Facebook Shares Leap, Apple Moves Higher On iPad Mini

Matt Nesto analyzes the morning business headlines.
3:00 | 10/24/12

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Transcript for Facebook Shares Leap, Apple Moves Higher On iPad Mini
Your latest in business and -- -- From BBC news. You're watching live coverage of the opening bell on -- scenes now ringing the bell this morning had a lot of an editor in chief of business insider -- calling it. Into the publications list of the top 100 people. Upon our. And they -- -- -- opening up this Wednesday October 24 hello everyone I'm Tanya Rivero in New York Dow futures were up this morning following yesterday's diet. The largest drop in stock prices since June. Joining me now to explain what is moving the market is not -- -- co host of breakout partner Yahoo! finance good morning that. Good morning Tanya so goodbye as we begin today are we headed back up or extending the tumble. There's a lot of things right now we're looking for -- higher open robbing an open up you know maybe half a percent or so we've had as you pointed out a really rough week we've been down. Three in the past four days those two big drops those 2200 point decline days of the Dow certainly -- so the vibe right now really is. Is this sell off more severe. Or is this just going to be a little bit of a dip -- -- -- you know accelerate. Or is again actually turned ugly so we are right in the throes of earning season as she knows who had a lot of fodder. Two sort -- Absolutely now we know over the past few weeks the drop in the Dow drop has been more than 500 points so. Are you people call this a correction. Well that's a technical term that actually means -- 10% decline so were about you know we're down about 4% the Dow ocean about 500. Points are now -- -- -- so again about the same months -- not a correction yet it's it's just it's -- give back. If you -- that's right now let's talk FaceBook which came out. With earnings after closing bell the company seems to be doing much better than expected up 26%. Does that how do you rethinking your outlook on the stock. Sure it doesn't it's you know it's a scary stock to be as you have to wonder. You have this big overhang this Libya. Huge release of restricted -- shares in November. So that's going to be coming out so that's kind of and that. Intermediate term in the short term there's questions and whether or not this company is actually. -- is gonna get it is gonna become really more shareholder friendly orbits going to be. The toy of Mark Zuckerberg and you know free to do -- -- wants to win every wants to and dress and act however wants to do so right now it's encouraging the stock's up almost 30%. It's at a five month high air -- -- a three month high it where it last was when it reported its first. Earnings reports three months ago so yeah is definitely worth a look. But it's one of those nervous kind of stuff. People -- looking to rent. I don't I think you have been on the had been called the scary stock just in time for Halloween you know it's one -- those that that people are wary eye out for show are you are right now like you said earlier more than forty companies and -- and he. 500 -- reporting today. Any headlines so far. Yeah well you know it's a mixed bag is the overriding headline is going to be continue to be. Weak revenues -- sales and earnings that are coming in a little bit. Cooler than expected as well as the guidance the forecast to -- take a look for example -- AT&T they did manage to be. On the bottom lines of that -- is enjoying good -- -- here today but they missed on revenues Boeing very strong quarter pretty much in line revenues as well. And then we also saw strength in doubt which should be by four cents but the revenues were down 10% a little bit less than expected they're cutting some jobs to try to. You know manage their way through this slow -- On the weak side Netflix getting. It would double digit losses here today again it's all about how -- they can sign people up. Also weakness in names like EMC in Bristol-Myers so it. Enter it. Past the point of all these names here today the big picture continues to be soft guidance nervous companies and weak sales. All right sounds like people would certainly be keeping -- eyes on earnings today now. We also need to talk about to -- iPad mini in the pricing starts at 300 -- 29 dollars and this is more than for competing tablets at the same size as this. A mistake on the part of apple or Smart -- Well time -- to. You know that's the debut the thing that caught my eye yesterday as I can't remember. Any. Other apple product launch in the modern era that was received. So. Separately by the marketplace you know this is a big new product for them I understand. That it's little version of a product it's already out there but it's a new category it is going against new competitors it was also poorly kept secret the only thing that wasn't. Really known was the price in even that because there's so many different configurations. You know you have this base model you see the auto manufacturers do this to you know MS RP begins at some obscene amount. Whether that's the actual model people buy and how it stacks up vs. You know you write -- manufacture I guess of the big take away here is it's getting more from more competitive in consumers' are gonna have to. Find the deal that really suits their needs best in the size product. And this -- is supposed to compete with all of those readers write like that -- nothing Kindle is that the idea. Yes in the seven inch right you know product category so -- goes right up against the Kindle fire than the Google and access I guess that is Samsung they have their version so somebody who liken it to wait it's either a huge iPhone. Or -- tiny. Ipads sort of in that middle space I. That anti. It's not about think that if you already have an iPhone and you already have an iPad what is going to make you buy the mini as well. Spare cash in your as get money to burn. I guess I think it will look I see some people that use the camera on the -- the amount about they'll kind of ridiculous so this thing you know -- TV actually want to use it. Can come with telephone service if you choose to go that way that this is where I start to get interest and because personally -- Unlike the one device sky I don't wanna Cary a cell phone and a tablet won an altogether -- still. Like to get a call -- -- -- -- they can call if I need to I know that's old school so that might inspire and -- the phone at the pad and just. I'm thinking -- thing. Course our company in the world about the we're all about the that the devices here now so. Yeah is it's all about -- -- mobile -- that's the thing and it's just which product works best for area. Absolutely Aaron Matt let's -- unlike look at the Dow before we let us see where things are going other up a little bit this morning 36 point -- -- All right Matt Heston thank you cheers and season.

This transcript has been automatically generated and may not be 100% accurate.

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