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

goldman sachs was the last large private firm on wall street. when you are a private partnership your partners? incentives are much more aligned with clients. if you do a deal with the government of libya and it ruins your reputation and people pull money from your firm, you will feel immediate pain because your capital is tied up. when these firms became public it became much harder to take ownership of the problem. i do think that it is an issue. it is hard to go back in time and privatized firms, but when they were private incentives were aligned. i think client interest was better served and banks were less dangerous because they were less big. the reason banks became public is because of this move in the late 1990s to create what i call these banking supermarkets like citigroup. in order to compete every investment bank had to get bigger by getting public funding. if we could go back in time and reverse glass-steagall being repealed, reverse the derivatives being deregulated, reverse the leverage issues, in my opinion i do not think we woul

greg smith resigned from goldman sachs in 2012. he speaks to students at stanford university and why he quit and the ethics of wall street firms. this is just over an hour. >> professor of political economy here at the stanford graduate school of business. this event is cosponsored by the center for ethics in society which has a year-long series of seminars on the ethics of wealth. there are other parts of that series you may find interesting. this may be of interest to you going forward throughout the year. before we get started, i want to say a few logistical things. greg is doing an event at the bookstore at 6:00 p.m., if you have detailed conversations you want to have, that might be the appropriate for them. secondly, this is being recorded by c-span, so this is forced future broadcast, just so you know if you are asking a question, you may wind up on television. because of that, we have microphones for q&a, so he will talk for about a half an hour and then do some q&a. if you have questions, head to a icrophone and he will ca

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

while goldman sachs says it ex up. everyone will be listening very carefully to mark zuckerberg's comments on the call, looking for insight into new potential business down the line. >> brian has a question, julia. >> you have heard anything about the facebook home page, how successful will that be, will that drive ad sales here in their mobile devices, drive revenue to the company? >> well, it's still too soon to be seen. obviously we would love to hear reports on how successful it's been. when it launched in android, the reviews on the android store were not great. they were kind of mediocre. but it's only been available to a limited number of people. so, i think that we'll see what happens when it rolls out to more and more users. they are making some of those features available to iphone users, but i think at the end of the day, anything that makes its mobile services stickier, more appealing, is probably a good thing for facebook. >> julia, thank you for that report. >>> okay, so, brian, you've got a trade. what i

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 was the last large private firm on wall street. when you are a private partnership your partners' incentives are much more aligned with clients. if you do a deal with the government of libya and it ruins your reputation and people pull money from your firm, you will feel immediate pain because your capital is tied up. when these firms became public it became much harder to take ownership of the problem. i do think that it is an issue. it is hard to go back in time and privatize firms, but when they were private incentives were aligned. i think client interest was better served and banks were less dangerous because they were less big. the reason banks became public is because of this move in the late 1990s to create what i call these banking supermarkets like citigroup. in order to compete every investment bank had to get bigger by getting public funding. if we could go back in time and reverse glass-steagall being repealed, reverse the derivatives being deregulated, reverse the leverage issues, in my opinion i do not think we would

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

now, a couple weeks back, dan made a bearish trade on goldman sachs. the stock has since moved against him, but he hasn't lost any money. and here's why. on "options action," it's the one rule you can bank on. risk less so you can make more and that's what dan tried to do with his bearish bet on goldman sachs. dan thought gold man would stumble. >> i think it could be vulnerable. >> but just shorts the stock? >> that's living in denial. >> it sure is, because shorting any stock exposes you to infinite risk. to make a bearish trade and define his risk, dan bought the may 145 strike put for $5. now, to make money, dan needs goldman shares to drop below 145 but more than the cost of the trade or below $140 by may expiration. but paying five bucks just to bet against the bank? >> snap out of it! >> dan, let's do this for less. >> i sold one of the may 135 puts. >> so, to cut his cost, dan sold the may 135 strike put for $2 and created his put spread. but he did something even better. he made making money easier and here's how. between the $5 he spent buyin

let's get to goldman sachs. this morning they joined the ranks of big financials reporting strong earnings for the quarter, but matt mccormack says don't be fooled by the big, glittery guys. it's regional banks that are the place to be. matt mccormack is the banking analyst and portfolio manager. he joins me now in a fox business exclusive from cincinnati. okay, why the little guy? people have been concerned about some of the regional banks lately. you're not at all. make the case. for them. >> liz, a lot of people are concerned about regional banks and the compression of net interest margins. i'm looking from the money center banks as more of a risk center because they've had strong performance. on average they're up 11% year to date through yesterday, liz, opposed to the regional banks are only up about six. so they don't have as much european exposure, they've had the ability to grow their earnings i think a little better, and i think you can be a little bit more regional, and in our camp we specialize in div

now, a couple weeks back, dan made a bearish trade on goldman sachs. the stock has since moved against him, but he hasn't lost any money. and here's why. on "options action," it's the one rule you can bank on. risk less so you can make more and that's what dan tried to do with his bearish bet on goldman sachs. dan sought goldman would stumble. >> i think it could be vulnerable. >> but just shorts the stock? >> that's living in denial. >> it sure is, because shorting any stock expotions you to infinite risk. to make a bearish trade and define his risk, dan bought the may 145 strike put for $5. now, to make money, dan needs goldman shares to drop below 14ç but more than the cost of the trade or below $140 by may expiration. but paying five bucks just to bet against the bank? >> snap out of it! >> dan, let's do this for less. >> i sold one of the may 135 puts. >> so, to cut his cost, dan sold the may 135 strike put for $2 and created his put spread. but he did something even better. he made making money easier and here's how. between the $5 he spent buyi

goldman sachs was the last large private firm on wall street. when you are a private partnership your partners? incentives are much more aligned with clients. if you do a deal with the government of libya and it ruins your reputation and people pull money from your firm, you will feel immediate pain because your capital is tied up. when these firms became public it became much harder to take ownership of the problem. i do think that it is an issue. it is hard to go back in time and privatized firms, but when they were private incentives were aligned. i think client interest was better served and banks were less dangerous because they were less big. the reason banks became public is because of this move in the late 1990s to create what i call these banking supermarkets like citigroup. in order to compete every investment bank had to get bigger by getting public funding. if we could go back in time and reverse glass-steagall being repealed, reverse the derivatives being deregulated, reverse the leverage issues, in my opinion i do not think we woul

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

goldman sachs was the last large private firm on wall street. when you are a private partnership your partners' incentives are much more aligned with clients. if you do a deal with the government of libya and it ruins your reputation and people pull money from your firm, you will feel immediate pain because your capital is tied up. when these firms became public it became much harder to take ownership of the problem. i do think that it is an issue. it is hard to go back in time and privatized firms, but when they were private incentives were aligned. i think client interest was better served and banks were less dangerous because they were less big. the reason banks became public is because of this move in the late 1990s to create what i call these banking supermarkets like citigroup. in order to compete every investment bank had to get bigger by getting public funding. if we could go back in time and reverse glass-steagall being repealed, reverse the derivatives being deregulated, reverse the leverage issues, in my opinion i do not think we woul

goldman sachs was the last large private firm on wall street. when you are a private partnership your partners? incentives are much more aligned with clients. if you do a deal with the government of libya and it ruins your reputation and people pull money from your firm, you will feel immediate pain because your capital is tied up. when these firms became public it became much harder to take ownership of the problem. i do think that it is an issue. it is hard to go back in time and privatized firms, but when they were private incentives were aligned. i think client interest was better served and banks were less dangerous because they were less big. the reason banks became public is because of this move in the late 1990s to create what i call these banking supermarkets like citigroup. in order to compete every investment bank had to get bigger by getting public funding. if we could go back in time and reverse glass-steagall being repealed, reverse the derivatives being deregulated, reverse the leverage issues, in my opinion i do not think we woul

. >> ifill: paul solman has the story of a new way to invest, as goldman sachs partners with the city of new york to keep teenagers from returning to prison. >> we believe that we will make 5% on this. and we're not doing it to be charitable, we're doing it because it's an investment. >> woodruff: and as funeral arrangements are set for former prime minister margaret thatcher, we assess the divisive policies of the "iron lady." that's all ahead on tonight's newshour. >> major funding for the pbs newshour has been provided by: >> more than two years ago, the people of b.p. made a commitment to the gulf. and every day since, we've worked hard to keep it. today, the beaches and gulf are open for everyone to enjoy. we shared what we've learned so that we can all produce energy more safely. b.p. is so committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >> bnsf railway. >> and by the bill and melinda gates foundation. dedicated to the idea that all people

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

. >> ifill: paul solman has the story of a new way to invest, as goldman sachs partners with the city of new york to keep teenagers from returning to prison. >> we believe that we will make 5% on this. and we're not doing it to be charitable, we're doing it because it's an investment. >> woodruff: and as funeral arrangements are set for former prime minister margaret thatcher, we assess the divisive policies of the "iron lady." that's all ahead on tonight's newshour. >> major funding for the pbs newshour has been provided by: >> more than two years ago, the people of b.p. made a commitment to the gulf. and every day since, we've worked hard to keep it. today, the beaches and gulf are open for everyone to enjoy. we shared what we've learned so that we can all produce energy more safely. b.p. is also committed to america. we support nearly 250,000 jobs and invest more here than anywhere else. we're working to fuel america for generations to come. our commitment has never been stronger. >> bnsf railway. >> and by the bill and melinda gates foundation. dedicated to the idea that all peopl

one from goldman sachs. heather bellini slapping a sell rating. >> this is the first time i've ever had a bellini i don't like. >> rick sherman reducing the software giant to neutral from buy, citing weakness in demand for dploebl pc shipments for the first quarter and the worst since the research firm began tracking the data two decades ago. we'll talk with rick sherlund in the next hour. >> i hope he has the glasses on. that picture is wrong. david, is it not true that anyone -- did anyone think pc sales were any good at all? come on. is this such a shocker? >> no, it's not. it is not. the gartner numbers were out last week. we did get a sense for this. but when you look at it in front of you and you think about 14% decline? that's not quite jcpenney same-story sales numbers but it is not good. >> i have to go to women's wear daily to find out exactly how bad those are. it is going to be hewlett-packard. is this the opportune time to take dell private? is this the right moment? >> that's a very good and va

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

. >> goldman sachs and black rock gained points. goldman's chief financial officer said that the clients were cautious and black rock's chief executive officer said that new business was indicative of positive momentum. black rock gained more than 1 with % while goldman sachs lost nearly 2%. >>> shares at j.c. penney jumped 5.5% today on a report that the troubled retailer is considering ways to borrow against the real estate by issuing date. jcp closed at $15.19 a share. >> and whirlpool announced a dividend increase, saying that they expect a sustained growth. all the new homes coming out will need aappliances they sell kitch kitchen-aid and maytag products. they were up better than 3% today one. >> one of the stars of the market was ww granger. it sells equipment and supplies to other companies and institutions. their first quarter improved by 13% and led the s&p 500 gaining 7.5%. that works out to $16 to $241 a share. >>> and gold prices regained a bit of their glitter today, up $26 an ounce but that is coming off the biggest on

. >> goldman sachs and black rock gained points. goldman's chief financial officer said that the clients were cautious and black rock's chief executive officer said that new business was indicative of positive momentum. black rock gained more than 1 with % while goldman sachs lost nearly 2%. >>> shares at j.c. penney jumped 5.5% today on a report that the troubled retailer is considering ways to borrow against the real estate by issuing date. jcp closed at $15.19 a share. >> and whirlpool announced a dividend increase, saying that they expect a sustained growth. all the new homes coming out will need aappliances they sell kitch kitchen-aid and maytag products. they were up better than 3% today alone. >> one of the stars of the market was ww granger. it sells equipment and supplies to other companies and institutions. their first quarter improved by 13% and led the s&p 500 gaining 7.5%. that works out to $16 to $241 a share. >>> and gold prices regained a bit of their glitter today, up $26 an ounce but that is coming off the biggest

wasn't something that was not revealed until this goldman sachs loan? >> we knew that he got roughly a 7.9% stake purchase and he did that on april 12. it is still the largest shareholder, whether he knew the financing had been lined up with a line of credit, that is up to mr. soros. david: thank you, very much adam. last week we got word that another government green energy sector is on the verge of bankruptcy. fisker karma failed on monday to repay almost $200 million in loan money from the department of energy. it is closing down operations and estimated to lose over $500,000 for every car that they sell. now there is word that the government micromanaging of the car company made a loss is even worse. we would welcome our next guest now. next, losing $500,000 per car, for every car -- that sounds like a terrible thing. is that possible? >> it is not possible to succeed, that is why they are in such financial dire straits. this is the problem when we have the government investing in things of the private sector should be investing in. we don't know ho

we'll just film it then. >>> we're keeping up with goldman sachs. a live and exclusive interview with the president and ceo, gary cohn. plus, resident goldman rock star as far as many people are concerned, the man who coined the term break jim o'neill will be on the program. as low rates kill yields. stay with us on cnbc. with fide, but we can still help you see your big picture. with the fidelity guided portfolio summary, you choose which accounts to track and use fidelity's analytics to spot trends, gain insights, and figure out what you want to do next. all in one place. i'm meredith stoddard and i helped create the fidelity guided portfolio summary. it's one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account. >>> goldman sachs asset management holding its annual growth market summit today in new york city. mary thompson is there with an exclusive. mary, good morning. >> good morning, carl. we are happy to be joined this morning by gary cohn who of course is the president and coo of go

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

people saw in this white house favoritism towards goldman sachs and the banks. the problem was the left populism has not emerged until now. for too long, many felt with the bomb in the white house that things would be sorted out. that is where movements become important. every administration in modern times has had to deal with insurgency's or movements on its left and right. reagan in many ways was a movement president. i say that with contempt for what he did in damage to this country. you need to see the pendulum has now swung. the tea party in many ways has lost a lot of this mojo because of overreach. it is out of sync with the values of so many people. we could have seen that in the summer of 2009. one of tea party people stood up and said "government, take your hands off my medicare." you see how internalized those programs are. >> who does not want to watch a car wreck? >> it has done a lot of damage. >> this tweet says the obama administration is responsible for the tea party. >> it opened a backing tree that hot summer of 2009 -- it opened up a vacuum

here is why goldman sachs may get it wrong. they say with the recent upgrade cycle, we expect the windows operating system revenue can still increase. morningstar has a price target of $35 on microsoft. they will lower the licensing fees. also, microsoft cannot count them out. you have intel coming up with a chip that they will unveil this summer which will save something like 30% of battery life which will help notebooks, as well as tablets. at the end of the day, people are not giving up pcs, they are delaying replacement of pcs. 75% were replacement in 2011. pc is not dead, we are just waiting longer to replace them. melissa: isn't the tablet contributing to that? >> absolutely. melissa: it slows down when you go and replace your laptop or your pc because you do not use it quite as much. >> absolutely. we sell pc shipments fall worldwide radical changes to user interface and microsoft windows has made pcs less attractive. this office, we still use pcs. microsoft, a lot of businesses are upgrading to windows seven right now b

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-

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

a lot of people are saying you have goldman sachs saying gold is time to get out. some analysts say we'll see gold at $1200 an ounce. you disagree with them, why? >> well, i'm not sure i disagree with them. in our last report, we have been very cautious op gold, especially given that it's broken key support levels. it's trading between 15-25 to 1800 in the last 18 months, and everybody's been waiting for if -- for it to pick up steam and move ahead. it's not. able to do it. the bottom fell from the market in the mast few days issue and i think we'll head lower from here. >> yeah, i think there's a lot of people who agree with you. is one of the reasons we are lower hedge funds bought gold, need out, and they have not liquidated? >> that's partly one of the factors. of course, we won't know for a few more weeks until the initial filings come out. there's a lot of money tied up in the physical atfs, and, of course, as people get out, especially the big hedge fund managers, that drives the market even more lower than it normally would. plus, the additional factor of m

. >> woodruff: one would be hard pressed to think of any connection linking riker's island, goldman sachs, and a private charitable foundation. but they're all part of a new way to finance government social services through private investment. the newshour's economics correspondent, paul solman, looked into the project as part of his ongoing reporting, "making sense of financial news." >> solman: new york city's infamous riker's island jail, responsible for the bulk of the city's billion-dollar corrections budget. it's home to 88,000 inmates a year, many of them regular repeat offenders. >> complete turnstile. >> solman: rockefeller foundation president judith rodin has been as despairing as most social reformers about so- called turnstile recidivism and its costs, both to the taxpayer and to society. >> these people don't get put back in prison for doing nothing, so there's all the social cost of what next crime they commit during this period and throughout the remaining periods that make them go back, and back, and back numerous times. >> solman: but in 2010, rodin heard about a new fin

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

goldman sachs and morgan stanley. which still haven't regained much of their footing and became two of the most disliked stocks in the market. at least when it comes to their book value versus share prices. did anyone, did anyone slash their forecast more visibly than caterpillar? talked about missed earnings. the largest manufacturer in the dow failed to deliver on multiple counts even as the stock seemed to reflect those woes already. heck, two of the largest food purveyors in the world mcdonald's and starbucks reported to me what looked like terrific numbers. when you dove underneath the hood, some looked weakness. weak numbers around the globe for mcdonald's. gross margin issue in china that reversed starbucks in after-hours trading. they were both laided disappointing. starbucks posted a 7% domestic same-store sales growth. both stocks are coming back now. i think that's right. but there's no denying that the quarters were panned. so now we have them all. let's go over this. what did happen? what happened to the

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

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

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

. >>> 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

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

sachs still dominate our economy here it's to help out search for the hashtag goldman on twitter the bad lands. brewer late last week assistant attorney general brewer announced that he was leaving his job at the justice department's criminal division to take on a position at the d.c. law firm of having to in burlington or berlin brewer drew the ire of many wall street critics during his time at the justice department because of his unwillingness to prosecute the banks who brought down the two thousand and eight financial crisis all earning a tidy sum of four million dollars a year brewer will now serve as covington's vice chair and according to the firm's website help clients navigate quote congressional investigations and other criminal and civil matters presenting complex regulatory political and public relations risks. and the very very ugly georgia g.o.p. chairwoman sue everhart last week was a big week for supporters of marriage equality the supreme court heard oral arguments in two cases concerning the right of same sex couples to marry and according to many reports he's poise

sachs still dominate our economy to help out search for the hashtag goldman on twitter the bad. brewer late last week assistant attorney general brewer announced that he was leaving his job at the justice department's criminal division to take on a position at the d.c. law firm of having to in burlington or c. byrd drew the ire of many wall street critics during his time at the justice department because of his unwillingness to prosecute the banks who brought down the two thousand and eight financial crisis all earning a tidy sum of four million dollars a year brewer will now serve as covington's vice chair and according to the firm's website help clients navigate quote congressional investigations and other criminal and civil matters presenting complex regulatory political and public relations risks. and the very very ugly georgia g.o.p. chairwoman sue everhart last week was a big week for supporters of marriage equality the supreme court heard oral arguments in two cases concerning the right of same sex couples to marry and according to many reports he's poised to strike down

goldman sachs closing their lungs. great timing on their part. that is the bright spot. >> check out where we offer how are the gold etfs holding up? >> what we're seeing is very, very heavy volume. that's the biggest gold etf. 65 million shares. four times more than normal. before this last week we used to do 10 million shares. same thing with a silver trust there. and you can see big drops in other precious metals like palladium and platinum as well. some other knock ones. pawnshops are gold that is worth a lot less and they are getting hit today. some of the big jewelry dmams are down now. earlier in the day we were doing fine because defensive names were holding up very well. we are 6-1 declining to advancing stocks. rsh when you see it selling off, what is the physical dynamic in the response of people who manage that etfs? >> they don't have to sell. they are moving gold from the vault where the etf is to the vault where the custodian is. >> as you know there are two sides to every trade. >> it's certainly been a blood bath for anybody goin

it is the home of goldman sachs fifth annual symposium. we have our own mary thompson there. what are you hearing? >> reporter: japan is another hot topic here at the fifth annual hedge fund symposium. a source inside the symposium said attendance is very strong with hundreds of potential clients making their way to hear from 54 of the biggest names in the 2.2 trillion $hedge fund industry. those names are all clients of goldman sachs' prime brokerage unit. they include s.a.c. capital. and others. now, essentially all of this is like speed dating. the ball field inside yankee stadium. the clients will listen and then move on to the next presentation. what are the themes broadband talked about? one asked asking not to be identified, said one is japan. with and you have stimulus being added to the economy. they talk about tech, saying these wall street's new darling, pointing out the run-up we have seen. and also talking about apple. some fund managers still defending apple, saying it is still the same company it was a year ago. this is an all-day event. earlier today the presi

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

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