a.m. at yahoo head kwaers in sunnyvale, california. 11:00 a.m. here on wall street and "squawk alley" is live. welcome to "squawk alley." bill gurley joins us. benchmark capital investor and companies. bill, great to have you back. with us as always jon fortt, kayka kay kayla. the company's well positioned

for 2015. here is mayer on the call last night. >> we've built a truly excellent team up to the task that. team our board and i will will continue to be careful -- we've achieved many more man than people realize. delivered significant shareholder value. >> yahoo seeing a lot of upgrades today. some price targets with the five as people look for yahoo to build tax efficient ways to unload assets. bill we have a lot to talk with you about. i wonder if you wouldn't mind obliging us on yahoo and walking us through huh you see the state your name around. >> a lot of people in silicon valley are huge fans of marissa and rooting for her. now that alibaba has passed i think expectations were fairly low. and to the extent she can get momentum and get better products

it there, i think there is more upside than downside. >> if you are talking to your entrepreneurs and they are looking at possibilities of companies that might want to take them out, given what marissa said last night about their mobile growth, does that change the perception or the conversation at all? why would someone want to go with a yahoo versus a google or facebook. >> i think a lot of entrepreneurs care about when they are going to turn over their baby who they are just entrusting it too. and if you look at yahoo from three or four years ago there were a lot of question marks about whether that was someone they really wanted to hand over the keys to. i think marissa may have changed the culture enough to where she's going to have the ability like shi did with the tumblr to get them excited about being part of her platform. >> bill, this week ad week had a story about tumblr 16 months into yahoo's stewardship

basically says marissa did what she said and largely left it alo alone. and didn't make it uncool. we don't have that many data points for yahoo and big deal. and now they have 6 and a half billion dollars and i'm wondering about what they would buy and how they would handle. >> it depends on the perspective. obviously as the venture capitalist there might be excitement about bringing that large a war chest to the table. i think as you heard earlier from your guests from an investor point of view they want to make sure they are being discerning. because when you look at what facebook is willing to pay or google is willing to pay the price points are high on any competitive offering. >> what do we make of the core business then? can this really be become a doughnut of a story where it's about tax efficiencies, even if you have less hope about the core business becoming what it once was? >> the good news i don't think they are competing -- i don't

think google is spending a lot of time thinking google news. they are focused on android and amazon. so they don't have heated competition from the other silicon valley companies. they do need to innovate and invest more in mobile. they need to bring their customers to the next level. and we'll see if marissa can do that. >> you talked, bill, about -- i guess we're going to talk about that a little next. but to segue into that, you talked about risk a bit when you talked to the media a couple weeks ago. and i'm wondering, given this macroeconomic environment, given the movement that we've seen in the markets, do you see any shift in valuation in entrepreneur expectations out there in the valley? or are things still gung ho. >> well i a little bit. but i want to clarify one point. when i spoke a few weeks back i was talking about risk. and i didn't say a word about valuation.

and i think people confuse the two things and suggested i was calling valuations too high. i don't see radically insane valuations. what i do see out here is an abundance of capital which has really been kind of a four year trend. and as you cram almost unnecessary levels of capital into these private companies it creates, you know, kind of perverse behavior. >> ear is the quote, bill. i think silicon valley as a whole or the venture capital community or start-up community is taking on excessive risk right now. unprecedented since '99. you're not backtracking on any of that. >> not at all. once again, for the past four or five years we've seen just unprecedented amount of capital come into the late stage private market. and these companies that are private are raising rounds that are historic ipo rounds. and because there is no capital intensity, we're not buying stores, we're not building factories. when you take that amount of capital and tray to put it to

use, the only way to do it is to increase your burn rate. the problem is that this growth at all costs mentality causes almost a subsidization of survival. it's much easier to execute unprofitably than profitably. if i say grow a company to $100 million. and one company is told to be profitable and the other is told they can lose $30 million. it's easier do the latter. so we end up with more companies at higher revenue where the business model may still be open to question. and that leads to the risk i was talking about. >> does that lead to the number of companies that have a billion dollar plus evaluation that have so far not gone public because that pressure is there to be profitable. >> i think the public markets are being more discerning than the late stage private markets in terms of trying to figure out whether a company has a

potential long-term business model and the ability to generate profitability over long-term. so i think having that conversation a couple weeks ago has had two positive impacts. one, i'm starting to hear more and more people tell me hey at board meetings we're talking about this. we're thinking about this, we're going to be smarter going forward. and secondarily you are seeing discernment in the public markets. in the same week two go public and two delay because of market conditions. >> bill, every day in the public market we have a repricing of assets in companies which is helpful but also provides short-termism. but you tack about the risk on the private side coming from late stage money. but now the late staining money is coming from players who manage mutual funds and 401(k)s and retirement assets and just because those companies aren't public if you see fallout for the new players in the space that maybe we haven't seen. >> well some wonder why i would

even bring this up. my interest are in having a very healthy market over the long-term. if silicon valley brings wall street companies that are of increasingly lower quality. eventually wall street is going to say as it did in '01, stop, that's lunacy. so i think it is a responsibility to make sure the stuff we bring to wall street is of the highest quality. and i think that will give us the longest possible positive healthy marketplace. so that is -- you know, i get concerned when i start to see sloppy behavior because i think that is the kind of thing that could lead to a tipping point and a very long-term correction. >> right. but just because these companies are taking longer to go public, which is often pointed to as the reason why this isn't going to be like the fallout we saw in 1999. there are still players holding assets on behalf of every day consumers that have exposure to some of this.

>> look it's hard to know what's cause and effect, right? are they delaying going public because they want and therefore they go raise lots of private money in the later stage market? or is it because there is excessive amounts of money available in the late stage market that they don't have to think about going public? i think it is the latter not the farmer. >> here is my big question, as far as fallout. in the dotcom we overspending on real state and real estate. and e hear about it again. facebook as for app download. what else are some companies overspending on that we might see collapse if the air comes out? >> real estate is a great one. real estate prices out here have been going straight up and to the right. i think you are pointing out others. where do you see venture capital dollars becoming revenue dollars

basically. and that happens in the mobile ad market for sure on app download type things. you know, certain technology companies, enterprise companies, you can look at their portfolio of customers and say, you know, are these the s&p 500 or are these the silicon valley 100. >> is that cloud stuff that some companies are overspending on perhaps? >> i think different sberpenter companies are focused more on the industrial, traditional, you know, enterprise companies and some of them have a customer set that is much more centric out here. >> finally bill. it is like a hall of fame the things you were early in on. would you arc before we let you go that you are seeing fewer attractive ideas or taking a pass more often than you did two or three years ago. >> i think there is always a tendency to naturally slow down. when things look easy in silicon

valley you tend to attract short-term minded entrepreneurs. so you might see deal flow increase but quality goes down. you know when you have got a really true entrepreneur when someone wants to start a company not when it looks easy but when it looks december latsolatdesol. the people that started in '01 those are the true entrepreneurs. >> we hope you will come back. danny says helloably the way. >> i love danny. let's get a check on the markets which have been largely flat. earnings taking center stage. we have a mixed picture. tech seeing weakness. but industrials well and that is why the dow is up about a tenth of a percent. s&p about a third. nasdaq into the green as well. shares of dow chemical also a nice gain. the company was helped by higher

sales in plastics and performance materials and shares of stanley black and decker, this industrial rally continuing for that company too. third quarter profit beating expectations. the company also reporting record profits in some consumer businesses. >> still to come the new ipad is better but is it better enough? that is the head line of the review of the new ipad air 2. and is twitter there for app developers? and he has about a million followers on instagram and they named a filter after him. we'll talk to cole rise about the next big thing in pictures and video a little later on. they're still after me. get to the terminal across town. are all the green lights you? no. it's called grid iq. the 4:51 is leaving at 4:51. ♪

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a developing story out of canada. >> that is what we know now. according to multiple reports here a gunmen opened fire at a uniformed soldier in canada, wounding him in a shooting that took place neuar the canadian national war memorial. a short distance from parliament. various military and police converging on the area where the parliament building is in ottawa, canada. just across from the canadian national war memorial. the gunman is believed to have been entered the parliament building and shot and killed by

security forces. there are conflicting reports about the fate whether or not he was shot and/or shot and did in the situation. so we're still wait for developments. a man believed to be the gunmen was being seen removed from the build oong gurney. neither the military or the canadian services would comment. but we know this comes on the heels, just two days of a suspected isis inspired man ran down two soldiers in montreal earlier this week on monday. one of those subsequently died from the effects of accident. but right now as you can see moments ago various police and military converging on the area near the canadian parliament. very much a developing story but right now that is what we know for right now. we will bring you any more details for a story that's got an lot of attention right now.

so carl we'll bring in more details also they become available to us here. >> dom, thank you for that. naemt check on the markets which are largely ignored the story out of canada for the moment. the dow travels 800 to the upside. over five days. 30 points positive today. the s&p cracking through 1937. and all the sectors are in the green and the utility average hit all time highs early this morning. apple's new ipads are in most respects the best ever made. so why he walt that excited about them? let's talk to him. >> good to talk to you carl. >> you make the point. you love tablet, in fact you love the ipad. you are just not excited about this one. why not? >> i just don't think it is enough of a leap or an improvement over the ipad air, which is a big change last year. and therefore, it is not going -- i don't recommend the

people who bought last year should buy again this year. i think for people with older ipads or no ipads this is a perfectly great example of the ipad. i'm just a little disappointed that apple didn't go further, do additional things, like for instance maybe a snap on keyboard like microsoft has done with the surface. or you could imagine software that would let you run two apps at once. there is a number of things you could imagine. so what they did really here was to make it thinner and to make it more powerful and faster and to improve the screen, reflectivity somewhat. and there are a few other things. i don't want to understate it. they did a bunch of under the hood things but they didn't do a fundamental, you know, grabber kind of change to the tablet. >> and the multi app

functionality is something we've been hearing a lot about. you seem most disappointed i would argue in battery life. >> right. thanks for reminding me. here is the irony. i'm disappointed even though they beat they are claim. their claim is 10 hours. it's been 10 hours for years. in my test, which is i think a more strenuous than most. it did 10.5 hours. so they beat the claim. but last year's ipad air went over 12 hours. so they actually regressed because it has a smaller battery because they made it thinner. and thinner is great. i love thinner. but there are tradeoffs. >> what a i'm thinking is that the biggest opportunity for apple right now is upgrades, from the install base. so many people who've bought ipad who is haven't bought a new ipad.

this has touch id. despite the fact that those of us who have airs might not need the air two. is this enough for apple to have a strong cycle? >> i specifically said in the column, that if you have a kind of 2012 or earlier ipad, this would be a terrific upgrade. but there is a catch. i also think the ipad air from last year which is now $100 less, starting at 399, is also a terrific upgrade. maybe apple doesn't care whether they buy an air or air 2 and it doesn't matter to them. but from a purely consumer point of view, i think if you own let's say an ipad 2 or 3 and you went to the ipad air and didn't go to the new one you would feel

fantastic. you will see a tremendous improvement. and so the answer is yes, but. >> yes. finally walt, one thing separate the ipad. we've an hbo, cbs, lions's gate rolling out over the top products it's been written today that might open doors for apple tv. i wonder if you agree. >> absolutely. i really think this is what a lot of us have been expecting for years. i can remember talking to hbo executives about why they don't do a purely web product. i think it is kind of -- it is small steps. but i think a bunch of them have now announced, as you said. and they can throw all these things on apple tv. and i'm sure they will as much as -- as much as they can make the business deals work.

and it may accelerate apple's tv project but that is all showed in secrecy. and all i know is that i think about what eats holding up are the media business deals. exactly what the media business problem is i don't know. maybe this signals that some of that roadblock may go away. >> that is going to be a fun game to watch. walt thanks again. talk to you soon. >> take care. >> of recode. >> up next. or speculation in europe and simon hobbs will be here to walk us through all of it. a growing crowds of serious investors the turning to a new breed of crowd funding where high risk investments can earn big returns and the right business plan is earn millions. on the "cash crowd" posted by simon hobbs. "squawk alley" will be back in a moment

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target is trying to put last year's massive security breech behind it, instead choosing to focus this season on a brand new strategy. and doing so very early in the game. courtney reagan is back at hq with the details. >> target certainly does want to put last holiday season very far in the past. and its new ceo is his first holiday season. so he has a lot he wants to prove and tells me he's focused on offering great products experience. and getting rid of the $45 threshold for free shipping starting today. and also more than 65,000 items available for order online and pick up within store and most those could be filled within an hour. and continues to leverage to get shoppers items faster. saying up to 90% of the country

could have next day delivery on this model. target is working to deliver its best rate value. and a recent survey found target's prices higher than competitors. at least in massachusetts. the big box retailer is again extending price match beyond the normal seven daytime frame through the christmas season. forging a digital connection is also a key focus. wish list for kids and target apps. shopping list and apple pay for the iphone. and the target's cart wheel. 50% off a toy that changes each day. and i was worried about that but 10 million users have signed up. so it's an integral part of the target's strategy. and the target is partnering with a new york city boutique

called "story" to create gifts for target. literally to tell a story. they haven't --. now target has put its overall holiday strategy out there. it may be a game of one upmanship. we'll see what happens hoo frommer hoo. >> courtney reagan. do want to draw your attention to apple by the way which just crossed 103.75. this got down to 95 and change during the last week. but apparently all the lukewarm ipad 2 reviews not having too much effect. i think goldman upped their target too. >> that will help. we're look at europe as well. simon hobbs, and nearing the european close. >> european equities advanced further into positive territory through the session. i guess the big news today was the leak we had out of spain from a news agency reporting,

and don't forget a 130 bank stress test comes sunday but 1 banks in six countries have failed. let's have a look at the bottom of the market and see which are in negative territory. greek bank, portuguese, and austrian. and bear in mind, i have no idea which ones have failed but these are the guys on the bottom of the pack on the price action. the greek ten year also risen above 7%. the big news for most this week continues to be a apparent like from some of the ecb to reuters that possibly the ecb could buy corporate debt. the biggest effect has meant it further means the european are winning the currency war against this country. the strength of the euro against the dollars heading back down.

we'll see if the feds -- fomc can change that around with the commentary next week when they will presumably try to weaken the dollar and raise the currencies higher. everyone trying to exploit deflation. glaxosmithkline did okay. heineken had a problem with a warm summer. and in the u.k., the price war continues. in fact walmart is winning the price war to a certain extent on the data we got out today. and they just keep tracking into negative territory. tesco. they have had profit warnings and tomorrow further profit data. back to you. >> simon hobbs. when we come back it appears twitter is listening to former microsoft ceo steve ballmer.

>> developers developers. developers. developers. developers. >> twitter expected to announce new steps to bring app developers back to the social network. we have details and the man behind instagram's best known filters talks the future of pictures and video and mobile. cole rise with us later. "squawk alley" back in a minute. ameriprise asked people a simple question: in retirement, will you have enough money to live life on your terms? i sure hope so. with healthcare costs, who knows. umm... everyone has retirement questions. so ameriprise created the exclusive confident retirement approach. now you and your ameripise advisor.... can get the real answers you need. start building your confident retirement today. (vo)solver of the slice.pro.

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twitter is hosting its first ever flight mobile developer conference today in san francisco. our julia borstin is there with a look at what we can expect from the social network. >> today we expect twitter to unveil a sweet of tools to thousands of developers around the world. the platform which sources tell me will be called fabric will be free and designed to make it easier for developers to integrate when they build products. we expect fabric to help developers deal with bugs by integrating tools from crash lytics which twitter bought earlier last year. twitter kit will help syndicate into apps and digits could help

with easier log in. this will all be free. down the line twitter could theoretically charge for premium versions. but it should translate to higher revenue. today's conference is also about reputation repair. twitter alienated many developers in august 2012 when it enforced strict requirements for third party apps putting developers on edge. instead twitter is trying to show developers how it can grow their businesses. day stake at 1:00 p.m. eastern. we'll be listening very carefully for what he brings up on stage with him. and twitters earnings are coming up monday. kay kayla. >> thanks julia. stick with twitter and bring in ni nick bilton. gad to see you this morning.

>> good to see you. >> twitter is attempting to reset relationships with developers. too late? or do you think better than late than never? >> too late for some. it was a platform built by its developers. when it was first started the website kept crashing and the only thing existing was the api which developers used to build apps. there was at one point i they million apps and then they decided we don't want this anymore and cutoff a lot of them. and today most of those apps and those developers don't exist. so what they are trying to do is say hey we can increase revenues if we go and build more apps on the service. let's see if we can entice developers to come back. >> seems there is also a fear that some of these developers were building products that would threaten twitter's existence. do you think that fear is dwoen from that side? >> i don't think if it's gone. one of the problems, so if you have -- if twitter has a service

on its platform, where you can share photos, when you do that, twitter can then put an advertisement next to that photo. so it increases their revenues. if their apis are allowing people to share elsewhere like twit pick and other websites they don't get any of that money. so i think what they are going to struggling is is trying to allow people to build things that don't alienate the advertises but also draw more users to the website which is what twitter has had trouble with. >> is this a myspace moment for twitter? they famously cutoff developers, at a inopportune time. or is it a facebook moment where --. >> i think that it could be either or. it cube moment where myspace really hurt itself by cutting off developers. facebook has not.

they are 1.3 billion users and they have been just as mean to developers as everyone else. i think whether this really shows, unlike facebook, if you look at their ad revenue, 13% of the company's ad revenues in the u.s. comes from mobile. on twitter it is 3%. when you look at the mobile ad revenue globally. and i think what is about to happen is there is a fight for who can get more of this ad revenue. if you look at the user numbers, they don't even compare. twitter has 40 million mobile users in the united states. worldwide facebook has 800 million. so i don't know we can compare them in that respect but think i this is a moment that will define how they grow in the future. >> speaking of being kind to developers in facebook's case you write tomorrow about facebook's efforts to get all of us to be kind tore each other on facebook. they have someone in dharnl of that now. >> they have a gentlemen who

runs the empathy team and what the jock of that man is to do is to teach people how to be emp thet i online. there is a point that came out that found that with teens as many as 95% of teens have seen someone be harassed or bullied on line. and 60% have been bullied themselves. and i think this is a turning point. i truly believe it is going to be the thing that defines if these exist in the future and facebook understands that and built these tools to try to fix that. >> the last time you were on you said the trolls were actually twitters biggest problem. so perhaps the this as broader move afoot in social media. we'll look for your column soon? >> thank you. >> mark cuban when we come back. speaksing on netflix and the future of television. and also ibm. and rick santelli, what are you watching today? >> we have to continue to talk about europe. there is no kout doubt that the conversation regarding ecb and

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the billion dollar herbal life is back. and declining sales, falling profits and now a downgrade to sell. we'll debate if there is a bull case still for coca-cola. in case you missed it mark cuban joined squawk box this morning and had interesting things to say about netflix. listen. >> it is a disruptive company. when you talk about media and the future of television, when youp talk about the over the top, talk about content. the one company that always comes up is netflix. and when you look at what they are doing, very little content is being created in the united states, and i think it is going to extend internationally, without someone talking to netflix to see if they are interested in investing in that content first or distributing in that cob tent. >> never once to mince words. the paradigm netflix was se

setting with -- -- on the stock but nonetheless from an investor as influential as mark cuban, interesting to hear. >> stock hasn't quite recovered the losses from last week. cuban also said ibm, no long aerotech company, that it specializes in financial engineering and the worth performing of the month down 14%. cme and rick santelli. >> good morning carl. when it comes to europe and the ecb there is a lot of commonality with issues not necessarily on the same timeline or the same remedy time line with the u.s. and japan. maybe some extent china. but it boils down to the following. first stabilize, stimulate, reform. that really is, if we really want to break it down that is what it's about. and i personally when i asked

our guest this morning, peter boockvarr, what's changed? he talked about the notion of more stimulus by the u.s. and i think there is obviously a lot of reasons and that is a valid one. another reason i think is mario draghi's company comments right after la guard's comments regarding global growth. what did he say? he said that he's enabler. that politicians were not doing this after he did this. and that i read, reading between the lines, is that he's not going necessarily a play the game the same the next round. but here is the point. we all understand what stabilization means. although maybe in this era it means more about stock price levels. we all understand what stimulus is. whether it's low interest rates or a combination of that with purchase programs called quantitative easing. but here is the word that nobody seems to pay enough attention

to. because when you re-form something, you are basically admitting one thing for sure. that whatever the status quo is, it isn't good enough. and you need to change it to something else. and here is with where all central bankers in my opinion are missing the boat. because in order to do the proper type of reforms to to europe, germany and everybody else on the same page that reform is going to cause less growth. as simple as that. so let's really do the math here. if we stabilize and stimulate and then we look to do all this in a package of reform t lower growth is going to bring a passenger. and the passenger is dis- or deflation. that is the passenger. to do it right, the u.s., japan, china, that to reform you are

going to be willing to take less growth. otherwise you have to reset that bone again and again and again. so when you hear they need to do more of this and not this because of things like us a sterty and inflation what they are really doing is preventing the healing process that is going to occur whether day like it and it's voluntary or not. just my opinion. back to you. >> thanks as always. rick santelli in chicago. coming up a closer look at the future of pictures in mobile from the man behind instagram's pictures and filters. up next on "squawk alley." financial noise financial noise financial noise

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here is the former instagramer behind hudson, sutro and of course rise. and here the weigh in on the lates latest. cole rise. great to have you back. we have a number of things going on since you were last here. namely better phones. better cameras. >> lot better. >> and it sounds like a new interest or accelerated interest in video. >> you are seeing apple push that hard. they had a camcorder message in their latest keynote. saying how it is going to slowly replace that. i think it already has. and with the latest stabilization that's fascinating. when rocky came out that's when we fir saw stabilized video and now we it in our pocket. and comes with a computer that

you can call your grandma on. >> are we going start seeing filters for video? >> there is a big push more that. a huge opportunity for editing video visually and as you would with professional video software. >> the better the filters get, the better the devices get, the more armchair photographers and videographers we are going to end up creating. do you feel like that threatens your industry? you were a professional photographer. >> i went to film school. i studied on the big hd cameras that cost thousands and my my little brother can go out to any place and shoot very stable video and edit very easily. it's amazing. >> apple is trying to push that for the fist time with the higher quality camera here. >> i have one. >> yeah are you going develop for this specifically? >> there is a lot of possibility. the screenite is is huge.

you see these cameras are external lc ds to see your picture better. being larger gives you more room to see it better and experience it in a more clear way. >> instagram or vine? did you see a pepsi/coke fight developing? obviously they are different in size but is more one efficient in terms of distribution. >> i feel instagram is much more cinematic and with the latest app hyper lapse you can take time lapse videos on top on the video that comes interest with the phone. vine has its own format. it's very vine centric. i'm interesting to see where that goes down the line. >> meanwhile go pro. how far away from developers building platforms for gopro. >> well i think they have a

great app. the social sharing is really good through the app. i'm not sure what their apis but as a device it's very easy to get that gopro footen on to instagram or insta vine quickly. >> if you are looking at a tablet like this and trying to figure where it is going to go, what you are going to do with it, are you intrigued by the possibilities behind this camera and this size is what developers might do with this? we've seen explosion in app developers on the phone, photos drive usage on facebook. if we get a new type of photography in mobile and tablets it could open up lots of financial possibilities for companies. >> video is traditionally a slower format. in both creating it and also sharing it. or experiencing it. i still feel like the ease of use now with the ipad is going to allow people that maybe

didn't have film experience to create really emotional videos that you can look back to in 50 years and go wow that's a good experience. >> and finally so much emphasis on the digital philosophy. now tarnt tino and other well known photographers pushing film as an art form that's maybe forgotten. is that going to be a novelty in ten years. >> film as a novelty. i think it is going to hit the vinyl kind of thing. vinyl came back in a really big way. i'm hoping film does. it stopped at about 5% of what the market used to be but it's stable and i think coming back. kodak is using new films they discontinued. i still shoot film every day. >> do you. >> i love it. i have a 35 mm camera. digital is secondary. >> cole, great seeing you. fascinating area changing all the time. please come back. back to dominick chu with an update out of canada. >> this is what we know right

now. first of all we want to get you up to speed in a live interview with msnbc. ottawa police say there are multiple suspects in the morning shootings on or near the parliament hill area of ottawa. there is video of what's happening so far this morning. also cbc, canadian television is saying one suspect shot is killed in the parliament situation developing so far. the police have confirmed that two have been injured in the shooting. also here, nbc news has learned that president barack obama has been briefed on the canadian parliament situation. according to a senior administration official. nbc news also learned that the u.s. embassy in ottawa canada is on lockdown currently. and we are now looking to see what we're seeing in terms of monitoring the situation. there are also some interesting details coming out with regard to the video from the event.

the globe has been showing some video. and right now is a video shot by a journalist from the globe and mail and the sweep of parliament. and what you hear now are gunshots. during the police sweep of parmt is when you are hearing gunshots as police sweep through the parliament building. just so we're clear. we are still developing and closely monitoring the new story and situation. nbc says the u.s. embassy is on lockdown. president barack obama has been briefed on the situation. and police confirmed two have been injured in the shooting. cbc is reporting one suspect shot and killed. so carl we'll bring you more details. but for right now this is what we know and we'll bring you more details as it becomes available. back to you. >> thank you dom. "squawk alley" continues in a moment. act i. scene 3.

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earnings today. yahoo continuing to be one of the best performers. >> a little longer leash for marissa mayer and the overall averages holding up. multiday streaks like we haven't seen for months for many. >> that's it for "squawk alley." let's get to the judge and the halftime. >> carl, thanks so much. welcome to the halftime show. pete najarian, steve weiss. josh brown and mike murphy. we begin with the search for opportunity. and the fact that stocks are coming off their best day of the year. a far cry from a week ago today. the s&p sliding. anxiety raising and investors wondering where their portfolios were going. certainly for at least one