Well start with corporate earnings mostly the blues. Du dupont posted an earnings miss. How worried should we be about a global slowdown . Apple is upping the ante in the mini wars. Can the move to go small beat back challenges of the likes of google. Well begin with Earnings Reports that are reviving jitters about Global Growth. Shares of dupont taking a hit after earnings came in short. Dow component announcing plans to cut 1,500 jobs over the next 18 months. 3m matching wall street estimates with Third Quarter earnings but lowering the outlook citing current economic realities and u. P. S. Reporting earnings in line but revenues short of forecast. Its been said this morning that the last hour yesterday was the biggest fake pump in the history of trading given the news were getting this morning. It was a playaction fake and turned out to be a pick six. When i look at the numbers this morning, i want to distinguish them. U. P. S. , we expected bad. We gave you bad. 3m expected okay. Got objectinkay. Dupont, wow. Talk about good travel trust names and talk about bad ones. This was a case where there should have been a release saying were missing the quarter big. Why . Im looking at this is there any sort of does a company has to . Why should a company should or ought to . The shorthand by s. E. C. Had been if there was a 5 deviation as much as 10 deviation, you ought to come out and say it. Thats been the hidden rule. This violates the hidden rule. It would be right in the crosshairs of what the s. E. C. Does not like to see. They wont get in trouble. The tradition and custom has been if you are that way off n consens consensus, put out a release. Weve been talking about where earnings relative to expectations. Were not just cutting guidance. Were cutting jobs. Dupont will cut 1,500 jobs. This kind of environment hits home when you see that effect. Everyone says this is not 2008. This wasnt 2008 2009 feel which is, listen, we do have a lot of cash. Good. Jpmorgan saying that companies if you look at the s p 500 so far even just those reporting Corporate Cash at 14 , we keep on this pace a new record high. 1. 5 trillion. Theyre doing that. It should stem the impact of the fiscal earnings cliff. Dividends have been raised. Tons of money for dividends. 3. 6 lets put it this way. Stocks go down. Yields go higher. 4 by the end of the day. Lets get back to the Bigger Picture for a moment which is well be down sharply today. When you look at what was expected in the second half of this year, it was acceleration. Were not getting that acceleration. I dont want to get people you sound somewhat negative this morning. I expected Something Better from a big American Company that told us things were better. Its big dow stock. One Hedge Fund Manager i speak to frequently says everyone is moon walking back their numbers. They are moon walking back their expectations in terms of what had been acceleration. We do still have tail winds. You cant be positive when im negative. The world is off kilter. He said 0809. Come on. I think maybe you take the combination of the man with two brains, me and david, come back and say its not as good and not as bad. This is split personality. Jim, all right, so yesterday the low intraday 1422. When is your appetite wetted . I love 3. 7 yield. Its been the great way to be able to get in things. Its been a floor in this market courtesy of ben bernanke who we now know is out the door according to that column. I believe that will be the floor again as much as you may not like earnings, u. P. S. It was the floor. I think it will be the floor for dupont. Can we put a level on that . You talk about 45 a level where you have to buy dupont. I wonder why arent equities doing better . You have investors talking more positively about europe. You can look at german spreads. They are back down to preeuropean crisis and prefinancial crisis levels. People say if this hangs together ultimately, have we priced in the risk and is europe looking cheaper . Yesterday china, as we talked about. That may be one reason. We will be down because fifth straight quarter of gdp in spain going down. I dont think its helping today. When you look at it, they still havent asked for a bailout. Austerity is not helping the growth. There is no growth. Im not sure im willing on that front willing to go positive. The Tech Companies in europe are awful. If you sort of look at both of them and say theyre awful but which one is cheaper right now . Europe is cheaper than the u. S. For good reason. Thats the argument. Talk about no growth. Housing is still good. Regions financial not a good bank but that was an outlier. Whirlpool reports you are in the midst of a returning spin cycle inside a dryer. This was the First Quarter that made me feel, wait a second, you know how you spin around . I imagined a fraternity inside a dryer. Wonder if they ever tried that. Whirlpool has been a disappointor f e disappointer for most of the year. In the end, lets go back to what carl said. What was that rally yesterday . A rally that felt romney would do a good job. We have a situation macro versus bernankes bid under the market. If it werent Earnings Report season, it would be terrific. Its like what you were saying before. If the International Debate had been first Foreign Policy. How would that change the outcome . Reports do sort of keep with one theme which is split personality between u. S. Businesses and u. S. Consumer. The real question is can that relationship hold up . Then we had those companies that are tech that straddle both. They are western regional. And yet this whirlpool, thats a consumer stock related to housing. They said over and over again if housing gets going, they are now lean and mean. Theyre not enough whirlpools and coaches to overtake the duponts. They said we missed the consumer boat. We should have been more aggressive on that front talking about areas of strength. Talking about a Consumer Company, theres a Company Called apple, maybe youve heard of it. Its in the spotlight as the company is set to launch a smaller version of the ipad later today. Known as ipad mini. Analysts and tech experts expect the device whose actual name isnt yet known to be half the size of the ipad but larger than the kindle fire and as for price, most guesses, 299. Companys presentation will begin at 1 00 p. M. Eastern time. The event comes after apple shares had a good day. Best day in five months. Stock closed up 4 from yesterdays session, which was an interesting move. More of the same of what carl talked about. When it comes to apple, we talk about price points that would put it in a position to compete against the kindle or nook. They have always invented categories which theyre not doing this time. Those who want to take enthusiasm out of the event say why are they being suddenly a derivative Consumer Products manufacturer. Interestingly, they are streaming the entire event on apple tv. Arm holdings which is the chip for apple reported good number. Very interesting to see a Semiconductor Company actually rally. Especially after Texas Instruments. I didnt see anything about the walkers from walking dead as a reason why Texas Instruments didnt do well opposed to last nights conference. There wasnt anything about homeland being a reason why Texas Instruments isnt doing well or the playoffs or even the fact that megatron had a few points. They left out a couple of things. Everything else was in there. That was kitcheni insink, dryer everything was thrown in. Toaster was thrown in too. How do you explain coach in the midst of this . Very screwed up. I dont know. Hes on tv with maria. I felt lou screwed up and he would get america right and he did. Hes just a bankable guy again. That was a tricky interview. Hes saying that Fourth Quarter will be good. Everyone has to thread the needle in europe. Right. Well see. Called the Third Quarter a blip in the course of the year. Well see if that happens. It could have been down 15 points. Meanwhile, yahoo one of the mornings bright spots rising in premarket on the better than expected results. On the first Earnings Call since taking the job as ceo, Marissa Mayer outlined what she believes should be yahoo s top priority. Yahoo hasnt capitalized on the mobile opportunity. We havent effectively optimized our website. Weve underinvested in Front End Development and we splintered our brand. We have more than 76 applications across android and ios. All of this needs to change. Our top priority is a focus, coherent, mobile strategy. Cnbc and yahoo have a Business Alliance to share and coproduce editorial content. Half of the engineers should be mobile engineers. Sounds like there could be acquisitions over time. As small as 100 million or less. There has been speculation and you can imagine bankers are shopping anything to yahoo . They dont seem to be interested in going for the big bite, which makes sense. You know, she did not offer specific details other than kind of what you just heard in terms of the broad focus if you can use those two words consecutively on mobile. Well see. Generally speaking, analysts at least think it was relatively positive quarter. Microsoft search deal going to go away. That could hurt them in the not too distant future. The core business some say trades a little over one time even. I like this Conference Call. It was the beginning of what i regard as a little bit of realism from yahoo . They totally missed mobile. Shes going to put the company on track. I like this call a lot. There are a lot of interesting points about it. She criticizes directly the microsoft deal. She said yahoo will have to be a predominantly mobile company. Well hear from facebook after the close. I would have loved to hear we must be and microsoft, we must be google. Remember google did not do well. Isnt the question not so much identifying mobile as a strategy but monetizing it. No one has been able to do it so far. Its fine to say this is where we want to be. Where is revenue and earnings going forward. Where is the rest of it to quote Ronald Reagans great movie. Can you imagine if Scott Thompson has done this call. The company has done a ways in terms of credibility on the street. She has great credibility. Theres a great article in the New York Times on the front page about mobile. There it was. Open table and yelp they say are successful. They do not pass the test. Theyre too big. Its interesting. All of those are mobile applications that are vital and business is solely mobile. Again, if she can figure it out where others havent, there will be traction. And how about the fact she said our great strength is that we have no mobile strategy at all. Not that google has done a bad job with it. Google has too much inventory. When you look at the list and put these companies now and screen cuts off. You go from 11 inches to 4 inches. It changed the world. It will get figured out. Do you watch tv on a mobile . Im lucky if i can pull up the browser. I have a blackberry. No. Im in the dinosaur period. Do you you do watch games. Its a great thing to sneak when no one is looking and if that ad is good ill see whats going on down there. Check the menu. Watch victor cruz. It doesnt work on a blackberry. Other than football, i dont. That may explain why the department of security is moving from blackberries to iphones as we learned for one of their agencies. 17,000 users. Its just very funny. Im watching the debate last night. Im tweeting. You did such a great job. I dont know how you are there and here. Neither do i. Two things that didnt come up were covert action. Brief mention of drones, and then europe didnt really come up except for a throw in of greece. India wasnt mentioned once. Thats gotten attention as well. I just thought you had an opportunity to say, look, europe and maybe president should have done more. I remember in michigan romney specifically said, listen, europe is up to their own. I look at whats happened this morning and i still think europe is behind a lot of weakness. When we come back, what will it take for facebook shares to reach Higher Ground . Social networks set to report after the bell as jim said. Well take a closer look at what the charts are telling us as the fed gets ready to kick off a two day meeting, theres speculation bernanke is unlikely to stick around for a third term. One look at futures. Down triple digits. Well see how today goes when we come right back. Tween listeninge numbers. 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Chase allows us to buy Capital Equipment to be able to manufacture in the states to the scale we need to be a global company. With a little luck green toys could be the next Great American brand. Find whats next for your business at chase. Com mainstreet 3m the latest company to miss on the revenue side adding to the string of companies who have not managed to hit growth on the top line raising concerns about growth going forward. Well dig into that in just a second. First, want to take a look at whats happening with facebook shares as well. Facebook is set to release Quarterly Results after the bell. Analysts expect the social network to earn 11 cents a share in the Third Quarter with revenues of 1. 23 billion. Investors will look for evidence that they have a game plan to grow revenues. Facebook shares lost half of the value since the company went public five months ago. Jim, theres this big article in the journal yesterday. A former colleague over there basically saying facebook is going to be a game changer maybe we see a bottom in shares. What do you make of that . I read that column. I was blown away. That was the most positive facebook column ever. A gift to investors. Wow. Can i just ask because you worked at the journal. That was a highly unusual promotional piece making me feel that there is revenue to be found here for facebook. Whats interesting is to see it take a hurt on the street for analyst cal pieces as one of the longest that theyve done. Its because hes sticking his neck out. That takes perhaps 900 words to explain and defend that kind of position. It could be a moment. We do not have that long before we realize if facebook does a better Conference Call, they have to do a Conference Call that does not sound like a bolt on Conference Call. I would say heres the new revenue stream. That gets the stock going. They should just read the journal. Get out there and read the article. Read the article. Better than what they did last time. We had mobile. We had mobile. We had mobile. We had mobile. Zynga. Its still too early to buy zynga. Is it . Just want to make sure. Im glad you added that. We have a Technical Analyst on facebook later. What did they say . Well find out. Last night cramer over here talked about whether you should set Great Expectations for the market. More classic advice. Jims mad dash is next. The biggest earnings excuse of the day and which company is behind it. As we go to break, heres a look at futures. Dow down 145 points. Tuesday edition of mad dash starts right now. If i gave you a monster beverage right now, would you drink it . I would be concerned. Im really starting to think that maybe i dont know where it will bottom. I have to tell you i think its a little bit of trouble today. Im taking the beverage back. How worried were you when you got this news . We have been saying theres going to be fda action, regulatory action on mad money. The reason weve been saying that is because were in a different year. Concussions on front page of the times. Drinking this stuff i felt that my heart races. I had to eliminate this entirely. A lot of people have been switching to red bull. I dont think thats the way to go. We should be like david faber. They serve pomegranate smoothies at his house. I was surprised that romney didnt integrate clean coal into Foreign Policy. You can only take Foreign Policy so far. Talk about class size. Your tweet about larry being unhappy was it for me. That was incredible. Well get opening bell after a short break. Apple hoping for big things by launch of the smaller ipad today. Should you believe the hype . We will talk to apple shareholders about what they want to hear. Could bernanke soon hang up his monetary gloves and Robert Shiller is ringing the opening bell. Well find out why whe