welcome to wall street. is it time to bail out or buy in. what's next after the block buster quarter. help wanted signs are out where you might not expect them, for jobs that might surprise you. successful startups, hiring more than engineers. thep my conversation with director james cameron, his titanic task, why he is going to the bottom of the ocean and ends of the earth. "wall street journal report" begins now. >> this is america's number one financial news program, "wall street journal report." now, maria bartiromo. here is a look what's making news as we head into a new week

on wall street. earnings season is kicking off with a bang. two of the most important, largest banks beat analyst expectations. chase and wells fargo had better than expected profit and ref few numbers. jp morgan earning $5.4 billion, wells fargo, 4.3 billion. earlier, alcoa kicked off ahead. and google announced a two for one stock split. the markets rebounded wednesday with fears easing about europe's debt crisis. then thursday, they put on rally caps, having the best day in a month. the markets fell, though, on friday. picture this. facebook is acquiring instagram, a photo sharing site for $1 billion. they have 13 employees and no earnings. and new cars and trucks getting 24 miles a gallon according to a study from university of

michigan, highest ever, up 20% from october, 2007, the first time the study was done. joining me, abby cohen. wonderful to have you. >> thank you so much. >> we saw a good first quarter for the markets. not a great start for second quarter, even though seeing a pickup the last few days, do you think the markets are undervalued? >> we think the markets are undervalued, but have to keep in mind there's a lot of risk aversion out there. and when investors are reminded things may not be going so swimmingly in europe or perhaps there are some economic questions about china or even the united states, investors do tend to pull back. >> so i guess that's the cautiousness that we're seeing. abby, let's talk fundamentals. earnings season is well under way.

most are looking for growth for s&p 500 under 1%. are you in that camp? what does that mean for investors. with the market that strong, i wonder if expectations are too high in terms of earnings. >> from a macro perspective, our teams at goldman sachs tended to be below consensus, in terms of gdp and also earnings. as we look at some of the other numbers coming in, we recognize what matters is consensus expectations. even with that said, we think there's going to be some areas of significant positive surprise when it comes to earnings. keep in mind that in the incredible runup in the first quarter, not every sector participated, and we think the best valuation opportunities are right there. >> so where are the areas of growth would you say within the s&p 500 for quarterly earnings? >> where we think there could be good growth would be in a number

of the economically sensitive categories, technology. we also think financial services companies will generate good results. both of those categories performed quite well with shares in the first quarter. the third category where earnings growth may be good is related to the energy where, where we think there's been a disconnect between what happened to energy prices on one hand and equity share prices on the other. >> even as oil prices are rising, oil stacks vice president kept up with the price of oil. >> that's exactly right. we all focus on natural gas prices here in north america, where the enormous supply in canada and the united states and warm winter have combined to keep natural gas prices down, but let's take a look around the world, because crude oil demand and crude oil prices have, in fact, been rising, and we see that many of the shares of the major energy companies in the united states normally track not

local north american demand but global demand and global prices, and the gap we see between global crude prices and those share prices is one of the widest that we've seen in a long, long time. >> that's interesting. i'm glad you're on global. i want to ask about europe and china. you mentioned china moment ago. we know the gdp came in lower than expected in china this week. europe again starting to make markets nervous again, watching things like spanish bond auctions where we're seeing increases in rates. how concerned are you about europe and what about china as well? >> with regard to europe, we have been of the opinion that europe was going to be in a recession in 2012. obviously with worse performance in some of the most afflicted economies. so we have not been terribly surprised by what we have seen. instead, we think investors need to get it in their heads there is not a quick and simple resolution to the youeuropean

problem on the economy or on the sovereign debt situation. instead, we think there will be a global, gradual grinding process, and we think that's what we're seeing. the china situation is one where we think that the consensus is probably overly pessimistic, while first quarter gdp data for china were representative of deceleration. the most recent weekly and monthly data from china show reacceleration. so we do believe it is possible chinese growth, particularly with regard to consumer spending and some other categories may prove to be above current consensus expectations. keep in mind, the chinese monetary authorities became very concerned about inflation a couple of years ago, and they actually have reversed that policy. they did so a few months ago. so over the next few months, we expect to see the benefits of that move toward more stimulus

in their policy and therefore reacceleration in economic growth. >> sounds like you're not worried about the slow down we've seen in china. >> that's correct. we have also seen a pickup in trade data, exports have picked up, in part because economies like the united states are showing good, steady growth. >> abby, always wonderful to see you. thanks so much. >> thank you. >> abby cohen joining us. up next, silicone alley put up a help wanted sign. how to get your foot in the door. tips from two of the hottest technology startups in town. and later, 100 years since the unsinkable titanic met an iceberg. film director james cameron will join me. [ nadine ] buzzzz, bzzzz, bzzzz, bzzzz,

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good times for the job market? four companies share an address and help wanted sign and the signs aren't for computer geeks either. proof we are living in a startup nation. more than 100 jobs are open at 568 broadway, at your ban site thrill list, four square, tengen, and zocdoc. >> i would hire 100 people tomorrow if i could find the right people. right now, we are in 16 cities. i need more salespeople in other cities. also looking for teachers, looking for lawyers, accountants, photographers, across the country. there's so many jobs available. >> i went to school for literature and theater, and i came to new york to get discovered. what i'm bringing from my creative background is an understanding of how human beings work. we are training doctors every day, integrating their technology with our technology. >> it is a men's life-style media company. put on about 100 people, the rate of about two a week,

actually accelerated looking for someone with a passion for the product. city editors are very diverse people. some have backgrounds in journalism, some are paralegals. >> felt when i was on wall street everyone talked about the good oh days, best were behind them, i wanted it where people were optimistic and talking about the future. >> joining me the founders of zocdoc, cyrus massoumi. great to have you on the program. >> thanks for having us. >> cyrus, tell us what's going on in terms of zocdoc, your plans for expansion. >> we help people find and book doctor appointments online, so patients can come to the site, tell us what doctor they need, book a doctor. >> you can book it and get on his or her schedule. >> you can do it 24/7, 365 days a year. when the doctor's office is

closed, you can still get access to healthcare. >> you started the firm. how did you do it. >> started four and a half years ago in new york, spent two-and-a-half years perfecting what we do in new york city, in the midst of nationwide explanation. trying to hire in cities all over the country, perhaps even outside the u.s. soon. >> ben, let me ask you, 21 city additions, 3 million subscribers. how is your staff keeping up with growth in your content and commerce business and then i want to hear how you started the business. >> it is tough. hiring is the number one priority, growing in so many areas. thrillist and on the jack thread side. it is fun but pretty overwhelming. >> how did you start the business? >> started it really out of a need, similar to cyrus, we were living in new york city, reading crappy city guides, wanted to bridge the gap between men's magazines, "gq"s and he is choirs and others, felt having a

city guide that spoke our language was a need. my mother and i shouldn't read the same city guide. >> yes, and your grandmother. >> exactly. >> both are in hiring mode. what kind of people are you looking for. cyrus, tell me what stands out. >> we have a word in our company we use, which is humbition. humble people that are ambitious that work with the culture. one of the major roles we need to hire is for the operations team, that interacts with doctors and patients. we have had such great success finding people of diverse backgrounds, opera singers, actors, people that were literally working in grocery stores, very consumer oriented, very friendly folks, and we have an in seichable appetite to hire more. need more on that time. >> i am trying to find out what's behind this.

you have to believe mobility is sort of the underlying trend we're all seeing so many implications of. so this week, we saw instagram announce it was being acquired by facebook. a billion dollar deal. how does that excitement impact plans for mobility. talk to me about mobility. >> i think it is more important than people know right now. the billion dollars for instagram is great. what it really represents is the fact that mobile is here. you can't think about mobile as a separate way to build or separate product, everything you do has to be mobile. >> i have a funny story, obviously helping people book doctor appointments over the internet, rolled out the first mobile application a couple years ago. recently got a note from a patient that said they were so excited that zocdoc came to her iphone, because she was sitting in bed sick, didn't want to have to get out of bed to use the computer to book her doctor's appointment. the fact she could use her phone to make a doctor's appointment,

genius. you think of it five years ago, people used the phone for lots of things, they were talking instead of using applications. i agree with ben completely. it is absolutely here to stay, and it is going to be the majority of what we do in relation to the internet in the future. >> let me ask about the investors, what's the sort of end game for you. cyrus, you first. zocdoc has bold faced names in terms of investors. jeff bays owes, peter teal, major investor in facebook. what are plans to go public. >> i didn't get ben lerer. never got every major investor. we are just putting our heads down, trying to expand nationwide. we are in 16 markets right now. we have the rest of the country to go through. and believe me, we need salespeople all over the country, we're hiring so aggressively. so to take attention from that is really distraction for the team now. so we're not focused on that at all. >> venture capital is there. looking for opportunities and pouring money in. more than $200 million has been

raised by tenants in your building, which is really funny. why do you think we're seeing this money flow moving into technology, ben? >> i think the space in general, couldn't be hotter. you think five years ago, ten years ago when smart talented people left undergrad or business school, wanted to go to wall street. generally. >> wanted to go to goldman sachs. >> now they want to be mark zuckerberg. so do i. people are going and there's an incredible amount of talent coming. there's still so many categories and areas not yet disrupted by the internet, and everything is going to be disrupted. if it hasn't yet, it is coming. >> good to have you. thank you so much. congrats and best of luck. see you soon. up next on "wall street journal report," hollywood original james cameron created the two highest grossing films ever, titanic and avatar. his newest project is diving into next.

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watt second highest grossing movie of all time. titanic is back in theaters in 3d. james cameron says revisiting iconic films makes sense in today's movie industry. i spoke to him about this weekend's anniversary of

titanic's end. >> i think it is resonating 100 years from now and well beyond that, like the great tales of rome and greece. this is a story that has so many aspects of human nature in it, you know, it's this great sort of moral parable about being too big to fail. these guys that were in the biggest moving object ever built in human history up to that time, and they sail it into a known ice field, despite warnings on a moonless night, crash it into an iceberg and kill 1500 plus people. >> there's so much fast nation about the wreck, memorabilia, several large auctions of items retrieved from the spot. >> yes. >> some say the ship itself should be left alone. what do you think? >> well, i believe that the actual sort of wreck, the bow and stern section which are so iconic, and i have been down there on 33 separate dives,

photographing it, and i know how kind of haunting and memorable it is, i think that should be left alone. i don't think that should be cut up or an attempt made to bring parts of it to the surface, but the artifacts that are scattered, like the contents of a pinata when the ship broke in half all across the bottom mud, i think bringing those back, putting them in these traveling exhibit shows is a good way for people to feel connected to these human stories. you know, when you see a fork or a letter that was in somebody's wallet or, you know, eye glasses, it connects you to who the people were on the ship. makes the history seem alive. >> it really does. i mean, it is chilling actually. let's talk about titanic 3d in theaters. it took some $18 million for the 3d conversion of the film. >> right. >> tell me about the process, or revisiting your work. would you do it again for some of your other films?

>> i think i would. we have to look at the business model for which films merit it and which films don't, and that's going to be defined over time. the lie on king was a successful rerelease in 3d. so was star wars. and now titanic is doing very well in theaters around the world. so we know that a certain type of film that has been very popular in the past can come back to theaters, have a second life. >> so "avatar" made more than $2 billion worldwide, two sequels have been announced. how do changes in technology excite you as a story teller? are you concerned about making films bigger and bigger to draw in audiences willing to pay premium ticket prices? >> i think you have to keep up with the audience's expectation, and i think we have to give them a great show. we haven't gone as far as we can go in making the image special in theaters. we can go to higher resolution, higher frame rates, and we can

always increase light levels. that's one of the biggest down falls of 3d in a lot of cinemas, it gets dark when you put the dark glasses on. the exhibition community is stepping up, realizing that the audience is stepping back a bit from 3d and they have to up their game to charge a premium ticket price. >> let me ask about your own expedition. you just emerged from solo expedition to the ocean's deepest spot. it hasn't been visited in more than 50 years. you're the only person that's ever done this solo. >> right. >> what did you see in the marry and a trench? >> we actually dove in the one in papa new guinea and part of the mariana trench. deepest was 35,750 feet i think it was. what i was struck was the sense of desolation and sense of alienness and removed from our

world. but even there in this place where the pressure is so intense that it could crush steel, it could crush titanium, you still find life, and there were these little creatures swimming around the sub. so in an age when we think exploration is sort of done on planet earth and you can google any place on the surface of the planet, there's actually a huge, unexplored frontier down there. and the geologists are also very interested, because the deep trenches are formed by this abduction process, one plate going over another. this is where the enormously destructive tsunamis are being generated by the geological activity at the bottom of the trenches, so we just need to know more about them. >> my thanks to james cameron. up next, we will look at the news this week that will impact your money. as we take a break, how the stock market ended the week. back in a moment.

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from citigroup, goldman sachs, bank of america, johnson and johnson, microsoft, mcdonald's, ibm and others. tuesday, the 17th, this is the deadline for filing the 2011 income taxes. we'll get the total number of residential units that began construction in the last month. then thursday, the nation's realtors report on existing homes sold. that does it for us today. thank you for being with me. next week, we get all wet on earth day with discussion about the economic shock waves hitting the water. have a great week, everybody. see you next weekend.