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This is the cbs morning news for monday, september 8th, 2014. Good morning. Im marlie hall in for annemarie green. This morning were watching the potential for Severe Weather in the southwest. Heavy rain and flash floods are possible from Southern California to yutah. Yesterday heavy rains and drenching rains hit los angeles. Water poured down hillsides. On some streets the water was over 2 feet high and powerful winds snapped large trees like match sticks. When trees came down i couldnt hear it because the thunderstorms were so loud. It was pounding. More wet weather is expected today. Meteorologist eric fisher of our boston station wbz says all the rain is fallout from Tropical Storm norbert. Well, the tropics have been very active this season, not so much in atlantic but certainly in the pacific. This was norbert ....
Discussions is the fiscal cliff. The annual meeting of the securities trade group is taking place in new york today. And the looming risk the u. S. Economy is sure to be on the agenda of participants. Well be joined by a few of those this morning. Including gary gensler. Chet heick will also be joining us. On the lighter side of thing, well have a rock star among us this morning. Yeah, we mean this literally. Not just the rock stars we usually have. John popper of blues travelers will be joining us on set at 8 40 to talk about the business of music. But first, lets get over to joe. You have some breaking earnings news . I do. At about six numbers for dupont. Ill give you the one that is comparable to expectations. And that is 44 cents which is versus 46 cents for an estimate. But first the company said it posted a lot of a nickel from continuing operations. Then it said it was 32 cents excluding items. And then it said the bottom line was actually a penny, but excludeing everything, it ....
Modest growth as new initiatives in mobile and other areas kick in. The stock went slightly crazy, got a huge boost after alibaba rolled its results. Forget what is happening at yahoo at this point. Its almost insignificant at this point. Yahoo owns 24 of the chinese ecommerce alibaba. They made more than double the amount they made for the same period a year ago. Revenue jumping 66 to 3. 1 billion. Alibaba plans to file paperwork as early as next week, thats what everyone is excited about, about this potential ipo offering on an american exchange. They are debating whether theyll go with the nasdaq or the new york stock exchange. The sale could be the largest ipo in American History if the companys valuation could reach, what some people are saying could be as high as 200 billion. Jerry yang of yahoo always gets a hard time because he is he the one that made this investment. People thought he screwed yahoo up forever. God bless ....
Aftermarket it jumped higher. 37 to the ounce. The commodity has risen 4. 5 in four sessions. Adam can you say Short Covering . Pc shipments fell 5. 9 yearoveryear. Top three were lenovo, hewlettpackard and dell. Liz were bringing a top exec from lenovo to talk about that. Terry mack grawe stepping down as ceo and president of ma grawe hill financial. Douglas peterson head of the s p ratings services. He will succeed mr. Ma grawe who will remain chairman. Adam nokia unveiled the newest Lumia Smartphone and the lumia will have a 41 mega pixel camera. It will launch with at t july 26th t will be cost 300 bucks with a 2 year contract. Liz it is bright yellow. How about that . Federal government had the biggest june surplus on record after receiving payouts from freddie mac and fannie mae. After the bell starts right now. Adam it is an historic day. We want to get right to the ....