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Last Call: Never Say No to Facebook Employees

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Nicholas Kamm | AFP | Getty Images
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“Saying "no" to Facebook employees is a no-no.”

-Below a Yoga teacher on the Facebook campus is fired after enforcing a cell phone ban.

Market Musings With CNBC Market Guru Robert Hum

  • A promising start, a disappointing finish: Dow opened up 94 points, but closes down 83 points
  • Dow, S&P fall for 4th straight day
  • Industrials sector lags, pulls markets lower following Cummins warning
  • Euro hits 2-year low vs. Dollar
  • Crude oil drops going into close, settles below $84

The Word on the Street Tonight

Fitch Affirms Its 'AAA' Rating On the US, Keeps Outlook Negative/Reuters: “Fitch Ratings on Tuesday affirmed its AAA credit rating on the United States and maintained a negative outlook, citing a diversified and wealthy economy that is undermined by the government's inability to agree on deficit reduction measures.”

Traders Take Smaller Bites of Apple/WSJ – Kaitlyn Kiernan: As Shares of the iPad Maker, Google and Others Get too Pricey, Investors Turn to the Options Market.

Apple Removes Green Electronics Certification From Products/WSJ - Joel Shectman: “Apple has pulled its products off the U.S. government-backed registration of environmentally friendly electronics. … The news complicates the work of CIOs at educational institutions where Apple has a strong presence. Schools often push IT departments to make environmentally sound electronics purchases, as do an increasing number of corporations. But now even older models of Apple equipment are no longer certified. … Many corporations like Ford, HSBC, and Kaiser Permanente require their CIOs to purchase computers from sources that are EPEAT certified, said Sarah O’Brien director of outreach for EPEAT. And the U.S. government requires that 95% of the electronics it purchases be EPEAT certified.”

Yoga teacher fired over cell phone ban at Facebook/SF Gate – Casey Newton: “For years, yoga instructor Alice Van Ness has started her classes with a simple request - that students turn their cell phones off. She brought that policy with her to Facebook , where she began teaching a weekly class at the company's Menlo Park campus in March. But it proved to be a hard policy to follow for at least one employee, who began tapping away on her phone in the middle of class. And after Van Ness shot her a disapproving look, the instructor found herself out of a job. The 35-year-old San Carlos resident was fired last month after managers at the fitness contractor she worked for explained that saying "no" to Facebook employees is a no-no.”

Packers report record-setting profits/MJS – Don Walker: “Continued economic momentum from a Super Bowl victory, combined with high fan intrerest during a 15-1 regular-season record last season, propelled the Green Bay Packers to record-setting profits last year. For the fiscal year ending March 31, the Packers, already a juggernaut among National Football League teams, reported net income of $42.7 million, a jump of $25.6 million from the previous year.”

Tweet of the Day: L.A. Times' @JoeFlint: "Solution for DirecTV and Viacom standoff: Have CEOs Mike White and Philippe Dauman duke it out at Sun Valley and put it on PPV."

Economic Data

830am et May Int'l Trade

1000am et May Wholesale Trade

1300pm et 10-Yr Note Auction

1400pm et FOMC Minutes

Earnings

Before the bell:

Burberry

After the bell:

Chevron INTERIM* (*full results will come out July 27); Marriott; Texas Industries

Key Guests

Jay Jordan, The Jordan Company Chairman (700a)

Sheila Bair, Pew Charitable Trusts (730a)

Steve Judge, Private Equity Growth Capital Council CEO (740a)

Thomas Maheras, Tegean Capital Management Founder (800a)

Paul Krugman, Economist (830a)

Jeff Applegate, Morgan Stanley Smith Barney Chief Investment Officer (1100a)

Richard Madigan, JPMorgan Private Bank Chief Investment Officer (100p)

Danielle Hughes, Divine Capital CEO (340p)

Rep Eric Cantor, R-VA (700p)

Alan Greenspan, Greenspan Associates (700p)

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