Look at how its weighted. Theres a big move there with Microsoft Holding the gains. We hit the high of the session minutes ago. Much more on steve balmers resignation, but now, much more importantly, who gets the nod as his successor . If you got excited about a housing recovery, hold your horses for a moment. New home sales for the month of july fell 13. 4 to a 394,000 annual rate. That is the lowest number since last october. Rising Interest Rates, of course, could be the culprit with the 3 30eyear jumping but its important to remember monthly data are volatile and subject to large revisions. Remember, its just the opposite this week when we got existing home sales, totally opposite of new home sales, but that number jumped to the highest level since 2009 due to buyers racing to beat rising Interest Rates, but, again, we dont see that with new home sales. Interest rate on 30year mortgage nearly doubled since may to around 4. 85 , still low a fox exclusive with the ceo of the First Housing Company to go public after tripoint homes, making several homes in america, and the stock struggled since the january ipo, no doubt, because of the slow down here. Shares of microsoft take off after news of steve balmer leaving in 12 months. Live to nicole on the floor of the New York Stock Exchange. Looking at the stock and his legacy. Right, his legacy, been with the company for 30 years, liz, at the helm, moved up to the top spot, but under scrutiny as of late because of microsoft, surface tablet was not a huge success, and has now announced a reorganization of the company and is waiting now until he can find a successor to step down from the chief executive role looking internally and externally for the best candidate. The analysts are mixed. Some talk about an external candidate bringing in a new climate for the company while others say theres so many great candidates within microsoft. Either way, we know that within 12 months, steve balmer will be retiring after over 30 years at the company, he wrote a memo to the employees at microsoft, talking about how much he loves the company, but they are moving into smart phones and tablets and expanding in another way, and he realizes that maybe now its time for a change. X box, that has been a winnerment i dont know how no doubt. Liz certainly, as the ceo, got to give him credit for that. I thought youd ask how many wed have in our home. Liz more than one . Just one, but we need a second. Liz all right. Im the mean mom in the room here, not allowing that. The nasdaq, get to that. Of course, microsoft doing serious damage control today after yesterdays three hour trading freeze which left investors and, of course, traders in the dark. This morning, i went to the nasdaq, down in times square to speak oneonone with the nasdaq ceo about how that flash freeze impacted all investors. Nobody wanted to be down for three hours, and if we had been quite wreckless, we could have been up sooner than that, but the procedures in place, the industry in place workedded well so we would say to any Technology Based company, were not perfect; right . Were 99. 99 perfect. Were not perfect. We have problems. If we do, we maintain a fair and orderly market. Thats what we did yesterday, and its important to recognize the fact we didnt trade for several hours. If youre a traditional long investor, mom and pot institutional investor, that three hours doesnt matter. You buy in the stock for the longer period of time; right . The fact is, every Single Person was in the same situation. Nobody was relatively advantaged or disadvantaged because the market was down. Liz ill say that probably didnt sit well with some very sophisticated mom and pop investors who jump in and out of stocks. Theres many out there. We talk about that, and more including what i asked the ceo to do, which was give me a 30second pitch. Pretend im twitter, not public, how do you convince twitter to go public when you have the facebook problem in the ipo a year ago, may, where that ipo was not smooth on the nasdaq, and then, of course, yesterdays flash freeze. Charlie also just off the phone with bob, Fox Business Network not just taking one sentence at its face value. Charlie jumped in here, he has breaking news on the conversation with bob, but hes also been working the phones about the fcc investigation that may be in full swing soon on the situation. The Dow Jones Industrials on track for the third weekly decline in a row making it the longest losing streak since november 16th. To the floor show. Traders all over the place. Teddy, lets not make more of this than is necessary. Three weeks in a row, a slow grind down against a slow grind up that we saw for quite some time. Well, yeah, i mean, listen, you know, yesterday and today, obviously, up is better than down, liz. You know, weve done a lot of short term damage, very, very slow time of the year. This week, next week, you know, you cant really make much of the volume, but there really isnt in, and its probably a mistake to sell a dull market short, but, you know, i think well take it even if most is microsoft, but whats interesting, and the question would be whats more important . The new head of microsoft or new fed chairman . I wonder what has a bigger impact on the market . Liz glad you brought it up. We have peter barnes live, and, of course, in jackson hole where nay are all congregating, and as i look at treasuries, their behavior, especially the yields, really respond to what comes out of that kind of meeting, specifically were at 2. 8 for the 10year yield. Earlier this year, it was 2. 9. What are you talking and what are the traders talking about . We are bumping up against the 292 level that jappedded overnight, i believe happened geyser night, i believe, wednesday night. Theres a yield for certain, but as you saw how it was priced in quickly, i think its really indicative of the way that housing is starting to look at things, and at the same time, how dampers rates for so long were just ready to bust out of the gates and, of course, we had that. With really, not a lot of volatility. Liz not a lot. What do you expect next week, particularly quiet, teddy, is it not . Very, very quiet, liz. I mean, you know, you can have, you know, its a tossup. Maybe we have a short term bottom here, maybe things drift higher, maybe not a big news week. Its really all about the fed. We are hostage to the fed. We are hostage to the feds tapering, whatever they are doing, and i guess now were hostage to who replaces ben bernanke. Liz yeah, i know. Were not hostage to lower oil prices. I wish we were. Allen, everythings jumping, looking at a pretty significant move up, well, one and a quarter percent, something more exciting than seen in the past for crude this week. Unfortunately, for us going to the gas pump, not sod good, but crude oil rallied above 106. 20 and settled above that. What i see right now is higher levels for crude oil. Theres a lot of world events coming a, disruption in the middle east, problems over in israel and lebanon, problems in egypt, going to keep a good pressure on the market, up, and i think were going to see 108. 50 to 110 in crude oil in the next week. Liz each time they sit in the chair, i get something different. You know, mike said 102 or 103. Great seeing you. Thank you so much. We love the perspective from the traders. Have a good weekend. Closing bell ringing in 51 is minutes as we speak about microsofts ceo, balmer, announces he quits in a couple months. Who replaces him . Thats the question. Can microsoft build a smart phone and tablet to beat apple and samsung. They tried with the surface, had popup stores, didnt work. We have the angles, plus, two smart watchers gaming who will run the company. Texting addicts, pay attention. Text speak has been around so much longer than your teens have been doing it. It was used by a True Authority in the queens english. Youll text omg and lol when you find out who. She loves a lot of the same things you do. Its what you love about her. But your erectile dysfunction that could be a question of blood flow. Cialis tadalafil for daily use helps you be Ready Anytime the moments right. You can be more confident in your ability to be ready. 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Butetting heartburn and then treating day after day is a thing of the past. Block the acid with prilosec otc, and dont get heartburn in the first place. [ male announcer ] one pill each morning 24 hours. Zero heartburn. Liz at some point or another, many of you owned the shares of microsoft. Well, shares stock down 35 since the ceo took the reigns from bill gates back in january of 2000. It looks like todays announcement that balmer is retiring gives investors a reason to buy. Should you jump in now . Jamie cox, managing partner, and vick, ceo of jaguar financial, to talk about this. Starting, jamie, with this question. Now that Steve Ballmer leaves, does that make you excited about the stock . Yes or no . No. This company, i think the companys fine, but it just, the ceo being changed does not change my opinion about the stock one bit. If you own it into the announcement, youre fine, but i dont think this gives you any decision because you dont know who the know ceos going to be, and the business has not changed yet. Its not a buy. Liz vick, when your daughter says, how do you i look, you dont say fine, and thats like saying ick. Jamie said fine, and not to take this video out of context, running around years ago getting excited, but, vick, do you like the stock now that hes out his way out in very much so. I think its a huge change. I think, ultimately, theres going to be a culture change within microsoft. Its been very engineering oriented. I think the new ceo will come from the outside, despite the fact that they are in very strong candidates internally. I think the special committee with bill gates on it, thompson heading it up, looks for p somebody dynamic to transform the culture. I see a massive change in microsoft. I see 45 on the stock liz 45 . Its not seen that absolutely. Liz i cant remember the thats time it saw that. Who do you think has the lead when it comes to the race to be ceo . I have two names. Fist is tony beats, an internal candidate, former ceo of skype, the only part of microsoft that uses a verb, and its the most exciting thing going for it right now. He would be the leading candidate internally. But if they are playing it safe, playing in the enterprise business, you might go for a mark herd at oracle, or if you want to go out there and jump out in front, youd want a social candidate like a jeff wieners. Theres some candidates out there, but i think microsoft goes safe, nothing transformative, but a mike herd type candidate. Liz i like the names, but i think that microsoft is still very much part of the harder wear opportunity, vick. You know, they have the xbox, sweets of packaged software they sell. Who are your candidates . Well, again, i would say somebody like nikesh from google, rumored to be the ceo of yahoo. You need a Marissa Meyer type to come in and transform the organization. The organization is mar too engineering oriented as i mentioned. I think it has to be a little more hip, a little more cool and seeing what comes around the corner, and thats what they have not done historically. They missed the move on smart phones, obviously, and missed it on tablets, and we cant afford to do that going forward. Liz well, that sounds like say, for example, hp, while the stock has performanced well, they still struggle when it comes to the hardware pieces that are to be exciting, but cant have a great smart phone, so that i guess major issue might be, is this company just too big to govern, jamie . Do we need parts of it to split off . Thats a tough one. Microsoft is not your Typical Company that has verticals easy to split off in terms of your consumer, the windows business, consumer, enterprise, everything is connected, even the browser business is connected. Its more difficult to do than what meets the eye. You can make the case that some of the parts are definitely worth more than the whole, but thats a difficult thing to do at microsoft to break it up. It was designed to be integrated with the productivity applications like office, and breaking this apart would be difficult in my opinion. Liz can they catch up to the sexier Technology Companies out there right now . Well, you know, the leaders are google and apple, obviously, and amazon is a giant in its own business, and i think microsoft can, but it has to use its massive cash machine for other purposes, and that is to increase the dividend and also to increase the stock buyback. Should be 70 billion in five years, but in addition, it has to move into other product lines and go big on the cloud. Liz love your creativity, guys, for who you think takes over. Well remember tony beats, mark herd, wiener of linkedin. Well watch them all. Jamie cox and vick, good to see you both, thank you. Thanks for having us. Thank you. Liz any crime. Coming up, 4 p. M. Eastern, will the former executive who worked under Steve Ballmer and publicly called for him to retire. Hes not been a fan, certainly, but lets see who he thinks could be the guy or woman to take over microsoft. Closing bell rings in 40 minutes. The nasdaqs still reeling from yesterdays dramatic three hour outage from a pr standpoint because it halted trading for more than 2,000 stocks leaving people wondering, where are you guys . More from the ceo and the 30second pitch on why twitter should want to launch its ipo on the nasdaq and not the New York Stock Exchange, and, holy smokes, forget christian bale, theres a new boston disent, a high stakes gamble by one of hollywoods top studios. Well bring you the inside scoop. Join us at projectluna. Com liz investorses and traders suffering from a hangover after the flash freeze on the nasdaq. We have more with the man in the cross hairs. I spoke with the ceo and asked, why the nasdaq was barely heard from in the dramatic moments yesterday. Well, our communication system, i think, worked well yesterday. It can always be improved. First order of business is to focus on solving the problem, and then dealing with people directly involved with the problem. Now, in one of the open lines, we had people representing our issues on the call, and they were there to give regular updates out. We gave the formal update out after the close of trading, which we wanted to do. I think we did well. Well certainly reflect upon how we communicate to do better. Liz cant you hire somebody to work the phones and call the offices oh, they were doing that. Oh, no, we had teams of people doing that. Thats what im saying. We had the people responsible for the issues on the open line to hear firsthand what was going on. They took inbound calls, took hundreds of calls, making outbound calls, and there was active communication going on. In this type of situation, you cant get to every ceo, but we got to a large number of them, deeply disappointed with what happened yesterday, and what we have to do is improve what i call defensive driving. Our system by itself was working, but you have interconnections in the world we live in today, and we have to handle bad actions from some of the people connected to us. We have to improve on that. We have a first and foremost responsibility for fair and orderly markets. We spent two and a half hours making sure the entire industry, open telephone lines with them, the entire industrys ready to come live, and we came live quite successfully, and we finished the day in normal course of business. Its important to recognize that we aspire towards perfection with respect to the operations of our systems, and technology people, twitter, and other companies, recognize that. Well always fall short of that, but we have to keep trying; right . We have to get better all the time, and the number of problems have declined, but as importantly, we have to make sure we handle our problems in the proper way. We did yesterday; right . Nobody wanted to be done for three hour, and if we had been wreckless, we could have been up a lot sooner than that, but the procedures in place, the industry in place worked well, so we would say to any Technology Based company, were not perfect; right . Were 99. 99 perfect, were not perfect. We have problems. If we do, were going to make sure we maintain a fair and orderly market, and thats what we did yesterday. Liz you just heard me ask bob how he would pitch twiter to ipo on the exchange. Not sure if twitter listened, but we may have clarity as to when the social Networks Companies goes public and who might be involved. Fox business Senior Correspondent is here with exclusive details. Well, what we know now is that the nasdaq and i dont think its directly bob, but maybe it is, is now pitching, pitching directly twitter, and so is the New York Stock Exchange so the bidding war for the listing of the twitter ibo on the listing of the major exchange, and maybe they throw in as well, but i know what sources tell the Fox Business Network that both the nasdaq as well as the new york stock exchain are now pitching twitter for its listing business for potential ipo where both parties see the ipo occurring sometime in 2014, sometime over the next nine months. How many are we out . Five months; right . Sent, october, november, december, four monthings. From what i understand, its impossible to know exactly whats going to happen here, like timing, but what they talk about, 2014 for the ipo, thats the likelihood, and both the nasdaq and new york in preparation for that are pitching. Now, is there a possibility that