>> sold citigroup and i'm buying suntrust. i've liked suntrust far long time.eason i like it is i see growth. i think you'll seibert than expected loan growth than the industry average. we also have an aggressive cost-cutting program so the efficiency target is 60%, at 65% currently, and as they lower their expenses and see higher top line, you'll see positive operating leverage. i think there's more upsides than citigroup. >> you're not making a statement about the big banks in the current environment by making this trade. >> no. if i had to own -- and we do own several of the big banks, i actually think the juice is at goldman because i think you'll really see the judgment side from m&a and that stock has massively lagged morgan stanley in the last 18 months. if you're going big, go there. >> coming up, see a theme out there but don't know how to invest in it? there's a motif for that. hardeep walia has baskets. with all the opinions about stocks out there, how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 ind

suntrust looks good.till like facebook. >> we will go on until he admits he got this one wrong. >> i like facebook better than i liked linked in, i think i said that at the time and i think the quart shows out and think facebook will have a high in the next six months. >> let's call the financials out as we called joe out. there they go. >> from where we were before we're seeing a nice turn around. >> regionals and insurance companies? there was a column about they're large caps, paying dividends, why aren't they going up with the rest of the large cap dividends? >> watch some brokers, too, judge because they benefit as much if not more as concentrated margins. >>> coming up, great expectations, apple's biggest event of the year and we will go there live and find out what the company needs to do in order to live up to all that hype. (mother vo) when i was pregnant... i got more advice than i knew what to do with. what i needed was information i could trust on how to take care of me and my baby. luckily, u

>> stock soaring following a suntrust note suggesting that allergan could build for the company.right. allergan could buy shire. a hostile offer for allergan consisting of $72 share in cash and 8/10 in value. expiring on the 15th. overall, the nice move for at least one soap opera that could be developing according to analysts osier at suntrust. back to you. >> a new chapter. thank you, dom. >>> coming up, the gridiron, digital currency behind college football and plus all of you watching, i don't chance to be part of "squawk alley." >> announcer: got all the answers. now you can make your voice count, on cnbc live. go to cnbc.com/vote right now. let us know what side you're on, at cnbc.com/vote. ♪ ♪ ♪ great rates for great rides. geico motorcycle, see how much you could save. they challenge us. they take us to worlds full of heroes and titans. for respawn, building the best interactive entertainment begins with the cloud. this is "titanfall." the first multiplayer game for xbox one built and run on microsoft azure. letting gamers around the world interact in ways they never thou

they were suntrust earned him enthusiastic applause. poland vowed never to go back. >> the leaders of the world's eight top countries were supposed to be meeting this week in the black sea. but in rare cute and made himself persona non grata with that group following the annexation of crimea rough. >> now the g7 summit is taking place at the eu headquarters in brussels with the top two officials. the german chancellor and francis holland. -- francois hollande. i was europe responding to the toughened stance against moscow on ukraine? let's bring in nina hansson. this president obama have the backing on this new stats? >> first of all, the very reason for this meeting is to show russia that they have isolated themselves with their behavior. it is as colluded from the powerful nations and that is a strong message towards russia. it is a forum where leaders will be discussed openly and frankly and directly with one another, sort of behind closed doors. this issue will dominate talks tonight and some diplomats are saying that the question o

suntrust will happened over nearly $1 billion. half of that will go to consumers who owe more on their mortgages than their homes are worth. the justice department says it expects more settlements in the future. >>> and honda is testing the car of the future. not only does the electric car park itself in your garage. you don't have to plug it in. it recharges wirelessly. cameras and sensors have to be installed to make sure the car avoids obstacles. honda engineers hope to have it on the road in the near future. anne-marie? >> jill wagner at the new york stock exchange. thanks a lot, jill. >>> straight ahead, dr. oz goes to capitol hill. the doctor host fights allegations he plugged weight loss aids on his show. ...exclamation point... happy smiley face? yes, i did! did you know that more people prefer viva® vantage over bounty? no... i'm gonna show you why. it stretches... stretch...stretch. it has a stretch. it stretches! oh, i wish my jeans had that kind of stretch. [ laughs ] you use that stretch to get the scrubbing power. i

a high school grudge anyway onto another big story that mainstream headlines seem to have missed suntrust bank has agreed to a massive legal settlement that could bring some relief to florida residents who are victims of the two thousand and nine mortgage crisis the d.o.j. settled with sun trust for nearly one billion dollars following a lengthy litigation which targeted to lenders and loan modifications and foreclosure abuses the settlement includes a forty million payment to provide some relief to sun trust borrowers who are forced out of it's between eight and two thousand and thirteen now this lawsuit is certainly a win for some but doesn't come close to correct in the wrongs and acted on the millions of americans directly affected by the mortgage crisis keep in mind that between two thousand and eight and two thousand and nine there were over six million homes listed under foreclosure and while the billion dollar settlement might be a good first step slapping the wrist of these predatory lending agencies won't come close to the accountability regular people deserve. and speaking of d

suntrust agreeing to pay close to a billion dollars to settle federal and state claims in terms of mortgagerobes. george's biggest lender is a prime example of the underwriting failures that helped to bring about the financial crisis. motorso of general returning to congress. this is after failing to satisfy earlier questions about why they did not act sooner to reveal defects lead to fatalities. they recalled another 3 million cars. she will not accept business as usual. of the a look at some top headlines. >> thanks very much, carol massar. oracle is said to be close to a deal to buy the hospitality software provider micros systems $5 billion. the two companies are in exclusive talks. schurman helped to break break this. alex, let's start with you. what is the news that we know. >> we learned that oracle, which --a very inquisitive acquisitive company. they are in exclusive companies to buy micros, which is a software manufacturer which makes software is for hotels, restaurants. >> the hospitality industry. if you have ever worked behind a desk or the front office, you are looking basical

suntrust banks agreeing to pay an almost billion dollars settlement over mortgage practices.g a settlement in its class action lawsuit. a reminder, our financial report, coast-to-coast on the salem radio network for all of the day's biggest business news. common core facing a sharp national backlash. while the educational initiative is adopted by 35 states and the district of columbia, now more than 340 bills in every state introduced in the legislatures to modify, the late, revoke implementation of the common core curriculum. indiana, oklahoma, south carolina passed legislation this year to withdraw from the common core standard. a dozen states have dropped out of the testing groups or delay the implementation of testing for at least another year. our next guest tonight is supporter of common core. joining us is randy weingarten, the president of the american federation of futures, and it is a great pleasure to have you here. >> great to be on. lou: common core, i good idea, it sounded like. but the way that it has been moved, implemented has created problems of its own, and

suntrust agrees to pay almost $1 billion settlement over a mortgage practicesacti after reaching a settlements-action lawsuit and a reminder to listen to my financial report three times a week coast-to-coastr for the biggest market and business news. common core of cases of sharp national backlash while the educational initiativec of 45 states with the district of columbia nowa more than 340 bills in every state introduced into theto m legislature to modify, delay or revoking implementation of common core curriculum indiana and oklahoma south carolina have passeda pa legislation this year tow withdraw from the common core standard and anothertes dozen states have dropped out of the testing groups or to delay at least another year. the next guest is aon supporter in joining us isndy the president of the american federation ofut teachers and it is a greatl pleasure to have you here. common core. a good idea if it soundedd like but the way it has beenen moved on implemented it has created problems of its own and the states are repellingo -- rebeling. >> common core done right is a good idea that

. >> suntrust did confirm that it still processes transactions from the highest to lowest amounts.dding it didn't charge overdraft fees for any items below $5. congresswoman from new york wants to make banks more accountable, and is cosponsoring a bill that would require more transparency from the banks, and regulate the fees that they charge. >> what i have seen is oftentimes a consumer will make four or five, six small pur chas and end up in 500 in overdraft fees. then they are trapped with interest rates that they have to pay off, that keeps them in a cycle in poverty. >> it's a lesson jacqueline has learned too well. >> i closed the account and decided to get a bank that is safer, that doesn't do this kind of tricks. >> for now the consumer financial protection bureau recommends that you track your balances carefully and link your checking account to your savings account. obviously the best way to avoid overdraft fees is not to withdraw more money than your account holds, but emergencies do crop up, so what other ways can you protect yourself from onerous fees. let's bring in a

. >> suntrust. >>> power begins now. thank you very much. >>> and the apple worldwide developers conference beginning any minute now. that is video from just a short while ago, people lining up in san francisco. we have a full team inside that hall, and we're getting video, pictures, information from inside. cnbc scott just took this picture as the people attending the -- apple share is down 32% from the summer of 2012 to the summer of 2013, down it's almost half a percent on the trading session at $630.06. in the last year, however, the stock has seen a dramatic turnaround, up more than 40%, ty. >> and carl is live in san francisco, my friend jim cramer is here to help us through this hour, watching all that is going on with apple and the developers conference. carl? >> hey, guys, buckle your seat belts, keep your arms and legs inside, the next hour is likely to be choppy with a lot of headlines. we will have our ear tuned. we're actually told he may not speak as long as craig feteriggi, who is in charge of software. it

. >> suntrust. >> obfuscate, that's probably the only time we seen that on this show. in terms of google, i think there is off catalyst to get google up to 600. at 600, i'd be worried. that's the area it broke down. the next 16 points i think they are okay. >> i would surprised it stayed down around the 520 level as long as it did. i think they have a lot of blue sky. i think it's going to that 600 level. facebook is releasing its diversity numbers for the first time. >> reporter: the facebook diversity break june, the melty melt split is 69-to-31%, roughly in line with google. the company is 57% white, 34% asian, 4% hispanic, 2% black. senior ranks 77% male, 74% white t. company says it is implementing a variety of strategys to inceo es the tool from underrepresented communities. melissa. >> julia, thank you for that. bed, bath and beyond sinking on weekly quarterly results. is this another bad sign for consumers, that's next. plus the ceo-of-hasbro will tell us of its new line of transformers coming up on "fast." . >> yes. >> i know. >> bed, bath and beyond dropped i

suntrust, keycorp, now rebounding in the south wells fargo has been terrific forever, but have you noticed over the last few days jpmorgan has been creeping up too. remember them? they already preannounced terrible trading revenues, maybe this is damning with faint praise, but if you preannounced you're doing horribly, maybe you don't need to preannounce you're doing horribly again. remember how bad we were? well, we're still band. that hasn't been the trend. how about a third good trend. i like the way the airlines keep blowing through key levels. every 30 seconds on twitter people say, do you still like the stock of american air? i mean, c'mon! less competition, ticket prices staying strong. good luck getting a new plane anytime seen, plus with oil so high, you can't do much with the older model. american and delta remain my favorite. delta over 40? how about that? finally the urge to merge or wither away in the food aisles continuing. pilgrim pride topping the offering from tyson food. to deal with who? to deal with your customers. who are their customers? walmart. do you know walmart i

is bank of the west, american bank, bank of america merrill lynch, pnc lynch, pnc, deutsche bank suntrustuntington bank regions but mitchell corporation and northern trust. we will have a question and answer session we ask you to have a question state your name and the name of your publications let me introduce the chair in chief chair to get things started. >> good morning i know when the meeting falls on an employment friday it can be tricky to get away from the desk summary appreciated that you are here. i think if you picked one word with that consensus view we are optimistic we will see solid grossi and into next year of course, gdp growth fell 1% that is in part so weather but also a global slowdown of activity half the first quarter that it minibuses violent inventory correction but the big news and bad news was confirmed to this morning that we are back on a much better track 217,000 jobs to day on average about 250,000 in the first two months of the corridor is confirmation to not only have a decent balance of activity be expect gdp growth will reach almost 4 percent but not quit

. >> feel like i have been talking about financials forever, really bullish on them, suntrust in my playbookast week. i'm not gonna pound the table on that one, i do like tm and t bank a lot the regionals, one i think lagged on the big side is goldman sachs, lagged 22% the last year. play m and a, best in breed, highest roe in the business that is the one, valuation is attractive. i like the industrials within that, non-res construction, look at hd supply today, a very good quarter and said that non-res construction improved throughout the quarter, 4% growth in sales in march. that increased to 10% in may. seeing acceleration and i have said eaton and ingersoll rand, own stanley, black & decker, like hd supply, i like the late cycle chemical companies, dow chemical, a restructuring story happening, an activist at the same time, i think that stock works higher. >> josh brown, you are up next. pound it >> yeah. >> pound the table. >> give you -- >> that's my pound. >> i'm gonna give you two somewhat relate bud not really. start with sun power. got news from buffett talking about the solar indu

the west, robert west, robert, america bank, bank of america merrill lynch, pnc, deutsche bank, suntrustntington bank, regions financial corporation, state street street, and northern trust. after today's forecast we will have a question and answer session repassed you please state your name in the name of your publication. salome introduced the chair and chief economist to get things started. chris? >> good morning and thank you for being here. i know it can be tricky to a get away from the desk on a friday so we appreciate that you are here. i think if you picked one word to describe the mood in the room yesterday as we sat down to discuss our forecast it would be optimism. we are optimistic that we will see solid growth going forward through the rest of this year into next year. in the first quarter gdp growth fell 1% that was in part the weather but more than that. it was the global slowdown in activity that looks like dave mini but violent inventory correction. the good news and bad news was confirmed this morning that we are back on a much better track. 217,000 jobs to day on avera

suntrust to provide relief to homeowners and reform.it does admit wrongdoing in a civil settlement here. >> scott, honeywell celebrating 100 years. company executives are here ringing the closing bell later. first they are talking to us. >> we have a plethora of activity on the set today. that stock is higher as honeywell trades not far off the 52-week high. let's get to it, talk about the trends in their businesses. honeywell ceo dave cody is back with us. tim mahoney is next to him and then honey well performance and technologies ceo darrius adonchick. how did i do? >> very well. >> a hundred years. >> pretty cool. >> and the evolution. >> it's changed a lot. both tim and darrius will tell you it was almost within two days of each other a hundred years ago it started. from that $40 billion company that's doing well. >> if there is a theme of the show it has to be energy. we are talking to tesla about lech are trick vehicles. the reason we have plants is we have biofuels to power aircraft. how different is the future of energy and emis

rob peck, i think, he's been great at suntrust. >> he's on our show at halftime too. >> i did not know that. synergy, look at that promo. it happens without knowing that you're doing a promo. of course, one of the things -- gross profit could lift 1%. now, i like gross profit. amazon doesn't have that much of it. this is the problem. you get behind them now after a big run, and then the market changes coloration, fed says the wrong thing. why did i like amazon? oh, that phone thing. i i'm just saying, earnings per show. abobe has earnings per share. i do not have to give you faux cloud. >>> a live shot in seattle where the live event takes place this afternoon. expected to unvail a phone. who knows if it's -- we presume it would be. >> do you have a kindle? >> i do not. >> i have a kindle. i have an ipad. i mean, you know, i'm -- i like to think i'm alone in having every one of the devices. seems like everyone has every device, playing gaming, signing up for netflix while watching, amazon prime, and googling everything. >>> amazonments to be the company of everything, right? >> yes. >>

lynch, stuart hoffman, pnc, peter hooper, deutsche bank , nathaniel carp, bba compass, greg miller, suntrustge machon, huntington bank, richard moody, regions financial corporation. christopher probin, state street, and carl tannenbaum, northern trust. after today's forecast we have a question and answer session. if you have a question you please state your name and the name of the publication. without further adieu, let me introduce chris lowe, aba chair and chief financial economist to get things started, chris? good morning, thank you for me being here. i know it when it false on a friday, it can be tricky to get you away from the desk. i appreciate you all are here. if you pick one word to describe the mood in the room yesterday as we sat down to discuss our forecast and form the consensus view, it would be optimism. we are optimistic that we will see solid growth going forward through the rest of this year and into next year. in the first quarter of course gdp growth fell 1%. that was in part the weather but it was more than that. there was a global slowdown in activity in the first qua