Looking for record territory of their own. Shares of best buy set for a nice gain after earnings ahead of estimates. Well tell you why its still about the tablets. Strong demand for jeep brand helping sales at fiat chrysler. What to expect from ford and gm when they report later on this morning. You saw it happen here on squawk on the street during yesterdays session. The nasdaq hit 5000 for the first time in 15 years. The index finishing above that level. Now about 40 points away from its record close. Meantime, the dow and the s p each posting alltime closing highs, along with the russell. As you might expect jim, broad media all over it. The nasdaq 5000 logo, bleeding into the mast head over at usa today. Interesting, i think they dont have i think that most people would know Kim Kardashian far better than what stocks are doing on the nasdaq. Last time the man on the street new it was time to buy cmgi. They didnt know it was time to sell cmgi. Priceline did come public this day in 1
Dagen the wonderful you have no idea where i am going. I can get myself into trouble. Connell yes you can. Dagen stocks now and every 15 minutes. Nicole the markets are pretty much spot. Lets start off with apple. The 700 stock back in the middle of september. One product after each other the price target is now 700 from 780. Not too optimistic on the iphone5. It is down 3. 5 right there. The vix, the fear index, is to the upside. The dow is higher while the s p and nasdaq are pulling back. Back to you guys. See you later. Connell thank you. After the big meeting they had last night, the speaker of the house, john boehner, is heading home for the weekend and ohio. Dagen rich edson is following the action. Rich there are cell phone communication and airports in his area of ohio. He can come back if he needs to do so. Even after last nights 50 minute meeting with president obama at the white house, there still is no Significant Movement towards a deal on the fiscal cliff. They have a fra
Settlement with the department of justice, 4 billion of which will be a fee to the government. Results,of the earning adjusted earnings per share 1. 24 beating the average estimate of one dollar five cents. One dollar five. Cents. 1. 05. Net interest margin is the money on loans increased to 2. 87 but that appears to be a myth to what analysts were looking for. They were hoping for 2. 88 . Michael corbett is making comments. Commercial and industrial loans continue to do well as the economy recovers. They want to reduce operating expenses. We continue to lecture that any talks about the Significant Impact of the settlement on the net income because we know that from the 7 billion settlement with the department of justice, there was a 3. 8 billion dollar charge on citigroup. The Second Quarter, net income was 181 million for the period. Revenue beat analyst estimates in the earnings per share number also beat analyst estimates. I will look for the Capital Market numbers coming up. To in
Individual investors are entering the equity markets. At the airshow. We begin with Phil Mattingly and citigroup 7 billion agreement to resolve a Mortgage Securities investigation. Good afternoon. Just hours away from filing a civil suit against citigroup, the Justice Department settled for a record fine of 4 billion, double was extracted from Jpmorgan Chase last year. This is the latest and settlement, part of the series we have seen over the past couple of months. As part of the settlement, citigroup will pay out 500 million for the state attorney general and fdic to address investor claims and add 2. 5 billion for consumer relief. That will includes principal reduction. The Justice Department made clear this is far from the past last major settlement they plan on reaching. Eric holder has been under pressure to bring financial crisis cases. Do these mollify critics at all . Not entirely. Are of the reason is they civil, not criminal penalties. That said, inside the Justice Departmen
A rocket fired by hamas militants has hit a petro base. Theyve called up some 30,000. In Virginia Beach, a powerful storm caused extensive damage and injured at least ten people. In central pennsylvania, an Amusement Park was flooded. Firefighters in Washington State are facing difficult conditions as Property Owners have been ordered to evacuate. A man who went on a murderous rampage outside houston. 33yearold ronald has skkel will be in court. A plane was diverted. One saw another making threatening messages on his cell phone. Youll hear from him soon. Impeach him. Really . The gloves are off between president obama and john boehner. We now know that boehners lawsuit will focus on the president. Hes been president for 5 1 2 years. When is he going to take responsibility for something. In pamplona, spain. Many hurt in the running of the bulls. Tiny fish dropping from the skies. They actually dropped the hatchlings to repopulate. Where does he go . Miami. Boom. The hot cop of San Franc