california, 11:00 a.m. here on wall street, and in midtown at the headquarters of sterling cooper & partners, "squawk alley" is live. ♪ ♪ our little tribute to "mad en," the final season, of course, starts sunday. we'll hear from one of the stars, john slattery, later this hour. joining us, the founder, editor and ceo at business insider. >> great to be here. >> kayla tausche and jon fortt. what is essentially friday for us because the markets are closed tomorrow as the jobs number will hit at its regular time. meantime, we continue to watch

indiana. lawmakers presenting a new bill this morning clarifying the state's religious freedom restoration act. the speaker of the house there says this new bill includes language with safeguards to prevent discrimination. our mary thompson's on the floor here at the exchange with the latest. >> hey there, karl. the reaction from the business community so far very positive. indianapolis-based eli lilly saying in a statement we believe that the senate bill 50 as it's called addresses key concerns with the religious freedom restoration act. and the state's chamber of commerce which represents almost 2500 indiana businesses and which also opposed the original bill said in a statement on its website, "our state has suffered tremendously the past week. the legislation amendment spells out that indiana will not permit discrimination based on sexual orientation or gender identity. that's what businesses and individuals from around the state, country and world needed to hear." now, at the urging of the state's embattled governor, mike pence, the senate submitted

senate bill 50 for committee consideration today. the bill states the religious freedom law can't be used to refuse services or facilities based on a number of characteristics including sexual orientation and gender identity. the bill also states that the law can't be used as a legal defense refused to provide services to anyone on the basis of sexual orientation, gender, identity, race, et cetera. the original bill, of course, raising the ire of the business community which feared it would make it difficult to attract talent and investment to the state, and on a national level, of course, business leaders partially denounced the law including marriott ceo arnie sorensen who said in a speech it was pure idiocy. so it looks like again the senate has responded make the fix that the governor had called for. karl, back to you. >> white a remarkable cause and effect. it comes as a host of tech leaders signed a joint statement supporting nondiscrimination protections for lgbt people. similar to civil rights laws. big names signing the bill include dick costello of

twitter, jack dorsey, max levchin. remarkable the way it's ballooned, jon. would you argue in the course of 72 hours? >> it is remarkable but i think we need to be clear about what this is and what it's not. the language saying this bill does not authorize discrimination is different from the specific nondiscrimination law or provision which is what some in indiana have been pushing for. and i think conservatives in the state are still against. i was on the aclu site. it turns out just 21 states and washington, d.c., according to their map have specific nondiscrimination clauses that include gays and lesbians. 29 states don't. so some people want this provision added to indiana. this fix of the law says this law can't be used for discrimination, but it's not specifically a nondiscrimination law. >> but it's enough to garner the support of businesses which were extremely critical of the way the law was first written. we saw mary mentioned many businesses based in indiana coming out in support of this. the ncaa which would host the

final four in the state this weekend says it's very pleased, henry, but it does beg the question, regardless of your beliefs and regardless of whether you agree with the fact that indiana said it needed a response to the hobby lobby decision, whether any state can afford to turn its back on the way the business community has very clearly shown. >> it's great to see that the business community had actually band together and make a lot of noise, and it was very concerted noise very fast, and this is a very fast response. it's actually very encouraging. this is an issue that the country has moved on from, largely. finally you get a lot of attention focused on this, silicon valley to its credit took a big stand and walmart did and others. it's not just a few folks on the coast. so good to see change happen as a result of this. >> does it surprise you that tech appears to have taken the lead in this case? followed up quickly by other industries, too. >> i think it was certainly interesting to watch. and this follows on -- we had a conversation a couple weeks ago about starbucks with its -- >> race. >> -- right, race and stores and

that was an unusual move to see a company do something like that. and so silicon valley's following on to this. again, the big change here was walmart jumped in right away. walmart is america everywhere. and so for them to come out, that was big. and then the ball rolled from there. >> right. >> as liz gaines points out, silicon valley has a lot easier time pointing outward at people who are doing things that aren't quite right. maybe a little bit more difficult time looking inward at gender issues, at culture and ethnicity issues, you know, liz argues in the piece, and i think there is some truth to that, this is an outward point. we'll see how silicon valley continues to go forward. >> good and fair point given the fact that we were all obsessed with the trial, sexual harassment trial or discrimination trial and all the issues that have been highlighted fervently within silicon valley. big opportunity for the valley to sort of point out and say hey. stop looking at us. >> speaking of companies like apple, according to recode,

apple is asking tv programmers to provide the shows and streams for its new tv service. apparently apple is asking networks to handle the responsibility and the cost of the streaming infrastructure when the new apple tv launches. and then more apple, senior designers of the watch speaking to "wired" ahead of the launch later this month. the piece is titled "the secret history of the apple watch." it talks a lot about the design process from the original planning phase. it also has some interesting details about the first prototype and iphone rigged with only a velcro strap. i can never get enough of this backchannel stuff. that's really interesting. >> it was funny, it was described as basically the way every other kickstarter project has begun, an existing device with some sort of quirky accessory tagged on to it. certainly interesting to see that. but it also talks about this irony of the fact that apple basically created the obsession with our smartphones. the reason why we talk about engagement with twitter, facebook is because we're looking at our phones. we're scrolling through them. now apple wants to turn the tide

on that and say we're trying to create a device that shortens the time that you are looking at your device. five to ten-second interactions is the way that they've crafted some of these apps which is completely against the ethos of what the iphone has done for a lot of the tech that lives on it. >> definitely. what struck me most about the piece was the idea that they didn't start out with a purpose in mind for the watch. it was more well, we want a watch. let's figure out what we can do with it. i feel like to some extent we're still there. people are okay with the idea of a watch, and well, let's see what developers come up with that's really compelling. i think we really don't know at this point. but apple is the best position to get a lot of people, probably millions within the first few weeks, to buy it and then developers will come up with something. >> that's right. they will sell millions and then we will see and all the folks who plunked down $500 to $1,000 will maintain until their dying day that it's the greatest decision ever. to your point -- i'm going to keep an open mind, see what

people say. but i waited three years for this big screen. i love it. it is not an inconvenience to take this out of my pocket. i don't need any more notifications, thank you very much. there's plenty of health stuff on this. so no. i am not going to be one of the people camping outside the apple store. >> we had gene munster from pipe other yesterday. his argument it will sell big at the beginning because of fan boys like jon, me and probably kayla. >> fan girl. >> yes. and then it will level off and take a year for it to truly grow vertical. do you think that's fair? >> i think it will take more than that. i think if the folks talking about the problem that it solves, which is that this is just such a pain, who wants to carry this around and so forth, the only time it really will take off is when it's completely self-sufficient. and it does everything. and you don't have to carry this. and apps have gotten to the point where a lot of the stuff we do on this, you just don't need to do any more. then okay, start to make sense. but pretty much every application that is described now, this does beautifully. and again, it's not that big a

deal to take it out of your pocket. >> but the example that we talk about off and on this show is what if you're in a meeting and so it's rude to take out your phone and either look at the time or look at an e-mail? it's just such an obvious transgression of etiquette to just look at your watch and be able to see something. i mean, that would seem to serve a purpose in that case. >> the watch is way better than google glass for that. anybody who saw the early beta with google glass, interacted with somebody wearing it, you immediately feel like this is such an antisocial device. what are you doing to me while talking to me? am i that boring that you can't stand talking to me. is it like the terminator readout? but it's going to be the same thing with the watch. what if you get an important notification? >> depends on -- >> do you have to react to it? and then imagine if you have to respond and you're doing this in the meeting which is just as bad as fiddling with this. the devil will be in the details. maybe worse. >> we're trying to work out the social mores around it. >> we shall see. you will know. finally trouble for google

in europe. "the wall street journal" says the european union is preparing to file antitrust charges against the company. "the journal" says google could end up facing a fine of more than $6 billion, although they continue to maintain that their practices, jon, are not anticompetitive. >> well, anticompetitive means something different in europe than the u.s. the test in europe is does it harm the ecosystem of other rivals versus does it harm consumers? and i think some of the stuff that came out of the ftc when they put out a little bit too much, or at least more than they intended from the open records request suggests that at least u.s. regulators were really close to pressing further on google. the eu has a history of already pressing further than the u.s. is willing to. so this is definitely something to watch. >> the tip from "the journal" piece about why there's a belief that charges could be coming in the next few weeks was because the eu had asked companies whether they could publish what would have been confidential submissions of how they feel about google. if you're a company and you

submitted a case against google or your personal experience working with google, with a would you down side be to saying yes, eu, you can go ahead and publish this? i feel okay about this? >> well, it depends what you have. presumely all those documents were carefully prepared with the knowledge that they may become public. it certainly will be interesting to see what google is being accused of. they do have a different market position in europe than the united states. much stronger in mobile, much more dominance of that, much higher search percentage. and in the eu, as jon said, much more aggressive. so it will be interesting to see. for me there's a big echo of what happened to microsoft in the 1990s, which is through the 1990s, microsoft gained power, more and more justice scrutiny of this. eventually the justice department jumped in. that was the point at which microsoft peaked. the company's culture changed. the market changed. but if you go back to the stock, that's when it peaked. they had to change the way they did everything. and to me, this is the beginning of that for google. >> microsoft took one for the industry, though. everybody looks back at that and says okay, we're not going to do

that. we're not going to defend our position to the dying breath and suffer the full force of regulation here. so google thus far has been pretty good about making compromises and making sure that the hammer doesn't come down. >> and by the way, i'm wondering, do you think in microsoft's case or in google's case, is it a regulatory peak or more of a function of the way search has changed, the way mobile has changed things? >> google competes incredibly hard, but this is a business that is a natural monopoly. and with android on the mobile phones, they have gotten more aggressive about saying you want the software? you've got to take all the other stuff we're going to give you. so they are doing something that somewhat resembles, basically tying services together and using that position. but really what it is, we as people don't like companies to have as much control over particular markets as google has amassed. and ultimately, get into the technical details of what they're violating, that's the real emotion that's going on here. >> this is something that has been at the forefront of the company's focus. though i just remember being in

sun valley at the allen & company conference this summer, asking eric schmidt for an interview. and he said you know what? i'm too focused on europe to talk about anything else. so europe seems to be at the forefront of the company's policy agenda at least for right now. >> they're devoting a lot of resources for a long time, and it looks like it's coming to a head. >> henry, good seeing you. have a good, long weekend if you take those. let's get a check on the markets. rallying for the first day in three. all major averages in the green. the dow up by about 62 points. of course, we did see jobless claims hit the lowest level that we've seen since about 2000. and also the trade gap narrowing largely unexpectedly. and that's good enough to lift the s&p 500 by about 0.5%. the nasdaq just shy of that by about 0.25%. when we come back, mobile payments have moved into the mainstream. braintree owned by paypal will tell us how fast that sector is growing. plus, the largest r&d investment in imax history. the ceo will join us to show off

the new technology live at the theater in hollywood. and like a child who just found out santa isn't real, i've spent the past week questioning everything i know. that's one review of samsung's newest phone, the galaxy sx. the person behind that article is going to join us live on "squawk alley." post 9 is sponsored by fidelity investments. innovative ideas for serious investors. who do you trust? whose analysis is accurate? how do you make sense of it all? a simple, unbiased stock score consolidated from the opinions of independent analysts... is that too much to ask? nope. equity summary score, powered by starmine, will help you execute your ideas with speed and conviction. and it's only on fidelity.com. open an account and find more of the expertise you need to be a better investor. i am never getting married. never. psssssh. guaranteed. you picked a beautiful ring. thank you.

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welcome back. growth in mobile has been helping push sales for online food delivery services like munchery over the past few years. and that company's ceo has been saying consumers now treat their phone like the remote control to their lives. and joining us is munchery co-founder and ceo and braintree general manager juan benitez, the company munchery partners with to process its mobile payments. so juan, first for you, i think, what is the next big problem for mobile payments to solve? because braintree was key in figuring out that uber process where, you know, you automatically pay when you get out of the car. that's very key to the operation of that. but it's been a couple of years since you guys had that innovation. what is next? >> yeah, it's things that we're in the midst of right now. we see a lot of new mobile wallets coming to market. and merchants such as munchery

have the opportunity to use those in their experiences to make it easier for their consumers to buy. but then they have the complexity of managing and delivering those experiences to their customers. at braintree power, a single integration, a single platform through rsdks that allows a simple and easy access to many different payment types such as paypal, credit cards, apple pay, bitcoin and more. and we know that with innovation in mobile wallets, there will be more of those in the future and our merchants need future proof be to be able to protect those against the complexity of operating across all those different environments. >> and so tre, where is the friction for you at this point that mobile can help solve? are people abandoning food in their carts on the mobile app and you want to make it simpler to pay? what's the problem? >> there's not so much of a problem, but we do want to make it as easy as possible for customers. we want them to not even think twice. and that's the beauty of partnering with braintree where all that is taken care of for us, make it easy for people to

just go right through with that one step in their e-commerce experience. allow us to focus on what we do best which is making the food and delivering it to customers. >> and tri, for people watching who aren't familiar with munchery because you're not in their cities, it's basically a preprepared meal by a chef that you can order on demand, or in advance, and can you basically select your meal. i actually ordered a munchery meal yesterday, in fact. i order it had at 5:00 p.m., and it said it could be at my apartment within 31 minutes. but it did feel like an only-in-new york-type product. i know you started in seattle, l.a. as well. but i'm wondering if you think this is a big-city phenomenon or how long it will take the on-demand economy to start catching on in some of the more suburban areas? >> you're right in that, you know, on demand is definitely a feature that works best in a dense you aurban environment. the beauty is we can also serve

the suburban markets as well. food made by top local chefs, can you browse the menu using your phone or your computer and place an order and get it delivered tonight. so we feature these fresh, delicious and wholesome foods made using local ingredients. and so for us, the on-demand aspect of it is what the young folks are definitely auntooed to. and looking forward to. and we are very proud to offer that service and get it to people within a very reasonable time. >> yeah, anything that makes it easier to eat good food, i am in favor of. thank you to tri tran and juan benitez from munchery and braintree. there appears to be some movement this morning at the iran nuclear talks in switzerland. the a.p. is reporting there is a preliminary agreement but also a dispute now with iran over how many details are going to be revealed. reuters is saying that a press event has been announced but no time has been set. reporters have been told to move there immediately. obviously, we know the deadline has been extended a couple of

times and that the p5 plus 1 met without iran earlier today. stay tuned as we learn more about that potential agreement. we have seen crude weaken a little bit which would indicate some believe that a deal is in the works if iran is able to start putting more oil on the global market. >> brent crude is down by about 3.25%. it slipped just a little bit in the minutes since that news. when we come back, we'll tell you why the biggest stars of netflix are reminding everyone to please binge watch responsibly. plus, only a few days away from the final season of amc's "mad men." i'll talk to one of its stars, john slattery, in just a moment. "squawk alley" will be right back. you're driving along,

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in case you missed it, as part of its april fools' campaign, some of the stars of netflix warning about the dangers of binge watching. here's taylor schilling from "orange is the new black." >> recall a time before you discovered all these great shows on netflix, before frank

underwood and crazy eyes became your most important friends. you used to have a real life with friends you could actually hug. remember? it's time to get out of netflix and get back to the world of real human relationships. your netflix friends will still be there for you when you return. ♪ >> that one's good. it's not nearly as good as michael kelly "house of cards." have you seen that one? >> no, they can't possibly mean that, though. to go back and hang out with your real friends. >> april fools', right? yeah. well, speaking of netflix and content, the final installment of amc's "mad men" billed the end of an era begins sunday evening. it's a reference for a show that came on the air during the time of groundbreaking changes in the television industry. "mad men" ushering in a time of high-quality content on basic cable, and it was also among the first series to syndicate its episodes on netflix. star john slattery sat down with

me and reflected on the nearly decade-long run, the world of advertising and social media and his character, the inimitiable roger sterling. talk about roger sterling. put roger sterling in the year 2015. would he be a partner at a major advertising agency, or is he a guy that could only exist? >> he'd be about 111, i think, wouldn't first of all, he'd be in a pine box. no, he'd number a nicer coffin than that. roger sterling -- i don't think roger sterling would make it to 2015. maybe he would. >> would he have a twitter profile? >> i don't -- i -- twitter profile, he'd have a tube in his nose. he'd be in a wheelchair. i don't think he'd have a twitter profile. no. he'd be with a woman who has a twitter profile. >> of course he would. how would he pitch something like the apple watch or the hot "it" item of today? >> you know, the thing about roger was that he would hire people who would pitch that.

he wouldn't -- and he would recognize. that's one of the things he was good at was recognizing that he wasn't the creative person. he could appreciate it. he'd appreciate it 99 cents. he appreciated the brilliance of don draper. and he knew what he knew, you know. he knew how to make a deal. he didn't necessarily have to come up with a creative, you know, it wasn't his job. >> he fought a lot of fires. >> he did. >> he fired a lot of people. >> he fired a lot of people, which was fun. he -- i think there's some enjoyment in that, firing someone who deserves to be fired or in the case of -- what was that guy's name, burt -- i can't think of it. michael gaston played him. firing him more than once. that was fun. you know, roger was a pragmatist, you know. figure out, you know, life is finite. it's not going to go on forever. and you'd better get the most out of it. and he's decided to do that.

>> i asked him for his best piece of advice from roger sterling to the executives who watch every day. and he said hire the right people so you don't have to do as much work. seems like something roger sterling would say. >> i like that. i like some of the theorys on how it's going to end. obviously the opening credit suggests don jumps to his death. some argue that when he saw burt do the tap dance routine suggests a brain tumor or something in the works. we'll see how it ends. it's going to be fascinating. >> it will be. quite a run. almost nine years on the air for that show. >> let's count you down to the close in the uk and across europe this morning. stocks mixed and trading in a tight range ahead of the jobs number tomorrow and a lot of uncertainty, of course, surrounding the greek bailout talks. major european markets will be closed friday and monday for the easter break. marks & spencers among the winners, better than expected quarterly results including its best nonfood sales performance in nearly four years. they'll be able to work when

they get back to work early next week. when we come back, imax is calling this the largest r&d investment in the company's history. there's a little preview for you. ceo rich gelfan will break it down from the chinese theater in hollywood in a moment. oil at the lows of the session. these days, the most important person in your business could be a software developer. so, how's the app coming? we've got to make something great. how's the app coming? we've got to do it fast. let's do this on bluemix. you can build apps with analytics, big data, even ibm watson. that could give us the edge. let's do this on bluemix. it can provide code for you. we could be first to market. because being best is priority one. being first is priority one. there's a new way to work and it's made with ibm. know your numbers, you and stay focused.d,

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good morning, everyone. i'm sue herera, and here's your cnbc update at this hour. according to the associated press, western officials iran and the u.s. have agreed on the outlines of an understanding that would open the path to a final phase of nuclear negotiations. but the two are in a dispute reportedly over how much to make public. an eu representative says there will be a news conference or event later in the day. nine british citizen, three men, two women and four children were arrested in turkey on suspicion of trying to get into syria. this is the latest of several cases of britons trying to enter the country. rescue teams launched a rescue operation after a rushing fishing boat sank in the freezing waters off the peninsula, killing at least 54 crew members. another 15 are missing. a russian news agency says the crew might have violated safety rules by exceeding the capacity of cargo storage.

and air b&b is coming to cuba. it will allow american travelers to book lodgings in cuba. the most significant business expansion on the island since a thawing of relations between the two countries. and that's the cnbc news update for this hour. let's get back to "squawk alley." thanks, sue. a real throwback thursday for you on this day 40 years ago, microsoft was founded by bill gates and paul allen. and dominic chu is back at hq with more. dom. >> i mean, 1975, i mean, i'm 38 years old. i can imagine microsoft has been around for longer than i've been alive right now. actually, as a public company for not as long. it was 1986. so we decided to take a look for this throwback thursday at two software giants, microsoft and oracle because they both went public a day apart from each other back in 1986.

so they've been around for longer as private companies, but microsoft and oracle. oracle went public on march 12th, 1986, microsoft a day later. on their first day as public companies, microsoft, a very healthy, respectable 33% gain in its first day of trading. meanwhile, competitor oracle in terms of software companies up 37% in their first day. now, you kind of fast forward to what's happening since 1986, and you can see some huge moves. since this inception, microsoft shares have gained about 64,000%. 64,000% just since 1986 when it went public. meanwhile, oracle has done even better. it's up about 92.6,000% 'burgh that time. and just to give it some perspective here, the split adjusted basis for microsoft shares right now is around 7 to 8 cents, just pennies in terms of the cost basis in terms of its ipo price.

so if you look at the grand scheme of things, microsoft has split nine times since then. carl, staggering moves on this throwback thursday for microsoft on this at least coming up on its 40th anniversary as an incorporated company here in the united states, guys. carl, back over to you. >> on the same week when apple turned 39. interesting, dom. thanks a lot. just in time for the premiere of "fast & furious 7," imax is launching its new laser projection technology. julia boorstin is with the ceo in hollywood. morning, julia. >> reporter: good morning to you, carl. that's right, we're here at the tcl kmin knees theater, originally the grauman's chinese theater with the ceo. thanks for joining me today. >> thanks for having me. >> you were here last night premiering the new laser projection technology at the premiere of "fast & furious 7." you spent three years developing it. what will we notice different on the screen? >> the first thing you'll notice different is that it fills the full screen. so this screen is 91 feet wide.

and under traditional digital projector, you couldn't fill it. you could only fill about 75 feet of the screen. so in order to have premieres in imax in the world in a theater like this which has 1,000 seats, you really need to fill the whole image. in addition to being bigger, it's brighter. the darks are darker. the contrast is better. in regular -- even in film, when a bride and groom stand together, the white and the black bleed together. in the new imax projection technology, you see the whites and the blacks. you might not realize, you know, if you don't have golden eyes all the details. but you look at it and you're definitely coming out saying that looks really awesome. that's amazing. >> here's the question from a business perspective. last year the overall u.s. box office was down 5%. is this the kind of thing that's going to get people to come out and pay the 10 or $14 to see a movie in a theater? >> the simple answer is yes, not alone, but as part of an ecosystem.

imax has innovated for our 45-year history, we actually invented stadium seats, the modern era of 3d, very early into digital projection, some advanced sound systems, and this laser technology will definitely create a bigger differentiation between the home and going out of the home. so you're not living in a bubble, right? a lot of changes are happening inside the home, better, higher quality images, more choices of content, and the answer is you have to keep giving the audiences a better experience to keep them coming out of the home and paying to go see ipamax did >> you have about 1,000 theaters around the world and plans to build a lot more. can you keep up this rate of growth, or is there a limit of how many theaters like this you can have? >> theaters like this there's a limit because there aren't that many iconic locations. although one thing laser did was enabled us to go into a lot of iconic locations. so this laser will roll out into lester square this year, the empire theater. it's going to universal citywalk, sony lincoln square,

the smithsonian. and on a general matter, you can't have an imax on every block, but we have about 450 theaters in backlog. so we have a lot of growth for the foreseeable future. that's going to build out. and we're signing at a very healthy pace. >> and china is your biggest market after the u.s. you have plans to double the number of theaters you have in china. but it seems like china is fraught with a lot of issues. you're involved with a lawsuit with the chinese-owned company for -- government-owned company for stealing some of your technology. what kind of limits are there in china? >> china's been a fantastic market for us. and some of the last few months we've actually done better in china than we've done in the u.s. and if you look, we don't only do u.s. movies in china. we do chinese movies in china, films that people haven't heard of such as wolf totem or dragon blade. and the results have been -- we'll do sometimes a bigger percentage of the box office in china than we will do in the united states. and china's box office is growing at about 30% a year,

compounded, while the u.s. box office is relatively flat. so that's the place you want to be. and we really have a market-leading position there. >> just a quick final question because we're out of time, what's your outlook on the box office this year? are we going to have another sort of mediocre year like last year or up? >> well, it's a dangerous business, predicting film results, but if this year doesn't deliver, no year will ever deliver. it's blockbuster after blockbuster, three weeks apart, ending with "star wars." so it looks really good. >> certainly a big weekend coming this weekend with "fast & furious 7." rich, thanks so much for joining us. appreciate it. guys, back to you. >> julia, thanks so much. julia boorstin in hollywood. when we come back with the samsung galaxy s6, the iphone has met its match according to a review in "the wall street journal." first up, though, rick santelli, what are you watching today? >> reporter: you know, today's trade deficit number was very fascinating. it was small, the smallest it's been since october of '09. isn't a strong dollar supposed to give us a different effect? what's going on?

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starts at 6:30 a.m. - on the (vo) rush hounose.und here but for me, it starts with the opening bell. and the rush i get, lasts way more than an hour. (announcer) at scottrade, we share your passion for trading. that's why we've built powerful technology to alert you to your next opportunity. because at scottrade, our passion is to power yours. coming up, nelson peltz, criticizing his firm's performance and activism in general. plus, jobs, earnings and the markets. we break it all down with dan greenhouse, paul richards and the traders. and microsoft at 40. are the company's best days ahead? or is the stock feeling a little

long in the tooth? that and more top of the hour. carl, we'll see you in about 15 minutes or so with peltz and so much more. >> working a long day today, scott. see you in a few minutes. thanks. over to the cme group, rick santelli with "the santelli exchange." hey, rick. >> reporter: hi, carl. you know, it's really gets to be complicated these days, doing accurate forensics of data points. there was a time where things were simpler. a lot less really macro moving parts. but these moving parts seem to be here to stay. so i think we just have to put in the extra effort. trade balance, employment reports, you know, seasonal issues, nonseasonally adjusted issues. why is it so important? because everybody is trying to come up with that glimmer of information that will differentiate between are we getting a safe philosophy with regard to the economy? are things going to end up helping us like productivity which has been very muted of

late? or on the other hand, are things worse than expected, and what we're seeing, some at levels of good jobs, but not showing up in things like gdp. this number gives us lots of clues. let's take it on the surface, it's pretty easy. total imports and exports, you have the dollar value. simple stuff. and guess what? when you take 221 billion minus 186, guess what you get? you get the number that was flashed on the screen. 35.4 billion. and as the charts show, 35.4 billion indeed is the lowest level since the fall of 2009. but here's where it gets interesting. okay? it's like a spread. if you have a yield curve spread, you're looking for a steepening or flattening, how it happens doesn't interest you because the money's the same. so you could have a steepening with rates going up or down. it's a differentiation between one side and the other. but the difference with this is is that it is true. but what you want with a strong

dollar or usually what you get is a real lack of exports. you hear the multinationals screaming, all the manufacturers, they're trying to export beyond the port. implications from california. but it was only down 1.6%. the real surprise was the imports. they were down 4.4%. but here's the rub. when i brought this up to traders on the floor, they go it's easy, you know. we're kind of energy self-sufficient. we're kind of floating in this stuff. it's all about petroleum and energy but it isn't because ex-pet toll yum was down 4.2. the moral of the story is that imports are weak may tell us more about our domestic competent than the strong dollar tells us about exports and the rest of the world. back to you. >> rick santelli diving deep into that deficit. rick, we appreciate it. when we come back with the samsung galaxy s6, the iphone has met its match. that's according to a new review in "the wall street journal" and the person behind that review is

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my nai'm a lineman for pg&e

out of the concord service center. i have lived here pretty much my whole life. i have been married for twelve years. i have 3 kids. i love living here and i love working in my hometown. at pg&e we are always working to upgrade reliability to meet the demands of the customers. i'm there to do the safest job possible - not only for them, but everybody, myself included that lives in the community. i'm very proud to do the work that i do and say that i am a lineman for pg&e because it's my hometown. it's a rewarding feeling. well, the reviews are in, and results are mixed for samsung's new flagship galaxy s6. take "the new york times" where they wreet while the phones are magazinificent to look at, theye most likely not enough to fix what ails the company. despite improved hardware, the s6 and s6 edge still lack

compelling software. but "the wall street journal" taking the iphone 6 has met its match. joining us now is "the journal's" reviewer, columnist joanna stern. joanna, interesting review. i'm going to push back on a few things because you come out pretty strong in favor of the s6 here. and i think the question for investors, twofold. is this phone enough for samsung to keep its lock on android, and is it enough for them to gain share back from apple? now, the battery is sealed in here. it doesn't have the same flexibility that previous galaxy phones have. yes, the screen is better. yes, the camera is as good as the iphone 6 or better depending on which review you read. is that really going to be enough to change the calculus for the user? >> yeah. i think you have to look back at the s5, right? it wasn't an impressive phone. and that's why it didn't do well for samsung. that's one of the reasons, at least, right? we had the other competition of the android phone makers making really well designed phones with

features that were better than what samsung was providing. i think with the galaxy s6, you have samsung getting ahead of all of those other companies. i think the big question then becomes price, right? android phone makers have figured out figured out how to make great phones for a really cheap price. that's great for customers. samsung's not doing that here with the s6. the starting price for these phones unlocked is the same as the iphone 6. >> well, okay. so i guess i question some of the premise where you're saying the s5 didn't do well for samsung. maybe compared to the momentum that samsung had. but they're still clobbering everybody else when it comes to profits. i kind of go back to is somebody who's looking at an iphone and is going to tend to go with an iphone going to switch to a galaxy because of this? or is somebody who is with samsung and getting ready to switch to the iphone 6 or 6 plus because they just wanted a bigger screen, are they going to stop because of this phone? >> i think that second thing you talked about right there, people

who have been happy with their samsung, had the galaxy s4, which was a really well-selling phone for samsung, they look at this phone and i think they go with samsung still. they know the ecosystem. they know what they like. i guess they haven't had a problem with the software. in this case the phone is as good in terms of hardware as the iphone. and if they prefer android and they prefer samsung's android, then this is what they'll go with. >> joanna, the company has said that part of what its strategy needs to be to have a successful turnaround is to do better on the low end, to compete with -- but you described this as a compilation of the iphone's greatest hits. obviously, this is a higher-end phone, but i'm wondering if this in your mind bolsters its position on the high end and then what you see that samsung could do down the line on the lower end as well. >> yeah. i definitely think this bolsters its position right now on the high end. one thing that's very interesting about samsung is that it only takes a couple of months for them to start dropping the price on these phones.

especially as we get into that holiday season or even back to school season. you see lots of great deals. so that's where i think samsung can actually go head to head with some of that lower end on the android front. but yeah, right now this is definitely direct aim at the flagship high-end phones, both android and the iphone. >> joanna, i had drinks last night with some samsung people. they were thrilled about your review. >> uh-oh. >> but they also thought, oh, she had to get that smackdown at the end there about the software. how serious did you mean that? >> i mean that. i mean, i really mean that. you have to look at it from two points of view, right? samsung has android. they're using android. so they have a lot of the goodness of google. why they keep insifth on putting on their own skin and some of these distracting software layers and their own app store is confusing to the end user. it's confusing for someone who has taste. they don't want that all on there. yes, you can remove it. but why should i have to go through that process when buying a $600 phone? but then you have to look at the other side too, which is why i'm

staying with my iphone right now is because apple is so good at locking us into their ecosystem with their services. for me a big one, and i'm going to admit it right here, is imessage. i use imessage with my family. i use it with my co-workers. i use it on my mac. i have it on all my other computers, on my ipad. right? samsung doesn't have something like that. yes, google does. but i'm not tapped into that ecosystem. so that's one of the main reasons if not the main reason i'm sticking with my iphone. and samsung's got to figure out a compelling thing. that's what farhad said in that "times" review. >> that's hard to do. we've seen entire analyst upgrades based entirely, john, on the ecosystem, the stickiness of apple. >> and it's only going to get worse, right? with the watch. more and more we get more of these products, they tie us in and that makes it harder to switch. so hardware is a big part right now. hardware, we want this great hardware, but software is more important or eke l. qually as important. >> we know screen size has been a factor in apple's share at

least. they've been gaining share. and the idea of samsung gaining share back, i guess it doesn't help that joanna's not switching from the iphone to the s6 despite the positive review. >> it's like i love you, i love you, i have a boyfriend. >> or a girlfriend as the case may be. >> or wife or husband. but yeah. again, like i said, i think it is a wonderful phone. i did not expect to fall for it so hard. and people just make their decisions. all based on software. >> all right. joanna stern of the "wall street journal" with news on the s6 that every smartphone lover could use. thanks so much for joining us. >> thanks for having me. >> meantime, oil is pushing lower this morning amid some of these reports regarding the iran nuclear talks. we will take a look at what the market's doing and what it's saying about what we might hear over the next couple of hours. don't go away.

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welcome back to "squawk alley." shares of arista networks down as the cloud computing company announced its cfo is departing for person reasons. it went public in june last year at 43 bucks a share. but still you can see a down day for ar sichlt ta network stock.

>> oil off the lows of the morning. we await reports on anything out of lausanne, switzerland. >> good morning to you, carl. traders are watching this very closely. we did see crude oil sell off more steeply on those headlines that we are going to get some sort of a statement on how these talks are progressing but john kilduff from mcguinn capital tells me that really deal or no deal it doesn't matter. think about it this way, if we do get a deal we sell off because we've got more iranian oil coming onto the marketplace. that's what the market seems to be anticipating right now. maybe not necessarily a deal but a framework to move forward and finally get somewhere. on the flip side of that he also says there are 20 million barrels of iranian crude oil in floating storage right now. that oil is going to come to market either way. whether it comes to europe and the united states because sanctions are lifted or whether china scoops it up, that's why traders are really looking at this from both sides and saying crude oil is positioned to go lower. i will say this.

technically speaking we're still staying in these very tight ranges. wti between $48 and $50. brent crude between $54 and $55. we're not really moving out of that range until we get a piece of news that will take us in one direction. but right now traders think it's down. back to you. >> all right, jackie, thank you very much. we're going to watch that. obviously reporters have been told to get into place. what they're going to be told in the next couple of hours remains to be seen. in the meantime the rally here is fading a little bit. we were up 100 points plus on the dow. now up about 38 points. again, as we head into a jobs number tomorrow that it's going to be hard to react to in real time. >> it will be. you mentioned only a handful of times in the last 20 years had the non-farm payroll number happened on good friday and easter weekend falling on this long weekend as well. so it will be interesting to see how the markets react on monday. >> a few tech stocks doing well. expedia up 4% right now. t-mobile and workday also up

around 3% range. >> and of course facebook on that citi upgrade. >> target goes from 91 to 97. looking at all sorts of reasons why. compound annual growth rate on revenue's going to be pretty good. on that note let's send it back to headquarters. have a great long weekend. here's wapner with the half. thanks so much. welcome to the halftime show. let's meet or staurting line-up for today. josh brown is the ceo of ridge holtz wealth management. pete and jon najarian, the co-founders of options monster. michael block chief strategist at rhino trading partners. paul richards head of fx and credit distribution at ubs. and dan greenhouse is btig's chief strategist. our game plan of the day looks like this. all bark no bite? do activist investors really get the big returns, do you think? some scathing criticism today from one person who says the numbers tell a