. >> so you're shorting apple? >> i'm not shorting apple. i like tim cook. there are a lot of talented people over there but steve -- >> you are apple is going down without steve jobs. that's what you said. i'll say it publicly. >> he's irreplaceable. they won't be nearly so successful because he is gone. >> they are going down without steve jobs. max, what do you think of that? >> thanks for having me. there is ellisson speak and not totally shocking he has a larger than life big ego a founder at oracle and he's warmed his close friend and another founder larger than life steve jobs is not replaceable. i think everyone believes that. the question is is the company worth more than where it's trading today? the answer is probably yes, but in the long term will they regain the share price or momentum or atop the smart phone industry and there i would cautiously if for different reasons agree with larry they won't go back to where they were two years ago. >> you think they can be good in the short term but not great the way they were? >> yeah, i think that's pr

. >> reporter: so you're shorting apple? >> i'm not shorting apple. i like tim cook.nk there are a lot of talented people. >> reporter: you just said to me apple is going down without steve jobs. that's exactly what you said. apple is going down without steve jobs. >> okay. i'll say it publicly. he is irreplaceable. i don't see how they can -- it will not be nearly so successful because he's gone. >> reporter: technology analysts say ellison is right about apple's leadership today. >> perceived as leaders without being perceived as lagers. >> reporter: he says without steve jobs, apple has been on the defensive over mapping problems, accusations of poor labor conditions in china, and competition with samsung. >> he was the vision of the company. he was the guy that created the magic and apple was a magical company. once you remove the magic from a magical company, you have something different but it's not apple. >> reporter: and ellison admitted he is not the same larry ellison either. he told rose he is mellowed. >> i think it's just, you know, a nicer -- [ laughter

. >> so you are shorting apple? >> i think there are a lot -- steve is irreplace i irreplaceable. he will not be as successful because he is gone. >> reporter: they are right about the leadership today. >> i am being perceived as liars. >> reporter: they have competition with samsung. >> apple was the magic. when you remove the magic you have something different but it is not apple. >> reporter: the oracle ceo has mellowed. >> a certain venn ear venear of charm. >> you can see the entire interview on cbs in the morning and find out what ellison thinks of google. >>> one of the most av -- affluen and poorest neighborhoods and parking. >> reporter: we are in palo alto. these houses go for 7 figures and they have modest cars parked out here. >> it takes 20 to oo the city manager is strying to come up with a solution. it will last for one year. life in palo alto. >> the man fell 60 feet into a parking lot and the fall was accidental and investigators are wondering if rainy conditions were a problem with the upper deck. >>> he is the guy who through the banana at at&t park. he grabbed

. >> so you are shorting apple? >> i liked him. >> apple computers. >> days before the premier of jobs, depicting the rise and fall of apple's cofounder, tells charlie rose that the company and current ceo lost its core when it lost jobs, his best friend of 25 years. >> i'll say it publicly. he is irreplaceable. i don't see how they can -- they will not be nearly so successful because he is gone. >> technology analyst, rob, says ellison is right about apple's leadership today. >> being perceived as leelders. >> apple has been on the defensive over mapping problems and competition with samsung. >> he was the vision of the company. he created the magic and apple was a magical company. once you move the magic from a magical company, you have something different, but it's not apple. >> and ellison admitted he's not the same larry ellison either. the ceo told rose, he's mellowed. >> i'm not angry, but i think i'm as competitive as i ever was. i think, you know, a nice, a certain charm in front of the same intensity. >> el

. >> rose: so you're shorting apple? >> i'm not shorting apple. i like tim cook, there are a lot of talented people. >> rose: you just said apple is going down without steve jobs. that's exactly what you said. apple is going down without steve jobs. >> okay, i'll say it publicly. he's irreplaceable. i don't see how they can -- they will not be nearly so successful because he's gone. you can already feel it, he made all the decisions. he ran everything. he made every single decision. i know he loved to share the credit and that's fine, but i'm telling you, he made every single decision. i was there, i watched it. for 25 years. he made every -- he decided how you -- how you paid -- how you checked out of the apple store. he decided where things were in the apple store. he picked the colors of the original imacs. sorry no beige was his. a thousand songs in your pocket was his. >> rose: (laughs) i hear you. >> the name "ipad, i tunes, iphone" were his. >> rose: remember when you -- when he was in at apple and then he was out at apple and you wanted to

. >> so you're shorting apple. >>> i'm not shorting apple. i like tim cook. people over there -- >> you just said -- apple is going down without steve jobs. that is, that is exactly what you said. apple is going without steve jobs. >> okay. i will say it publicly. he is irreplaceable. charles: that was oracle ceo larry ellison predicting doom for apple in an interview with charlie rose this morning. we'll check with apple's stock when it opens this morning. we're a few minutes away from the opening bell with scott shellady. i want to talk to you about oil. mexico opening up that vast amount of oil. they have oil and natural gas shale there to public companies, private companies. what does it mean for the markets? [opening bell rings] >> i think competition will be good it will keep the oil price down. we can't afford to pay higher oil prices especially with 1 1/2% gdp looks as though politicians in mexico are getting rid of a single-payer oil industry and opening borders to competition which will be a good thing for the price of oil and the consumer. charles:

. >> so you're shorting apple. >> i'm not shorting apple.cook. >> you're saying apple is going down without steve jobs. that's what you said. >> okay. i'll say it publicly. he's irreplaceable. they're not be nearly so successful because he's gone. >> where do you come down on what nsa is doing? >> well the great thing is we live in a democracy. if we don't like what nsa is doing, we can always get rid of the government and put in another government. i think -- actually we've been collecting this information for so long long before nsa was collecting it. let me tell you who was collecting it. american express bank of -- visa. all of your credit card data and all of your financial records. this whole issue of privacy is utterly fascinating to me. who's ever heard of this information being misused by the government? >> i hear what you're saying. whatever they're doing is okay with me. >> president obama thinks it's essential. it ooh essential if we want to minimize the kind of strikes that we just had in boston. it's absolutely essential. >> bu

. >> so you're shorting apple? >> i'm not shorting a. i like tim cook. are a lot of talented people. >> you just said to me apple is going down without steve jobs. that's exactly what you said. >> okay. i'll say it publicly. he's irreplaceable. i don't see how they can -- they will not be nearly as so successful because he's gone. >> seema mody and robert frank are here. is larry ellison right, seema? >> certainly not a positive thing to hear if you're an apple shareholder. however, in the last two years apple's competitive advantage in the smartphone and tablet space has changed. will this be different if steve jobs was around? maybe not. >> robert? >> yeah, you know, follow the finger. i mean, the direction there is pretty clear, and i think ellison is the most jobsian ceo in america in terms of the mad genius. these two were very close. he had a lot of insight into what made this company successful. i think he's right. >> very interesting. on to tesla with an iconic ceo, elon musk releasing his idea for the hyperloop, a high-speed above ground travel s

apple charger for less. find out how and why. stay with us. >>> you could call it swapping for safety. for a shorte, apple is offering a swap and sale program for anyone who is worried their usb charger might be faulty. the temporary policy is in direct response to two electroucutions in china lynched to chaernlgs. one of them was deadly. they'll sell a $10 apple charger to anyone who brings in their existing karcher and usb wire even if it's made by a third party. offer is valid from august 16th. >> hundreds of neighborhoods across the bay area are taking part in national night out tonight. in oakland, more than 100 events are planned this evening. in san francisco, each police station will host a block party with a police chief stopping by at each vent. on the peninsula san mateo police expect more than 50 block parties this evening. national night out is designed to heighten crime and drug prevention. for a complete list of events nbcbaya >> up next a birthday party that might leave you curious. stay with us. >> and out of this world birthday in the name of research and technology. >> it's a bi

. >> so you are shorting apple?shorting apple, because i like tim cook, but steve is irreplaceable. >> but apple is going down without steve jobs. that is what you said. >> okay, i will say it publicly, he is irreplaceable, and they won't be nearly so successful, because he is gone. >> wow. >> i mean, that is larry ellison saying something that many have said and in fact, you have alluded to that and we all have and you all wonder about that, and tim cook, obviously, irreplaceable, but hearing that from starkly from larry ellison who is one of the entrepreneurs of silicon valley. >> would tim cook say it differently if he said he is irreplaceable, but stay tuned, because ellison is not talking about the dna, but it is a one-person company. a lot of people thought that ellison and oracle was a one-person company, and looks like a bench. i don't like the oracle stock at all and i will say thashg and i don't think that ellison is irreplaceable. it is slamming apple by the way above the 200-day moving average. >> called

apple is expected to announce it at a september 10th event. it may initially boost the stock but shortived. apple stock has been lower a month after the new iphone was released. >> interesting. >> an analyst says there's a lot of hoopla but then it dies down. it's a thing in wall street. you buy it up. when it happens, take the profit. >> the changes are incremental at this point. >> i'm anxious to see if there's the fingerprint technology. >>> another big story, you heard of the fast food strike. a legislation that would force retailers, big box stores occupying more than 75,000 square feet or parent companies have to pay $12.50 an hour. the current rate in d.c. is $8.25. 60 cities striking to boost their hourly pay to $15. i think you are at the beginning of this discussion about the minimum wage. >> we were just talking about that. >> you are just at the beginning. so many people, these jobs for many, they were a career. they were a steppingstone to something else. there's not a lot else out there. the average age of a fast food worker, 29. you have people paying off student loans w

. >> charging toward a solution for a short time apple is offering a swap and sale program if anyones worried their usb charger is faulty. that relates to two electricutions, a $10 apple charger will be listen to anyone with a charger, even if it's made by a third party. it's available august 16th to october 18th. >> still ahead, your safety versus your privacy. it's a big debate, the fight over domestic drone surveillance goes to the capitol. >> and an update on president george w. bush's surgery today. >> as you probably heard, the governor moved in and called off a b.a.r.t. strike this week and he appointed a special board to look at the labor disputes. should we take any comfort in the steps. in tonight's reality check, we will talk about the gubernatorial role in labor. >> tomorrow morning in oakland, the three-board panel convened by governor brown is going to look at what is keeping b.a.r.t. and the negotiators from reaching a deal. >> will it work? we explore the history. seems like we've seen the movie before. >> this has been tried before usually without success. this has n

apple is not a buy right here. however it is too strong to short, even today with the s &p 500 down 23 points, apple's actually up. hitting or lingering around this 500 level. this might be every time it sells off is a buy instead of everytime it rallies is a sale... alan: so you're changing sentiment at least? andrew: short-term sentiment. it's bullish, ok? short-term sentiment. alan: this is the first time we've been to 500 since january, but the risk-reward's no longer there. we've already rallied $120 off the lows. the midpoint is about 550. 580 is the target... andrew: no chance it gets to 580. period. alan: that's only 15% higher. there's better plays in this space--- andrew: google. alan: ---look at crus and look at gorilla glass. andrew: nuance communications too. alan: they have more upside as apple continues to gain and they have better reward as far as re- risk ratios. angie:and your bonus question is: name 3 stocks trading above $600. andrew: priceline, google...there's 2. how many do we have? alan: we gotta come up with another one? amazon's not it. blackstone's $300. andrew: well how about berkshire-

short. >> what about apple, now that we have the knowledge of carl icahn who has gotten into apple, i justonder your thoughts on it given what you said before about that stock and where you thought it was going. >> well, as i talked about, we bought apple below $425. we thought it was going to go to $5 $500. that was the easy money. it did go to $500. apple i can see moving a little bit higher. i think it has problems around $530 though. so apple is a stock that we're going to be saying good-bye to and just having a new tral on. we still own it. we own it from below $425. the easy money has been made. i was happy when carl said he bought it and it popped up because that's how it got to $500. it seems to be making no progress recently and so i think it's kind of a dead money stock really for quite a while to come once it settles in around the low 500s. >> maybe you should take a page from carl. what about jeffrey gundlach on twitter. >> i don't have a twitter or facebook or anything like that. i'm a ludite. i'm still rocking the blackberry bold believe it or in the. i'm pretty low tech. >>

now, we're going to see apple without steve jobs. >> so you're shorting -- >> i'm not shorting him. > 'apple is going down without steve jobs? >> i'll say it publicly he's irreplaceable. they will not nearly be so successful because he's gone. >> did you watch him dying? >> close, close -- >> was i there -- >> no, no did you watch him go through his -- >> i saw -- i would describe it i'd go over there all the time and the walks -- we would always go for walks. we would always go for walks. and the walks just kept getting shorter. until near the end, we'd kind of walk around the block. or maybe four blocks. something like that. and you just watched him getting weaker. i mean this is the strongest guy i knew. this was absolutely the strongest, most willful person i have ever met. and after seven years, the cancer even wore him out. and that was what it was. he was just tired of fighting. tired of the pain. and he decided, shocked loraine, shocked everybody, that the medication was going to stop. he just pulled off the meds i think on a saturday or sunday and by the following wednesday,

in the '90s is a protected their margins in did not go for market share and that is a short-term gain so i think appleliving the movie of the '90s with when it was windows ended to them when android is doing now they get caught up to protect the profit margin at the same time buu the share is 13% that is about as small as pc. >> even as the shares finally start to recover their up the $500 mark you wonder where they go from here. the investors fall on of love maybe they will fall back again. >> amazon.com business web site up after almost crashing half an hour. the exact cause is still unknown it is one of the busiest web sites in the world. small-business owners are struggling to find a great workers for the staff and company finds six out of 10 small business owners has the talent shortage. the enemy and freddie mac are hiding billions of dollars of that home loans that they are taking to loan -- too long to recognize losses. and they are not saving for retirement from ages 50 through 64 our the most likely of all age brackets to be saving was the sheer than last year. those are some of the hot stor

apple story. scott wapner is on the phone. i gather you've talked to carl. what'd you hear? >> reporter: i did, indeed, bill. in fact, i just got off the phone with carl icahn a shortago who reiterated a little bit of what he put out on twitter, that he had a good talk with tim cook, the ceo of apple. he also said in his call, you know, he believed that the no-brainer for apple to use either its extra cash or to borrow money and do a large buyback, and he said if he did a large buyback, the stock value would be enhanced, in carl's word, tremendously. he reiterated the fact that apple is very undervalued, in his words, a company that has great product. he said they had a very amiable conversation, that carl speaking with tim cook, and that they do plan to speak again shortly. he also, you know, his comments -- [ audio difficulties ] -- on the program last evening, what apple is like now versus what the company was under steve jobs. so i asked carl about larry's comment that apple seemed to be going down without steve jobs, and carl would say a lot of people thought netflix was going down, too. that was his response to that. of course, we know that carl has a big pos

short microsoft here. maybe it's a positive for apple although apple has had quite a run. those are the same names. to buy it now you're not going to make money. >> let's check on after hours moving here is. applied materials lower on weaker than expected earnings missing on both the top and bottom lines. fourth quarter guidance down more than two and a half percent. it's the most talked about story on the street. we'll take a look at the egypt effect on the wild moves in both gold and silver. the dis appointments of both macy's and walmart officially in the books. we'll hear from the ceo on how he thinks the consumer is healthy. back in two. including the gs and all-new is. ♪ ♪ this is the pursuit of perfection. this man is about to be the millionth customer. would you mind if i go ahead of you? instead we had someone go ahead of him and win fifty thousand dollars. congratulations you are our one millionth customer. nobody likes to miss out. that's why ally treats all their customers the same. whether you're the first or the millionth. if your bank doesn't think you're special anymore you need an

apple store employees are suing the company claiming unpaid overtime. the lawsuit filed in the san francisco federal court alleges that store workers are being short changedy are forced to wait in line to show they aren't trying to steal merchandise. the unpaid waiting period is 15 to 30 minutes. more than 42,000 of apple's employees work in the retail division though it is unlikely they would be covered in this complaint. >>> facebook briefly hit a milestone today. shares crossed $38 for a preef time this morning. $38 you might recall is the share of the ipo. it hadn't reached 38 until today. the run didn't last long. facebook closed with a 2% loss. >>> back in a moment with new video that might prevent you from drinking and driving. >>> it's designed to encourage people to be careful after having one too many drinks and done with security camera video. the new campaign shows three separate incidents. the man loses his balance after chasing a pigeon and falls on the tracks. another passes out on an escalator and continues to tumble. another incident a man tries to board a moving train and falls under the track. amazingly all three men survived. >>> it ha

but second of all, and perhaps more important in the short term they are starting to offer apple iphonesame to an agreement in april. over the next six months that should be a boost for the company. they are gaining shares for sprint. lastly, on a valuation basis, despite the run-up, it management, if they continue to execute earnings plan and continue to satisfy customer growth, they will do well going forward. >> all right. so you would buy at these levels, even though we are talking about this rally we are seeing in the stock, which of course has been quite bullish? >> yeah. >> valuation issue. >> right. i think the telecom space as a whole, all verizon, at&t, t-mobile and sprinting with all look reasonably valueed. so given the strong performance of t-mobile specifically, i like the stock as well. >> gentlemen, thank you so much. see you soon. >> they said thank you. >> yes, they did. i think they did. >> hook their mic, again. >>> 30 minutes to go on the dow and s&p. slight gains. this is the first gains for the week. we've had three down days in a row. we have not had four consecut

apple stock rose 5% just under $490 a share, but that's still far short of its high of $705 a share.arry ellison defended his beloved america's cup on national tv. in an exclusive interview with charlie rose of "cbs this morning," ellison countered critics who think the sailing race is too dangerous. >> we have to have fast modern boats. it has to be a popular tv sport. it has to be attractive to kids. >> reporter: it has to be risky. >> it has to be a little bit risky. >> stay tuned to "cbs this morning" for much more of charlie rose's interview. hear what ellison says about people who think he changed the sport of sailing for the worse. "cbs this morning," remember, starts at 7 a.m. >>> it is 4:52. too sleazy for hooters? the one california man the chain says it won't serve. >> the bedroom door and i had to wake my poor husband up. no longer poor. >> hear from some of the winners of the massive powerball jackpot about why the millions mean so much. ,,,, banned from hooters. the owner of the four san diego-area hooters restauras says t >>> san diego mayor and accused sexual harasser

>> well, i think what's happened is apple went from dictating the trajectory of technology to playing catch-up, and in pretty short order, this is a situation where the product cycles continue to shorten, particularly with multiple vendors and ecosystem of google. and apple has their one year which is beginning to seem stale. if this product is less than stellar, consumers are left waiting for another 12 months, which could be even longer if you think about technology and the way that preferences shift. >> are you folks recommending apple right now? >> we're not. we're neutral on the name. after the first quarter results, we decided to step away. and we do like the capital allocation plan. we think that they can be innovative and good stewards of capital at the same time. that kind of put a floor under the stock around $400. but going forward, it's going to be new products that really drive this stock. >> all right. good to see you both. thank you. james, we'll let you get back out into traffic. i hear it's a lot of fun out there today. >> thanks, bill. >> thanks. >> see you later. >>> there's some, what we call i

apple. >> you short them and go, that's a great call. >> talk about, for a second, i had a conversation withng a couple of beers and barbecuing and he was saying there's a story we were going to do for the "wall street journal" but there's which flash freeze about short sellers soaring this year. jim, why some of the most heavily shorted names have gone the opposite way. my theory was, it could be complete garbage, because of all of the social media now in stocks, right, whether it's -- >> zillow -- >> no. >> i meant the most highly valued. >> we're almost seeing -- we always pick on bill ackman -- the retail investor has the able to go after stocks that are shorted en masse together in a way that they've never had before. >> they don't know there's a -- they don't know there's 25% tesla short, right? they just like tesla, right? >> if an article comes out -- i'm making a name -- the second highest short on the market and all investors are share that idea rapidly, right, online. >> right. >> they all start buying it. they create their own short squeeze. >> that -- >> maybe it's garbage. it's

apple to come back a little bit here. the valuations look good. the only thing in the short term there is some down-side risk if the market rolls over-- if we get our taper information... alan: i want to talk about the market in general. the vix did not make new highs when the market made new lows here this week. that could be a sign of some bullish divirgence, and the overall market can make a nice move up from here. angie: well here's your bonus round question here guys, it's for labor day: which of these statements are true about labor day? labor day originated in canada, labor day started in the u.s. in 1882 in new york city, the first waffle house opened on labor day in 1955. alan: well if it was in canada, it would be l-a-b-o-u-r,so the answer is no. james: and i think it was... i think it was the canada one. alan: b! i pick b! angie: they were all true statements. alan: oh man! every time you get me! james: that's a trick question. angie: every time! i'll tip you off next time if you, you know, give me a little on the side. thanks a lot, guys! alan: thank you. angie:

shortness of breath. difficulty walking upstairs, chest pain, new onset of indigestion or trouble sleeping or fatigue. we have more information on abc 7 news.com. >> coming up, apple announces an accessory trade in for safety sake. >> and the big blob of problems that washed up in an overseas sewer system. >> live from the roof of the kgotv broadcast center i'm sandhya patel. strong marine influence bringing below average highs when changes will arrive coming up. >> then, michael finney takes a look at those prepaid visa cards and hidden fee that's could diminish value. stay with us. >> this fire broke out in the grove this morning. firefighters don't yet know how it started but say not arson. crews were able to contain the fire away from nearby homes ask the cemetery which has great sites dating back to civil war. nothing burned other than vegetation no, one was hurt. the cause of the fire in a storage facility is under investigation tonight. it broke out at public storage on fill yeep -- phillip avenue. firefighters were able to knock it down but not before four yin yuts were destroyed. renters showed up to pick through what is left. >> supporters of trayvon mar

short-term cloudy. if you buy for ten years because you believe it's on a turnaround, don't let an apple thought or oilces hurt your long-term thesis as long as is not directly correlated. things are falling apart. factories. everything is still on track. i think that's what happened to the average investor. >> so many people out there are reluctant to buy things like general mills or nike are things that they use in their everyday life. i find it fascinating. watch this show last night. the nasdaq was down 79. what the heck? no one ever promised it would go straight up. >> i have to take a difference. i don't think there's anything today you can just buy and hold for ten years. the have to do your homework and watch these things. you have to invest in the fundamentals. sometimes a change, and when they do you have to get out. charles: as the point. fundamentals can change. >> absolutely. you have to pick your poison, and you will be right all the time. if you pick ten stocks and you're right five times, two of them do nothing and three blow up, you'll be way ahead of the game. if you invest $1 in 1970

look, hire the guy that redid apple stores, i mean, we're talking about apples and oranges, no pun intended, phones and shortsin the retail industry don't make the distinctions. i agree with you. tonight, you know, if you want to hear something other than the jcpenney story, tonight, we're talking about the outrage over congress not having to play by the same rules of the rest of us with obamacare. new polls out there, people are upset about this, and we'll have douglas holtz-eakin on tonight to talk about it. you know, he's one of the brightest people on the topic of obamacare, knows it inside and out. join us at six. tracy: we will. six and nine p.m. eastern here, geirr, thank you very much. ashley: i was looking for, like, a men's wallet, and it happened to be there in a mall in connecticut, playing music from the 1970s, just felt very old. i go into macy's, upbeat. tracy: i'm with you. all about the tunes. ashley: it helps, puts you on a good mood. on deck, criminal charges coming in the london wale case, former senator says that's not enough. he'll be here next. tracy: look at the 10- and 30-year treasur

short. we're not out of the woods, but today's an interesting day, liz, i would agree. what stands out aside from the appleews and justice department and airlines is the financials. i mean, as a sector, the financial stocks are agenting great again, and they are, after all, the life line to the overall u.s. economy, and i think it's pretty significant when that sector starts to act well, using the rest of the market somehow follows. liz: well, okay, and i began saying that ninth session in a row we see before noon, i turn the head because i have notes all over the place, ran here after i got off the phone, and, again, we have a great move here in the s&p above 169 #, an earlier level, charlie, people watched. what are you looking at now as we sit here mid-august waiting, waiting for something to happen? >> well, you know, i think we're mired in a trading grade, liz, and in between, really, 75 to even or 1675 to 1700, and 1688's a big pivot. i noticed what you did, liz. what i heard is that you're seeing a lot of managed money selling stuff in the morning and retail coming in and buying it later in the day.

short of the target we talked about. however, all this happened months ago. but that's all rearview mirror. what's the relevance to apple? simple. whenever she sees a cluster, it tells it it's likely that the stock will see a major trend reversal. according to the fibonacci queen the low that apple made back in april is critical and it's a lot bigger than the one we have seen. we have seen a monster. since then, more signs that convince her this run in apple is for real. look at the other version of the daily charts. it's a ton of grist for the bulls. first of all, this is a more traditional chart work. apple made a double bottom when it retested the april low in june. here's one bottom and then the second bottom. and then the support held. since then the stock has been en fuego. apple's average crossed above the 13-day moving average. this is what's known as a bullish crossover. just the 5 and 13. look at the red and the blue. this is stronger than the longer term trajectory. and then apple crossed the 50-day moving average. something a lot of chart oriented traders followed in late july and then this past month, it br

apple. it became a huge part so we sold some. it was right. and of course shorterm rallies give you a great chance to unload these risky momentum names at great prices even if the stock is still an amazing story. no one ever lost money ringing the register. you don't have to sell everything. you can keep some shares on the table. just please ring the register on some of them so you're playing with the house's money. those are the good stocks you should sell into strength. what's worth selling that's no good? well, of course you should get rid of anything you planned on selling before the rally. that's the preparation part. and you can dump these losers in larger increments because you'll probably be getting such good prices. then there's the losers club. big short-term rallies are a great way to test what you own. if you have a stock that went down during the rally on no news, then that stock i'm calling it a loser. a dud. if you can't -- if it can't get any lift on a huge up day, then maybe it's not going anywhere at all except for down. the stocks that do nothi

apple. it became a huge part so we sold some. it was right. and of course shortgive you a great chance to unload these risky momentum names at great prices even if the stock is still an amazing story. no one ever lost money ringing the register. you don't have to sell everything. you can keep some shares on the table. just please ring the register on some of them so you're playing with the house's money. those are the good stocks you should sell into strength. what's worth selling that's no good? well, of course you should get rid of anything you planned on selling before the rally. that's the preparation part. and you can dump these losers in larger increments because you'll probably be getting such good prices. then there's the losers club. big short-term rallies are a great way to test what you own. if you have a stock that went down during the rally on no news, then that stock i'm calling it a loser. a dud. if you can't -- if it can't get any lift on a huge up day, then maybe it's not going anywhere at all except for down. the stocks that do nothing in advanc

billionaire investor carl icahn who suggested apple stock is undervalued and then made a large investment in the company. the stock rose 5% yesterday but still far shortits 52-week high. >>> the biopic about steve jobs hits the box office this week. ashton kutcher hit the red carpet for the hollywood premier of "jobs." kutcher wore a white cardigan over a plaid shirt as he greeted fans last night. he plays the title character in the new film that covers the life and career. >> jobs a whole lot, uhm, i think i would probably tell him what i was trying to accomplish in my life and ask him to be -- to geneva me some brutally honest -- ask him to give me some brutally honest feedback. >> the movie opens friday. city. >>> time for business news. here's wendy gillette from cbsmoneywatch.com. >> reporter: good morning. the federal government and six states are sued to block the latest proposed merger in the airline industry but analysts say for many travelers, that step is too late. yesterday, the department of justice grounded the $11 billion deal between american airlines and u.s. airways. the government says the merger would cost consumers hundreds of mil

apple. >> not even at 380, ackman didn't go short? >> i think to david's point though because this is carl's money. this is a potentially dangerous place for tim cook. don't you think? it's one thing when david einhorn comes down with a strict. if carl wants to shake you up carl doesn't care, he's going to shake you up. >> those who have gotten the call from him, aubrey mcclendon, former ceo of chesapeake found icahn, very reasonable man, has good ideas. it's not like mike wallace online one, the old joke, the most -- the most diangerous cal in the world. icahn is a guy you've got to listen to because he's been around forrer but einhorn has been around forevered. and that one was not amiable. >> and they fought him very quickly and rather successfully. now, you do get back to the point that there's not how much can an icahn do in a largest market capital in the world. it's not as though he can take a sizable position and threaten me could move to a proxy fight. you don't know where all the large shareholders stand. but it seems unlike

apple really taking off as i hope you say. earlier this year the battle over herbal life. bill ackman on the short side and the longs seemingly to up this one. you don't want to be short on a stock going up 100%, do you? jc penney has also been targeted by ackman and target was for what it's worth. that stock, penny, not doing particularly well in the past year. he's long on that one. now, dan loeb went offer sony. shares up 71% in a year and down 9% over the past month so the question for the jury here, folks, is should the average investor follow the big guys like carl icahn or ackman or loeb and others, and also are there concerns when an activist investors like icahn goes on twitter to rereal their position. welcome to you both. bethany, what do you say here? is it fair play for a big investor whether it's ackman or icahn or somebody else to go and tweet that he's just opened a big position in a company? >> well, look, it is turning the stock market into the wild west by the prevalence of people being out there and sort of talking their bok and touting their positions but where i come out, if

apple. there are people that believe mr. icahn is in it for the shortd you're clearly in it for a much larger picture and broader picture. thank you for joining us on "markets now." >> thank you, sir. adam: turning to activity making headlines, bill ackman. he sat down with charlie rose for his first interview in months and involvement with jcpenney and trying to turn that company around. this is a quote. we got too much credit for ron johnson's hiring and when the business failed, i probably got too much of the blame. as for johnson, ackman believes he had good fundamental ideas but his biggest mistake short term was eliminating coupons. ackman stepped down from jcpenney's board of directors yesterday. he said it was time and that he achieved all he could and wants to restore peace in the boardroom. as of now he is still jcpenney's largest shareholder, something like 17.7% but the next real test for jcpenney could come next week when the retailer reports earnings. that will take place tuesday and we'll have them for you. >>> criminal charges against tw

shares are down more than 80% since the apple iphone was released in june 2007 equating to a market cap loss of roughly $30 billion and over the last six months short interest as a percent of shares outstanding has been steadily increasing now at 35%. tyler, back over to you. >> thank you very much. we appreciate that. seema and scott and i are still talking here about ackman, et al. priceline closing in on $1,000 a share and josh lipton has the flash desk with a deal for us. >> we're watching prideline hitting a new all-time high today. the online travel agent surpassing its previous record of 990 in april 1999. that stock moving sharply higher, now up some 60% so far this year. now this is a real comeback story. remember 2003 priceline.com almost history, trading below $2 per share and had to do a reverse split. after the bell yesterday, priceline reporting results that beat gross bookings up 38%, international bookings jumped 44% and domestic bookings jumped 12 pass. raymond james, cantor fitzgerald, lazard raising their price targets, calling the results very impressive and calling priceline a premiere internet franchise. it looks like today at

apple though one of the few standouts today after megainvestor carl icahn took a large stake in the company. macys came up shortnks and weak guidance. after the bell, cisco announced it is laying off 4,000 employees. the stock has taken a beating in after hours trade. that is it for now. we are firsts in business worldwide. now it's back over to "hardball." >> hillary clinton in the general election can beat john mccain in florida, she beats him in ohio, shoo he beats him in missouri. this is about winning the election on november 4th and helping the down ballot races. she has won the 208 congressional districts key to us winning to keep the house of representatives. tomorrow something new could happen. nothing's impossible. >> welcome back to "hardball." you may have thought the hot governor's race in virginia was about terry mcauliffe versus ken cuccinelli. it's actually about hillary clinton. that's because republicans are using the virginia race to test drive attacks against hillary ahead of her potential run for president in 2016. america rising, a super pac made up of several former romney aides is the sa

lot of the problems people point at ron johnson coming in from apple, an i didn't i understand how to translate sale of iphones to shortslost old customers, trying to get the new people, can't get the old customers back. where's the value going forward, then? >> well, again, hard to say. look, i follow the story closely now for a year, and all through, you know, most of the ron johnson tenure there. still maintain that ron johnson was doing some of the right things, and i think its execution was flawed, doing too many things at once, way to abrupt in changing the prices, and i think there was probably some mart to that, and that's bringing better product to the stores, better looking stores, so now what we said is we have a very disruptive store, to your point. there's consumers confused. you know, there's some who walked from jcpenney permanently, some coming back now, but they are confused what's going op in the store, but, again, i don't think the damage is ire repair l at this point. >> stock down 70% since february 2012 high. is there any reason that you would say, to your point earlier, the stock is cheap, could h

short term. it's a billion dollar company, and they can endure the losses, but i think broadly, this might actually be long term not as good for appleple think. liz: why not? >> viewed as american protectionism. as much as the ruling is a just ruling, a strong basis in just the public interest and not just regulation, it's, i think, overseas, in many markets, and, remember, global companies, it's going to be looked at as basically the u.s. government sticking up for apple. liz: by the way, samsung has a ruling, very he said, she said, apple slammed down on one, but on other, samsung had rulings not in its favor. >> definitely. they have not done well in europe in similar cases, the standard essential patent here is kind of called into question whether it's essential, but the -- there's fighting in many countries, and samsung's taking more licks than apple lately, and that could be bad to the bottom line. liz: do we have a window into the administration's future decisions on intellectual property decisions? >> well, it suggests they are ready to step up to the plate and make a push to rape in a system that, i think, some of have gone