Siemens. Answers. Welcome back to squawk. We want to thank or guest hosts for being here on this postsuper bowl wrapup day. Steve liesman, well see you tomorrow. Join us tomorrow. Squawk on the street starts right now. Good morning. Welcome to squawk on the street. Im carl quintanilla, with melissa lee, jim cramer. David faber is off. Signs of reemerging political turmoil, both in spain, and in italy making investors a little bit reluctant to press the button for the upside. It comes after the dow did top 14,000 on friday for the first time in more than five years. Look at europe, thats where the storys going to be for most of the morning before we close at 11 30 eastern time. Germany taking it down 1,100 points as well. Asia got action as well as china. Nonmanufacturing came in better than expected. Clearly the story is going to be in europe for most of the morning. Weve certainly seen a flight to safety take place this morning, as weve seen the bond yields, particularly the spanish 1
Buy, neutral, comes after young sales in china disappointed on some can chicken issues there. Thats one to follow. Goldman downgrading shares of young. Linked in, buy ahead of earnings. Buy toll. Virtual, doc. Gap stores, 34. Long ieo and Energy Player etf. I think it goes higher. That does it for us. Dont forts to catch more fast at 5 00 p. M. , follow me on twitter and scott wapner cnbc. Power lunch starts right now. Indeed it does. Welcome to power lunch, everybody. Bulls, large and in charge. The dow trying to wipe out mondays triple digit loss. We have two breaking news stories this hour. President obama to speak in 15 minutes time. He will ask congress to come up with shortterm packages to put off automotiatic spending cuts. Hampton, we begin with you, Budget Office right now releasing its budget and economic outlook. Give us details. Reporter the Budget Office, assumes no change in current laws, 2013 fiscal year budget deficit, 845 billion. Cbo projects first time below 1 trilli
Dineequity, the Parent Company of ihop, having a nice run over the last year, up 42 . Imagine how many pancakes are fueling that raly. Yes. Everybody leave a little bit of money there. I think thats a good cause. Yeah. The market is powering higher. The Dow Jones Industrial average continues to move up, maybe 14,000 coming again soon, and by the way, need to note, something bill gunderson said has a lot in common with mandy. Both apple under him and apparently your College Transcript show the rare fplus. Shhhh. Just between us. Thanks for watching street signs, everybody. Closing bell is next. Hi, everybody. We enter the final stretch. Welcome to the closing bell. Im Maria Bartiromo at the new york stock exchange. Stocks doing another aboutface, and we are at 14 hub. I just said on twittery little while ago. Yes, im tweeting again, oh, dear god. Monday is officially forgotten now with todays rally. Right, right. For those of you who thought a selloff was the start of a much talked abou
Lynch upgrading the stock to underperforming. Theyll release a statement about the potential buyout. Weve been watching the futures all morning. If you want to take a quick look, after yesterdays big pullback, some people thinking that was the beginning of the pullback, you will see the futures indicated higher. Up by almost triple digits. Dow up just by 84 points. We want to thank our guest hosts today. Great to have you guys. Thank you both. We dont necessarily come as a team, but sometimes. Now its time for squawk on the street. Futures higher trning, thats something the bulls might say, dont call it a comeback. Were still here. Im carl quintanilla, with melissa lee, jim cramer is here, and david faber. Europe stabilizing as service pmi showing overall slowing of contraction. In china, services pmi accelerating to 54. As markets climb back from the s ps worst day since november, is todays market going to demonstrate investors willingness to buy the shallowest of dips. The business t
Welcome to squawk box on cnbc, im becky quick with ross westgate. Andrew is reporting from switzerland. Thats why weve got the mountain music. Well get to andrew in a moment. First, the top stories. The common theme here Quarterly Results, shares of google getting a boost. Earnings and revenue topping consensus and perhaps more important metrics, revenue from googles core internet business. It outpaced many analysts expectations. Advertising rates fell less than in proves periods. As you see, the stock was up this morning up almost 5 in the premarket. Ibm shares jumping after the bell. Earnings and revenue beating the street, as well. The Worlds Largest Technology Services Company Offering a better than expected outlook for 2013. That stock, as you see, up by 4 in the premarket. Also, we had advanced microdevices. It came in with a smaller than expected loss in the Fourth Quarter. The shares were rising in the afterhours trading. You see this morning down about. 4 . Heres the issue com