we'll tell you all about it. >> lauren: ralph lauren steps down but the stock rises on the news. we'll explain why. welcome to fbn a.m., latest breaking news and what to expect for your wednesday ahead. >> nicole: we had morning -- news this morning. this comes just days after putin had meeting with president obama in new york where they layed out sharply different views on syria. the russian defense saying they established military center in iraq help to coordinate air strikes and ground troops in syria. this really show the alliance that vladimir putin has with assad. that was the tension between obama and putin. obama said assad has to go. >> lauren: yeah. let's turn to the national markets. it's been a very tough third quarter for u.s. stocks and global for that matter. all down about 9% since june. for the month of september, they're all down at least 9%. >> nicole: all here for shanghai composite. this group got crushed in the third quarter, the worst of the three, when we talk about europe, u.s., asia was the worst. >> lauren: absolutely, down 20% in many cases. european s

chief. ♪ >> reporter: ralph lauren made billions by taking risks. and staying true to his vision. >> part of this is breaking rules. is knowing the rules. and breaking the rules and making them even better. >> reporter: lauren founded his company in 1967 with a line of neckties and became a trail blazer in the american fashion industry. his brand polo becoming synonymous with classic preppy style. >> he is one of the last designers who is also the ceo of the company. there are very few of those. >> reporter: kate betts is a fashion journalist. >> i think his legry really he has created this dream, his personal idea of the american dream and he has formed it in the fashion business and brought the idea of hollywood glamour of the american west. his iconic american ideas and visions to the fashion world. >> what you thought you could buy in england, what you thought contrary graham was wearing and fred astaire, you could not walk into the store and buy. when came along, the business was not at all like this. the things i make, you could not buy. you c

. >>> icon ralph lauren is stepping aside as chief executive of his conversation. we begin this morning with a look at today's "eye opener." your world in 90 seconds. >>> two very serious weather situations. >> a system is dumping a lot of rain on more than a dozen states overnight and we are also watching joaquin. >> joaquin will come very close to the u.s. coastline. >> a georgia woman has been executed despite several last-minute appeals including one from pope francis. >> kim davis says she met with the pope during his visit to the united states. her lawyer says it was the pope who initiated the meeting. >> you shouldn't be able to criticize your wife as she makes a run to the white house. >> i help people. i love people. >> a manhunt is under way in louisiana for a man convicted of manslaughter who was accidentally released from prison. >> the president of planned parenthood and republican lawmakers clash on capitol hill. >> the conversation is worth $590,000. >> i thought the comments were pretty sexist. >> ralph lauren is stepping down. the president of the

bring your challenges. >>> ralph lauren . >>> ralph lauren is removing himself as ceo. >> ahead, why the fashion icon is bringing in new leadership for the brand he created nearly five decade ago. >> the news is back in the morning right here on "cbs this morning." announcer: this portion of "cbs this morning" spng" sponsored b a single destination. it's about everything your corolla can reveal to you along the way. the surprises you find 200 feet in front of you and all the stories hidden up ahead. there are endless destinations waiting for you to find them. discover more in a corolla. toyota. let's go places. i'll see you at home. the egg mcmuffin. made with a fresh cracked egg and real butter. only at mcdonald's. i'm lovin it. "how to find your true calling." i hear it's better to do most of your planting in the fall. what are you? a plant whisperer? maybe. now get 10% off scotts® products at lowe's. wheall i can think abouthit, is getting relief. only nicorette mini has a patented fast-dissolving formula. it starts to relieve sudden cravings fast. i never know when i'll need rel

ralph lauren, his name is synonymous with red carpet glamour. >> ralph lauren designed my dress. >> ralph lauren. >> reporter: and a collection of labels bearing his name that have come to define american fashion. ralph lauren, the man, has shaped how america dresses every day. >> in the world of fashion ralph has really been monumental in so many different ways, isn't just a brand or designer but name is so synonymous with a particular look. what americana is. you don't have to love fashion or know it but you know ralph lauren. >> reporter: it's been exported all over the globe. now a surprise announcement. the company that lauren founded 48 years ago with every decision bearing his influence is naming a new ceo to run the company. >> this has been such a family run business for so long. for ralph to step back and bring an outsider in is interesting. >> reporter: the soon-to-be 76-year-old announcing tuesday old navy's current press stefan larsson will step into the position, the appointment an urgent effort to grow the company. lauren whose company raked in $7.5 billion in sales last ye

ralph lauren up 7%. on the flip side of that, gap is the biggest loser, down about the same amount percentage-wise. >> when i was fishing in mexico, i caught a barracuda. people are throwing back cuda today. have negative things to say about the industry, they decided to extrapolate it to cuda. on the other side, enterprise software, it's enterprise hardware and its security, those are themes of what was doing well in the nasdaq that are now coming back down. i'm seeing consumer stocks trying to make a stand. restaurants trying to make a stand. industrials trying to make a stand. i don't know how long it will last. we need to see the dollar weak. >> we have an official hurricane on the way. joaquin is a cat 1. 200 miles east of the bahamas. expected to take a hard right north and expected to make landfall between the carolinas and baltimore. the consensus is growing where that might happen. you might watch a home depot over the next few days. >> home depot is doing well. that also got pulled down in the

ralph lauren shares are gaining sharply. take a look at the bloomberg terminal, i'm using the rbc function which looks at the relative value. i sorted the 25 closest companies by revenue and look at them on earnings per share. here is ralph lauren. here's the p or group. you can see that it is lagging its peers in terms of estimated sales growth and earnings. it is expected to have a graph -- drop in earnings growth. you can see it is working better here. estimators -- analysts say this fiscal year should be unchanged. you can see why it might need some change of pace. ralph lauren shares are down 37%. interesting trading that we are seeing here. pymm: thank you very much. i noticed yet something more. , with thegoing to say gem and that has been selected to head that company, is formally from h&m. it is interesting his background in going to ralph lauren which is seen more as a luxury brand. whichms of the turnaround he executed, notably old navy, it looks like that is the expertise that ralph lauren looks to be drawing on.

in the bronx in 1939, jewish immigrant parents changed his name to ralph lauren, founded ralph lauren, stepping down as ceo and brings in the head of old navy to run ralph lauren sold navy is very successful, ralph lauren himself stays and an executive role heads the design team, stephan warrants and comes in and what we are seeing here is number one loser on the isn't the is the gap. i am sorry, the guy is leaving and so ralph lauren, we are seeing a surge, number 2 best performer and the isn't he 500. stuart: that is the way it works. watch 5:00 tomorrow morning, fox business network, lauren and nicole right there bright and early, got to watch that. could the dow up again please. i know you can see it on the bottom right of your screen but i want to make a big deal out of this, the dow is up 233 points, not withstanding problems in syria with the russians and all of that, last day of the quarter dow is up 230, then we have energy, cheap as you know, it is coming, cutting jobs, what do you make of this ongoing decline in commodity prices all across the board? is it going to continue

jill wagner is at the new york stock exchange with that and more. >> reporter: ralph lauren is giving up the title of ceo at the company he founded 48 years ago. the fashion icon says he is stepping aside in november. stefan larsson, president of old navy, will take on the responsibility but larsson will report to lauren who remains as executive chairman and chief creative officer. the ralph lauren corporation generated $7.5 billion in sales last year. >>> a mixed day on wall street. the dow gained 47 points. the s&p rose 2 but the nasdaq dropped 26. >>> in washington, the congressional panel that plans to hold hearings on the volkswagen emissions scandal is looking for evidence. volkswagen admits it used engine software to cheat on diesel car emissions tests in the united states. the house and energy congress committee wants volkswagen to hand over all documents related to federal emissions standards. >>> a major tweak at twitter might be on the horizon. it is reported that twitter is about to expand its trademark 140 character limit. recode reports twitter has been looking at a long

the figures have been pretty tough as of late for ralph lauren. the most recent year-on-year revenue slipped 5.3%. but mr. larsson, old navy, he really turned around the aging brand which had gone to $1 billion worth of sales by 2008. he got them up last year to $6 billion. the market is very excited about if he can dot same thing for ralph lauren that he did at old navy. >> and, steve, i can't let you go without asking about volkswagen. seems like we're talking about it every day. says they're going to retro fit millions of diesel cars in the next few days but not in the united states. why is that? >> yeah, there's the problem. 11 million vehicles, they're going to start retro fitting these. unfortunately the states which are normally so far ahead of these things is going to be way behind. this is apparently the wa-189 diesel engine, your guess is as good as mine, there were three different versions in the states. it's not just going to be a software refit but could involve some hardware being refitted to the vehicles as well. plus they have the

like a ralph lauren. the ones that will win are the megacap names with distribution and the ability to get some sales generated through amazon. i think amazon will start eating the lunch of macy's and ralph lauren and i say for the long-term is still in a very difficult position. >> a number of upgrades in today's session so we asked the traders to grade the upgrade. let's kick it off with mcdonald's. a comp sales trend starting to turn higher. steve, what do you make of that? >> in a relatively short period of time, since march, i give him credit, he's working to get a business plan to work and get the momentum going. the stock is performing really well. i want to see more before i jump on board here. i give him a "b" for his rating. i know they have an analyst day on the 10th. i don't think there is anything shocking coming out of that. that will be a needle mover for the stock. people want to see a meaningful sales turn. that is what i wan to see before i jump in head first. i think it will grind up. $

stephen: this is ralph lorenz -- ralph lauren. he will stay on as chairman. the new chief executive is arriving as a -- at a difficult time for the ralph lauren brand. >> an american icon bows out after five decades. inph lauren set up shop 1967, selling ties. his empire is currently worth $9 million. his version of country club chic and anonymous with a preppy polo cup shirt. his net quarter profit down is 5% -- his net quarter profit is down 5%. his choice to succeed him is an outsider, 34 years younger. he has steered cap's old navy division to success. he has been with h&m as well. that could prove crucial as ralph lauren is being hit with heavy discounting by rivals. in october. turn 76 he says he is still excited about the business and is not leaving. he will remain a thing of chairman and creative chief. stephen: more business headlines a fine of $105 million for gm -- forthe united states, fiat chrysler inside the united states. trying to buy the electronics chain for more than 700 billion euros. the board is considering the proposal. shares of the co

lauren is stepping down as ceo of ralph lauren. he'll be a big part of the business leading the design team and serving as executive chairman but stefan larrson will take over the job. shares traded at 602 this morning but they're up 4.5%. >> big question, what's going to happen that. they have always been a luxury brand. does he try to move them upscale or down scale? they spent an enormous amount of money trying to move more upscale. but the polo business is one that actually you could potentially move down scale but then what does that do -- >> on a subsidiary note, this morning, shares of gap which owns old navy cut to sell. price target cut to 25. the stock is at 30 because larsson is leading. >> old navy has been one of the best -- >> one of the last things with value. and then there's david lauren who will still stay at the company who i know. people thought he might become the next ceo but the question is what will happen there. >> ralph is busy running his restaurant empire. >> another stock to watch this morning, barracud

ralph lauren the man has shaped how america dresses every day. >> in the world of false, ralph has been monumental in so many different ways. even the brand or the designer. the name is simonnous with a look -- synonymous with the look. >> it has been exported all over the globe. now a surprise announcement. the company that lauren founded 48 years ago with every decision bearing the innuance is naming a new ceo to run the company. >> this has been a family run business for so long. for ralph to step back and bring an outsider in, it's interesting. >> the soon to be 76-year-old announcing that old navy's current president will step into the ceo position. the appointment an urgent effort to grow the company. lauren's' company raked in $78.5 million in sales maid an immaterial print on the fashion world. even designing american uniforms for multiple olympics. >> everything have done has been for the emotion. never for a brant or a label. >> fashionistas, fear not. he will have a role at the namesake company as the executive chairman and chief creative officer for the monumental brand. >>

you see is ralph lauren itself. -- blue dot you see is ralph lauren it self. peersee it lagging peers, -- this is the s&p 500 here. you have the v.f. corporation which has been outperforming in both estimated earnings per share and sales growth. you can see why it might need a change of pace, guys. scarlet: big breaking news in the last hour involving twitter. twitter's interim ceo, jack dorsey, will become the permanent ceo. rico said an announcement on this could, soon as tomorrow. shares have really been rising today as a result of this on this relief that perhaps now we will get some stability at the company, if you look at the intraday chart of twitter, you see -- you see the big spike we had this year has come back down to some extent. let's go back to that terminal chart. this is year to date for twitter, the stock is down 27%. and want to take you through step by step what we have seen happen to the stock for the year. the company cut its sales forecast and that caused a tumble in the shares. a big tumble in the shares at that point in time. down in th

. >>> and ralph lauren without ralph lauren, why the famed designer is stepping down as ceo and what some are saying a surprising choice to replace >>> coming up, why the supplements you take to boost calcium could be doing nothing to improve the health of your bones. >> and one dad's wedding surprise for his daughter and her stepfather, touching hearts around the world. even touched matt lauer's heart. >> i cried. >> he it's our song... yeah, there you go... wait! oh, no! there are thousands of ways into the complex health care system. and unitedhealthcare has ways to make the system simpler. like virtual doctor visits. what happened here? i came in too hot. [music] defiance is in our bones. new citracal pearls. delicious berries and cream. plus vitamin d. only from citracal. craving the taste of chocolate but watching calories? introducing light & fit greek with chocolate on top. so chocolatey good... you won' t believe it' s 100 calories. try new light & fit greek chocolate on top. is your head so congested it's ready to explode? you may be muddling through allergies. try zyrtec -

that's not ralph lauren. i come back and say do you know who the biggest seller of ralph lauren is? tjx. >> parent company of tj maxx. >> second biggest seller, macy's. >> it's a mass market retailer. with a great image. that's a hard thing to do. people are crushing the gap. >> rightfully so. >> why you're here, there are 15 retail stocks hitting multiyear lows. you think one of them is well deserved. dilla dillard's. why? >> the one i picked was dillard's because they bottomed at $4 after the recession. they peaked at $136. and from 1988 to 2008, i describe think them as being asleep and having woken up and fixed the company. they quit doing things that were bad. >> i think you're making the bull case. ja th ja. >> they closed stores, improved the product. did all those things and the stock reflected that. and now the game is over. and i don't see what the second act is. they're not strong in omni channel retailing online. they're not opening off price. they're not driving a business that's going to have something to drive forward sales levels. >> on the flip side y do macy's and

the president of ralph lauren just stepped down last november. joe: tomorrow we get the employment change, a preview to the jobs report. everyone w >> google is firing back with two new phones. , in for emilyon chang, and this is bloomberg west. creating "gool yo 90," but can they really compete with finance no fine and snapch? a car company

. >>> a new ceo is named for the ralph lauren clothing company. >>> later, a surprise swarm traps a police officer in his patrol car. news." here's a.are of what makes you, you. right down to your skin. aveeno daily moisturizing lotion with 5 vital nutrients for healthier looking skin in just one day. aveeno . >>> police cars in oklahoma were covered with bees after a truck accidentally spilled crates containing millions of bees on the highway. sheriff's deputies shot video tuesday from inside their patrol vehicles surrounding by thousands of honey bees. the fire department sprayed the bees off the hood, so they moved to the back of the vehicle. traffic was backed up for miles as bee keepers cleaned up the mess. >>> on the cbs "moneywatch" the latest buzz on the powerball jackpot and jill wagner is at the new york stock exchange with that and more. >> reporter: ralph lauren is giving up ceo of the company he founded 48 years ago. the fashion icon says he is stepping aside in november. stefan larsson, president of old navy, will take on the responsibility but larsson will report to lauren w

shares of ralph lauren are winning following the news that ralph lauren himself is stepping down as ceo of the company that bears his name. he must stay on -- he will stay on at the company. his successor has been running gap's old navy brand. investors hope you will help boost the brand ashok he will help -- investors hope he will help boost the brand. results from the probe are expected at the end of november or december. eu trade ministers will hold their first discussions on the volkswagen scandal on thur sday. twitter shares are higher following reports that jack dorsey is about to be named twitter's permanent ceo. he is a cofounder and has been running the company on an interim basis for three months now. dick costolo resigned in june. twitter has not commented on the report. switzerland is the world's most economic -- most competitive economy. the rich and powerful gather in doubles -- in davos. the world economic forum looks at 12 different factors, government, education, and infrastructure, for example. the rankingp1uvvóxóxóxóxñaw=>7 09/30/15 09/30/15 [captioning made po

>> and ralph lauren is no longer going to be the ceo of ralph lauren? >> it looks like ralph lauren is stepping aside as the ceo. >> that's big. >> he is -- >> still have a pretty big hand in the design. this is news just crossing so we'll have to do a little more information digging to get the full story there, but that is the headline. >> he is human, you know. he's not going to live forever. >> you know, for the founder to step down from such an iconic -- >> it's a big deal. >> incredibly successful fashion brand, because most fashion brands go bust because the minute you're ubiquitous nobody wants to wear you and your stock price declines. he's managed to retain that. >> diversifying the company. >> musical chairs in the retail sector there. >> thanks, courtney. >> see you later. >> etf assets have declined by more than 2% this year with a total of $149.2 billion flowing into equity funds and some saying a lack of liquidity in the space is the next big worry for etfs. >> let's talk about that. joining us is matt hogan the ceo of etf.com. i mean, we

ralph lauren stepping down as ceo. empire that he built. natalie? >> yeah. he is an icon, of course, of the fashion industry. his brand, one of the most recognized in the world, but after nearly 50 years ralph lauren has decided to hand the reins to a younger, edgier successor. when ralph lauren's runway show came to a close at new york's fashion week earlier this month no one knew it was the end of an era. lauren, known around the world as the ambassador of american style, announced tuesday that he is stepping down as ceo. handing over the reins of his $9 billion fashion empire to stefan larson, the president of old navy, credited with reviving that brand and boosting its sales. >> stefan larson has had a stellar track record taking other brands onward and upward, and i'm sure he's going to carry on the ralph lauren legacy. >> reporter: lauren's son david seen by some as a potential successor was bypassed for the company's top spot. as for ralph la matt. morning. be completely out of picture, staying on eakstive chairman and chief creative officer. he says

look at shares of ralph lauren. the stock is now up over 4% after-hours. this is may or may not be reaction to the news that ralph lauren himself will be stepping down as ceo his company after 48 years at its helm. this news had been leaked out he would be leaving so maybe it is buy on the word of the news. stefan larson, by the way, global president of old navy, stepping into the chief executive position. for whatever reason the stock getting a nice pop after hours. >>> tax the rich and give to the poor. that will fix income inhe quality. that is what a lot of liberal activists and politicians say but a new report from a former obama official of all people says, not so fast. you don't want to miss this one. >>> wall street coming out swinging in the grocery wars, a brand new services, making a big bet to beat out its competitors. that's next. ♪ special olympics has almost five million athletes in 170 countries. the microsoft cloud allows us to immediately be able to access information, wherever we are. information for an athlete's medical care, or infor

ralph lauren is giving up the title of ceo at the company he founded nearly 50 years ago. lauren is not leaving his company completely, though. he'll remain as executive chairman and chief creative officer. the president of old navy will take over as ceo in november. >> boy, he just had some great -- a great run over there, ralph lauren. great visionary. i love their clothes, i have to say. but they never retire, do they? >> they never retire. they hang on and there's no way he can let go of that brand that he's been with. >> i hope he hangs on because i've liked the revolution -- the evolution of it. >>> well, turning now to our phones, many of us feel we can't live without them. while that might be true, one thing's for sure. we can't live without each other. >> yes. and as abc's dr. richard besser reports, it's something we know very, very well. so why don't we put down our phones and simply just talk with each other? so what i was saying was -- >> reporter: our technology keeps us constantly connected and plugged in. >> hey, jake, you want to pass the salt, please? >>

anyways meet the new boss at ralph lauren. the fashion industry sees one of its legendary figures decide to step aside. let's get out to landon dowdy. >> ralph lauren that built a fashion power house based on luxury designs is stepping down as ceo of his namesake company in november. he founded in company in 1967 named the head of gap's old navy division to the top job. lauren will stay on as executive chairman and head of the design team. larson will report to him. lauren's empire includes more than 20 brands. his iconic polo shirt debuted in 1972 becoming a signature item for the company. it is expanding it's luxury and online business. revenue fell 5%. the stock is down about 40% this year. larson is credited with reviving sales at old navy. sales of the division rose 8% last year. he previously spent 15 years at h&m where he was global head of sales. he leaves his role at old navy on friday. he's being replaced by jill stanton on an interim basis. the search for a new president is already underway and this is just the late

ralph lauren is up 9.5%. the 75-year-old founder stepped down as chief executive and was replaced by stephan larson who headed the gap old navy unit. 8% in the are down wake of his departure. let's talk western digital, up 14.5%. it agreed to buy a 50% stake from the disk drive maker for $92.50 per share. that prizes 33% higher than yesterday's close. in othereing gains disk drive company memory companies. seagate technology is up 6.6% at the moment. you also have a gain in sandisk which makes memory chips, up 5%. fiat/chrysler is up 5%. they may have a public offering as far as friday. the ipo price may be set the week of october 12. advance auto parts is up. stake.ue disclose a 3.7% tom: one more. >> how about rents track? it accepted a takeover offer c fromom score valued at $800 million. the combined company will be a rival to nielsen holdings. up but nielsen is down in early trading. the decline amounts to 1.6%. can you getlse these comments on the markets and clarence clemons? michael: we have to ask tr

>> when you think of versace, ralph lauren, it seems like it's far away, it's a dream. somewhere where you would like to go. and those people could care less about you, you know. but it seems like, if i can grab that and wear that, like i'm living a fantasy. >> tommy hilfiger would show up in the hood and open up a trunk with, lie, clothes and tantamount to it was like -- it was like the drug dealer giving you a free hit. then you're like, i want more. verizon now has one simple plan. just pick a size. small, medium, large and extra large. if you need less data, pick small. if you need more, go with extra large-- a whopping 12 gigs for $80 a month plus $20 per phone. pick a size. change it up anytime. it's the simple way to get the best network. and now, get $300 when you switch. only at verizon. but i've managed.e crohn's disease is tough, except that managing my symptoms was all i was doing. and when i finally told my doctor, he said humira is for adults like me who have tried other medications but still experience the symptoms of moderate to severe crohn's disease. a

ralph lauren corporation created $7.5 billion in sales last year so big business here. erika and nicole good such an iconic american brand and founded 48 years ago, he looks amazing. >> he looks about 48. good interesting stuff. >> jill, thank you. >>> coming up, we will get a check of weather and traffic. >> we will be right back. >>> let's check the roads with meisha. we have wet roads today. >> wet roads can mean a lot of problems, so give yourself a couple extra minutes. this is one of the area, good morning by the way, happy hump day to you. we have flooding in malvern, 202 northbound between route 30 and 401. various rains are flooded so make sure that you are in the malvern area to give yourself a couple extra minutes. you can see flashing lights. clean up crews are trying to get this cleaned up. patco is running on a special schedule today and tomorrow for those taking speed line. clean up still on the parkway still blocking between 20th street and eakins oval. that is the inner drive that is still, still block for those of you in and around that area flooding o

ralph lauren. no kidding polo player. rosanna: a good polo player. people want to have him play all over the world. greg: as long as he is on a horse, he is okay. more on that in a little bit. welcome back to "good day new >> great to be here. greg: two matches to one. we can go to the videotape right now. greg: important issues. rosanna: a very important time for women out there. >> ralph lauren breast-cancer awareness campaign. this month, there will be a midnight romance. 100% of the proceeds will go to the foundation. rosanna: 100%. greg: 100%. rosanna: just give me a little script. >> we go. greg: that is for you. rosanna: do you put it up in the air? >> it is whatever you prefer. greg: i saw that in a movie once. all right. today. at macy's. i would love to be there. are you inviting me? >> i am inviting you. >> go-getter videotape. greg: we have played polo on the hippity hop for him. this goes back a couple of years. i think we had four matches. there have been some matches where i have held my own. i believe you have won three i have 11. >>

ralph lauren, polo disappeared. you're talking about company that is are able to establish themselves in a society when african americans were discriminated against, economically in business and such. in order to have -- i mean, levis has been around for how long? forever. unfortunately, they've not had the staying power. depending on the flavor of the day, we wear it, but we put it in a different distinction. i think that has a lot to do about different discussions. distinctions in class and race. brands are identifiers as to who we are from head-to-toe. it's almost like the grass is greener on the other side. >> what do you know about this coat? >> everybody wants that coat. >> i don't feel safe wearing it. >> this coat right here? >> people rob people for these coats. they're expensive. a lot of the main, tough areas. >> good evening, everyone. i'm joe torez. >> just a short time ago, police charged 16-year-old corey dunton with attempted murder. >> sources say it all started over a fight over a coat and ended wi

. >> ralph lauren got a big pop on news of the ceo stepping down. so what other stocks could drop down. the traders are handing out their pink slips. "fast money" starts right now. i'm melissa lee. the traders are pete najarian, david, dan and guy adami. a good thing for tech stocks and we'll explain. and twitter close to making jack dorsey kae but the board that is in need of change. bob tech will be here to name nam names. >>> and the top story, the third quarter in the books. a rough quarter as the major indices all rally. down 7%. the question tonight is simple. what are you doing for the fourth quarter. guy adami, what do you say. >> two names stick out like a sore thumb. facebook and goldman sachs. and goldman sachs reports on october 15th. that stock has been bludgeoned with the rest of the financials. i can tell you kata gorive lick i think they'll report a record quarter and the stock will trade in kind. and the sell youft has been so much that goldman sachs i think will rally off the quarter. and facebook to me has held in relatively well.

steve: ralph lauren taking workout wear to the next level. alison: we'll show you the new smart shirt that can revolutionize the way you stay fit. steve: and the drone crash at the u.s. open had us remembering the time a parachuter crashed the world series. we'll hear what the so everyone is saying, "hey! you gotta get fios!" but why? well, fios is a 100 percent fiber optic network to the home, so you can get access to the fastest internet and in-home wi-fi available. too. so everyone in the house but the main reason to get fios? we're rated number 1 in customer satisfaction. get 50 meg fios internet, $79.99 a month. hurry, offer ends september 19th. get out of the past. get fios. until morning. so i'm one of many nurses at cigna with answers, anytime, day or night. i'm lauren, and i've got your back. mmm yoplait! it's snack time! oh, look! yoplait original now has 25% less sugar. time to taste it. how is it? it tastes good! congratulations yoplait! you did it! yoplait! steve: last night's drone invasion at the u.s. open got us thinking about

eat fresh. >>> iconic designer ralph lauren is stepping down as the ceo. the 75-year-old founded the company 50 years ago. he plans to stay on as executive chairman and quote actively drive the company's vision. replacing him is stephane larsson a former executive of h & m and president of gap's old navy. >>> it was a loss in the market. nasdaq fell 26 while the s & p added two. the markets are poised to close out september with the worse quarterly performance in four years. >>> california's two senators are calling on president obama to exonerate the black sailors known as the port chicago 50. an explosion at the port chicago naval base killed 220 sailors most of who were black. they were loading the munitions on ships. a number of white officers were given leave but the black enlisted men were ordered to return to work. they refused arguing conditions were unsafe. 50 of those sailors were charged with mutiny. senators barbara boxer and dianne feinstein says this wrong should be righted and they are asking the president to exonerate the men. >>> edward sn

. >>> iconic fashion designer ralph lauren is stepping down that as ceo president will still remain. stefan larson will remove and had to make h&m a retail power house before that. ralph lauren will still help oversee the company as executive chairman and chief creative officer. >> binge watching while you fly just got a whole lot easier. passengers can enjoy access to netflix's entire library of tv shows and movies. you'd have to fly around the world a few times. >>> the airlines will make free high speed wifi available. passengers can then sign up for a 30 day trial or log into their existing accounts. for now, the special wifi will only be available on ten. >> a third steam greeted google's main page today. this, of course, in response to nasa's big announcement yesterday that they believe they found evidence of liquid water currently on the red planet. >>> students in richmond are putting aside their textbooks and putting together some cutting edge technology. >> abc 7 is looking making it a reality using laser cutters and 3d printers. >> instead of just learning in the classroom

jennifer: ralph lauren taking workout wear to a whole new level. the brand-new smart shirts that could revolutionize how you state that. jennifer: and bringing out the most rabid "star wars" fans tonight. what has them this fall at dunkin donuts, get lost in pumpkin. pick up your favorite pumpkin-flavored beverages and baked treats, like the new pumpkin cheesecake square, while they're still here. america runs on dunkin'. switch now, new york and get installed as early as today. mom switched. we switched. i switched to time warner cable and knew exactly when they were coming. appointment window. for $89.99 a month, you'll get channels, and unlimited calling to the u.s., puerto rico, canada, mexico, china and india. and for a limited time, you could get a $300 reward card plus tv equipment and epix included. as today. call 1-800-341-9716. good morning. what can i get for you? a medium hot coffee, cream and two sugars, please? medium hot coffee, cream, two sugars -- sounds good. at dunkin', we make your coffee just the way you like it. if not, we'll

you have you know, ralph lauren thinking about integrating a heart rate monitor into the shirt itself. they're coming togher and really coming up with really stylish clothing that people will want to wear. >> you know what i can see? i can see the gyrocopter guy, the next one will be the fashion designer who flies into the capital. be careful, washington. >> if i see a date show up with that. >> this is sexy, come on. >> this part is a party. that part is just construction. >> this part is framing the wearer i think. >> love the concept. trina trinh, thank you so much. >> everything that you guys. >>> coming up, much more "world news now." hey buddy, let's get these dayquil liquid gels and go. but these liquid gels are new. mucinex fast max. it's the same difference. these are multi-symptom. well so are these. this one is max strength and fights mucus. that one doesn't. uh...think fast! you dropped something. oh...i'll put it back on the shelf... new from mucinex fast max. the only cold and flu liquid gel that's max-strength and fights mucus. start the relief. ditch the misery. let's

stefan larson will take over for ralph lauren. he's current president of old navy and he starts in november. >> certainly a fashion legend for sure. >> yes, i hope it stays on track with just how it is now. >> absolutely. >> beautiful weather, might be able to fet away with a little janet. high clouds continue to stream across and the possibility of a few showers coming up in my microclimate forecast. years, tonight's the night for some lucky "soon-to-be" >>> after a wait of nearly two years tonight is the night for some lucky soon-to-be tesla owners. they will sit in the driver's seat of their new model "x" and drive it right off the lot. our business and tech reporter scott budman is live at tesla's plant in fremont where the company is getting ready to release the suvs with fanfare. scott. >> reporter: yeah, big night for tesla and tesla owners, janelle. welcome to tesla headquarters where we're surrounded by model ss and roadsters and soon new tesla on lots and bay area roadways. the suv that will roll out tonight. this is int

. >>> there's a new head at ralph lauren. stefan larson president of old navy is taking over. ralph lauren stepping down in november as the ceo of the fashion empire that he founded 48 years ago. he will still be driving the company's vision though. he is staying on as chief creative officer >>> twitter thinks that you have more to say than just 140 characters. the social media site is building a new product for longer tweets.-- it could be risky. thethe 140 character has been in place since the founding of the company. >> short and sweet. >> netflix has an idea to make binge watching easier? >> because binge watching is so difficult, right, they have come up with the switch. it's a single button that gets you ready for a into the binge watching. it turns on your tv, flips on net flicks, dims the lights, act votes your phone to do not disturb mode and can even order you a pizza. >> sounds nice. >> thank you, jill wagner of cbsmoneywatch.com. >>> 5:39 right now. listen up, there's still at least one bay area city where you can buy a house for less than 300 thousands. we'll show

. >>> on wall street, stock of ralph lauren jumped after the company announced a new ceo. ralph lauren is stepping down of the fashion and home decor empire that he created 50 years ago. the new ceo is stefan larson, president of the gap. the change take effect in november, but lauren will continue to lead the company as its chief creative officer. >> would you use twitter if you could make longer messages at a time? the company is spearheading a project called 140-plus, it would create options so users could send tweets that exceed the current limits and current handles are not include in the account. they're trying to attract new users by making it easier to use the site. ♪ ♪ >>> i'm mark segraves. we're just outside of macon, georgia, where this looks like a catastrophic building collapse, but in fact, it's a simulated earthquake. first responders, search and rescue cre country including maryland task force 1 are here for five days of around the clock, 24-hour training and they'll be training inside these buildings doing high-angle rescues from on top of the buildin

comp it out to ralph lauren and coach trading three times book. apple trading five times book. deirdre: you're saying all about design and not as much about hardware? >> the idea is, there is no innovation. if you look at fireeye, which is high flying technology company, they spend 41% of their revenues on. are and d. apple spends 3%. i'm in the state of missouri on the stock. show me, show me something new before i get long and loud. deirdre: jonas, what do you think about this point of view? a lot of people are pointing out now the app developers can work right off apple tv? there is this idea that apple tv will be much more than it is, streaming in all kinds of ways. 3d touch setting it up. >> i will run off, the negatives you brought up seem like positives to me. if it race brand, it is worth more than a tech stock. samsung could have cooler technology and, if you have a brand you are worth more because that is more defensible than innovation in technology area. >> ralph lauren brand is three times book. this is plus five. >> earnings multiples it is cheap to apparel stock

lauren. old navy has been the big winner for gap over the past year while the flagship chain and banana republic have seen weakening shares. gap down 6%, to its lowest point for the past year. the job market continues to firm up. private payroll tracker adp reports a gain of 200,000 jobs in seat. that's stronger than when it reported for the month of august. the labor dew point delivers its report on friday for september. economists looking for a gain of 200,000 continuing the strong trend over the past couple of years. tesla debuted the model x last night in fremont. top signature model going for $144,000. investors pretty excited about a new model for the company. shares in tesla flat this morning slightly lower. stock is up over the past several days in anticipation of the model x debut. stock market is rallying this morning. we saw a mixed market yesterday still some struggles for the nasdaq. this morning, though, the dow up by almost 200 points. nasdaq gaining 75 points. and s&p up by 25

. >> no, doesn't it look like a a ralph lauren ad? i should say a jessica simpson collection ad. >> jimmy: that's what i meant. yeah. hello, yeah. ralph lauren, please. >> that's fine. >> jimmy: how cute. and she loves it and gets it? >> yeah, and she just wants to go faster and faster and faster. and we're just trying to keep it at a trot. and i don't even know if that's legal for a 3-year-old. but -- >> jimmy: yeah, i don't know. i have no idea. i don't know -- >> but she is wearing her -- she's wearing her first heels, which is very impressive. she's like, like mama. >> jimmy: hilarious. i saw this picture of you -- >> i won't get on a horse. >> jimmy: you won't. >> no, i have a huge fear. >> jimmy: really? >> yeah. i know, i'm from texas and everyone thinks i ride a horse, but i don't. [ light laughter ] >> jimmy: you don't. i want to be at one with a a horse. when i see a horse, i stroke its hair and i go, we're cool. >> oh, that's good. [ laughter ] >> jimmy: don't have to worry about riding. then i see pictures of you like this