scott mcgrew, thank you for the update. >>> we are dealing with fog in the bay area. let's go to christina loren with the update. >> san francisco is known for fog. we will see the sun come out. it will take a couple of hours in the city. by 1:00 p.m., it will be clearing. you can see that vividly. in san raphael, you are seeing complete sunshine. we are waiting for the sunshine in san jose. 58 degrees in san jose because of the low clouds. it's chilly for now. we have high pressure still very strong and that's going to bring your numbers up toward the 70s. it will be comfortable today once we get rid of the fog. we will get rid of the fog except santa rosa. you have pockets of .50 of visibility. you want to travel carefully. 77 in livermore. 71 in fremont. 71 in san jose. 68 in san francisco. we will get more of a trick than a treat with the halloween forecast. showers on the way. sun goes down at 6:30. that's when kids like to go out. you probably want to make plans that are early this year. we stop the clock at 5:00 p.m. moderate rainfall. showers north of the gold

back to you. >> scott mcgrew will be on the move. thank you very much.hristina loren. >> no kidding. with the rainy weather, christina loren has a lot going on in your department. >> good morning. excited about seeing the clouds clear over the mountains. can't wait to see those snowy whitecaps in the sierra nevada. for us, this is san jose. we still have some clouds around. not done with the rain just yet. we are done with the heaviest of the rain. as we get through tonight into morning, another wave is on the way. still tracking lingering activity right now. alongside 80 if you're head into the tracy, slick conditions there. this is what we're watching for you. this is the front. for the most part, pushing into central and southern california. but look at these spotty clouds. we have a cold air mass that's going to settle in and keep the temperatures in the 60s inland, just about all week long. you're going to need your coat each day as we're now getting into our rainy season. our next round arrives at about 7:00 p.m. from santa rosa down to novato, lig

as our scott mcgrew is telling you, the stock market will reopen in just a few minutes after being closed for a couple of days. mayor bloomberg is expected to ring that opening bell at 6:30. laura. >> marla, because of sandy, the red cross says 11 states had to capsule more than 100 blood drives. now the red cross in oakland is stepping up to help fill that bay. it's calling for anyone in the bay area who can roll up their sleeves to donate blood. >> you got to help when you can. there's so little from this far away. >>> the next brolood drive wille tomorrow at the california arts in oakland. >>> ex-experiments say the superstorm won't be affecting gas prices here on the west coast. in fact, gas prices have fallen as much as 81 cents a gallon. prices could end up dropping 25 to 35 cents. more within a few weeks. that is some welcome news. according to aaa, a gallon of regular will cost you 4.25 in san francisco. 4.06 in san jose. 4.10 in oakland. >>> we told you about it, the giants victory parade is today. >> with a look at the weather, let's go to christina. a throng of fans are there c

i'm scott mcgrew. there is no logical way to introduce my first guest, a successful entrepreneur without the context of his biggest failure. jonathan abrams built friendster, the first real social network, already online and working when mark zuckerberg was waiting to hear if he'd get into harvard. >> and each person on friendster has a personal network, which are all the people you're connected to through your friends and their friends and their friends and so on. >> we first caught up to jonathan in 2003 in this news report, nearly ten years ago, tape hits and all, where he tried to explain social networking. >> immediately connected to all that, friends, and other friends and people through them, and then you can invite any friends that you want to be on friendster with you. >> friendster, then in beta, would eventually flame out for reasons so complex there are actually business classes about its failure. lesser people might go into hiding after that, but not abrams, who went on to open a nightclub

. >> scott mcgrew has been following this story for us from start. scott, actual evidence here?nce allegedly that we're not allowed to see. yesterday the house select committee on intelligence leveled very serious allegations against chinese tech companies waway and zte saying the american government and american companies should not buy electronics from these organizations because of their ties to the red army and the chinese government. they will turn over evidence to the fbi. the companies deny breaking any american law. >>> mcafee will layoff workers, this according to reuters. we're not sure how many. mcafee purchased by intel last year. intel pointing out that company hasn't added a job in california in ten years. the computer industry is suffering badly because of the popularity of tablets and smartphones. >>> a new ad asks why san francisco is home to so many tech companies but isn't very tech friendly to its citizens. for instance, why no citywide wi-fi. the city organization sfciti run by ron conway proposes a series of technology-based solutions to those problems, lik

rethinking its whole business model as people move away from computers and more towards the tablets. >> scott mcgrewout this all week and the change in computing and its effect on the local companies. scott. >> good morning. today is the day this could really hit hard what we've been talking about. we don't know, but we have heard from several sources that sunnyvale chip maker amd could announce absolutely huge layoffs today. again, this is partly from talk from company insiders, it's partly reliant on other reports from other newspapers, "the wall street journal" and honestly part gut instinct. companies often release big news when they release financials. the chip business has been very tough lately. intel recently point out it hasn't added a job to the state in ten years. amd has been warning about its financials. you know chips put the silicon in silicon valley, but amd and intel don't make the chips that you find in iphones and ipads. so there's your problem. >> that's kind of amazing how quickly things change here. thank you, scott. >>> 6:55. some high-flying stunts going on in san francisco t

scott mcgrew is in our newsroom with what caused that sudden drop. good morning, scott. >> reporter: good morning. publicly traded companies like google have to issue financial statements once a quarter. there's a darn good reason they do it while the stock market iclosed. of t the timing allows people to look through these numbers before making a buy or sell decision. google blew it when one of their contractors accidentally released google's numbers right smack in the middle of the trading day and there was bad news inside. google's expenses are up, it's advertising revenue weak and investors didn't have time for that deep breath. they sent the stock down more than 10%. obviously google's financials are very complex, but the takeaway is what we have been saying all week. this move to mobile is a huge threat to silicon valley companies. google depends on advertising. fewer people are clicking on those mobile ads. this is the same problem for facebook, which releases its financials hopefully at the right time next week. laura. >> we know you're keepin

scott mcgrew, you might have a little help for them? >> i do. invention pie a high schooler who took these tests himself. it's a watch. it's called the testing timer and i bet you can guess what it does. the watch knows all about the test. it knows there are five sections to the a.c.t. next weekend. it knows the english section is 45 minutes, 75 questions. math is 60 minutes, 60 questions. so not only does it count you down, it has a pacing timer with a visual cue that says you should be about halfway done now or whatever. it's $39. believe me as a parent, when you add up all the money we spend on tutoring, i'm looking at you, sylvan, it's not very much money to ask. this watch is for next weekend's a.c.t. there's a separate one for the s.a.t. because they are smart. they do know all about the test. i think the coolest feature is that idea about the pacing timer, a little like jogging. i should be about halfway by now. that's cool. >> i remember those days. >> i think that's a good idea. the way we can really get rich is to figure out a watch to

we begin with scott mcgrew this morning live in our studio.s got the very latest on the financial markets that are closed again due to that superstorm. >> good morning, laura. it's 6:31. a minute ago the new york stock exchange should have opened for trading. the last time the nyse was shut down for more than one day was way back in 1888 when there was a huge snowstorm with drifts that piled so high no one could get in. with a look at the markets, we'll bring jackie deappearing le -- jackie deangeles on this from cnbc. i imagine nyse is working on a backup plan here? >> reporter: they are. in fact they do have a plan they are working on. the nyse will start testing a new contingency plan today. that testing started at 8:00 a.m. eastern time and will last until noon. the plan will make trading possible electronically on the arca exchange but we're not sure if the contingencies will be needed. there is a lot of damage and flooding in lower manhattan. the hope is to be able to get into the building. that will all depend on not only how the nyse f

business and tech reporter scott mcgrew joins us live outside the california theater in san jose this morning. scott, today's announcement aimed at the only serious competition that apple is said to have in the tablet game? >> reporter: that's right, exactly. against amazon and the smaller tablets. you were mentioning the hype. i'll willing to show you behind the scenes if you want to, laura. this is what it looks like as lots of different crews are getting ready to cover this apple announcement that will come at 10:00 a.m. our time. so the hype certainly still paying off for apple, even though, what was it, a couple of weeks ago we looked at the iphone 5 and only a couple of months ago we were talking about ipad 3. in this case we're talking about, we suspect, the ipad mini. the only real question here is how much is it going to cost and when will it be available? we know they're already being produced overseas in china, so it could be very soon. laura, the big question on the cost is apple is trying to compete with amazon, which essentially sells its kindle at a loss. is apple willi

back to you. >> no wonder scott mcgrew has been doing pushups and situps all morning long.e's going to be a busy man. >>> busy when it comes to the forecast as well. meteorologist christina loren is keeping up with all of it. >> yeah, we have got a very wet commute. we want to make sure you're aware of it before you head out that front door. it has been dry. one region of the entire bay area, the south bay. everything is changing as we speak. live picture shows you the dark clouds have moved in. your realtime doppler radar revealing showers light right now have moved into san jose. the moderate rain just about 15 to a half hour away from san jose. now, i widen out for you just to show you the general nature of this storm system. it's actually pushing very quickly. we've got showers racing through fremont right now embedded within the green. you see the yellow and red that's heavy rain in fremont. count on a slow commute there. you really want to travel cautiously. up in san francisco -- i'm tongue-tied because i'm tracking these storms and they're moving so quickly this mor

scott mcgrew joins us now. scott, some of those cities' names are a surprise. los gatos, santa clara, for instance, largely financially healthy. >> yeah, but they're in california, laura. that's enough to raise concerns because cities do depend on states for some funding and california is not a state you can depend on. city debt is a concern all over the united states. while we've gotten through home debt, national debt will be solved one way or the other this january when we hit the fiscal cliff, city debt is still that great unknown. >>> former general electric ceo jack welch defending a tweet when he accused the bomb administration of faking the job numbers. he said he feels he flilives in communist country because of his views of the government. shortly after the unemployment rates had fallen he tweeted unbelievable jobs numbers. those chicago guys will do anything. can't debate so change numbers. welch did later say perhaps he should have added a question mark to the end to show he was raising the question. even republicans are publicly distancing themselv

scott mcgrew has been monitoring this.seems even the dismissal is shrouded in controversy. >> reporter: she says she's been fired. kleiner perkins says she wasn't. the junior partner claims on a website posting this morning she was, quote, terminated. and told to clean out her office on monday. she's in the midst of that sexual harassment lawsuit against the firm. in a statement this morning, kleiner perkins says the woman is still an employee. though she's being transitioned, in their word, from the company. we can say the woman's picture and buyography are still on the website so the controversy continues. here's a face we haven't seen in a while, jackie deangelo, live at cnbc world headquarters. >> the futures are higher this morning after we saw a mixed day yesterday. the dow slipping as investors started to turn their focus and concerns to the upcoming earning season. also, europe remains in the spotlight as well as traders are mulling spain's rekwecht for a bailout it the european markets are higher this morning. her

scott mcgrew is hearing apple will extend the return policy from 15 days to 30 days. they will exchange the ipad 3 and now tired and old worn out technology for the ipad 4. >>> microsoft released windows 8 and now a tablet computer. it is designed to make desktop and laptop computers work more like tablets. microsoft will release another version of windows 8 for smartphones. microsoft surface hits store shelves today. the service starts at $499 and run a modified version of windows 8 and the display is slightly larger than the ipad. >>> the countdown continues. 11 days left before voters can officially declare a winner. president obama and governor romney working very hard for their money and votes in the battle ground state of ohio. we have tracie potts with the latest on the race for the white house. >> reporter: president obama is back at the white house this morning after hitting eight states in two days, including something we have never seen before. >> you are right. >> reporter: a president voting early. >> it means you don't have to figure out whether you need

scott mcgrew, not a much smaller price. >> that was the surprise, that and they introduced ipad 4. the ipad mini was the star of the show. >> this is ipad mini. >> apple says the least expensive ipad mini will be $329. that's significantly more money than the price of other small tablets it's supposed to compete against. and more than we expected. for instance, the kindle fire is half that much money. shares always fall after a big announcement. but this was a bigger drop than usual. we suspect because of the worry over the mini's price. san francisco gamemaker zynga reports its profits today. the news is going to be ugly. we already know they will cut staff. the ceo says the company will shut down some games as well. we don't know which ones at this point. they had a brief shining moment but never quite lived up to hopes. it was a rough day on the stock market yesterday. let's turn to hampton pierce sp. he's live at cnbc headquarters with more. good morning, hampton. >> how you doing, scott. after that rough day yesterday, futures are higher after the big sell-off. that was sparke

and sat down with business and tech reporter scott mcgrew to talk about how they came up with their ideas>> such a mix to pull from. we have the internet, full of misinformation all of history to pull from. myths from 400 b.c. >> can you catch the full interview coming up tomorrow morning on "press here" that's right after "meet the press." >>> and let's check in with rob and the beautiful weather today. >> yeah. it's been a nice change. yesterday we only had highness the mid-60s. clouds never really wanted to leave. the complete opposite for you this evening as we take you outside. san francisco, of course, this time tomorrow we'll be watching the national league championship series. the game will get started at about 5:15 tomorrow evening. look at that view. you see the giants flag around. low clouds west of the golden gate see some of that spilling in later tonight into tomorrow morning. now, today's highs, pretty nice. almost, no matter where you looked, you found 70s. even san francisco. 74 in oakland. 76 called in to us by weather watcher steve there in south san jose. 72 in morgan

scott mcgrew does here this herf the secret tech center. >> google has launched that web site to show off. here is where your google question goes to server farms like this one. one blogger said it reminded him of "the matrix." larry wise made his first public appearance. page has been missing from press conferences. all we knew he lost his voice. when page showed up at tuesday's conference and actually spoke, that was worth noting. >> i really want you to have a great experience and we want to be innovative on hardware and software. >> nice to see him getting better, but many members of the press and analysts community want more information about what is wrong with mr. page. another ipo on the market. shutterstock on the right selling shares for the first time this morning. last week, we saw the debut of workday. the biggest tech ipo since facebook. back to you. >>> thank you, scott. a big time set back for team oracle getting ready to defend the championship. it is hauling the wreckage back after a boat capsized on the bay. we have arturo santiago live with the details. >> reporter:

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scott mcgrew continues our coverage. scott, for the first time in more than a decade, exchanges are shut down as well. >> that's right. the last time was the september 11th attacks, so pretty good indication of how serious sandy is. the new york stock exchange, the nasdaq came to an agreement last night, late last night, to close today, possibly tomorrow as well. the people you see here, the market makers on the floor of the new york stock exchange, just simply can't make it into work today because as laura points out, there are no trains moving in new york city. now, truth be told, in 2012 most trades are electronic, they don't involve human beings, therefore, they're relatively immune to the storm. but if we say the markets are 98% electronic, that still leaves 2% that isn't. so the things like the lack of order confirmation, clearing houses, that would be enough to throw things off pretty badly, so they are closed. >>> several companies, including google, have cancelled press events. google was to announce a new phone

scott mcgrew, that announcement coming literally while people slept. >> at 1:00 a.m. our time. it's tough to coordinate new york, tokyo and kansas where sprint is located. if you are a sprint customer, nothing should change, certainly not right away. soft bank is not a bank, it's just an -- the english version of a japanese name, so there you go. the purchase is interesting because it is the largest japanese purchase of anything outside of its borders in its history. it comes at a time when the u.s. congress is warning about chinese access to our telecommunications system. >>> more reports this morning that layoffs at sunnyvale's chip maker amd are indeed coming, this time from the "wall street journal." amd makes chips for computers and computers are suddenly kind of unpopular thanks to the smartphones and the tablets. amd reports profits on thursday, but last week warned about its financials. >>> let's turnpike to courtney reagan now at cnbc headquarters. >> reporter: good morning to you, scott. futures are higher after the markets turned in their worst week from the beginnin

scott mcgrew joins with us that. >> you may recall facebook experimented with the idea of using people's profile pictures in advertisements. for instance, if i click the like button on ford motor company, your timeline would have an advertisement up in the corner with my name on it endorsing ford. facebook users sued. facebook stopped and offered to pay a charity millions of dollars as a way of saying sorry. not good enough so facebook is offering $10 to anyone whose picture was used. this idea will go back in front of a judge. >>> santa clara based anti-virus company mcafee will layoff workers. this according to reuters. they were purchased by intel last year. the ceo pointing out the company hasn't added a job in california in ten years. the computer industry is suffering because of the popularity of tablets and smartphones. >>> let's get the rest of the news before the bell. we turn to courtney reagan this morning. she's live at cnbc world headquarters. good morning, courtney. >> reporter: good morning to you, scott. futures are lower this morning as investors hear the imf cut its for

you know apple fans love surprises but scott mcgrew says not all surprises. >> when apple announced the ipad mini, it also announced the ipad 4. stop for a minute and imagine you just bought the ipad 3, which was brand new. apple just announced that in march. you would be a bit irritated that you have old technology. so apple stores we hear are extending their very generous return policy from 15 days to 30, and they will exchange the ipad 3 and its old, old technology, seven months old, for the new ipad 4. this according to bloggers. now, this has happened before. it's hard to imagine, but when the very first iphone came out in 2007 not a lot of people bought it because it was so expensive. so just a couple of weeks in, apple dropped the price by $200. that made early iphone buyers really angry. apple made up for it by giving them itunes credit. >>> apple will report profits after the closing -- >> reporter: hey, good morning, scott. apple's troubles have been as far as the stock has been part of the problem for the markets. we've got the futures trending a bit higher this morning. we h

business and tech reporter scott mcgrew have ts the story. good morning. >> reporter: good morning. the iphone 5 was announced last month. the distant past. the last time you paid the mortgage, it has been that long. apple sending out an invitation saying we have more to show you. this happening next thursday in san jose. the hint is we're talking about a smaller ipad. really more than a hint, news of a smaller ipad has been leaking out of apple for a long time. amazon has had success with the tablets and apple wants a piece of the business. not to be outdone, microsoft showing off the surface tablet. this will go on sale on friday, october 26th. it is $499 or about the same price as the full-sized apple ipad. apple shares are up 2% on the latest announcement about the announcement. jon. >> scott, thank you very much. we appreciate it. >>> another huge story to talk about. a landmark decision could come in on how the country could view medical marijuana. the u.s. court of appeals in washington, d.c. will hear about how the government will classify the drug. christie smith has all of

scott mcgrew is talking gadgets. >> the same item from the guy who developed the ipod. >> a new thermostathinner than the older one. here is video of the new one. these are cool. they learn your habits. if you are constantly turning it up at night or when you come in the house, eventually, it will turn itself up. it is controllable on your iphone. do you suppose people will run out to buy a thinner device because it is thinner? even if their old device works perfectly fine? it worked for apple. here are some crew of the "uss michael." they are on the stock exchange. the dow jones industrial average is down slightly this morning. google down as well after hitting another all-time high yesterday. back to you. >>> what goes down must come up. >> that is true. >> speaking of that, the weather is still going up. we will have a slope at the end of it. right, christina? >> a steep decline in the temperatures for the end of the week and weekend. over the next 72 hours, major changes ahead. i want to start with a live picture of the golden gate bridge. look at the people out there enjoying the weat

scott mcgrew said he happen to make history in the process. >> a president watching a debate and reactingtwitter? that's not been done before, much less the presidential retweet. we saw that last night as well. in a retweet from the president, that's a pretty big endorsement. among the comments he retweeted, a blog called upworthy. they were commenting on moderator martha raddatz question tough question. then the question, do you actually have the specifics or are you still working on it and that is why you won't tell voters? the president obviously impressed. workday started trading shares this morning after pricing shares at $28 last night. that gives the company $637 million. the biggest tech ipo since facebook. that fellow in the middle with the white hair that is david dutfield. he created peoplesoft. he sold it to oracle. the stock this morning up better than 77% in very active trading. back to you. >>> thank you, scott. i'm not sure if they busted 1 million myths, but the myth busters opens at the tech museum in san jose. i could not think of a better guy to check this out. we have

i'm scott mcgrew. thank you for making us a part of your sunday morning.

. >> scott mcgrew is here to explain. >> good morning.se like buttons are everywhere, not just on facebook. when you click a like button on a news article or picture somewhere else on the internet, facebook still keeps that data. that's a problem if the person doing the clicking is under 13. the children's online privacy protection act says you can't record what kids are doing online. so in a letter this morning facebook wants the justice department to consider the "like" button part of a free speech right instead of just a way to collect data. now, the irony in all this is kids under 13 aren't allowed on facebook in the first place but facebook is realistic here. it doesn't want kids as members but it knows it has kids as members and it is collecting that data. for right now that's contrary to the law. >>> russian prime minister dmitry medvedev welcoming facebook head mark zuckerberg to moscow yesterday. today zuckerberg will lecture at moscow state university. russia has a growing i.t. industry. in fact some of the biggest investors are

scott mcgrew, what's up with that? >> good morning. and thank you for putting up with my cold, by the way. apple is famous, jon, for setting fairly low forecasts, blowing past them. so when it actually meets its forecast in a weird way that's kind of a disappointment. apple said it sold fewer ipads than analysts were hoping but you can blame apple to some degree because it's possible fans were waiting to buy that new ipad mini. devices are also getting more and more complex to build, that's cutting into profits. now, coincidentally samsung reported profits too. it's a reminder. we think of samsung as the underdog, but it's not. samsung sold twice as many phones as apple, twice as many phones in the same quarter. let's check in with cnbc, she can rescue me. good morning, bertha coombs. >> reporter: good morning, scott. very interesting, apple having to post this clarification that samsung does not impose on its tablets patents ordered by the u.k. courts but if you read it on the u.k. site for the most part they sort of say it's not as g

scott mcgrew, romney lumping tesla with solyndra. >> well, they're both green energy companies, both took department of energy loans and both are from a state where romney is going to lose anyway so the jab probably didn't cost the governor anything. tesla clarified some of the recent financial statements saying not only is tesla very healthy, it would be cash positive by next month. in fact it may pay off the department of energy loan early. tesla has always made its doe payments on time and never asked for a delay repayment ever. i don't know how to state this more clearly. >>> meanwhile hewlett-packard's ceo meg whitman says her company will take much longer to turn around than she first thought and make a lot less money than investors had hoped. that and concern over europe are hanging over wall street. jackie is live at cnbc headquarters with more. good morning, jackie. >> reporter: good morning to you, scott. well, the futures are modestly higher and this is after we eked out small gains yesterday. investors were first cheered on by data on private sector job growth but that wa

business and tech reporter scott mcgrew is live in san jose.cott, didn't apple just have an ipad announcement a few months ago? >> reporter: yeah, it did, jon. that was the ipad 3. it was about 225 days ago. apple has really begun to speed this process up. if you're thinking to yourself wasn't there one just a couple of weeks ago, the iphone 5. today what we'll hear about in the california theater in san jose, we suspect, is an ipad mini. and this will be historic in the sense that this will be the first product that steve jobs did not really have his hands on. in fact he rather famously thought a smaller tablet was a bad idea. but amazon proved that wrong. amazon has sold tons of those kindle ebook readers and the kindle fire in fact is the best-selling product amazon sells period. apple clearly needs to compete. so the big question, jon, will not be do they introduce the ipad mini, that's what they'll introduce at 10:00 a.m. this morning, it's the cost. will it compete well with the amazon kindle. will apple be willing to get rid of some of t

scott mcgrew, late-night decision to shut it sglodown. >> yes, very late night.ts haven't shut down since 2001 and haven't shut down due to a storm since ronald reagan was president and hurricane gloria. that storm caused $2 billion in damages worldwide. so of all the luck, today was the day that facebook employee could say finally sell that if shares. the lock-up ended. back in august, big money got to sell, venture capitalists, big investors, today was the little guy's turn. >>> red cross has set up a simple website where people can check in as safe and well. the website address is really complicated. it's easiest just to google red cross safe and well. >>> on a happier note, the second dragon capsule returned safely to earth over the weekend after a visit to the international space station so this is two successes in a row. they have got to be talking about putting a guy or a woman in that capsule. it's got to be coming soon. >> thank you for that woman mention there, scott. it's 5:55 right now. speaking of a good woman, let's check in with meteorologist chris

scott mcgrew has some for us, including sprint being sold while people were sleeping. >> yes, good morning, laura. 1:00 a.m. our time is when we got that announcement. it's time to find a convenient time to coordinate new york, tokyo and kansas, where sprint is located. they bad $20 billion to buy the american cell service provider. if you're a sprint customer, nothing should change, certainly not right away. soft bank is just the english version of a japanese name. the purchase is interesting because it's the largest japanese purchase of anything outside of its borders in its history and it comes at a time when the u.s. congress is warning about chinese access to our telecommunications system. some critics feel it's unfair to single out the chinese when the japanese are not or the swedes. erickson makes many of the cell phone towers that you use or deutsche telecom runs t mobile and metro pcs. >>> more reports of layoffs at amd. amd makes chips for computers. computers are unpopular these days, thanks to smartphones and tablets. if the reports are to be believed, the cuts would be enormou

scott mcgrew, this has some serious ramifications. >> good morning, marla. politicians, even silicon valley executives sometimes dance around this but congress is saying china is not really an ally. they will issue findings from a year-long investigation that says chinese companies are threats to national security. waway has officers in santa clara. the fear is the electronic equipment made by these companies which are backed by the chinese government can be used to spy on the united states. in a separate bit of news, san jose's largest company, telecom equipment maker cisco, is accusing vte of reselling equipment to the iranians in violation of u.s. law. cisco has ended its business relationship with zte. while the house committee on intelligence does not have the power to ban chinese communications equipment, it's warning that no one, verizon, comcast, at&t should be buying equipment from waway. >>> also in china, foxconn factories say they have the labor unrest under control. chinese workers were told take more care making your iphone. some americans repo

scott mcgrew, let's get right to it. >> good morning. system from microsoft, the feds meeting, google will show off new phones. that's all ahead. plus this afternoon we'll hear from sunnyvale's yahoo! as it opens its books to investors. that will happen right after the stock markets close. lots of pressure on this woman, new ceo marissa mayer. though if numbers are bad, we'll give her one last get out of jail card because the numbers will reflect yahoo!'s earnings july through september and she didn't take over till mid-july. >>> then you have apple tomorrow showing off a you ipad or at least that's what everybody expects. it's prospebeen more than 200 d since ipad unveiled a new ipad. so lots of things for the markets to think about. let's turn to bertha coombs live at cnbc world headquarters. a rough day friday. >> reporter: yeah, very rough day friday. we actually have the futures pointing higher this morning. on friday, though, it was a blood bath. investors reacting to disappointing housing data and disappointing earnings from micro

scott mcgrew, that's a very small increase. >> it is. good morning to you, jon. shouldn't matter if the government got it right, the increase which will be effective as of 2013, should match the overall inflation and thus be a wash for anyone receiving social security. of course it usual legal feels as if prices are increasing faster than income, but again 1.7%. >>> a bit of an amusing gotcha making its way around the internet over news coverage of felix boaumgardner's historic jump. as they go to the jump there, there goes felix traveling faster than the speed of light. this happens quite a bit with the speed of sound, which is what he broke. other common mistakes as you know, alan shepard often gets credit for being the first man in space. flags at half mast instead of half staff. as you rush through the industry, every once in a while you blow it. >> we're human. thanksscott. >>> 6:56. chick-fil-a is meeting fierce opposition over its plans to open a new restaurant in mountain view. some people living near the proposed site say opening the restaurant there cou

scott mcgrew, what do you think? >> probably wouldn't survive if it were just starting out. romney calling tesla a loser. >> solyndra and tesla and interone, i had a friend who said, you don't pick the winners and losers, you pick the losers. this is not the kind of policy you want to have. you want to get america energy secure. >> the companies like solyndra and tesla, the company had no comment on being called out, though tesla founder did say in a blog post that not only is tesla healthy, it would be cash positive by next month. and in fact, it may pay off its department of energy loans early. now, could it have gotten that initial loan under a romney presidency? probably not, given the loser comment. now, tesla says it has enough money to continue its work no matter who's president. but not everybody's convinced. here's cnbc's jim cramer this morning giving stock advice were romney to win. >> you would short the heck out of tesla. tesla comes out and provides an update today. but first solar and tesla are shorts in a romney administration. whoa. >> cramer definitely not

scott mcgrew joins us. the concern here is the devices could be used for spying. >> good morning. the theory is electronic equipment made by certain companies which are backed by the chinese government can be used to spy on the united states. the house intelligence committee conducted a year-long investigation and said chinese companies wa wfrnltsei and zte are a threat to security. the equipment is used in telephone networks, cell phone towers, internet server farms and other communications. in a separate but related piece of news, telecom equipment maker sysco is accusing zte of reselling equipment to the iranians in violation of u.s. law. reuters says sysco has ended its businessness relationship with zte. the chairman of the house committee on intelligence suggests no one, not verizon, comcast, at&t should buy equipment from wawei or zte. critics of the report say if congress is really being genuine that chinese products could be doctored in a way to stop spying, why stop at those two? after all, parts of just about any device including sysco's or apple's or hp's or any other

scott mcgrew says particularly to those who just bought an ipad. >> yeah, apple just announced it back you'd be kind of irritated you have old technology. so apple stores are, we hear, extending their very generous return policy. this according to bloggers. from 15 days to 30 days and they will exchange the ipad 3 and that old, old technology, seven months old, for the new ipad 4. >>> shares of facebook had their biggest one-day gain ever after mark zuckerberg assured analysts and reporters the company was making strides in mobile. shares were up 20% and that is tremendous news for facebook employees because after of monday they can start selling shares of the company on the open market. so they go from paper rich to actually rich. it's really a wonderful bit of timing for them and for car dealers in palo alto. >>> today is the day microsoft releases windows 8 on the world. this is the biggest update to windows since 1995 and windows 95. as you can see, it is a very different interface. you'll likely not see it at work any time soon. companies probably are going to stick to the old ver

. >> scott mcgrew, the president doesn't take a lot to retweet, does he?in case someone doesn't know retweet, it's the republishing of other people's comments on twitter and it's really the first time that has happened after a debate because twitter is not very old. let's take a look at what the president retweeted. he was talking about the debate itself and martha raddatz, she was the moderator. he retweets, wow, @martharad ddatz to @paul ryan vp, do you actually have the specifics or are you still working on it and that's why you won't tell voters? upworthy had the class not to spend the whole tight tweeting about the president retweeting them which i definitely would have been had hero tweeted me. >>> do watch the new york stock exchange as pleasanton-based work day starts trading shares. after pricing its shares at $28 last night. this will give the company $637 million in cold, hard cash. this is the biggest tech ipo, folks, since facebook. >>> you know that myth busters exhibit opens this weekend at san jose's tech museum where you can test out myths

scott mcgrew joins us with all the headlines. >> good morning. yahoo! has purchased stam. this is a small developer. we don't know the price. it will be very big. but the reason you care is why you mentioned. it's the first purchase under that new mayer administration. >>> apple will report profits after the closing bell today. the numbers will include the first week of sales of the iphone 5. apple accounts for a huge portion of the nasdaq index and the s&p 500. >>> and toutd's the day microsoft releases windows 8 on the world, the biggest update to windows since 1995.'95, it's a different interface. you probably won't see it at work anytime soon as companies stick to the old version, at least for now. reviews had been mixed. people liked the tiles that you saw, like a tablet. but it does mean relearning you've used for nearly 20 years. and we'll let you try it out tomorrow morning. back to you. >> sounds like a tall order for me, scott. thank you very much. >>> let's turn things over to meteorologist christina loren for a look at the forecast. lots of clouds out there. >>

and scott mcgrew said it was terrible. >> trading was halted this morning an extreme step after earnings were released prematurely. google says the printing company it uses accidentally sent out an electronic copy of the financials before the stock market closed. so that's problem number one. problem number two is google's numbers were disappointing. the stock plunged on the news. expenses way up, net income way down. now, to be mayor, when larry page took over at google, he can did warn he'd be spending lots of money and google has been famously google first, investors second. cnbc says you can tell the earnings report was not even finished when it was released early. there's a space in there for pending larry quote. meanwhile we wait on amd. we do expect them to release earnings on time and we did expect to see layoffs. >> okay. we'll wait for the pending information. thank you very much. >>> in case you missed it, meteor showers will continue to fill the skies. but something strange was spotted overnight which left a lot of people guessing. more details on what was nothing short of an

business and tech reporter scott mcgrew will be live at that event all morning long starting at 5:00 this morning. check our twitter feed for live updates during the announcement. that starts at 10:00. >>> we can also tell you apple's big announcement not the only thing silicon valley will be watching today. facebook set to release its earnings a little later on. let's turn things over to bertha coombs live at cnbc world headquarters. bertha, good morning. >> reporter: good morning, jon. we've got the futures this morning pointing to a lower start but we did that yesterday before a real turn-around late in the day. the dow managed to erase a triple-digit loss. the tech sector which has been under pressure for a week now was really the big catalyst of that rebound. no economic data on tap today but the fed kicks off a two-day meeting. an interest rate decision expected tomorrow afternoon. expect it to remain unchanged. we'll also get earnings reports. dupont was disappointing, united technology sales were a little light, 3m a little disappointing. harley davidson was good, kpxer bette

business and tech reporter, scott mcgrew, will have a lot more on this apple shakeup in the next half hour. >>> coming up, our breaking news coverage of hurricane sandy continues next, including how it affected "late night with jimmy fallon." >> i hope it didn't affect his history of rap. we're looking at the 880 freeway coming through fremont. i'll show you what else you can't see coming up. i love the concept of mentoring because you're really able to make a difference in the life of one young person. my mentor is a role model for me. she told me about all the opportunities that there is in life. she has transformed into an amazing young woman, and i feel so fortunate to be a part of that. i think a mentor can really open the eyes of a young person to all the possibilities that are out there for them if they just go after their dreams. so get involved and do your part, invest in the future, mentor a child. >>> welcome back, everyone. it has been rough on the east coast. this is a look at new york's times square, a virtual ghost town as they continue to assess the damage. the power s

though scott mcgrew says they're probably unique to just one industry. >> santa clarita-based anti-virus company mcafee will lay off workers. people are buying far fewer computers these days. now, mcafee was purchased by intel last year. intel's ceo the other day pointing out that that company hasn't added a job in california in ten years. the traditional computer industry suffering because of the popularity of tablets and smartphones. >>> speaking of phones, sprint says you can now reserve your own custom vanity phone number, like star star-marla or star star-johnny k.. it costs $3 a month. you keep your original phone number as well, but anyone using any cell phone on another service should be able to do that prefix, star star and then marla and then get marla. back to you. >> i kind of like it. >> it could work, wouldn't it? >> $3 a month. i can afford that. >> and star star works perfectly in front of your name. a big star. >> sure. >> and speaking of another star, christina loren is here. is it a five-star forecast. >> it is if those giants win. boy do we want them to get into the w

. >> scott mcgrew says not a much smaller price. >> that's right.was the one surprise, the price. well, that, and they introduced ipad 4. the ipad mini though was the star of the show. apple says the least expensive ipad mini will be $329. that's more money than the price of other small tab lelets it's supposed to compete against. now, apple shares nearly always fall after a big announcement. investigators buy on the rumor, sell on the news. this is a bigger drop than usual. we suspect it's because of the worry over the mini's price. now, apple says it will open up preorders for this new ipad mini on friday. friday. what a strange coincidence. that is the very same day microsoft's competing tablet, the surface, goes on sale. this is the first time microsoft has built a computer of any kind and it's pretty clear apple didn't pick that date randomly. san francisco gamemaker zynga will report its profits today and the news is going to be ugly. we already know they will cut staff. they will shut down games as well. at this point, we don't know exactly w

scott mcgrew, he looked well. >> he looked well. he didn't sound well.been missing from press conferences and earnings announcements. all we know is he had lost his voice. when he showed up tuesday at google's yearly conference and actually spoke, that was worth noting. >> we really want you to have a great experience and we want to be able to innovate both on hardware and software. >> you can hear him being very cautious with his voice. on a human level, it's nice to see that page is getting better. on a business level, many members of the press and analyst community would like more information about exactly what is wrong so we can have a better understanding on the leadership of google. but nice to see him back. >> yes, very much so. thank you. we wish him well. it's 6:55. you may recall 23 years ago today the 6.9 earthquake that shook the bay area. 63 died. thousands were hurt. now, live in san francisco where the city is turning the anniversary of the earthquake into a teaching opportunity. good lesson for all of us. good morning. >> good morning. we

scott mcgrew, a distinct possibility there's a trade war. >> there's a concern china will ban imports of american made devices most notably from cisco systems. saying flat-out companies should not buy equipment made by wawa and cte. canada this morning decided to ban waway equipment from its infrastructure. here's a sign of the times. we've been talking about the nobel prize. we just talked to the standard professor. the prize foundation has cut the size of the cash prize from 10 million croner to 8 million croner. that's about $1 million. there's only one country in the world that taxes nobel prize money. i bet you you can guess who that is. it's america. it depends on your tax rate but it's going to be a lot. >> a pretty penny there. all right, thank you very much. more news ahead. >> absolutely, live report, stick around. ♪ we were skipping stones and letting go ♪ [ female announcer ] nature valley granola bars, rich dark chocolate, toasted oats. perfect combinations of nature's delicious ingredients, from nature valley. ♪ nature valley granola bars, nature at its most delicious. c

scott mcgrew, are they ready? >> i think they are.bably always were, even at the height of the storm. the computers, infrastructure, probably would have held up even if the market s hadn't decided o close monday or tuesday. the issue really along has been people. how do you get people to the new york stock exchange. how do you get technician, to all the electric gear on the nasdaq. they can finally ask workers to return, at least some of them. facebook employees have their first opportunity to make some money today. officially their lock you on their shares ended monday but the marketings were closed. what sort of market are they going to go into? we'll turn to cnbc. not a lot of precedent here. what kind of day are we looking at? >> good morning, scott. it's uncertain what to expect today. last time the new york stock exchange was closed for more than a day because of the weather was in 1888 and that was due to a snowstorm. certainly during a different era. the nyse and the nymx are opening but many traders may not be able to get to

you can go see what scott mcgrew gets every day. >> i get every day. ever wonder what goes on at twitter? visit nzinga. you can see all the dog. google. it's an open house at google's city location only. air b & b is going to join in. so a citywide tech company open house. you have to register first. if you look on the white part of the screen there, you see www.openco.us. it's open house friday in san francisco. you're looking at the first ever commercial delivery to the international space station. california-based space x docked just this morning. the unmanned capsule delivering a thousand pounds of supplies. this is the second time dragons visited. first time carrying a full load. nasa will pay space x $1.6 billion for 12 trips to the space station. the space station commander indian american watched as it was guided in by an astronaut from japan. the company is run by a south african. he also founded pay pal and tsla. putting solar panels on many american homes. space x will make another delivery to the space station in january. other countries ha