closer to becoming a reality. it s data out of china causing concern this morning. import growth fell short of expectations. stoking fear the economy may be in for a bigger consumer-led slowdown. research in motion meets with shareholders today as the stock sits at eight-year lows. will the gathering be a catalyst for shares or is the competition for sales and investor dollars, ie apple, just too tough at this point? wall street is digesting this morning s earnings news. stocks try to avoid a four-session losing streak. shares of alcoa moving higher this morning. dow component posting second quarter operating profits of 6 cents a share. beats the street by a penny. alcoa says the fundamentals of the aluminum market remain sound. different story for amd. shares of the chip maker down sharply. it slashed second quarter revenue outlook citing disappointing shares in china and europe. they see revenue falling 11% sequentially compared with its higher estimate between down 3% to
heading to her in a moment. meanwhile, the top story. president obama saying he wants to extend the bush era tax cuts for americans who earn less than $250,000 a year. aemo javers live at the white house. reporter: it wasn t a cam pan speech. the president not autoon the campaign trail. here at the white house but it felt like a campaign-style speech. he had a backdrop of middle class americans who he said would benefit from extending the bush tax cuts for those under $250,000 a year. and while he didn t mention either president obama george w. bush or his opponent mitt romney by name he linked the policies of the two. we ve tried it their way. it didn t work. at the beginning of the last decade, congress passed trillions of dollars in tax cuts that benefited the wealthiest americans more than anybody else. and what happened? the wealthy got wealthier. but most americans struggle. reporter: the president also said that more than 97% of americans are below american sma