winner. and he did nail the number. right on line. 214. that's a lot better than most economists. they were expecting 233. turn it up and check your twitter feed and we'd love to hear from you as soon as possible. >> more importantly you get that cap. with that over the "squawk alley." >> good weekend, good morning. it is 7:00 a.m. at twitters headquarters in san francisco and 11:00 a.m. here on wall street. "squawk alley" is live.

welcome to "squawk alley," joining us this morning, busy inside er founder, ceo, editor chief henry project. and julia also joinings. a lot going on. first year of twitter as the public company. and the company facing a rising tide of criticism. dick costolo struggles to define vision. some saying i'm just very frustra frustrated. people are losing confidence. calls the company's future an open question. interesting on anniversary that is not the kind of coverage you would want but is it deserved? >> i think the main issue is twitter got over hyped and the company is partially responsible for that. no question. but everybody was positioning it as the next facebook. it is going to be that huge. twitter has always been much

more of a niche product. the home of news addicts and a great way to follow celebrities and that is pretty much a great business. but when we're talking about it having to be facebook, they are hard to deliver. and the other problem is we have language issue, vision change, lots of turnover on the product side. they have to come up with something and stick to it. >> i think that is the real question though. is it twitter just a place for people to talk about stuff? because costolo has changed his tune. a year ago it was the global town square. now it's a place which is a source of content for everyone, for television. he's tried to change the dialogue from how many people use twitter to how many people see tweets. he's also recently launched all sort of tools. >> and there is the decelerating years of growth. margins that are unlike facebook. >> when i look at it i think

twitter is plumbing right now. and they are trying to act like it is an application. it is not an application yet. i'm curious what are they going to build on top of the plumbing for twitter that is easy for people to use and actively and engaging in itself. and they seem to vacillate between talking act the plumbing and between thing it is an application are that's easy for most people to use and it's not. >> are they going appealing enough for to use twitter's plumbing tools rather than someone else. >> is revenue side is working. they are killing it there. >> and stability in management too. >> absolutely. but it doesn't matter how many people saw a tweet. listen to twitter brag about 30 somed ed odd million saw a twee the oscars. it just doesn't matter. and until they can say okay that is a revenue event for us other than just branding. it is irrelevant.

>> we're beyond the stage of throwing things at the wall and seeing if they stick. town hall or indispensable tool for life in the moment. whatever they want to use. the fact of the matter they went public last year. opened t 45.10. currently below $40 a share. people who bought on the market and now down 10% because they believed in the vision. and the tune has changed in a big way. >> by the the way if you weren't around a year ago. here is sound from dick costolo. >> all about users coming to the the platform and engaging in content easily and immediately. while still enabling the architecture can and language developed from the very users who we had on stage today leverage it the way they'd like to. >> he was definitely psyched that day. >> he was.

interesting to see what he says next week. >> he was right. >> and he was right. but twitter has its investment day next week. and i bet they talk about tools for the developers. the growth is going to come from developers using ad tools and integrating twitter advertising into their apps. >> it seems like a cruel irony to think about the conversation on that day how well the ipo went and how seemless the structure of the ipo was compared to facebook. but when you think about one year in, facebook's price doubled from its ipo and twitter's is down. >> and let this be a lesson to everybody on ipos. in fact it just does not matter whether there is a success and you get a pop. what matters is what happens over time. whether the company just deliver skbls well that is not the only thing that matters. >> it is the only thing that matters. >> that pop does matter but it is not the only thing. >> it does matter. >> dick costolo in that clip was

weight but he stated the challenge, not the vision. >> and think didn't deliver. it's not simple for user. and you have to be a geek and figure who that follow. but back to amazon. broken ipo. terrible, all these head lines. facebook a disastrous ipo. awful. a year later nobody cares. and the fact that facebook priced close to demand, they have save sod much money for their investors by doing that. as opposed to just giving ae ii away overnight. >> fair point. disney, results mostly in line with estimates but revenue for the media networks was weaker than expected. shares are lower this morning. julia talked to bob uygur last night. and the name of the next star wars movie h. e addressed his approach to the bundle and delivering content over the top.

>> are will there experimentation? yes. will we be part? it's possible. we're taking a the cautious proesh approach because we think the prudent thing to do is do what we can to maintain the value for what is obviously a value creator for this company and also a lot of other medias in the space. >> warning rivals not to poison the well by doing this too early? sounds like that is what when he's saying. >> exactly. a very different approach from les moonves. these are tools for cord cutters. uygur said i'm not going to do anything to hasten the demise of the bundle. we want to protect it as long as possible. and he thinks there is value and wants insist ma invest in makin valuable rather than himself. >> or is he trying to be himself

the last good friend of the bundle. go ahead unbundle. we have espn and disney. we're just going to be the last good friend and rake in the extra dollars. >> he's doing what he can afford to do. espn is the most valuable cable asset. and disney is locked into that ten year deal. so they are eking out every dollar for as long as they can and in the meantime they are going to give consumers lots of value. and he also pointed out when it comes down we have a great advantage because we have good brands. >> stuff people want to watch. >> parent will pay for a disney channel service. so when it comes to breaking up the bundle they will sew plenty of services but right now he's going to hold off. >> he's doing the right thing for disney. but to me the larger story is for the first time it is becoming clear that dollars are migrating off television to

digital. viewers have already begun to migrate. but it is now indisputable that the money is starting to move and that is going to change things fast. >> the term i've started hearing is that cognitive dissonance. how do executives on one hand try to milk the bundle for what it's worth and on the other hand claim to innovate and build a new product beyond that. seems you can't have both at once and we're seeing a very clear difference between what oo uygur and saying and what moonves is saying and seeming you can't do both. >> one thing is viewers switching is we're seeing advertising weakness. it is not terrible but it is soft. and part is because ad dollars are shifting to digital. they are shifting to mobile video ads and uygur talked about that. saying we know ads are shifting because we are an advertiser and we are also shifting dollars. >> and on the other hand have this enormous film division with enormous franchises and spent

billions getting laughed at over the years and now they are paying off, right? >> totally. and paying off across multiple divisions. frozen, huge success for the studio, home entertainment, and consumer products division. >> how i could this bite him in the butt though, bob uygur? if he waits for too long to do the unbundle? >> he's doing experimentation now. dipping their toe in the water. espn is work with the nba to do an over the top service. they are just not going full over the top. >> we have the president making comments with his cabinet on the jobs number. let's listen. >> steady and strong, digging themselves out of worst economic crisis since the great depression. and what we need now to do is make sure that we build on the momentum. because we recognize that despite the solid growth, despite the drop in unemployment, there is still a lot of folks out there who are anxious about their futures.

who are having trouble making ends meet at the end of the month or saving for their kids college education or being able to make sure that they are able to retire with dignity and respect. and so everything that we do over the next two years is designed and geared towards ensuring that folks who work hard in this country are able to get ahead. obviously we've had a significant midterm election, as i said at the press conference. my attitude has been and will continue to be that good ideas don't necessarily come from just one party and i'm looking forward to seeing the leaders of our democratic and republican caucuses this afternoon to have a chance to share with them both what i think we need to be doing to build on the economic momentum we already have and make it stronger. but i'm also going to be interested in listening to them in terms of areas where we think it is possible to work together.

whether that is putting people back to work through stronger manufacturing here in the united states and selling more to countries around the world. one of the major topics that we're going to be discussing during my asia trip next week, whether it's figuring how we can build on some modest new investments that we've been making in early childhood education. we know that works and there is strong bipartisan support for some of those investments. let's see if we can do more. all those issues are ones in which there is a strong possibility of bipartisan cooperation. as long as we set politics aside for a moment and focus on the people who actually sent it here. in the meantime in these regular meetings i'm have with my cabinet, i've been emphasizing to them from day one, and reiterate in this meeting, the

fact that separate and apart from legislative activity, we have the capacity to continually improve how we deliver services to the american people. and part of what's happened over the course of several decades is that people sometimes feel as if the federal government is distant, that it is not customer friendly, that there is too much bureaucracy. and because of the fine work of many of the members of this cabinet, what we've been able to do is start chipping away at some of the old ways of doing business and start instituting new ways of doing business that improve customer service that make sure people are getting the help they need. this week i had a chance to welcome our -- and have a conversation with our new secretary of veterans affairs, bob mcdonnell, who is coming from the private sector, but also is coming from west point. and an extraordinary legacy of

service in our armed forces. and what we're already seeing is that bob is able to start skinning down the wait times for people in terms of getting points they need. but also building on successes that have been taking place over the last several years. reducing homelessness for example. we've reduced veterans homelessness by 30%. and a lot is not by virtue of new legislation. it's just by us focussing more on these problems and managing them better and continually listening to the american people to see how we can be more helpful. so there are a lot of opportunities for us to do that here today and i think we're going to take an inventory of progress made in various departments and also we're going to focus on the fact that between now and the end of the year there is still immediate work that needs to be done. we have made progress in building the kind of public

health infrastructure we need to deal with any eventualities with respect to ebola. but it is still a concern domestically and most importantly still a concern internationally. >> that is the president meeting the congress. >> the president called this the strongest job growth since the 1990s. proud of the private sector job growth. that is the big chunk of this number we saw this morning. just a small chunk in terms of the government jobs. one of the big frustrations for this white house has you know has been they don't feel they are getting quite enough credit for the strength of the economy now with another month under their belts of 200 plus job growth. unfortunately from their political perspective that traction didn't happen in time for the midterm elections.

>> thanks ameamon javers in washington. we want o check on the markets which are still driven by the jobs report we got a few hours ago. 212,000 jobs created in october. that was lower than expectations. though we did get positive revisions for prior months and healthcare services and a bullish sign for the market overall. nonetheless we touched interday highs for the dow and s&p 500 before sinking into the negative. down just about 8 points right now. s&p just turned positive a moment ago. henry, when you look at the jobs report, where do you think we are in the economy? when you think about how many jobs were taken away during the financial crisis. we've now made them all up and the talk is about where jobs are coming from and what wages are doing. >> we're still making steady

progress. with where we are not is on wage growth. and the issue is still demand. and the reason there is so little demand is that people aren't getting paid enough. our corporations have record profit margins. we want to encourage them to soon start investing those record profits in their people and new projects and that will create a lot more demand throughout the economy. that is the issue right now. >> you are a employer and job creator. are you raising wages. >> we pay out more than our revenue to employees. which is another way of saying we are losing a little bit of money. >> you can afford it. >> yes we can afford it. but more people need to do that. companies exist to make life better for people. including employees. time to share a little more of the value being created with the folks creating it. >> nice selfie with you two on twitter right now. >> i'm very lucky. >> henry and julia. thank you. the new generation of the

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workshop gash are ba welcome back to "squawk alley." last night cnbc celebrating it's 25th anniversary with the cnbc next 25 gala. some of the leaders of the last 25 years and the next 25. including ceos of starbuck's and mastercard, as well as barry diller and martha stewart. here is what diller had to say about the iphone. >> how do you consume media barry. i know you looked at my giant iphone with disgust. >> it's just too big. >> it's not too big.

>> it's not. you are going to be blind. >> it is not too. on the one side it is too small was without a keyboard and all that. and it's too big the put any place. unless you build some little thing to carry it like a silly person. >> i totally did that this week. >> i don't -- i actually want, i think it is the five. i want to go back to my five. but i consume now. i think i'm watching more television than i did at any time since i was at abc as a kid. >> spoiler alert. he says he watches tv on big screens. he is watching more linear tv than ever before. which of course drew applause from the audience. i found most interesting martha stewart talking about her drone

usage. coffee delivered by drone yesterday. >> and that can go wrong a lot of ways as mcdonald's would tell her. hot coffee. home delivery. but she says she's into tech and buys every new device that comes out too. >> diller argued it is not going away. we have this inclination to say things are binary. he says it is probably going to live on but will be a demographic gradation. if you are older you will buy a bundle. if you are younger lying a lot of millennial now. you are not going to. >> interesting debate. and interesting to see many members of the global community there. when we come back. as the private space comes under increasing scrutiny. jane wells is at the kennedy space center. when are you looking at. >> it is almost unprecedented to be live on a launch pad. the most powerful rocket on

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market, dow is positive but the s&p at 2033 is officially up double digits for the year. that is a 10% gain at these levels. in the meantime nasa preparing a launch at cape canaveral. its next generation deep space capsule. jane wells is on the launch pad in florida. good morning jane. >> reporter: that is a delta 4 heavy. and there is so much history here. and in a month more history could be made.

government has spent over $5 billi billion. there are no common elements between that engine last week and the one used i by orion. but later on street signs more. >> we'll watch for more later on today. >> we're nearing 11:30on the east coast. markets on in europe are just about the close. >> another day in europe has fallen whilst the indices are flat overall. and negative for the week.

down about a half percent on the week overall. there are stocks doing well today. oil, gas services have bounced back. and let me show you companies of that reported today. allianz and richemont. since the stress test you have an underperformance of over 4%. partly because of the stress tests and what that showed moving forward. also importantly the situation with draghi. on the one hand yesterday you got that commitment effectively to a trillion euros on the balance sheet. and some say okay maybe we get qe in january. you still didn't get talk on

buying corporate bonds and still don't have the answer to the question as to whether they will buy sovereign debt and have those prices artificially inflated. the greek banks in particular have fallen heavily today. some have been reporting the heat is now on in athens to negotiate some sort of deal within the next four weeks before the euro group meets for greece to exit the bailout, retain a credit line to keep it going but not have such strict enforcement for such a tight leash. and the greek market since the highs in june is down 30%. i keep pointing this out. the yields on the ten year debt, of course we had a fright weeks ago. but we are still generally gaining as you can see. and still traying above 8%. >> speaking of weekend, have a

good one. when we come back, microsoft executive re-sisigned just this week and we'll have his take on companies and microsoft when we come back.

could microsoft unlocking the office suite be a sign of things to come? raul sued is ceo of unicorn. his last job was creating and leading up microsoft ventures. he's here with us. good to see you. >> nice to see you jon. >> you have been under a number of regimes. hp under mark hurd. that's been through a lot of changes. microsoft now. is it the real deal with satya nadella now? do you think he will make change happen. >> i think he is one of the most humble, fascinating brilliant and just giving human beings i've ever met. he's definitely up for the challenge. >> so why did you leave? dealing with entrepreneurs you couldn't stand it so much you had to get out? >> i have this fire in me.

i gave up a really great job. basically a dream job kind of created to get back into an entrepreneur. it is just one of those things you can't explain, you know. this week has been such an amazing week. company is starting to accelerate really quickly. and i didn't get paid a time. so it's just one of those things that we do. >> so tell me about unicorn. are you still in stealth? or can you give a hint about what this is? how much does this have do with gaming which is your original passion. >> everything has do with gaming and. what i can tell you is we're going to bring gaming to the masses and elements in a way that actually doesn't involve them playing games necessarily. that is not a lot i can say beyond that. it's pretty exciting though. and as we grow and make traction it will revealem so of the stuff we're doing that a different from anything else you have seen. that's what can i say for now.

>> what is it going to take. we're looking at the king and zynga now. what is it going to take for companies to come pelyy s tiesi bust out and not disappoint? not show they are a one hit wonder. >> first i don't know if your incinerate tong king or zynga being a one hit wonder. but if you compare the two company, king has four times as much revenue. half as many employees. the employees generate five times as much revenue to the company. king is a pretty amazing company. if you were to look at, and parallel them in casual gaming space, i would say you could say king is like the apple of casual gaming. they really have a focus. they focused on the candy crush saga. and data no one elsewhere they can really analyze it and say how do we monetize this even further?

zynga has gone through big changes. one of the things i will give them credit for is they hired two very smart people. o couple of the smartest people i know. used to work at microsoft. both brilliant guys and they are starting to change a little bit and broaden their portfolio. but i'll tell you, you know, casual games is a very interesting space. if you want to learn more about it, watch the latest episode of south park. [ laughter ] i'm serious. >> in what sense. why? >> south park is brilt. these guys are always on the edge. just the idea that you get people hooked on these games and they spend so much money just playing them. and they constantly drop coins into this game. and they don't realize how much they are spending. it is like an addiction. >> like enterprise software. >> do you think turning around the company is too tall an order for even the most talented of executives. >> it's hard to comment on that.

i can tell you don has a history of bringing really great talent. alex gardner is probably one of the smartest people i've met in gaming. it is hard to say. it is a tough, tough business to turn around. the challenge is when you have a game, you have a franchise that people are playing, you have to constantly add virginia and i thi -- add value to it. so they kind so have to get away from that and start to innovate. >> tell me about hp and the state of the pc. they just came out with the omen. harkening back to the older days. what do you think is happening in the pc business right now? is innovation alive? do you think it can really grow again longer term. >> first of all, pc gaming is the biggest platform for gaming. no question. and pc gaming you could say it

is making a resurgence. but if hp had stayed in the business in 2006 like they should have they would have been in a much better position than they are today. i saw the omen. i was very impressed. they used the voodoo logo in a lot of places. i think that is one of the reasons they came to see me. but there was nothing i didn't like about it. >> people love your comment about south park. i'll tell you that. >> what other franchises that you love that you would like to emulate. >> gaming franchises? yeah. >> just watch unicorn the start-up we're creating and watch what we do with it. later this year you will know more about it. but funny we launched on monday. here i am on "squawk alley" on friday and i'm getting calls from people from all over the place. the rate of acceleration in the start-up space is insane.

and i think right now for us we're pretty excited. we're just weighing where to go next. >> one last thing on virtual reality. is that for real or will it be the 3-d tv. >> totally for real. forget about the big head sets on your head. just think about the idea of wearing some sort of glasses or device where you see everything in front of you in real time. you are kind of -- you are thinking about new platforms. like it replaces, you know, the ipad or the surface or the phone. it replaces that and becomes mart of something in your every day life. so virtual reality is where it's at. it's real. >> we'll see if that unicorn name ends up being a reference to your valuation at some point. >> appreciate it. >> when e come back. mark zuckerberg addresses the business edge he gets from a unusual source. hint, president obama and steve jobs have always pointed this out. but rick, what are you watching today. >> we have to do to a postmortem

on the jobs report. there has been improvement. but we'll talk about. and the other thing is part-time is still the new full-time in terms of jobs is still there. and last but not at least we're going over comments labor secretary prez said right on our show on cnbc all after the break. ♪ introducing synchrony financial. bringing new meaning to the word, partnership. banking. loyalty. analytics. synchrony financial. engage with us. (vo) you are a business pro. solver of the slice.

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significant data point on the economic landscape these days. a lot different than before the

credit crisis. a lot of political issues crept in. so interpretation of strong and weak has so many asterisks. it gets so deep. but the market has none of that. interday chart of tens and you draw your own conclusions. i could show you a lot of charts. urinen e en -- european equiti. the bunds. we haven't closed at these yields since a week ago yert. so the week of october. and this come from a one month high. the whisper number was 60,000 higher than actual. and the whisper number was supposedly low because some were looking for 300,000. was it improving? absolutely. but does it matter? think about the u.s. economy when we compare to japan or europe. with we always say well we're the best out of the group.

but if the growth rate isn't up to standards or doesn't meet the challenges of the current environment we're in, at some point if thiz things deteriorate more and we're still the best, does it really matter? so that's why i said in the tease, part-time is the new full-time. many economists whether conservative or less conservative all agree that is something to deal with. and the affordable care act and new people voted to congress may address it. we had labor secretary thomas perez and he referenced emergency having a positive effect on manufacturing. last month has an upward revision. that is all true. but toms perez is a good government guy. and energy has survived big government but it wasn't helped by big government. i keep thinking of the tom stayer. the green guy and spent 70 million of his own money for the tuesday result. didn't fair well. because the renaissance

supersedes everything impeding it or not helping it. and he also referenced he went on a european trip and talked about the u.k. and europe. and this is what he had to say on the screen. i want to expand here in america. this is what they're saying to him. i want to bring more businesses here. or business here for the fist time. this is a real bullishness across the world from companies about america. of course, mr. secretary, there are. and i'll just pick one number to prove why. if you look at the kilowatt hour cost of industry in germany based on the euro stat at the end of 2014 around it was around 14 e cents. in the u.s. in the same time period it was half. about 7 and a quarter. that's the dynamic. and labor secretary, i don't know if anybody in the current administration or many of the people we voted out should be bragging about energy. just think keystone pipeline

here. >> rick, thank you very much. in case you missed it. mark zuckerberg doing a live public q&a and video on facebook yesterday. fielding off beat questions we heard from him already on the portrayal of the social network. we asked why he wears the same tee shirt every day. >> i really want to clear my life to make it so i have to make as few decisions as possible about anything about how to best serve this community. i feel like i'm not doing my job if i spend any of my energy on things that are silly or frivolous about my life. >> he did note he is in good company, taking a cue from steve jobs and even the president to some degree who often a dresses the same. but right out of the playbook. >> the president only has one pair of mom jeans and that is his go to pair i think every time. >> you are not getting the next

sit-down with president obama. >> interesting to see how this goes. some eat the same for lunch every day. so you can really apply it to all of the parts of your life. >> the thing that jumped out to me is a lot of people think facebook is frivolous, but clearly he does not and investors don't either. >> 2$200 billion company. not frivolous. up next, we set you up for what to watch next week. art cashin joins us at post 9 coming up next. so i can reach ally bank 24/7, but there are no branches? 24/7 it's just i'm a little reluctant to try new things. what's wrong with trying new things? feel that in your muscles? yeah... i do... try a new way to bank, where no branches equals great rates. dad,thank you mom for said this oftprotecting my future.you.

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art, good to see you on this friday morning. >> glad to be here. >> interday highes on the dow and s&p. but markets seem fairly non plussed. >> i think the markets were a little overbought and the jobs report was marginally disappointing. the whispers err s were a littl higher. the trading for today in morning weakness the nasdaq went down to yesterday's low and retested it almost to the penny. and when that held and they started to lift all the other indices turned back up.

i would watch, if we see any weakness in the afternoon, keep an eye in the area around 46.05. that's pretty much where it was. and if we revisit it's important that it hold again. >> double digit gains for the year. dow is going for its best three weeks in three years. back to that zombie sort of record high, record high market that we were in before october? >> it looks that way. all the seasonals are coming together. and jeff hirsch put out a piece along with his new stock trader almanac that by historical standards 2015 should be a good year. years ending in five. year before an election year. >> highs for the year. investor sentiment. >> yeah but you got to be careful of that. sometimes when you get a shift in the market and you get a

surge in optimism it is not immediately negative. it can bring with it pretty decent markets for the next week or two. so i'm not quite ready in the camp that too many people are bullish. >> art, thanks as always. have a great weekend. >> may pleasure. have a great weekend too. >> you heard from our earlier guests, virtual reality is real. we have two crowd funding projects trying to change the way live if that world. bleen generates real time holograms changing the way we watch movie, game and interact with others. they battled with the nimble sense. a the skeletal virtual reality software that optimizes vr technology like the oculus rift. with 82% of the vote bleen is the winner. raised about a tenth of its

target but very cool technology where it's basically 3-d in your living room new york city glasses required. congratulations to bleen onning with this week's tech crowd winner. >> another day, another new project from amazon. jeff bezos into his most recent foray with gadgets. don't go away. 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. ♪ they cut the power. it'll fix itself. power's back on. quick thinking traffic lights and self correcting power grids make the world predictable. thrillingly predictable. whoyour boss?rk for? yourself?

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in case you missed it. amazon making a the surprised product announcement via twitter. an internet connected voice controlled speaker which plays musics and acts as a personal assistant. the amazon echo and can deliver the news and weather. create to do lists and answer questions similar to apple see siri or google now. it will be available in, quote, the coming weeks. it responds to the name alexa. jon, do you think we need this? does the amazon consumer need it? >> i'll give ate try. it will be good.

>> in the meantime markets here are going to settle into a different pattern. lower by 61 i think was the session low on the dow. managed to climb back. s&p to double digits for the year. but got to get through the afternoon and for that we're closing up shot here at post nine. let's get to wapner back at hq and get the fast money halftime. thanks so much. welcome to the halftime show. let's met the starting lineup for today. pete and jon najarian, stephanie link, mike murphy and steve brasso. in fewer than six s&p sectors hitting mile stones today. including industrial staple, healthcare, fms and ch