7% despite beating earnings expectations. could the sell-off be a buying opportunity? start talking numbers. on the te

. >> some of wall street's biggest strategists, including raymond james think investors should be buyingany pullback right now. >> i think you'll see a last-minute deal this week. that's the way it works. you saw the same thing happen with a fiscal deal. i think if you get a hit today, tomorrow, into wednesday, i think it's a buy. >> all right. well, coming up, our all-star team of money managers will tell you where to find potential buying opportunities in this market. >> also, netflix and cable companies are supposed to be rivals. so why is netflix trying to team up with some cable providers to get into your living room? is that a good move for the company? answers coming up next on the "closing bell." it's as simple as this. at bny mellon, our business is investments. managing them, moving them, making them work. we oversee 20% of the world's financial assets. and that gives us scale and insight no one else has. investment management combined with investment servicing. bringing the power of investments to people's lives. invested in the world. bny mellon. >>> last week we were asking,

downgraded by raymond james earlier today.tock is down 17%. >> this is one that is close to your heart for many different reasons. best buy flying high, very strong volume today. but not seeing a lot of recent news otherwise, but look that the. nearly 7%. >> ooh, the stock is up actually 6.66%. that is a bit ominous here. as you said, mandy, no real news. they did confirm $100 smartphone trade-in program. hard to imagine that's going to rise the stock 6.6%. the stock's up 117% over the past year. but a trader's favorite. it's a momentum name. it continues to be so. >> indeed it does. nu skin getting an upgrade. >> the always fiery tim ramey. tim upping this to a buy. third quarter estimates. target goes from 110 to 110 after shares dropped on no news. he also says this company does deserve somewhat of a premium valuation at least to the other mlms, the multilevel marketing names. >> this is our under-the-radar pick. it is infoblox. it sees multiple paths to success and upside. price target was also boosted at ubs tuesday. the

raymond james is lowering its rating to outperform from a strong buy. however, they have upped their price target to 56 from 38. that's quite an increase. the firm saying, quote, instagram represents an attractive demographic for advertisers. shares have nearly doubled so far since its ipo. >> this is one of those annoying calls in a way. they're upping their price target but yet downgrading a stock. >> hard to understand. >> housekeeping in a way. i agree with it. the stock is more than, you know, its ipo price obviously, kind of toward the top of what i would call a range at this point. we're going to have money flows soon from twitter and if you look at the other social media stocks they traded in ranges the first couple years. at the top or above that range, i think we're going to pull back in. probably want to take profits here. >> moving on to our last stock, goldman sachs moving downgrading toll brothers to neutral from buy. saying given the company's outperformance, its relative positioning in our group has moved lower. over the one-year period

first of all we've got raymond james announcing five restaurant stock downgrades. >> listen up, hereo wild wings, fiesta restaurant group red robin and carol's cut to outperform. still a good rating but from a strong buy not a huge downgrade but risk to sales and the overall environment for restaurants, maybe not so great. they highlight it's unusual to have strong buy ratings on restaurants so this does emphasize their near term concerns. stocks mostly -- >> yeah. pretty mixed picture out there. >> h and b block upgrade from morgan stanley from overweight to equal weight. >> they note last month's h&r block branded effort to buy coverage under new obama care program, their target to 33, about a 32% upside move seen on h&r block shares as of this morning. stock has been hot up 54% over the past 12 months. >> we have under armor upgrade to neutral. they like nike more. >> they do. it's a dual call. jpmorgan analysts citing increased amount of department space devoted to active wear. doubling of the square footage devoted to active wear. raising underarmor but nike is best in place wit

let's find out why exactly with jeff from raymond james. jeff, what is your reading on the selloff in the markets? >> i think bill gross had it generally correct and precisely wrong. we've come a long way in a fairly short period of time where he was precisely wrong while no one can time the market on a short-term basis, last week all ten of the s&p macro sectors were two standard deviations above their 50-day moving average, way overbought, only happened twice since 1990. as of yesterday the price ossie later which measures the enthusiasm with what the hot money is doing with their money, hit levels only seen four times since 1990. so the indicators are calling for some kind of a pause or pullback here. the reaction to the fed nonstatement is just the cause for the pullback. >> so, you said a lot there, jeff. are you -- you know, we sort of standard deviation and my head started to spin a little bit. give us the layman's terms of what you believe is going to happen between now and the end of the year. >> i think you will get a pullback, do

let's bring in our hatfield transportation analyst with raymond james.s fan. must have been a long night for you guys. >> yeah, can i hear just fine. >> you have to be impressed with the amount of opportunities being provided ups via e-commerce add growth in e-commerce. it's kind of like pitching. you can't have too many good pitchers and with ups you can't have too many options and opportunities for people to manage their e-commerce transactions and that's what they've been doing. they've been expanding those options. as a result they've been winning. >> right. i get it. what's the advice to shareholders now? >> we have been neutral on the shares. but we have to admit that the performance they put up lately makes us question that judgment. >> donald? >> yes. i can hear you, simon. >> as long as you can hear us. we just wanted to make sure. hopefully you heard part of what he said there. but what's your opinion on the results? >> the results were stronger than we anticipated. for quite some time they were losing market share to fedex, still losing market

barkleys out there but jpmorgan, raymond james raising their targets on delta as delta came out and gave they see revenue growth, passenger revenue to the upside, margins improving. that is good news for delta. we will keep an eye on facebook, instagram advertising, that will be a big deal. kissel working with samsung. got to get to tweet versus twitter, the long awaited ipo, we got the news they file for that. in the meantime small-company which is a home electronics company, home entertainment is soaring because people are confusing it for twitter. be careful. cheryl: good point. thank you very much. hot belly cooking up some big numbers in its market debut today. the ceo joining us from the nasdaq. congratulations on your ipo. >> great to be here. cheryl: talk about the pricing of the idea. we were looking at $9, $11 per share and now $14. you have doubled, your stock today by $33.78, begs the question do you think the ipo was miss price? >> no. i think they did a fantastic job and you can't predict what is going to happen. we are happy but this begins the rest of the day, the rest of

attention what he call as trifecta of bullish tailwinds jeff saut chief investment strategist for raymond james. welcome back to the show, from st. petersburg as florida. hi, jeff. >> hi,, lori. lori: what should investors focus on now. >> no surprised debt ceiling debate got solved in the last minute. similar to the fiscal cliff crisis. the media will turn their attention now to the potential crisis which is put off until late january, early february. now at least in the short term it is in the rear view mirror. i think the markets will focus on earnings which i think will come in better than expected in the aggregate. the economy, which numbers will not be paid much attention to over the next few months, except for tomorrow's employment report. then the federal reserve, i spot that one right. it was not larry summers. it would be janet yellen all along. lori: you did. we'll give you credit for that. what risks do you see for the market? you expect a trifecta of bullish tailwinds to hit the u.s. equity markets, that is quite a statement. >> there is always the risk of a policy mistake out of d

joining us now, raymond james chief investment strategist jeff saut. how do you know?these days. who knows what could happen? >> i lived inside the d.c. beltway. i have a pretty good network on the bill in the same rayburn building south of capitol hill. i was up there about a weeks week 1/2 ago. spent two days in d.c. talking with a lot of people whose names you would know. same thing with the fiscal cliff. everybody was worried about a armageddon with the fiscal cliff. boys and girls came together at the nth hour. same thing will happen here. politics as usual inside the beltway. tracy: to your point in your notes determines the short-term direction of the stock market, so does that mean the market goes up? >> i still think the market goes up. i think there is a lot of cakier on the sidelines. i think earnings will come in better than most people expect. although we shaved .2 of a percent of gdp over the shutdown. once that is in the rear view mirror, i think stock market will pay attention to the good things going on. tracy: will you see a fall? are we seeing 1650 o

defensive names like exxon might not be as much in favor as we would like, but in the context of the raymond james thinks of oil prices and looking for a correction in oil prices next year there should be a flight to quality trend and that is how all exxon can benefit. adam: if there's a correction in oil prices in 2014 will, could get hurt by that? >> absolutely. exxon would as a natural hedge the refining business and chemicals and konica does not, it spun off of it, downstream exposures year-and-a-half ago so it is not effectively a pure play on the commodity. some natural gas but mainly oil and keep in mind the leverage in conoco phillips is relatively high so lot of dust on the balance sheet, it is outstanding cash flow. enough cash flow diminishes which we think it will next year's than the gap between how much they spend and bring in will get wider and that is not good for a highly leveraged company to be in. adam: there is a report about incredible amounts of oil generated out of the gulf of mexico which we couldn't have foreseen three years ago after the tragic spill. whose dance to make

aaron kessler, senior internet analyst over at raymond james with a price target just raised to 1,030ng. >> good morning. >> it seems like shares about to close the $1,000 mark. what does that mean going forward? >> the site revenue showed double the growth that i think the street was expecting at 6%. it allowed folks to move past the near term transition issues that platform change can make, closing the loops around advertisers things that they're doing around chrome, maps and android. >> if $1,000 is tough for some investors to swallow, this teams sob sending a positive sign of investing in the internet space. i wonder if this is a rising tide lifting all boats here. >> it is. you've seen our -- >> ken, what about the investment? there are a number of great businesses poe ttentially they monetize but they're still in this heavy investment mode. that will give some investors some pause. >> i think when you look at the investments they're making, mmi was a margin drag. overall margins, core margins, were find. but i think they're not going to get credit for a lot of the investments th

joining us on the "squawk" news line is raymond james equity research manager.ks not far from a high. then we heard versus its peers, it's still selling lower because of all this -- all this regulatory overhang. does the $13 billion put things to rest? or do people still worry about the criminal investigation after that? >> well, good question. the stock is cheap as you said, 8 1/2 times earnings for a company typically trades at 10 or 12 times. the deal is adequate in removing the lion share of the residual mortgage risk. how long will it take the street to realize that? i think that's the key question. and also we don't know if the company has to admit to any wrong doing. and if they do, this could pave the way for subsequent losses. >> yeah. do you -- i was asking someone earlier, they went after bear stearns and those two guys and they were unable to make that stick. but then they got fab. things have changed a little bit. it was the goldman situation. do you think now they could make a criminal charge against something done at wamu or bear stearns? >> it's

jpmorgan cuts to neutral, raymond james cuts to market perform. >> they make the best machines.ck was up huge in the premarket, you wait for the guidance for conference call and they guided negatively. don't trade when the headlines come out, akamai, because it's that conference right before the q & a when they lower the boom and you don't know what the boom is going to be and akamai was terrible. it's a shame. it's a good company. >> deutsche goes from hold to buy, even as i think they take down ubs. a big piece in the "times" today about a letter to jamie dimon saying don't worry, it worked out for blankfein in the end. >> that was a really interesting piece. how lloyd has been able to really become the senior statesman of the group. the p.r. people at goldman also very helpful. >> well, they brought in a new team. they seem to have done wonders. >> yes, the beard. >> it's all the beard. >> you know how many times i'm tempted to get that beard because of the success that lloyd's had with that. >> go for it. >> you think so? >> yeah. >> wow. >> he's developed a new karma. he's

it's a firm like raymond james.ind the lesser known firms have the best in terms of actually picking stocks, too. >> it depends on which industry you cover or some of the more company specific issues. a lot of these guys, jpmorgan, the reason why they got the number one on this list is because they had the most first place, second place, they got an army of analysts. but some of the smaller guys, maybe the ihss of the world, the sanford bernsteins, they get good mentions because they're great at what they do. they noent ranked as high because they don't have as many of them. >> and if you follow a company for years, you do all the groundwork, and that year it doesn't do well, but two or three years from now, if you're right about it, that might not show up just in s&p gains. so it's weird the way that they do it. it has to do with how good you are, but that doesn't necessarily correlate with the terms. >> dominick, you made it through. you're no longer a squawk virgin. we appreciate it this morning. >>> at 8:15 east

he's chief investment strategist at raymond james who was right but got -- you got less bullish recentlyt you? >> well, we had some timing points in mid july. >> yeah, say yes. just say yes because i remember. you were right before then. >> yes. >> all right. all right. well, okay. we'll talk in a second. on the economy, bob joins us on the set. he's co director of the jorhns hopkins financial center. you don't think of johns hopkins as financial. >> i have to go defend my thesis and one student said, i thought at hopkins you are a med student or a stupid lacrosse player. >> i've known you for -- >> too long. >> last time the bengals are in the super bowl i think i knew you. well before that. early '80s. i was kidding, jeff. you were very bullish and right when a lot of people were not. when did -- it was about -- was it four, five months ago you thought maybe we were going to have some tougher sledding? we did, i guess, for a while. we reconciled a lot of that with congress and everybody else, now we're higher. explain what your thinking was and what it is now. >> the timing model showe

raymond james is usually there. some of the more localized firms. i want to let you know that i pointed that out. >> thank you vemp. >> what's your year end target for the s&p. >> i don't have targets, joe. if you go back and look at what the best and brightest they were saying in the end of 2008, they were so far off the mark. i think we will be higher at year end than we are now and i think we'll be higher at the end of 2014 than we will be at the end of this year. i think the chances we're in a secular bull market are high. >> that will be -- if we knew that for sure, that would be something because we'd be above 1700 at the end of this year and then above wherever that is at the end of this year. you're not looking for 20% next year but maybe somewhere up around 1800 on the s&p? >> i think you're looking for 12% earnings growth year over year between this year and next year and it wouldn't surprise me to see the market track that as well because multiples, they might stay where they are. >> naerman, what is janet yellen going to do, do you think

and buffalo wild wings is under pressure after raymond james ed it from outperform to strong buy.ore demand environment for the restaurant industry in general. and i've got to say, i love wings, i don't know what's going on there. a partial government shutdown is in effect. and scott cohen is live at johnson space center in houston where only about 6% of employees have been cleared to work. scott, good morning. >> reporter: good morning, andrew, those were the employees necessary basically to protect life and property. include people who support the international space station which is still orbiting the earth. and you wouldn't necessarily know it to look at the johnson space center right now that it is subject to a wide-ranging shutdown here because people have been arriving. they started arriving before sunrise. a lot of these people are contractors. there are presumably some employees who are finishing up matters before they are forced to leave. but this could very quickly become a very quiet place. and it is a big economic engine for this part of texas, certainly not the heigh

dagen: let's bring in james raymond, assistant editor of the wall street journal editorial page and them member of the editorial board. great to see you. is the fight over the debt ceiling going to look like this? >> it could look a lot like this. now and then, a bunch of bank ceos persuade the president to go for some entitlement reform to end the stand off. connell: we should worry more about it. we default on any payments from the debt. and prioritize other things first. >> a week from now republicans stage a retreat and accept a clean fund the government except obamacare and after that they're not in the mood to fight any more. but they have been talking all along there was one that they want to do a deal land hoping to get some kind of reform out of the president. dagen: this is the government we have now. is it only going to get uglier? looking past the debt ceiling until the next presidential election? >> i would think. you look at the history, and the rhetoric, compared republicans and administration compared republicans to terrorists. i don't know how you operate a government th