let's go over to cnbc's seema m mody. in case you missed it, wall street just had one of its worst weeks of 2013. investors worried about the prospects of higher interest rates after it said it would scale back on stimulus efforts. up nearly 4% against the japanese yen and a stronger dollar, think, influences the price of commodities. at one point gold was trading at its lowest level in nearly five years. fears of higher interest rates sent bank stocks lower. goldman sachs, j.p. morgan, morgan stanley all moveing to the downside and here is what caught the attention of traders. the ten-year treasury which influences mortgages and other rates rose above the psychologically key 2.5%. that's the first time since august 2011. there was a slit comeback in the market today, but the nasdaq was weighed down by oracle's disappointing earnings and larry, there are some who say we'll continue to see volatility in the coming weeks. >> maybe in the coming months. that's the story. seema mody, thank you very much, i appreciate it. >> n

after hours shares spiking higher. >> thank you seema mody.at pillar investors find themselves in a whole despite the increase. is now the time to get in. tim is a bull, brian is a bear. 90 seconds on the clock. tim, kick it off. >> from a impact perspective the devil went down to george. everybody knows mining companies are pulling back. dealers inventories in china were flabby. ultimately, this is a company who is still growing in other parts of the world. 10% in africa, it's a company trading at 12 times earnings. that's the most important thing here. you're very near the bottom of a one year range. it's not at 100 bucks. precrises arguably one half of the profitability was trading at 15 times. for their balance sheet and their earnings it was five and a half times. this is a valuation call on a company that's not dead in the water. mining is not buoyant but not dead in the water all over the world. >> so we've heard from blue steel. here's what you need to hear right from the company. today they announced a dividend increase. that tells me

cnbc's seema mody has those stories for us and more.d evening, seema. >> good evening, larry, by a vote of 68 to 32 the senate passed the so-called gang of eight immigration bill. 14 republicans voted for it. the vote would legalize millions of immigrants who are currently here illegally and increase border security and don't expect house republicans to go along with it. they have their own bills and have voiced opposition to the senate version. a deal to keep student loan rates steady fell apart in the senate. the deadline is monday. if nothing gets done before then, rates for federally-backed loans could double. there are several options on the table including a proposal from senator john manchin. his plan to is to tie rates to the ten-year note, plus one percentage point and the commodity futures trading commission is suing jon corzine. the cftc wants to ban corzine from trading in the futures market and make him pay an unpress spied penalty. corzine failed to supervise mf global before it collapsed. >> we're out of time, but i want

seema mody, thanks for that update.ext on kudlow, the white house says it won't settle for anything less than a major long-term budget deal in congress that ends the sequester, and jacks up taxes. no way, friends, president has got a veto strategy and that could lead to a government shutdown later on this year. that's next up on "the kudlow report." my mantra? always go the extra mile. to treat my low testosterone, i did my research. my doctor and i went with axiron, the only underarm low t treatment. axiron can restore t levels to normal in about 2 weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especially those who are or who may become pregnant and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these symptoms to your doctor. tell your doctor about all medical conditions and medications. serious side effects could include increa

seema mody gives us a preview of blackberry results. >> tomorrow, of course, the big day.the turnaround strategy put into place by blackberry's ceo is working. analysts expecting q1 earnings of 6 cents a share. but the real focus how many smartphones it sold in q1. it's first full quarter since the blackberry 10 devices came on the market. the phones are selling extremely well in canada as well as the united states. mat hoffman does not believe bb10 is winning enough converts. it still has some serious catching up to do according to gartner research. back to you. >> thank you so much. seema mody with the latest. a short break and then we recap another big rally day on wall street. back in a moment on "closing bell." is that we get to create our future. you get to take ownership of the choices you make. the person you become. i've been around long enough to recognize the people who are out there owning it. the ones getting involved and staying engaged. they're not sitting by as their life unfolds. and they're not afraid to question the path they're on. because the one quest

seema mody joins with us those headlines and more next up. . steven crohn's capital right now >>> violent protests in sirria it started as a simple demonstration to save only trees it's now gotten much out of hand. >> good evening, larry. it's the fourth straight protest in istanbul and riot police continue to use tear gas against the protesters. it started on friday night when police used force on a group of nonviolent protesters trying to prevent trees cut down in a park. since then, it has grown into a much larger movement against the prime minister. turkey's stockmarket also fell more than 6% today. >>> in other news, united airlines is trying to get frequent flyers to stay loyal with the new sub prescription service. -- subscription service. you can get a flat price starting at $349. >>> today could be a bad day for sac capital and its founder stephen cohen. investors are withdrawing billions of dollars from the fund tcht company expects to lose a billion dollars in outside money, they are fighting insider trader charges. that's the latest

seema modi is looking at micron technology for us. hi, seema. >> the best performing tech stock this year reports earnings tonight. analysts are expecting the semiconductor player to post earnings of two cents a share which would be its first profit in two years thanks to favorable pricing trends and its strong position in the mobile and tablet space. an analyst at mkm partners says micron has done a good job and focusing in on the two hottest areas while at the same time limiting its exposure to the pc industry which has been experiencing slow demand. this strategic move has helped micron outperform its peers, including intel, which has higher exposure than micron to the pc space. shares of myron up nearly 120% year to date. analysts say the stock could move even higher once its acquisition of japanese chip-maker alpeda closes and the deal is expected to close sometime this summer. tyler, back for you. >> all right, soma, thank you very much. president obama is in berlin making a big speech today, and you know who was waiting for him,

. >> now seema mody is bringing it right here. >>> first we'll talk with the ceo of jack daniels, they a jump in earnings this morning and we'll find out next where the next>> and the most important hour of the trading day, lots of volatility. we're at the lows right now, down 220 points on the dow. what is raining on the rally's parade and what should you be doing? stay with us. back in a moment. >>> big sell-off underway in wall street today. we've got the dow jones industrial average down 192 points, as you can see, 14,985, breaking through the 15,000 mark. pretty much across the board selling. and we are very close to the lows of the afternoon, as we approach the final stretch, 45 minutes to go in the trading day. >>> meanwhile, brown forming, best known for its iconic whiskey brand, jack daniels, and it's that family of brands that helped propel them up. sales of jack daniels saw an impressive 11%. >> and the company is seeing surging demand for bourbon and whiskey here in the united states and abroad

thank you, seema mody. i appreciate it. >>> markets have been in flex with bernanke. kudlow viewers have heard that before. >> chairman bernanke is up to capitol hill all the time. i think he's more popular there than justin bieber. >>> next we're going to talk about who will replace bernanke if he leaves office in the next six months or did president obama just flat out fire him last night in an interview? >>> the fans love bieber, the market loves bernanke. we'll be right back. vo: traveling you definitely end up meeting a lot more people but a friend under water is something completely different. i met a turtle friend today. avo: whatever you're looking for, expedia has more ways to help you find yours. she's always been able it's just her way.day. but your erectile dysfunction - that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequent

seema mody joins us with all the details. >> good evening, larry, we are halfway through 2013. boy, did that go fast. the dow jones industrials up nearly 14% year-to-date. s&p 500 up 12.6%. take a look at the nasdaq, a major comeback after the performance in tech the composite up 12.7% in 2013. here's the real story t. yield on the ten-year treasury note, which for a while was hanging on below 2%, just hit its highest level in almost two years. the reason, ben bernanke talking about scaling back on qe. in response the dollar index shot up now about 5% this year, gold and other commodities which typically have an inverse relationship with the u.s. dollar fell sharply. actually, gold just had its worst quarter on record, now, a quick check on how we ended today. the s&p 500 down fractionally. the dow jones just below 15,000 and the nasdaq holding on to 3400, larry. >> many thanks, seema mody, appreciate it. >> now, folks, now is the time, grab your pen, paper and ipads, we have your playbook for the second 4568 of 2013 coming up. before we show you how to make money in stock, bon

now to the nasdaq and joining seema modi where i believe it's the first four-day losing streak of 2013. >> absolutely. the nasdaq on pace for its worst juniper formance in three years. some traders that i spoke to saying the market volatility we've witnessed over the past couple of days will continue and take a look at shares of a. that's the big story in tech land. did break $400 a share. a key support level earlier today, global equities research says apple employees are viewing the drop in apple's price as an indication of a bleak future for apple and that recruiters are seeing more and more employees of apple applying for jobs at other tech firms including google, linkedin and even hp. a lot of old school tech names underperforming the markets, cisco near 20 bucks a share and intel down 2% to 3% last time i checked. mandy? >> thanks very much, seema. >>> forget about the summer swoon, let's talk about the june swoon. we current numbers. june traditionally the worst month of the year for the dow. in fact, over the past 20 years, dow stocks have fallen on average 7.6%, more than augu

let's get to seema mody. she's putting this market in perspective ahead of the key jobs report tomorrow. >> the dow nearly had its first three-day losing streak of the year, breaking its 50-day moving average, but then staging a late-day comeback, storming higher as the markets eked out a small gain, just the second time this year that the dow has erased a triple-digit loss. but to put that all into perspective, all the major indices are on pace for their third straight weekly declines. the last time the dow and nasdaq fell three weeks in a row was back in november, while the s&p 500 hasn't had a three-week losing streak in over a year. and the price of the ten-year treasury note very much in focus today, moving higher, as we saw this rotation into bonds. that moved the yield lower. also, a lot of fluctuation in the price of currencies today. the dollar index witnessing its worst day in almost a year, while the yen as well as the euro rallied higher. in response to the weaker dollar, gold moving higher, shini

>> yeah. >> unbelievable story. >> many thanks to seema mody. the tech giants like google are pushing back against the nsa surveillance program. they may even sue the government over this. but will they get anywhere? we're going to talk to some tech and legal experts about all that next up on "kudlow." vo: traveling you definitely end up meeting a lot more people but a friend under water is something completely different. i met a turtle friend today. avo: whatever you're looking for, expedia has more ways to help you find yours. (announcer) scottrade knows our and invest their own way. with scottrade's smart text, i can quickly understand my charts, and spend more time trading. their quick trade bar lets my account follow me online so i can react in real-time. plus, my local scottrade office is there to help. because they know i don't trade like everybody. i trade like me. i'm with scottrade. (announcer) scottrade. voted "best investment services company." since aflac is helping with his expenses while he can't work, he can focus on his recovery

tyler and sue. >> seema modi, thanks very much. we posed the question, is the selloff an opportunity or an overreaction? the chief executive officer of greenwich wealth management joins us and the also with us cnbc contributors kenny polcari and welcome to all of you. you've given us a list of stocks, three stocks to run to and two stocks to run from. let's start on the positive side. what would you be moving into right now? >> quell -- well, one of the stocks i like is xls, eselis. people are afraid of defense contractors these days because the united states is pulling out of the wars and there's the pending sequestration or the sequestration that's already in effect. >> right. >> so there's some fear about that. this company specializes in an area called c-4 isr which is an acronym for command, control, computers, communications, intelligence, surveillance and reconnaissance. you have to hold your breath when you say that. >> yes, indeed, you do. but it's an interesting company. their sales come primarily from the united states g

seema modi is following those at the has damage for us. hi, seema? >> hi, sue.pple shares react together latest announcements made by tim cook's at the company's developers' conference. keep an eye on some of the competitors in the online music space because that's where they expect apple to make an announcement. google is trading higher on the day. speaking of tech, am don expending its way. we're seeing shares of am shon trade-year on the day. ebay, micron tech, from the semiconductor space, and take a look at nasdaq, sue, off its high and in the green, composite nearing 3,500 which, of course, is that key psychological level that investors watch. >> thanks, seema. to gold now because that market is about to close. jackie d'angelis is over at the nymex today. good afternoon. >> good afternoon. a mixed picture in the metals space. we started down across the board today, but the prshs metals managing to gain some steam into the close here. gold holding above the 1,380 mark. right now gold is up 3 bucks. roughly a 1% gain, that after seeing pressure last week. bo

seema modi here to discuss how it's affecting u.s. companies. seema? >> a lot of volatility in the u.s. currency markets and the dollar's recent slide, particularly against the yen, could be good news for the u.s. exporters that depend on the japanese market. the weaker dollar makes their products less expensive. this is a big turnaround from the trend in place since 2012 when the japanese central bank began an aggressive easing campaign, and this turnaround could be good news for u.s. companies that depend on the japanese market. now, according to s&p capital iq, there are six companies on the s&p 500 that make 20% or more of their sales from japan. dts and info tech company booked more than 40% of its sales in japan in 2012. jann arden, coherent and abbott labs making the list, ibm, metlife, merck also sold more than $1 billion in japan last year. japan is also a big market for the high-end retailers like tiffany's and coach, each with over half a billion dollars in japanese sales in 2012. currency fluctuations are seen as a risk to these companies.

. >> seema mody, what is leading the stocks there? >> seagate and western digital both up.big pay d.a. for ipos here at the nasdaq which shows the market volatility hasn't scared companies from listing on the public markets. hd supply one of the largest distributors in north america an play on the housing market raising $957 million in proceeds making it one of the largest ipos in 2013. maria? >> thank you, seema. now we want to check gold going the other way. big time, bertha coombs watching the trade. >> sellers are very much in control of gold. though it did close about $1200 an ounce. dipped below that afterwards. trading saying that is not a support level. just a signing logical big round number. last time we close bred that was august 12, 2010 and looks like we are headed for there as we go to the end of the quarter here. gold and silver on track for worst quarterly decline ever, at least since we have been keeping records. what is interesting is disparity. not a lot of volatility, gld right along with gold to three-year low. take a lock at minors today. some of the m

seema mody, thank you for that. >>> time to get to your money. the markets remain obsessed with all things bernanke, whether the fed should slow down its bond buying program, and we'll have a great debate next up on "the kudlow report." >>> welcome back to "the kudlow report." i'm larry kudlow. in this half hour, the wild swings on wall street continue, another triple-digit day for the dow. this time to the down side as it fell 106 points. the dow is now corrected lower by about 3%, or 478 points from its all-time high. what to do next. we're going to get you some answers later on. also, while it's certainly true scandals are surrounding the obama white house, more than ever the republicans need a real operate mi optimistic growth message. first up, wall street is obsessed with fed taper talk. investors are looking ahead to the next week's meeting with hopes to get more clarity on whether the fed's going to buy more or fewer bonds. question for us is, has ben bernanke done good or not for the american economy? let's get right to it. here now is f

uptown to the nasdaq where seema modi is following the movers there. >> significant drops have providedood buying opportunity for the bulls. excitement around microsoft windows 8.1 is helping them trade at session highs, also in the smartphone space, all eyes on blackberry, up 5%. apple shares trading solidly in the red, below $400 a share. 382 is the next support level, and, remember, this is a stock that was trading in the 700s just eight months ago. sue? >> thanks, seema. bond market, did have that auction at a c-minus, the grade that ricky gave it. let's see how the action is tracking at the cme right now. hi, rick. >> hi, sue. look at an intraday five and ten, one last push towards higher rates before rates started to fall a bit. sloppy auction. yesterday's was a bit sloppy. look at the dollar index, didn't really move much on the auction but it's been up mainly due to higher rates of late. look for that to potentially deteriorate, say traders, and can you see on the next chart, dollar index has been on a tear so we want to continue to monitor both auction and the rally and stock t

seema modi shows us. >> concerns with the product pipeline weighing on the stocks an global equities research, riding that and employee morale at apple is low and recruiters are seeing more and more employees applying for jobs at google, linkedin and even hewlett-packard. a lot of tech names are performing down today, intel down 3% and dell, a key support level that the stock was able to hold for the past two months and nasdaq on pace for its worst juniper formance in three years. some traders say that the market gyrations we've witnessed over the past couple of days will continue, especially as we see interest rates rise. michelle? >> all right. thank you very much, seema with the latest on nasdaq and apple. as the major market is selling off, the volatility index is hitting the highest level. a chart of the vxx. this is a chart that actually is an etf that tracks the vix. up 20% in two months. there's the vxx. let's bring in kenny polcari, and from the cme jim mario joins us as well. what are you doing on a day like today, are you buying? >> not nervous because anyone not expecting

seema mody has been tracking that stock for us. >> shares of bood allen are down five% this week, surroundinget u.s. government information. snowden was a short term employee of that firm. booz allen's cfo presented at a conference in chicago. he did not directly address the controversies. the stock down seven days straight. >> now at a time when people know the government is looking over their shoulder. can one's private information stay privilege. see crest is a company that developed a mobile app that protects us from telephone interception. good to see you today. >> thanks. >> would this protect -- what we're learning in the nsa program, they're not listening to phone calls. they're tracking the calls being made but they're not listening in. is that what this would protect from as well? >> this protects both. it encrypts the all to very high standard end to end but protects all the data. the reason they have it is to bill you, who you called, how long you called. we didn't record any of that. we don't need it. you down load the app. anybody else with the app you essentially can call them

let's send it over to seema mody. >> royal bank of scotland ceo steven hess hester to step down in decemberill not receive a bonus in 2013 and the search for a successor will begin immediately. the stock moving lower down about 2% on the day. scott, back to you. >> thanks so much. >>> shares of cosmetics company ulta are on the move after they said net profits moving by 20% but herb gren beenberg has some warning signs. >> it's a big beat. let's not forget a quarter ago the company came out and offered first quarter guidance. fiscal '13 guidance that was well below expectations. the company comes out beats that well below expectation guidance and by the way, gross margin down 100 basis points. but, you know, they said it was going to be down 140 basis points. man, down 100 basis points. they got some issues here. >> you're saying this is a relief rally we're seeing. it i want as bad as some people thought? >> this is a wall street does not care about the fundamentals story. there are many people i talk to that look at the accounting of the company. they believe the accounting is very aggres

seema mody has come off her blackberry for a couple of minutes to file this report. >> take a look at this chart and that's the story that we're looking at right now. expectations were just way too high. shareholders bought into the practice that blackberry staged a full turnaround and this would be the quarter that we'd see not just good but strong results and that wasn't the case. blackberry reported a surprisingly quarterly operating light citing venezuela currency restrictions as a restriction and ceo thurston heinz says it will anticipate a lott loss in the second quarter. q1, blackberry shipped 6.8 million devices and 40% came from its new bb $10 phones and another says it's too early to pass judgment on the conference call the smartphone market remains highly competitive, the turnarounds take time. blackberry still the laggard in the space making up 3% of the worldwide mobile space by operating system market in the first quarter of 2013. on the call heins spoke about how they are focused on capitalizing on the mobile device management system space, bes, which analysts say could

. >> let's send it back to hq for a market flash with seema mody. >> sewed stream, the company introducinged home carbonation system to the kitchen-aid portfolio it's kpbed to be available in the fourth quarter of 2013. terms of the deal not disclosed. shares jumped on the news nushlly bnushl ly initial by but faded. >> the stock up 15%, three months year to date 63%, one year, 79%. >> this is a cult stock and as always, the shorts are learning a lesson, you can't just short things on valuation because you think the thing is a fad, because right now the shorts are forced to buy in on every dip. even on bad news it barely budges. the upside, you can stay long the stock, trailing it with a stop loss at the 50-day moving average. if you a are a momentum player, it's one of the best stocks in the market. there's no reason it couldn't din to trade on good news. >> you saw the news this morning with whirlpool, kitchen-aid, i wouldn't be a buyer of the stock, i would want it see it get below the 50-day and retest the lower moving average. >> this is a stock that can make 8%, 9% swings interday. i

. >>> uptown to the nasdaq where we have seema modi. >> making a little bit of a comeback.he day. google a focus after announcing the acquisition of waze, an increasingly popular mobile app that allows you to share traffic and roadside information that helps users find the most efficient route to get from point "a" to point "b" and facebook shares in focus. ceo mark zuckerberg will be put in the hot seat. the compensation program is expected to be one of the topics discussed at that shareholder meeting. >> thanks, seema. >>> to the bond market and rick santelli is back in the action at the cme. how do you look, post-auction, rick me. >> the auction sticks out and you can see 33 minutes ago we had a bit of a move upward in yield. the same can be true for 10s, but also notice on 10s it's now hovering at 220. the breakout point about 4:00 a.m. eastern is when it surged through the intraday high yield yesterday and on the may 29 trade at 2.23. the fact that we're under it is significant. you know, de-leveraging comes and goes. nobody knows when, but it's a real market-buster, a

. >>> i'm seema mody with our market wrap. stocks cut their gains from yesterday across the board.rices hit their highest level in nine months as tensions escalate between the u.s. and syria. and industrial projection flat lined in may as manufacturers boosted production but the gain was offset by a drop in utility output. and group upon shares jumped nearly 12% on an analysts upgrade from a hold to a buy. that's it from cnbc. now back to "hardball." >> we're back. over the past two days, politicians frequently mentioned in the same breath with the words "2016 republican hopeful" have been speaking to religious conservatives at the faith and freedom conference. take a listen. >> the left likes to think that we are the fringe. guess what? you, us, we are the mainstream. >> we're facing a crisis on the family front in this country. the last census numbers depict that fact. 42% of the babies brought into the world today will be brought into the world out of wedlock. it is a breathtaking statistic that describes family life in america today. >> today we have a culture that accepts the

. >>> let's get to seema mody at the nasdaq. a key support level. we're seeing a steep sell-off in the technology sector as, of course, investors take on this more risk off approach to investing today. microsoft among other large cap tech stockings moving to the downside, google, amazon also trading in negative territory. apple, which had been bucking the downward trend in the market, also now just turned into negative territory. however, this is what's interesting, the worst performing nasdaq stock right now is rand gold resources in response to the drop we're seeing in the price of gold. rand gold resources trading down by around 5% on the day. those are some of the big movers we're watching right now. kelly, simon, back to you. >> thank you very much, seema. let's bring in jim stewart, famed columnist with "the new york times," recently described as the journalist that every other journalist would like to see. nice to have you on the program again, sir. thank you very much. welcome. >> nice to be with you. >> what fascinates

cnbc's seema mody has the latest. >> that's right.oard, an activist investor, is pressuring smithfield to consider a break-up instead of the proposed $4.7 billion deal. "the wall street journal" reports in a letter to smithfield's board to be delivered today, starboard says smithfield could be worth $44 to $55 a share in pieces. the company is offering $34 a share. starboard proposes splitting the company into three parts. u.s. pork production, hog farming and international fresh and packaged meats. starboard says smithfield never sought bidders for these pieces and believes that interested suitors exist. "the journal" says starboard has taken a stake in smithfield which could vault it past vanguard. continental grain also called for a break-up but mostly exited its stake in smithfield following last month's announcement of the takeover. checking smithfield in germany this morning, shares up about 4% on the day. ross, back to you. >> seema, thanks for that. >>> president obama has made a speech ahead of the g-8 summit in northern irel

i'm seema mody. ciena posting a surprise beat on its top and bottom line.cting as the company continues to see an uptick in demand from its telecom clients, specifically in the north american region. other networking gear players also moving to the upside. jdsuniphase among others in the green. >>> breaking news on sac capital. kate kelly is at headquarters with that story. >> so amid these ongoing concerns about redemptions -- in other words, investors pulling money out because of an ongoing legal investigation, s.e.c. performance has continued to be somewhat lackluster through the end of may. numbers just out this week show the fund was up 70 basis points for the month of may, that leaves it up 6% year to date. of course they're comfortably in the black with 6% but they're way behind the s&p to far this year which is probably something of a fair comp for a fund that primarily deals in stocks on both the long and short side. you can see compared to their peers, they're closer to the average mix than they normally are. historical historically sac has been r

seema mody has more for us. >> consumer staples one of the key laggers in this market.t index, in an ak filing says morningstar reaffirming its 2013 eps guidance of 45 to 55 cents per share. consensus estimate is for 53 cents per share. dean foods also got hit by a downgrade to market perform from outperform at sanford bernstein. you can see the stock down about 3% on the day. carl, back to you. >> see ma, thank you for that. >>> cyber attacks on your personal information not going anywhere. those attacks are increasing. the president of hack if i mcafg to give us some details on cyber criminals and who they're targeting. we'll be right back. [ male announcer ] frequent heartburn? the choice is yours. chalky... not chalky. temporary... 24 hour. lots of tablets... one pill. you decide. prevent acid with prevacid 24hr. we're headed the same way, right? yeah. ♪ [ panting ] uh... after you. ♪ [ sighs ] [ male announcer ] it's all in how you get there. the srx, from cadillac. awarded best interior design of any luxury brand. lease this 2013 cadillac srx for around $399 per m

it has a keyboard, seema mody if you are out there listening, thank you very much this came out pre-earningsls of channel buzz for the q-10. so if people out there are waiting for. some want the physical keyboard. if you are waiting for that physical key is board new phone to save blackberry, you will be waiting a long time. >> okay. so then you got to play this company for runoff and for whatever i.p. value you think it has. they still, be i the way sell an enormous number of these phones in emerging markets, some older phone models where actually price points matter. apple talked about whether they will have an iphone at a lower price. by the way, if that happens, it will make it harder for those in those marks. >> they will come out with a touch screen before you came out with the actual keyboard t. wait is too long. if you wanted a blackberry, you wanted the keyboard. there is a reason. if i wanted a touch screen, i would have gone to the iphone sometime ago. >> i got dragon dictation on here the keyboards will become insignificant. you literally will say, hey, andrew, what's going on? >

seema mody has more at the nasdaq. >> good morning. hd supply has opened for trading.l range of $22 to $25. it has raised roughly $950 million in proceeds making it one of the biggest ipos this year. a couple details behind the company. hd supply is one of the largest industrial distributors in new york america and it's seen as a play on the housing market. they were bought out of home depot from three private equity fir firms. you can see shares down around 0.6% on the day. >> new york fed president bill dudley also speaking this morning on labor markets and purning back hard against concerns over withdrawal of qe saying tightening could be further away than markets think. >> some commentators have interpreted the recent shift in the market implied path as indicating that market participants now expect the first increase in the federal funds rate to come considerably earlier than previously thought. setting aside whether this is the right way to interpret recent price moves, let me emphasize that such an expectation would be quite out of sync with both the fomc statem

here with the highlights from the conference call is seema mo mody. >> the quarter is disappointing forthis quarter, q1, blackberry would have good news to report. expectations were clearly way too high. reporting a operating loss, adjusted earnings negatively impacted by venezuela, foreign currency restrictions. more concerning is the amount of smartphone shipments, 6.8 million, came in below the analysts' estimates of 7.5 million. the ceo said the smartphone market remains highly competitive. turnarounds take time. but the street wants to know how much more time? blackberry is still the laggard in the smartphone space making up 2% of the worldwide mobile phone market in 2012. that according to gartner research. an analyst says blackberry's lon lon long-term viability is under scrutiny. jeffries saying it's too early to pass judgment. kelly? >> thanks very much. off 25% today but we want to mention that the s&p has just turned positive joining the nasdaq in positive territory if just slightly. the dow is still down by almost ten points. the volatility continues on wall street as stocks