revenues were a bit better than expected at $1.18 billion. but disappointed investors dumped the shares in after-hours trading. facebook fell as much as 9% to $24. erika miller reports. >> mobile is a huge opportunity for facebook. our goal is to connect everyone in the world. and over the next five years, we expect four billion or five billion people to have smart phones. >> reporter: finally, investors got a chance to hear facebook c.e.o. mark zuckerberg discuss his company's business strategy. he told investors that the social network now has 955 million users, a near-30% increase in just one year. facebook's biggest challenge is figuring out how to adapt to the growing use of mobile technology. nearly all of facebook's revenues come from advertising, and that's more difficult with smaller screens. that's part of the reason facebook shares have gotten crushed-- they're down nearly 30% from the offering price of $38 in may. but some analysts still think the stock's a "buy." >> i think making money on facebook ultimately comes down to their ability to monetize mobile. it's almost binary. if they figure out a way to make money, the stock will be very successful; if they don't, then the stock will underperform the market. >> reporter: for now, many investors remain skeptical. when facebook went public, it had a valuation of $100 billion. now, it's closer to $60 billion. erika miller, nbr, new york. >> reporter: i'm diane eastabrook. still ahead--i'll tell you how the weber company is still keeping the grilling industry on fire after 60 years. "nightly business report" is brought to you by: captioning sponsored by wpbt >> tom: "whatever it takes to preserve the euro. with that phrase, the head of the european central bank helped spark a stock rally, and added to expectations central banks in europe and the u.s. may act next week to help their struggling economies. those expectations led to higher stock prices today. the dow rose almost 212 points, the nasdaq added 39, the s&p 500 up 22. e.c.b. president mario draghi's comments today came after borrowing costs for troubled european economies had climbed to dangerous levels. spanish and italian government bond interest rates shot up earlier this week over worries about those countries' ability to pay their bills. on tuesday, the spanish government ten-year bond interest rate was 7.59%. it dropped just below 7% today. a lower interest rate means lower borrowing costs. italian government bonds had a similar reaction. the ten-year italian bond was 6.58% on tuesday, falling to just above 6% today, reflecting a little less anxiety. the european central bank meets next week to discuss monetary policy, but instead of providing any new economic intervention, what today's comments may have done is give political leaders of european union member states more time to take the tough action needed on government spending. >> at every juncture in this crisis, the ecb has extracted some form of concession from a member state. at no point has intervention been unconditional. that's not the position of the bank. politics of the governing council don't allow its interventions to be unconditional, and i think that's the same point we're at today. >> intervention on the part of banks next week. what happens if there isn't any, and the ecb wants to buy time? >> i think that's exactly whoo we saw today is the ecb buying more time, and the 10th or 20th time that somebody at the ecb or one of the politicians in europe tried to give more breathing spice to the euro and add to the structural impediments theor trying to overcome, that's what theor trying to do, and the fed has a different set of objectives, s and thel ookt accordingly. and the u.s. has to keep an eye on prices, and not just employment, helped out by innriegz. headline inflation has dropped considerably, but when you strip out volatility and food, gaining steadily, and now with the drought in the midwest, and the summertime, in chicago food prices are expected to rise. what's the impact? >> it's a very tricky line for the fed to be walking this time around, with food prices, and soybeans and wheat late last week. that's go to meet some food inflation into the pipeline. fortunately, as you know, those rises in prices continue not to get through to the consumer if they're transyept. at this stage of the game we're more concerned about deflation than inflation. >> voted. but when you look a look at corn. over $7.50 a bushel, is it sustainable if the drought continues. >> i think the nice thing about the globalization we've undergone over the course of 15 or 20 years is we have multiple growing seasons and a lot more exporters around the world, particularly in the southern hemisphere, brazil, argentina and australia to name a view. that will keep a lid on the higher prices. as an old moon told me once the cure for high prices is high prices. we get to grow these things, another shot at them next year. we've got enough supply around for now. >> tom: do you have a pog in corn in the fund? there are positions across all three of the major crane complexes in the fund. >> tom: lincoln ellis with us talking inflation and commodities. >> susie: it looks like uncle sam won't hit his head on the debt ceiling this year after all. a senior treasury official today told lawmakers that with "extraordinary measures," the u.s. government could wait until next year to raise the country's debt limit. the borrowing limit currently stands at $16.4 trillion. last summer's fight over the debt ceiling cost the country more than $1 billion in additional borrowing costs, and it lead to an unprecedented downgrade of u.s. debt by standard and poor's. >> susie: a couple of other big >> susie: a couple of other big earnings reports out tonight, offering insight into the u.s. consumer. first-- starbucks with an earnings miss and a warning. profits rose 19% to 43 cents a share, but that was two cents shy of estimates. revenues were in-line with expectations at $3.3 billion. starbucks lowered its outlook for the rest of the year due to economic and global headwinds. still, it plans to add 1,200 new stores next year. the stock tumbled almost 10% in after-hours trading, down to roughly $47 a share. at amazon, earnings dropped 96% from last year. it earned only a penny a share-- it was a penny less than analyst estimates. sales jumped almost 30% to $12.8 billion, in line with analyst estimates. amazon shares closed up ahead of the results, rising to $220 a share. they were flat in after-hours trading. and now, for more on those facebook earnings, we turn to marek fuchs, with thestreet.com >> declining enrollment for facebook coming out with the first quarterly report as a public company, what was your takeaway on the number? >> there was anticipation that this report, at first, would either confirm the worst fears that facebook was the worst public company since time immemorial. or affirm the sense it was financially viable in perpetuity as hoops with preconceived notions. neither was right. facebook was pretty much what was expected. number one, long term growth rate, and number two, in the high growth, 67% of mobile which proves a mixed blessing. opportunity, but more so, in the immediate term, kheefrj for facebook. >> growth is the face of facebook. there's been so many doubts since the company went public how to take advantage and monetize all of those users >> did you here anything that gave you confidence. >> no, it tended to be vague. >> in other words, mobile which is the central area. they'll try viers new strategies that cost money to tease through the phone, and theor all versions of just beating you about the head with ads on your phone. i think investors, and traders need to be careful not to buy into this until they see some definitive sign of progress here. >> susie: i'm taking it that you're not constructive on the stock. look at the stock khoort. it's down from the uefring price. is it a bargain at $24 or just sty away from it. >> forget the uefring price. it was an unwholesome self-sabotaging offering. unless thigh mike mon nemobile, they're going to have trouble going forward. i wouldn't touch the stock here. >> mark zuckerberg's first time on a conference call as the ceo of a public company. what was your take away on him. how did he >> well, it was a bit of an apparition, obviously, and there's suspicions he's more into the social justice of the company than maximizing profits. so it was good to just see or hear him, and somebody picked him up by the scruff of the neck and brought him on the call. it was brlt than not. >> susie: any disclosures to make on this stock? >> no, i don't. >> susie: all right. thanks a lot for coming on the program. mairk mierrek fuchs with the street.com. >> tom: meanwhile another social network had issues today. widespread outages impacted twitter users across the globe. the problem at the micro- blogging service was resolved after about an hour. still, it brought to mind a similar outage just five weeks ago when the service went dark for several hours, raising worries about whether twitter has enough infrastructure in place to support its 140 million users. >> susie: another new price strategy for j.c. penney. it comes just six months after the retailer launched a turnaround that dropped clearance sales in favor of everyday low prices. but now, clearance items will return next week, along with ads that "better communicate its pricing to customers." c.e.o. ron johnson was brought in to lead penney's turnaround late last year-- so far, his efforts have fallen flat. penney's sales tumbled 20% during the first three months of the year as shoppers were searching for deals. the stock is off more than 40% this year, but shares rose slightly today to $22 and change. and tom, it was an up day here at the big board-- all but one of the dow 30 stocks were in the green. >> very strong buying that we saw across the board. broad market buying here. let's go heed and take a look at the market focus. >> tom: u.s. stocks jumped on the encouraging comments from the head of the european dental bank we reported earlier. a pair of better than expected economic reports in the u.s. helped, too. fewer americans filed for first time unemployment insurance last week, falling by 35,000 to 353,000. meantime, durable goods orders shot up 1.6% in june. but without demand for airplanes, the number would have been negative. add up the headlines, and we saw stock buying right from the opening bell. this was the biggest daily gain for the s&p 500 in almost two weeks. trading volume climbed to 896 million shares on the big board; just under two billion on the nasdaq. all ten of the major stock sectors moved higher. the leader was the same for the second session in a row. telecommunications had the best performance again, up 3%. the energy sector gained 2.7%. oil prices jumped close to $90 a barrel. sprint lived up to its name today. the company has struggled against bigger competitors, verizon and at&t, and smaller prepaid wireless providers. but with the company raising its financial forecast after a stronger than expected quarter, shares shot up. it was the most actively traded nasdaq stock, rocketing higher by 20.2%. it's the first close over $4 a share since august. its wireless customers are spending more money even as it lost more subscribers than feared. that was blamed on sprint shutting down its old nextel network. sprint's prepaid competitor metro pcs shot up almost 37%, thanks to its own stronger than expected quarter. it has been signing up new subscribers as it gets ready to launch its new 4-g wireless service by the end of september. with all this focus on telecommunications, at&t shares added 2.8% to a four-year high. verizon gained 1.7%. homebuilding continues rebuilding-- a strong quarter from the nation's second biggest builder, pulte. the company earned more than twice what was expected, 11 cents a share. orders for new homes jumped, and the company was able to raise home prices thanks to stronger demand. shares shot up 18.4%. volume more than doubled with the stock at a new two-year high. home depot rallied on the optimism. the stock rallied 3.6%, making it the best percentage gainer of the dow jones industrial average. fellow dow stock exxon mobil gained 1.5% after reporting its biggest quarterly profit and the biggest quarterly profit ever by a u.s. company. per share, exxon earned a $1.80, which excludes the contributions from exxon selling certain business units. that result was actually 15 cents below estimates. all five most active e.t.f.s were higher. the emerging markets fund popped the most, 2.3%. and that's tonight's "market focus." >> susie: we continue our look at cyber-security. our guest tonight is concerned about individual civil liberties in a bill making its way through the senate. he's lee tien, a senior attorney specializing in free speech at the electronic frontier foundation. lee, tell us why you're concerned that about security bill doesn't do enough to protect individual privacy? >> well, the emphasis of this bill as with many of the other bills we've sown lately is on increasing monitoring and surveillance powers by companies. the big problem with this bill, as with the others is that in doing that, it tends to wipe out a bunch of existing protections and federal law. that make telling unlawful for companys to read your e-mail without your consent. >> accuse the power to monitor >> test "your money and business" specifically was to nullify the existing connection. >> we'd definitely like to see that provision. and we also think that a lot of the definitions in the bill are rather broad, and need to be tightened. >> we also have a much more general problem with the bill. we're not quite sure that it really addresses the fundamental problems of privacy security. you hear a lot of people talk about how networks and zombies compromised machines will be able to attack critical infrastructure. this bill doesn't ensure us to shore up weaknesses or fix the vulnerability in everyday systems and device that's cuse them to be vulnerable in the first place. >> so, lee, how can people first guard against any kind of invasions into their unauthorized use of personal data. is there anything they can do? >> there's a few basic things people can do. >> first of all, they can mike sure that the software they use is upgraded. a lot of times companies are regularly issues updates to fix vulneshlgts they learn about. second, you should never install the software on your machine in the first place until you know where it came from. third, you want to make sure -- >> unfortunately, we lost the studio electronics here. he's lee tien, a senior attorney specializing in free speech at the electronic frontier foundation. >> tom: tomorrow on nbr, we continue our cyber security coverage with the nation's largest maker of cyber security software, check point software. and our "market monitor" guest marshall front says he likes stocks over bonds, and he's warming up to chinese stocks. he's founder of investment advisor front-barnettt and associates. >> susie: for some teens, getting a driver's license is a rite of passage. but when it comes to buying a car, the cost goes far beyond the car itself. in tonight's "kids & cash," neale godfrey has some tips for guiding your teens driving dreams. she's c.e.o. of the children's financial network. >> every teen wants a car, right? they think they can afford one if they only save enough money to buy that $5,000 old clunker. they need to think again. have your teen research all the costs involved in owning and operating a car. their list should start with the cost of the car, but it also needs to include insurance, maintenance and gas. speaking of insurance, hopefully, their research will explain why male car insurance premiums are more expensive than female's. the average 18-year-old male will pay almost $3,000 a year, while his twin sister will pay $1,500 a year. also, let your teen see how your premiums are affected if they are put on your policy. they should be lower. premiums are also affected by where you live, what type of car you drive, and if you've been a responsible driver. kids may actually reduce insurance rates by maintaining good grades. the other big cost is gas. it will cost almost $50 to fill that four-cylinder tank. that's $3,000 in gas per year! so, now, to own and operate that car for one year, your teen will have to spend almost $10,000, after taxes. hopefully, public transportation or their bicycle is looking better. i'm neale godfrey. >> tom: weber and grilling are nearly synonymous. the company that builds the iconic black charcoal grill is celebrating its 60th anniversary this year. grilling used to be exclusively a summer-time activity, but now, many of us grill out year-round. as diane eastabrook reports in tonight's "made in america," the trend is spreading to every corner of the globe. >> reporter: nothing says summer like chops on the grill. and nobody does grills like weber. >> now, this is our most popular kettle that we sell worldwide. >> reporter: at weber's grill academy near chicago, chief marketing officer mike kempster shows me why weber is the king of grills. there's the iconic black charcoal grill that also comes in candy apple red, gas varieties... >> hit an ignition switch and they're ready to grill in 15 minutes. >> reporter: ...$30 smokey joes, and $5,000 contraptions that bring the convenience of an indoor kitchen outdoors. >> right over here, we call the social center where you can set up wine or liquor bottles, juice, and well, just hang out. >> reporter: weber started in 1952 when george stephen turned a marine buoy, like this replica, into a charcoal grill while working at chicago's weber brothers metal company. since then, privately-held weber-stephen products has expanded into smokers, cookbooks, and utensils. the company still builds most of its products near chicago, but sources parts from china. kempster says grilling is popular anywhere consumers have leisure time, space, and good incomes. that will help weber sell about two million units this year all over the world in places you might not even expect-- like india, for example, which has a growing middle class migrating to cities. >> they start having weekends off and they want to enjoy that time with their family. we see that they move to apartments that have a balcony or perhaps a home that has a small plot of grass. >> reporter: sales at home have been tougher in recent years. kempster estimates the industry lost more than a half-million grill sales when the housing bubble burst. still, he says weber has captured market share from rivals by rolling out new products like small, portable gas grills, and a version that combines a gas igniter with a charcoal kettle. >> it'll start a flame that's about the size of my hand, and in ten minutes of so, it will light the bottom layer of charcoal. you turn off the gas and you're ready to go in about 15 minutes. >> reporter: george stephen died 20 years ago. a statue of the founder greets visitors outside the company's showroom. it's a reminder of how one man's novel idea sparked a culinary revolution. diane eastabrook, nbr, schaumburg, illinois. >> susie: that's "nightly business report" for thursday, july 26. have a great evening everyone, and you, too, tom. >> tom: good night, susie. we'll see you online at nbr.com, and back here tomorrow night. 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