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stock? take a look at what it s doing right now. it s up nearly 5%. of course, it already has a big buyback and the thought of it being bigger is something the investors like. arguably the most successful of all of the activist investors going after one of the largest companies in the world and pushing it up 4%. even apple responded. they said that, quote, we appreciate the interest and investment of all of our shareholders. tim had a very positive conversation with mr. icahn today. i tweeted out a little while ago that the translation of that is, simply, gulp. and to think this was one time a target of shorts. you had david einhorn in there last year. exactly. shorting the stock. and now to think carl icahn is calling it undervalued. certainly one to watch today. much more coming up over the next couple of hours, i m sure. also, it s called the hindenburg, and it has the trading floor buzzing, because the omen is back in play right now. so even as stocks ar ....
but the midpoint of your inflation projections are below your 2% target through 2016. is that inconsistent with the lift off during that time. is there a case that your threshold should be supplemented with a lower balance right, you won t taken if inflation is at or below some lower balance? in the latter part, of course you are seeing interest-rate projections and inflation projections separately. each individual making their own projection. i think you are right i. that is one of the reasons that i think we can be very patient in raising the federal funds rate as we have not seen any inflation pressure. i m having an inflation floor. that would be in addition to the guidance we are discussing how we might clarify the guidance on the federal funds rate. that is certainly one possibility. i guess an interesting question there is whether we need additional guidance on that given that we do have a target, and of course implicit in our policy strategy is trying to reach ....
manager. john halfer ford income trust. fedex blasting away that earnings report leading to a huge rise in the value of that stock. very shortly we ll have oracle reporting as well. dennis will report that. we also have surprise visitors coming in including ron paul by the way toward the end of the hour. tim, i want to go to you first, if i may, talk about who bernanke, bernanke is always talking about the economy. always talking about unemployment motivating his decisions but to what extent was the market reaction the basis for his decision? that is, do you get a sense bernanke was playing to wall street in his decision today? if i would guess, david, i would guess he is playing to the housing market, maybe not so much wall street. we re stock-pickers, not fed-watchers, but i think he was really spooked what the backup in rates could be doing to housing because housing has been one of the biggest drivers in the consumer led turn around. i think he was placing to the ....
in separate directions today, one is the dow s best performer, the other the worst performer on the s&p 500. let s get to nicole on the floor of the new york stock exchange with that. reporter: hi, good afternoon, liz, welcome back. taking a look at a couple of technology names, folks, the nasdaq is up over three-quarters of 1%, but we have a few names here, both ibn and adobe. ibm, which has been one of the best here of the dow 30, right now one of the worst performing this year. i mean, you can see it s gaining 3%, but it has been under pressure for the year 2013. and adobe making it one of the worst performers in the s&p 500. well, it s, let s see what it s doing right now, down 3.6% following the quarterly report. there s a look at a year to date. you can see it has run up, but today pulling back some. we ve had a lot of mergers today, liz. we see a rally on our hands at least for today after two weeks of selling for these major averages. back to you. liz: doesn t ....
also sac is firing back at the u.s. government. the wall street journal reports the firm sent a memo to all employees with a rebuttal to allegations that steven cohen failed to take proper steps to prevent insider trading. sac says that evidence shows that cohen didn t read the e-mail at the center of the allegations. that e-mail in question is from august of 2008. the s.e.c. says it reflected, quote, clear possibility that information about upcoming dell earnings was improperly obtained. the government says the e-mail was forwarded to cohen s office and home e-mail addresses. in a report prepared by co-haens lawyer says that so many e-mails landed in his inboxes that he opened just 11% of them. interesting. dow component, dupont, if you saw the top of the hour, i don t know, i recorded something about it. we knew it was coming. alan coleman will be on the show later today. at this point, it is either a there is some stuff in here. some net numbers just one net ....