Dell introduces its new line of laptops, designed to have a 19-hour battery life, while Warnaco's Speedo is the most desired swimwear for Olympic swimmers. Following are the day's top videos:
Stern on Oil Prices & Inflation
“From my perspective, I had been expecting oil prices to level off. It should lead to some slowing in the future in headline inflation and should also be to the good from the point of view of inflation expectations. So I do think that, while things are playing out to what’s expected or maybe even better than expected, it should help to alleviate some of the inflation concerns and inflation pressures that we had been confronting.”
--Gary Stern, President, Federal Reserve Bank of Minneapolis
Dell's New Laptops
“Dell is the leader in business notebook world, and particularly here in the United States. And right now, the world has transitioned from desktops to mobile. So we’re going to introduce the new Latitude E family, which is the most robust product line we’ve ever brought forth to business, mobile travelers. It’s got the greatest security, the longest battery life, most robust designs…”
--Michael Dell, CEO, Dell
Warnaco's Olympic Push
“We announced earnings last Thursday, and we announced 22 percent revenue increase and I think our earnings were below 52 percent. So I think that was the catalyst and driver for share price. Having said that, I think the boost yesterday, which took our share price to a 52-week high, [was because of] the Phelps factor. Speedo represents slightly under 15 percent of our business.”
--Joseph Gromek, CEO & President, Warnaco
Bullish on GIS
“Three or four years ago, we saw [price of input materials] starting to go up already. And since the turn of the decade, prices have been going up. We saw them going up in ’03 and ’04 many members of my management team had lived in and worked around the world, had seen what was been happening in China and India and they said: “input costs are going to continue to rise,” and the reason is because global demand is so stronger now.”
--Kendall Powell, CEO, General Mills
Maria’s Market Message
“The latest retail sales data should set the tone for trading on Wednesday, but it was the financial services sector dragging down the market on Tuesday. JPMorgan writing down more than $1.5 billion in mortgage related assets in the third quarter –- that was more than the $1.1 billion write-down it took last quarter. Landenburg Thalmann analyst Dick Bove cut earnings estimates on JPMorgan through to 2010 and took his target price down on the stock as well. ”
--Maria Bartiromo, CNBC’s Closing Bell
