dearest investors, buy sandisk, sndk, sincerely, the market! buy sandisk.his much-loathed stock is the purest play on nand flash memory. and with a clue like this, it cannot be ignored. this company is a huge mobile internet play, because it makes the chips that all these devices use to store videos, to store songs like you know when you store lady gaga, right? i mean, everyone's storing lady gaga, or everything else. and since new smartphones have more and more storage space, that means there's incredible demand for the nand flash chips like sandisk makes, just like we heard from novellus. this is the right part of the product cycle. remember everything trades in a cycle. we need to own this stock when it's at this point in the product cycle. now, i do worry that sandisk is so despised by so many people that people might ignore the evidence until it's too late. how hated exactly is sandisk? last week, morgan stanley put out a note raising estimates and saying the company will likely beat the street consensus expectations when it reports earnings next wedne

eli harari joining us, co-chairman and ceo sandisk. hearings on both the tarp plan, pay to play, among the big topics discussed in washington today. we're going to get into it when we come right back. don't forget, cnbc will be carrying president obama's primetime press conference tonight join us live for those comments on health care at 8:00 p.m. eastern for the president. [ engine revving ] [ engine powers down ] gentlemen, you booked your hotels on orbitz. well, the price went down, so you're all getting a check thanks. for the difference. except for you -- you didn't book with orbitz, so you're not getting a check. well, i think we've all learned a valuable lesson today. good day, gentlemen. thanks a lot. thank you. introducing hotel price assurance, where if another orbitz customer books the same hotel for less, we send you a check for the difference, automatically. in these markets, i'm glad i turned to fidelity for an annuity with guaranteed income for life. that's right, guaranteed income for life. my annuity from fidelity mean

but the semicondtor sector needs see confirmation from texas instruments, a, sandisk and brdcom. en it comes to hardware, del is falling way bind its rivals. one of them,bm, raised its ouook for the year, but it said the economic envinment remains tough. analyst thomas smith ostandard and poor says i.b.m. and wlett packard are the stocks to watch here. >> both thoscompanies have dirsified into services and through thisownturn their nishment on the revenue line if you will, haseen less severe than i think it might have been had theyot been diversifng over the last five years anthat's helped steady their ships anthey now look like strong strategic modethat working prty well. >>eporter: two other tech giants report this wee apple tomorrow and microso on thursday. analysts s investors need to focus more on what these companies say abouthe future than what they say abouthe past. apple is as much a phone a consumer electronics compa as it is computer firm these days. microsoft's port will be noted for itprojections about upcoming sal of its new operating systemwindows 7, and for progre

but the semicouctor sector needto see confirmation from texas instruments,md, sandisk and oadcom. when it comes to hardware, dl is falling wayehind its rivals one of the ibm, raised its tlook for the year, but it said the economic enronment remains tough. analyst thomas smith of stdard and poor's ss i.b.m. and hewlt ckard are the stocks to watch here. >> both those coanies have diversied into services and through this dowurn their puniment on the revenue line, if you will, has beeless sere than i think it might have been had they noteen diversifyingver the last five years and th's helped steady their ships and th now look ke strong strategic model th working prettyell. >> repter: two other tech giants report this week. ple tomorrow and microsoft o thursday. analysts say iestors need to focus more on what these companies say about thfuture than what they say abo the past. ple is as much a phone and nsumer electronics company a it is a couter firm these ys. microsoft'report will be noted for s projections about upcoming ses of its new operating syst, windows 7, and for progress by i

think about sandisk. let's go to russell, also in texas.er: this is russell from waco, texas. >> russell, you had me fooled. >> caller: my question is about the newly discovered product grasine. it's a very hard, durable material that seems to be on the rise for technology and electrical storage. any plays on that you can think of that would get me ahead of the curve? >> like -- like the shamwow? i'm just kidding. actually, you know what, that's a joke. that's an info mercial joke. that's a joke. i don't know it. i don't know it. that's why i told the joke to take the pressure off while i was trying to think, do i know it. i don't. we'll do an analysis. we'll have an answer next week for russell. okay? just cut it out, right? you can slice that out. dell and nokia are in the sell block. they may be at the dark end of the street, but apple is at the bright side of the road. van morrison rocks. we'll just cut that thing out. you promise? okay. stay with cramer. >>> coming up, an all new "lightning round." when you're really in pain relief can

multiples of things like, even something like a retailer like ebay, you don't have to do something like sandiskgh i think it would be a great speculation going into next week's earnings. but when you look at a cisco, which is the bellwether, i want to warn people that tech is going to come back, but you have to avoid some of these smaller, commoditized names. we're big in altria, which is the domestic phillips morris. i love sarah lee. i even like burger king. a couple days ago, they said, we're not even going to do a dollar menu because we don't need to. so you've got to take a cue from some of these companies. >> that's an interesting point. peter, how long-term of a bear are you here? obviously, you must not see anything turned around in nine months, otherwise, people would be buying stocks right now. >> since the march lows, i've been bullish on commodities and the impact that has on emerging markets. i'm bearishn't u.s., bullish on south america. bullish on asia, bullish on the emerging markets of eastern europe. the u.s. is going to grow below potential for a few years. we're going to get

sand sandisk up 20%, and ibm up north of 12% themselves and then the nesto shutdown trade. utility, telecom, understandably and predictably, lagging this market, up 2 or 3%. earnings central now, for more, melissa francis.s. >> all right, matt nesto, thanks so much. we've been reporting ge's profits fell by more than half while citigroup's primary banking business continued to suffer. and bank of america's credit losses soared. joe concernin and scott cohn are here with me at earnings central. mary thompson is on the sit group conference call, monitoring that and other calls all morning. that's not her desk, but looks like it's her desk. we're going to back to her in a bit. from san francisco, we have the president and portfolio manager of the permanent portfolio fund. let's start with joe. so the banking scene kind of continuing. bank of america, you know, revenue there soared by, what was it -- it was like 60% or something, right?? >> yeah. you've got some troubling things in addition to what looks like a pretty good number. the 33-cent number was good.. it's nice to see

meantime, the biggest losers, cit group, sandisk, and flir systems.he battle over michael jackson's will will focus on his most valuable asset, his publishing rights to the entire beatles catalog. it proved to be his savviest business move ever, and now wall street wants in on the global music rights business. cnbc's jane wells has details on a new music deal. hey, jane. >> hi, rebecca. is it the michael jackson effect? the music biz has been in the dumps this decade, but reports say a new joint venture between bertelsmann and kkr is buying an 8,000-song catalog, which includes some toxic assets. ♪ baby, can't you see ♪ i'm calling songs include britney spears' "toxic" and baha men's "who let the dogs out." and ricky martin. the catalog is valued at $80 million. and it's part of an investment division of cargill. who knew? the sale will reportedly double the number of songs for the new bmg kkr venture which was announced this month. music industry attorney alan bergman says song catalogs have recently attracted wall street money because they can earn

ladies and gentlemen, get to know sandisk, sndk. you know the ticker. you know the company.the world leader in flash memory. jim cramer talking it up last night. the market pushing it up here again for the sixth consecutive day. look at that jump, baby. 30% in six days. if you take a look at the one-year chart, you'll see this thing is now trading at a nine-month high. they'll report earnings next wednesday. after the close 22 cents on 700 million. a 22-cent loss on 700 million is the forecast, with jc upstairs thinking, they could probably come in with a better than expected result based on what we've been hearing in the flash memory space for lack of a better term. so flash and san disk, loving it right now. back to you guys. >> all right, matt. thanks so much. giving a nice lift, by the way, to the semiconductor index, which is up just shy of 2% today as well. after some strong upward momentum in the markets over the last three days, does this rally have more room to run? time now for the "fast money" final call with jared levy. he is senior derivatives specialist at peak

sandisk, meantime, getting an upgrade over at thomas weisel. up almost 5% right now. essentially upgraded to a buy. google, meantime, a lot of estimates raised there today. the stock is up 2.2%. they report later this week. but that whole operating system battle with microsoft is heating up. microsoft said to be putting some stuff out on the internet later this week as far as the o.s. is concerned. 3.3% to the up side is microsoft. and there's also that battle brewing between microsoft and yahoo as far as, well, internet search goes. bing obviously out there. it's the newbie. and then you have yahoo, which is the old school search engine. been out there for a while now. well, you have a couple of analysts coming out saying they're looking at the market, bing has beaten yahoo on a couple of days. they don't say it makes a trend, but at least for a couple of days more people searched via bing than they did via yahoo. still, those shares are strong. where we do see a little weakness, in the likes of dryships, the dry bulk shipping company, 1 1/2% to the down side. and yo

and then sandisk up 20% in the past five sessions as well. so no question a very strong and interesting week. but boy, we've got some tough sledding ahead of us. maria, no question about it. >> all right, matt, thanks very much. pretty good week if you're a bull, that's for sure. matt nesto, have a nice weekend. we'll see you a bit later. general electric, meanwhile, the parent of this network reported results today. ge earned $2.6 billion for the quarter. that was 26 cents a share in the second quarter. it was 3 cents ahead of expectations. take a look at the per share numbers. revenue, however, was down 17%. the company generated $39 billion in revenue. that was about $3 billion short of estimates. cnbc's senior correspondent scott cohn is at earnings central right now at the nerve center with more. scott? >> maria, general electric chairman jeff immelt said on a conference call this morning he's feeling good about the quarter and in particular the embattled ge capital segment even though its profits fell 80% from a year ago. but it eked ou

qualcomm, sandisk all getting hit pretty hard. especially relative to everybody else. it's a guidance issue. when it comes to the earnings report. going to talk to their ceo in just a little bit. to the up side. they made money. united airlines will be cutting 9,000 staff for the rest of 2009, but jet blu a strong one on the day. >> it's interesting how much oil traders are talk baernings these days as well. they're watching the earnings because they're following the stock market and the fact that we have the rally today in stocks, part of the reason why, we're looking at oil prices that closed today above $67 a barrel. it is the highest price we've seen since the beginning of july. coming back to those early july figures and up about $12 just since last monday. we're also looking at gasoline as a very important factor leading oil higher today. the gasoline rally really has a lot to do with the fact the refinery runs have come down sharply over the last few weeks. down 2% in the past week. and that perhaps leading to tighter supplies over the long run. and that is list

and the one negative, by the way, chips, qualcomm, and sandi sandisk 12.7% to the down side. sharon at the nymex. >> the way wall street is reading the reports, we have the housing data and that is certainly helping oil prices, which is pushing toward $67 a barrel. but the other factor helping oil is gasoline. we're seeing a nice rally here in gasoline futures. and that has been brought on by the fact that refinery runs continue to be cut. they're down about 2% in the past week. and that means a lot of refiners not making much money on their margins, and so they are cutting production. and that leaves a lot of folks to believe there is going to be less product out there on the market. both gasoline and heating oil. we're looking at heating oil cracks also rally strongly today. the heating oil prices also higher. but natural gas, not so much. the industrial demand that folks need to see for natural gas to heat back up, well, that is not happening right now. and that is weighing on natural gas prices. we get the report from the energy department about supply basically in line a

sandisk, invidia, marvel technologies. best performing group in the s&p 500 today, technology.he "fast money" gang talking about the titans after the bell, what the traders take. what do you think the street is saying. sue? >> we find out with jim goldman. he joins us with a bit of a preview of those. hi, jim. >> hey, sue. yeah, good afternoon to you. big reports, as you've been following tonight after the bell and the question for investors now, can ibm and google build on the big knew from intel earlier this week. ibm will give us a good they will give us a window into the global enterprise and largely a services customer. ibm has been able to use that revenue stream to insulate it, but the outlook will be key. there was a bold downgrade on limited upside from $120 a share target on that company. analysts expecting over $24 on $24 billion in revenue. at gaggle, this company has been in rally mode up until today. mostly because expectations into earnings are so low. some think the company will have no trouble meeting or beating numbers. a miss unlikely that that might be. the

sandisk, good on the top end. guidance, again, issue, again, investors. it's about what's going to happen moving forward with the consumers. same with sitrix. at&t, i wanted to touch on apple and palm in terms of handset, not a lot going on with that. let's go down to sharon at the nymex. >> oil gains could not continuer forever. we have seen them breakdown here. we had weakness again today but off of our overnight lows. again, equities could give some direction to oil prices today. we'll continue to watch the earnings picture. and diamond offshore ceo on "squawk" earlier today saying oil prices to move higher with demand coming from china. where the strength of the market has been recently has been natural gas. natural gas prices up about 8% in the past week as those drilling counts have declined. we're looking at natural gas storage levels increasing in the past weeks, less than that they did a year ago. the metal picture make the copper hit the 2009 high yesterday. profit taking today. copper, again, leading the way for the metal. rick santelli to you

if you want to check out sandisk, as well, the company blew expect ages out of the water.y reported earnings of 36 cents. analysts had been looking for a loss of 16 cents. >> is that really right? that's unbelievable. >> that's what it says on the chart, so it must be right. >> yeah, exactly. and then the shares dropped after hours. maybe it was the forecast. >> it was the forecast. also some comments that new supply could actually appreciate why you pricing. and then they read about some of the details and heard about that. >>all come beating the treat. the shares came under pressure as revenue, the outlook missed estimates. now to breakfast burritos. >> your favorite. yeah. chipotle. not enough of these around. revenues fell short. same-store sales disappointed. as a result, the stocks were down after hours. >> i have not made it to one. >> what's the other one, something fresh. >> baha fresh. >> had that stuff. a little too fresh for me. >> how can it be -- oh, wait. i know how it's too fresh. what did you eat? taco bell that was three days old and you stuck it in the m