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fractional winner. the nasdaq is higher by seven and a third points and the s&p is up one and a half. the s&p bha close to multiyear highs, but are stocks still cheap? they re trading at 13 times forward earnings, the lowest level in about three years. it s typically the forward pe, that means things are looking company and there is value in this market. with all of the uncertainty about europe, they re all still hanging over us, do you want to stay in the side lines? joining us is mike gibbs, and our own rick santelli, good to see you all, thank you for joining us. we ve been waiting on the fed and waiting for more intervention, do you think it will happen in exception, is this rally getting tired? no i don t think the rally is getting tired. people are talking it down saying we re going from 13,000 to 3,000 in the next couple years. i think this is a market that is reallyly valued, stock that s have gotten inexpensive, and whether we re waiting on the fed or bette ....
long. a trading glitch on the ibex has halted trading this morning. something global markets are becoming familiar with. no clarity on what the glitch is. a story we re keeping on top of. let s kick off our road map. a load of breaking news. founder of best buy offering to take the struggling retailer private for $24 to $26 a share. will it happen and what does he see that short sellers do not. knight capital gets that lifeline but crushes the common. 70% dilution even with it. can knight survive as an ongoing entity? it may not feel like it but the dow is just 180 points from its high for the year. four straight weeks. what s needed to help keep the summer vibe alive. breaking news, best bitrading sharply higher on news the company s founder has submit ad proposal to the board to accare the company for $24 to $26 a share. david faber had the news a few moms ago. raises a whole host of questions about what needs to happen at this company, whether or not public o ....
captioning sponsored by comedy central ( theme song playing ) ( cheers and applause ) jon: welcome to the daily show, my name is jon stewart! we ve got an excellent. we have an excellent episode following, obviously, what was a wonderful encounter session with the audience. (laughter) where i thought we learned a lot about each other. (laughter) my guest to want the great sigourney weaver, the show political animals. she plays a neo-con pan sda. (laughter) no? that s. that s not the show. you have to advocate mitt that d be a pretty (bleep)ing show. neo-con pandas. tonight we start with our current economic woes. we all know where to place the blame for our woes. more regulation will strangle the private sector. states are going bust and cities are going bust. they re in dire financial shape because of public sector unions. the uncertainty facing small businesses are crippling job creation in our country. jon: got it! (laughter) too much regulation, gledy ....
the dow up a quarter of a percent. the s&p 500 gets a fractional gain, and the nasdaq is up three quarters of a percent. helping me break it down is andras garcia. good to have you both joining us. we re keeping a close eye on the technology earnings out from now. we have roger kay. $10.10 a share is the number on google, we just got it in, and we mentioned earlier the stock has been trading today, we have $10.04 on the estimate, and we re getting the number as $10.12. we re getting $8.36 million on revenue. the stock right out of the gate trades up just a fraction. they re up ten cents a share. what s your take on the second quarter earnings so far. i think expectations were so slow, looking for zr row growth year over year, anything that helps that explains why we have the market grinding higher. david, are you with us? yes. great, i know you can talk about google here, he is executive vice president at e pocket investment partners, what s your take on the goo ....
modestly in the red. our roadmap starts with the first big bang to report its earnings. citigroup beating estimates. . morgan stanley downgrades general electric to equal weight saying the key reasons to buy the stock are more of a 2013 story. the industrial giant post earnings this friday. is more china stimulus on the way? comments from chinese leaders over the weekend may hold the fate of u.s. companies warning of weakness. and nokia cuts the price of its flagship smartphone in half just three months after the launch. but can the lumia 300 keep apple and samsung from stealing even more market share? shares of citi moving higher in the premarket. the bank recording second-quarter earnings of a dollar a share. forecast called for 89 cents. revenues just shy of estimates. as somebody said, it s a good thing they have a traditional banking business because the wall street business was tough. they don t want to be in the wall street business. i think they re m ....