if you need me. and that was samsung's ad taking a stab at the apple i phone and its customers and the patent war between the companies samsung has also hit back suing you could say is in retaliation to a prior apple suit claiming the i phone five infringes on its patents now it's not the only one taking a stab at the consumer products giant it's been touted the largest most valuable public company of all time by some calculations we'll talk to analysts reggie middleton who apple's next development will be this i bubble was a long as mortgage task force has finally wired the new york attorney general is suing j.p. morgan alleging widespread fraud by its bear stearns unit in the sale of mortgage backed securities back before their around the financial crisis will discuss the impact and thousands of millionaire households in the u.s. collected unemployment insurance in two thousand and nine this is according to the congressional research service so who exactly counts as unemployed anyway but we're down with the bureau of labor statistics considers it and word of the day let's get to

for show or maybe not this time time next. i was again comparing to samsung which ridiculed apple in that last ad and that companies have been going back and forth with litigation and kind of patent war but samsung is not the only one who has become more bearish on apple in fact entrepreneurial investor an analyst reggie middleton who nailed facebook by the way he did so on this show has been raising concerns about apple he is back back to tell us if he thinks apple's next big development will be what he calls i bubble or i pop event so first reggie middleton welcome back to the show thank you so much for being on today you very welcome to be that great we always love to have you and you know you totally nailed facebook you were out before the i.p.o. saying hey this thing is way over valued now you're out talking about apple and uttering words like i bubble i popped posing questions such as is apple poised to collapse this stock market argument and how is apple one company poised to do that kind of damage ok well it could explanation apple is a very strong company when i comment on a

big sell-off today in apple shares. investors dumped the stock for the fourth straight session on a long list of concerns. they include backlash against the map app and labor strikes at an iphone assembly plant. apple tumbled more than 2% to $635 a share. that level means it's now officially in correction territory. erika miller takes a closer look at whether the decline is a warning sign or a buying opportunity. >> reporter: apple shares have gotten bruised due to a host of concerns. at the top of the list is worry about long-term demand for the new iphone 5. yes, apple sold five million of the devices on its opening weekend, but that was below some analysts' rosy forecasts. and apple's star product has been criticized for scratching easily, camera haze, and an inferior map ap. >> i'm not sure that it will translate into more consumers buying android operating systems devices, but at the minimum, it's causing them to hesitate to upgrade their operating system, which isn't good for apple. >> reporter: it's also not good for apple that there has been labor unrest at a chinese facilit

investors-- they dump apple shares. >> tom: i'm tom hudson. microsoft's windows 8 makes its official debut. from the desktop to the tablet, microsoft says it works seamlessly across all computers. >> susie: and going up-- why there's a construction boom of rental apartments in the nation's capitol. >> tom: that and more tonight on nbr! >> susie: investors soured on apple tonight-- the stock tumbled as much as 2%, dipping below $600 in after-hours trading. a rare earnings miss was the reason. the lower than expected numbers came just days after all the hoopla over apple's launch of the new ipad mini. apple earned $8.67 a share, eight cents below estimates. revenues came in higher than expected, almost $36 billion. on top of that earnings disappointment, the company gave a less rosy forecast for the future. suzanne pratt takes a closer look. >> reporter: wall street called this a throwaway quarter for apple. after all, the iphone 5 was only available for one week during the period, and the newly launched ipad mini has yet to hit stores. still, apple sold nearly 27 million iphones during june

theme all this hour. it has been a wild ride for monday until today. all the way from apple to yahoo!, actually until zynga. literally a to z in technology. we are pleased to have editor-in-chief and ceo of business insider join us, he'll be here for the hour to help us make sense of all that is going on. we're also trading all the big movers today with guy, pete, the better looking, john, and steve -- >> thank you -- >> that's right. >> thank you. >> wait a minute. >> getting to the battle of the technology titans startsing with the letter a. amazon and apple reporting disappointing earnings. stocks aren't offering an opportunity to buy through the dip, though. amazon a little higher on the day. apple holding above 600. so what is the better value right now, amazon at 97 times earnings or appellate maybe a little over ten times earnings -- or apple maybe a little over ten times earnings? henry? >> apple did have a $100 dip leading into the earnings, so we are down. that apple's profit margin is threatened, into next year people are looking at that, they'relooking at the margin comin

on apple. my observation returns tomorrow. thank you so much for joining us on "the closing bell." hope you'll follow me on twitter and google plus. have a great night. see you tomorrow. but wait. "fast money" begins now. >>> live from the market site in new york city's times square, i'm melissa lee. our traders are standing by ready to break down all the moves. cnbc's jon fortt courtney reagan will bring you all the latest developments. but right now let's kick it off with apple, the stock recovering off the post-market session lows. but it is still trading lower at this point. big disappointments, particularly when it comes to the forecasts for the fiscal first quarter. >> that's what struck me. it was the guidance for the next quarter. i mean, the street was looking for i think $15.75. they came in with an 11 handle. and revenues were light as well. they're historically a bit of a sandbagger and maybe the reaction to that in the after-market is because the stock is down about 100 bucks since that 7 handle we traded a couple months ago and maybe this has been the anticipation t

we get ready now. two very important earnings reports. amazon and apple set to report. they'll definitely set the tone for tomorrow. you'll get it coming up with maria bartiromo and the second hour of the "closing bell." see you tomorrow. >>> and it is 4:00 on wall street. do you know where your money is? hi, everybody. welcome back to the "closing bell." i'm maria bartiromo on the floor of the new york stock exchange. the major averages staging a late day rally today. take a look at how we're settling out on this thursday afternoon. the buying coming in just in the last 20 minutes of trading sending the industrial average up to 13,104, a fractional decline there. 27 points higher, about a quarter of a percent. nasdaq also higher, reversing early losses. and the s&p 500 tonight also up four points. a third of a percent at 1413. investors now waiting on a pair of big earnings news that are coming out. apple due out in about a half hour. amazon's earnings could be released any moment right now. $13.81 billion in revenue is the number for amazon for the quarter. just coming out ri

mentioned expedia and apple. everything could change in the next hour. obviously if they beat expectations you can expect to see a bump for apple but all the indices are in the green. that is good news. not wildly so but solidly so. dow jones of 27. the s&p up 4.2 and the nasdaq up a fraction and the russell 2,000 not doing that at all. small and midsize caps up 0.38%. liz: look at auto dealers. we wanted to pick this out because they are the big losers. on row nation seeing the biggest decline since january. it reported a 15% rise in earnings, missed and with expectations but they beat a lot of records. crewon automotive moving in reverse despite record profits. record profits moving down because they failed to meet expectations. the analysts got a little bullish. both are showing double-digit gains. stock look good. dave: would you buy the debt on the stock? they are buying on the dip. gold testing its $1,700 low. as soon as it hit the 1701, i think it was 1701 it took off again. it is not a tremendously but significantly off. a lot of people were looking at 1700 as the base

>>> this is "options action." tonight, apple saver. how would you like to get your money back in apple stock for free? he'll show you how to get your money back, too. >>> and too hot, no, not those guys. these guys. that's because they are teaming up for an options strategy that could triple your money in ralph lauren in two months. they break it down. why were the options traders buying this book? it's a page turner only scott nations can explain. the action begins right now. >>> live from the nasdaq market site, i'm melissa lee. the earnings drubbing continues here in times square. all three major indices finishing in the red. there is one stock catching the attention of options traders, that is netflix, having a late day rally, the move is followed by call buying in the pits all day long. options traders saying it is going higher. the speculation is some type of deal with microsoft might be in the works. herb greenberg is at his desk in englewood cliffs. what do you know? >> i have a bridge to sell you if you believe that rumor. neither microsoft nor netflix have any comment o

cashmere turtle neck to the orchard? you can't do that. on the airplane, i am trying to learn the apple business. i have my files like a reporter. i realize i am treating my brother as if he was a source. i just wanted him to like me. i wanted to impress him. i had to do that little sister thing. the first rule was, put yourself into their world. the second part of this was understand how difficult it is and don't wait for a crisis, because the fact is, if you have this strange relationship with a sibling, you are already in kind of a crisis. you may not recognize it and maybe comfortable and okay with it, but it isn't perfect. the best predictor of happiness and long term happiness is to have good relationship s with your family and friends. the 3rd aspect is try to see your sibling as they are not as you would like them to be. going to the apple country was huge for me. again, i am embarrassed to say, 15 years i had never been once with. this is a lunatic thing my brother is doing with these apples. when i sailed down this huge area of fruit country, imagine after 9/11, apple country

decline, 1.5% and apple has a lot to do with that and we'll talk all about that. here is what else we're following on halftime today, machines gone wild. how a mysterious computer program is dominating trading activity and what it says about man's diminishing role in the markets. bracing for earnings, the outlook is ugly and will the numbers really be that bad? can the rally survive if they are? first, our top story, the apple correction. the stock officially down more than 10% from its peak in late september. that slide is raising questions about whether america's most loved and valuable company has suddenly lost its mojo. we're trading the pullback with joel terranova, josh brown, mike murphy and gema godfrey and he hedge fund manager doug cass. the stock that could do nothing wrong suddenly can't get a pop. >> yes, i think there is three reasons. one, market, two, technical, third, the issue of first mover advantage. i think firstly when everyone has gotten finally comfortable with this huge disconnect between weakening corporate profits and improving stock prices and continue a

business economists shows the economy will need more than the apple effect to get moving. ruben ramirez reports from new york. >> reporter: next year the economy's expected to look a lot like this year with slow and tepid growth. that's according to an influential group of business economists. with g.d.p. slightly below 2% this year, the n.a.b.e. expects growth next year of around 2.5%., improving to 3% in the final quarter of next year. >> when you look at the growth for the u.s. economy since the turn of the great recession it has come in at roughly a trend rate of growth. we should be doing much better than trend because of all the pent up demand that was created during the downturn. >> reporter: but without job growth its hard to get people to spend. companies are expected on average to add just 155,000 jobs a month. and, the unemployment rate will likely hover just below 8%. >> although the consumer is showing a little more strength. the operational word is a little. we need to see a lot more strength and were not going to likely get that. you just don't get it without a lo

in the election. and.... what apple earnings reveal about ipads, iphones, and consumers.first business starts now. you're watching first business: financial news, analysis, and today's investment ideas good morning. it's friday, october 26. i'm angela miles. in today's first look traders will be talkin' tech today. apple missed on earnings, although revenue was strong. iphone sales were solid, while ipad sales were weak. pandora tripped the circuit breakers yesterday after bloomberg news reported apple is planning a radio service similar to pandora. the stock tumbled 11% in a 10 minute free fall. amazon was another downer last night. the tech company posted its first quarterly loss in 4 years. here's a bright spot. expedia stock soared 11% on better than expected earnings. that stock is up more than 70% this year. mark sebastian of option pit mentoring joins us now. what do you like in tech earnings that could actually move the market today? we had amazon announced last night and they're a big global retail company and they missed badly. if gdp this morning is poor as well it

putting his money now. >>> our top story. the battle of the two tech titans. apple versus amazon. both companies reporting after the bell today. but which stock is the better bet right now? let's trade it with stephanie link, joe ter nokn terranova an murphy. >> i like the fact that expectations have come down. i like the fact it's a product cycle story, an ecosystem and all that. fwen gwen, the fact th again, the fact that the expectations have come down. amazon is a great story. but what bothers me about amazon, you don't really have the operating leverage because they have such challenges on the margin side. i think the margins are going to have a hard time going materially higher as they're making all of these investments. i like the risk/reward on apple better. >> mr. new world? >> yes, michelle. amazon. >> amazon? >> no. let's first talk about amazon. i think stephanie's correct. the challenge is the margins. you have to believe margins have troughed. in terms of a pure price performance amazon continues to defy the fundamental challenges it has. apple is the name i trade.

-time high. gwen stefani was on the radio and apple was $167. good morning, happy anniversary. i'm carl quintanilla. interesting morning setting up, futures modestly higher here after shanghai does rebound to a one-month high. the chinese central bank adding liquidity to money markets over there. in europe, meantime, merkle arrived in athens along with massive security personnel. we have seen some protesters stream into the area. we'll get live pictures in a moment. the road map starts with markets. about 6% off the highs since five years ago. can earnings season send stocks back to that level? >>> german chancellor angela merkle met with protesters in greece to talk about the downgrade of global growth, specifically forecasting a contraction in the eurozone. >>> the netflix run may be over after a torrent gain in a single week. b of a says they underperform. they tell investors to take the money and run. >>> apple is losing its shine. down 9% now since the launch of the iphone 5. >>> today is the fifth anniversary of the dow and the s&p hitting all-time highs. the dow is 581 point

economy. take a close look at apple. we're all waiting to find out what is going on in california for apple and we will get more details, of course. a lot of speculation of the ipad mini and whether it will be 7 inches, around there, competing in price point to the amazon fire and the google nexus. also coming out in a couple of days with their earnings. lori: you just sell the stock down ahead of the events swirling on what will be announced a smaller version of the ipad? adam shapiro, what do you know so far? >> tim cook is speaking right now and we can take video from the live web stream. he began by updating the sales process of the iphone 5, updating iphone 5 sales as well as ipod sales may build up what we all expect which is it doesn't have the official name but the ipad mini, 7.5-inch screen, a price point designed to compete with the likes of kendall fire as well as google, the arch nemesis of apple these days. we hope to get the price point from 250-$400. some analysts for the price point on this device could be $199 which would put it directly in competition with the kindle

ones in france and germany. road map starts in cupertino, california, where apple earnings missed. gross margins fell and the stock is moderately higher. we'll go through positives and negatives of a controversial quarter. >> amazon posted first loss in a decade with operating expenses up 28%. higher as well premarket. are investors too nervous to short those names in the holiday season? >> broad market is lower despite the gdp number. we'll get the view. >>> bombshell ticktock in "the new york times." >>> futures off the lows after the release of the final -- preliminary hearing gdp report from before the presidential election. data showing the economy grew 2% in the third quarter. that's above expectations and up from 1.3 we saw in q-2. numbers were boosted by consumer spending and defense and a big part of this, we'll see today whether we're still in an environment where people question data clearly gdp is more hard to manipulate than the jobs number. >> i thought the same. as soon as numbers came out, i said the people who do not like obama will say this was padded by five mor

? there was carl brenner, fantastic apple guy, expert on opera, he was an alpha romantic figure, flew a plane, looked like harrison ford, many lady friends, wine lover connoisseur. why did i think of him as this difficult person and why did he see me as this is his perception, which of course, i am perfectly willing to say that is me, put the mirror up. miss know it all, expert, his perception was that little sister always trying to get attention. this is pathetic, we'd get together and fight over everything. it was like we were back fighting in the backseat of the car. first time i went to the apple orchards, we had a huge fight about how to pick his fruit. i was bruising the apple. you are bruising my fruit. it was pathetic. you get stuck in that role playing because you are stamped with children with the roles. >> the character we see in this thing most of the time is pretty objectively difficult, not just somebody who is always irritated at his sister, but somebody mean, who has made his mother sad and angry and reaction to most things is sour and hostile. how much of that did you

the reason that mcdonald's is doing so badly? is there still an apple halo after apple reported a despised number last night. someone@twitter @jim cramer asked if it is time to buy sirrus logic? i wanted to wring the guy's neck. the time to buy apple was 235 points ago. and this is what apple has in the pipe. we dent hear it from apple last night. they never mentioned apple's name. part of the deal. tomorrow we hear from allergan. it has successfully extended the botox franchise to a host of other uses. the stock is up only 4%, a poor performer this year. bladder and migraine drugs i think will have a huge 2013. and ford on tuesday, the earnings have been so bad. we heard about a big restructuring from ford yesterday. taking up the costs in europe, very immediate. and greeted positively. i think it's necessary. for every step that ford takes here, it takes one step backward in europe and a half step back in latin america. the down side quantified from europe. and now the down side from south america. and the stock, does have a chance to break out above let's say 11 over the course

josh? >> apple. >> brian? >> buy intel, intc. >> guy? >> western digital. >> and the final trade from joe? >> travelers. >> thank you very much. more "fast money" at 5:00. an action-packed power lunch begins right now. >>> that is right, simon, what an hour we have in store for you. we begin this hour at the realtime exchange and the dow heat map, which vividly tells the story of a stock market down more than 200 points on the dow. one of the very few dow stocks that has been positive for much of the morning, intel and microsoft. microsoft, interesting, because right now, in san jose, california, one of microsoft's biggest rivals, apple computer, is set to unveil what many believe will be the new must-have damageet, so the called miniipad. now this is, if you can make it out, a live picture, we haven't had this before, of the theater where the product is going to be unveiled. our jon fortt is inside the event. brian sullivan is outside. he will give us live updates as the details are unveiled. >> a lot of tension down here, you can't afford to go anywhere this hour, with the dow

ibm and apple and google and all of the things that people would like to trade right now. because though don't trade across the street at the cme. so it is -- more of a tracking, i believe, that you will get from these futures rather -- an indication of where we will be tomorrow when you are talking about them. than it will be an actual volume event. >> i would note the volume overnight in the last night session was very, very thin. >> right. okay. bob, thanks for that. we want want to bring your attention to breaking news. head of the iphone and ios division is leaving the firm. jon fortt will join us later on in the show with more details of what this might mean for apple and launch of the iphone. coverage of hurricane sandy continues from power outages to major shutdowns. latest numbers on the storms and mary thompson is tracking the hit on commodities from the port of baltimore. >> that's right. ports, pipelines, refineries shut down i will have latest from baltimore coming up after this break. if we want to impre our schools... ... what should we invest in? maybe new building

out if burger king is the reason that mcdonald's is doing so badly? is there still ab apple halo after apple reported a despised number last night. someone@twitter @jim cramer asked if it is time to buy sirrus logic? i wanted to wring the guy's neck. the time to buy apple was 25 points ago. and this is what apple has in the pipe. we didn't hear it from apple last night. they never mentioned apple's name. part of the deal. tuesday we hear from allergan. it has successfully extended the botox franchise to a host of other uses. the stock is up only 4%, a poor performer this year. bladder and migraine drugs i think will have a huge 2013. and ford on tuesday, the earnings have been so bad. we heard about a big restructuring from ford yesterday. taking up the costs in europe, very immediate. and greeted positively. i think it's necessary. for every step that ford takes here, it takes one step backward in europe and a half step back in latin america. the down side quantified from europe. and now the down side from south america. and the stock does have a chance to break out above let's

devices, far more devices with screens bigger than five inches. far more than apple or google starting this quarter. a phone is different but anything over 4 or 5 inch screen this will be the most popular model in the world with the launch of windows 8. that is opportunity for the developer. robert: they hope is an opportunity for them. we get more on the share price later this afternoon. back to you in the studio. lori: so much technology from every direction it is tough to teach track of the innovations. melissa: apple earnings out "after the bell". the fourth quarter typically a slow one for the world's most valuable public company but this one may have been slower than usual. lori: let's look at winners and losers on the s&p 500. markets little changed but some paradigm is being a gain of 8%. they are not far behind. nice profit as well. back with more after this. [ male announcer ] this is steve. he loves risk. but whether he's climbing everest, scuba diving the great barrier reef with sharks, or jumping into the marke he goes with people he trusts, which is why he trades with a c

. >>neil: point, click, war. microsoft, apple, let's get ready to rumble. well, that is a bit dramatic. welcome,en, i am neil cavuto. this is the day that microsoft said "enough all right, enough with us not being as school as apple, enough with us not having the allure of apple, enough with getting sand kicked in our face by apple. this is the day the geek growled back with windows 8. it is all the buzz in the technical world it could have a huge impact on retail sales at christmas. more on that in a moment. here is why this is getting such a stir. microsoft jut might, might, might, might, might be cool. here is why they are saying that of the look at this, computer screen you can touch with technology that apple cannot touch because it is microsoft, it is windows and today it turned the technology world on its head. not only because it looks so different and feels different and represents a huge roll of the dice for microsoft but because the company's famous for making the software that pops up on nine out of ten computers is making computers use a tablet device that will scrap apple

sports fans have their eyes on the big apple as the orioles resume the championship series against the yankees. the series is tied at one game a peace. whoever wins three games will move on to the championship series. tonight's game is at 7:37. we just learned a potential game five on friday would start around 5:30. the orioles will definitely face a more hostile crowd than the 48,000 screaming fans who cheered them on here in baltimore. and although yankees fans battled in the bronx, we managed to find one orioles fan amongst them ready to cheer our team on. >> i have respect for the team. i came out of nowhere and have been doing good things. they came in here and changed the whole team around, the whole dynamic. there were not playing like as a few years ago. it is incredible for them to actually come out and take the team to play offs. >> pete gilbert will have live reports throughout the series. meanwhile, looking for tickets to begin? be aware of ticket skimmers. officials with the better business bureau said there are ways to protect yourselves from blowing money on a bogus tick

deals on travel this holiday season. and, will a mini gadget mean major moves in apple's stock? first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's monday, october 15th. i'm angela miles. in today's first look: techs on tap. bellweather tech companies such as microsoft and intel report earnings this week. it's a new day following one of the worst weeks in months. stocks slid as much as 3% last week. troubled solar company solyndra wants to exit bankruptcy and is expected to make an appeal in court wednesday. and, mortgage rates are on the rise. the 30-year ticks up to 3.39%. the 15 year edged up to 2.70%. let's say happy monday morning to larry levin of trading advantage. good to have you on the show. > > thanks angie, i appreciate it. > > there's a big eu summit happening on thursday. will stocks be held hostage? > > i wouldn't be surprised. there's two things: if we can stay above the 1420 level in the s&p - because we haven't been there in a while - and really finished there on friday afternoon. it wi

those earnings, not least apple last night, failing to give the bulls enough courage really to drive the market higher. we will see how we fare during the course of the next 60 minutes, sue. back to you. >>> as you just mentioned, positive news on the economy ahead of the elections. u.s. gdp growing faster than expected. it looks like consumers are hanging in there. but corporations are still sitting on the sidelines. our steve leisman is here to break down the data and look at what it all means for the economy ahead. >> we saw from the data this morning a split economy with consumer growth hanging in there. we saw that also with this morning's confidence numbers. business investment though is flat to down. the best part of the 2% growth number is that it is an improvement from the weaker 1.3% figure from the second quarter. and the housing we got started to show up in the broader economy. here's how we got to 2 prg%. consumers, 1.42 percentage points to the gain. business, investments and inventories ticked down a quarter point. federal defense spending up 13% on an evaen annualized