Orders looking flat. Consumer demand is measured. Capital goods coming out as a measure of corporate demand, looking up. I will bite you. [laughter] easy, easy. Dont do it, i will lose my contract with adidas. 9 45, pmi, purchasing Managers Index. A lot of earnings. Noble, General Mills, monsanto, bed bath and beyond. I need towels. Gopro is pricing tonight. 2123 . Begins trading tomorrow. President hosting shimon perez at the white house for lunch. Beyonce and jayz kicking off their first combined national tour. Not only are they married, seeking together. The summer concert series. They are not the two that went to florence. No. Kanye counts them as friends. Odds on how long that lasts . This is number three, kardashians. We look at the inner tame industry. Stocks, bonds, currencies, commodities ugly yesterday. 0 points. , down 10 yields have come in, 2. 6 to 2. 58. Nymex crude, 106. 56. 12 on under 11 to above the vix. Dow down. Two year yield gets my attention, creeping higher. Wor
Whats next for the markets and your money. And microsoft man. Could the boss at ford be the right person to turn around microsoft . We have all of that and more tonight on nightly Business Report for friday, september 27th. Good evening, everyone. Its cleanup in aisle 6. Thats because it has been a mess of a week for the retailer, jcpenney. Worst week ever for its shares, down 30 . The Department Store has prospered for more than a century, through the great depression, to world wars, the Online Shopping revolution, but now penneys is in a fight to survive. Samestore sales down eight quarters in a row. A savior brought in and then kicked out. His turnaround plan an unmitigated flop. Then a new boss, the old boss, and yesterday a plan to save cash so they can get through the holidays and into next year. Still, the company is resolute, launching new boutique shops within its stores today. Court reagan has more. Reporter its been a long week for jcpenney shareholders. The beleaguered Depa
Military discussion around rounds and moving towards what the consumer and commercial prospects are. A lot of discussion this week at facebook attention week interested in buying into this area. First, i want to get to this lead, which is microsoft. So many different moving parts of the company. The incoming ceo starting to make changes to management. The out going ceo speaking at oxford union about many things, including describing microsoft as a two trick pony. Also suggesting it was a bad move to move into hardware late in the game to go along with the software business. Bloomberg news also reporting behind the scenes happenings at microsoft the past few months, including that Steve Ballmer struggle to get the board approval on the 7 billion plus purchase of the handset business. On the development, i want to bring in matt mcewan. Seattlebased Venture Capital firm. You are right there alongside microsoft. Quite know the new ceo well. Starting with what Bloomberg News is reporting. A
Around 1840 on the s p 500. Nobody was particularly talking about that as a technical level but we did see suddenly a raft of sell programs come in a little after 11 00 as we hit that 1840 level and the markets just dropped lower. There is two reasons why the dow is underperforming the s p 500. The first is that there are three dow components out with earnings and all of them are trading to the down side, not because they were necessarily terrible earnings, but investors sold right on the news. Johnson johnson beat but the outlook was disappointing. Travelers had a very good beat, good numbers, but their commercial lines have been slowing down. The other reason the market is weak, the dow is underperforming, is high priced stocks, stocks over 100, are weighing on the dow and having a disproportionate effect. We have had a lot of high priced stocks in the dow recently. There are now seven over 100 and four of them are now having a negative effect on the dow. Back to you. Bob, thank you
Shareholder is describing carl icahn. He is called a rater trying to cash. Im ron burgundy and i will read anything in the teleprompter. It seems the anchorman has been everywhere, lately. He has the viral marketing blitz, a new business of buzz. Breaking news and a new name emerging in the microsoft ceo search, the board considering qualcomm ceo steve mollenkopf. We dont know yet, but one candidate who may be fading is forbes ceo mullaly. There were concerns about his lack of technology experience. They want a new ceo, ideally, before the end of the year. Tom giles, good to see you on the east coast. It is like bloomberg east here. This is a big deal. They are busting the phones to find out what they heard, tell us about it. It turns out we found the name of the person, he is the coo of qualcomm. A well regarded company and has done well in terms of the stock price and growth. They are a leader in wireless technology, specifically the chips that a lot of phones you and i use. Microsof