hewlett-packard had the superior printing business. it had a consulting business but made its bread and butter in the corporate pc market and consumer pc market. they spread it through the enterprise. hpq went the other way from ibm, doubled down when it merged with compaq. dell was the cheapest and best. michael dell sampled them cheaper and became the dominant consumer brand and the chief rival of hewlett-packard and the enterprise. both dell and hewlett-packard tried to branch out to higher value products. hewlett-packard bought a consulting company to compete with ibm and accenture. they provided more value on big contract wins. well, hewlett-packard took a big write-down on its consulting business and dell isn't getting the big wins. neither was able to break away from the core hardware business. hewlett-packard made the decision to overpay for autonomy shelling out $10 billion for a software company. i don't know what it was worth but not $10 billion. we had a horse race over the pc champion. apple came with game changing technol

hewlett-packard had the superior printing business. it had a consulting business but made its bread and butter in the corporate pc market and consumer pc market. they spread it through the enterprise. hpq went the other way from ibm, doubled down when it merged with compaq. dell was the cheapest and best. michael dell sampled them cheaper and became the dominant consumer brand and the chief rival of hewlett-packard and the enterprise. both dell and hewlett-packard tried to branch out to higher value products. hewlett-packard bought a consulti company to compete with ibm and accenture. they provided more value on big contract wins. well, hewlett-packard took a big write-down on its consulting business and dell isn't getting the big wins. neither was able to break away from the core hardware business. hewlett-packard made the decision to overpay for autonomy shelling out $10 billion for a software company. i don't know what it was worth but not $10 billion. we had a horse race over the pc champion. apple came with game changing technolog

they now rest in peace at hewlett-packard. stick with cramer. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated support teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information you want when you need it. it's another reason more investors are saying... [i'm with scottrad. as much advanced technology as the world around it. with the available lexus enform app suite, you can use opentable to make restaurant reservations. during the golden opportunity sales event, get great values on some of our newest models. this is the pursuit of perfection. >>> the "mad money" family got bigger this week. welcome to bryli, an angel. and congratulations to kyle and gillian. sprint has come down a little. no mission accomplished sign yet. salesforce.com. if you want to own the stock, do it deep in the

>> to von's and hewlett-packard phone? anybody? who owns a hewlett-packard tablets? anybody? liz: those are the waves of the future. >> then missed the boat. then made a lot of distracted acquisitions. they met some divestitures. a company that is board, has been a little bit confused on what their mission is. they still have to figure that out and have not done it yet. david: at least expectations are low enough so that it is trading a little higher after hours even though it missed on revenue. let's go to your pick because, talk about beating stocks, you're going into financials, specific financials. >> morgan, goldman, of course, even with their trading losses they suffered in the second quarter, more money in the second quarter than all but four companies in america. the world trade did not kill them. this company has 50 billion -- $40 billion in free cash flow over the last 12 months, three and a half% dividend, eight times earnings. it will resume a purchase program in the fourth quarter of this year. selling about a dollar had a tangible book value. fifteenth percent o

hewlett-packard opens lower by 7%. >> i think when hewlett-packard had another -- they had a previous bout of tough times. people came in and herd turned it around. herd is now ott orach -- at ora big opponent. >> as carl mentioned, we did see a noted short seller, jim chanos who i think nailed this. he does fabulous work. i hate to go against chanos. >> market cap of 38 billion, 10 billion in cash. isn't there a cheap enough price here, jim, where you're counting on growth even if it's two or three years down the road. >> balance sheet did get better. when revenues fall off, a lot of terrible things happen, whether it be in retail or tech. you can't see declines in revenues and expect to be able to maintain that cash position for too long. >> we're watching shares of kayak. kayak reported last night. it had a monster run going into these earnings. yesterday alone it was up 11% going into the earnings. analysts this morning, largely positive on the stock still because they didn't see the same weakness in europe as their partners did, priceline and orbitz worldwide. i interviewed the c

. >> and then you wonder with hewlett-packard. remember we had that headline hewlett-packard raising estimates for the current quarter. there are some analysts on the street even today saying hugh hewlett will probably miss the revenue side action even though they just came out saying what the revenues would be. and remember, they didn't raise full year and that raised some questions that day when they didn't raise full year as much as they raised the current. >> they're really talking about earnings, 9 billion, $8 billion charge the beginning of august. i think the revenues are very much in doubt. i refer to the tech data conference call where they talk about a plummeting business in hewlett-packard. look, hewlett-packard, it's going to be disappointing. is it going to be surprisingly disappointing or unsurprisingly disappointing? i want to stay away from hewlett and dell because of apple. even as i recognize apple on a trading basis -- >> so this isn't even a value base to be made for hewlett-packard. you had a lot of value inve

hewlett-packard is the biggest loser on the dow. we will have those numbers. same time yesterday after the bell, dell came after their numbers. the stock is falling. it was nothing too exciting. a little upsetting for investors of dell. we are going to tell you exactly what to watch for from hewlett-packard coming up. we have some big winners also. luxury homebuilders hitting a five year high today. that is helping the rest of the entire sector get a boost. they are not just getting a nice boost, they are stock leaders. let's get to the market. we have the dow and nasdaq and s&p looking a little bit better. why? >> i think it is they were going to do something. traders were already looking towards september. it really is the dog days of summer. people are on vacation. it was a very quiet day. when you consider that is probably what has been holding this market up in the face of some very dismal headlines, and other reason to get in there and buy some stock 11 things are extraordinarily quiet on that new york stock exchange. what about where you are? >> the sto

it is the biggest loss at hewlett-packard 73 year history. the company says it lost almost $9 million in the latest quarter. because of a failed acquisition of a technology consulting service of electronic data systems. it was $4.49 per share. and payout is extending its or expanding its push into stores. the on-line payment company struck a deal to accept the discover card's to process a pal. the use cards and leader of mobile devices. the partnership with discover will expand the services to 70 million stores. >>> a recall of can be made here in the bay area. detested the black licorice twists and as i levels of lead. >>> these are children and their tickly vulnerable to lead. they're not adults. they're different in their brains are

investors are now ready for hewlett packards earnings. we have coverage of the results and analysis on the numbers. the numbers look like this, the dow jones industrial average down about 31 points too. the nasdaq and the s&p did turn higher by the close. and the s&p 500 went from negative to positive on the fed minutes, up a fraction. the latest tea leaves hinting at another round of bond buying. will this help or could it hurt the markets? how do you position yourself ahead of all of that? we bring in right now danny hughs, and rick santelli, danny, what was your take on the minutes and your take on the idea that we may get qe 3 in september. >> the fed said it's on the table which the market liked. it's not sustainable in our opinion. we think this will probably fall off a little bit. qe 3 indicates there's going to be more free money. with the overriding market and what's going on in the macro picture, and this crazy in your face low volume that we have seen in june, we will see some fall off when the troublemakers come back from vaca

look at hewlett-packard, the pe ratio here also seven, but let me branch this out. hpg at a seven-year low as we speak. obviously, it's up a few percent today, but it's been on a solid decline, it's expected to announce a $9 billion record loss, and that is with a one-time charge in there. otherwise it's expected to report earnings of .98 cents a sharaf the bell on wednesday. and here's the irony, hewlett-packard over the past year has been the worst performer in the dow, and look at this. [laughter] best performer today. liz: yeah. it's been a tough go for that company. >> reporter: everybody's trying to pick the bottom in these tech stocks, especially these pc-related stocks. liz: still a company that started in a tiny little shed, and look what it is today. thank you very much. >>> closing bell ringing in about six and a half minutes, not quite there to the upside for the dow jones industrials, nine more points. we'll see what happens, but follow me on twitter @liz claman. when we come back, i'm going to show you one sector taking off without any delay today. ♪

. >>> hewlett-packard tried to do it last year and they failed. now a leaked memo indicates they will try again. what he happen he happen -- what hewlett-packard is working on. and who got to pick out special supplies just in time for school. >>> autopsy results found that rodney king was drinking and was taking drugs when he plunged into a swimming pool and drown. he died in june at the age of 47. 20 years ago his beating by police led to riots in los angeles. the report shows he had a number of drugs including pcp, cocaine and marijuana at the time of his death. he was in a state of drug and alcohol induced delirium when he fell or jumped into the pool at his home. >>> facebook is responding to complaints about its mobile app with the new update. they released a new version of the app today. facebook says it was redesigned so everything loads faster. it has new features including the ability to "like" comments. >> hewlett-packard is ready to jump back in. a memo leaked talks about a new mobility unit. hewlett-packard tried to compete in the tabl

hewlett-packard c.e.o. meg whitman, says her company is, "still in the early stages of a multi-year turnaround," the comments come as the computer maker posts a near $9 billion loss after writing off its purchase of e.d.s., saying it paid too much for the firm. but ex-out that $9 billion charge, and the computer maker's latest numbers beat estimates. h.p. earned $1 a share, $0.02 ahead of analyst estimates. motley fool's andrew tonner says times have changed, and consumers just don't want p.c.'s. >> this is going to be a multi- year process, people need to realize there's going to be a lot of innovation that has to happen in order for h.p. to survive in what we call the post p.c. world. we saw really challenging numbers for them in terms of desktop sales and that's just going to be the new reality for them. tablets are the new norm. >> susie: tom, h.p. stock rose more than 4% in after hours trading: up 4% to about $20 a share. that reversed losses in the regular session, where shares ended down about 4%. >>

will stop making ink jet printers as the journal says do not trust the turnaround at another pc giant, hewlett-packard. we'll begin with crude oil prices rising back above $96 a barrel as tropical storm isaac has led to refinery shutdowns in the gulf. gas prices also rising due to isaac. the latest survey from aaa shows the national price for a gallon of regular gas edging higher to more than $3.75. the president expected to issue a statement on tropical storm isaac in about an hour from now.

we have been watching shares of hewlett-packard since yesterday for about 20 hours now since the company reported despite beating the street by about 2 cents on the top line, still the worth bottom line rather and still the worst loss in company history and even management noting it will be a tough period ahead. we know there are bigger forces playing against the pc market. you have increased folks commuting on those or communicating and doing anything else on those mobile phones and economic forces around the world. >> thank you very much. now let's trade this. hp,s in a company, guys, a lot of people forget is the biggest company in technology in the world by sales. it will now be passed by apple before the end of this year. this is a company with more than 300,000 employees. bk, hp is a massive corporation that is being in a massive slide the last 12 months. >> it has been and also a corporation that's in transition, so you had meg whitman in there, actually if you look at the numbers, she is kind of righted the ship, and that is what she was hired to do. so now if you believe that he

hewlett-packard is still a company in turmoil. going into the fourth quarter they could start to see a bottom. going forward, you have to see what happens in q 4, and take a wait and see approach here. >> the stocks are up tonight, does that play -- >> that's a difficult to get out, and i just resist the temptation. >> thank you for being on the program pe be sure to keep it here after the bell when we will have analysis and investor reaction to hewlett's latest earningings. >> as we go toward the close. a little over 30 minutes left. financial uncertainty has many millionaires thinking about leaving the country. we're not talking about the united states states. we're talking about whooi in a, chinese millionaires leaving. what does that say about the economy and what would it mean to the u.s. if those millionaires continue to stream over here. we'll look at that. plus, you think the economy is bad now. wait until next year. why a major government money office is warning of a big-backed recession next year. tdd#: 1-800-345-2550 wh

. >> hewlett-packard expected to have a rocky trading day. let's say good morning to linda bell at bloomberg headquarters. >> a rocky trading day. hewlett-packard shares indicated to land open lower after reporting a loss, $9 billion. consumers have been turning away from pc's. more than 11 dows and workers will leave the company by the end of october. silicon valley neighbor facebook just got the green light from the federal trade commission to apply as a photo schuring website instagram. the national venture capital association ranks your city fourth when it comes to a tech startups, based on how much money was invested in young technology companies last year. washington gave birth to aol and now has living social. americans are getting better at paying off automobile loans. more homeowners are still underwater on mortgages. more on that in the next hour. live at bloomberg headquarters in new york, linda bell reporting for abc 7 news. back to you. >> thank you. 4:38 right now one this thursday morning. >> from the >to florida people stockin

we are seeing the same with hewlett-packard today. it is the worst performer on that dow jones industrial average. out with bad numbers particularly in the pc business. down 10% there. analysts are not liking it. stuart: it is all your fault, lauren, because you are the one that said the pc market is getting killed, not damage, killed. lauren: it is getting her severely because of tablets and smart phones. stuart: lauren, thank you. according to a new study, the middle class is shrinking. it is not just because they are getting poorer. it is because some of them are getting richer. elizabeth macdonald is here. i want some numbers here. >> you would not get what you just said from the headlines on the story. what is so bad about the national conversation and the reporting on this is it is incomplete. it leaves out what that research shows and what irs data shows and does not show. research which was done based on surveys, in 1971, 61% felt identified as middle-class. by 201151%. where do those people go if they don't feel like middle c

. >>> a major victory for hewlett- packard today in a lawsuit against oracle. a judge ruled oracle violated the terms of an agreement when it decided to end support for hewlett-packard's servers. they want $4 billion in damages. >>> for the first time ever a hospital got the chance to use a state of the art surgery equipment. the medical center includes a high definition image linked to the surgeon's cameras. the surgeon conducting today's surgery said this new technology will improve all aspects of the process. >> it does help improve patient time, surgeon confidence and demeanor which is better for everybody. >> the equipment is the first in northern california and among the first three in the state. >>> it was hotter inland today. you can see the fog, it is shallower, that heeded up the -- heated up the valleys. in the avenues, golden gate park, marin, fog, pacifica has fog. you see how it is there, stuck there? that is how you know it will be hot tomorrow when the fog isn't pushing inland. live picture of the fog. notice how it is not hitting the east bay h

hewlett-packard or steve jobs. the seats we plant brings the vast forests of new products and new technologies and new patents in the future. that is where we have to -- we have to keep our eye on the main thought here. that is the discipline, the imagination, and the investment. that is what makes california -- that is why people are still coming here. they're not staying in colorado, i am sorry to say. they're right here. [applause] >> just briefly, setting aside plunder for a moment. >> i am sorry about plunder. it is a big part of wealth creation. >> could you talk briefly about your turn initiative? >> it is going well. mike rossi is leading the charge. i have met with what i think will be the next president of china. we have delegations from china to come here. we're sending delegations there. this is not just business as usual. we're getting detailed committees and proposals, a couple of the key states. we want good coming this way. we want good going out way. -- goods coming this way and we want goods going

hewlett-packard shares are down quite a bit. meg whitman said the turnaround is making progress but we are talking about an aircraft carrier turning in to see. james bolger told cnbc this morning that he is not concerned about the economy and held jobs claims head above 400,000, taking the shine off of yesterday's fed. the market is opening lower this morning. the dow is off by 68 points. lots of pressure from hewlett- packard, shares are down by 6%. >> move over disneyland, there is a plan to build a massive theme park on the other side of the altamont pass dubbed the spirit of california and would be built on a 628 a. plot of land in tracy. a lot status developer has been given exclusive rights to negotiate the project which would be four times the size of disneyland. it would include a casino, convention center and racetrack. >> everything that they propose to put there would be good for tracy and would be fun for people >> i don't think it would be nice of them to put it where it will keep us awake >> the developer must prov

. >> what the numbers say about business with bet founder bob johnson and former hewlett-packard ceo carly fiorina. i'm candy crowley, and this is "state of the union." >>> first today, mitt romney. gloria borger caught up with the nominee yesterday in indiana and he hit back on president obama's proposal to raise tax rates for people making over $250,000 a year. >> i think it would be an enormous mistake for us to raise taxes on anyone right now with the economy in the trouble it's in. i also hope people understand that when they talk about raising taxes on the wealthy, as the president does, he's also talking about the same tax rate that applies to small business. >> more of that romney interview in just a few minutes. but i wanted to bring in republican senator lindsey graham of south carolina. thank you for joining us, senator. >> glad to be with you. >> let me ask you first about the president's plan or his wish to raise taxes essentially on those making $250,000 and above. we now have some democrats saying, you know what? if republicans are going to dig in, let all these taxes

. >> basically you pointed out the fact that dell and hewlett-packard, apple's competitors, are doing so poorly, you do expect dell and hewlett-packard to be beleaguered. >> apple is accideexcelling in . have you microsoft, google in the tablet space, samsung big there. and the massive bifurcation between old tech and the computers on your desk and the ones in your pocket or small bag. to me, those guys are going the way of the do do. they are classic value traps for those stocks to be down so low after the guidance they gave, that's really bad. but a lot of money is obviously pushing into apple. i want to make one point this activity and vols spiking, it's a little giddy here in a lot of ways and makes me a little nervous. a little nervous and that's just the short term bearishness. >> and that's good for viewers to know. you can look at those spikes and read that as giddy. why don't you walk us through as to why you would interp it that way. >> especially in a name like apple which is a stock that is largely composed of cash. if the stock is rising a lot of cash on the balance sheet

sandra, key to watch. >> hewlett-packard out after the bell. right now the average estimate analysts, 98 cents a share on revenue of $31 billion. this stock has lost a quarter of its value this year. facing largest loss in history. although that is expected because it is absorbing massive charges, tied to one of the ill-fated acquisitions. that was back in 2008. electronic data systems that is all going to be in this release tomorrow. this is closely watched earnings report from hewlett-packard. david: adam, if you want want a clear read on economy you have to get a read on housing. we have one of those key indicators coming out tomorrow. >> that's right. zillow said we had hit bomb. suite we'll get the national association of realtors getting home sales for august. we expect to 3.3 increase to annual rate of 4.5 million. keep in mind last month we were dispointed by the figure. it missed expectations. but people seem to be finally bullish on housing. look at the s&p 500's homebuilder etf. it is doing pretty well. that is home builders. but wit

hewlett-packard getting hammered and bill which reported a before hewlett-packard also down 4%. >> no one is buying a pcs anymore. and the most active on the dow, the biggest loser. liz: wheel futures did the complete opposite. oil futures closed after two trading sessions looking at energy stocks following suit. >> also companies that are down today. and -- >> new home sales coming better than expected. in this next hour, a real mixed situation in terms of the home stocks. >> we saw a lot of home

hewlett-packard will likely report the largest loss in the company's history today after the closing bell. hp is the largest maker of computers in the world, but that means really very little if people aren't buying computers and are buying ipads instead. hp's in the midst of an 8% layoff and will have to set aside money to compensate for the poor return of a different company it bought recently. >>> paypal has signed a deal with the discover network to allow you to pay with paypal any store that takes discover. instead of swiping the card, you'll be able to use that same credit card machine to type in your mobile phone number and a special pin and pay at the mall that way. you can already do this at home depot and a couple of other chain stores, but today's announcement widens paypal's reach to any store on the netwo network. the company says it should be in place by the end of the year. paypal's parent company, ebay, is up about 4% on the news. back to you. >> okay, scott. thanks. >>> an ex-apple employee is suing that company over the guaranty of a, quote, job for life. wayne good

i'm not saying i would buy -- >> it sounds like hewlett packard. >> it does not sound like hewlett packard. the value guys will not step and buy it given what's going on in credit default. >> they will not step in and buy it. >> you have my colleague over at "street signs" being a buyout candidate a few days ago. when you look at it and look at the balance sheet, it's not the same as some of the others. >> not quite. good stuff. talk to you again soon. herb greenberg. samsung launching the latest imp pad kp ipad competitor. cnbc's john fort has details. i saw pricing came out a short time ago. >> that's right. looks like 499 for entry level version equal with ipad though the screen resolution isn't as good. they are doing two important things. one, they are touting it as a creative tool because of pen and put technology built in which flies in the fast of apple's strategy which focuses on finger input and simplicity. this goes into the ecosystem with the popular smartphone. samsung's itunes play even though it's not about media. note 10.1 has the feature where the screen stays bright when

thing, if you were running for president, and you had been a private equity person who helped start hewlett-packard, would it be the one you would use right now if you had a whole group of companies to use as an example. >> hewlett-packard, sadly, as squandered market leadership. companies have to continue to innovate and invest to stay head. the past is not a fore shadowing of the future. never the less, i'm delighted that there were people that had the foresight to invest in companies like hewlett-packard and staples so they could provide great products for customers, and it becomes incumbent on management to make the right choices. >> so you think this did resonate then with folks? the stories that he is messages are resonating with americans? >> what i loved about that op-ed is it made it real for people. it made what he learned in business real for people. he needed to do that. for some people they did not understand the question between a master of the universe and private equity, how does that translate. >> and there's a lot of misinformation out there. >> herb, what do you think, is romney'

. >>> is hewlett-packard a stock to run away from now? >>> plus, isaac is threatening more than the rnc convention. and several disrupters and reputation.com, that site helps you restore your internet implications that apparently i need to do. and if you need a doctor, zocdock, that's coming up here on "squawk box." [ male announcer ] ...forbusiness.com. ♪ ha ha! orange juice futures jumped 6% yesterday to a six-week high after forecasters warned that tropical storm isaac will strengthen into a hurricane and could possibly hit south florida by monday. take a look at that. wow, that is some serious movement. florida is the biggest orange market, about 50 million boxes were lost when hurricane wilma hit in 2005. experts do note that frost and blight have historically done more than hurricanes but again you have people paying attention. >>> hewlett-packard meg whitman is urging patience with this turnaround. hp did estimates with the earnings. let's get right into it. we've had dell this week, we've had hewlett-packard before. what do you

after the close we'll hear from hewlett-packard and guess. >>> dell's second quarter profits fell 18%, beating forecasts but revenues fell 8%, shy of analyst estimates. the company is projecting revenue decline in the third quarter and cutting its full-year earnings outlook. dell says pc distributors are holding back on buying new machines as they wait for the launch of the new windows 8 operating software this fall. shares were down more than 4% after hours. now more than 6% in frankfurt trade this morning. well, rofl winkler is tech reporter at wall street journal. thanks for getting up for us. tell us whether -- >> morning. >> -- these figures from dell should give people pause about strength in the pc market more broadly. >> or lack of strength, sure. it's just a reminder it stinks to be in a commodity business, which dell is still in. they still have over 50% of revenue coming from pcs, laptops. this is a very challenged market, right? you have tablets on the one hand, starting to steal share and low-priced chinese rivals undercutting on the other end. by the way, speaking of tab

bad news for hewlett-packard, for example, can sometimes be only bad news for hewlett-packard. if they tell you it's raining the odds are pretty good when you hear from apple or ibm they'll likely tell you that it must be only be raining on h hewlett-packa hewlett-packard's side of the street. business is just fine where they're standing. kohl's, it's only raining on their side of the street versus macy's. you can't assume all companies in the same industry are equivalent. sometimes there isn't any pen action, which is why i keep my pen sounds. you can't extrapolate one company's results to the rest of the industry. that was frequently the case when that company is one of the losers. hey, it happens in every industry. it's not just tech stocks that hide behind other sectors when the ball drops. avon, when its business faltered, even direct sellers flourished, they were talking about the business model not being any good. that's great tupperware and her ba -- herbalife hitting it out of the park. we saw this phenomenon pay out in fast food. wendy's saying the consumers can't aff

. >> mark: hewlett-packard has some problems the accompanied to the loss almost $9 billion that was mainly a bad investment. >> yes, it was a horrible investment for them and on top of that they have had some problems but there is nothing to like in hewlett- packard. it is a pig with a lipstick at best. you can increase the dividend but really the desktop sales are down, apple is getting 52- week all-time high. i wonder what is happening here? 2016 is when they will be done turning around 2016 will be the brazilian of ethics, the london olympics just ended. >> mark: ok we will catch you again with today's winners and losers. >> erica: now let us take a the that the golden gate bridge, the clout coverage and the fog has thickened up, some of the drive with extra caution. this also impacts are arriving flights. your delay is up to 65 minutes. this is the case throughout the rest of the morning. we are not hearing about any delays on the departing flight of we could see a domino effect as we head through the course of the morning. by 12:00 we '70s and maybe some low 80s developing for places

he's facing illegal weapons charges. >> there is hewlett-packard said it will take a $9 billion loss this quarter, hp is planning to layoff 27,000 people this, will be the second time the company lost money in 15 years. >> and apple iphone accounts for 17% of the market, phones using android system are outselling the iphone by four to one. the dow is now on its longest winning streak since june. nasdaq went down a little bit. the stock rose more than 2% today. >> and social media is creeping into your car experience. and there is cadillac deciding to produce what it calls cadillac of infotainment systems. and we will not have that story for >>> back to the story of the new cadillac infotianment system. this is called q for cadillac user experience. and you're just as much a user as a driver. >> there is mechanical instruments that are just pictures on a screen you can customize. >> there is a vibrating seat warns of obstacles. if you're stopped feast your eyes on this. >> and with apps, designers figured out most are using not one, but two or more devices and middling them. they want

bad news for hewlett-packard, for example, can sometimes be only bad news for hewlett-packard. if they tell you it's raining the odds are pretty good when you hear from apple or ibm they'll likely tell you that it must be only be raining on hewlett-packard's side of the street. business is just fine where they're standi. kohl's, it's only raining on their side of the street versus macy's. you can't assume all companies in the same industry are equivalent. sometimes there isn't any pen action, which is why i keep my pen sounds. you can't extrapolate one company's results to the rest of the industry. that was frequently the case when that company is one of the losers. hey, it happens in every industry. it's not just tech stocks that hide behind other sectors when the ball drops. avon, when its business faltered, even direct sellers flourished, they were talking about the business model not being any good. that's great tupperware and herbalife hitting it out of the park. we saw this phenomenon pay out in fast food. wendy's saying the consumers can't afford a hamburger today, but i

bad news for hewlett-packard, for example, can sometimes be only bad news for hewlett-packard. if they tell you it's raining the odds are pretty good when you hear from apple or ibm they'll likely tell you that it must be only be raining on hewlett-packard's side of the street. business is just fine where they're standing. kohl's, it's only raining on their side of the street versus macy's. you can't assume all companies in the same industry are equivalent. sometimes there isn't any pen action, which is why i keep my pen sounds. you can't extrapolate one company's results to the rest of the industry. that was frequently the case when that company is one of the losers. hey, it happens in every industry. it's not just tech stocks that hide behind other sectors when the ball drops. avon, when its business faltered, even direct sellers flourished, they were talking about the business model not being any good. that's great tupperware and herbalife hitting it out of the park. we saw this phenomenon pay out in fast food. wendy's saying the consumers can't afford a hamburger today, but

stuart: and hewlett-packard have they got their numbers out later or selling before they get the numbers out? what's going on? >> well, they're just down along with dell and this is just the pc market story overall. i mean, we're going to see this, the tech stocks under pressure and the home builders taking off and that's our theme. stuart: what we're looking for in ten minutes and thanks, nicole, we appreciate it. will the obama team really try to take credit for the big run-up in the dow and the s&p? we're close to four year highs on those two indicators. who should take credit for this? and joining the company from los angeles is gilmore ral less with the best named company on the planet, virtual investing.com. all right, the dow and s&p 500 at 4 year highs and gold moved up to 1640. who takes the credit? why are these markets going up like this? >> well, i don't think the obama administration can take credit, because you can't point to any policies that have led to any sort of economic boom. we've got unemployment over 8% for more than 40 months now and you've got over 45 million peo

the judge said that hewlett-packard made a commitment and the case will go to trial to decide whether or not they will revoke the contract or if any damage will be rewarded apple --and oracle said that they will appeal this decision. >> justine: -- >> james: we have a full day [ female announcer ] now get high speed internet at home on our newly expanded advanced digital network, a connection you can count on. introducing at&t u-verse high speed internet with more speed options, reliability and wi-fi hot spots than ever. go to our website below to get u-verse high speed internet for just 14.95 a month for 12 months with a one-year price guarantee. it's all the speed you need all at a great price. our newly expanded advanced digital network gives you more of what you enjoy online. and with at&t, our wireless gateway turns your home into a private wi-fi hot spot that connects your wi-fi devices and can even save on your smart phone data usage at home. go to our website below to get at&t u-verse high speed internet for just 14.95 a month for 12 months with a one-year price guarantee. tha

aspercreme. >>> joining me is bet founder bob johnson and former hewlett-packard ceo carly fiorina. i want to put up this poll that comes from gallup. in the first quarter, 41% of business owners approved of president obama. and it fell to 35%. explain to me why that is. >> well, i think the business community is looking for not just what happened in the past and how those problems came to be. the economy in a freefall and president obama comes in focusing on creating jobs, focusing on ending two wars, focusing on reforming health care, controlling costs, and putting some 30 million people on the health care payrolls. i think they now want to see what his future vision is for the country if he's to be re-elected. >> has he laid that out do you think? >> well, i think he is beginning to lay out the framework for that. and i would encourage him to do more. i think there is an argument that the business community would like to see the president talk more about simpson-bowles as a sort of blueprint for where he might go with the economy in the next election. i think the business communi

. >> hewlett-packard says it suffered a $9 billion loss during its most recent quarter as it accounted for an acquisition which has not panned out. that trapz lats to a -- translates to a los of $4 a share. it is the largest setback in its history. coming up, a state of emergency for three northern california counties. counties. and did contra costa county's warning system work? >> matt cain and the giants go for a sweep of the dodger accident and another bay area player suspended. >>> a study finds the american middle class has suffered its first decade in modern history. the share of that earned by the middle class has fallen to its lowest in decades. in all, 85% of middle class americans sayit more difficult -- say it is more difficult now than a decade ago to maintain their standard of living. >>> governor jerry brown has declared a state of emergency in three counties. firefighters have this fire about 55% contained at this hour. it has destroyed 50 homes and other buildings. and the chips fire has charred nearly 63,000 acres. 900 homes are still in danger there. >> it was cooler

. >> yes, hewlett-packard is a big loser today, leading the dow jones down lower. i also want to talk about facebook because we're seeing a green arrow for facebook today. the news is ubs has joined citigroup right now in criticism of the 62 million dollars compensation fund for those who lost money in that botched ipo back in may. citi has said that, you know, this fund should really be hundreds of millions of dollars more, and they are calling everything the nasdaq is doing inadequate. now, ubs is joining in those concerns. as for the markets overall, we still do have red arrows, but we are off session lows. the dow is off about 74 points right now. it had been lower by nearly 100. red arrows for the nasdaq as well as the s&p 500. dagen, back to you. dagen: thank you very much. we do want to tell you, hpq, hewlett-packard is down 6 1/2% today. so wow on that major loss there. the number of wealthy americans up 6 percentage points in the last 40 years. but you wouldn't know it from a new research study. elizabeth macdonald has been investigating and has your botto

both of those screwed it up for hewlett-packard. i don't want that to happen at apple. and he tried deeply to find out the bozo explosion so there is only a team of great players, but also to say there is a simple, simple thing that apple stands for, which is the intersection of great creativity and humanity is with great and technology he. and he said that as the disney did. you know, that is what a lot of people have done. there accompanies the last. ibm is almost 101 years old. i think apple has been viewed in its genetic code as design your to drive great design and artistic creativity with great engineering and technology he. and it will be at that intersection and the people there now are capable of keeping it at that intersection. you know, 10 years from now, 25 years from now, look, disney up and down, up-and-down, but you still know what do they stand for and is doing fine right now after a few rich passes since walt disney died. if i had to be sure and unlike rick perry i am a betting man, not $10,000, but i would wager that a generation from now, even a centu

hewle hewlett-packard is giving it a left. a lot of weakness in consumer discretionary stocks today. a bit of a pullback in telecom as well. this is offsetting the strength we're seeing both in materials and consumer staples in today's session. and digging a little bit deeper into why we're seeing weakness in consumer discretionaries you can point to a lot of the travel agency stocks, notably priceline which had a very strong quarterly result but lowered its look for the year because of weakness in the european markets. and take a look at orbitz also coming in with earnings that were a penny shy of estimates but more importantly, this is -- the decline there, you see 25%, is its worst one-day performance in three years there. staples, though, getting a boost. consumer staples getting a boost from dean foods. the milk company basically reported stronger than expected earnings but more importantly spinning off its organic foods unit, and that's giving a big lift to its stock up 36%. cvs caremark reporting better than expected re

shares of dow component hewlett-packard falling to a fresh eight-year low. dell now trading at lows not seen since may of 2009. heinz one of today's bright spots, up more than 2% to new all-time highs. the food maker says it expects fiscal first quarter earnings and sales to beat wall street's expectations. >>> want to take you to a live picture from mckinney, texas. the seen of a natural gas line explosion. it occurred near the intersection of state highway 121 and u.s. 75. traffic, we're told, shut down in the area. so far no injuries have been reported. some dramatic pictures coming out of mckinney as we continue to watch situations, guys, in which oil or gas or petroleum runs into problems in the supply chain. >> exactly. yet more supply side disruptions. >>> meantime, president obama declaring a state of emergency in louisiana as powerful isaac takes aim at the gulf coast. isaac is still a tropical storm but just barely. it's expected to grow into a category 2 hurricane before onshore tonight or early tomorrow. joining us first on cnbc to talk about pre