No you'll need a dvd burner to burn dvd's. Good ones are pretty cheap now - depending on where you are - in the US $30-40 online at newegg.com
It IS possible to convert a DVD movie to a different format. Then you compress the file size to fit on a CD. The picture quality is soooo bad, I can't even imagine why you would want to do that. Buy a good (relatively inexpensive) dvd burner as suggested. GOOD blank media is not that expensive either. The results are way better. And you will enjoy it MUCH more!!