♪ ♪ there must be some way out of here said the jumper to the thief ♪ >> happy friday. joining us kara swisher co-executive editor at re/code. >> good morning. >> kayla out today. jon fortt at post nine. busy session the dow erased almost all losses as walmart has gone positive. let's talk facebook first. first up mark zuckerberg looking smart today. a new note by cohen valuing instagram at $33 billion. remember facebook bought the company for a billion back in 201. the analyst says instagram is a valuable asset for facebook and pegs the company as one of its top picks in 2015. they see maus going to 680 by 2020. >> yeah. >> are we getting over enthusiastic? >> we are. i mean 2020.

i mean, instagram didn't exist, i don't know, four years ago. uber didn't exist three or four years ago. i mean, honestly the idea of deciding what's going to happen in 2020 seems much but this is what wall street analysts like to do. it's a great brand by the way and he did get a deal for it for sure. >> it is, kara. where do you think we are in the hype cycle here. lots of people wondering whether this is a bubble. i keep looking at the fact that a lot of this money is going toward the top tier type start-ups in names. it's still going to the ubers, still going to the snapchats. once it starts going to the offbrand number two i start to worry. what do you think? >> i think these numbers are pretty high but this -- these are the bets for the next platform. i mean it's not a surprising thing. a lot of people, including myself, made fun of the facebook $15 billion valuation at the time it was. and it turned out to be a good deal. now there was only one good deal in that group of them but i

think you're going to see there's all this money and it's going to chase the biggest companies and then from there move down to the next ones. i think deciding what's going to be hot in 2020 is insane. that's me. >> what's sane? deciding what's going to be hot by year end? in three months? the rate of change is so quick here, kara. >> but therefore you don't know what's going to happen if 2020. uber didn't exist, i think it was four or five years ago. you wouldn't know that or guess it or anything like that. that's all i'm saying. you don't know what's going to iterate next, what's going to happen, what device is happening. near term and far term and, you know, we're going to talk later about the cars, but it just seems to me that you can't predict what's going to be popular. nobody really anticipated how big mobile was going to be, how big the smartphones. everybody krapds all over apple for the iphone 6 and it's a huge hit. i tend not try to make predictions of what's coming. >> speaking of the high valuations, one is for snapchat. it's based in southern

california. you guys did a takeout on southern california tech several months ago. >> yeah. >> that was pretty forward looking. what's your take on what this valuation and snapchat's ability to spend now, what that means for that ecosystem down there? >> well, a lot of these valuations, it's not clear who's making the announcements. it's sort of a game of poker. like oh, it's worth this much and then the investors rush to get in and so, therefore, it becomes a reality. sometimes it's a little bit -- that said, this is a really great product and i have to say i'm super impressed by the recent discovery thing, the thing they're getting publishers, all kinds of stuff they're doing innovating the product in a why that is friendly to advertisers and fun for users seems to be the right thing. so i'm really impressed with the product and i'm always looking at the product first before anything else. that is a fantastic product and getting better. >> it does -- >> whether worth $19 billion i don't know. >> it does point to what i think cuban said a few weeks ago that venture capital is today what the nasdaq was in 2000, right?

it is the pipeline where overvaluation happens? >> yes. i think so. but what happens is these investors get super insecure and they don't want to miss out completely so they'll get in at the end or get in what they ber sieve the end and it is a game of poker and you'll see money come out too from the smart players. they take their winnings and go home. so it's sort of like a kenny rogers song, know when to fold them. >> kara mentions the apple car and more evidence this morning that apple is working on an electric car. we've reported apple has several hundred people working on the project. there are published reports it wants to start producing electric cars as soon as 2020. there's the number again. projects led by a former ford engineer who ran development for the iphone and ipod. every time whether an mp3 player, a phone, now potentially a car, apple comes in and reinvents an existing category with something better. should this be any different? >> i don't know.

i don't know if they're making a car, a dash for it, or just into the battery stuff which is super important to their phone. i would like them to get the apple tv out first. i don't -- i'm in the clear. i think there's a lot of reports and i'm not certain. a great essay by jean louie saying the apple car is a fantasy. i think they're understanding the car i always say the car is the first mobile device if you think about it. the car will be an important place for a lot of apple products to be integrated into and especially when you move beyond the electric car to the self-driving car. i think that's the real game is what happens when those start to really become interesting and they are interesting to me already. i think electric car is a stop along the way to the self-driving car. >> yeah, kara, you mentioned batteries being important and that strikes me also in apple's evolution as it gets smaller devices. chips are important to control its destiny with power consumption and batteries so if at all possible can get longer

life out of the things. do you expect them to collaborate with tesla, rumors of that several months ago, or really invest more in the batteries as the lawsuit filed by a 123 suggests they truly are. >> they have to. everybody has to get into batteries. batteries is where it's at. how do you -- that's the one area that hasn't innovated as much as everything else has. the thing that's sort of the gating factor here, the ability to create, you know, these longer lasting batteries. everyone's working in that area. google has a phone that pieces pull apart and it has to do with pulling in and out of battery. battery cycles. battery technology is the area that i think is super interesting and it makes complete sense for apple to be deep in here. makes complete sense for google to be in here and all of them. >> i would love to get your take on this new yorker profile of sir jony ive which got talked about, painted him as the bridge from jobs, gave him credit for all sorts of products including the night light saber and star wars movie.

if you're tim cook how do you feel and if it was an accurate reflection of ives' influence. >> it's interesting what's happening at apple. he's getting more power to the designers. they've always had power under jobs but there's probably going to be a push and pull between the people that -- the more engineering types and designers like johnny ives and angela air rents and others. i don't think tim cook cares if other people get attention, obviously. he's let a lot of executives out of the cave where you never saw them under jobs. he doesn't have a huge ego. i don't find him to have a huge ego. fine to put people like jony on display. he's been an important factor in the success of apple. >> i have to argue a key bet tim cook made was putting jony iv in charge, he pushed scott

forestall aside. >> controversial at the time. finally kara, you had a great lineup at the code media conference. headlines, names like chernin and bain and mark cuban. the dallas mavericks owner had interesting things to say about net neutrality. listen to some sound. >> it's hard to say there's never a role for government. trying to introduce things that don't need to be introduced. some people would say we want to keep it the way it is so it doesn't change. i've talked to the commission, presentations in front of them over the last 15 years and they change every few years. they're politically appointed. the uncertainty associated with that applied to the interset scares the [ bleep ] out of me. >> people had a lot of opinions about that. what was yours? >> you know, he makes a good argument. this is a really interesting issue and i think mark is super persuasive. i think he probably leaves out the fact that these are big companies fighting each other for power, and at the -- when --

when elephants fight the grass suffers. i think consumers, i think the thing we have to think about is how consumers get the best, cheapest, fastest broadband access and i'm sort of in the middle between cuban and the other side. i think both of them have huge business interests at stake here and the consumers should be the focus and broadband should be readily and cheaply available to all consumers that said he's super entertaining and very persuasive. people got mad about what he said and felt that -- but at least he's super intelligent and he's very -- he has an opinion and set off a great debate which i think that's the important part. >> care akara, i wonder what pos going to cause the investment in broadband competition we need to drive this forward longer term. i understand the excitement over net neutrality sure, but for me the question is, local broadband competition and if these rules end up stifling the investment that will lead to competition. >> it's not stifling.

that's not stifling investors. we argue net neutrality and i meant to ask the president and didn't have time. lack of competition in broadband. forget net neutrality completely in almost every market it's a monopoly or duopoly. how do we encourage more competition within the sector so we don't have these people making these price -- where you don't have a choice. that's the issue and everyone likes to argue over the net neutrality issue where to me is lack of competition in major markets. it really is profound. we have like lowest broadband abilities in the highest prices. >> sounds like massa san now. >> he is 100% correct. >> i know we've talked to you since your interview with the president but no one has gone deep with him on technology. did you get what you wanted? >> not everything. i had a limited time so i wanted to talk about net neutrality. i think probably would have talked more about stem and women

and diversity. we talked a little bit about that. i did want to ask about his tech usage because that's interesting. he's a really smart guy and i think he answered questions and i think we were a little -- we went a little harder on him than most interviews but i think he kept up completely and he's clearly very well versed on the stuff i'm interviewing hillary clinton this week and that will be interesting. >> you are a machine, kara. >> we'll see. >> have a good weekend. see you soon. kara swisher from re/code. >> thanks to kara. moving on a bitter record-setting cold air mass bringing subzero temperatures to most of the central and eastern u.s., the weather channel's chris warren in quincy, massachusetts, where the snow has been piling up for weeks. chris? >> it has been piling up for weeks and if you look the at the snow that we have here as we're driving around, this is likely some of the same snow that piled up just three weeks ago.

meaning that when you have storms during the course of a season, you get a storm come through, some melting. here it has been so cold in the month of february, only above freezing twice. so this snow all this snow around here in quincy and around new england, it's going to be hanging around a lot, a while, a lot longer than normally because you one storm after another with not much, if any, melting happening in between these systems. boston, itself is getting close to an all-time seasonal record when it comes to snowfall around 108 inches. right now around 99 inches. so about 9 more inches and this is the snowiest season on record. keep in mind the snowiest seasons previously have been over the course of months. this one happening in weeks. what we're looking at right here coming across this intersection you see all of the guys in oran orange. this is the red line of the t. we're outside of boston and looking in the direction going to boston and there are several maybe 50 to 100 workers out there with shovels working on

it. it's not a matter of plowing the tracks, plowing the rails. you have guys with shovels on the rails and they have to cover miles and miles and miles. so things slowly getting back to normal with garbage collection happening today. we have seen the ups out, united states postal service as well. so while, carl, things look nice, sunny, it's cold, 9 degrees, feels like it's below zero here in the boston area, one hit after another. we could have another messy situation this weekend and then again next week, chance for more snow. >> no lack of news, that's for sure. thanks a lot. chris warren in quincy mass. the dow has erased almost all losses. down 101, 102 points shares of deer slipping even though earnings and revenue did top estimates al they expect a 17% drop in sales in 2015. when we come back if you use turbo tax should you be worried

about your personal information being leaked. we will ask the ceo in an exclusive in a moment. uber, spacex, xiaomi, the age of the unicorn. dennis will join us to analyze the many companies topping the billion dollar valuation mark and if they're overvalued. speaking of valuations we told you about instagram's $33 billion price tag. the analyst who made that call and kara had choice words for will join us in a few minutes when "squawk alley" returns. but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience.

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welcome back. take a look at shares of intuit today, the turbo tax maker posted a smaller than expected quarterly loss due to strong demand

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know you can get help staying on track for the future you've always wanted. welcome back. our series on finding froth in siliconlp valley continues this morning we'rexl apartme' listing inok san francisco offering a year of uber rides forr is live in san explain. josh, i mean even if it's 50 y!o

bucks a day, that's more than $18,000.r seriously?i] >> well, jon, i'msoi standing inside the one bedroom apartmená and what's unusual about it, not the walls of windows, renovated they're offering potential xd buyers. remember the median price of aj single-family home in san francisco is now $900,000. sellers always looking for ways to distinguish their properties. now this uni, jon, is actually cheaper than the identical unit below it because it lacks a key feature in san francisco, no parking space.cm cf1 o so the listing agent and the seller got together and theyçóo came up with this unique, very they're going to offer the buyer one full yearlp of free uber rides, that'sxd going to bet(ctr at $5,000, but the hope is that makes up this lack of having no place to park.ñ >> being in san francisco, the

high-tech hub for everything new and trending, we onlyçó wa ñ to create more innovativei] ideas just like this. uber incentive to get peoplenb buy property. >> now, don't expectxd these kid of sales tactics to end soon. the agentsñr we speak to think p r(t&háhp &hc% o all the tech k money, the demantsds from ñrxdxd overseas investors if you want z act fast. z act it's been on the market about at least 10% above that asking price of e1çóxd$800,000. carl, back to you. >>lpw3 unbelievable, çójosh. people areçó asking what do youo in year two? that's your problem. >> a nice r $1-noeátj year.y for the i don't t't know if that works. >> great stuff. finding froth inr simon isok here with an interesting day shaping up. óìác

for the record let me mentionçóe had another hope with the data in qeurope. the euro problem with a problem prices.ling the big news is we have what is it the third finance z]minister meeting in two weeks. the greeks in brussels trying do a deal with thexd rest of europ. it's hard to believe it's only four weeks ago that we got the new government in greece. this is the greek finance minister going in. the meeting has been dek#3 from 9:00 to 10:30 the large number ofxd moving pas theret( are here. to doñ2hp deal. we keep saying it's the germans versus the greeks. the austrians, spanc spanish, finnish, the portuguese aren't happy either. the adults in the room trying to of deal. separately in paris, angela

merkelçó making the french prim minister.jfxd she has saidxd she believesxd t greeks need still significantlp improvement in what they haveljn the lptable. it's impornará becausená yesterday, there was a 50 minute telephone call between her and before hopefully financial markets do a deal soon. at the end of next week they will have no matter after that. here's what i want to mention. the airlines, the greek banks, a lot believe the greek banks are really the potential stick coming through here. reuters reporting 500 million euros a day leaking out now

because people perceive this locally as event risk. but we'll come back to that. let's mention the airlines. luf tan sa drapscrapped its dvd the year because of the strike, the labor union problems. they sold their stake or out of their stake in jetblue yesterday. about a quarter of a billion dollars. looks like british airways iag could have air lingo discussed in ireland at the labor party conference. that's probably not good in trying to get the deal through. in the meantime eyes down on the greek this weekend. see you monday. >> thanks a lot. simon hobbs. when we come back billion dollar companies, unicorns once considered rare, now there are more than 70 different businesses in the billion dollar club. how many are actual overvalued. more as the dow has erased a triple digit loss on the back of boeing up almost 3%. back in a minute.

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i'm bill griffeth. your news update at this hour. the obama administration saying it's going to create a special enrollment period for uninsured tax filers unaware they could face penalties for missing the february 15th enrollment deadline. about 800,000 filers were affected by that. 20% of those on healthcare.gov. another pay cut for a ceo this time it's citigroup slashing chief executive michael corbat's salary. a year in which the banks profit was cut in half due to higher legal costs and a slump in the

bond trading market. he earned about $13 million last year. transportation secretariant ifeny fox says zjapanese air ba supplier takata will be fined for not cooperating with a probe into the safety defect. a guitar sold at auction at guernsey's auction house for 5 $335,000. it was the black custom guitar, the legendary black beauty. the buyer colts football owner jim ear say. that's our news update at this hour. back to "squawk alley" right now. thank you, bill. billion dollars in funding seems to be pretty common these days from the start-up community. there are more venture capital funded companies valued over a billion dollars than ever before. last year, 48 companies entered the club, 23 companies moved up

the rankings after raising new funding. at what valuation level are companies no longer considered a start-up. joining us this morning is dennis, business editor at the "wall street journal." >> hey, carl. >> you attacked this question in all sorts of creative ways. >> we have. it's amazing to see the change in the number of companies but not just that, carl, the type of companies, and the location of these companies. so many of them that are now at least on paper we have to keep that in mind are valued over a billion dollars are coming from asia. seoul, south korea, a lot in china, fewer of them in europe, about five of them, which over a course of 73 is a small number. i encourage people to go to the journal and check out the list. crazy companies you've never heard of that are doing pretty at least on paper some pretty lucrative things. >> why the sky high valuations? is it because there's just a huge supply of money out there and not a lot of places to put it or are the business models

for these companies just so amazing and unique that people are sure they're going to make money? >> you put it well. finding froth segment is awesome. i encourage you to run it every day and ask those questions about these valuations. i think you raised a good point. big venture capital funds with big sums, they need to put other big sums to work. that has a natural impact of pushing valuations higher. we need to be skeptical of some of these valuations. on the other hand some of the companies are producing real revenue in a short period of time and have incredible potential to do so. largely these are the software companies that consumer internet companies, uber being the prime example, but take chieh txiaomi smartphone manufacturer out of china grown its business from nothing to having the largest smartphone share in china in under four years. there's bigger dynamics behind them needing to put money to work. >> the definition of the word start-up, dennis, is that a function of your capital or your

valuation, your life span? where is the line? >> where is the line? it's kind of where we say it is at this point. >> yeah. >> i think that's a reasonable question. some of these companies have been doing it ten years. i think the way we think about start-ups they're getting venture capital, they've not gone public, not been sold. most are probably started in the 2008/2009 time frame. and some of them have had incredible success in like basically a year. if you think about basically an im way for companies to collaborate today it's gotten to a billion dollars in 12 or 13 months. some of them truly are start-ups and some are not, just venture backed companies. >> how convinced are you that if these companies, most of them to troy to go public tomorrow they could maintain these paper valuation levels? look at what happened to box. look at slacks billion dollar valuation compared to a jive or a company already gone public in

the enterprise space trying to do collaboration, not getting that same level. what do you make of that? >> i think that some of them probably would not get the valuations that are there on paper. i think you raise a really good point. i think some will probably do better than what the paper valuations are and, of course, what's interesting about what's going on in the private market is we're seeing more funding come in to more companies in the later stages of their private lives. you have a host of mutual fund companies putting fifth, sixth around investments into the big firms. if xiaomi went public that would be greater than a $46 billion company. it would be. slack i think that's a fair question. may not be. but the froth is certainly out there but there are, in fact, real businesses in the list. >> i'm looking at the list. a lot we know. even from this very program. house, stripe, square, pinterest going up the list into the ubers and xiaomis. were there names on here that

even you said, i have no idea what they are, what they do. >> i've never heard of a south korea sort of groupon clone. i had never heard of equal tricks, inside sales. go down the list, like near the end, it's our job to know every company, right, carl, and jon. i don't know these. that's the cool part about business and the human experience. people are doing cool things all over the world whether it's worth what the venture capitalists say they are, it's really interesting to see the ideas people can create. >> some sound like slang. i have to do a double take when you name the south korean company. the names are fun for every era. it makes me wonder if the mobile and cloud era has gotten people's hopes up. they realize there's disruptive force, there's a chance to grab at the seat at the table. as the major names like your facebooks, like your apples, begin to crowd out the others,

maybe these valuations fall? >> yeah. they could. but, you know, take another one, bay bay.com which sells high quality baby gear to the chinese market that market is so big they're doing it. i don't think apple will get in baby clothes yet. maybe cars. >> i wonder, though, dennis how much of your coverage is driven by the thought of what that page, that front page, that story is going to look like in a year's time, right? nobody wants to look like a fool. >> no, but you know, whether they go public or not we'll see. i don't expect 73 of these companies to go public and have great success. you have to expect -- i would love to know what you think, expect 15 to 20% of them crash and burn entirely. some of the companies have no revenue whatsoever. pinterest even though it got a huge valuation has little revenue to speak of. no doubt there's risk in here. there is plenty of risk. >> yeah. usually what happens is a few go out and have success and the

window starts closing and the others start gasping for air. we'll see what happens this time. history sometimes repeats itself, sometimes not. >> dennis, great stuff. we'll talk soon. >> thanks a lot. >> dennis berman of "the wall street journal ". >> coming up already popular among teens, youtube, it's going after little kids. we'll explain in a moment. first rick santelli, what are you watching today? >> i think we're watching a young lady named tina today. we've heard about tina. there is no alternative. what do low rates have to do with it? we will discuss why we think maybe tina needs a nap. after the break. e

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yao coming up, mario with his view on the markets and his three favorite stocks right now. plus, instagram valued at $33 billion and the nasdaq near 5,000. are things different now versus 19 9? venture capitalist weighs in. do you still believe in miracles? 35 years after the u.s. hockey team's upset over russia one of the stars of that game jack o'callahan is here live. in finance now. can't wait for that one. see you in about 15. >> sounds good. thanks a lot. in case you missed it this morning news for our younger viewers and their parents. google is launching an app called youtube kids. the app free, comes next week. some of the features larger buttons, larger icons, timer where parents can set a limit of the amount of time their kids

spend with videos and a development we can all get behind the comments are disabled on the app. that is critical. >> definitely. >> reminiscent of what amazon has done with free time. interesting. >> and they've had some issues with that in the past. rick santelli and the santelli exchange, hey rick. >> wonder why restricting comments. anybody who's read the adult comments knows those sound childish. equal opportunity on comments personally. when it comes to comments on central banks we get little opportunity to comment. i said in the tease you know, tina, there is no alternative. i get it. once again let's take a step back. after the minutes and my guest today that make all these wonderful simple, easy to understand youtubes about the qe, he made a comment that hit home and i've had a lot of response the reason normalization is difficult

because nobody smells the natural gas anymore. it's become a assimilated. if you have an odor in your house after a while your nose gets used to it. basically we've calibrated the world to cost of liquidity it has become very used to. addicted to. it's assimilated part of the financial fabric of pricing and considering all the trillions of dollars that created. is anybody awake at the switch. the notion that we can't find sofrmg paper there's a shortage but there's really no shortage of issuance because there's no shortage of central banks willing to buy their own paper or in the case of the bank of ja paen active in the mini pit. doesn't bother anybody that central banks can buy equities. why would anybody want to trade against? i'm sorry. because there is no alternative. kind of like a bit like hey, if

bank of japan is going to buy it why would you fade it? as i said before, i think we need to give tina a nap. need another plan. we need another plan. i can remember interviewing mohammed ill arian, a super smart guy years ago, i think quantitative easing 1 or qe 2 talking about this issue because they don't have any other way to go and they want to be proactive. okay. bogey proactive doesn't mean you're doing the right thing down the road. the notion of yes, if everybody has boat loads of that and one part of the government is buying it from the other people need it are forced to buy other things that may be risky where does it end? is it about deflation is bad or all the debt can't be paid for unless deflation occurs. no matter what it is, i think a nap is totally in order. back to you. >> rick santelli, thanks a lot, rick.

when we come back one analyst thinks instagram will be worth $30 billion in the future and kara swisher disagrees. >> you can't predict what is going to be popular, nobody really anticipated how big mobile was going to be, the smartphones. everybody krapd all over apple for the iphone 6 and it's a huge hit. i tend not to try to make predictions of what's coming. >> an analyst will join us with the counter argument in a moment. with a little help from my state farm agent, i plan to retire in 15 years. wow! you're totally blindsiding me here. who's gonna manage your accounts? this is a devastating blow i was not prepared for. well, i'm gonna finish packing my things. 15 years will really sneak up on you. jennifer with do your exit interview and adam made you a cake. red velvet. oh, thank you. i made this. take charge of your retirement. talk to a state farm agent today. it can bring out the worst in people. but the m-class scans for danger... ...corrects for lane drifting... ...and if necessary, it

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welcome back. cou wan out with a note putting a valuation on instagram at $33 billion. remember back in 2012 mark zuckerberg picked up the company for just under $1 billion. john blacklem is with cowan. tell me how do you get to this $33 billion and who do they have to display? how much advertising market do they have to get to justify that? >> yes. we got to the $33 billion by taking 10% discount to twitter on an per mile basis and feel comfortable with that number basically because instagram is bigger than twitter and they're growing faster than twitter user growth last year actually accelerated. instagram ended 2014 with 300 million users versus 200 million in march adding 400,000 users a day, accelerating from the prior year. fa nominal growth. we did an ad buyer survey

suggested very strong demand for instagram. we asked advertisers which platform did you not advertise on last year that you expect to advertise in 2015 and instagram was number one, 30% of advertisers expect to advertise on the platform and cited fast growing users, high engagement, and brand affinity. we feel comfortable with that estimate and frankly it could be a little bit low based on, you know, kind of our proprietary work. >> the pent up demand on the ad front is considering but this 2020 deal, john, people i mean the point has been made talking about the life span of facebook almost from the beginning. does that not give you some pause? >> yeah. i'm having a little bit of trouble hearing you. so basically the work that we did, you know, got us more bullish on facebook. basically we think there's 23 to

36% upside of facebook shares right now and ultimately we think over the long term, with the shift of $200 billion global tv, ad market to digital facebook with facebook core facebook and instagram would be big beneficiaries and facebook is one of our top picks this year. >> do you worry about having a forecast that goes out that far? another five years? >> yeah. i'm sorry, i'm having trouble you. apologize. >> no worries. let you go. great note worth reading. john blackledge joining us from cou wan. we should point out facebook around 77 bucks, price target 91 and not the first person to take a look at the citi, mark may, doing the same thing. >> yes, indeed. the part i worry about here is when you start to justify one company based on the valuation of another in the same space, because that kind of

self-justification starts breaking down eventually. i wonder the overall size of the advertising market. it's only so big. so can all of these succeed? can you get pinterest worth billions and twitter worth billions and instagram worth billions. some content company or consumer packaged goods company will have to have a lot of extra billions to justify -- >> narrow where the ad market is not showing that unbridled growth. for the week on the nasdaq 100 facebook is one of the big gainers. >> in the top five or six. >> i think it was yesterday had a huge pop along with a number of other names including box. >> yeah. so thanks to john. wish the audio problems had been easier to deal with. a heart felt plea from the city of boston to netflix when we return. in my world, wall isn't a street. return on investment isn't the only return i'm looking forward to. for some, every dollar is earned with sweat, sacrifice, courage.

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welcome back. boston asking netflix to please let president underwood help them through the endless snow. in an open letter to "the boston globe" they beg netflix to release the third season of "house of cards" early to help the city through the 100 inches of snow it has seen and in the

letter writes in part, quote, we are in our pajamas, in them for days, making sock puppets and shoving crayons and twinkies at our children. we are convinced they are never going back to school. people jumping out of windows into snow banks i think cabin fever has set in. maybe netflix should heed. >> interestingly got within ten bucks of 52-week high. all-time high 474, but 489 not far away. we will keep our eye. the nasdaq struggling to hold on to what would be the eighth straight day of gains. hey, bertha. >> holding on by a thread here. by it's been the nasdaq today that has really outperformed and seen some gains and it's actually the one major indices index on pace for gains this week. you know, one of the interesting things as the nasdaq is now about 120 odd points away from

taking out its all-time high close back from 15 years ago, is just the difference in the composition. 15 years ago, biotechs had huge expectations didn't really deliver that much, high flyers, only made up about a 7% weighting of the nasdaq composite and now a 16% weighting and today biotechs continue those indexes continue to make new highs. they continue to advance. they are up better than 10% for the week. today some of the gainers that are lifting the nasdaq include celgene which had a cancer drug approved for new indications in europe. these are the stocks that continue to move things higher. you can't talk about the nasdaq's return to 5,000 without talking about apple. apple continues to make new highs today. it is just off of that today. but what's interesting is, when

you think about where the leadership is going to be, you know, it was a little more than 100 years ago we had the big three automakers. these could be the big 3 starting in the 2020s or 2030s. >> eight days in a row is good but in 199 nasdaq had -- 1979 nasdaq had 19 straight up days. >> that is good. >> let's get back to headquarters and wapner and the half. ♪ welcome to the halftime show. meet our starting lineup. stephen weiss the managing partner of short hills capital josh browne, ceo of ritholtz management and jon and pete are the co-founders of ohm and mario is the founder of gamco investors. our game plan, $33 billion, that's what someone says instagram is worth. which has us wondering if people e