i like the pricing, but you've got to watch me tomorrow morning for the interview. there's always a bull market somewhere, i promise to try to find it for you. i'm jim cramer and i'll see you tomorrow! hello. you're watching "worldwide exchange." welcome to today's program. let's scroll the headlines for you and tell you what's coming up on today's program. facebook ramps up the shopping spree. the social networking giant spendling $2 billion buying up virtual headsetmaker occular. promoting key positions of the 21st century, but miss out on the top job at fox? kingfisher prices its ipo at $20.50 a share, just the mid

point of its range. are investors nervous they can't recreate the success of candy crush? president obama criticizes russia as merely a regional power. leaders are in brussels for more talks with the eu. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. warm welcome to today's edition of "worldwide exchange." if you're just joining us, welcome to the start of your global trading day. we had plenty of movement from the dow boosted by consumer confidence. house prices solid. will it be new home sales down to five-month lows. but clearly affected by the weather. yesterday, dow up 112 points. we are called higher again this morning by around about 33

points above fair value. the nasdaq at the moment, 2% higher yesterday, is currently trading around 9 points above fair value and the s&p 500 at the moment is around 3.5 points above fair value, as well, after being up some is .4% yesterday. the ftse cnbc global 300 at the moment is up around 0.25% and just an hour into trade here in europe, we've seen the ftse making moves again. up 20 points. it was up 84 points during tuesday's trade. the xetra dax is up 0.75%. 0.5 for us cac 40 and the ftse mib is up 0.3%, as well. we continue to look at was going on with the flattening trade. big moves since janet yellen spoke. today we'll be looking at a key five-year auction. ten-year yields at the moment, 2.74%. we're down to around 2.73% during the session yesterday. and after big losing on five-year yields, they have come down slightly, as well. on the currency markets,

dollar/yen has been fairley steady. we'll hit that 101.20. we're currently at 102.29. euro/dollar, just below 1.38. yesterday it was suggested there may be a case for negative rates. that would be the best way to deal with a euro in a hypothetical case. then draghi coming out saying he didn't see any signs of key deflation signals. that's where we stand right now in europe. li sixuan has more on what happened in asia today. >> thank you for that, ross. upbeat data on hope more stimulus measure sess helping sentiment in asia. the hong kong index gained 0.7% today. medical stocks rallied after premier said china steps up medical reforms this year. but property stocks met the losses today after a three-day rally weighing on the shanghai composite which ended down by a

modest 0.2%. and some other quiet day in japan with the nikkei 225 gaining 0.4%. shares moved to a two-week high up 1.2% and australian shares rebounded about 0.75% as metal prices were firmer. let's take a look at earnings in china. shares of agricultural bank of china rose to a two-month high as investors cheered its net high interest and dethe cline in nonperforming loans. mengniu darely jumped 8.6% after a more than expected 0.25% raise in profits. daphne international tumbled over 8% after it reported a 66% drop in earnings. that is a look at asian markets. back to you, ross. >> thank you for that, sixuan. catch you a little later ahead of the u.s. open coming up later. some other news we're

following, rupert murdoch's sons have been promoted to key positions in 20th century fox. lachlan has been named as executive of that firm. neither managed to catch the top job at fox. peter rice has agreed to extend his employment in the position. mark zuckerberg, meanwhile, has extended its spending spree. facebook now stopping up oculus which makes virtual reality goggles for $2 billion. the company was created out of a kick starter campaign. zkerberg says the technology could be the next big social media platform. facebook isn't interested in becoming a hardware company and it could potentially generate revenue on the devices from ads and sales of virtual goods.

mark anderson was talking a lot of about oculus hours before facebook announced the deal. he's invested in oculus and a facebook board member. andreesen says he has no part in the deal. facebook stock in frankfurt, pretty flat. oculus of course is the latest in a line of acquisitions from the social networking company. just run this back to you. facebook snapped up instagram in 2012, what was then an ipo for $1 billion. the real was just last month when facebook spend $19 billion on whats app. and mobile gamemaker kingfisher which created the popular candy crush series is launching its ipo today in new york. seema mody has this report. >> candy crush priced at $22.50 a share, which is at the mid

point of its plan, $21 to $24 range. sources say that would give king a roughly $70 million market value. jpmorgan and bofa merrill lynch all acting in this deal. investors expecting a pretty sweet listing. it has a user base in the u.s. and around the world. the game attracted 97 million daily active users last month. some of king digital's competitors include zinga, electronic arts and changu. king is expected to go public under the ticker symbol k-i-n-g. as far as the agenda today on the states, we've got february durable goods out at 8:30 eastern. big ticket items expected to rise 0.8%. just one earnings report of note today, payroll processing firm

paychecks and they come out with their numbers after the closing bell. russia's military has held exercises in a russian speaking region of moldova which borders western ukraine. this comes after russia's ship off the crimea peninsula has been seized by the navy. russian sailors captured the boat last night. meanwhile, ukraine is set to retape its top spot on the agenda when president obama sits down for more talk wes european leaders in brussels today. he's already taken a swipe at russia, describing the company as a regional power. his aggressive policies towards neighbors was a display of weakness. annette has moved from the hague to this meeting in brussels.

annette, is anything different going to come out from today's meeting that we saw earlier in the week in the hague? >> well, actually, it will probably be even more interesting that in the hague because here, president obama is going to meet the head of the commission and the head of the consulate and the trade commissioner. that is the key figure here. very high on top on the agenda here in brussels is the revival of a sweet trade agreement between the eu and, of course, the united states. which actually that bilateral trade is making up almost one-third of global world trade. so it's a huge potential area. and if they were to create such an area of free trade that could act as a -- of gdp growth in europe and almost also to the united states. but there are many obstacles on that road, of course. but they are very eager to

discuss that. it's a positive sign from that fallout, actually, with russia that the united states and europe are now getting closer together. that is also shown by the fact that -- to ask the united states to relax their restriction on exporting gas. normally under the current gas law, the united states is only allowed to sell or to export their gas to free trade partners, which, of course, the eu isn't yet. but there might be some relaxation on those restrictions. sceu wants to diversify itself away, of course, from russia. with that, ross, back to you. >> annette, thanks for that. joining me now in the studio, david cohen. ceo of asset management. david, good to see you. where might this go-between

russia and the west of ukraine? >> to answer that question, you have to think about the big picture. the big picture from my work on the book was all about the decline of the west, the inability of america to fund its defense mechanisms, to basically withdraw from the world and create a vacuum. now, russia itself is not expansive. it's dem graph i li demographic challenged. putin thinks along the lines of very anti-western and wishes to reassert influence. the dollar strategy has been particularly weak. he's failed to completely understand the way someone else thinks and he has his perspective. the power vacuum in syria and

now the ukraine has forced the g-7, what was the g-8, to force russia away from the west. and the biggest risk here is not just about ukraine. i don't believe there's a risk of a wall against russia, but there is a risk that you push this swik statng state, russia, towards china. that's a completely different magnitude of a problem. as china becomes stronger, it leans on russia for reliance and that changes the way america and the west deal with expansion. in fact, they're probably chained to the desk. without any strategic position -- and the problem with obama's presidency, he's focused on the internal bending of his country. he understood something that actually maintains quiet defense and without effective defense to create opportunity for

progressive and expanse -- to move into that space. >> david, stay there. we'll come back to you in a few minutes. still to come, dan loeb is suing sotheby's to remove a poison pill. we've got all the details, coming up.

recap of the headlines today, facebook breaks out the wallet with a $2 billion purchase of a virtual reality headsetmaker oculus. management shake-up, rupert murdoch's sons promoted at news corp. and candy crushmaker king prices its ipo in the mid point range amid fears a follow-up success could be tricky. now, 2013 was a record year for hedge funds. global assets increase by 17% to 2.6 of trillion dollars. this year, it could be more of a struggle as emerging market volatility make the search for yield ever more elusive. last night, the investors choice hedge fund awards and ask them about their biggest concerns. >> russia is one for sure, which i think is not priced fully into the market. but you're seeing elements

develop in asia why and in china in particular with growth slowdown coming from china and response to stimulus, which has been fairley mild so far. and so if china, chinese growth was to slow down, you're starting to hear some elements of default coming through, how that develops, you know, to something that we're watching. >> i think china is the biggest risk in the sense that the acquisition of credit will a few years from approximately 120% of gdp to nearly 200% of gdp is in these three markets and these three of major economies in the developments of major economies. >> these two events, the first time is a rise in interest rates, which i've alluded to. and the second one actually is our inflation develops and how that fits into wages. and inflation is the big question for 2014 because it

will determine policy. >> still with us, here are some of the biggest feares from hedge fund managers last night. what's your single biggest worry? >> i think we -- >> your microphone has come off. you can clip that bag on. >> i think it's just watching -- if you look at the world unfolding, there is a mismatch between the way people invest and the price of risk versus the risks that are really out there. and i think being -- by fed action and fed policies and market manipulations to the point where the reality and the pricing system is hugely divergent. that usually creates -- as an investor, the risk of, you know, 2,000 i think increases every

month we carry on in this. >> that doesn't mean we can't carry on in your so-called sleepy state for quite some time. >> well, we've water on for quite a long time. the one thing i have noticed is when you get these die vernlg en divergences, it carries on for longer than you think. we need to be consistently aware of that. okay. stay there. more to come from you. bank rock's clo is warning companies not to overdo dividends and buybacks if they come at the expense of future growth. the s&p 500 companies last week, many firms have come under pressure from analysts and others to boost dividends. and dan lo on eb's first

point is to sue sotheby's over a poison pill from buying up to 20% of the auction house's stock. he owns 9.6% of the company. he says the poison pill unfairly targets active investors like himself, but let's passive investors buy a 20% stake. sotheby's adopted the poison pill in october as dan loeb started turning up the heat urging its ceo to be replaced and comparing it to an old master painting in desperate need of restoration. still to come on the show, warren buffett is a ma raej continues regulatory issues and an exchange in bankruptcy. it's been a tough few weeks for bitcoin. after the break, we'll find out why the additional currencies are fighting back. ♪ [ male announcer ] when fixed income experts... ♪ ...work with equity experts...

♪ ...who work with regional experts... ♪ ...who work with portfolio management experts, that's when expertise happens. mfs. because there is no expertise without collaboration.

now, the irs says it's going to try the treat bitcoin as property for u.s. tax purposes. that means if you acquire bit coins and they go up in value, you're going to have to pay

capital gains tax. wages and virtual currencies are taxable and therefore are subject to withholding and payroll taxes. joining us with his thoughts is pet peter. peter, good to see you. you've got a platform where you allow people to share, organize and work in teams. why is it important for you to accept bit coins? >> well, it's important for us to let our customers tell us how they want to pay for services. and we find bitcoin to be an exceptional way for them to do that. hence the situation if a customer tells you they want to pay a certain way, whether they want to pay by credit card or cash or whatever mechanism they find to be convenient for them. as a mer chachantmerchant, that we want to support. >> do you have any concerns about it? >> it's important to understand that bitcoin is a protocol and bitcoin, the companies behind

bitcoin are two different things. while there have been some stories in the press lately about individual companies having problems, it's different than bitcoin as a system, as a platform. so there are concerns, of course, about recent news events that affected individual companies. but as an overall service, the ideas are still sound and there's still a lot of people paying attention to and investing in the protocols. >> yeah. there's a lot to come. just stay there. david, what's your view on the bitcoin vis-a-vis the dollar, which is a reserve currency? >> i think its timing is fascinating. whether or not it's valid is a process. it's some mechanism to challenge the stad status of the dollar and create a new currently. the new mechanism is sound in the face of something that's slipping and as we talked about, moving into a phase which has two or three systems piling into reserve status. >> peter, how much do you think

whether the bitcoins can become transactioning in your platform in the future. >> well, currently, it's a small percentage of our customer base. but we find it to be growing. and the people that are using bitcoin to pay are passionate about it. and so the excitement is still building. i think it's still very early and we're going to see an increase in bitcoin use over time. >> and what happens to -- in the meantime? >> well, we accept all different forms of payment. accepting bitcoin is part of on our payment structure. but as i said, we want to accept payment in any way our customers prefer to pay. >> okay. peter, thanks for that, founder and ceo of glip. david marrin, thank you so much from emerging asset management. plenty more to come. is king digital a one-hit wonder? can it crush nay sayers which it makes its debut? we'll have your look at the ipo

market coming up after this. ing. [ children yelling ] [ telephone rings ] [ shirley ] edward jones. this is shirley speaking. how may i help you? oh hey, neill, how are you? how was the trip? [ male announcer ] with nearly 7 million investors... [ shirley ] he's right here. hold on one sec. [ male announcer ] ...you'd expect us to have a highly skilled call center.

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this is "worldwide exchange." i'm ross westgate. facebook ramps up the shopping spree. the social networking giant spending $2 billion buying up virtual reality headsetmaker

ocular. rupert murdoch's skegz succession plan moves forward. sons james and lachland are new promotions at news corp., but miss out on the top spot at fox. are investors nervous king won't be able to replicate the success of candy crush? and russia is no super power. president obama criticizes the country as merely a regional power that intim dates neighboring countries. this as he touches down in brussels for more talks with the eu. display you're watching "worldwide exchange," bringing you business news from around the globe. a very good morning to you. we've seen equities move higher and indicated higher again for

the open in the states this morning, as well. the dow up 112 points yesterday, consumer confidence up to six-year highs. we saw house prices, fairley solid gains, although home sales down to five-month lows. this morning, the s&p 500 is around, what, four or five points above fair value. the nasdaq is some 12 points above fair value. and the dow up 112 points. this morning, futures are indicating we've got to move higher by around 49 points above fair value. as far as european equities are concerned, we have had gains, as well. the ftse is up maybe 4 points from yesterday. today the ftse cnbc global 300 is up 0.3%. and the ftse 100 is up 0.5%. we're now a percent higher for the xetra dax, our best levels of the day so far. the cac 40 is up 0.8% and the ftse mib is up around 0.6%. as we look ahead to more numbers out of the states, what are investors to do? this is a recap of some of the

thoughts we've already had. >> the market positioning is very short aussie, very bearish on china and australia and as a result, you know, the pain trade is really a continuation higher in the australian dollar and in most risky assets for that matter. >> well, we observe what makes us worry is that investors seem to be willing to sort of play -- and tips on a couple companies in the hopes that they will somehow inadvertently on one of the big growth stories of the future and a lot of investors of '99-2000. >> it's pretty clear differentials are moving in the wrong direction, monetary policy, all those risks that people know for years are

showing up. so our point for the yen is let the cycle play out. let the dust settle. you don't have to try to -- bottom. six months from now or 12 months from now things stabilize, there's plenty of time to catch the next cycle. mark zuckerberg continues his shopping preafter buying whats app for $19 billion, facebook is now snapping up oculus, which makes virtual reality goggles for $2 billion in stock. that technology could be the next social media platform. facebook isn't interested in becoming a hardware company and it could potentially generate revenue on the devices from sales of virtual goods. facebook stock in frapg further is fairley unmoved. at the same time, king digital has prices the ipo at $22.50 a share, which values the maker of the candy crush video game at

around $70 million. king sold more than 22 shares, $ $million on its own. king's biggest shareholders will retain a 44% stake after the ipo. the co-founder will hold 9.5%. king on the nyse today under the ticker k-i-n-g, which seems fairley appropriate. rupert murdoch's sons have been promoted to key positions in 21st century fox. james murdoch has been named the cooperating chief officer and brother lachlan has been named coexecutive of that firm. neither managed to grab the top spot at fox. the current chairman and ceo is agreeing to extend his employment. joining us on the phone, heel

ya. and joe, thanks for joining us. alex, your view, first of all. what does this mean for the long-term running of news corp.? >> well, over time, there's been a -- feel to the operation. the murdochs have always been involved in very key management positions and they've always retained a significant ownership of the voting shares. so to some extent, this cements the reexisting position, which is that the murdoch family was deeply instrumental in the running of the company, but it maybe takes t to the next level. >> this raises the question is rupert murdoch stepping down anytime soon? because if you look at the announcement, lachlan will be sharing the top job chairman of both companies after that split of news corp. from 20th century fox. so the key is whether he's stepping aside anytime soon. james has gone into an executive role, as well. he will be sharing the charge

with james kerry. this is a man who has been in the business, has been managing it in a bunch of scandals for the murdoch kids. but now he's seemingly having to share the position with the kids. you wonder how they're piecing things together to eventually step aside. >> it's a fascinating story because the rise and the fall of the murdoch plan has played out in recent years. james murdoch really had taken over as a parent, he was a very successful ceo at bskyb. institutions loved him. he was chairman. after the news hacking scandal here in the uk, the closure of news of the world, it forced him to step down from those positions and people were talking about would elizabeth murdoch regain, come back into the fray, would lachlan succeed? and what you've seen today is massive succession planning. you see one half of those two brothers take over the board control position and the other

half take over a management position. >> they've all had their scandals, though. it started with lachlan murdoch, one tell, collapse of a telecommunications company in australia. >> he stepped back. he said i don't have the ambition. >> i sat through a very long court case with lachlan murdoch where he had to explain his actions. many investors were hoodwinked at the time. elizabeth murdoch sold her business to a high priced -- >> this -- >> investors were very annoyed by this. >> spend millions of pounds and that's where the problem is. alex, let's bring you back in here. what do you think of news corp. as an investment? >> we have two companies. we have news corp. and fox. i think news corp., like many publishing based corpse ed corp faced issues. i think they're looking for new

initiatives. absolute growth. i don't see the prospects for that business being particularly stellar. fox is a different kettle of fish and i think the growth story there is much more key clear cut. >> i think from the investment that lachlan has made with his private company, he's been very nimble out there buying assets. he bought a radio station, a commercial television network, so you might be thinking you take the business down to digital, and that may be the case. but he's almost acted like a private equity model where he's gone out there and unlocked value. you see more of that with news corp. >> one thing to remember is the murdochs aren't going anywhere. they control the majority of the vote and they'll be on the steering committee for generations to come and we're seeing that today. >> thank you very much indeed for joining us. we'll take a short break. still to come, facebook goes

virtual. we'll have more on the company's motivation to buy oculus. the company isn't even on the market yet. we'll be back. ♪ [ male announcer ] how could switchgrass in argentina, change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds

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wallet with a $2 billion purchase as a virtual reality headsetmaker oculus. management shake-up seese sees rupert murdoch's sons promoted at news corp. and candy crushmaker king premiers their ipo amid fears a follow-up success could be tricky. mark zuckerberg has continued his shopping spree opening up facebook's wallet. bertha has more from us. she's at cnbc hq in the states. morning, bertha. you're not wearing your headset yet. >> i am not. but man, every time you hear about these technologies, it feels like we're getting more and more to minority report, you know, the film with tom cruise where the ads will pop up for you. just last month, facebook forked over $19 billion. the popular messaging app whats app. shortly after, mark zuckerberg

said the company was likely done with acquisitions for a while. i guess for a while is relative. facebook is spending again, buying oculus, which makes virtual reality goggles for a cool $2 billion in stocks. oculus began as a crowd funding project on kick starter. it's one of the site's most successful ventures that after the pebble watch and the ver on ron ka mars movie, its products have yet to hit the commercial market. tech crunch reports the deal came together rather quickly over the past week. in a statement, zuckerberg says mobile is the platform of today and now we're getting ready for the platform of tomorrow. oculus has a the chance to create the most social platform ever and change the way we work, play and communication. zuckerberg says facebook isn't interested in becoming a hard wearmaker. oculus will continue to operate as a separate company. facebook could generate revenue from the devices from selling

ads and virtual goods. in a later post, zuckerberg talks about the potential for virtual technology. he says imagine enjoying a courtside seat at the game, studying in a classroom of students or study, a doctor face-to-face just by putting on goggles in your home. mark andreesen was talking a lot about oculus hours before the deal. he is both an investor in oculus and a facebook board member. andreesen later said he had no part in the deal, however. mark mahaney says while facebook's recent run of acquisiti acquisition is somewhat concerning, the deal doesn't seem irrational. checking shares at this hour, waiting for the board, we need a virtual board, it is now up fractionally at this hour. it's interesting, though, i don't know if you've ever

donated to one of these kick starters before. some of them will sort of let you buy in and get some sort of recognition. at this point, oculus had about $2 million on kick starter, but didn't give away any equity. >> isn't it, i may be wrong about this, bertha, but in the states, you're not allowed to give away equities because they -- i might be wrong. i'm from the uk. you can crowd fund equities, but you can't in the states. >> yeah. not at this stage. but nonetheless, i've got a feeling, you know, a company that was valued before at about 2.5 million and now for $2 billion, you've got to be kicking yourself. >> you got a reward voucher. i don't know what you got instead. you get a reward voucher. >> i guess virtual profit. put on your headset and i'll show you a bank account

somewhere out there. thanks for that, bertha. joining us with his views, mark little, principal analyst at ovuvan. mark, for this firm? >> very, very difficult. it's perceived value to mark zuckerberg. and mark zuckerberg sees virtual reality as a new medium. i know we've all seen it around for a long time. >> this is late 20th century, this technology. >> indeed. but i think we're now in a position where virtual reality is now happening. mark zuckerberg sees the medium as a future and he's not buying a gaming device. he's buying a virtual reality platform. that's the key element here. so as a platform, he sees it as worth $2 billion. >> how do you mesh et with facebook? or is it just something completely separate? >> well, it is partly something completely separate. although we all know how successful linking products and

services and platforms with facebook or any other large communications service is. so it's going to be easy to see how he could drive sales of oculus through facebook, but also drive the activity and social sharing activity mobile platform today, we're getting ready for a platform of tomorrow. you know what i mean? suggesting sort of mobile is going to disappear and we're going to walk around with reality headsets. i don't quite know what he means by that statement. >> he's not -- oculus is not going to replace any of the devices that we see. he's opening a new medium for all sorts of opportunities in learning, in communication and in entertainment, obviously. >> yeah. the entertainment is the one that we came across from like 20 years ago. >> yes.

>> and how will it be monetized? do you think, this space? >> well, i mean, obviously, the monetization of selling this devices them is one way. but facebook have been proven as quite successful at working out, figuring out, as mark zuckerberg puts it, new ways of making money. and advertising could be relevant. but also if we're moving into the learning space, then the sales of -- for example, could be relevant, also. >> we'll see what happens. maybe we should do this interview just wearing head sets. then you wouldn't have to come into the studio at all. >> that would be cool. >> just put a headset on your face and i don't know how that works, but -- >> we'll see if we can arrange that, ross. >> mark little, thank you.

we've had some breaking news in the last few minutes. the latest press conference for missing malaysian flight mh-370 is currently being held. authorities say new objects have been found, but there's no confirmation that they're related to the missing plane. they also say satellite images show 122 objects in the sea. we'll keep you updated on any new information we get. this is all as better weather is allowing the search for the miss ing flight showing up in the indian ocean. investigators say the brief signal was sent eight minutes after the plane's last full transmission. meanwhile, more insurance claims and lawsuits will further hurt its bottom line. the airline could need a government bailout. still to come, is king a

one-hit wonder or can it crush when it hits the nyse debut? we'll have more, coming up. ♪ [ male announcer ] when fixed income experts... ♪ ...work with equity experts... ♪ ...who work with regional experts... ♪ ...who work with portfolio management experts, that's when expertise happens. mfs. because there is no expertise without collaboration.

on the agenda stateside today, we have february durable good orders out. expected to rise 0.8%. the payroll processing firm paychex comes out with its figures after the bell closes. u.s. futures are indicating another move higher today for u.s. stocks. the dow is currently trading some 32 points above fair value. the nasdaq at the moment is some 11 points above fair. and the s&p 500 is around about 2.5 points above fair value. king digital meanwhile has priced its ipo at $22.50 a

share, which values themaker of the popular candy crush video game at around $700 billion. but the shares are priced at the mid point of the range, which is 21 to 24. king will debut under the ticker k-i-n-g. joining us now, from equities.com, francis, good to see you. the concern about this is they relied heavily on one game, candy crush, but they are at least profitable, which makes a change from a lot of tech ipos. >> right. in their december quarter, their profit margin is 26%. the ibda margin is 24%. it's very, very healthy. if you analyze the quarter, it's 20 times earnings. and if you look at the traffic they generated in february, a third of it came from noncandy crush games.

i don't think they're being degreedy in their ipo. they're selling 7% of the ipo. what typically happens in these companies is they fall with secondaries in the next six months or sooner if they can. so i'm sure they want to sell more into the secondary market. so i know there is skepticism out there, but it is possible some of the pe. i think institutions will want part of it and i think it will be fine. >> yeah. much will depend on what they want from the new games, right? we've got to see more coming from the new games and less reliance on candy crush, i guess. >> yeah, well, candy crush has probably peaked. people won't be playing it forever. it is like a hollywood movie. you don't see a popular movie of and over and over. but i play candy crush. it's a lot of fun. i'm a little bit tired of it.

but i'd be interested in the new games. their traffic for september -- i mean for february was up 15% over the traffic for december. so they're -- through the whole platform, which is 140 million users. their margins are high. if they can develop new products, it would be good. what's going to happen, it will be valued i think base odd what happens in the march quarter, which will be open next monday. march quarter will be interesting to see what those results are. >> a quick drop minute about box. you said it's immaterial for them. why? >> well, the valuation in that, i looked at the numbers. what i do with these companies with high revenue gain is i look at their most recent quarter results. and for the december quarter, box had less than $40 million in revenue.

and it had expenses of more than $40 b million in revenue. and i look at all these cloud ipos. most of them -- none of the other ones that i can remember recently have come out with expenses higher than their revenues. so i think it's a bit premature. now, it's true that they give out one year free contracts to institution to enterprise firms to try to leap them into recruiting revenue. what they're trying to do is take advantage of the current very hot market for cloud enterprise networking software. >> good to see you this morning. thanks for joining us. we appreciate it. and that's it for viewers in the u.s. and asia. "squawk box" is coming up next. for viewers in europe, we have the second hour of "worldwide exchange." that's coming up. if you're leaving us, have a profitable day. plenty more to come. good-bye for now. opportunities aren't always obvious.

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good morning. facebook buys oculus with its latest vision deal. and the company behind candy crush is about to make its debut on wall street. it's wednesday, march 26th, 2014, and "squawk box" begins right now. good morning, everybody.

i'm becky quick along with joe kernen and andrew ross sorkin. we had more fed speak overnight. this was from st. louis fed president james bullard. he says he expects the u.s. jobless rate to fall below 6% this year. he remains bullish on the strength of the economy. despite weaker data that we got earlier this year and he added the fed policymakers will need to see more progress on the markets before they can consider a rate hike. charles plosser was our guest host yesterday here on "squawk box." the markets managed to snap a two-day losing streak after a stronger than expected jump in consumer can confidence. the dow added 91 points to close at 16,367. the dow was up higher, triple dimt gains earlier in the session. the s&p 500 also up, adding 8 points yesterday while the nasdaq added about 8 points, as