and earnings from johnson&john an and goldman sachs. goldman sachs coming in with earnings ahead of expectations. in yesterday's session, the dow fell 265 points to 14599 and the nads dabbing fell 78 to close at 3,216. at jon mentioned, carnival cruise will reimburse the government for the cost to the passengers on the cruise ship. it left thousands of people stranded. carnival has come under fire from senator jay rockefeller who questioned the company's willingness to pay. he is the chair of the senate commerce committee and he estimates both accidents cost the coast guard and the navy more than $4 million. back to you. >>> thank you very much. we'll check back a little later on. >>> right now, we want to check in with meteorologist, christina loren. >> good morning. >> good morning to you. we had really strong winds yesterday and this morning, it is really chilly out there. you want to make sure you are prepared for the weather elements today. starting with your testimony change, over the past 24 hours, temperatures are running 1 to 1

they're all goldman sachs alums. the bill back to goldman sachs. they go back into government. -- they all go back to goldman sachs. they go back into government. it is a white house issued. >> this goes back to the media in a way. i will go back to goldman sachs if i must. remember in august when there were about 1200 people doing civil disobedience around the white house protesting the keystone pipeline. the corporate mainstream media was like this on that. imagine if 1200 tea party members hitched themselves to the date of the white house. when occupy launched in september in new york and then moved across the country, suddenly there was more attention being paid to other movements. it exposed how the media has done such a disservice to this country in the last few years by saying there was one movement in this country, the tea party. there are many other movements. the occupy wall street movement has brought into sharper relief and force the media to pay attention to other issues and movements. i could take off 10 or 15. -- tick off to enter 15

sachs goldman sachs pays its part time board members half a million dollars a year they only need fifteen times that's the reason why these folks who work at mcdonald's forty hour forty hours a day forty hours a week or down to forty hours a week very productive they work forty hours a week and they only make seven twenty five an hour which was fifty thousand dollars a year less something that's going to waitress actually hired some states they do make one some point five so that's actually unfair to suggest that you bring up the stress issue that's their choice we limit a lot of choices that people can you know if you're not making the choice you're actually forcing certain choices are damaging to the economy and deciding to pay your executives more than they can ever spend while paying your workers poverty wages tell is a bad all. inflated wage is limiting choice you're not letting the market set the wage you're saying well it's so unfair we're going to have the same learned in global markets as that wage and we do is we have to compete with bangladesh they want to race to the bottom th

sachs goldman sachs pays its part time board members half a million dollars a year they only need fifteen times that's the reason why these folks who work at mcdonald's forty hour forty hours a day forty hours a week of school or forty hours a week very productive they work forty hours a week and they only make seven twenty five an hour which was fifty thousand dollars a year less well that's a crazy way to actually hired some states they do make one some point five so that's actually unfair to. bring up the stress issue that's their choice we limit a lot of choices. people can you know if you're not making a choice you're actually forcing certain choices are damaging to the economy in deciding to pay your executives more than they can ever spend while paying your workers poverty wages tell is a bad. inflated wage is limiting choice you're not letting the market set the wage you're saying well it's so unfair we're going to have the same learned in global markets as wage and we do is we have to compete with bangladesh they want to raise the bottom this is absurd this is absurd what you're

. >>> oak lann could decide to cut ties with goldman sachs. activists are urging the city council to stop doing business with the wall street investment bank after it refused to cancel an investment that would cost taxpayers $20 million before it expires in 2021, but the oakland city administrator is hiring a firm into cutting ties with goldman sachs. goldman sachs will reportedly get a chance to respond to the issue during the finance committee hearing on tuesday. >>> an e connick oak tree at the state historical park will be cut down this fall. this is a picture of jack london and his wife in front of the tree in the early 1900s. california state park officials say the tree is ready to fall because of a wood-eating fungus and the tree killer known as sudden oak death. it is where landon wrote dozens of books and short stories. >> they will have the world series wins. before the first pitch they will hold a ceremony to honor the 2012 team. this is the team's second world series ring ceremony in three years. the first 40,000 fans to enter the

goldman sachs has a list called conviction -- i don't think any firm, especially goldman sachs, can have conviction and -- >> and now they have no constriction on apple. the analyst sites that the company's most recent product was tort. the target was cut from 7735 to 6/6to 660. hewlett packard was downgraded from sell to neutral at goldman sac sachs. and the price target there at 16. finally, goldman sachs downgraded -- oh, they were making the moves. now i guessback of america is downgrading goldman to neutral from buy at bank of america merrill lynch. >>> when we come back this morning, facebook is reportedly courting an online dating site to have re buffaloed. >>> first, as we head to break, take a look at yesterday's winners and losers. zap technology. departure. hertz gold plus rewards also offers ereturn-- our fastest way to return your car. just note your mileage and zap ! you're outta there ! we'll e-mail your receipt in a flash, too. it's just another way you'll be traveling at the speed of hertz. >>> making headlines, facebook is reportedly in the process of acquiring a start-

sachs. >> at the goldman sachs. >> at the goldman sachs. >> that can go well on amr? >> i hurt everybody and i learned never recommend an airline stock until 2013, but time has passed. >> a lot of people, us airways when i flew this weekend in washington, i said thank you. thank you. when continental tossed me out of the green room those days are over and i can walk into any of those ambassador class thing, but that's not the way i fly. >> nicely gheited by the airlines. it is never about that, david. it's not about friends. it's about money! >> perfect place to end. the opening bell just a few minute away, of course, there's a lot more "squawk on the street" and jim cramer straight ahead. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life together where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not com

that was of the see the huge crisis goldman sachs needed to bail out over its loans to mexico that was the bailout of the s n l's that was the bailout of the banks in the one nine hundred eighty s. each time there was this bailout we are the same situation which is that the bankers go to government and say well we've taken all these risky loans and if you don't bail us out the entire economy of the world will come tumbling down and the politicians are don't know whether this is true or not and immediately whip out their checkbooks and write it out this is what capitalism is and therefore what is precisely that the richest are bailed out they continue to earn the massive bonuses while everybody else has to pay for their risky loans and the risky you know nonsensical decisions where's the personal responsibility in all of this i mean if there is nobody willing to take on loans that they couldn't afford to pay that back or take on mortgages that they couldn't afford to pay. there wouldn't be a crisis i mean if if banks where they're saying to people look i want to force this loan upon me

that was of those who the huge crisis goldman sachs needed to bail out over its loans to mexico that was the bailout of the s n l's that was the bailout of the banks in the one nine hundred eighty s. each time there was this bailout we have the same situation which is that the bankers they go to government and say well we've taken all these risky loans and if you don't bail us out the entire economy of the world will come tumbling down and the politicians are don't know whether this is true or not and immediately whip out their checkbooks and write it out this is what capitalism is and therefore what is precisely that the richest are bailed out they continue to earn the massive bonuses while everybody else has to pay for their risky loans and the risky you know nonsensical decisions where's the personal responsibility in all of this i mean if there is nobody willing to take on loans that they couldn't afford to pay that back or take on mortgages that they couldn't afford to pay. there wouldn't be a crisis i mean if if banks where they're saying to people look i want to force this loa

it was at goldman sachs that i first figured out how humbling it could be. it just started a year and a half before i got hired. but when one of your ideas went against you, you had to get on the horn and explain either why the person should buy more or whether they had to cut their losses, kind of like what we hear in the lightning round every night, isn't it? that's why we always have to recognize how fallible investments could be and what to do when stocks go against you. i also learned how to cut your losses and when to cut those losses. i had to learn the hard way. most of my clients were business people who didn't know a lot about stocks. they had been entrepreneurs, investors, that kind of thing. i had a real cantankerous client. i had to work hard to get the guy, try to win him over for ages. i told him i would be judicious. he said he didn't want trade. he only wanted long-term investments. at the time, i liked kimberly clark. i told him i thought this would be great. he agreed. almost immediately it went up eight points. i had a winner. so i called

that was of the see the huge crisis goldman sachs needed to bail out over its loans to mexico that was the bailout of the s n l's that was the bailout of the banks in the one nine hundred eighty s. each time there was this bailout we have the same situation which is that the bankers they go to government and say well we've taken all these risky loans and if you don't bail us out the entire economy of the world will come tumbling down and the politicians are don't know whether this is true or not and immediately whip out their checkbooks and write it out this is what capitalism is and therefore what we get is precisely that the richest are bailed out they continue to earn their massive bonuses while everybody else has to pay for their risky loans and you know risky you know nonsensical decisions and lose their jobs and are then but basically are out for you know the permanently unemployed if you look at the. unemployment statistics or you can see that there's a there's a rising number of people who are basically permanently unemployed they just essentially were just been waiting to die

that was of those who the huge crisis goldman sachs needed to bail out over its loans to mexico that was the bailout of the s n l's that was the bailout of the the banks in the one nine hundred eighty s. each time there was this bailout we have the same situation which is that the bankers go to government and say well we've taken all these risky loans and if you don't bail us out the entire economy of the world will come tumbling down and the politicians are don't know whether this is true or not and immediately whip out their checkbooks and write it out this is what capitalism is and therefore what is precisely that the richest are bailed out they continue to earn the massive bonuses while everybody else has to pay for the risky loans and the risky you know nonsensical decisions where's the personal responsibility in all of this i mean if there is nobody willing to take on loans that they couldn't afford to pay that back or take on mortgages that they couldn't afford to pay. there wouldn't be a crisis i mean if if banks where they're saying to people look i want to force this loan a

that was of the see the huge crisis goldman sachs needed to bail out over its loans to mexico that was the bailout of the s n l's that was the bailout of the banks in the one nine hundred eighty s. each time there was this bailout we are the same situation which is that the bankers they go to government and say well we've taken all these risky loans and if you don't bail us out the entire economy of the world will come tumbling down and the politicians are don't know whether this is true or not and immediately whip out their checkbooks and write it out this is what capitalism is and therefore what we get is precisely that the richest are bailed out they continue to earn their massive bonuses while everybody else has to pay for their risky loans and you know risky you know nonsensical decisions and lose their jobs and are then but basically are out for you know the permanently unemployed if you look at the. unemployment statistics are you can see that there's a there's a rising number of people who are basically permanently unemployed they just essentially were just been waiting to die

that was of the see the huge crisis goldman sachs needed to bail out over its loans to mexico that was the bailout of the s n l's that was the bailout of the banks in the one nine hundred eighty s. each time there was this bailout we are the same situation which is that the bankers they go to government and say well we've taken all these risky loans and if you don't bail us out the entire economy of the world will come tumbling down and the politicians are don't know whether this is true or not and immediately whip out their checkbooks and write it out this is what capitalism is and therefore what we get is precisely that the richest are bailed out they continue to earn their massive bonuses while everybody else has to pay for their risky loans and you know risky you know nonsensical decisions and lose their jobs and are then but basically are out for you know the permanently unemployed if you look at the. unemployment statistics or you can see that there's a there's a rising number of people who are basically permanently unemployed they just essentially were just the waiting to die of

that was of the see the huge crisis goldman sachs needed to bail out over its loans to mexico that was the bailout of the s n l's that was the bailout of the the banks in the one nine hundred eighty s. each time there was this bailout we have the same situation which is that the bankers they go to government and say well we've taken all these risky loans and if you don't bail us out the entire economy of the world will come tumbling down and the politicians are don't know whether this is true or not and immediately whip out their checkbooks and write it out this is what capitalism is and therefore what we get is precisely that the richest are bailed out they continue to earn their massive bonuses while everybody else has to pay for their risky loans and you know risky you know nonsensical decisions and lose their jobs and are then but basically are out for you know the permanently unemployed if you look at the. unemployment statistics or you can see that there's a there's a rising number of people who are basically permanently unemployed they're just essentially. just been waiting to d

that was of the see the huge crisis goldman sachs needed to bail out over its loans to mexico that was the bailout of the s n l's that was the bailout of the banks in the one nine hundred eighty s. each time there was this bailout we have the same situation which is that the bankers go to government and say well we've taken all these risky loans and if you don't bail us out the entire economy of the world will come tumbling down and the politicians are don't know whether this is true or not and immediately whip out their checkbooks and write it out this is what capitalism is and therefore what we get is precisely that the richest are bailed out they continue to earn their massive bonuses while everybody else has to pay for their risky loans and you know risky you know nonsensical decisions and lose their jobs and are then but basically are out for you know the permanently unemployed if you look at the. unemployment statistics or you can see that there's a there's a rising number of people who are basically permanently unemployed they just essentially were just been waiting to die off b

that was of the see the huge crisis goldman sachs needed to bail out over its loans to mexico that was the bailout of the s n l's that was the bailout of the the banks in the one nine hundred eighty s. each time there was this bailout we have the same situation which is that the bankers they go to government and say well we've taken all these risky loans and if you don't bail us out the entire economy of the world will come tumbling down and the politicians are don't know whether this is true or not and immediately whip out their checkbooks and write it out this is what capitalism is and therefore what we get is precisely that the richest are bailed out they continue to earn their massive bonuses while everybody else has to pay for their risky loans and risky you know nonsensical decisions and lose their jobs and are then but basically are out for you know the permanently unemployed if you look at the. unemployment statistics or you can see that there's a there's a rising number of people who are basically permanently unemployed they just essentially were just been waiting to die off b

that was of the see the huge crisis goldman sachs needed to bail out over its loans to mexico that was the bailout of the s n l's that was the bailout of the banks in the one nine hundred eighty s. each time there was this bailout we are the same situation which is that the bankers they go to government and say well we've taken all these risky loans and if you don't bail us out the entire economy of the world will come tumbling down and the politicians are don't know whether this is true or not and immediately whip out their checkbooks and write it out this is what capitalism is and therefore what we get is precisely that the richest are bailed out they continue to earn their massive bonuses while everybody else has to pay for their risky loans and risky you know nonsensical decisions and lose their jobs and are then but basically are out for you know the permanently unemployed if you look at the. unemployment statistics or you can see that there's a there's a rising number of people who are basically permanently unemployed they just essentially were just been waiting to die off becaus

that was of the see the huge crisis goldman sachs needed to bail out over its loans to mexico that was the bailout of the s n l's that was the bailout of the banks in the one nine hundred eighty s. each time there was this bailout we have the same situation which is that the bankers they go to government and say well we've taken all these risky loans and if you don't bail us out the entire economy of the world will come tumbling down and the politicians are don't know whether this is true or not and immediately whip out their checkbooks and write it out this is what capitalism is and therefore what is precisely that the riches are bailed out they continue to earn their massive bonuses while everybody else has to pay for their risky loans and the risky you know nonsensical decisions and lose their jobs and are then but basically are out for you know the permanently unemployed if you look at the. unemployment statistics are you can see that there's a there's a rising number of people who are basically permanently unemployed they just essentially were just been waiting to die off because

that was of the see the huge crisis goldman sachs needed to bail out over its loans to mexico that was the bailout of the s n l's that was the bailout of the banks in the one nine hundred eighty s. each time there was this bailout we are the same situation which is that the bankers they go to government and say well we've taken all these risky loans and if you don't bail us out the entire economy of the world will count on going down and the politicians are don't know whether this is true or not and immediately whip out their checkbooks and write it out this is what capitalism is and therefore what is precisely that the riches are bailed out they continue to earn the massive bonuses while everybody else has to pay for their risky loans and the risky you know nonsensical decisions where's the personal responsibility in all of this i mean if there is nobody willing to take on loans that they couldn't afford to pay back or take on mortgages that they couldn't afford to pay. there wouldn't be a crisis i mean if if banks where they're saying to people look i want to force this loan a piny w

that was of this who the huge crisis goldman sachs needed to bail out over its loans to mexico that was the bailout of the s n l's that was the bailout of the banks in the one nine hundred eighty s. each time there was this bailout we are the same situation which is that the bankers go to government and say well we've taken all these risky loans and if you don't bail us out the entire economy of the world will come tumbling down and the politicians are don't know whether this is true or not and immediately whip out their checkbooks and write it out this is what capitalism is and therefore what is precisely that the richest are bailed out they continue to earn the massive bonuses while everybody else has to pay for their risky loans and the risky you know nonsensical decisions whereas the personal responsibility in all of this i mean if there is nobody willing to take on loans that they couldn't afford to pay that take on mortgages that they couldn't afford to pay. there wouldn't be a crisis i mean if if banks where they're saying to people look i want to force this loan or party when pe

that was of the see the huge crisis goldman sachs needed to bail out over its loans to mexico that was the bailout of the s n l's that was the bailout of the banks in the one nine hundred eighty s. each time there was this bailout we have the same situation which is that the bankers they go to government and say well we've taken all these risky loans and if you don't bail us out the entire economy of the world will come tumbling down and the politicians are don't know whether this is true or not and immediately whip out their checkbooks and write it out this is what capitalism is and therefore what is precisely that the riches are bailed out they continue to earn their massive bonuses while everybody else has to pay for their risky loans and risky you know nonsensical decisions and lose their jobs and are then but basically are out for you know the permanently unemployed if you look at the. unemployment statistics or you can see that there's a there's a rising number of people who are basically permanently unemployed they just essentially were just been waiting to die off because there

now we're up to the professional grade, my time when i started at goldman sachs. i had been courted by goldman sachs for three years before i got a job this the security sales department. helping individuals and small institutions manage their money. but tonight's show, like every show, is about learning how to trade and invest. my study with me at the university of hard knocks. so i will dispense with the anecdotes. trying try to teach you how to make money from the events that occurred when i was at goldman. first, that's where i began understanding the process of actually making money. money management, the ability to build a portfolio trt ground up. i had the best teachers in the world. lee cooperman put on a new investment clinic each day. hardly an hour went by when i heard a great new idea walking down the hall. but you know who i really learned from? my customers. chiefly wealthy individuals from all walks of life. it was at goldman that i learned something that these days can't be understood by so many professionals at this business. that is individuals a

that was of the screw the huge crisis goldman sachs needed to bail out over its loans to mexico that was the bailout of the s n l's that was the bailout of the banks in the one nine hundred eighty s. each time there was this bailout we are the same situation which is that the bankers go to government and say well we've taken all these risky loans and if you don't bail us out the entire economy of the world will come tumbling down and the politicians are don't know whether this is true or not and immediately whip out their checkbooks and write it out this is what capitalism is and therefore what is precisely that the richest of all doubt they continue to earn the massive bonuses while everybody else has to pay for the risky loans and the risky you know nonsensical decisions where's the personal responsibility in all of this i mean if there is nobody willing to take on loans that they couldn't afford to pay that back or take on mortgages that they couldn't afford to pay. there wouldn't be a crisis i mean if if banks where they're saying to people look i want to force this loan upon me

sachs also there was of the see the huge crisis goldman sachs needed to bail out over its loans to mexico that was the bailout of the s n l's that was the bailout of the the banks in the one nine hundred eighty s. each time there was this bailout we are the same situation which is that the bankers they go to government and say well we've taken all these risky loans and if you don't bail us out the entire economy of the world will come tumbling down and the politicians are don't know whether this is true or not and immediately whip out their checkbooks and write it out this is what capitalism is and therefore what is precisely that the richest are bailed out they continue to earn the massive bonuses while everybody else has to pay for the risky loans and the risky you know nonsensical decisions where's the personal responsibility in all of this i mean if there is nobody willing to take on loans that they couldn't afford to pay that back or take on mortgages that they couldn't afford to pay. there wouldn't be a crisis i mean if if banks where they're saying to people look i want to force th

goldman sachs is the latest bank to report first-quarter earnings. analysts estimate shares will be up from earlier consensus to $3.75. however, revenues are predicted to fall 19% from last year. yesterday, citigroup reported earnings that rose 30% in the first quarter, exceeding analysts' expectations. profits totaled $3.8 billion. simliar to other banks, citigroup has been cutting costs. citi laid off 11,000 workers and unloaded $60 billion in troubled assets. joining us now with a bank account of the financial sector, sheraz mian. he's with zacks. good morning to you. how are bank profits overall stacking up? - so far so good. we have heard from some of the best players in the industry at this stage, particularly the ones we heard from on friday, jp morgan and wells fargo. the growth rates look much better relative to preseason expectations. there were surprises - positive ones, particularly on the bottom line. top-line is a bit on the weak side. loan growth is a bit problematic. the mortgage business appears to be slowing down. and most of the po

and morgan stanley and goldman sachs are going to have a very good quarter. goldman sachs i'm predicting will have a trillion dollars under management, a trillion with a t, that they're going to announce. that's a lot of money and they're making more money there than people think. so those four names. i'll throw in cow an here which is also very cheap. >> thanks for your time, charlie. >> thank you. >> coming up next on "fast," the abc's of designing a portfolio. what you can learn from the reformed broker josh brown. and our traders answer their favorite tweets of the day. so stick around. ou nia, i'm mike. what do you drive? i have a ford explorer, i love my car. and you're treating it well? yes i am. there are a lot of places you could take your explorer for service, why do you bring it back to the ford dealership? they specifically work on fords. it seems to me like the best care. and it's equal or less money, so it's a value for me. get a free brake inspection and brake pads installed for just 49.95 after rebates when you use the ford service credit card

goldman sachs. citigroup, another financial institution bailed out by the taxpayers of this country, citigroup has paid no federal income taxes for the last five years. that's not bad. many people out there watching us say that's pretty good. how do you avoid paying income taxes when you're one of the largest corporations in america for a five-year period? that's pretty good. general electric during the last five years general electric made $81 billion in profits. not too shabby. not only has general electric avoided paying federal income taxes during these years, it received a tax rebate of $3 billion from the i.r.s.. g.e. has at least 14 offshore subsidiaries in bermuda, singapore and luxembourg for the purpose of avoiding u.s. income taxes. and you want to know why the american people are cynical about what goes on in washington? you want to know why the congress of the united states has an extremely low level of support or favorability? it is because the american people know they are getting rip

and goldman sachs got caught because he didn't tell the investors that by the way the guy designed it to fail goldman sachs had to pay a five hundred fifty million dollars fine guess how much the hedge fund guy had to pay guess zero zero because he was he didn't have to disclose so he was in cahoots with that with the big bank and i'm going to tax paid five hundred million dollars or so i fifty but but the over a billion dollars was made on this deal by the hedge fund so this is just like a cost of doing business they they don't you don't make this kind of money unless you are very very sure you're going to win the bet take high frequency trading. it's done in nanoseconds by the time you press the button on your each trade account there is a hedge fund that bought the share and sold it back to you made a few pennies profit because they can see you coming they're working in a different time uniform verse they're working in nano seconds you're working in seconds minutes there's a guy who's doing this who bragged to the press that over the last five years the he had had a losing day in f

and goldman sachs got caught because they didn't tell the investors that by the way the guy designed it to fail goldman sachs had to pay a five hundred fifty million dollars fine guess how much the hedge fund guy had to pay guess zero zero because he was he didn't have to disclose so he was in cahoots with that with the big bank and goldman sachs paid five hundred million dollars fifty but but the over a billion dollars was made in this deal by the hedge funds so this is just like a cost of doing business they they don't you don't make this kind of money unless you are very very sure you're going to win the bet take high frequency trading. it's done in nanoseconds by the time you press the button on your each trade account there is a hedge fund that bought the share and sold it back to you made a few pennies profit because they can see you coming they're working in a different time uniform verse they're working in nanoseconds you're working in seconds minutes there's a guy who's doing this. we used to make things in this country for adam smith wealth of nations seven hundred seventy

that was a cover story for bailing out goldman sachs, morgan stanley. the data shows it wasn't remotely possible. morgan stanley, goldman sachs, the rest of wall street had speculated massivery on the bubble finance that the greenspan fed and produced with the interest rates. our financial system was way overleveraged. it was funding itself on hot money that came and went on an overnight basis. and so therefore, the system needed a cleansing. it needed discipline. and we could have let the two of those firms fail. it wouldn't have spread to the main street banks. they weren't engaged in this kind of lenked speculation themselves didn't own the toxic assets. there was never a risk that the atms would go dark or pay rolls wouldn't be met. all of this i describe in shorthand as a coup detat by wall street. and it led them running around the third floor of the treasury department propping up wall street when the taxpayers of america never should have been thrown in harm's way. >> i read through your new york times piece and i would like to quote. you wrote

melissa: yeah. >> a lot of people talking about goldman sachs. last week, three days ago, i believe, goldman sachs came out with a pretty prescient call. they said gold would tumble massively. they cut their long and short-term price targets. guess what happened? it tumbled from what i understand. this is speculation. goldman has no comment as of right now. goldman went in after that as a firm began to short gold. this is what i hear. they know i will ask this and. who lost money out of the this? clearly one of the biggest losers i don't mean them to comment on this is john paulson, the great hedge fund manager who made billions off the collapse of the subprime market. he made a huge bet on gold. one of the biggest, biggest bets i think ever by a hedge fund manager. what i understand he is undo, his holdings are down about a billion dollars. i'm getting that from charlie brady of fox business. who is who is winning, who is losing off the speculation. it is goldman winning, paulson losing off the speculation and who is losing long term, clearly it

you mentioned goldman sachs, isn't it interesting at every stage of all the interventions goldman sachs came out spelling like a rose. i don't know if it's just coincidence that so many people in the government were at one time at goldman sachs. martha: what is the lesson now, i guess, because we continue -- the fed continues to print money. >> right. martha: at just lofty levels that are of great concern to a lot of people. what we're told by the administration is that you w really should -pbt be worried about it. we are concerned about the debt and the deficit but not that much, it's okay. >> martha the big question is how do you put the jeannie back in the battle. martha: very difficult. >> we have this massive infusion of money into the economy and how do you shut that off? now there is a real worry that when we stop with that cocaine addiction of free money that maybe that is going to cause a recession. the question i ask is, what happens when the music stops? and i think that's the question david stockman asked in his book. martha: it's too late to take the pain basically from wha

ashley: lauren, panera getting a nice boost from goldman sachs. >> goldman was hungry today. they're saying stocks like panera bread and yum brand and darden will be okay because despite higher gas prices and higher social security payroll taxes this year we're still ating out. consumer sentiment is okay. the job market is doing wetter. panera bread up 3% at last check also, lifetime high. liz: lauren, isn't interesting when big name investors get into a stock and talk about it. that happened to crocs. legendary investor leon cooperman mentioned it. >> the stock is up 5%, really nice boost. also news out of crocs that they have new chief marketing officer. so that stock was a big winner today. ashley: just before the bell starts ringing. it wasn't a phone or operating system but investors liked facebook's new announcement maybe because it wasn't a phone. >> i'm still trying to wrap high head around why we would want to do something like this but facebook investors buying you up the stock today. it was up more than 3% at

. >> this satisfaction with expectations for the company, goldman sachs has taken apple off its list of most highly recommended stocks. in a note to clients, a goldman and sachs analyst says that the iphone 5 has not sold as well as they expected. he says that apple needs some real " hits " among the products that they roll out dough in the second half of the year. this does not mean that the company is off of sex are radsachs radar completely. >> it looks like the next version of the iphone could happen sometime this summer. asian manufacturers of the components used to make the iphone have hinted that production is about to start for the new model. this is video of the lead in the last iphone that was released in the fall. the company is also working on a cheaper iphone model that when some market share in developing countries. the lord calls model will reportedly have a 4 in. screen and the body will be made from less expensive materials like plastic. right now, the iphone 5 cost around $600. >> we will be right back. 9 pm. you know what that means... we turn into werewolves. no d

goldman sachs will never get that cash flow. they're not that kind of bank. >> give me the read on boeing real quick. >> they're finally going to do the test of the dreamliners again. that is a good thing for boeing. i think it already played out as far as people have priced in it's going to be approved with this battery address and i think i stay on the sidelines against boeing. >>> next up on the "half" mark zuckerberg unveiled his latest effort to crack the mobile challenge facing facebook. is it enough to impress investors, though? one of our traders thinks so. that's why we're going to debate it. >>> is today's lousy jobs number a warning sign for the housing market? we'll talk to the leading voice on home prices, yale university's robert shiller. he's going to make a big call on where stocks currently are as well. we're back in two. we've reduced taxes and lowered costs to save businesses more than two billion dollars to grow jobs, cut middle class income taxes to the lowest rate in sixty years, and we're creating tax free

this against the risk guidelines sent by goldman sachs. he entered counter trades, basically manually. however, when he was questioned about this, he also said he made false statements. what this resulted in was a loss of about $118 million for goldman sachs. taylor saying he was truly sorry. now sentencing is scheduled now for july 26th, and it will be interesting to see what the judge decides. this does carry a maximum sentence of 20 years, but during the hearing, the judge was very critical of the government, saying within the plea agreement that was reached between the government and mr. taylor's lawyers the government wasn't aggressive enough. suggesting, of course, that the judge could sentence mr. taylor to either a sentence that is greater. and in large part, he said, the judge because this tould have risked the safety and soundness of a financial institution? a statement released to the press, mr. taylor said he was sorry for his actions. >> thank you so much, mary thompson, at the courthouse of lower manhattan. airline stocks hav

goldman sachs, here is how they put it technically. they've removed apple from their conviction buy list and lowered the price target on the stock, so i presume, nicole, apple's opened lower. does it count, do the analysts count anymore? >> it's unbelievable, right now this market is picking up. apple was the tech darling. goldman sachs, when apple was at $700, and some of the insiders are talking about this today on the blogs, the market blogs, goldman sachs had a conviction buy list on apple from 700 all the way down to $428. only today do they remove it off the conviction buy list and put it to a buy rating and because they're concerned about demand. not only for apple, but it's down again. >> did they have a new price target from goldman for apple? >> they did. the price target now, they reduced the prices, 575, from 660. stuart: all right. we'll bear that in mind, shall we? thanks very much, nicole, we're up 41 points in the first couple of seconds. i've got big news on the health care front. health insurers, they're going to get

but goldman sachs coming out and trading revenues were actually strong. investment stims were strong. >> i don't have a position in goldman sachs but my cursory look was that this is good. i know stock is trading down today and that's just short-termism. if you're a long term investor in goldman sachs, i would think you would feel good and not worry about whether the next two to three weeks is going to be bad or good. cheryl: top line was good. speaking of extra security in front of the new york stock exchange, we have some employees there but another thing we're looking although, we have numbers coming out after the bell today. intel, yahoo. when you look at the numbers, do you put a weight into this quarter? comparison to the first quarter of last year, it will be toughest specially for intel. >> those two names are story stocks right now. the story with intel, nobody is expecting anything great for them. not after the p.c. sales numbers from last week and, you know, these guys have been hit hard by mobile phones and smart phones. yahoo is still very mu

goldman sachs well below that. >> the situation is certainly not good. you look at the workforce participation rate, a lot fewer people are working today than there used to be and that excuse the numbers. the numbers actually worse than they seem. cheryl casone from the fox business network, thanks for coming in. it is 26 minutes after the hour. coming up, unbelievable video to show you. an off-duty cop rushing to the t.s.a.'s rescue after a woman attempts to bust through the gate. >> this may be a first for prince william. he is snubbed by a girl. wait till you hear what wait till you hear what happened here. ♪ i don't wanna be right [ record scratch ] what?! it's not bad for you. it just tastes that way. [ female announcer ] honey nut cheerios cereal -- heart-healthy, whole grain oats. you can't go wrong loving it. heart-healthy, whole grain oats. license and registration please. what's this? uhh, it's my geico insurance id card, sir. it's digital, uh, pretty cool right? maybe. you know why i pulled you over today? because i'm a pig driving a convert

goldman sachs is rubbing a little salt in the iphone maker's wounds. shibani joshi has the story. >> apple is off of there. goma moving from the conviction buy list. issuing a report today about apple saying the following, most recent product cycle has not driven the market share and new user growth we had anticipated and we believe apple may find it difficult as they hit consensus expectations in the march and june quarters. another reason goldman is cutting its estimates or think it could cut after this on apple is because of this whole china issue. apple has been under attack over the last three weeks accusing the cupertino company treating citizenemployees as second rate citizens. we recognize some people have lack of communication as arrogant, talking about the warranty policy as a sign we didn't care about the value of their feedback. we sincerely apologize to our customers for any concern or confusion we may have caused. there is very good reason for apple and tim cook to be focused on china. this country and the smart phone holders and users ha

goldman sachs said what? >> okay, the first quarter, they're predicting 3% gdp. q-2 and-- >> economic activity in the united states. stuart: spell it out. that's not what they were expecting and turned around and said it's going to be lower. cheryl: yeah. they're saying that we're going to have 2% growth in the second quarter and 2% growth in the third quarter and backing off the earlier predictions and i think with the trading desks around the city, they do listen to what goldman has to say. charles: the only thing, that comes out sunday and the equities futures were higher this morning and people kind of knew that before the futures went up and plus, no one is expecting robust growth here. i don't know if you go from 2.3% to 2%, who is expecting anything over 3%? there's something, obviously, a big move. cheryl: a mixture. charles: a mixture of a lot of things and anxiety. stuart: now this, reach back for a second. some are blaming that very bad jobs report on the sequester. listen to this from market watch, direct quote. the government cutbacks have already be

we have goldman sachs abby joseph cohen. she made a very smart call a couple months ago to remain in the markets. now she is making calls about that. i asked her, surely there are concerns out there. she said, many. so what are they? got to stay tuned for that interview david. i will send it back to you. david: it will be a busy good hour. see you in a couple minutes. let's get to today's action on east coast. we have peter kenny, knight capital managing director is warning of increased volatility. he says investors have to get defensive. ron weiner, whose last stock pick is up 8% since he told you to buy. he is back with more plays how you can make money. larry shover at the pits of the cme. larry, i want to start with you. let's mention the fed. the fed is meeting. they hunkered down. tomorrow they come out. any expectations from traders about what the fed might do? >> i think the expectation is there will not be any major policy change, although vernacular will probably change. that's what we're looking for. the labor mar

goldman sachs liking names. all of them like mcdonald's and panera bread and surging and hitting highest levels in history. yum! brands, for instance, the price target there, increased to $69. buffalo wild wings, getting $91 price target, darden owns red lobster. getting a 52 price target. goldman positive on all these names. back to you. >> i am hungry. thank you very much. appreciate it. tracy: on deck, oil prices sliding nearly $5 the past few days. former shell president john hofmeister weighs in on oil's next move. ashley: first let's look how the dollar is moving right now. it is central bank thursday. the euro dropped initially against the dollar. it has strengthed a little bit at 1.2936. pound is up a little bit today. bank of japan, launched an attack on inflation. it brought the yen down as well we'll have all of that and more of a the break. >>nnouncer: you never know when, but thieves can steal your identity and turn your life upside down. >> hi. >> hi. you know, i can save you 15% today if you open

goldman sachs is in the money business. all that money gets converted into some type of financial instruments and they get traded. >> right. >> converting them is underwriting. it is tkraoeufgt earnings of goldman sachs, jpmorgan, citigroup. >> dick, there's a quote this morning in the press release that's getting a lot of attention. he said the potential for macro economic in stability was felt in the quarter and con trained overall corporate and investors activity. your expectations for the next couple of quarters, same issue? >> yeah. i think you want me to cry again. >> i'm not trying to make you cry. i'm just raising the issue. >> if you want to look at the basic core factors if it grows this rapidly it has to go somewhere. it goes to final instruments. and they get traded. if money is around in huge amounts and the cost of that money is extraordinarily low, then ultimately it's going -- and the stock market is rising, then ultimately you're going to see a significant increase in merger acquisition activity. so the net

taylor entered his guilty plea, goldman sachs said they were very disappointed in the unauthorized. he cost goldman $118 million. >> now to a big pay cut for jc penney's embattled ron johnson. the man at the top is paying for it. this is quite a slash in pay. >> this is the way that a lot of people think that it should work. directly tied to the company's success as the market defines it, the ceo should prosper or flounder right along with the shareholders. 2012 was a rough year for jcp. he received no stock awards like he did in 2011. 2011 compensation totalled 53.3 million. done partially to compensate him for the $50 million of apple stock that he would have vested. >> very interesting. going get $52 million in stock from jcp. restricted shares. i wonder if that stock is worth anywhere near 52 million? >> almost nothing near. he can't exercise at a strike price of 30 for like 14 and change. that's pretty much worth nothing now, too. >> sue? >> we're going to talk carnival. the shares are not sinking. this comes after the engine room fire. and it's only been a little over a year s

she explains why goldman sachs is upgrading its outlook for stocks this summer. that's coming up. >> also, is apple really losing its shine or are investors unjustifiably sour of the company's earnings. we'll decide the debate on apple, coming your way. stay with us. i know what you're thinking... transit fares! as in the 37 billion transit fares we help collect each year. no? oh, right. you're thinking of the 1.6 million daily customer care interactions xerox handles. or the 900 million health insurance claims we process. so, it's no surprise to you that companies depend on today's xerox for services that simplify how work gets done. which is...pretty much what we've always stood for. with xerox, you're ready for real business. >>> welcome become. apple shares lower today despite beating wall street's earnings expectation last night when the company reported. but take a look what's happened in the last couple of minutes. the stock is in positive territory, reversing earlier losses at $406.73. seema mody breaking down why apple matters so much to the rest of the

they're asking goldman sachs to organize meeting with bond investors. they obviously have a lot of cash on hand but may need more. they have buybacks and dividends and heard rumblings of stock splits so that is one we're watching today. back to you. ashley: thank you, nicole, we'll check back in with you while the dow is continuing onward and upwards movement. tracy: not paying attention to anything. ashley: nothing. tracy: no surprise the faa furloughs are done. will there be anymore exemptions for automatic spending cuts? greg valliere will weigh in on that. ashley: we'll look how the u.s. dollar is moving against the currencies. guess what? the dollar is down against them all. the euro up again. the pound at 1.55. wasn't that long ago it was down to 1.50. we'll be right back you make a great team. it's been that way since e day you met. but your erectile dysfunction - itld be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you cabe more confident cialin your ability for to be ready. and the same

from goldman sachs? >> 1270. i don't think it goes that low, but nevertheless, the copper side of the business, i think, turned last quarter. the average price went up dramatically, demand from china and auto and housing picking up. i love the company and they were 1100% mining this year, and this year, 74% mining, and 26% oil and gas getting into the shale business. that would be the difference maker. stuart: we should listen to you. we should. >> this is one of those to be honest with you. stuart: all right. >> look at the cuff links and the watches. stuart: i got to report that cliff natural resources, you picked it, and, yesterday, it went straight up,. >> a huge session yesterday and will move. stuart: proud of yourself? >> yeah, yeah, i've. doing this -- i spent so much time and effort -- stuart: did it as a kid? >> when i was 14 # years old. yesterday, solar, i had people on first solar 26, and yesterday up to 28. i can't tell you how good it feels. thankstuart: we should promote . >> thank you, appreciate

here is what goldman sachs is saying. they came out with a bit calling they believe gold prices will fall even further. now, they are saying we aren't out of the trade. however, they are laying in the very near term am a gold prices could fall further. they are doing around and they are bullish now. they are saying gold has the potential to gain another 10% from these prices. they are caught however, bearish near-term on the rest of the commodities complex. they are bearish on oil prices. they are bearish and the soft commodity complex like coffee. most of these calls are based on weak demand for these products from china. rather, we have the week numbers out of the chinese economy early last week. they are pretty much bearish on all of the commodities. they are saying that gold may turn around. connell: thank you, sandra. let's turn to brian jacobson a busy day in the markets overall. it is always good to have you on, brian. let me start with what sandra identified. the goldman sachs turn on gold. maybe we see the bottom