thanks, guys. >>> now to brian shactman. brian? >> data storage, fusion io. coming out saying emc might have to go out and take this company out. you see the bid up on the stock, about 6.3%. the stock trading at 27.99. they have a $31 price target. back to you. >> thank you. >>> we'll analyze the analyst. on the list today, abercrombie & fitch and sina corp. an upgrade and downgrade on both. we'll find out which of the analysts have it right. a few more big movers for a thursday in the summer. the markets keep moving.ou] make sure the news keeps coming with thinkorswim by td ameritrade. use the news links breaking stories with possible breakout stocks, options with potential opportunity, futures and forex with in-depth analysis. it's an all-you-can-eat buffet for all things trading. thinkorswim by td ameritrade. it doesn't just deliver news. it's making news. trade commission free for 60 days, plus get up to $600 when you open an account. ♪ you know, ronny... folks who save hundreds of dollars by switching to geico sure are happy. and how happy are they jim

brian shactman, our very own brian shactman is in the middle of the storm at port of new orleans. >> very wisely we've chosen a hat to protect the hair, brian. looks pretty rough there. >> reporter: i know, i know. it's much worse when we went to bed last night. my first hurricane. definitely feels like a hurricane now. reports of levee breach at plaquemine's parish. that's not in new orleans. in term of the oil and gas stuff i've been covering, 93% of the entire gulf is shut to oil production, including everything, even the texas coast -- wow. in terms of gas it's a little less. a lot of the gas rigs can get up and move out of harm's way with oil, platforms and so on. we won't know the damage out in the ocean. in terms of the global oil market, it's a major supplier for the u.s., a quarter of the u.s. production comes out of the gulf. when the storm is done, they'll assess the damage. it's a wait and see situation. if there's no damage, they have coast guard approval, safety checks and get personnel back there. it will be at least a week when the storm ends to get these back up and

our own brian shactman is live in new orleans. plus, scott walker of wisconsin made the trip to tampa and joins me here live next. i'm larry kudlow. please stay with us. i don't spend money on gasoline. i don't have to use gas. i am probably going to the gas station about once a month. drive around town all the time doing errands and never ever have to fill up gas in the city. i very rarely put gas in my chevy volt. last time i was at a gas station was about...i would say... two months ago. the last time i went to the gas station must have been about three months ago. i go to the gas station such a small amount that i forget how to put gas in my car. ♪ in communities across the country. whether it's supporting a delaware nonprofit that's providing training and employment opportunities, investing in the revitalization of a neighborhood in the bronx, or providing the financing to help a beloved san diego bakery expand, what's important to communities across the country is important to us. and we're proud to work with all of those

that's hard news. >> brian shactman, thanks for that. now that we know vegas is safe for adult freedom the question going forward, is it a good investment? let's call to the chart and get answers from the man known to tear up the strip himself, carter braxton from oppenheimer. we're kidding. >> all my clothes on here. three different chart, all same time frame. lvs, two-year chart. what's important is when this sold off, this is quite a selloff, 62, 40% decline down to 35 plus/minus, found this level for the fifth time. each time it's responded quite well. the same chart with a different way to draw the lines, same two-year chart. what's important is we've now broken above the down trend since this fairly important 45% decline of the last four, five months. finally, what's the objective? we're long here. the idea is that we have found support and they were going to throw back to the top of the range. we're looking at 48 to 50. that's about 18, 20% from here. time to get long lvs. >> time to get long. carter is bullish on this. mike, can

let's check in with brian shactman, also in new orleans. let's get a shot of you and see how you are. how are you doing? >> reporter: i'm all right. thank you very much. the mississippi river is right there. we're at the convention center so we're getting this right now. it's been like this for the last couple hours. in terms of what's going on out in the gulf, major oil installations were missed by the major part of the storm. no major reports of damage there. 93% of all oil production is shut down. in terps of a hurricane, if this is category 1, i can't even imagine. jim cantore is a monster for being out in this all the time. this is incredible. >> it's amazing. we're having trouble keeping lights on you. it's difficult but you're doing yoeman's work down there. i can't imagine if that's a category 1, what a 2 or 3 -- but so far we have our fingers crossed it's not nearly what katrina was. >> reporter: yeah, thankfully. absolutely. in terms of the tenor, i think everybody left in town didn't think it would be as bad as katrina. i'm going

>> brian shactman with a market flash. hi, brian. >> hi, sue. look at "the new york times" up about 6.5%. the reports are going to sell about.com. the key to sell for $270 million. i don't know. if you think about apple, not a big deal but the market cap, that cash infusion is a big day. back to you, ty. >> thank you very much. >>> shares of standard charter, that big british bank, number five over there, accused of doing business with iran, today you see it moving a little bit higher right now there. if that's the right quote on it. the ceo taking questions in a media call and asked about that now infamous statement attributed to one of the employeeing saying you blanking americans, who are you to tell us, the rest of the world, that we're not going to deal with the irani iranians. sands said we are still in the process of analyzing whether we recognize the facts, we are in the process of analyzing the interpretations of those facts. hmm. as for the u.s. investigation, that's a big political football with officials sniping back and forth. senio

back to you. >> thank you, brian shactman, braving the weather in new orleans. coming up next on "the kudlow report," governor nikki haley, marco rubio, condoleezza rice and, folks, don't forget. free market capitalism is always the best path to prosperity. we are all hoping to hear from paul ryan tonight on that very subject. i'm kudlow. stay with us. [ male announcer ] let's say you need to take care of legal matters. wouldn't it be nice if there was an easier, less-expensive option than using a traditional lawyer? well, legalzoom came up with a better way. we took the best of the old and combined it with modern technology. together you get quality services on your terms, with total customer support. legalzoom documents have been accepted in all 50 states, and they're backed by a 100% satisfaction guarantee. so go to legalzoom.com today and see for yourself. it's law that just makes sense. we create easy-to-use, powerful trading tools for all. look at these streaming charts! they're totally customizable and they let you visualize what might happen next. that's

. >>> now to another brian, brian shactman for a quick market flash. >> thank you. too often we ridicule the analyst community for telling us something after the fact. goldman sachs trying to get ahead of the curve on ralph lauren. up about 3% before wednesday's earnings. goldman sachs said you might want to get in. they point out they're not overexposed in china. take a look at last three months. the stock beat up. maybe there's some real value here after they had a huge run-up in 2011. back to you. >> thank you. >>> now the houses crisis and the mortgage market. diana olick is live in washington with more on that. hi, diana. >> reporter: hey, tyler. the private label mortgages, mortgages not backed by fannie, freddie or the fha passed a threshold. much is thanks to the government which claims just the opposite, it's trying to bring private investors back the mortgages. private mortgage investors held 2.2 trillion in mortgage debt at the peak in 2007 after the share of originations to 27% of the market. in 2006, fha barely 3%. after millions of loans defaulted and

[ male announcer ] ...forbusiness.com. [ yawning sound ] >>> brian shactman here. take a look at amazon hitting an all-time high. and look at the 20-year chart. that's 12,481%, folks. pretty unbelievable. simon, in 1996 in graduate school buying books, i should have bought stock but i had no money. >> hindsight is 20/20 on so many things. thank you very much. >>> prince harry is seen naked around the world. the uk to be lloyd "the sun" publishing the photos today in britain causing many other british media outlets to follow suit. here, the city of las vegas turning the prince's naked escapade in to an ad campaign. asking people to learn, live and protect the code of what happens in vegas stays in vegas. and to sign the oath. sin city also telling the prince to keep calm and carry on. that brings us to the power rundown. with me is bob pisani and john carney. >> heavy hitters for this one. >> i shutter to ask this of two gentlemen of your caliber but should everything, john, that happens in vegas stay in vegas? >> i'm glad we didn't use the word hindsight in this. i

a smarkt flash now with brian shactman. >> select medal. sem hospital operator. they preannounced in july and didn't announce the eps guidance and well above consensus. stock up 18.25%. for the week, 22.25. guys, brian, the founder and chairman, one of the best executive names out there, rocko a. ortensio. >> that is a great name. >> founded it with his son. >> that's my new tv name. from right now. >>> tough travels for the online tip site. >>> something rarely said in the same sentence with research in motion. today's rise in rim. but maybe it's for all the wrong reasons. stick around to find out. mamama at sleep number, individualizing your sleep is at the heart of every innovation. with the sleep number bed, it's not about soft or firm. it's about support where you find it most comfortable. the magic of this bed is that you're sleeping on something that conforms to your individual shape. wow! that feels really good. you can adjust it to whatever your needs are. take it up one notch. my sleep number is 50. i'm a 45. and now, for those interested in trying memo

they would make them pay 5% more. >> brian shactman, thank you. coming up on kudlow, is vice president joe biden getting the boot for his racially charged "chains" remark? that's what our special guest hears. ed klein, author of the best-selling book "the amateur." he's straight ahead. [ thunk ] sweet! [ male announcer ] the solid thunk of the door on the volkswagen jetta. thanks, mister! [ meow ] it's quality you can hear and feel. that's the power of german engineering. right now during the autobahn for all event get great deals on a 2012 jetta. get great deals so what i'm saying is, people like options. when you take geico, you can call them anytime you feel like saving money. it don't matter, day or night. use your computer, your smartphone, your tablet, whatever. the point is, you have options. oh, how convenient. hey. crab cakes, what are you looking at? geico. fifteen minutes could save you fifteen percent or more on car insurance. >>> welcome back to "the kudlow report." i'm larry kudlow. in this half hour, the white house strongly denies

first, we go to brian shactman for market flash or not? let's go to bertha then for metals close. a little confused there. bertha coombs is standing by. go ahead. >> it is confusing with the data we are seeing and seeing. look at the different pits here at the nymex. over in the oil pit, they're kind of seeing the glass half full. here in the gold pit, they're seeing the glass half-empty. essentially, the data has been good enough that it doesn't warrant mario or anybody else to take any kind of action immediate immediately, in terms of stimulus. that's what gold has been pricing in. that not withstanding, what's very interesting, the action we saw on gold this morning. it went down to $53.93 an ounce after better than expected retail sales numbers. $15.85 is a crucial support level. if we continued going through there, a lot of folks said the trade would be very bearish. we managed to close, although on the down side, above $1600. psychologically, that's kind of bullish to a number of traders. overall, they're saying this market has priced in some sort of stimulus from the ecb or

cnbc's brian shactman, great report. coming up, big trouble for obama. young voters who put him in office are disillusioned. hope and change didn't work out. they are now flocking to mitt romney and paul ryan. we're going to have the numbers and the young democrats of america go up against the college republican national committee. fancy that. we'll be right back. [ engine idling ] [ engine revs, tires squeal ] [ male announcer ] more power. more style. more technology. less doors. the 2012 c-coupe. join mercedes-benz usa on facebook for the best summer sweepstakes. begins with back pain and a choice. take advil, and maybe have to take up to four in a day. or take aleve, which can relieve pain all day with just two pills. good eye. to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha! ♪ by what's getting done. measure commitment the twenty billion dollars bp committed has helped f

thank you so much, brian. brian shactman in new orleans. isaac's storm surge also leaving its impact on mississippi where many were evacuated. joining us this morning senator roger wicker of that state. he's at the republican national convention in tampa but keeping a close eye on the situation in his home state. good to have you. >> good to be with you. >> what are you hearing back home? >> i think what brian said for new orleans is correct also. this storm isn't over. it's an ongoing event. and we'll see. right now what i'm hearing from people on the ground in the three gulf coast counties is we have a rain and flooding event. high tide is coming later on this morning. and we don't know the extent of the damage. but we certainly have dodged a katrina-type bullet. >> yeah. we had governor barbour on not long ago. might be about agriculture this time around. soybeans and cotton. made the point we were talking about a drought just a couple weeks ago. >> he made that point well. you know, actually mississippi farmers were by and large spared

cnbc's brian shactman is in new orleans also impacted. >> reporter: i need scott to wind up a little quicker. while he was talking, the wind picked up and it's obviously raining. the mississippi has been completely empty of barges and ships, just a lot of waves. not just oil that comes up, you get oil from north dakota and other shipments from missouri. not a drop today. that's the key here. oil, per se, not the key issue, the ability to refine it. 10% of all gas used in america is offline. >> we can't really console ourselves with the eagle for play in regards to how well off the u.s. is going to be. it's really the making of that crude oil into something useful for us. >> reporter: listen, guy, we're getting a little wet here. we will retrench to a different spot. i want to point out doesn't mean oil isn't important, a quarter of the country's oil comes from the gulf. only 55% of rigs have been evacuated but still accounts for 80% because there are still rigs open off the coast of texas. they just don't produce as the rigs in isaac's path. >> brian, time to put a jacket on, thank y

let's go to brian shactman who is watching the individual stock movers now. brian, what do you have? >> look at avon products. thank you vy much. up 4.5%. cody's last offer if you recall, when they tried to take it out was for 24.75 a share. lot of chatter avon may be a target. it is almost $10 below the last offer. it is ripe for the picking according on some. up 4.5% on the day. >> thanks so much, brian shactman. 15 minutes to go on this monday before the closing bell rings. we are looking at a gain that's losing a little bit of steam. 50 points for dow. >> giving up some of the momentum. american libyans like gabby douglas, racking up medals in london. they are also racking up a big tax bill from uncle sam. can that be fixed? >> fiscal cliff may not be resolved but that's not stopping congress from vaca. five-week one. usually when congress does nothing that helps the economy but not this time. we want to know whether you think lawmakers should be leaving town for over a month with the fiscal cliff unresolved. sometimes investing opportunities are hard to

brian shactman joins us from louisiana. you have the sun coming up, easy to see what happened from isaac there. could you tell us more about it? >> reporter: yeah, today will be a day of assessment, becky. the storm is about 120 miles north of where i am in noroco, louisiana, it's far away from us and our weather deteriorated in the last few minutes. in terms of refineries i have a shell refinery operating at reduced rates. there's four of those that are doing that, five are completely shut, on and off-shore, i'm told there are no major reports of damage, so today weather permitting will be a day of assessment and we'll get a sense of whether there will be three days for startup times for some operations or ten days plus, depend on flooding, damage and power. plaquemines damage the biggest story, active all day wrong with rescues, a levee overtopped, tremendous amount of flooding. scott cohn will have reports from that location, in terms of new orleans they largely avoided major problems, water outages and downed trees were

brian shactman, authority about vegas and adult freedom has the story. >> thank you so much. you call it the code, what happens in vegas stays in vegas, it was an epic marketing campaign. everyone follows prince harry's poor game of pool. how else do you get naked in naked pool unless you suck at it? it's also made vegas opportunity istic. whoever took the photo clearly broke that code. at least 90,000 people have clicked so far. it's like a month's worth of people that go to excess. like one of the clubs he visited. the stock market. a basket of four casino stocks didn't fare well today. all down double digits. that's hard news, melissa. back to you. >> thanks for that. now that we know that vegas is still safe for adult freedom, let's look if it's still a good investme investment. let's meet with carter braxton worth. >> all my clothes on here. three different charts, all the same time frame. two year chart. it's important when this sold off and this is quite a sell off. 62 -- talk about a 40% decline. he has found this for the fifth time and each time it has responded quit

geico, see how much you could save. >>> brian shactman here. locking at stj, st. jude medical dropping and i went to get the headlines right. fda orders fresh review of the troubled defibrillator leads and more data on the newer leads and the last one, patients with st. jude leads should get e rays. take a look at the move in the stock. down 4.3%. brian? >> thank you. >>> this headline got all of us talking today. an institute report says 26 companies paid their ceos more last year or will this year more than the federal government in taxes. we reached out to the companies saying it's not correct. here's a statement of abbott labs, for example. quote, this is a blatant misrepresentation of the facts. abbott paid the u.s. government $700 million in federal income taxes in 2007. it represents a non-cash accounting adjustment as a result of the resolution of various tax matters. citigroup, boeing, at&t among others echoed that sentiment to us. institute studies getting attention but the companies say it's not true like abbott and tweaked the accounting rules and made

. >> brian shactman has details on the market flash. >> disney leading much of the turnaround in the dow. about a 3% swing from its lows. right now it is the third best in the dow. and now year-to-date is the second best creeping up on bank of america. of course a little bit of concern after the bell yesterday on lighter revenues. reading through the report, people like what's going on at espn, and at the theme parks. >> trade on disney? >> trade on disney which is a trade i tend to be long now is in service to a 52-week high the reversal today that's a very powerful signal for a stock technically, and you're seeing it witnessed on the back of strong fundamentals. there's no reason for a portfolio manager that has significant exposure to disney right now to jump off of that trade. >> good earnings, theme parks doing well. pricing power. >> all good in the mouse house. >> on the way, maybe it's time to get more social. the arguments for and against social media stocks and later man versus machine. what can be done to level the wall street playing field? we'll have some answers. lookin

our brian shactman at the port of new orleans. he joins us right now with a look at the storm's impact on the oil industry. brian, good morning, again. >> reporter: good morning, becky. thank you. might be closer to 90% now. at least 1 million barrels a day. i keep getting back to what i mentioned in the last hour. the landscape changed so much. north dakota doubled, tripling the production in the last couple of years but even with the area, this area is hugely important and the storm's path directly over a lot of operations, both in the drilling and the refining space. almost all of the production is currently shut and last night the state came out and said the whole industry has to shut down. 344 operators and 31 different parishes and what does it mean to shut something in? in this industry, some of the things the state says to do, remove all of the product and fill the tanks with water. plug the wells and they have to notify the state when this is all completed. we spoke to a parish president saying people and equipment out of

brian shactman is live from an undisclosed location within denver. >> that's right. listen, we might be making cnbc history or even cable history. i am inside a warehouse growing pot. i will tell you why i am here and how it might have implications for the white house when "squawk on the street" comes right back. continuing to lend and investe in communities across the country. whether it's supporting a delaware nonprofit that's providing training and employment opportunities, investing in the revitalization of a neighborhood in the bronx, or providing the financing to help a beloved san diego bakery expand, what's important to communities across the country is important to us. and we're proud to work with all of those who are creating a stronger future for everyone. >>> for colorado legalizing minor is one of the most important issues. it could have implications for the presidential election as well. brian shactman is live in the mile high city, we don't know where, with a lot more. good morning, brian. >> wouldn't you know it, he does a live shot from a pot farm an

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. >>> a market flash now from brian shactman. brian? >>> dndn. with chatter of possible takeover, stock heavily shorted, the shorts run for cover. 27% of the float is short. and that's the thing going on here rmt it's up about 6%. mandy? >> it is. >>> next, how the drought is having a not so sweet impact on one of the sweetest drinks in the market. >>> one investor betting the farm on farms. is he worried? >>> and there's a danger of a fiscal cliff. we talk about it every single day and then there's this. the story behind the violent crash. you can call them anytime you feel like saving money. it don't matter, day or night. use your computer, your smartphone, your tablet, whatever. the point is, you have options. oh, how convenient. hey. crab cakes, what are you looking at? geico. fifteen minutes could save you fifteen percent or more on car insurance. tdd#: 1-800-345-2550 when the spx crossed above its 50 day moving average, tdd#: 1-800-345-2550 i saw the trend. tdd#: 1-800-345-2550 it looked really strong. tdd#: 1-800-345-2550 and i jumped righ

brian shactman joins us now live from the mile high city of denver colorado, brian. >> a lot of good pot humor today. this little baby will grow into this full grown adult, and there is a adult conversation to be that here. a lot of people think pot politics could have an impact on the race to the white house. >> the total comes to $217. >> this is a marijuana purchase in denver. >> can i just get like a gram. >> if amendment 64 passes in november, legalizing marijuana and regulating it like alcohol, it could be worth least $60 million more in taxes. with a pro-pot win she says she'll be back in business. >> i know that amendment 64 has passed and i'm fights for that. >> the medicinal marijuana program is example a. >> if the in additiontive passes here or in oregon or washington state, there's still one problem, pat remaining illegal under federal law. >> it's not going to be helped by legalizing in on a state level. this really needs to be addressed on a federal level. >> speaking of federal. the pot vote could go to gary johnson. and aafrom president obama who carried colorado in

first, brian shactman. >> pretty big name at the opening bell. look at rirch in motion. turns out franklin mutual advis advisors is the fifth largest stakeholder. you see the stuff gets disclosed a pop in the stock. not the case today, down 5 1/2%. price action continually defies logic? 7.64, it's sad. thanks. >>> when it comes to buying a car, fewer people are kicking the tires. more than 1 in 10 new car shoppers are buying without taking a test drive. instead, they're focusing on online research. the trend could be trouble for dealers who says the test drive seals the deal for a shopper kind of on the fence. >>> toyota proves you can teach an old dog new tricks and redesigned the camry to attract new buyers and were surprised how well it worked. camries were up 40%. the old camry was a baby boomer's favorite. now, the presentation at the jpmorgan analyst conference, the senior vice president say thes new version has knocked 10 years off the age of the average buyer. >>> safety is another factor that can sway car buyers. now, tests of popular luxury brands and collision

brian shactman has details on several big banks today. >> yes, a source close to cnbc says that eric schniderman subpoenaed several banks in the libor investigation that include jpmorgan, and ubs. jpmorgan issued flat, barclays was slightly down, and ubs is unchanged. both of the charts were in negative territory when the news broke. >>> new details are emerging about the secretive countrywide program that gave mens of congress discould wants on their mortgage rates that no one else could get. we're looking at the democrat chairman of the committee at a time that launched the information of the program was a he tried to keep that a secret. the reason is the i have katherine with me saying this is exactly why letting congress investigate itself doesn't work when it comes to rooting out corruption. thank you for coming on the program. >> thanks for having me. >> how can anyone trust the investigations with stories like this. >> this is a perfect example of congressman start to think they're above the law. we're talking about a 15-term congressman, set to retire, and he started to feel

brian shactman is watching shares of cisco. >> brian actually not here yet. >> jackie. my bad. >> you guys were talking about the strengthen in tech watching shares of cisco up 8.3% today. the bellwether posting quarterly results that edged past estimates boosting its dividend by 75%. in addition at least nine brokerages are raising price targets on the stock and even though cisco warned about weakness stock still strong today. >> jackie, brian, story about that. stephanie, what do you do here? this is a sizable dividend increase, startling in many ways from cisco upping its 75%. >> that's the reason that the stock is up. you have value investors, income investors saying 3% dividend yield is attractive. quarter was okay. basically in line. it's basically what we were expecting. guide jan was a little slow. there were pockets of strained pockets of weakness but on the whole i wouldn't chase the stock up this much today. but you have a floor because you now have new interested investors. >> rough day for walmart. stock falling on a weak full year profit forecast and comes

brian shactman is following it. >> yes, a few key things to keep in mind here, people concept able about groupon, and slowing down about a year and a half ago. they had 97% growth and now they're down to about 2%. it's just fascinating to think that google wanted to take groupon out for about $6 billion. so 2006 and a half percent on tremendous volume. back to you. >> we were looking at that yesterday in our talking numbers segment, and that -- the prediction was that it would be going sharply lower. that is getting higher ahead of the retailers earnings and it will be out before the bell tomorrow. should investors buy into this high flier or is it high time to take some profits. we're talking numbers today. it's rich ross, and on the fundamentals side is joe feldman, and joe, what do you expect to see form morning. >> we're looking for an eps of $1.03. >> rich? >> it's a great looking toward, a great looking company. let's take a look at the kpart and i will break it down for you. i brought with me a weekly chart of target to highlight how significant thections are in this stoc the defi

brian shactman. >> monster beverage got in a little trouble as well when it comes to slowing revenue growth for a high flier. down 22.5% in the last month. getting back today. up 5%. doubling down stock buyback from $250 million worth to $500 million. back to you. >> thanks, brian. >>> when we come back, it's the drought that just won't end. up next, we're going to take you live to iowa inside dupont's pioneer seed lab. back in a couple minutes. [ male announcer ] when this hotel added aflac to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha! take the privileged investing tools of wall street and make them simple, intuitive, and available to all. distill all that data. make information instinctual, visual. introducing trade architect, td ameritrade's empowering web-based trading platform. take control of your portfolio today. trade commission-free for 60 days, and we'll throw in up to $600 when you open an acc

. >> let's get an update from brian shactman. >> thank you very much. i'm knee-deep in my charts here. makers of calvin klein jeans, looking decent in your call vince, numbers weren't great but expectations lowered. things not as bad as some analysts hoped for. the stock up 10.5%. making up for loss of .9% and made up for weakness in the last month. >> brian, that was sharp, real sharp. thank you soy much. we will take a very quick break on "street signs." like, if you could save hundreds on car insurance by making one simple call, why wouldn't you make that call? see, the only thing i can think of is that you can't get any... bars. ah, that's better. it's a beautiful view. i wonder if i can see mt. rushmore from here. geico. fifteen minutes could save you fifteen percent or more on car insurance. this is new york state. we built the first railway, the first trade route to the west, the greatest empires. then, some said, we lost our edge. well today, there's a new new york state. one that's working to attract businesses and create jobs. a place where in

let's get to brian shactman now. what are you seeing there? >> we're not too far from where scott mentioned the national guard troops. the troops and the wind are the only noises you will hear in new orleans today. all is quiet. out on the ocean, everything in isaac's path has been evacuated. 80% of oil and gas production in the gulf is shut in right now. we reached out to a slew of companies today including exxonmobil, bp, phillip 66, murphy petroleum, all pretty much on lockdown right now. we haven't had much information since yesterday. you can't blame them. everyone is waiting to see what happens. not much they can do until now. only one company that is not waiting, marathon petroleum, they have a refinery outside new orleans that can handle a half a million barrels a day. they looked at the charts and decided they will remain in operati operation although at a reduced rate. they wouldn't say what that is but it operates 24 hours a day. they will stay in motionality marath marathon. it might not be until the thick of the storm hits new orl

brian shactman at the market. shares of boeing up more than 2% today. they had a great year in terms of orders. they're taking advantage by raising list prices by 5.5%. as we reported on this for years, that's not actually what companies pay for those jets but we never get those numbers. >> thank you. that is right. decent market day despite the fact crude is up 2.5%. dow up 93 points. an s&p above the 1400 mark, up about 11.5 points, nasdaq up 35 points, one of the percentage winners on the gain. ty, over to you. not too many winners after the bell but one later in the week. >> i'm not huge on putting big bets on companies before earnings because it smacks of gambling. occasionally, it looks attractive. and kind of broken out of a

our brian shactman is live in colorado with the interesting story. hey, brian. >> reporter: hi, mandy. if you're federally insured and aiding these companies could be a felony and why take the risk? some have gone risk only is in 2012 no way to do business. >> what can i do? >> reporter: in colorado, medical marijuana is legal but according to the federal government it's not. >> sold. >> reporter: the nuance created a nightmare of licensed shops and dispensaries. >> impossible to be able to service the 700 or so dispensaries in colorado. >> reporter: wanda james owns simply pure and recently shut down because wells fargo pulled her bank account. >> it is impossible for entrepreneurs or business people to run an effective, real business without the ability of a bank. >> reporter: wells fargo tells cnbc in view of the complex, inconsistent legal environment relating to marijuana dispensaries wells fargo has opted not to bank these businesses. while legal in some states they're still illegal under federal law. a congressman is hoping to change this thro

brian shactman is live in denver with the details of how pot politics go well beyond colorado. hi, brian. >> reporter: hi, sue. first some details on this stuff. right? five-month process, this becomes this. worth about $2,500. i learned this all today. it's not just about money and marijuana but jobs and taxes and there's a lot of people out there that think politics could have an influence on the race for the white house here in colorado. this looks like any retail transaction. >> $217. >> reporter: it is not. it's a marijuana purchase at denver relief, a legal medicinal dispensary in colorado. if the amendment passes legalizing marijuana and regulating it like alcohol it could be worth at least $60 million more in taxes. >> we had five full-time chefs. >> reporter: wanda james stopped selling the pot-infused products because of regulations but with a win she says she would be back in business. >> the minute i know that amendment 64 passed and fighting for that, we'll bring it back. >> reporter: attorney general john suters is against the amendment pointing to the state's med

brian shactman is live in the port of new orleans. >> it's nighttime in new orleans, but behind me, the mississippi river, which is just a rush of wind and water. it's a good thing nobody's out there. the river shut down. the port is shut down. out in the gulf. 93% of all oil production. 67% of all gas is shut in and when it comes to these companies, there are two main pieces of equipment. the platforms, which don't move, and their rigs, which do move. in terms of the platforms, 593 of 596 are completely evacuated. they can literally get out and move out of the storm's path. the next big issue is when can they get up and running? if there's no damage, they need clearance from the coast guard as well as all security and safety checks and they need to get people back in position. some companies might have a week. a lot might take a lot longer than that. >> thank you very much, brian. now, back to tampa and the republican convention. the gop has to juggle the schedule today due to the hurricane, but they held role call. delegates also holding a moment of silence today to remember the peopl

. >>> we have another market flash with brian shactman. >> yes, the parenter has been for a decent eps, but marvcvalm missed. you also want to point out they had margin compression as well for tech, that is not very good, 7.5% to the downside, back to you maria. >> a big story today, facebook stock hitting a new low tonight. some investors restriction tr selling has started to expire. more selling may very welcome. should investors avoid the took or buy on the dip. nicholas karlson says the expiration helps facebook, and paul meeks expects more. you say it's helping the stock because it removes uncertainty? >> that's right, it's a great time if you buy the story to buy the company. you know, it came out of $38, it's $19 now, and it's half off. there's a lot going on here. the company just sponsored new product stories. it's, you know in a matter of weeks, they went from being nowhere on mobile to the second most, you know, powerful mobile advertising company on the planet. >> let me ask you the obvious question then, how come the people that know this company the best are selling? why

. >>> brian shactman here at the markets desk looking at the spike in oshkosh corp. carl icahn that owns 9.5% of the company wants to spin off the jlg business a. lot of axis company. he thinks the value is clearly not being realized and they should spin it off as a tax free spinoff and investors like it. look at the spike. back to you. >> thank you very much. >>> as the graphic says, time for the disaster du jour of the day. that's redundant. i know. another failing grade for a for-profit education stock. >> this is really another horrible quarter for education management which is best known i suspect for its art schools and art institutes. i have written a lot about this company and 2010. the results were really ugly. there was a loss of $1.2 billion. lot of that tied to a goodwill impairment at the art institutes and the company says the former tailwind of employment is a headwind. lost in all of this, this was a goldman sachs private equity deal and goldman led the ipo in 2009. it is now education management's biggest investor, 43% stake. >> lost a huge amount in

brian shactman on sides as we get ready for manu to be a public company. >> that remains to be seen. historically not great investments. it had double digit returns. it's the pause for high flying tech and social media names. the hope is that the results are different this time. pricing after the close on 16.7 million shares. between 16 and 20. the high end to raise $333 million. giving the franchise a value of $3 billion. morningstar says trade value of $10 a share. morning more known globally than the yankees or cowboys. downside risk is with the family loading about $680 million in debt. half proceeds to pay that down and then in to the owner's pockets. also, remember that the family retains full control. now, beyond the novelty of a piece of the club, there are positives. first, they're profitable. management claims the early stages of monetizing the fans across the world. third, they have major brand power with sponsorship deal of gm and the deal with nike up in three years. could be a blockbuster to re-up on this one. potential investors said it's priced too high, they don't li

brian shactman was reporting. i saw some in st. bernard parish east of new orleans. they all seem to be intact but as you said half of louisiana is without power. that causes problems for the refineries and as we go back here real quickly and take a look at a helicopter going on, we'll watch this unfold as they try to continue to recover from tropical storm isaac. back to you. >> thank you very much. watching the national guard land there. scott, thank you. >>> well, when we return, what sony's new ceo told cnbc about the plans to turn around the struggling company. >>> we get a top analyst to weigh in on the costco stock. [ male announcer ] eligible for medicare? that's a good thing, but it doesn't cover everything. only about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they help save you up to thousands in out-of-pocket costs. call today to request a free decision guide. with these types of plans, yo

brian shactman is tracking that part of the story and joins us now. hi, brian. >> reporter: hi, sue. you know, today is really a day of assessment and we have learned a lot in last two hours. what we know, according to the cme, the henry hudson terminal handling nymex gas contracts is operating. also, the louisiana offshore oil port and produces and handles 13% of u.s. oil imports, backup power to take deliveries and when they take them remains to be seen and phillips 66 refinery and also hit hardest by the storm and reported they lost power and they have been flooded. we don't know the extent of the damage but we know that they're dealing with that. on or offshore, that's the biggest issue right now as it pertains to offshore, we'll learn more later today and then tomorrow because getting out there and assessing is a bit of an issue. you see that flare behind me? this is the norco fachlt run by shell. it is operating at a reduced rate. it's actually the opposite of a good sign. they flare off more burning off gas for safety purposes. they're one of t

cnbc's brian shactman is at the breaking news desk. what can you tell snus. >> -- us? >> this is a huge story. samsung versus apple. counter suits for patent infringements. there were 33 jury questions. found samsung violated some apple patents. awarded apple more than a billion dollars. apple asked for two and a half billion. still a lot of money. the stock is up a little more than 1% now. we have jon fortt in there listening to the 33 questions. when he comes out he'll have more details. back to you. >> thank you very much, brian. we'll wait for jon fortt. >>> coming up, ben bernanke says the fed has more stimulus tools ready and stocks soar triple digits despite terrible capital goods report. doug cote of ing could not be more bullish. later in the show, president obama's secret second term agenda. we're going to outline the president's uh true intentions if he's voted back into the white house. hint, higher taxes and more spending. don't forget, free market capitalism is the best path to prosperity. this is going to be a choice election. and a quick programming not

let's go over to brian shactman watching the big movers today. hedge fund managers making some moves, brian. we're learning about them today. >> back to guy. too tired to talk today. so -- he's just looking there pretty. listen, let's talk about tiger management. i want to highlight something quickly as we take a look at some social media investments and divestments. they bought 2 million shares of facebook. and linkedin which has done better than facebook in a similar space by ten fold from 300,000 shares to $3.3 million. but yelp which has also done well, profit-taking there, interesting moves to look at. back to you, scott. >> thanks so much. you want to comment on some of these moves we're learning about today? tiger believes in facebook. >> they better believe, long and hard. we've talked about that for a while. i just don't see any reason to go pouring into facebook now. you've got to give them two quarters where they can prove themselves and they haven't done anything positive since the ipo. so, again, i'll say it, we've said it for the la

brian shactman is in new orleans. and sharon epperson is at the nymex with the impact the storm is having on oil prices. brian, let's begin with you. when's the latest where you are? >> reporter: well, simon, where i am, we have settled in to a consistent and constant rain here in new orleans where a majority of the people reman without power. in all, louisiana has about 500,000 plus outages but this sort of not necessarily a lull but a chance to reassess of what's going on, turns to oil and gas situation. there are reports offshore, no major damage to rigs and platforms and the department of energy just released its latest count in terms of refinery shut-ins. five shut in worth about a billion barrels a day in terms of capacity. there are several others, four of them, that have reduced rates and don't know exactly they are. phillips 66, we learned a little bit ago, they told cnbc that they do not have power at their plaquemines parish facility and the focus of everyone's attention now in terms of damage. we know they

brian shactman here with a look at a stock we talk a lot about here. navistar. up about 7%. the issue is can they pay a fine to sell engines that don't meet emissions standards. the u.s. epa on saturday filed the final ruling on the mechanism to allow them to pay fines to sell the engines. stock is up, but mandy, we don't know the ruling. the investors going in here thinking it will be a favorable one but we don't know. >> we don't know. we brought herb over to the studio. >> it's so much bigger than that. there's much bigger issues beneath the surface. i'm not here with the ruling. no matter what happens with the ruling, there's more going on. because remember, the company's trying to morph over to a new engine. people are trying to figure it out. getting the ruling we'll definitely -- >> of course, we'll break it here on cnbc. that's what we do. back to "street talk." talk about cognizant tech and soaring after mega earnings. >> that stock up 12% here, in fact. first quarter earnings. ding pretty well. posted a 21% jump. i should say fiscal second quarter profit. sales jum

market alert desk with brian shactman for more details there. >> goldman sachs upgrading the semiconductor sector to attractive from neutral and the basic premise is supply and inventories are at healthy levels. the weakness in the stocks are priced in. valuations now are reasonable. these are the four top picks. we have lsi and freescale upgraded to buy and alter ra and nxpi are their top picks. but they don't like everyone in this space. take a look at the names they are not as high on. tried and true ones being intel, and you have amd as well. and atml. three names up today but not at the top of their list. >> steve weiss i don't see any mention of qualcomm there. >> they'd like to actually, different analyst policy. qualcomm's been doing exceptionally well in the apple updraft. you take a look at the others and the announcements have come out and everybody's cut back in capacity. these are ultimately commodity companies. when capacity gets cut back and inventories are low they go higher. >> lsi is actually pretty interesting. that's the two names that sort of stick out to me, lsi and t

let's get to brian shactman. oar to you. >> first we will start with something in the wireless. lost more than expected. revenue was light. and they lost a net of 289,000 customers in the quarter. stock is down 12% but off the lows. other one is chesapeake. earnings were slight miss. revenue strong and production was up. we know the company has been all over the map. they are up 2.25% in after hours. back to you. >> we will leave it there. thank you. we have 30 seconds on the clock now. our next guest will tell us what they think will move the markets tomorrow morning. steven rosen and jason pride. good to see you all. thank you for joining us. each have 30 seconds on the clock to tell us where to focus tomorrow. let's kick it off with you, peter. clock is ticking. what do you watch tomorrow? >> i would say you want to watch the australian reserve bank if they leave rates unchanged overnight, it means we are not seeing any additional weakness in the asian economies. fear over that last week with the korean export data. again if they hold those rates solid that should keep the as

market flash with brian shactman. what name are you watching today? >> eye on scott is nike. you all know lance armstrong the u.s. anti-drug -- u.s. ada came out and said they're going to ban him from cycling for life, try to get a seven tour de france titles taken away. nike said we're standing behind lance armstrong even though he's dropping his appeals of usada. the stock up 1.75%. they don't have endorsement relationship with lance armstrong who retired from cycling in 2005 but they have helped him since 2004 raise for live strong. it is a significant show of support. no commercials in the works per se but it is substantial in terms of his brand. back to you. >> thanks so much. i'll get a quick comment from you. nike stood by tiger woods during his issues. standing by lance armstrong. >> right. i think that's just who phil knight is. this is a guy who will stand by his folks and i think that it's really admirable and something this isn't a huge piece as shack mentioned of the whole nike franchise but they do stand by their players and the people that they endorse. >> ubs

let's get an update from cnbc's brian shactman who joins us live now from norco, louisiana. where are you in relation to the storm? >> reporter: i am about 130 miles south of it. and i'm dry right now, which is a feeling i haven't had in about 36 hours or so. but i do want to tell you and everybody that we talk about the energy sector. we just lump gas and nat gas and oil together. this is a gas story. yesterday was the biggest one-day spike in oil and gas in 15 months. they want to get refineries up and running. the shell one in norco behind me is running at a reduced ri erate three others in the region. five shut down completely. yesterday in terms of what happened only phillips 66 reported losing power in plaquemines parish. the hardest hit of the parishes. other than that no major damage. today is really a day of assessment. just to remind people who's at stake in the refining business, around 1 billion barrels a day of refining capacity. about 5.5% of what we can handle in the entire united states is offline at the moment. it would take anywhere from three to ten days t