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EU Regulators Charge Microsoft for Breaching Web Browser Order; AT & T, Boeing and Kimberly-Clark Lead Today`s Earnings Reports - Part 1

Thu, 10/25/2012 - 11:13am
The Associated Press

xfdfw IMUS-IN-THE-MORNING-00

AT&T, Boeing and Kimberly-Clark Lead Today`s Earnings Reports - Part 1>

Wolf, Dagen McDowell, Bernard McGuirk, Maria Molina, Lou Rufino, Rob

Bartlett, Tony Powell>

DON IMUS, HOST, "IMUS IN THE MORNING": This is the IMUS IN THE MORNING program on the FOX Business Network. Now, here`s Diane Macedo.

DIANE MACEDO, FOX BUSINESS ANCHOR: Good morning, everyone. Let`s start things off with a look at the markets. And in Asia, stocks finished the day mixed.

FOX Business contributor Katie Sargent is on the phone with us from Singapore now to give us all the details on that. Hi, Katie.

KATIE SARGENT, FOX BUSINESS CONTRIBUTOR (on the phone): Hi, Diane. We saw some losses in Japan today which were the first losses in after seven sessions of gains there. But where there were some gains in the China markets on some encouraging news on manufacturing, the Nikkei finishing the day down seven-tenth-of-a-percent today, investors taking some profits after stock had run up over the last we can or so, weak earnings from some Japanese companies also weighing on the index there.

In South Korea, the Kospi was also down seven-tenths-of-a-percent. Although, there was some better than expected earnings from L.G. Electronics. And that certainly helped support the market. L.G. Electronics itself was up nearly one-and-a-half percent after posting a third-quarter profit of $200 million, that`s a reversal from a loss in the same quarter a year ago.

China`s manufacturers markets gained on news that they slowdown in manufacturing may be easing. That HSBC purchasing managers` index for October came in at 49.1 which is an improvement over September, 47.9. The Hang Seng was up about three-tenths-of-a-percent on the news and the Shanghai composite managed to gain a fraction of one percent -- Diane.

MACEDO: All right. That`s Katie Sargent. Live from Singapore. Thanks, Katie.

SARGENT: Sure.

MACEDO: Let`s take a look at the rest of the markets now. Here in the U.S., futures have bounced back after dropping on some disappointing European economic data. The major indexes are up across the board. Dow futures are up by 15. The S&P is up by three. And the NASDAQ is up by about two.

In Europe, we spoke about that data. German business confidence fell more than expected. Also, Eurozone PMI came in below the estimate. Stocks in Europe though are also showing gains now. London is up by about one point, Paris is up almost 10 and Frankfurt is up about one as well.

Let`s take a closer look now at what`s moving these markets with Jane Foley, senior currency strategist at Rabobank in London.

Jane, with disappointing PMI figures in the Eurozone, German confidence is at the lowest since early 2010 and Japanese manufacturing, that contraction may be slow -- the Chinese rather, the Chinese manufacturing. The contraction may be slowing there but it`s still contracting. So, are you surprised that markets aren`t taking more of a dive this morning?

JANE FOLEY, RABOBANK SENIOR CURRENCY STRATEGIST: Well, I certainly think that the bad economic news will certainly be capping the outside for those stock markets because the news is really quite gloomy. Yes, the Chinese data, you could say that it was a release, you still have manufacturing slowing at less of a bad pace but it is still quite dire. But of course the European data that is really quite shockingly poor and it does suggest that going into QE4, well, the Eurozone environment could certainly be in recession and certainly that is likely to be the case when we get back QE3 -- very grim numbers from Europe today.

MACEDO: And ECB President Mario Draghi will defend his bond buying program before Germany`s parliament today. Now, these two sides have been pretty split here. Is there any way for him to get Germany on his side?

FOLEY: Well, in a way that the Germans have to put out with it, they are just a seat on the ECB`s board and the ECB had made its decision. The ECB of course will do its bond buying plan if a country such as Spain were to request a bailout. And that`s a position that they`re in. We know that Germany or many German officials are opposed to that.

They`re worried that it`s tantamount to financing governments directly. But as I say, this is a situation which they`re going to have to put up with at least for the time being and this meeting will be behind closed doors, so we may not get all the gory detail at all, at least maybe just some headlines that come from it.

MACEDO: All right. That`s Jane Foley over at Rabobank in London. Thanks, Jane.

Meanwhile, shares of Microsoft are slightly lower in premarket trading as e-regulators are charging the software company today with breaching a 2009 order to offer a choice of web browsers to consumers. Microsoft agreed to the order three years ago to settle anti-trust investigation with the European commission and avoid a penalty. But the E.U. commission which acts as an antitrust watchdog in the E.U. said in July that Microsoft had not complied with the order. Microsoft blamed the lapse on a technical problem.

And the earnings will continue today. We will get another set of results from some big names. AT&T is expected to report a profit of 60 cents a share on revenue of $31.58 billion. Investors will also be looking for how many iPhones were activated in the quarter. Boeing is also expected to report this morning. We`re looking for $1.13 cents a share on revenue of $20 billion. And Kimberly-Clark is also expected to report.

The estimate there is a profit of $1.33 cents a share on revenue of $5.34 billion. We`ll have those reports and so many more as the numbers cross.

Taking a look at commodities now, we`re seeing oil and gold both up.

IMUS IN THE MORNING continues right now on FOX Business.

ANNOUNCER: Ladies and gentlemen, IMUS IN THE MORNING. There`s not much going on.

IMUS: There`s nothing going on, so.

CONNELL MCSHANE, FOX BUSINESS ANCHOR: There`s not?

IMUS: We won. The race is tied. We wanted to be able to arrest Dr. Bill Evans this morning.

MCSHANE: Absolutely.

IMUS: Because what happened in -- where was this?

MCSHANE: Oh, over in Italy, right, these guys were charged and convicted of manslaughter for failing to predict an earthquake that led to, you know, deaths and everything else.

IMUS: So they are in prison now?

MCSHANE: They`re going to be, yes.

IMUS: For how long?

MCSHANE: I believe six years, I think.

IMUS: It would be great if we could put him in prison for that.

MCSHANE: Yes, we were trying it yesterday.

IMUS: But he predicted rain.

MCSHANE: Yes.

IMUS: Did it rain?

MCSHANE: It did. It rained.

IMUS: Dagen?

DAGEN, MCDOWELL, FOX BUSINESS CONTRIBUTOR: Me?

IMUS: Yes.

MCDOWELL: I don`t know. I slept all day. I have no idea if it rained or not.

BERNARD MCGUIRK, PROGRAM PRODUCER: It rained a little to the north. Not so much in Manhattan and to the South.

LOU RUFINO, PROGRAM ENGINEER: In the evening, it rained. Queens, Long Island.

IMUS: I saw no rain.

MCGUIRK: No, it was not the deluge -- we didn`t need it in New York so much.

IMUS: You know, he was advising me to have my -- these personal messages to me, by the way.

MCSHANE: That got to stop.

IMUS: Have got to stop or we will bring --

(LAUGHTER)

MCSHANE: Oh my God.

IMUS: It`s like being stalked, you know.

MCSHANE: Have your rain gear, I-man.

MCGUIRK: (INAUDIBLE).

MCSHANE: Put that rain gear in a holster.

IMUS: What does that mean?

MCSHANE: I don`t know but that`s what he said this morning.

IMUS: Anyway, Michael Graham, he`s coming up. He always gets hammered in the blog that Rob and Tony write because they don`t think he`s funny.

MCSHANE: No.

IMUS: And -- but I do, which is why I keep having him on. And they keep -- and they write horrible things about him. And they will write horrible things about him again today.

MCSHANE: It`s the pattern.

IMUS: You can read the blog at Imus.com for free now.

MCSHANE: Right. It used to be you had to become an inside Imus member. And that`s going to be -- all of that money, 100 percent of it goes to the Imus Cattle Ranch Kids with Cancer. And that`s going to be again the case here shortly. But in the meantime, you can get free yucks.

MCGUIRK: Yes.

IMUS: And then blonde on blonde, Deirdre Imus, Lis Wiehl coming up. We`ll talk to Senator John McCain, Arnold Schwarzenegger is here this morning. Arnold?

ROB BARTLETT, AS ARNOLD SCHWARZENEGGER: Good morning.

IMUS: How are you?

BARTLETT: I`m very good and you?

IMUS: I`m all right. And Reverend Jesse Jackson apparently is here as well. Reverend Jackson, how are you?

TONY POWELL, AS REVEREND JESSES JACKSON: I`m fine.

IMUS: OK. That`s just great.

POWELL: All good.

IMUS: There`s no sports last night, right, Warner?

WARNER WOLF, SPORTSCASTER: Well, we make the sports. We make it I- man. It`s always sports. The World Series coming up tonight. You know the interesting thing? If the Tigers win this World Series, people are going to say, see, they were off for a week and the rest helped them. But if they lose, they`re going to say, I knew that week would kill them. They were rusty.

IMUS: Sure.

WOLF: Same people.

IMUS: Yes.

MCGUIRK: Every year, same thing.

WOLF: That`s the deal. And coming up --

IMUS: They never played each other in a World Series.

WOLF: Never, never.

IMUS: The Giants have been there 19 times. Detroit`s been in the World Series 11 times.

WOLF: Right.

IMUS: Have never played each other.

WOLF: No. Unusual.

IMUS: So, certainly is.

WOLF: Two regional franchises.

IMUS: This will be great, huh?

WOLF: Yes. It is.

(CROSSTALK)

RUFINO: I can`t believe it.

MCGUIRK: Sure, it`s very exciting.

IMUS: Is it on FOX?

WOLF: Everything`s on FOX.

IMUS: OK.

WOLF: 8:07, every game.

IMUS: 8:07?

WOLF: Yes.

IMUS: That`s not bad. I can see a little bit of it.

WOLF: Yes.

IMUS: I like -- and bunch of those people.

WOLF: Right.

IMUS: What else, Warner?

WOLF: Ozzie Guillen was fired.

IMUS: Oh, that`s right.

WOLF: Not really a surprise. He dug his own hole. And the big thing, Bobby Valentine says that --

IMUS: I think the expression is he dug his own grave but --

WOLF: Yes. That`s right.

MCSHANE: We got you, Warner.

WOLF: Yes. And Bobby Valentine says that David Ortiz quit on him.

MCSHANE: Oh-oh!

IMUS: Oh-oh!

WOLF: So, we`ll get into that.

IMUS: That`s not good.

WOLF: No.

IMUS: That`s ugly in fact.

WOLF: It is ugly.

IMUS: So, Bernie is here this morning, lots of briefing stuff. And Lou Rufino is here as well. So, I wished Dwight Yoakam a happy 75th yesterday and received a vile message back from him.

MCSHANE: All right.

IMUS: And I heard from Patrick McEnroe and his wife Melissa. Do you know her?

MCDOWELL: I know who she is. Hot, very hot.

IMUS: Very good, right?

MCDOWELL: She`s been on TV as well.

BARTLETT: Very good Broadway zinger.

IMUS: Yes. She will be appearing at below 54, which is Manhattan`s newest nightspot. And she`ll be there tomorrow night through November 3rd. You could go see her there.

BARTLETT: It`s good gig.

IMUS: Yes, she`s very good. And I like -- what did you say?

MCGUIRK: I said, it`s good if you`re single because you can meet people.

MCSHANE: Exactly. You`re just such a creep.

MCGUIRK: Good pick-up place.

IMUS: I like McEnroe. And she`s good.

BARTLETT: Yes.

IMUS: I`ll be in Texas at the rodeo.

MCSHANE: Otherwise, yes.

(INAUDIBLE)

(LAUGHTER)

IMUS: Ten minutes after the hour. Time for some news. And here with that is Connell McShane. Good morning, Connell.

MCSHANE: Good morning, I-man. Less than two weeks to go here, we`ll check on the election numbers this morning. The final debate first of all drew 59 million viewers watching at home, it was down from the first two debates but up from the third one in 2008. Then we have the Real Clear politics average at the national polls this morning showing Mitt Romney up one, 48-47. But as we`ve been saying, this race is all about the battle ground states at this point, and Colorado is one of those states. Romney last night in Denver saying the debates have made the difference in his campaign surge.

(BEGIN VIDEO CLIP)

FMR. GOV. MITT ROMNEY (R-MA), PRESIDENTIAL CANDIDATE: They have supercharged our campaign, I`ve got to tell you that. And, you know, we`re on the homestretch now, and I think the people of Colorado are going to get us all the way there. What do you think?

(END VIDEO CLIP)

MCSHANE: All right. Well, the President was in Ohio yesterday and that may be the most important state of all. The polls there showing a small lead for Mr. Obama, two points on average. In addition to Ohio, the president also appeared in Delray Beach, Florida.

(BEGIN VIDEO CLIP)

PRES. BARACK OBAMA (D), UNITED STATES: Our businesses have now added more than five million new jobs over the past two-and-a-half years. Unemployment falling to the lowest rate since I took office, home values are rising, the stock markets nearly doubled.

(END VIDEO CLIP)

MCSHANE: Here`s one other point of interest, I-man on the race. Remember Tagg Romney, Mitt Romney`s son?

IMUS: Yes.

MCSHANE: Well, he apologized to the President for saying in that radio interview that he was tempted to quote, "take a swing at him for criticizing his father during the second debate." So, after the last debate they went up on stage after it was over and Tagg was there. You could see him speaking to the President and the campaign officials have confirmed that what he was doing was apologizing to President Obama.

MCGUIRK: He was looking to get tackled by the secret service as he approached the President because who knew what he was going to say at that point.

IMUS: Yes, exactly.

MCSHANE: Some controversy --

IMUS: -- Tagg.

MCSHANE: Tagg Romney. There is some controversy in an Indiana Senate race --

MCGUIRK: That short for Taggart by the way.

IMUS: Yes.

MCSHANE: Is it really?

MCGUIRK: Yes.

MCSHANE: Hmmm, Taggart Romney. All right. Some controversy in an Indiana Senate race, that`s attracting attention this morning as the republican Senate candidate in Indiana, Richard Murdoch, and they had a debate last night and he was talking about pregnancy resulting from rape. And he said, quote, "that`s something that God intended to happen."

IMUS: Oh my God!

MCSHANE: You know, in some of those cases. So, right away the Romney campaign out with a statement saying that Governor Romney disagrees with Richard Mourdock`s comments. They don`t reflect his views. So, that`s out there this morning.

IMUS: They don`t reflect anybody`s views on this idiot.

MCSHANE: Right, so.

IMUS: My God!

MCGUIRK: They`re going to make it reflect Romney`s views before the day is over. Have him linked to this guy.

MCSHANE: Yes, exactly.

IMUS: All right. Time for little -- obviously we`re just down to no news.

MCSHANE: Oh my God! Really?

IMUS: But Dagen may have some business news. What`s going on, Dagen?

MCDOWELL: I have a whole lot of business news. And let`s start with that big, nasty, ugly selloff yesterday in the markets. The Dow industrials fell 243 points. That was almost a two percent loss, worst one-day performance since June 21st. We had disappointing earnings and outlook down deep forecast from a bunch of big companies including DuPont, 3M and United Technologies. DuPont alone lost nine percent of its value in a day, which is really unheard of.

Futures this morning are up just slightly. Dow futures gaining 11 points. We have a lot of news to talk about. The new iPod mini, Facebook results. But first, I-man, Mel Karmazin resigning as chief executive of Sirius XM. He will leave February the 1st right after his contract expires. Again, a battle with Liberty Media and John Malone which is taking over the company. He worked for Sumner Redstone at Viacom, do you blame him for staying around? That`s it.

IMUS: I don`t know what that means.

MCGUIRK: Wow!

MCDOWELL: Look, because he didn`t want to have to work for somebody who would lord over him.

IMUS: Oh, I see.

MCDOWELL: And Liberty Media is taking control of Sirius XM and they have a vision for it and they were butting heads, so hitting the sched, he`s leaving.

IMUS: Fourteen after the hour here on the IMUS IN THE MORNING program. Before we get to Warner in sports, please welcome to the IMUS IN THE MORNING, former governor of California, current dirt bag, Arnold Schwarzenegger. Arnold?

BARTLETT: Good morning. I was very sad to hear that Maria`s cousin Douglas with in trouble with the law for trying to kidnap his own son. Can you imagine such a thing? What is with these Kennedys? Is it because the men are Catholic and refuse to put up the (INAUDIBLE)? Or because Douglas is the 10th of 11 children? I think when you have that many kinda, you dilute the chromosomes, so at least 20 percent of them are, you know, a little special. Like that skankel kid in the tree shining his -- and watching the girl through the window.

(LAUGHTER)

They are like circus people these Kennedys. Douglas said he wanted to take his son out for a breath of fresh air. Who does that? Remove a baby infant from a nursery and subject him to the elements? Although in Austria when a child is two days old we have a tradition, we perform -- we bury them in the snow in the alps for two minutes as a purification ritual but that is different.

We are not inferior specimens like the Irish, like that William Kennedy Smith with the sexual assault although I have to say I have been known to grope a woman from time to time. But in my country if you do not attempt to touch a woman -- and it is considered an insult. Not only that, but the man is looked upon as a -- and I have showered with a lot of sweaty muscular men in my day but I can assure you, I am not a wiber shibell (ph) doom.

IMUS: Sixteen after the hour.

BARTLETT: I`ll be back.

IMUS: Time for little sports and here with that is Warner Wolf. Good morning, Warner.

WOLF: Good morning, I-man. Game one tonight, World Series in San Francisco. It will be Justin Verlander who wins the post-season, it`s three in 0 with a 0.74 ERA.

IMUS: Wow!

WOLF: I mean, that is obviously less than one run a game. Here was Verlander who, by the way, lost games one and five back in 2006 in the World Series against the Cardinals.

(BEGIN VIDEO CLIP)

JUSTIN VERLANDER, DETROIT TIGERS: I don`t think I really appreciated the magnitude of how hard it is to get there. And I had a rude awakening in the years after that. And I think it allows me to appreciate it all the more that I`m here now.

(END VIDEO CLIP)

WOLF: Barry Zito who shutout the Cardinals in game five last Friday will go for the Giants.

IMUS: Yes.

WOLF: Say so long to Ozzie Guillen. One and done. Fired by the Marlins after just one season, going 69 and 93, 19 games out of first. The Marlins will now pay Guillen $7.5 million over the next three years not to manage the Marlins.

IMUS: It`s probably worth that.

WOLF: Yes. Well, he certainly did himself in. You remember the favorable comments about Fidel Castro and Hugo Chavez.

IMUS: Sure. Yes.

WOLF: And then he bad mouthed the owner.

MCGUIRK: You know, if he won he could have sung the praises of Osama bin Laden and still been there.

MCSHANE: Yes. Right.

WOLF: Ex-manager Bobby Valentine on Costas NBC show says that David Ortiz quit on the Red Sox. After the Sox traded his teammate Adrian Gonzalez to the Dodgers, he says Ortiz could have come back from his Achilles` tendon injury. But of course, I-man, as you know very well, what Big Papi always says.

(BEGIN VIDEO CLIP)

DAVID ORTIZ, BOSTON RED SOX: If you ride with me, you`ll going to get two things. Either you`re going to win or you`re going to die with me.

(END VIDEO CLIP)

WOLF: Meanwhile, Red Sox introduced new manager and former Red Sox pitching coach John Farrell.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MAN: Because I`ve been here before, there will be no taking for granted that relationships exist. I will work my butt off.

(END VIDEO CLIP)

WOLF: College football last night, Arkansas State beat Louisiana --

IMUS: What was that?

WOLF: He`s going to work his butt off.

IMUS: Why do we need to hear from him at all?

WOLF: That`s right. I don`t know how he got in there.

IMUS: We just have no sports.

WOLF: No, wait a minute. Here is a great story, I-man. Did you hear what happened at the University of Massachusetts?

IMUS: No.

WOLF: OK. So, during a players football team meeting with the coach Charley Molnar, two uniformed Massachusetts police officers interrupted the meeting and told the coach they were there to serve papers to two of his players. Linebacker Robert O`Connor and defensive lineman Daniel Maynes. So, the two players thinking what have we done, were asked to step forward and take the papers from the police officers.

IMUS: Yes.

WOLF: To their surprise, the envelope contained a full paid scholarship for each guy.

IMUS: Makes me feel warm.

WOLF: OK, Warner, is that it?

WOLF: Well, I could end with this or --

IMUS: End with that. Nineteen after the hour. Thank you, Warner.

RUFINO: What`s behind this curtain?

IMUS: I mean, we could go on all morning, couldn`t we? Oh, God! Anyway, what`s coming up in your briefing, Bernie?

MCGUIRK: We had some new explosive State Department e-mails, boss. And also, Jimmy Kimmel and Jon Stewart on the debate. Very funny stuff.

IMUS: OK. The Big Bopper would have been 82 today.

(MUSIC PLAYING)

ANNOUNCER: IMUS IN THE MORNING.

IMUS: James Bond is the world`s greatest spy. Now, read the original novel by the world`s greatest spy novelist Ian Fleming from "Casino Royal" to "Live and Let Die" from "Doctor No" to "Diamonds are Forever." Read all 14 of the hottest, coolest, sexiest spy novels ever written available exclusively on kindle and in fresh new paperbacks with bold, graphic designs. Get shake and get stirred. Get the original James Bond by Ian Fleming only on kindle. Go to amazon.com/IanFleming.

Did you ever think that one of the most important things in life could be your pillow? That`s right. I`ve been talking about these -- I`ve been wearing myself out talking about my pillow. Every day, somebody acquiesces and says all right, I`ll buy it and see what the deal is. And then what happens? Then you get a good night`s sleep. You wake up, you feel good. Your back doesn`t hurt, your head doesn`t ache. And you feel like a different person. Because if you`re tired all the time, and you try to drink that red bull and then it makes you feel worse. Get a my pillow and solve all that. Go to mypillow.com.

(COMMERCIAL BREAK)

MACEDO: Good morning, everyone. I`m Diane Macedo. And Barnes & Noble has recalled all 7,000 of its credit card pin pads used at its nearly 700 stores. The bookseller determined 63 devices had been tampered with across the country leaving customers in nine states vulnerable to credit card information theft. Now, Barnes & Noble says, its internal systems were not breached so purchases made on Barnes & Noble.com were not affected but the company doesn`t know how many customers have been. The FBI is investigating the incidence.

IMUS IN THE MORNING continues right now.

(BEGIN VIDEO CLIP)

MCGUIRK: You`ve had your share of interns as well. So what the hell?

IMUS: This is not the time or the place -- shut up.

MCGUIRK: Shutting up. Over and out.

IMUS: What`s the matter with you? I wasn`t married. I was single for 15 years. But I mean, I`m going to -- you`re -- get me -- I`m coming over there! That American sniper`s on, he`s coming after you! We`re both going be after you!

(END VIDEO CLIP)

IMUS: Twenty six after the hour. This portion of the IMUS IN THE MORNING program sponsored by Hackensack University Medical Center, a place where medicine meets innovation. Bernard McGuirk briefing, Bernie briefing is sponsored by Ramsey Fiat, Route 17, Upper Saddle River, New Jersey. Ramseyfiat.com and here with it is Bernard McGuirk. Good morning, B.

MCGUIRK: Good morning, chief. And the numbers for the debate are in. Almost 60 million people watched, down about seven million from the first two debates, approximately. And NBC was number one with 12.3 million. But FOX News, FOX News Channel cable, was number two, 11.4 million viewers.

IMUS: Wow!

MCGUIRK: CNN less than half of what FOX had. And pathetic MSNBC, almost two million less than what CNN had. But FOX News, man, just beating ABC and CBS on the coverage of the debate.

IMUS: Unbelievable isn`t it?

MCGUIRK: Yes, it really is.

MCSHANE: Their best night ever.

MCGUIRK: Remarkable.

IMUS: Really?

MCSHANE: Yes.

MCGUIRK: Right. And the second best being the night that Sarah Palin debated Joe Biden, believe it or not.

MCSHANE: Yes.

MCGUIRK: And speaking of the debate, your friend Jon Stewart, boss, he got his digs in last night on the debate. And he started out like this. Take a listen.

(BEGIN VIDEO CLIP)

JON STEWART, COMEDIAN: Final debate between Barack Obama and Mitt Romney, the topic, foreign policy. Bad news for President Obama because?

UNIDENTIFIED MAN: In the history of presidents of the United States, he`s our worst at foreign policy.

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