and another factor in play, as maria mentioned, some disappointing data on the jobless front. and although we reached positive news on the leading indicators which rose for the eighth mont in a row. we showed you how the material stocks -- okay, i'm sorry. maria, i'm going to interrupt myself. send it back to you. >> fun wle that happens. you interrupt yourself. we've got the oracle numbers. they're out, 39 cents a share. nongap. the estimate called for profit. up 36 cents a share on oracle. the quarter, it's the second quarter for oracle, the revenue estimate $5.69 billion. again, that is the estimate. we've got the numbers, actual numbers for the second quarter coming in at 39 cents a share versus an estimate of 36 cents a share. let's get on jim goldman -- we're going to get to jim goldman rather momentarily. as soon as we get more on this. and we've got the revenue number there on oracle? 39 cents a share is the eps line. and we're waiting on the revenue number. but as a mention the $5.69 billion is the estimate. mary thompson, let me send it back to you. we're watching oracle sharps right now as we await the revenue numbers and more details behind these numbers. you may have to interrupt yourself again. >> reporter: that's okay, just let me know, maria, okay? one stock that we want to talk about today was citi because it was extremely active. raising money to repay t.a.r.p. interesting to note that the volume here at the new york stock exchange was about 1.6 billion. citi accounted for about 600 million of the volume here at the big board. overall, more than 3 billion shares of citi traded today. again, above that offering price of 315 a share. bank of america was in the news today name a new ceo brian moynihan, an insider stepping in. bank of america below that share. now let's get back to jim goldman with more on the oracle numbers. jim? >> reporter: yeah, mary, looking at this report a pretty good news story here for oracle, as we've been talking about here, that headline number, 39 cents a share as far as nongap eps is concerned beatle the street by three cents a share but look at top line here, $5.86 billion. nicely beating $5.69 billion. been so much concern over database and other enterprise spending. and it would appear that oracle is now seen a nice uptick as far as the top line is concerned. this is not a cost-cutting story anymore. this is about companies actually beginning to spend again. now, new software license revenue, $1.7 billion. this is a very key metric here for this company. and it resoundingly beats the 1 pyne $54 billion that wall street was anticipating. software updates and support, again, ongoing company contracts $3.2 billion. lighter than the $3.62 billion but essentially inline. nongap operating margins, 49%. some concern that oracle was not going to be able to basically translate the top to the bottom line and really squeeze out as much money as they possibly could. that 49% beats nicely the 47.8% consensus. we see oracle climbing here. a company off to the races for much of the year. the news here is that oracle might be indicating a nice increase in enterprise spend anxiety we've heard that message from several other companies ahead of oracle's news tonight. investors seem to like what they're hearing. maria, back to you. >> thanks very much, jim goldman with the latest there. more context on these numbers. dan morgan is with me, portfolio manager. dan, your gut reaction here to this report on oracle? >> well, it's a very strong report, as jim said, maria. i mean $5.8 billion on revenues is way boost estimate. three cents better on the bottom line i think the key here is the -- as he was say, the new licensing revenue. $1.7 billion. that's way boost $1.5 and change that the street was looking for. this is a flow over of what we saw a couple of days ago, maria with adobe. they came in with good numbers, and as jim was saying, this does give us some indication as the year closes out that a lot of companies are buying software, that they might have put off throughout the year. they're finally closing these deals at the end of december. so a very, very good report. at least initially from what we can tell coming out of oracle's numbers just based on the revenues and the earnings and so forth. >> you know, dan, i want to just get out the news here that rimm just reported as well. research in motion, they're coming out with a profit of $1.10 a share. versus an estimate of $1.04 a share. any thoughts on what the rimm quarter looks like? i know that you are covering oracle but just throwing that out there for you to let me know your instinct on rimm as well. >> well, it look like a good report, maria, because we know that last quarter they had a disappointing number and the stock really traded low on that figure. and i think what we're seeing from rimm is we know that they've come out with some new versions of their handhelds, in terms of -- they've got the new 8520 curve coming out, which is a lower-priced handheld. they've got bold, which is on the upper-end. and i know that they've gained some market share. i think 20% of the smartphone market right now. i think that we're starting to see some moment num rimm after a disappointing quarter a couple of months ago. a good number, initially. >> we've got more from jim goldman in a second. but, dan, would you commit new capital to oracle and/or rimm right now after what you just heard? >> well, okay, we do not follow rimm. and it's not a stock on our buy list so i really cannot comment on that. >> okay. >> up to your viewers. >> sure. >> oracle, we do have on our buy list. we do own the stock. obviously, it looks like a very good report. the stock trades about 16 times earnings rights now. . average p/e over the last three to five years is about 18 times earnings. so still appears to be some value on a valuation perspective. so we're still actively involved on the buy list. and in terms of oracle. so it looks like a good report. so obviously positive on oracle. >> all right, dan, thanks very much. we appreciate it. get to jim goldman. now more headlines, behind the headlines on the rimm quarter. and of course interesting to note that the company reports earnings on a day that the blackber he some real issues today, isn't that true, jim? >> reporter: yeah, a nationwide outage as far as blackbers correspond. the company, at&t and this affected verizon's, all carriers, rimm's working on the details there and we're seeing those blackberrys start to come back. it wasn't a total outage but definitely pockets of the areas that were certainly affected. get on these numbers here because a very big report. $1.10 beats the street by six cents share. $1.04 was the consensus there and the revenue also much better than expected. against the $3.8 billion that was anticipated but look at devices that this company was able to move. 10.1 million units on the quarter. resoundingly beating the 9.54 billion. and signing up 4.4 million new subscribers against the 4.1 million that was anticipated. looking out at this company's fourth quarter guidance, this is just the good news that keeps on giving here. $1 fwoin 3 to $1.31 is the range. the street was at $1.12. i should also mention that that range that rimm is offering now reflects a three cent positive impact from the cancellation of the company's plans to buy back 12.3 million shares. but still even if you back that out, you're still talking about a company that is dramatically ahead of wall street expectations. the revenue range 4.2 to $4.4 billion. the street was at $4.1 billion. new subscriptions, 4.4 to 4.7 million. the treat was looking for 4.5 million. and the company's gross margin of 43.5% for the fourth quarter, also better than expected. so this is a company that is doing exceptionally well, event in midst of all of that heated competition that we've been talking about, as far as iphone is concerned, the oncoming google phone, the palm pre motorola's droid. all of this competition, and research in motion was still able to perform and to perform admirably. a very good report. maria, back to you. >> jim, thanks very much. jim goldman with the latest there. and check the activity in the stocks as well. meanwhile, palm just came without its numbers. second quarter loss of 37 cents a share. now the estimate called for a loss of 32 cents a share. we've got the loss on palm at 37 cents a share for the second quarter. we'll continue of getting more details on the palm quarter and of course check the activity in the stock as well. in the meantime, let's drill down a little deeper into the market and in investing toward year-end here as we approach year-end. joined right now by jim swanson, mfs investment management, chief investment strategist. and global market strategist with jpmorgan private bank. >> great to be back. >> jim swanson, kick this up here with you. a whole host of earnings news out in the extended news tonight. heard from oracle, rimm, palm just now. your thoughts on the corporate earnings season so far, and how that is dictating how you're allocating money these days. >> oh, it is stunning, it's surprising to many people, but earnings are running way ahead of the stock prices. we've got now a quarter of the companies in the s&p 500 hitting the previous earnings peak of this cycle. fewer than 5% of the shares have actually reached their peak. so earnings are running ahead of expectations. and one of my favorite sectors, you just talked about, a couple of companies there, the tech sector has about seven reasons why investors ought to take a long look as this being a leader in 2010. >> yeah, but i mean even though earnings are better than expected, we're really not getting much on the revenue line, are we? i mean, people are waiting for evidence of end market demand. are you seeing that from the revenue numbers that you're getting? >> well, in q3, 60% of the companies showed surprising revenue growth and there was about a 2% sequential growth. so it's not convincing yet, but there's so much pent-up demand in the u.s. for housing, for cars, for cap spending and for tech, i.t., that i think you're going to see it in 2010. and i think that'll be the surprise of next year. >> stu schweitzer, real quick on investing in this environment. would you be putting money to work? you've been bullish, right, thanks for the calls on the show, but now talking about a market that's up 60% from the lows. is it getting expensive? >>u i don't think that it is expensive. we're having trouble getting through the 1100 level. i still think, though, frankly i agree with jim that there is big profit growth coming in 2010. and probably more in 2011. and i look for plus 25 to 30% earnings per share growth from the s&p 500. and i don't think that's priced. i also think that revenue growth is coming back. and it's going to be a good story. where it's going to run into trouble? you always have to be careful with what you wish for. this economy's getting better. capital spendg getting better. the consumer's getting better. you have to worry about what interest rates are going to do in response to that. >> yeah, sure, the fed. >> because that could be the showstopper for a time. >> yeah, yeah. i mean the fed coming in, seems to be the big threat. gentlemen, stay right there. get to jim goldman, he has now more on the palm quarter. a 37 cents a share loss, jim. what else can you tell us about the second quarter at palm? >> reporter: well, you know, we're going to talk about palm in just a second. i just want to go to research in motion really quickly here, because we are seeing this company's stock off to the races. and it is reflecting just a much better than expected quarter on this company. as we mentioned earlier, you know palm did $1.10 verse glaus $1.04 a share and we've seen shares jump what is it 10% there? a company that's off to the races and for good reason. that 10 million units of blackberrys on the company's third quarter is really taking a lot of people by surprise. this is going to make for a very interesting conference call when that begins in just a few moments. get to palm here, because this is a -- well, it's a relatively mixed bag here. company reporting 37 cents in red ink. that against the 32 cents that wall street was anticipating. now the revenue line is substantially better. $302 million versus the $267 million that wall street was looking at. but as we look a little deeper that 873,000 cell phone smartphones units shipped on the quarter is much better know that the 689,000. but check out cell-through here of 573,000 units. that means that palm is leaving a lot of these units on store shelves. lots of them shipped. that's the good news. but maybe not as many actually sold. and that might be causing some concern and why we see a little softness here in palm shares. we'll get more clarity on that certainly when the company has its conference call. but, wow, it looks like the story after-hours, no question, research in motion. >> yeah. okay, thanks very much, jim. back to our guests here. jim swanson and stuart schweitzer. if you are looking for a good 2010 for the markets and the big risk, because the economy is getting better -- that the fed is coming in, what sectors do i need to be exposed to? >> well, first of all, i think that you need to be exposed to increased capital spending by business. and that includes both technology and more gen ram industrial capital spending. and you know steve liesman had that piece a few moments ago in the last hour, showing how high corporate cash levels are and how much company his cut back in their comp x. jim talked about pent-up demand i think that there is big pend up demand for capital spending. but maintenance capex. and i think that you want to be positioned for that and also looking outside of the u.s., particularly at non-japan/asia. the other thing i think that you want to be shorter than normal in your bond derations. if interest rate, going to go up and led by the bond market this time, not so much by the fed, as the economy gets stronger, and then i think having a shorter than normal duration's going to be a big protection against capital losses in the bond market. >> jim, what about you, do you agree with all of that and how do the commodities fit in here? for a long time talking about resource-rich areas. you want to be exposed to the brazils, and russias and where you are really seeing the commodities plays because of the demand coming out of china. is that still a good idea, or have things become expensive there? >> no, they haven't become too expensive there. i mean don't forget china is re-electifying -- or electrifying the rural areas and using copper, that's just one example. there's tremendous demand building around the world, particularly because the brit countries and the ancillary market metals. so you're going to see a lot more initial demand for those. so those late cyclicals, which would be metals and mining and energy -- are going to show up on your screen sooner i think in 2010. the rate structure will move up. i agree with that point. and to that point i would think that you would also like to look at international dividend-paying stocks because they have lowered -- even stocks have duration. you want to lower your duration stocks as well. so investors ought to keep their eye on dividend pay earners. >> great insights. jim swanson, stu schweitzer. we appreciate it. more nike news out with its second quarter earning. the numbers are 76 cents a share. based on an estimate of 71 cents a share so that looks better than expected. $4.4 billion in revenue. darren rovell now with the latest on nike. >> reporter: you have got that right, maria. beat by 5 cents, 76 was the whisper number. 76 versus 71. revenue dropping from $4.6 billion to $4.4 billion. that's in line with estimates. inventory's down 10%. versus the prior year. so the inventories are well managed there. net income is also -- has declined by 4%. so that's it on nike. back to you. >> all right, thanks very much, darren rovell with the latest there. take a short break. the global financial crisis has presented big expansion opportunities for bnp paribas. plant's largest bank. we'll talk about that and the company's already purchased bank of america's prime brokerage business. up neck the ceo of barr barr of north america will be with us. the changing landscape of financial services. later on with the bullish trends in emerging markets continuing what about 2010? mark mobius the man on the ground overseeing $30 billion in emerging market assets. he'll be with me telling us what heebls are the new opportunities for 2010. s. well for bnp paribas the global road to recovery has also meant opportunity for the bank. there is a chart of research in motion. it is up 10%. the company reported earnings that were better than expected. a company reporting $1.10 a share based on an estimate of $1.04. the revenue as well higher. and as a result, the stock trades higher. take a look at the numbers. we're waiting on the conference call. where manager will talk to investors, but we certainly do have some reaction in research in motion. that is the story of the evening tonight. we'll continue on that story and tell you what comes out of conference call. and here we are live at bnp paribas trading floor. the global road to recovery, as i mentioned, has been real opportunity for the bank. in the united states the company has zeroed in on expansion. buying bank of america's prime brokerage unit for as much as $300 million, just last year, for an inside looking at the bank's strategy i am joined right now exclusively by the man in charge of u.s. operations north america's ceo everett schenk. everett, nice to have you on the program. >> glad you could join us with. terrific. >> glad to be on the trading floor, right in the thick of things. now the company has been seeing opportunity. tell me before we get to how you changed the business and what you're expecting, how does it feel to you right now, want landscape, financial services, in general? what way year we've all yes. >> yes, certainly an up-and-down year and lots of challenges but for us the opportunity's been tremendous. the change of landscape, in terms of players, the opportunities presented to us because of that, it's allowed us to fulfill some space that we hadn't been in before. so the opportunity's been really terrific for us. >> now, you've been expanding and building out further through asia, right? >> yes. but the main issue for us, the opportunity's just to -- you know invest strategically in age. so i have to say from a global point of view, apart from what's happening with for us across europe the first time for quite a while is completely aligned with expand next u.s., by product and at senior level. so we're quite excited. so we're going to get more than our share of capital over the coming years. >> tell us about that, in terms of products in the u.s. where would you like to see expansion in terms of products? i know energy's very important. >> very. >> you've got the afortus partnership. and what products can come out of these expansion ideas that you've got. >> the afortis side is a terrific opportunity. process integration. a physical trading operation in,ston at fmt which is tremendous. combine that with our derivatives in futures business. a broad commodities, project finance, you know oil and gasoline operation. that's going to be great. combining that with inside of our equity derivatives business. so we're going to have the leverage on all of that platform. i think you've met earlier in the day with kip and aaron, so you know what we are trying to do on the institutional investor side. so investing heavily in our sales force. we're certainly expanding and hoping to expand our prime brokerage busi