first ebay announcing it will sell off paypal as its own company. we speak exclusively about the future of both companies and mobile payments, listen. >> paypal has the ability to provide a payments platform that can be used on the we said with merchants all over the world and on mobile devices. and those worlds have been relatively separate and distinct. with the way technology is evolving with the tokenization coming in and the mobile operators like apple coming in many technology ecosystems want to enable payments but don't necessarily want to get into the payments business themselves. and the unique opportunity we see for paypal is to power torques enab, to enable payments on many systems. >> a couple of the systems you mentioned like apple and visa. these happened recently. the board seemingly made up its mind about this split prior to

that, did it not. >> sure. but they are just the early indicators of the kinds of changes we think will be happening over the next three to five years. the way mobile technology is evolving we think you will continue soo see profound changes in how people shop and pay. >> has apple gotten the lead on you. >> i think we have a lead in payments zblon. >> on the technology side if i can swipe my thumb and just o go like this. >> well paypal is going did 27 million in mobile payments last year. we've done over a billion mobile payments and i think there is a lot of opportunity and paypal is clearly investing in that and out ahead. >> david onset right now as the notion that e-commerce and payments are converging i guess is no longer useful as ebay. >> after saying they belong together for some time and of course as you point out that

e-commerce benefits. and e bay benefits from paypal and peaypal benefits from epayments they consider that to no longer be the case. >> alibaba has set an interesting model for these businesses with its payments units separate. and now post ipo they are saying when ali pay goes public it could rival that of the e-commerce company. >> did they say? >> that is what they are saying, several years out from now. but that begs the question of whether the growth is that much better as stand alone businesses with the focus they can have on their own industries. do you think that these two companies from what you are hearing on potential multiples and potential growth that this is where this is coming? >> alibaba played a role in the extent that it's become such an

incredibly large and important customer and given it is a competitor of ebay again, same way amazon is. once they are independent conceivably can call on alibaba to woo its business. obviously a lot of commerce goes on there. as for the multiple, clearly paypal gets a higher multiple in the marketplace. but yes lit get a higher multiple given it is the faster growing part of the business. whether it will approach anything the likes of alibaba of course shareholders is only hope for. but that was the plan all along. let your higher growth business out there. let it get the higher multiple it deserves. and he used focus. giving the time to allow both companies to focus on core competency. >> john fort, how do you see it from your prism? >> a couple things. don't underestimate e bay the

marketplace business. very often people pay attention to the higher growth business and the boring business gets shorted. but that ends up being a decent bet going forward. there is a lot of innovations in faster delivery. we see that right now. that is one thing. the other thing is paypal has a number of challenges going forward. over the past couple years they have been trying to get they are operation mrs streamlined and trying to modernize technology to keep up with the likes of a brain tree which aacquired trying to make this transition from the pc-based web into mobile transactions, things like uber where you pay without having to explicitly tap the screen. is fact they chose an american express executive to lead that business and not a software engineer perhaps by background is interesting. and he will have a challenge in putting together the right team to combat the likes of an apple

and the others you have already mentioned. >> david don aho is of course loathed to give apple full credit for this business. >> this is something that the ba board and the management team, senior management team at ebay have thought about every year. they engaged in a bitter proxy fight they clearly won against icon. and donah oe did a good job articulating why. now i wouldn't say a difficult position to be. i don't know how much credit icon gets for being a great invest or always being in the right place at the right time. >> it is going take time to finalize this spinoff. these don't happen overnight.

whether a suitor will come out of the wood work for either unit. do you see a scenario where either of these gets bought before it's fully effected? >> you can't rule it out. it's not something i have heard at this point. this as tax free spinoff. if someone were to try to buy the one or the other that would result in significant capital gains but you can't rule it out. there might be potential interest in at one or both. >> time warner cable and now time warner entertainment. so you put enough time between when these announcements happen and again suitors get their ducks in a row. >> these splits take some time to actually effectuate. at least a year. but then if you had interested in the acquired company there are still issues when it comes to taxes for a spunoff company. >> ebay hanging d ining on to a

today. >> wallet mossberg joins us from washington, d.c. today. >> i think it's fascinating carl, mostly in the payment side to me. not to denigrate ebay but obviously the new thing t thing yet to go mainstream is this mobile payments thing. as everybody has mentioned apple is getting into this. they are getting into it next month. they don't have a wait a year for some corporate split to take place and maybe paypal doesn't either but they will be pretty preoccupied. so i don't know i think in a way the split which, says we think there is value in the payment side by itself, validates what apple and people like square and other people are doing. >> what's the natural reaction

to this from apple? or amazon, or square or stripe or anybody else already in the space? >> i think they -- a they probably see it as a validation, b, they are glad paypal which has not been able to pull this off anyway, will at least be preoccupied with the whole split process for a while, partially preoccupied at least. and probably they are happy that they are ready to go or they are planning to go next month. now i want to say one more thing. we've watched apple with the iphone 6 launch a botched software update. they can't afford to execute apple pay poorly. apple pay has to execute really well. because now a liberated paypal will be coming. >> how many opportunities has

paypal already missed. being captive under ebay they lost out on amazon that was attached to a competitor. apple went ahead and negotiated with hundreds of thousands of merchants and the paypal is trying to go into brick and mortar. so how much catchup do they have to play. >> they have a lot to play. to be honest i personally don't know anyone who uses paypal in brick and moorter to pay for things. that's not saying a lot because most people don't use any mobile system for that. i think there is time for them to do it. it is not like they are out of time. but they have missed numerous opportunities. they should by all rights be way out ahead leading now and, you know, there really is nobody leading. >> right. >> so it's hope. >> let's move on to your review walt. you tested out wifi on the new

iphone 6. speaking of apple. focus on t-mobile for instance. wifi unleashed. what is that. >> t-mobile is the smallest carrier and trying to be very unconventional. one way to make up for a small network is to wrap the calls over wifi, not charge the customers data charge and make it seemless. and they have had wifi calling on many phones but iphone 6 is the first to allow dhoem thisemo do this in a seemless way. no extra app. just use the phone you already have. the call goes out of wifi. if you walk out wifi range, it just right onto the cellular network and vice versa. and that is what they have got on the iphone 6 now. >> people have tried this in the past, right? about seven years ago. you even wrote about it back

then. >> that's right. t-mobile itself tried it in the past. kind of wonky. only worked on a couple of primitive phones. one blackberry and a couple of others. they dropped it. now they have it built into their network under what is called voice over lte. and apple has built all the necessary stuff into the iphone. any other carrier could do it. they are just not. i checked with all the other major carriers in the u.s. nobody is doing -- the big guys aren't doing it at all. and sprint isn't doing it on the iphone and doesn't have the handoff. so t-mobile has an opportunity here to say to customers, okay you think my network is too small, you don't like my coverage. use wifi. just the same. no problem. >> they love to stir it up about ledger and t-mobile. and good news for those shopping for the 6 this fall. thank you.

>> head lines out of russia that turned heads this morning. michelle. put out a statement refuting earlier reports considering capital controls. the bank of russia informs it is not considering the reduction of any restrictiones on the cross-border movement of capital. they were going to have to say this. because the reports earlier they were thinking of doing this. and think about the psychology. if your bank tells you maybe in a few weeks or few months we will not give you your money. so you would go your money today. the minute there are reports considering it. there would be even more capital flight. we have seen the ruble come off the weakest moments of the day. now 39.5 per dollar. it had gotten up to more than 40. the blue at the bottom is the stronger dollar. so we see the dollar weakening against the ruble there.

but once again russia trying to refute reports they were considering capital controls. >> when we come back the future of oracle. new ceo mark hurd will join us for his first broadcast interview. next when squawk alley returns. dow is up 57. ♪ mr. daniels. mr. daniels. look at this. what's this? clicks are off the charts. yeah. yoshi, we're back. yes, sir! ♪ more shipping! more shipping! ♪ [ beeping ] ♪

oracle world is understood way in san francisco. with mark hurd delivering his keynote speech yesterday. a new look at the cloud computing and the future of its business. mark hurd is the ceo and joins us from san francisco. >> mark hurd, ceo of oracle alongside safra katz, also crow ceo of oracle. first i want to talk about the new title and also m and a. so tipco recently got taken out for a little times forward revenue. why didn't you take it out? >> you know that i can't comment on m and a. and i'll just leave it at that. >> are we in a space where m and

a is an important way to grow? because it seems like we're s seeing enterprise consolidation picking up again. >> oracle is one of the only few tech companies growing its top line. point two, certainly m and a is a way to grow. and we are a build and buy company. frankly even a lot of things we've cone over the years has been more to build the portfolio and capabilities certainly as we engaged in growing the cloud business and portfolio it's been a way to supplement pretty strong organic development as well. >> right. so a lot of people on the structure that you are in right now with two ceos. say, that's got to be temporary. it doesn't last and your competitors have have had it for a while. sap worked eventually it shifted. why are they wrong in this case? >> i'm only guessing it is probably the same people who said two president was different

as well. i.e. really what we've been doing for a while. it's important to note we a great chairman with larry. larry is not going anywhere. we've been working for a number of years now. and the thing we're most focused on john right now is execution. we believe strongly in the strategy of oracle and believe in the strength of or product portfolio. we believe there is a change in the industry with the cloud at the platform level t infrastructure layer. we have a chance to lead that and change that and help companies. if you were one of the keynotes yesterday we had a number of large customers talk hukt difficult it is with all the digital disruption out there today to move from where they are to where they need to do go, to deal with the secular changes in the world. and we are one of the few companies that can help them get there. so for us we're in a great position and we need to focus on

execution. that is the number one thing on our mind. >> let's talk about hardware. a lot of people poo pooed and idea when oracle bought sun saying they don't really want it for the hardware and then after you took the hardware people saying the margins are going to be terrible. you brought them up. but lately it seems they have pl plateaued. so what moves the needle from here? how do you get hardware revenue growth on top line to grow while keeping margins. >> we grew our engineered systems business double digits. we've now sold almost 11,000. we were joking about you having an engineered system with you. and we've sold now almost 11,000 of those. we've done over $3 billion of hardware alone over that in engineered system so it's become a big business for us.

and this is really the marriage of hardware and software together. that part of the business has taken a large amount of the market share. and it really is sort of what you are holding there the integration of the hardware and software to create a different better user experience. this is the way we think computing is headed and the growth in that part of the business is significant for us. >> talk about the sland scape for me. it seems like you have really pioneered that engineered systems approach. you have proven there is a market for it. but then at the same time cloud, software as a service where people are able pay by the drink. so there is cost service, optimization, and performance. where do you expect most of the growth to come from? at the narrower margin end of the spectrum where you have infrastructure as a service where you are saying you are going to be price competitive?

is it at the higher margin end in engineered systems where you are trying to get more revenue? >> that was one question. like 12 parts. good. first, i think the trend in engineered systems is similar to the trend in cloud, what is really motivating people to go this direction. and that is simplicity. the fact i can move budgetary dollars they spend gluing things together and doing this integration and moving it to somebody else. in this case to us. we glue the operating system to the server, the database to the operating system. perhaps middle ware to the database, even the application. and we do that work and the customer doesn't. it's similar to the same thing about cloud. the fact is i now get software over the internet. i don't know the server or the operating system. it is done for me. the work is done in a way that is simpler now for me. and that drive i think moves through the industry over the next several years. to your question about cloud.

there are three layers to the cloud. platform, as you mentioned. infrastructure and software as a service, which really is applications. if you break those three layers out, there are two layers where oracle is extremely differentiated. that is at the platform level. larry, this afternoon will be doing some demos. demoing the platforming a as service. think of two core products at the platform level. java and the oracle database. that will allow our customers to build applications, if you will, over the internet. with software over the internet. they need a computer. they don't need a license fee. and about 30% of all it spent is done in development and testing of applications. >> microsoft has been in this swas space. you are going to be going head to head with them. you make the argument they want to use oracle's databases versus microsoft's offering and forth.

how tough is that sell given they are there already. >> they have dot net. we have a java. i like our hand. we have the oracle database. they have a database. we like our hand. we are differentiated at the platform level with the best tools in the world. at the application layer, we have two strategies that makis unique. one, we have best of breed applications whether it's hcp, erm, epm, marketing sales. we want each application to be best of breed. we are winning in hcm. we are winning -- perhaps the only one with erp, epm in the cloud. marketing we've taken a huge lead in marketing cloud. and then we are now the only one with a suite of applications. so that now instead of having to go to 25 or 30 separate cloud providers, you can do the bulk of your application work with one company being oracle. let me just finish. differentiated platform level.

differentiated a the application level. infrastructure, we think you'll move. and we'll price right up against the big guy. >> and that is what i want to slip in. is that that oh you i preserve margins when you are price competitive on infrastructure by being able to up sell the other critical pieces where you believe oracle is best of breed. >> we'll price right on top of an amazon because it is convenient. if think they are applying platforms from us they will be infrastructure us. and it's going to be a great market for us. >> ceo of oracle, mark hurd. thanks for joining us on squawk alley. >> we like our hand. what a quote. and fantastic stuff from john. when squawk alley comes back, is this the future of hollywood, a sequel to crouching tiger hidden

dragon coming out in imax theaters and netflix at the same time. plus a stay tuned, the new ceo and cio of pimco will be on cnbc at 2:00 p.m. eastern in an exclusive interview. we'll be right back. income exps 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. chocolate, soybeans, thisand apricots. made with what kind of chef comes up with this? a chef working with ibm watson, on the cloud. ingredients are just data.

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just getting a statement of carl icon after ebay and paypal said they were break out into two companies. icon is happy this is happening. calls this a no brainer. goes on to say that the payments industry in his view needs to be cons date e consolidates because of the apple pay and the sooner the better. talking about acquisitions made by paypal or a merger between paypal and somebody else.

>> investors say if you are a big investor. you need to look at whether acquiring paypal to get that technology. this is not the last that we've seen in this sector. he talks about the tax structure. he thinks it should have as well. so we'll see what he eventually says. you can look at his tweet there in the full statement is linked. for the second day of the markets we are seeing a firming ouch t up of a averages. >> europe is shutting out on the month and also on the quarter and moving closer as rbs puts it to the trajectoectory of japan the 1990s. the inflation is now at a five year low which feeds through to thursday's ecb meeting of

course. on their detail plan to buy asset backed securities. if you look at the quarter overall what is fascinating is that the united states and europe have basically traded together despite the huge differences between the two economic blocks. currencies have moved, bond markets have moved to differentiate but not the equities which in itself they say something about the way investors are being pushed at the moment. the worst quarter the euro has had in four years. a lot of european assets will still be on the defensive. that is on the first sbans instance because the european court of justice is going to hear a challenge to the ecb to intervene on the bond markets and second because the ecb's health check on the banks and they might show the banks are

biting and some may have to change their behavior and they have to show that it's tougher. so goes the argument. one last trade, one last mover before i hand you back. the u.k. retailer, the apparel retailer next is on -- it is not kicking over into the autumn sales they wanted and next says if that carries over into october they will be lowering the estimates. although we had a very strong growth from the u.k. today. >> when we come back a major hollywood movie coming to imax and netflix at the same time. we'll break that on a first on cnbc interview when we come back. take a closer look at your fidelity green line

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netflix is taking aim at hollywood after the success of house of cards and orange is the new black. it's teamed up with the weinstein company to release the sequel of crouching tiger, hidden dragon simultaneously with imax theaters. rich gal fond the ceo of imax.

good to have you. >> great to be here. >> there is a lot of talk about the fact that netflix is moving into the original movie bs thank you fact they are doing it with a cornerstone in the theaters as well. >> it started about a year ago we were approached by netflix and we talked about a number of different titles over the last year. and i'd say over the last month or so it coalesced around crouching tiger. and i think the way we looked at was there were two kinds of ways to watch a sporting event like a baseball game. you can go and be at the game or you can watch it on television and i think we thought of this experiment of what happens if there are two ways to release a movie. one at home and one in the premium imax format would audiences come. and this is traditionally the slowest time of year and we thought it would be a good idea to try it out. >> you saw the conversations coalesced around crouching

tiger. were there other movies you were discussing and was this the right fit for release. >> they were other titles but they didn't come to fruition for whatever reason. this is the first that came together. >> do you have concerns an otherwise strong opening gets conablized here? >> of course i have concerns. th that's why i call ate it an experiment. the we'll see what happens. other distributors have to play conte content. in this case we're not going to do this. in with the drisistributors. we're saying give it a shot. see if it works. imax has really thrived because we've innovated and taken different approaches but over

time i think what we've done is grown the box office and changed the eco system and it might not work but we still want to give it a shot. >> i remember when you have to go to the history museum to see imax. >> science and technology. >> how does the structure of this deal differ financially than when something is just being released by imax? >> our typical release part earn is something with a hollywood studio like disney or warner or fox, whoever. and we'll distribute the films to the imax theaters around the world and they are required to play those and we have a fixed fee arrangement with the studio and the exhibitor. in this deal we're giving the exhibiters the choice because it is being released simultaneously of whether they want to do it or not. and again back to my analogy about sports or a concert. i think enough people will pay

money to go to a theater and the movie is going to look fantastic rather than sit at home. and we'll all find out. >> we know how leveraged you are to china. are you worried about the hong kong protests? >> not really. i this i the chinese government is extremely sophisticated. many of them are western educated. and i think the consumers in china have too much of a stake in things like entertainment and like hollywood and like the business. and i think the government has a careful balance to make. but i have a lot of faith they are going to figure out that balance. >> over the weekend we got deal talks percolating between soft bank and dream works. cold water has been powdered on t poured on the talks in the last couple days. but say it does get acquired, how would that effect your business? >> i don't think it will. we have a good relationship up and down the chain at dream works. we had a train your dragon 2 in china performed very well.

i don't think it has an impact. >> finally after this, do you think you will triet again? does it feel like you might? >> if this works we will try it again. if it doesn't work i think we'll go back to the drawing board. >> we'll see what august brings. it's going to be hard to wait. thanks for coming by. when we come back, intel calling it the ultimate fitness and sleep tracker. but is it worth your money? mike bell will break it down in a few moments. first here's rick santelli. >> we're catching the day and we're going to talk about today's consumer confidence in chicago pmi but maybe more important looking towards thursday's ecb meeting. several stories written about the collision between central bankers in europe, finance ministers against potentially politicians. an important dynamic and the u.s. employment report all after the break of course.

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at the top of the hour ebay and paypal are splitting up. how do you play it? and the it's the last tradie ii day of the quarter. all the winners and losers. plus the playbook of the last three months of the year. and this auto tank has the most gas left. and we'll have much more. carl back to you. >> let's get to the cme group in the meantime and talk to rick

santelli and the santelli chch. >> i'm going to talk mostly about the upcoming ecb meeting. but it is not a unique story. it's a central banking story. and when i was talking to ie rye harris today. he mentioned and everybody is passing around an ft article. merkel has the duty to stop draghi's illegal meddling by sims. >> and let's think back. the issue is that central bankers have moved from being nudgers on monetary policy so basically fiscal policy. and in the u.s. it is every bit the same. and there is lots of statalk an even comment bis ben bernanke and janette yellen and many comment

commentators that the things needs to go in that direction. and/or in this country. because there is a log jam. things can't get done at least to the liking of the masses, the citizens the voters. but what really that has done is it's taken the voters out of game. if central bankers didn't have such a large foray into politics, politicsings would have had to sink or swim on the merit or lack therein on policies that weren't creating the growth. but central bankers early recognized they needed to buy time to create stability and the growth would come. but the problem is in the parlance of trading is that the spread between these two continues to get wider and wider and wider. and when it comes to the u.s., many stories written -- my personal favorites come from

zero hedge -- about how qe and the general tampering, meddling, management, intrusion of the fed has changed forever potentially things like overnight funding. and we are going to see maybe that exaggerated quarter end. quickly in terms of the data in europe, still 11 and a half percent unemployment. i know five year low in pricing. but how are the countries going to get out of the mess if prices don't come down. thursday what you are to hear probably is a lower level of assets to take some toxic securities out of system that. probably will be the big had line. back to you. >> i'll take it from there. thanks rick. when we come back, a closer look at intel's next generation of the wearable technology. vp mike bell will break it all down for us next.

big day? ah, the usual. moved some new cars. hauled a bunch of steel. kept the supermarket shelves stocked. made sure everyone got their latest gadgets. what's up for the next shift? ah, nothing much. just keeping the lights on. (laugh) nice. doing the big things that move an economy. see you tomorrow, mac. see you tomorrow, sam. just another day at norfolk southern.

basis unveiling it's latest fitness device. joining us is mike bell. vice president and general manager of the new devices group at intel. good morning to you. >> good morning. >> walk us through the the product. we know it's a crude ecrowded s. this is going to list for 199 but what comes with it. what does it do. >> we also think we have the

best fitness tracker on the market. the product which i have here is the really high quality. made of aluminum. gorilla glass. it is a touch screen. there are a number of sensors on the back including rt thheart r sensor that monitor your body 24/7 for up to eight days or more. and the added benefit is you don't have to charge it every night for devices. >> water tight for swimmers. that's a big question. how easy is it to use? >> really simple. we adopted a mobile first approach with the census peak. and you have an application on your ios or android. it connects over bluetooth low energy and it's seemless it. syncs in the background. once you set it up, don't have to worry about it after that. >> you spent 16 years at apple

and of course we have a few months before we actually get the apple watch on the market. how much of this is blocking and tackling against an eventual apple watch? >> you know, i actually look at this as a really different device than a smart watch. smart watches they run general purpose applications. i mean the great thing about the apple watch is it really has le legitimatized the space for us. people aren't really asking will smart watches happen? it's more till everybody owns one. this is targeted at fitness it. does a few things and does them really really well. it is not the swiss army approach. >> at 199 it would seem it's a little bit more expensive than other health bands. how did you decide on the price and what is your target consumer? >> i'll tell you a lot of the other bands out there, as you say there are less expensive

ones on the market but most of them aren't made of the high quality materials. most of them don't have touch screens. most you can't wear while you are swimming. as you mentioned it is water proof to 5 atmospheres. so this is really a very high end device and it is targeted at this point to everyone from the elite athlete to the person just beginning exercise and wants a better idea of their fitness level and how exercise impacts their body. so we think it will appeal to a large number of people and it comes in both white kz not really my color to this kind of cool black one with the red band which is i think the one i'll be wearing. >> mike, on a broader level just outside of intel alone. do you think wearables are going to be producted that are sold in ie silos essentially. here is a product for the fitness kbeek geek. here is a product for e-mail. or is there going on the on

overarching product. >> i think at some point you will see devices that are more generic that have multiple functions that are really good. right now i think the devices that are siloed, as you say, are really good at a certain thing. people can can understand what they are good for and why they buy them. the moregenic devi genigeni geg people are taking a wait and see. and frankly they don't look very good. that's something we're trying to change with the relationships we have. >> this comes out in november. where can you get it? >> it will be sold in a number of places including amazon and best buy. >> and maybe the intel store if that's how tech is going. mike thanks for your time. mike bell is intel's vp and gm of the new devices group. >> this we have two indiegogo

crowd funding projects. they're going head to head and we're give dwroing you the chan decide which is best. >> button. it's making the internet of things simple. users hit the button and can send emails, texts and social media update. it also connects to the physical devices from starting coffee makers to controlling thermostats. the campaign's goal. $50,000. so far it's raised more than 36,000. signul is a personal beaking system. launches messages apps and sends alerts to friends just by walking into a room. starting up spotfy music when in the car and unlocks doors when arriving home. the campaign's goal is $25,000

it's spra eesurpassed its goal 0,0 30,000. >> as always you have two days to get votes in. when squawk alley comes back the news keeps coming for apple. we'll look at the latest heading for tim cook and co-. stick around. how do you beat the number one seed?

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a check on the market right now. all major averages are in the green. dow up 44 points. s&p up by three. nasdaq up by nine points and that is despite weaker confidence out of the the university of michigan, as well as case shiller. home data earlier this morning. that said though, when you think about the flash points abroad, people are continuously look at the u.s. market as a relative safe haven and that's helped firm up u.s. equities as well as some technical levels at the trade today. look at the commodities right now. 1207 is on gold. wti. >> that is ridiculous.

>> down by three dollars. 3% to the down side. just 13% in just the last three months. i know the bears are watching that closely. >> and hovering right above the two year low for much of the quarter. incredible drop in crude. and then gold which had been flirting with an eleven hand all morning long gets back to it. and. >> incredible move in gold. i know one everyone is watching closely. >> in the meantime a couple pieces of apple news for you. first the eu officially ruling the tax deals in ireland for apple were illegal. no things decided but it could mean billions of dollars in minus. china has approved the iphone 6 for sale across the country. that might be helping shares a bit this morning. october 17th i believe is the launch date. and john fort was writing earlier on this morning how they might take bite out of the emerging gray market over there.

all the iphones smuggled into the country since it went live here. >> with record numbers ex china and now adding china in, that is going to be a stunning sale for apple. finally we want to talk again about the ebay and paypal split. we asked jeff jordan a president of ebay north america convinced had board to buy e bay just in july whether they should split and here what s he he said. >> i believe they should remain linked. the synergies are unbelievable. and you can try to maintain those in a commercial deal but given how fast technology is changing i think that is impossible. if you had done it five years you wouldn't have contemplated mobile.

and. >> he pitched this morning, i told them the payments business could be big thaern the marketplace. we'll see soon. >> isn't that amazing. for a long time we said why isn't the name of the company paypal? and now we know there will be one with that name. >> welcome to the halftime show. joe terranova is senior managing director. stephanie link. pe pete najarian. and josh brown. also ron sloane of invesico. and the markets in the last day of a volatile quarter. wall street remains pretty bullish. the question is, pete, can we reach those targets.