trulia offered six million shares priced at $17 each. they closed the day up $7 at $24 a share even. investors are hoping trulia, can perform as well as rival zillow. that company's stock more than doubled since going public a year ago. >> susie: tom, besides trulia, four other companies went public today, three finished the day to the upside and one, higher, was flat. >> tom: pretty good indication of investor demands. let's get going with tonight's "market focus." >> tom: the weaker economic data from the u.s. and overseas hung over stocks, but the major indices cut earlier losses by the closing bell. the s&p 500 hit its lowest price of the day in the first half hour of trading. the losses were pared back through-out the session, to end with a fractional loss. volume was 675 million on the big board. 1.8 billion on the nasdaq. in the lead, the consumer staples sector up 0.6%. the industrial sector was the drag, down 0.9%. and it was a trio of railroad stocks weighing on the industrial sector. norfolk southern's earnings warning late ye

so i don't see why trulia should do worse admittedly it's smaller. but it's coming in at a 67% discount to where zillow is in terms of market cap. so it would seem to have a little bit of room to grow there. >> smaller may be beautiful for ipos as you point out in your column. facebook maybe killed the big ipo or certainly held some people off for the time being. dan, thank you very much for joining us this morning. >>> and before we go, let's take a quick look at how markets are did doing as noted earlier. it is kind of a risk off mood this morning. the dow pointed lower. manufacturing activity in europe and china contracting and daimler talking about weakness in its mercedes-benz unit. can anything turn the market around? we'll keep an eye on jobless claims. now here's u.s. "squawk box." >>> today's top stories, a drop even morrow announced than the previous pop. oil prices fall into a six week low. the future of finance. bank of america reportedly speeding up a broad cost cutting plan that includes jobs losses. and why goldman ceo lloyd blankfein

. >>> the local company, trulia had its ipo this morning. we'll tell you how the stocks are doing. >>> meantime, the san francisco district attorney is announcing an elaborate real estate scam which swindled millions of dollars from banks. the crime involves a $2.2 million mortgage fraud scheme that was broken up two years ago. four men were charged in the case. they are accused of forging documents to make it appear as if they owned three condos in the building. the trial last the for six months -- the trial lasted for six months. we'll have a verdict when the announcement is made. >>> make room in your mailbox for more ads and catalogs. i'll tell you why the postal service will be delivering more junk mail at your doorstep. >>> and as summer ends, you may be wondering if the cool temperatures will continue. >>> and we'll show you the dramatic video of what happened when a car crashed into an east bay gas station. oÑ have you heard of the new dialing procedure for the 408 and 669 area codes? no, what is it? starting october 20, 2012, if you

trulia still priced to open high er.ou. >> remember how he would say, big numbers, prove it. >> it's opened. 22.31 is where it is right now. >> the power of trulia is media stocks. we called it, yes, indeed, real estate porn. >> who doesn't like to look at the listings? >> because we never stopped being aspirational. >> no, exactly. >> it's america! >> it's our baby. you can always include square feet. >>> let's go back to mary to check on trulia. >> let's go back to mary and do that. mary, are you there by the post? guess not. you can never, ever look dumb. it is not possible. >>> you are going to be speaking on our somehow. zulo has a deal with yahoo!. i really wonder if it needs a deal with a portal to maintain. >> that's interesting, we'll ask. >>> thank you, jim. let's pay attention to updating how the credit markets and treasury markets are adjusting after qe3. if you look at a 24-hour chart, we can still see the continued slide of rates lower. it's been a little bit almost every session. if you open it two-thirds

last week a main competitor, trulia came public. that the market has become more crowded with these online real estate plays, is zillow too hot to handle? i have little doubt that zillow will wipe the floor with the competition. that's my take. these online business are all about mind share. zillow is the mind share leader. the company has a smart mobile strategy, including a smart app that's designed for renters. the stock is expensive. zillow sells for 64 times next year's earnings. that seems less daunting when you consider the company has a 40% long-term growth rate. zillow just did a four million share secondary at $43 a share. it's now more than a dollar above that level so you made money if you got in the deal is. this the ideal to play the housing rebound, or is it a red hot stock? let's talk to the ceo of zillow, find out more about his company and where it is headed. welcome to "mad money." thank you for coming on the show. >> thanks for having me. >> we've had a lot of people chattering. lennar had a great number. kb home

. >>> on the first day of trade, online real estate site trulia soared 41%. >>> walmart has pulled amazon's kindle off shelves as competition heats up between big box stores and the online retailer. >>> a senate committee says mike could he soft and hewlett-packard used off shore units and tax loop holds to shield billions of dollars of profits. both companies say their strategies are legal. >>> a new chemical analysis shows tar balls washing up are directly linked to the bp oil spill. >>> the trustee playing claims for bernard madoff's $17 billion ponzi scheme says so far $2.5 billion has been returned to victims. >>> apparently undeterred by widespread complaints about apple's new mak app, customers snapped up the first iphone 5s overseas this morning. >>> finally at this year's mad science mecca, two japanese researchers received the 2012 ignoble prize for their speech jamming device which echos your voice back to you with a slight delay. only slightly annoying. >>> well, coming up, the giants crush the panthers, tigers tied for the lead and two major league teams clinch playoff spots. >

trulia really taking the show. pricing a dollar above its range, it's jumped close to 50% on its opening trading day. steady gains of just about 10% from the mid point of its price for the energy company. while all stocks that debuted today are in the green. not all have had such rosie reception from the market. the two banks, capital bank and national bank holding priced below their expected range, and only up slightly on the day. capital also priced below its range, it's trading roughly flat. it's hardly enough to lift the performance of the broader ipo class this year. it's up according to renaissance capital. that means it's widely performing. it still hasn't ripened, which could be a problem for smith electric. the company makes electric vehicles and it's aiming to raise about $76 million if it prices at $17 per share. don't pounce on this one. the company is asking investors to pay for performance before it happens. you can't know how these things turn out until they price, when they trade. we're having a bus

take a look at trulia.riced at $17 a share, best performing of the ipos trading on the new york stock exchange in their first day today. checking on others, we have national bank holdings up slightly after pricing at $19.50. then also susser petroleum higher as well in the wake of its ipo. it actually priced at about the mid point of its range. then spirit realty, or src, priced at $15 a slight uptick there though it did price below the initial range. i want to close with jeffries. this has something to do with a story we followed a little over a month ago. jeffries came out and reported earnings better than expected thanks in part to the stake it in knight capital. it is up over 20% since then. jmp's analyst said if you take out the addition of knight, the company's earnings and revenue rose slightly shy of what his estimates were. given that we saw the strong run-up in the stock and given that maybe the earnings weren't quite as good and some people on the street expected, the stock is moving down today.

trulia will begin trading tomorrow on the new york stock exchange under the symbol trla. >>> stores located blovd the country club village shopping center. 50,000 square foot scheduled to stay open 24 hours a day 7 days a week. the chain had met with opposition the local supermarket and the united food and dmeshl worker union. has created 85 tubs and the company is still hiring. >>> lindsey lohan has another date with a judge this time for leaving the scene of an accident in new york city last night. the police say was driving slowly in the driveway when she clipped a hotel employee with her por sh and kept ongoing. the victim called 911 and was seen for a knee injury. she was arrested 2:30 this morning. police say no alcohol was involved in the incident. >>> the san francisco 49ers are off to a fast start this season and so is the new stadium. robert honda shows us the progress with this exclusive behind the scenes look. >> from news chopper 2 it's hard to not notice how the $1.2 billion stadium is already getting. the ground breaking was in april. the steel beams started going up july 30t

. >>> on the first day of trade, online real estate site trulia soared 41% from its initial offeringrice of $17. >>> walmart has pulled amazon's kindle off shelves as competition heats up between big box stores and the online retailer. >>> a senate committee investigating the corporate tax code says microsoft and hewlett-packard used offshore units and tax loopholes to shield billions of dollars of profits. both companies say their strategies are legal. >>> a new chemical analysis finds virtually all tar balls washing up in alabama since hurricane isaac are directly linked to the bp oil spill. >>> the trustee paying claims from ber nad mod dove's $17 billion ponzi scheme says so far $2.5 billion has been returned to victims. >>> apparently undeterred by widespread complaints about apple's new map app, customers snapped up the first iphone 5s overseas this morning. >>> and finally at this year's mad science mecca, two japanese researchers received the 2012 ignoble prize for their speech jamming device which echos your voice back to you with a slight delay. i'm not sure why you'd need

and truly -- trulia now says if under riders exercised their options to share sells the stock went upby 40% yesterday here is more good news, kabee home reports an increase in orders for new houses. the company turn aid profit last quarter and on wall street the stock rose 5%. and american is in bankruptcy hoping to cut $1 billion in labor costs. >> and when we come back tonight at 6:00 the gun used on a group of police officers overnight. why they're now coming under fire from a radical protest group. >> the i team looks into why a school district has a hire a pr firm just to answer questions about a solarar project. >> and the state puts a new priority on space exploration. abc 7 news >> there is a chaotic scene. an officer shot and wounded a reputed gang member last night sparking a protest and it appears the victim was armed with an assault weapon. and we're live with exclusive information about the suspect. >> you can see that police have removed graffiti from door steps here at mission station. but they have yet to release the name of the man who was shot. we do know he was arme

and there is trulia says it's cheaper to rent in every area in the nation on. the obama administration says $1.2 trillion cuts woil wo have a devastating impact on defense and other programs. the white house office of management and budget says it would have to cut $109 billion in defense programs with medicare, markets rallied as bond purchase program starts to take affect. your bloomberg silicon valley closing higher, also and there is time yet again. there are holiday spending plans already, walmart coming out with top 20 toys so kids may be asking for, get ready, start sthoping, get your furbie. there is leap pad two is second followed by v tech tab blet. larry, back to you. >> the president and first lady hosted u.s. olympic and paraolympic teams at the white house today, saluting athletes on the south lawn. mrs. obama watched many of them this summer, calling a fan in cheeft president told the athletes they cannot have been better. >> importantly there may be specially conducting yourself on a world stage. >> united states won 104 medals. they took place

>> there is trulia soaring on its debut today, stock price at $17 a share, climbing 41% to close at $24 a share, it's the latest ip 0 to do well right out of the gate. following in the stoot steps of kayak software, and contrast to face book down nearly 40%, pro vigd nfs on listings, home prices and more. and speaking of facebook, the company says it's offers service will no longer be free. the company looks for ways to generate more revenue. starting in next few weeks will cost $5 per offer. and launched this year, now retailers send deals to fans. and the declining hardware sales taking a toll on oracle, there are disappointing earnings today and sales are down by more than 2%. iphone 5 isn't in stores yet but samsung indicated ill will add to the latest lawsuit infringement against apple. this is a apple amendmenting a lawsuit to add galaxy smart phone to the case. walmart says it will stop selling kindel products. the company didn't give a reason but has been a big competitor to brick and mortar stores. the decision four months after target announced it would no longer sell kindels.

trulia shares were priced at $28. >>> the broader markets ended the day mixed.the dow was up 18 points but the nasdaq was down six. traders contemplated reports that suggest u.s. economic recovery continues to be slugish. >>> built to keep out bears but not mice. how yosemite officials are working to keep the hanta virus away from visitors. >>> and the best places to catch a spectacular view of the shuttle endeavour >>> new at 10:00, growing lines outside of a lot of apple stores as people anticipate the launch of the new iphone 5. maureen naylor is there, and has on the person who got there monday to get in line. >> reporter: those waiting have about nine hours to go. >> are you on verizon, at&t or sprint. >> reporter: only in the silican valley would you find a 10-year-old on a segway talking to people waiting in line to buy an iphone 5. >> i have an automobile that i crawled into in the middle of the night to try to get some rest. >> the original iphone launch, steve jobs was here. >> reporter: this sonoma student says now there are fewer geeks and more consu

trulia shares were priced at $28. >>> the broader markets ended the day mixed.the dow was up 18 points but the nasdaq was down six. traders contemplated reports that suggest u.s. economic recovery continues to be slugish. >>> built to keep out bears but not mice. how yosemite officials are working to keep the hanta virus away from visitors. >>> and the best places to catch a spectacular view of the shuttle endeavour tomorrow morning. >>> we are live right now in downtown palo alto where a lot of people are camped out to buy the new iphone. why some say waiting in line for the gadget this time is different. >>> new at 10:00, growing lines outside of a lot of apple stores as people anticipate the launch of the new iphone 5. maureen naylor is there, and has on the person who got there monday to get in line. >> reporter: those waiting have about nine hours to go. >> are you on verizon, at&t or sprint. >> reporter: only in the silican valley would you find a 10-year-old on a segway talking to people waiting in line to buy an iphone 5. >> i have an automobile that i c

. >>> online real estate company zillow is suing rival trulia for patent infringement. estimate feature how it determines the value of a property infringes on its z-best estimates patent. >>> isis has delayed its trial run. the joint venture between verizon and at&t and t-mobile was set to start trials this month in salt lake city, utah and austin, texas. isis one of several companies trying to roll out a broader system of mobile payments which would allow consumers to pay for goods and services by using their smartphones. that's the latest from the fox business network, giving you the power to prosper. ighten. hey, bro. or engaging. conversations help us learn and grow. at wells fargo, we believe you can never underestimate the power of a conversation. it's this exchange of ideas that helps you move ahead with confidence. so when the conversation turns to your financial goals... turn to us. if you need anything else, let me know. [ female announcer ] wells fargo. together we'll go far. has oats that can help lower cholesterol? and it tastes good? sure does! wow. it's t

the ipo san francisco market called trulia is heating things up. the shares jumped about 30% in their debut today on the new york stock exchange. the company's website and mobile apps allow consumers to research home listings and neighborhoods, even to list crime stats street by street. they said the stellar release today could encourage other local tech companies that this is a good time to go public. >> slowly but surely. the golden gate highway transportation district said it is chipping away at the budget deficit. that could buy drivers a little more time before a planned toll increase goes into effect on the iconic bridge. the district which overseas the bridge maintenance and operates the ferry service is now projecting a budget shortfall of $66 million over the next five years. that's about $20 million less than projected last year. the district said it may delay the $1 toll increase set for july 2013. as of now, it costs $6 to cross the bridge if you pay cash. >>> buyer beware. they're warning students that robbers are posing on campus as m

trulia lets people research home listings. >>> san francisco business times in this mornings edition says the school is considering several options that could add as much as 850,000 square feet of housing and offices. any development would have to go through a long approval process. >>> a plan to can sodas. where you can trade in your soda today and what you will get in exchange. >>> plus a focus of the hantavirus investigation could be turning away from visitors. who the health department may be focusing on next. >>> welcome back to the ktvu channel 2 morning news. some hope across europe about a bailout plan is helping stock markets around the world. dow jones up about 37 points. >>> time now 6:55. employees at yosemite national park may be tested for the hantavirus. health officials want to survey employees to see if they were infected by the virus. three park employees had flu like symptoms and they were tested. they are now sealing up doors and windows as a precaution. we already know nine people have been infected with the virus. three of them have died. >>> a san francisco hum

trulia had a pretty big day in its opening day ipo. stay tuned, earnings from oracle which could set the tone for tomorrow. maria's up now with hour number two. i'll see you tomorrow. >>> it is 4:00 on wall street, do you know where your money is? welcome back to "the closing bell." stocks mixed today on wall street, the dow trying to close higher for a third session in a row. doing so by about 20 points. the markets remain in a holding pattern until after the election. the oracle stock has been acting well. will it set the stone for tomorrow? take a look at how we finished the day on wall street, with the dow jones up about 20 points on the session. nasdaq and s&p 500 under water today by a fraction. nasdaq down about six points. and the s&p 500 down just a fraction. the market may be continuing a steady klein. risk on phase is only temporary. resolution of the fiscal cliff will be destabilizing for the equity markets. ben pace joins me right now. also joining the conversation is chase wealth management's anthony khan. and rick santel

in fact trulia just started trading and is trading well.real estate company, a real estate website. it's up 31% this morning. $5.30 to the positive to 22.30 after pricing at $17 a share. >>> last night's giants/rockies game was the first where you could use the new iphone pass book feature. by all accounts it worked just fine and the giants won. the mets, the red sox and the kansas city royals also accept apple pass book. jon. >> thank you very much. >>> well, speaking of passports, the nfl now ordering niners quarterback alex smith to stop wearing a san francisco giants hat. yes, smith started sporting that hat in postgame interviews this season. you can see it right there. that is until the nfl grabbed him and said you have to take it off, my man, or pay $15,000 in a fine. under contract, well, the nfl players can only wear nfl-sponsored paraphernalia 90 minutes before and 90 minutes after ball games. >>> we want to check the forecast right now with meteorologist rob mayeda. he's in for christina. how are we looking? >> looking pretty goo

the study conducted by real estate sight trulia found that it's cheaper to buy in all 100 of the largest u.s. metros, including the bay area. it's 28% in san francisco and 30% cheaper in san jose. renters say the numbers don't necessarily reflect the reality here, especially for people who can't afford a big down payment on a house. >> what happens is people who own these properties that you can rent, what they're doing is they know that the majority of people can't afford to put this money down so what they do is they hike up your rent because they know they've got you caught between a rock and a hard place. >> reporter: a study found that nationwide rents have gone up about 4.7%. live in san jose ann ruben. >>> time is now 8:33. some over drawn bank accounts has some pizza customers really bad because of delayed charges. turns out their debit and credit card charges at little caesars didn't go through at first. there was a glitch with the company. suddenly all of the charges made since january were approved. some regular pizza customers were angry when their hot and readies came up 9 m

so far, truly yaw, is trulia. doing well on a day we're pulling back but a true winner.back to you. tracy:. nicole, thank you very much. those sites are a good way to make yourself puke when you put your address in and see how fall the price has fallen. ashley: one final act from the house of representatives before leaving for recess seems to be the scaling back of the obama administration's energy regulations. rich edson on this story in d.c. rich? >> hey, ashley. tonight the house considers a proposal to significantly curb environmental regulations. supporters say the bill will help unleash businesses from government overregulation. the white house says the proposal threatens america's air and waterways. the republicans point to the epa, more than 10,000 rules on the book, more than 1800 on coal alone. about 370 proposed in the past three months. the house proposal prevents the administration from issuing new regulations that are harmful to coal mining jobs. the bill also prohibits the epa's regulation of greenhouse gases. house speaker john boehner says the bill addre

john's and the trulia plant near joseph city. the third plant, apache center, is just 100 miles away and serves a good portion of my constituents in the southern part of my district. these are bedrock to our local communities. they provide high-paying jobs where unemployment is already over 10%. over the august recess, the environmental protection agency held public hearings in phoenix, holbrooke and benson on their federal plans. each of their plans in rural arizona had over 300 people present. that is an incredible turnout in these relatively small towns. that is how important this issue is to my constituents. the e.p.a. refused to hold a hearing in st. johns despite being a community directly impacted by the regulations. so i hosted a meeting to facilitate this public comment. on a night where the local high school had their first football game, we still had over 100 people show up. listen, everybody wants clean air and good-paying jobs. the fact of the matter is the e.p.a. is acting well beyond its authority and under my stat