Of europe is hanging to some green arrows. Apple disappoints and revenue guidance is short of expectation. Meantime, the overall market set for a missed open after a big mix on durable goods orders and another big driver of todays market is earnings, ford, comcast, pfizer some of the names making moves in trading and well break them down. First up, well talk about apple and shares taking hits after betterthanexpected quarterly profits they sold a record 51 million iphones in the quarter but below expectations, the Current Quarter guidance short of consensus and an hour from now well get information from john scully who will join us at post nine. We said how easy it would be to set a new record which they did on phones, but no one expected phones to come in quite this low. No. I think theres a big schism developing, the analysts have really turned on apple now. This has become an unruly Conference Call. And youll see in a moment, but the analysts are still talking about are you still a Growth Company . These are questions you dont expect to be asked on an actual apple call. And another one asking whether this has just been peaked and were kind of done and, you know, obviously cook arguing no and theres some good pushback. There is a question of mobile payments, for instance. Thats not dismissed, but the fact is they didnt bring it out. Theres a lot in here that i think people are going to say its over. I urge people to look at the initial question from Katie Huberty about what they expect in the future about iphone and oppenheimer, the cfo, has some interesting points about channel and inventory. No one is going want to listen to anythings on positive on apple today and i think the most damning thing when you come to carl icahn is the interchange about the buyback, carl, where basically theres a question about when is the Company Going to be buying back stock and the answer is we buy back stock all the time. Thats not the answer that carl icahn wants to hear. He wants to hear, well, wait a second, weve got a real price break here and perhaps you should be buying right now. Ben righteous, again, saying is this a good level . Your stocks going to be trading around 500. Tim cook right back, listen, if it doesnt change today whether the stock goes up or down. No, carl icahns going to say this is when you should be in there buying. Lots of missed opportunities by apple to say the right thing but, still, a question is maybe just all smartphones slowing down. Yeah. Well, the market for phones is growing at a multiple of apples growth. Right. 7 year over year. A bunch of questions. Thats really out there, they are talking at, hey, listen, your mac is a dominant product and so why isnt your cell phone a dominant product. People will argue that its over. Yes. Do you believe any part of it . No, i dont think its over. The problem is the presentation. You said yesterday the Conference Calls are a work of art. The arc was very bad because, you know, you start out with concept of people at home might really not understand this, but you start out with the anytime you start out with the following, which is, you know, thank you, im sorry to be so granular but sometimes this really does control. We are pleased to report the result of apples First Quarter of 2015, and establish new Quarterly Sales for iphone and ipad sales, thats not what anyone wants to hear, but if you work at apple, they report the expectations, but we live in an expectations game and tim cook knows that and so does oppenheimer and what they are saying is we dont care about your expectations, analyst, were doing this for the average person who owns the stock of apple and the average person who owns the stock of apple totally takes their cue from how the stock is doing which is horribly right now. What is the reason to own it . Is it the iphone 6, is it promise of some curved screen down the road . I mobile payments issue will come up. Which he hinted at last night. You look at the netflix runs his call and its conversational and its certainly not antagonistic. Its an uncomfortable call to listen to and you are crawling in your skin saying they dont like tim cook. If you think tim cook is good or bad, they just dont like him. You end up with this kind of feeling, wow, theyre a great company, theyre not good enough, how about google, how about microsoft . The reason you would own it is nine times earnings and if they have Something Special it will happen but its not because of a compare this to a seagate, a company most people dont put in the same category, buying back stock aggressively, a man of the stock, theyre not managing the stock, its the game were in. Yeah. One last question, at the very least are we in a period now where they are destined to be ala microsoft more cyclical, more the stock will trade around product announcements the way Mature Companies often do. My real worry is that they are secular, and theres a piece talking about the slowing of the whole cell phone group and the subset is theyre not even keeping up with the slowing. They dont have the right product. Theres a lot in here. Theres this very crucial moment where theyre talking about supply constraints but also talking about having too much supply. I would like to think im a smart reader of Conference Calls, i did not understand that. We need more clarity. Were not going to get it. Obviously apple will open down 7 today along with the markets poised to open mixed today. The dow is looking to end a fivesession losing streak and the nasdaq, of course, being dragged down by apple and today the fed begins a twoday policy meeting with the last one with bernanke as chairman and in the meantime the president will deliver his state of the Union Address tonight. Hes expected to renew his call to raise the federal minimum wage in an effort to tackle income inequality. Later in the program well talk with former congressman barney frank about what he wants to hear about the president and be sure to watch our live coverage of the address tonight 9 00 p. M. Eastern time right here on cnbc. And it will be you and kelly kevens and it will be fabulous and i think that people have to listen and why they have to listen is because there are so many crosscurrents in america, obamacare, no one is signaling thats any good at all for the economy, cold weather a lot of the people i speak to say cold weather is a real problem. We had the unemployment cutoff that matters, food stamp production these are all federal issues and finally the absolute wrangling of the shutdown of the government was horrendous for our economy. Which do we blame obamacare for durable goods, do we blame weather, do we blame the cutoff in Unemployment Benefits, but the one thing we cant do is saying the government is doing anything to help. Thats absolutely right. Thats why i want to hear what you have to say. It may not be the occupy wall street kind of speech that some are predicting. The old Pecora Commission is what i call it. There was a investigation in the Great Depression about the five families that were so wealthy, if you go back and read the transcripts youll realize what class warfare is really. Were not in a class warfare mode. We have a president who will not address any of the topics i just mentioned because those are sore points. They sore points dont come up. Yeah. You said last night about the market. The things that were working so well last year, cars, housing. Right. Retail have essentially if they havent fallen out of bed theyre certainly off of their highs. Rth is hanging by a thread. And you have a lot of words in your words who are out of position. Yes. This was a moment when you suddenly had to say, do you know what, i needed to be back into dominion, back in con ed, take a look at kimberly which has held up incredibly well with a good quarter. I think people were kind of leaning towards the industrials and those stocks were up the whole day and finished very strong. When you go over the ford quarter, north american is extraordinary. Europes still bad. Autos at least going into the quarter were still good. Housing, i dont know. Do people really go out and buy houses in the freezing cold . I dont think so. D. R. Horton would suggest the sales pace for january is not terrible. No. But then ive got ethan allen saying you cant get traffic to the stores when its this cold and when you look at chicago. I said, i trump you, i look at florida and california, and why arent they strong . He said, no, they are strong. Where its warm ethan allen did great amount of business. That would lead us to think that the weather theory is not all wrong. But, then, Howard Schultz comes back and says, no, no, no, its a secular trend. I guess what im saying, carl, this is one of the harder moments ive seen in my career to really make sense of things, but the president could help by saying, look, the federal governments got to get back in the game. Not the fed, but the federal government has to get back in the game of helping, the states are, as the states coffers burgeon were seeing the states do good things, but i look whats coming out and i say to myself, do you know what, we had a bad Fourth Quarter. It was bad. Yeah. Were going to get an advance read on it on thursday when we get a number. Maybe with a three handle but well see. The employment number is bad. Today if were down six on the dow we havent done that since august, the middle of august, do you feel like this breather that we appear to be looking at is real today . When you come in and dupont reports a really good number, it is, someone will probably say, wait a second, gmos, genetic weapons, i love this contrast. Genetic weapons versus insects raises hopes and fear its dupont and monsanto and on the back its a facetious piece about chipotle saying the Industrial Food Image Bureau is against mon santa and dupont. Dupont is doing the right thing. Pfizer delivered a number that is quite good. We got more price tag rises for gilead and celgene. Well walk through a bunch of the numbers when we come back. Well talk dupont and pfizer and ford as well among the Companies Getting a boost from earnings news and later on Nobel LaureateRobert Shiller will break down the caseshiller home price number and hell talk about the recent jitters in the stock market and housing. One more look at futures dows down five for the First Time Since november. Welcome back. How is everything . Theres nothing like being your own boss and my customers are really liking your flat rate shipping. Fedex one rate. Really makes my life easier. Maybe a promotion is in order. Good news. I got a new title. And a raise . Management couldnt make that happen. [ male announcer ] introducing fedex one rate. Simple, flat rate shipping with the reliability of fedex. [ male announcer ] introducing fedex one rate. Some Brokerage Firms are but way too many arent. Why . Because selling their funds makes them more money. Which makes you wonder. Isnt that a conflict . Search proprietary mutual funds. Yikes then go to e trade. Weve got over 8,000 mutual funds and not one of them has our name on it. Were in the business of finding the right investments for you. E trade. Less for us, more for you. The funds prospectus contains its investment objectives, risks, charges, expenses and other Important Information and should be read and considered carefully before investing. For a current prospectus visit www. Etrade. Com mutualfunds. Another big morning for earnings. Dupont beat the street with its Fourth Quarter results and announced a new 5 billion Share Buyback and pfizer also beat forecasts with their q4 numbers, ford and comcast, the parent of this network, seeing their shares rise in reaction to their Quarterly Results. Ford beats by three cents makes money in north america and losses in europe are smaller and, again, reiterating the claim that 2014 pretax probably lower than 2013. You go to slide nine in the deck and its really important because you see the Fourth Quarter pretax results. Here you got 1. 7 billion in north america, minus 571 million in europe. Heres interesting brazil weakening so badly next to argentina and argentina going the way of venezuela. This seems to be without a doubt a sign of the times. Europe getting a little better. South america not helping and United States on fire. Congratulations to ford and to the team there because theyre brimming with cash. Record market share for them in china at least. Yes. And china, you know, china needs to be a bigger driver for them. Its not there yet. A lot of people are worried about china. If you are audi you are certainly not. Selling a lot of cars there. Dupont beats by four cents. Another 5 billion buyback, but its raining 5 billion buybacks. Yes, it is and coleman has done a remarkable job in reconfiguring that company more into the ppg mode and were all in these revolutions away from boring chemicals to high value. Dupont is a food company. Its feed the world and health and safety. These are working. Its the regenesis of a company and kullman has got it going. She is about as she would tell you enzymes. Pfizer 56 beats by 4 cents, again, though, the loss of exclusivity. We saw what happened with lipitor a few years ago. Now its vyiie viagra down. It was up nicely last year. Americas become the stock that people want to own because its done, you know, it hasnt done much at all. Bristolmyers reinventing itself, people dont like right now. If i had to put the panoply of pfizer at 30 and merck at 53 and bristolmyers at 50 its definitely bristol i want to put the money on. Comcast 66 cent and misses on two cents on a higher tax rate, and nbcu up and broadcast tv and ocf up 55. Its the way we have to measure ourselves, the dividend boost, this is a company that quite recently said things are great at a grnce and they put out another number and things are really great again. I want people to look at comcast, during the period we started worrying about argentina, turkey, south africa and china, comcast went down. What should you have done . How about bought comcast . At 136 billion the market caps now bigger than disney. Do we have to worry about china with comcast . South africa . Argentina, comcast, i mean, this is what people have to think about. Right. They have to think a little broader. Stop thinking about the fed. Stop thinking about the s p. Start thinking about Brian Roberts and, again, you can say jims a house man. Have i ever been a house man for anyone . Not even my own house for that matter people that know me well. That doesnt mean you wont Pay Attention to the emergency meeting in turkey today. If you are going to go nonsecular, youre not going to get a lot of money. Look at the way egypt was at one point a great gateway to africa. If turkey wants to get serious for those of us who remember the initial turkey away from the army running the country and going to a less secular, thats what caused deval after deval after deval, if turkey wants to go the wrong way, do you know what, you dont need to own yapi credit, but we have people come on our network and they say dont worry about emerging markets, they must be rich to say that because if we have individuals who are not worried about emerging markets, i feel bad for them. They should. Theyre reaching for yield the way people started reaching for subprime mortgage. We could reach for yield and be stupid. But i got to tell you are as dumb as plywood, no offense to Louisiana Pacific for making a remarkable turnaround if you invest in emerging markets. You saw the ads, is that what it is . You think you know what youre doing. I invested hundreds of millions of dollars and i did not know what i was doing and i was up for every hour except for three trading into panic at night, trading into south africa, trading in finland, and you couldnt beat me . You couldnt beat me and now youre coming in and trying to make money, please. No cry babies today on the emerging markets. You want to reach for yield, go to mars. They got big field. 5 on the mars bots. Well run out of things to throw on the set. I get angry, if you want to lose money i got a million ways. Take the seahawks and not the points there, thats good. Even up when we come back Richard Sherman. Cramers mad dash if that were not mad enough as we count down to the opening bell. Look at futures here and well walk you through the other news especially in retail, jcpenney and abercrombie. A good split, a new chairman and ceo split. How about sales more squawk in just a moment. Afghanistan, in 2009. Orbiting the moon in 1971. [ male announcer ] once its earned, usaa Auto Insurance is often handed down from generation to generation. Because it offers a superior level of protection. And because usaas commitment to serve current and former military members and their families is without equal. Begin your legacy. Get an Auto Insurance quote. Usaa. We know what it means to serve. vo you are a business pro. Seeker of the sublime. You can separate runway ridiculousness. From fashion that flies off the shelves. And you. Rent from national. Because only national lets you choose any car in the aisle. And go. And only national is ranked highest in car rental Customer Satisfaction by j. D. Power. natalie ooooh, i like your style. vo so do we, business pro. So do we. Go national. Go like a pro. Her long day of pick ups and drop offs begins with arthritis pain. And a choice. Take up to 6 tylenol in a day or just 2 aleve for all day relief. All aboard. Oh, yeah a few minutes before the bell on a tuesday morning, lets get cramers mad dash ahead of the market open, you got a couple of Different Things to look at. I find companies that do things this is my andy dufraim theme, get busy living o