Troubles are entirely manageable and they have been whipped up by social media hysteria. The selling pace for its new products very strong, if profits will be huge and apple remains king of cool. Added allah and the stock price below the one hundred dollars looks cheap to some. We have both sides of this one. Here is a friday morning bombshell, a revolution and the Biggest Bond Fund in the world. Varney and company is about to begin. Stuart it is friday, a busy morning. A lot going on. Here is what we are following. The bond king. Bill gross has quit his company after years of truly vicious internal fighting. This is where business gets personal. The battles were savage. Charlie gasparino brings his own special reporting later this hour. Bill gross is going to janice, that stock is soaring on that news, 30 as of right now. The final numbers in for the economys performance april through june, annual growth 4. 6 . Will it last . Something really serious. Airtran. New reports president obama is considering giving a big break to its nuclear program, letting iran keep half of its Enrichment Program. Sounds like we will accommodate an iranian nuke. That is a very big deal. A fire at an air Traffic Control center in chicago delaying travel at chicagos of hair and midway airport, it started by a contractor. More than 850 Flights Canceled at chicago last week to major airports. The top of the show i mentioned some people believe apple believe apple is the screening by. Make the case at appleby low 100 a share is a screaming buy. They have fantastic profit margins. The apple 6 sold 10 million in the first weekend. Little problem with the update we can talk about a second. Twice as many as they sold two years ago. You guys make more money on assets than anybody in the business. Iphone 6, monday, a fabulous phone. Maria we have to say goodbye because you have an Audio Program but we get the message. It is streaming by at 99 a share. Michael said it will go down to a lease 142 a share. That will put it at 1,000 a share presplit. John wayfield joins us from bermuda. You say it is not a screaming buy. I dont believe it is. I agree with everything michael said except it is trading near an alltime high, a 52 week high, for the first time apple made some stumbles. Having problems with their phones, a lot of negative publicity, a problem with the operating system. I think there will be a pullback on this stock. Is a great company. They spin off 56 billion a year in operating cash flow, only trading 14 times future earnings but you get this cheaper in the next couple months. Maria how was the guy who told my kids i am not going to buy apple at 57 a share way back when so i no position to take sides on this but am i right in saying you would buy apple if it came down a middle . You would buy it at this point . Absolutely. This is one of the most Profitable Companies in the world. They have incredible products. The watch has not taken off yet. They figured out the ipad when they brought it out. This is a great company. Darrell retraining 14 times future earnings, less than microsoft foremost Tech Companies and this is one of the most Profitable Companies in the world. Stuart the greatest Technology Company in the world bar none. John wayfield back to the beach. Why was apple stock been down in the first place. Problems with the new i o s 8 operating system, have to pull an update on it. They have a software fix for it just in. And a few scattered reports from the web that the extralarge iphone 6 plus can bend if you sit on it. You laugh but that was part of the problem with taking this i think it was whipped up by social media. Clean morris, the tech guru on this program. These sound like minor problems and fixable problems to me and i dont think they will get in the way of huge sales. I totally agree. We saw apple released their new i o s 80. 1. The first of the to the operating system. These rolled out a week after a big launch to fix some bugs, add some new features, things millions of people have in their hands. They test these with thousands of apple employees, it was the beta release. They pulled back the Software Update because people who had the new iphone 6s and 6 pluss and cellular issues and for dropping calls and able to log in with fingerprints. Stuart we fix it overnight. We downloaded it last night and it is working to minor issues. Stuart a picture of the bent iphone. This is a legitimate speech issue, when we set 40,000 people sit and get calls with new devices. Apple admitted only 9 people have come to an apples to 0 with a bent iphone issue. If you stick your i phone in your back pocket a large piece of glass and set on it with your rounded but on a hard bench surface, you are likely going to break it. It is absurd. Stuart listen to this one. You are familiar with John Williams . You are going to be now. He is a midlevel apple executive in charge of Quality Control for apples failed maps rollout. He is also being blamed for problems with the i o s 8 operating system. I wouldnt want to be this guy. We know what happened with scott after the debacle of the mass rollout. We can only wonder if this involvement, i would love to be in the room with a tested i o s 80. 1. How did they let this out the door . How did they say we tested on all these devices, how do we let this out the door, flip the switch some millions of americans can download it . We saw the mess with maps. That is largely fixed, they have done great jobs fixing all the problems but to be at the helm of that ad have the same issues, it wont be a good weekend. Stuart the greatest Technology Company in the world. Can you name a better one . Stuart you dont comment on the stock price of future stock price but under 100 a share the question is is it a screaming buy . A lot of people will say yes. Next month, new mack. It will be of good holiday for apple. Stuart when you stay right there because i have more coming from you later. We have one money manager and later on a program whose says he is extremely bearish on apple. He says the stock is going down to 80. Not quite a screaming buy as 9957. He will make his bearish case top of the our next hour. Stay for that. Check the big board. That is about that of sorts after the 200 point plus selloff yesterday, biggest since july. The s p 500, that is up, the ten year treasury yields going up 2. 5 . We have the s p 500 up 0. 3 , that is a sort of bounce back. The nasdaq trades down big time yesterday, dragged down heavily by apple, bouncing back today of 0. 3 , 0. 4 , a 17 point gain. Where is the price of gold . Very little change, still bouncing just above 1,200 an ounce. We are down 5 today. Strong profits, very strong profits at nike. Everything worked. Up it goes, 10 up on nike. That is a move. We will talk to the man who but Michael Jordan in his first pair of nikes in 15 minutes, athletes behaving badly. A lot of updates on isis we are bringing to you. A dollar no. First of all on the air strikes against them, 10 million a day for the Bombing Campaign is the first dollar number we have seen. Very low to me. Isis has executed a female civil rights lawyer, she was killed by firing squad. New reports that president obama is considering giving a big break to Irans Nuclear program allowing them to keep about half of their Enrichment Program going in exchange for their help against isis. We first brought use this each with ambassador john bolton. He joined this week to week ago. Listen to this. Isis is a terrorist organization. We should destroy it at our first opportunity but they are nowhere close to getting nuclearweapons and iran is and that is the definition of an existential threat. I dont see the president understanding that iran is never going to be cit chatted out of its longterm goal of becoming a Nuclear Weapons state. Stuart wall street Journal Editorial Board member mary kissel is here. That sounds ominous to me. The threat of a bomb being gotten hold of by the iranians to me is far more serious and far more anxiety than isis quite frankly. The Obama Administration never intended to destroy iran at nuclear program. They wanted to freeze it, push it to the next administration. The chief negotiator told voice of america person and not so long ago in the last few days we are making progress with iran. Progress towards what . John bolton is exactly right. Iran is a state sponsor of terror. The head of the Security Apparatus in iran for two decades, he cheered the crackdown on student protests in 1999 and a couple years ago. Seize the two faced guys. You cannot trust them. Iran is an existential threat to israel but also a threat to our interests in the region. Stuart straighten me out technologically. If they keep half of their Enrichment Program the only point in enriching uranium is to build a bomb. As no other functions. Stuart we never ask them to get rid of the Enrichment Program. We want to stay to iran, x amount of capability in these inspections. And International Inspectors having trouble getting in there. It is insane the Obama Administration would negotiate with people like this and put our friends and allies at risk. Stuart back in a moment, here is another anxiety ridden headline for you. We have a software bug that allows hackers to take over your computer. 70 of machines are vulnerable. We will deal with that with Clayton Morris stuart it looks good. Dollars of 78 and i got to tell you nike is stock. Nike has gone straight up and 90s game accounts for 55 of those 78 points on the dow. Where is the price of gold . Still around 1,200, how about will . Where are we . 93 exactly blue seems like all we talk about these days is avalanche samsung but Nicole Petallides is here. She will tell us about blackberry. Nicole that nice blackberry, stock is a big move, talk about shares, 6. 7 gain for blackberry, as they came out with their numbers. They did see revenue falling 42 . The losses that they saw narrowed to 207 million from 965 million. Isnt that better . You only lose 200 million. That is good. Some people are even saying the turnaround is working and evidence of that would be the new passport that came out this week, the new fun. Its keyboard is why theyre so they said particularly for doctors who need more characters for lines, this might be a good one and they aggressively priced at 599 find to be out apple which you mentioned and samsung which you mentioned, supposed to start at 50. Stuart i have been covering the stock market for 40 years now. A long time since i saw company lose 200 million, have its revenue decline by 42 but because that was better than expected, it doesnt 10 . I try to be an interpreter but not sure i can interpret that one. Good story, thank you very much. We got Computer Security experts warning of the new bug that could put millions of peoples private Investment Information at risk. This one is called shell shock. Effects computers using software for the mac or lennox operating system. It could allow hackers to gain complete control over your computer. That is the point. Got that news story. I want to go back to this date a breaches and retailers. I had to cancel all of my mastercard accounts because of this. I want to know, if i use apple pay on the iphone 6 july avoid these problems with sliding my credit card . One of the big stories that came out of apples lunch, remember the target breach around christmastime . If you using apple pay this wouldnt have happened. Hackers were able to break into targets system and get access to those credit card numbers. They were able to run up your credit card and call fraud and get access to other information about you. Now with apple pay target will not have the credit card number because it presents a random noon number with every purchase. Stuart i am still using a credit card through my apple iphone 6 the target or any other retailer doesnt get the number. They will know when you purchased. They wanted use their Demographic Data to say you are buying birthday cards or whatever but they will not have the credit card number. Mastercard is putting out a 16 digit random number for that purchase. It disappears into the ether, next time you make another purchase you get a new numbers so yes, you take a photo of your credit card to put it into your phone but you will not have the state of reaches, this issue that you have with home depot and target. Stuart is there any other similar system to apple pay or a sample pages way out in the lead on this . I could see that as a huge, very big selling point for the i phone 6. Similar Services Made some nice in roads, square has done some interesting things. Paypal has done some big movements toward security to fix security holes that paypal has experienced but no one has had a big mover advantage of getting on Companies Like walgreens and target and big retailers to support this new technology and all the banks were on board. Mastercard, American Express, bank of america, they said we are on board with it. Stuart when you got the iphone 6. There was a line of people outside the studio when you brought it into the studio, they wanted to see it. Then the pope is shaking hands. Do you use the pay system . I tested it at the apple event, got a chance to dive through. Really phenomenal. One of those pieces of technology that comes along every few years, how does that work . It doesnt roll out until october, early october. Stuart can stock on the screen. Has a regional one hundred dollars a share, have we talked this up . We have an hour and 39 minutes left on this program. See what we can do. Derek jeter, gamewinning hit last night in his final appearance at ec stadium. A story book ending. Tried to explain that next. Takes it to right field, and it is steady. The single. Stuart there you have it. Jerrod gene blairs final performance in yankee stadium. Not everyone is in awe of that, listen to what Keith Olbermann said about the derek jeter height. The captain of the yankees. Jeter is the king of the new york. I forgot. That must be reality. If true they wouldnt printed on his shoes. Stuart oh keith. One of our viewers tweeted the response to Keith Olbermann and heres what he had to say in return. He tweeted sadly my old friend, i have known you for many years, jumped the shark in 1984. I am still confused about exactly what that means but we did ask our social media pages whether or not you thought i had jumped the shark. A couple comments from our social network pages. Linda says the fact Keith Olbermann is still on tv and people watch him as a testimony to the stupidity of humankind. Joseph agrees with Keith Olbermann and tweets these jeter zealots are amazing. They wont even consider that maybe jeter isnt as good as they think with mary kissel is still here. Dont pass judgment on jeter. Try not to. Did i jumped the shark. It is sad that Keith Olbermann cant celebrate, and i dont follow his statistics religiously like my colleagues do but he is a classy guy. In some respects he is exceptional because he is so ordinary, a decent guy. What it says to me about society is standout to the degree that he does. Stuart brilliant baseball player, decent guy. Who would have thought . What is wrong with that . Nike stock is a huge winner, reported higher profits. In the background to the nike story is a mess made by athletes behaving badly. Nike has recently terminated contract with adrian peterson, ray rice, a Oscar Pistorius over domestic violence. Joining us by phone is sunny c bacca baccaro. Theres a distinction to be made here between endorsement contracts which you can lose if you behave badly off the field versus playing contract which are good no matter what you do. There is a distinction. Very big distinction. Realizing the contractual obligation especially in the last ten years, they did the legal contract for the company to the fire. Stuart when you negotiate contract with a sponsored theres almost always that bad boy clause in it these days, correct . These days that is the correct phrase. Way back in the 80s and 90s, way back, there werent fees kinds of feelings. First of all the athletesnot like things didnt happen bad to athletes on the playing field. But they were more not covered as well. They would come and go. Today a stories at has been hitting the last five years are egregious to even some most in sensible person because they are magnified to the point everyone knows about it so the company has to protect themselves. The biggest weapon we have for the companies and for the fans are corporate entities whose sponsor these athletes and these teams. Stuart these bad boy clauss is a good thing in your opinion because it tends to control the behavior of guys who might get out of line off the field. Hold on a second. Quick comment. Isnt it sad these clawss have to be in there at all. How are these guys raised . Where are the wives of the husbands and managers and coaches . That is a valid point a few take it in the context of what i said. Things have changed so drastically. It is not like there were not bad guys playing football before, baseball or basketball. They were not as acknowledged publicly because of the immediate and we know there were an egregious turns taped consulate all comes from how it begins, what was your environment. Any complex what i have seen is the public has become aware. We still have part of the public that accepts whatever is this egregious thing is and there have been many but you are right. It starts all long time ago. It didnt start yesterday. Stuart you know what you are talking about and appreciate you being with us