Energy prices are likely to be a point discussed at todays fed meeting. The fomc is expected to turn off its massive Bond Buying Program while ensuring investors it will start ready to act should the economy be threatened. And we will have Steve Liesman joining us with the exclusives from the fe survey later this morning. The s p caseshiller index, consumer confidence, and Third Quarter housing data. As for earnings, among the names posting Quarterly Results before the bell, dupont just hitting the tape. Pfizer, auto nation, corning, when i will pool. Coming this up afternoon, facebook will be on Centers Stage after a market closes. We have the dow looking like it will open higher. Up about 11. 5 points. The nasdaq will open higher, as well, by approximately 24 points. Earnings per share, sales, 7. 5 billion. Revenue is 7. 87 billion. So its a different number. 7. 87 compared to 7. 95. So maybe just a little bit shy of expectations. But pretty close. And then for the year, the company
Hill shire thought they would buy pinnacle and get into frozen foods and get bigger. A couple weeks later, theyre going to be involved in tyson. A heated hitting were. Bidding war. Have the stronger balance sheet, but they had the stronger will. They did not really chase this is this. Sara lee was part of one big company. They almost bought it been a couple years ago. They have been lusting for the brand for many years. On had a Bad Reputation not a Bad Reputation, but it would back away from meals at the last second. This time, they went through and went a couple of dollars higher than the rival. The next thing will be a formality. Hill shire has to get out of the pinnacle deal. Acquired. Ll not be 163 million termination fee. They will get paid by hilla shire for the deal not getting done. We do not think there are great candidates to buy hill shire. I think they go on doing what theyre trying to do. They are for sale and are on the block if someone wants to take a look. What happens
The reports polled saying the economy likely added 120,000 jobs last month. Thats the estimate and the baseline to play against. The employment rate is seen ticking higher to 7. 4 and the numbers expected to show the Government Shutdown delayed hiring and forced some workers, of course, to stay home. Also in the news this morning, blackberry will be paying its new interim ceo a base salary of a million bucks, a bonesup up to twice that amount and stock awards potentially worth some 58 million. John chen is credited with turning around sybase in the late 1990s. His shares only begin to vest after three years with the company. And the majority of those will vest an he completes his fifth year with the company. If hes fired without cause, he will be paid up to 6 million. And given that becky still has her blackberry, i think thats a good incentive to keep hers on for a while. Salix pharma will buy santarus for the 2. 6 million. Joe, over to you, sir. Lets start with twitter. The first day
Second. Simon is at the ny sze, but we begin with the man that wall street and investors all over the world were waiting to hear from. Ben bernanke testifying before the House Committee on financial services. The tenyear reacted this morning to that. Right now it is down below the 2. 5 mark. Were at 2. 493 . Thats significant. Weve not seen that in some time. Senior economics reporter Steve Liesman joins me with some of the details on what mr. Bernanke said. Probably a dovish bent to bernanke in that hes saying fed policy is not on a preset course. Most of the economists who commented on this say they think the fed is on track to tapener september but a big issue is how much fiscal policy drags on the economy. Bernanke came back to that several times. Heres what he said in his prepared testimony. The risk remains that tight fiscal policy will restrain Economic Growth over the next few quarters by more than we currently expect or that the debate concerning other fiscal policy issues suc
Killed before they even had a chance to defend themselves. Kids playing in the bay area creek find a human skull. Police now say about the discovery. And evolution of president pochlingts white house is asking the Supreme Court now to end the ban on gay marriage in california. Bay area police Bay Area Police department is learning to fight breaking news in southern california. Ferocious wildfire just north of riverside has been burning out of control since 4 30 this afternoonwith hundreds being evacuated. Fire quickly spread through rancho rope a Regional Park through several neighborhoods northwest of downtown riverside. Heavy smoke rising in the sky scene from los angeles about 60 miles to the west. More than 200 firefighters are on the scene right now with cal fire reporting 150 acres burned so far and the blaze at only 20 percent contained. Good news is winds are lit down there. However fire officials have cut back on air attacks. There is concern about flying in power lines and no