it is almost 8:00 a.m. at head kwaequarters in seattle. 11:00 a.m. here in new york. and squawk alley is live. ♪ and welcome to squawk alley. starting with the markets this morning. not a good start to q 4 or the month of october. dow is down 138. not quite the lows. we got down to 1955 on the s&p. but certainly being watched

critically today. nasd nasdaq down almost a percent today. joining us the co-founder of the zillow. founder of the expedia. treat to have you here today. john fort, kayla joining us as well. kayla just a quick comment on the markets. a lot of things in cramer's words are still working like a go pro, and some of the other names. and industrials still continue to be challenged. >> macro data is one thing squarely in focus because you have a manufacturing contraction. you also have the lowest inflation number since the height of the financial crisis. so the worries over this situation on a macro perspective in europe as we head into tomorrow's ecb meeting is front and center. and then of course the jobs number on friday. go pro you mentioned is a company-specific name. stories are still working but when you look at the overall market, the themes are pull back in small cap, pull back in other

growth momentum names where there isn't a specific story by general malaise in the markets global. >> in the word of tech, amazon ceo jeff bezos stilling down in new delhi this morning. talked about alibaba and competition and amazon's future. >> what you make of the alibaba listing and the success that it's seen at least in the listing stage. >> >> the reason we don't -- you know, i don't talk about competitors and in my opinion many companies spend too much time thinking about competitors, worrying about competitors, talking about competitors. when really they should be thinking about their customers, worrying about their customers, and talking about their customers. >> right. >> and so we've done this. we've taken this approach of staying heads down focused on customers, largely ignoring our competitors for 19 years.

and it's worked out well for us so far. i think we'll stick with it. >> you can't forecast what will happen 5, 10, 15 years from now ie b but i'm sure you have a vision. >> my vision is, you know, if you look at the most important thing to me about amazon is that we stay true to our values and principles. and, you know, that starts with customer, putting the customer first, working backwards from the customer. and then willingness to invent, passion for invention, being explorers, being pioneers. continuing to make bets. and the third thing, i don't us to lose sight how good it is for us to be able to and willing to take a long-term point of view. so those are the things, those are like the big ideas of amazon. those are the things that are incombination i think make amazon very unique. and they are deeply embedded in the culture. those are habits at amazon. and for me, you know, i'm always trying to inspect those things

and make sure that is really how we're thinking about euro business -- our business and those continue to be strong. >> do you believe brick and mortar will be dead ten years from now? >> no i don't. i think that will be extroomly unlikely. these are -- brick and mortar stores serve a different purpose from online. so online dos some things brick and mortar could never do and brick and mortar do things online could never do. so these things will co-exist into the far as far as i can see. >> interesting to hear from bezos who we don't see on television a lot, rich. your thoughts? i'm struck. we had jack ma here last week with the alibaba talking about how customers come before anyone else. bezos has been playing that playbook for years. >> i think that works. if you focus on customers first and empower them with information and tools by which

they can do things that they never could do before, it works. and i've built my career actually focussing on empowering consumers with information. power to the people. empower them with information and do what is right for the consumers and you are on the side of the angels. and no matter how proefktive to the rest of the industry they will come around to your way of thinking. >> i thought it was interesting about what he said for competitors. because amazon is known for being paranoid about competition and taking them out when they're small. >> if you read the everything store, the book that came out. ho he brought the guys out there and while they were in the store he announced amazon mom. >> alibaba, down today. still has 70 billion dollars in change in market cap on top of amazon which is five years older company than alibaba. so to be able to have a mammoth

company come out like that and not be focused on the fact that there can be a home grown rival at any moment, i think is a little bit irresponsible. >> jeff and amazon are incredibly focused on competitors. they are incredibly focused on not talking about them publicly. this is part of their shtick. and always been part from the beginning. >> hashet and the authors linger out there. there's been this narrative that amazon is being forced to talk more because they are at risk of being seen as a real bad guy. is that a real danger? >> i think it is. i think they have gotten so large and so important to the economy that they need to think a little bit differently about their communication strategy. they have been very, very closed lipped to date. they don't like to speak publicly. jeff doesn't like to give interviews, as you said. and i think they are beginning to feel a little bit of the pain

with that now as these channel dispute, classic channel disputes break out into the public. >> this interview is happening because he is in indiaen. he's on a mission there. photographed by the times of india leaning out of a very chlorophy colorful truck with a $2 billion check saying this is how much money we are investing in this country. verticals like fashion and medias coming there. but i'm wondering, guy, do you think he's a little ahead of the curve on india, or do you think this is going to pay off maybe not for several years. >> i now is the time f on india. mark zuckerberg is going to be there talking internet og dot korg. and trying to get facebook and whatsapp in the hands of those who can't afford it. there are a number of companies figuring out how to crack this market as the middle class grows and that is a key. >> and media class there is very

aggressive i'm continually approached by indian media that want us to come over there. i think the opportunity is mosten certainly there now. talking about the competition i couldn't help but thinking about the amazon prime video. is there any traction there. is there a build to bundle microsoft allah with the bundle in the nineties. >> netflix with the video streaming has put it in a really good position to continue to be the leader. and i think the insight that reed hastings has to get was we have to get in the integration of netflix ours. and who would have thunk. and i never would have thought we'd have 31 emmy nomination this is year. boggling to the mind and really an impressive crossing of the chasm that net flism engineered. >> and that netflix announcement

is planning a the full featured length movie can with select imax theaters and netflix.com. >> our many of our contracts the exhibitors have to play imax content. but in this case we're not going to do that because there is some sensitivities to the simultaneous release. so as an overture and being good partners with the exhibitor, we are trying to say to them give it a shot. i think some won't because they are threatened. but, you know, let's see if it works. >> let's see if it works. the theaters responding since then. amc, sin max and all crying fall. so one must assume the screens imax committed are in science centers and aquariums. we know that is not the case. there are going to be losers in this. >> we've seen this movie before. it is what consumers probably want. we all wanted to watch episode 2 of house of cards right after

episode one as well in what's now called binge-watching. the industry didn't want that. we thought based on our customer surveys at netflix that was going to work and it's worked out really well. i think netflix things the same thing about simultaneous. >> crouching tiger, hidden dragon. this is exactly the kind of movie i want to see in a theater first. so why limit it that way. gladly watch on netflix later. >> i'm sure netflix would be very excited to have huge broad distribution of the movie. but you are looking ats the conflict playing out right now and luckily netflix has however many millions of members to distribute to. >> and regal is the one coming out and saying they weren't going to run it. ultimately i thought about this. if the consumers wants to watch it they might go to the theater.

so who ultimately loses, the theater change. netflix doesn't care about incremental double digit from the theoretical release. i think it's crazy the theater cal players are not taking what they can get in this. >> i'm also struck by in your case you had an artist in kevin spacey who also wanted that. >> yes. >> and they seem to have found that now in the weinsteins as well. it doesn't happen unless the creative content flows from the beginning. >> right. and kevin spacey took a big risk and gin ji coen with the orange is the new black took a big risk. that's worked out well for both of them and now the industry is taking note. >> great to have you. when we come back, steve nguyen sounded off on internet gambling. a true story of money power, friendship and betrayal.

and the chairman of yahoo's board mainered webb. later in the hour. yoshi, we're back. yes, sir! ♪ more shipping! more shipping! ♪ [ beeping ] ♪ [ beeping ] whenwork with equity experts who work with regional experts

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take a look at the markets today. nasdaq down nearly a full

percent including a lot of airlines we should mention as some of the ebola scares work their way into the markets. >> it looks like the nasdaq 100 and composites are trending better. but still largery red across the board. some of the names among the biggest lagers in the nasdaq 100 dragging down the entire average. less than ten stocks actually trading higher. among the winners, those are up less than one percent. there are some surges and they are related to ebola drugs. one is teak mere pharmaceuticals. its experimental drug was approved for use in a patient already. there is hope that could be expanded further. also new link has been granted permission by the fda to begin

clinical trials of its ebola vaccine. both of those names trading higher. portola trading higher because of results in a late stage trial with anticlotting medication. that surging more 13 and a half percent today. and shares of ebay was a big talker that they are spinning off paypal into separately publicly traded company. the name though getting two downgrades from jeffreys and j and p securities among concerns of future valuation of the company. >> we also want to look at shares of angie's list that. surging on a report of the final times the company's hired bankers to explore a possible sale. doesn't mention the bank but even the speculation was enough to lift the name 23%. the company has a market cap of only half a billion dollars. its 52 week high, nearly 23

dollars. so obviously after taking a loss in the second quarter, major restructuring still weighing heavily on the shares. when you think about a business model like angie's list, with local services being ranked, does that have staying power. >> local services is huge. absolutely huge. and yelp is a great bell weather of that. and yelp is actually probably the reason angie's list is putting itself up for sale if the rumor the is true. in my world, the rumor is if it can be free it will be free. a fundamental service of the internet. and if you have two services, one is free, yelp. angie's list decided to charge people for access to reviews for local service providers. i and many people right from the start probably thought that was not a winner and if you look at p and l they way over spent to get scribers.

so that is one of the the only stocks i'm short. >> local is a brutally hard space. i've never been a fan. b. >> it is the last bit of salsa in a jar. so for big companies already saturated like a google and alibaba that has so much capital. they take out angies and get into local services and make it free. and my prediction is that's what happens. >> could yelp or facebook gain anything from buying this company? who could make this a more viable business? >> i think it is the business model that is fundamentally flawed. i think the content is probably okay though i'm not a user. if i'm yelp or google i can't see a great reason to buy it. no. >> i'm a user. and angie's list is really good. and even some of the new stuff they have launched on mobile where you can take a picture of a job you need done around your home and get people to bid on it. it's interesting but yes, growth

wise it is going to be a challenge getting people into it when you are charging up front. people wonder is this worth it. i don't know until i put the money down. they are spending money on the back end but wiping out the value of that money up front. so maybe they -- i wonder why they they just didn't tweak the model sooner. >> it was one of the fundamental founding principles. they were a marketing content and they wanted to charge for content because they believed it was valuable. the big internet companies have all given away their media product. facebook, twitter. you could even call amazon, we are now 18 years into the amazon experiment. they basically give that away. and they are trying to grab market share. >> one last question here as angie's list considers valuation. on a month in a quarter where we heard from bill gurley at benchmark and andreesen on cash burns and rent too hot. valuations essentially being too

rich. is that the prevailing view? >> well yeah and guys i respect a lot are beginning to sound a little bit of an alarm. especially in the late stage private market where we see just gigantic multibillion financings done. there is a lot of money there and prices are getting higher and higher. and i think that is what bill is saying and what mark are saying. they also see burn rating creeping up at private companies that feel a little like the late 90s to them. >> why do you think not google? i want to press you on that. they have shown they are in interested in the local space. this is a market based business they could make free. why not a fit for google. >> for angie's list? >> yeah. >> you know my guess is that google is such a gigantic audience they have no trouble getting content. and perhaps the network of professional relationships, that

is something that could be valuable. so maybe i answered a little too quickly but i'll bet you that google has a lot more local relationships with small local service providers than even angie's list does. >> people will eventually say maybe angie's list shouldn't have gone public. there is a lot of activity in the ipo box. go daddy, that haven't come off. you have a company glass door, talking about ipo a long time. what is the status of that? >> yes. glass door is doing extremely well. kind of trip adviser for employment so you can what kind of money people make at a job you are considering. and you can find new jobs and you can get ceo approval ratings. this has been -- this is another example of a ugc. positive feedback system like trip adviser. the more reviews you get the more people come. the more people that come the more reviews and so it turns that. works really well at glass door. we are hoping that the business

is going well and we are hoping maybe next year we can get that public. >> rich, great having you. please come back. every day would work by the way. john we'll see you next time. john seen the steinberg. >> by the way we should mention the ceo of zillow on mad money tonight. >> when we come back our exclusive interview with steve wynn, the ceo of wynn resorts why he's not betting on internet gambling, next. know that chasing performance can mean lower returns and fewer choices in retirement. know that proper allocation could help increase returns so you can enjoy that second home sooner.

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[b♪ll rings] time and sales data. split-second stats. ♪ its so close to the options floor, you'll bust your brain-box. all on thinkorswim,

from td ameritrade. internet gambling is not the future. that was steve wynn's take when he sat down with jane for an

exclusive interview in las vegas. >> hey carl. i'm back in l.a. i'm sorry. i need coffee. but steve wynn is not gearing up for internet gaming and he does believe in it. he doesn't think it will be legalized nationally. the house of representatives doesn't have the appetite for it he says and if it did get legalized, well i'll let him tell you. >> if there was a ever a chance every one of the states that have a lottery are crying and starve forwad for revenue and t state will hijack that business. it won't be a private enterprise thing. and finally like sheldon addalson, i believe something will go wrong with kids underage gambling. we don't allow that here and we are held to strict accountability. but on the internet such control is not possible.

they'll give you a story about the protections built in but it is not possible to ensure children don't play. and if they use their parent's credit card and there is a scandal, there will be a flood of regulations that will spill over on us where we don't have the problems but we'll be victimized. and kill jobs and kill opportunity and create heartburn for us that we don't need. so i think internet is a bad bet. and i'm not interested in it. and i don't support it. >> tell me what you really think. he also spoke at length at the global gaming expo about plans to build a $1.6 billion luxury hotel and casino in boston unless they repeal gambling next month. i asked about troubles in atlantic city and ohio. he said quote boston season not ohio. lots of college students whose parents will visit.

later on in halftime report steve wynn weighs in on carl icahn's vegas ambitions. and one thing which he showed off, his brand new iphone 6. and he said for those who don't have it, i have compassion on you. >> just tell him to be careful when he sits on it jane. thanks jane. in l.a. >> we're just a couple minutes ahead of the european close. here is simon hobbs. >> we've extended the losses throughout the session. oil and gas operators in the nordic region have fallen during the course of the session. the big news of course is that the members of the european -- members of the governing counsel of the european central bank are gathering in naples. we're not expecting fire works tomorrow morning. but the pressure is mounting on them. today we have data showing euro zone factories are cutting prices by the most in a year.

and as you can see manufacturing growth according to the pmi grinding to a halt. and at germany below 50 arguably contracting slightly. meant that germany today was able to auction ten year notes below a yield of 1%. this is a 20 year chart of where we've been on the ten year in germany. down 4 and a half%. who would have thought wet get this low. the other big thing in three weeks time is the asset quality review. the stress test on the banks from the ecb. today it would appear according to reuters they have announced to loosen up the rule so they will allowed after the cutoff point. it's technical but important for the stocks. the airlines have fallen i assume because of what's happening here with the ebola

fierce. these international airlines and obviously could get hit if there is concern about broader travel. and within the united kingdom still a huge problem with the big grocers the shuper market changes. and the brutal price cutting war. the third largest giant has said it will not return to growth this year and the second quarter sales looked dismal. back to you. >> we'll see what tomorrow brings. when we return take a look at twitter shares today. down about 3% this morning in what is a tough market day. mick milton wrote "hatching kwir twitter". and they will join us next on squawk alley.

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. and you'll see just how much it has to offer, especially if you're thinking of moving an old 401(k) to a fidelity ira. it gives you a wide range of investment options... and the free help you need to make sure your investments fit your goals -- and what you're really investing for. tap into the full power of your fidelity green line. call today and we'll make it easy to move that old 401(k) to a fidelity rollover ira.

new cfo, new e-commerce tools and of course the accusations that perhaps too much pot smoking going on over twitter. just. so of the recent head lines surrounding them since nick bilton first released "hatching twitter." nick, good to have you. >> thanks. appreciate it. >> we mentioned had mile stones, the new cfo raising cash. what kind of grade you would give them in their first year? >> are we talking about the weed first or the money? which is the --

>> by all means the weed. because that head line only ran at the top of our page for two days. >> it was pretty funny. think it was clearly he was trying to sell books but there is a chapter about snoop dogg going to the office and getting everyone high. it's been interesting my book came out a day before the ipo. and i came on the cbc and made a gentlemen's men saying the stock would go occupy and the ore gentlemen said it would go down. and i seems to have done pretty well all things considering. >> do you think the old things are the thing of the past. >> we look at twitter in parallel to facebook and they are two very different companies. it is almost like the people that are on twitter are the ones that are kind of shaping the conversation. it is always used for breaking news. it is the first place people go for that. the place politicians go.

you saw last week the ceo of twitter having a conversation with the president of iran about people being able to use twitter there. and those kind of conversations don't take place on other social networks. and what wall street has to understand is it it may never be a 1.3 billion user company but always going to be a company that has incredible power in the way people talk about the media and everything we do today. >> given how similar some of the product offerings of facebook and twitter. e-commerce and rich media, low do you see the interfaces happening? do you think it will ever go mainstream. >> depends what you consider mainstream. if you asked me five years ago that an internet company with 250 billion users was a mainstream company? you would say yeah.

then compare wit the facebook with 1.3 billion users then here's the question. when news breaks, where the you go? you don't goat to facebook. you go to twitter. and that is the power of the 140 character limit on the network. this is the place where you can see constant streams of information. whereas facebook is a laid back experience, more of a communication tool to that to your grandmother and things like that. two completely different companies in my eyes. >> my key question is about management and their ability to pull together and pivot when necessary. facebook had to do it with mobile. there are questions about twitter and engagement here but as you documented in your book it's kind of been a little crazy over there when it comes to management and clarity over whose in charge, whose in, whose out? are they past that stage now. >> you know i think they are final are. the story of my book is literally the founders kicked each other out one by one. some became billionaires.

some ended up with nothing. it's dramatic and sad tale. still after the book came out there was still turmoil within the company. the cfo and then the coo, he ended up laefing because he wanted a higher role. there was a lot of tension. but i feel like over the past few months dick costello has taken t taken the reigns. and said this is my kpen. let me take it in the direction i want. and i think that is what we're seeing now. new advertising products that come where you can buy things within tweets. and lots of the experimentation as far as revenue. >> it's a story of a company that will eventually get dressed up for sale. do you believe that conversation? >> i do still hear that. there is always the rumors that google would like to buy it. and i'm microsoft would pick it up in a heart beat. but it is still a company that is growing and making money. and as long as that continues to

happen, i think that they are not going sell. one of the biggest challenges twitter has is in my belief that it's become an overall place for snarf. a lot of mean things happening. called the twitter mob when they go after someone for something. and you can't get mainstream users on a network like that unless you can solve that problem. and i think that is their biggest challenge to actually grow the user base so the figure how to make it a more friendly place. >> easier said than done. when we come back, the chairman of yahoo, the former ceo of ebay. maynard webb. and he has a chance to change your career. first. >> a lot of big dow moves. an old adage. you get the biggest volume

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we want to update you on a story we reported earlier. on monday we had a story on the las vegas start-up scene and in particular a downtown project. a construction project in a start-up incubator led by the ceo of zap pos. in the last 24 hours, recode has laid off about 20 percent of its workforce. and also reporting the recode is bleeding money. the question earlier in the week

was can you make a start-up out of las vegas. where it work for at least zappos that appears that now is not the right time. >> these things are hard. you need so many different institutions to make this work. from education to venture capital to big companies that demonstrate success and sort of spinoff people who can help maintain the eco system when there is a shock. >> all likelihood shea will probably be spending more time on that relocation of the downtown area. we'll see and bring you the latest when we have it. >> the cme and rick santelli. >> i don't know if they are talking about it over in new york. but here that fat finger in japan was on everybody's water cooler top list of conversations this morning. i'll just read you something that will suffice from afp yahoo news. says it all. over the counter orders were placed for shares in 42

companies where dozens of trillions of yen, hundreds of billions of dollar in the morning but were later canceled said the official japan securities dollars association. this trading floor doesn't have as many bodys on it as it used to. but sometimes organic creatures like humans really figure prominently because a lot of these things aren't going to happen at least in the venues of the trading pits. another thing today that's big is an ipo. and i don't watch that as closely as the interest rate market. but vivent solar second to solar city. and that's elan musk's experimental brain child. but my topic is he asked a price $16, low end of the expectations. it's really a o story about subsidies. coal, oil, gas, solar wind. it's a bad idea. think sugar markets. it is a bad idea.

subsidies whether they come from the federal reserve or any world central bank or our government current administration, they don't work. we don't need a private equity type government just like we don't need a hedge fund type federal reserve. last topic. the chart on the screen. this is going back to about the mid part of may. something big is happening technically. now you looked that the chart? all right. go to my white board. this is my rendition of the chart you just saw. and the big deal is the violation of 245. because anybody who's listened all of santelli exchanges that we've been doing over the months talked about how it was a significant bottom on may 28th. a significant bottom on the 17th of july it. touched from the other direction in second week in august. and -- and, once you climb through it on the 4th of september and betalked about this. it was a home run trade. now on our very first test and it is sliding through like a lot flief through butter.

close under 245 look for the trading community to be on the buy side for tens. kayla it's all your. >> over in chicago, rick santelli. >> when we come back yahoo's chairman of the board maynard webb and an exclusive interview on the company's new workplace venture. whenwork with equity experts who work with regional experts who work with portfolio management experts that's when expertise happens. mfs.

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meg, good morning once again. >> good morning. we are just getting word there is concern spreading about ebola clearly. and an interesting development. bright horizons family solutions a provider of child care services sent a letter to families about travel of the effected region in west africa. saying if a child you or a close family member or close household contact has traveled to the effected area their asking children to be stay out of school for 21 days. that is the longest incubation period for ebola. just an example of the concern growing on if day after the first u.s. case of ebola has been confirmed here in dallas. back to you guys. >> thanks for that update, meg. caution is the name of the game at this point. we appreciate it.

meanwhile looking to give your career a boost. two tech industry veterans, yahoo chairman maynard webb and former cisco executive mike burg palson are helping they can helped. they team wud a company called ever wise. p lining up customers like ebay and walmart to use their cloud based services. they are here with us exclusive apost nine this morning. welcome. >> good to be here. this is a cloud based mentoring service. what niche does this fill and why do companies need this. >> companies love to develop their people. one of the biggest challenges companies have is helping people develop themselves and really do the most they can with their career. one of the easy answers is training but we don't get as much out as we can. so we help them find mentors youinyo using newest software techniques and data science. >> walmart, oracle, sales force,

all recognizable companies have used this service but why isn't leadership just matching their employees in house? why do you need a cloud based service? >> i can tell you why. most employees stay less time in a company than ever before and a lot of companies don't last as long. and when i grew up, ibm did a great job of mentoring and companies don't as good a job anymore. and so i think everybody has to be the ceo of their own destiny. and we created this to help people get the kind of career help and coaching they need. >> go big picture for us, if you can. you have been involved of course in live ops, which is bringing cloud to customer service. this reminds m s me of that in ways. where is technology appropriate, where is it helpful in helping connect, and where can it go wrong? >> i think technology is fabulous and can be use fard lot

of things. i also believe there is that people component here that is necessary. because a lot oaf companies can use software. but if they don't use the process and people correctly, everything goes south. and it degrades. and so i think what is nice about everwise is we have technology and methodology and guide people through the process so that it actually ends up with very successful, happy proteges. >> now the question is, mike, you don't need a mentor. you need a sponsor. you need someone inside the company willing to put you up for that promotion or recommend you for the big job or presentation. how can you guarantee a cloud based matching service is going to provide such results? and isn't sponsorship more valuable. >> you don't need a sponsor and not a mentor. what we are finding is you need both. and we are applying many of the techniques we learned in online dating and using many of the

same approaches that some of the most famous online dating sites have used to explode myths around mentoring. people talk about chemistry. i can't have a myth without chemistry. we found that is not true. by connecting people over video resources we are finding 94% of the people in the program have an awesome experience being matched with a mentor. >> e-harmony meets mentoring. >> we are leveraging a lot of the approaches. >> and you've written about innovation and our heads are still spinning over what alibaba has built. >> absolutely. >> is that because the cost of learning has come down. >> i think technology has let people -- that is one of the reasons. but i also think technology has enabled things and the cloudy has enableden companies to be created much more cheaply and quickly than ever before. and people want to live where they want to live. i would also say, you know,

silicon valley is the epicenter of innovation. but it's easier today to create a company anywhere in the world. >> you have had a ton of experience in silicon valley at ebay and yahoo. you have seen these companies grow. activists right now a attacking a number of companies in the valley. what is your feeling about the balance of power and the role that activists are playing right now? >> john, that is fabulous question. but as the chairman of yahoo, where he have a strict board policy on what we can comment on and anything to do with yahoo, i can't comment on. you know, i have a lot of thoughts on it. but just it is not appropriate for me to say anything. >> i'm sure you have a lot of thoughts on it maynard. but of course it is our job to press the question. >> i appreciate that. >> when you think about the presence of an alibaba. it's created value for so many companies. do you think that as a board member of yahoo that you are

committed to prioritizing, making sure alibaba creates the most value for yahoo shareholders at this point. >> yeah. i'm sorry but i obviously can't comment on anything to do with alibaba or yahoo. >> it's funny. we had -- he sad right here. i said you could double down on your alibaba exposure, just yahoo. and he said almost the exact same thing. can't talk about it. >> it is not that anybody is trying to be mean. it is just inappropriate. >> right. a final note on everwise. you launched a year ago. at what point do you think the model will bear fruit and real relationship building. >> we are already finding that the model is bearing fruit. people have come, they are getting promotions, they are standing on stage when they receive rewards thanking their mentors. so vast majority, nine out of ten would immediately like to continue with the program. mentoring one of the most

effective development techniques and we're proud to be able to offer it. >> the reason we created is because i had so many people in companies i manage get deer in the headlights. the employees always wanted somebody to help them on career development. and we could do lame things like send them to a training program. and we created this so we had an answer for managers to say, here. lest get you a coach. let's get you some help. that is just dedicated to you. >> beappreciate you joining us this morning. representing everwise. thanks. >> we're down to 170 on the dough. s&p 1958. we'll talk more when we come back. know that chasing performance can mean lower returns

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want to share with you the rapid update on gdp. causing to be lowered by the tenth. who's where. deustche bank at the top. goldman sachs at three to one.

ba barclays at 3%. >> and it may be about a bunch of other things. i'm stuck by how many of the travel stocks are down. not just the travel airlines by marriott, hilton, expedia on the bet that people may not be traveling as much in the future here. we'll see. >> welcome to the halftime show. and let's meet the starting lineup. joe terranova. john najarian. and make murphy. and also for the full hour, rob sechen. ubs private wealth and a baron's top adviser. we begin with a key question, is the s&p in the process of peeking? or will the recent volatility runs its course and lead to more gains in the months ahead. >> is there a reason to be