good tuesday morning. the electronic expo in california and "squawk valley" is live.

♪ this is tuesday and joining us is the founder and ceo of luma partners. good to see you this morning. >> kayla, what's the news this morning? >> fitbit confirming in a filing that the people involved in a deal last night holding a call and deciding to raise that price range from 17 to $19 a share here on thursday under the stock

exchan exchange. the new range of prices is 19 which is the midpoint. $3.7 billion valuation. that is about 12 times where the company was last reported to be valued in 2013 when it raised about $30 million in a private round of funding. cramer talked about it all morning about how it's not a fad, in his view, but that, of course, is the debate on the street with investors who are considering an investment. how long does the wearable trajectory run? the indications are that it's positive because they are upping the range here. >> jon, profitable, well-known name, sold 20 million of these things so far. >> the central question is what fitbit does about the smart watch movement. do they decide to move into android wear and make accessories that work with the apple watch or do they decide

that they are a system on their own? they risk getting blackberried if they do that. but if they are successful and do the whole hardware and software i software integrated package. >> some say the timing is odd. >> but carl, in a way, this is like the perfect storm for an ipo store. you have the company and the deal. the company side, as john mentioned, is growing and profitable. let's stop right there among tech companies. it is margins are great and they are actually growing. so, you know, this thing is a solid story in and of itself. yes, there will be competition but, as jon mentioned, this is only the eighth technology ipo of 2015? investors, there's got to be scarcity factor there. >> investors are saying this is

the most closely watched ipo and it's more of an enterprise system than a consumer product. the market is volatility and investors are not playing with much sentiment. you wonder what we're playing into here. >> i think people will be mindful of valuation. let's face it, this is approaching gopro sort of multiple. at the end of the day, it comes back to scarcity. in 1999 we had an ipo a day in the tech market. now we're at two a month. >> cramer this morning saying we're under deal. >> overstored in this nation but at least right now underdealed. >> going back to the fundamentals here on fitbit for just a moment, one of the numbers i'm watching is the active users per device sold. as of 2014 it was still at .61.

for every device, there's less than one user. you expect a compounding effect. you would hope that somebody passing it along to somebody else if they upgrade that device. you hope to see that number get closer and closer to one. are these fitbits really getting used? >> shares are down almost 3% after getting downgraded to neutral at mkm partners. it will produce uncertainty and twitter is not doing enough to fix these user growth. there's no catalyst for improving sentiment in the last two quarters. the one thing they say is a potential for a bid is google coming in. it's been a hiccup for those who want to be short outright. you're a great user. you're an ace on the platform. what's your thought on the stock? >> well, it's impossible that it's in play. this would be the right time for that to happen when there's more turmoil in the ceo camp.

but look, this is a -- this is not -- this shouldn't be compared to facebook and doesn't have the same number of users. this is a different business. it's got a lot of users and, quite frankly, the symbol is different. the most frequent questions to ask is who, where and what. so that's location, identity and intent. twitter can do that. i'm absolutely amazed that they've had the revenue traction that they've had with the limited products. mostly it's on premises. that's a testament to adam bain. i think the future of this company is off premises. >> if you believe in the twitter story long term, it's on sale. now is the time to buy. it's below 35 bucks. what's happening now to them, this downgrade is exactly what was wanting to be avoided. everybody knows jack dorsey.

well, apparently everybody doesn't know jack as much as they had hoped. their price target is 39 bucks. >> if the company can execute on a strategy, it has a potential to be a $100 billion company. it is a fair weather downgrade. this is a company where everybody else thinks they know what twitter needs to do and everybody thinks they know who the next ceo is. it's definitely jack and definitely adam bain. how do you operate as a company when there are all of these people trying to throw suggestions at you? >> it's hard. everyone has a perspective when it's a popular consumer name, especially when you have a lot of influencers, the people saying that are the ones that actually use the product. jack is a great entrepreneur. i'm hearing that hipster beards are out. >> his mom would agree with you. >> as he would say, don't judge people by their appearance but

that's a different story. e3 kicks off today but press events from the biggest video game companies are raising questions about the future of gaming. julia boorstin is there. good morning, julia. >> reporter: good morning, carl. sony and microsoft battle for your living room. sony talking about ps-4 as a media hub. it will soon allow customers to buy individual channels rather than just bundle subscriptions. the service is expanding to los angeles and san francisco as of last night. now, in contrast, microsoft focused on games announcing it will make older xbox 360 games work on its new xbox 1 by the holidays. another weapon in the console battle is, of course, exclusive game content. among them, microsoft's xbox has

halo 5, guardians and sony ps4 has call of duty black ops 3. and there was a rave of response to star wars battlefront. that drove sales of gains for the microsoft platform. virtual reality is in focus here. sony showing off its virtual reality headset with the first ever multiplayer headset. and microsoft yesterday showing off its hallow lens augmented reality goggles projecting a minecraft game around the world. and htc's vibe. but virtually gaming isn't for everyone at this year's e3. the ceo says it will be years, not months, before it impacts

ea's bottom line. back to you. >> julia, we'll talk about that more in a moment. we want to take you to donald trump and he's making a major announcement, possibly regarding the run for president. let's listen in to what trump is saying right now in manhattan. >> islamic terrorism is eating up large portions of the middle east. they've become rich. i'm in competition with them. they just built a hotel in syria. can you believe this? they built a hotel. when i have to build a hotel, i pay interest. they don't have to pay interest because they took the oil that when we left iraq, we should have taken. so now isis has the oil and what they don't have, iran has. and in 19 -- and i will tell you this, and i said it very strongly -- years ago i said --

and i love the military and i want to have the strongest military that we've ever had and we need it now more than ever but i said, don't hit iraq because you're going to totally destabilize the middle east. iran is going to take over the middle east. iran and somebody else will get the oil and it turned out that iran is now taking over iraq. think of it. iran is taking over iraq. and they are taking it over big league. we spent $2 trillion in iraq. 2 trillion. we lost thousands of lives. we have wounded soldiers that i love. they are great. all over the place. thousands and thousands of wounded soldiers and we have nothing. we can't even go there.

we have nothing. and every time we give iraq equipment, the first time a bullet goes off in the air, they leave it. last week i read 2,300 humvees -- these are big vehicles that were left behind for the enemy. 2,000. you would say maybe two? maybe four? 2,300 sophisticated vehicles they ran and the enemy took them. you're right. last quarter, it was just announced our gross domestic product, a sign of strength, right? but not for us. it was below zero. whoever heard of this? it's never below zero. our labor participation rate was

the worst since 1978. but think of it, gdp below zero. horrible labor participation rate and our real unemployment is anywhere from 18 to 20%. don't believe the 5.6. don't believe it. that's right. a lot of people up there can't get jobs. they can't get jobs. because there are no jobs because china has our jobs and mexico has our jobs. they all have our jobs. but the real number, the real number is anywhere from 18 to 19 and maybe even 21%. and nobody talks about it because it's a static that is full of nonsense. our enemies our getting stronger and stronger by the day and we, as a country, are getting

weaker. even our nuclear arsenal doesn't work. it came out recently. they have equipment that is 30 years old. they don't even know if it worked. i thought it was horrible when it was broadcast on television because boy does that send signals to putin and all of the other people that look at us and they say that is a group of people. and that is a nation that truly has no clue they don't know what they are doing. they don't know what they are doing. we have a disaster called the big lie. obamacare. obamacare. yesterday came out that costs are going for people up 29, 39, 49 and even 55%.

and deductibles are through the roof. you have to get hit by a tractor. literally a tractor to use it. because the deductibles are so high it's virtually useless. it is a disaster. and remember the $5 billion website. 5 billion we spent at a website. and to this day it doesn't work. a $5 billion website. i have so many websites, i have them all over the place, i hire people, they do a website. it costs me $3. $5 billion website. well, you need somebody because politicians are all talk, no action. nothing is going to get done.

they will not bring us, believe me, to the promise land. they will not. as an example, i've been on the circuit making speeches and i hear my fellow republicans. and they are wonderful people. i like them. they all want me to support them. they don't know how to bring it about. they come up to my office. i'm meeting with three of them in the next week and they don't know -- are you running? are you not running? could we have your support? what do we do? how do we do it? i like him. and i hear their speeches and they don't talk jobs and china. when was the last time you heard, china's killing us. they are devaluing their currency to a level that makes it impossible for our companies to compete. impossible. they are killing us. but you don't hear that from anybody else. you don't hear it from anybody else. and i watched the speeches.

thank you. i watched the speeches of these people and they say the sun will rise, the moon will set. all sorts of wonderful things will happen and people are saying, what's going on? i just want a job. just get me a job. i don't need the rhetoric. i want a job. and that's what is happening. and it's going to get worse because, remember, obamacare really kicks in in 2016. obama is going to be out playing golf. he might even be on one of my courses. i would invite him. i have the best courses in the world so i'd say, i have one right next to the white house. right on the potomac. if he'd like to play, that's find. in fact, i'd love him to leave early and play. that would be a good thing. but obamacare kicks in in 2016.

really big league. it is going to be amazingly destructive. doctors are quitting. i have a friend who's a doctor and he said to me the other day, donald, i never saw anything like it. i have more accountants than i have nurses. it's a disaster. my patients are besides themselves. they had a plan and now they have no plan. we have to repeal obamacare and -- and it can be replaced with something much better for everybody. but much better and much less expensive for the people and for the government. and we can do it. so, i've watched the politicians. i've dealt with them all my life. if you can't make a good deal with a politician, then there's

something wrong with you. you're certainly not very good. and that's what we have representing us. they will never make america great again. they don't even have a chance. they are controlled fully. they are controlled fully by the lobbyists, by the donors and by the special interests, fully. they control them. hey, i have lobbyists. i have to tell you, i have lobbyists that can produce anything for me. they are great. but you know what, it won't happen. it won't happen. because we have to stop doing things for some people but for this country it's destroying our country. we have to stop and it has to stop now. now, our country needs -- our country needs a truly great

leader. and we need a truly great leader now. we need a leader that wrote the art of the deal. we need a leader that can bring back our jobs, can bring back our manufacturing, can bring back our military, can take care of our vets. our vets have been abandoned. and we also need a cheerleader. you know, when president obama was elected, i said, well, the one thing i think he'll do well, i think he'll be a great cheerleader for the country. i think he'd be a great spirit. he was vibrant. i really thought that he would be a great cheerleader. he's not a leader. that's true. you're right about that. but he wasn't a cheerleader.

he's actually a negative force. he's been a negative force. he wasn't a cheerleader. he was the opposite. we need somebody that can take the brand of the united states and make it great again. it's not great again. we need -- we need somebody -- we need somebody that literally will take this country and make it great again. we can do that. and i will tell you, i love my life. i have a wonderful family. they are saying, dad, you're going to do something that's so tough. you know, all of my life i've heard that a truly successful person, a really, really

successful person and even modestly successful can't run for office. just can't happen. and yet that's the kind of mindset that you need to make this country great again. so, ladies and gentlemen, i am officially running for president of the united states and we are going to make our country great again! ♪ it can happen. our country has tremendous potential. we have tremendous people. we have people that aren't working. we have people that have no

incentive to work but they are going to have incentive to work because the greatest social program is a job. and they will be proud and they will love it and they will make much more money than they would have ever made and they will be doing so well and we're going to be slif thriving as the country. it can happen. i will be the greatest jobs president that god ever created, i tell you that. i'll bring back our jobs from china, from mexico, from japan, from so many places. i'll bring back our jobs and i'll bring back our money. right now, think of this. we owe china $1.3 trillion. we owe japan more than that. so they come in, take our jobs, our money alone us back the money and we pay them in

interest and then the dollar goes up so their deal is even better. >> real estate mogul donald trump, officially a candidate for the president of the united states in 2016. if you're doubting that this is real, reuters has confirmed that it is true. he's filed his net worth, which appears to be $8.7 billion. eamon javers is live. >> they are saying real and operating properties owned 100% by donald j. trump, total $1.6 billion in a variety of categories broken out. there's been a long history

here, of course, of trumped net worth and what is it. various financial analysts have tried to figure that out but no one has been successful until now. trump providing this figure for us and the rest of the world to look at. of course, his interest in the presidency goes back a long way. as far back as 1987. you remember he flirted with the candidacy in the 1988 cycle. he also flirted again with it in 2000 when he announced that he was resigning from the republican party to possibly run as a reform candidate. then, in 2010, he said he might look at the 2012 campaign. he didn't do that either. now we're getting an official declaration of candidacy from donald trump who says he'd be the greatest jobs president that god ever created. carl? >> eamon javers in washington, thanks to you. he made quite the entrance coming down the trump tower. we'll take it look at it. this is him and his wife coming down in advance of his speech. terry, thoughts on this?

>> wow, carl. only in america, right? honestly, i moonlight as a canadian. there should be an automatic clause that 30% salary decrease for every comedian late night in america because their job just got so easy. >> the thing that hits me about this, i mean, he's speaking apparently unscripted. his presence is definitely going to shake up the field. he's going to bring up some things in controversial ways. humility is clearly not one of the things that he plans to bring to this when he says i'm going to be the greatest jobs president that god ever created. we need a president who's literally going to make america great again. and that's why he's running. he didn't say "we." we need a leader who is literally going to make america great again. >> of course, some of his comments are already going viral, especially the claim that making a website only costs

about $3. he has a ton of websites and, of course, that was the claim coming on the back of the criticism of the rollout of healthcare.gov that he says cost $5 billion to produce. >> clearly, funding won't be an issue. >> about $500 million in liability. >> free media he's likely to get because of the force of his personality and name recognition in this country. >> jon, you've mentioned twitter being cheap, this being a buying opportunity. it's got to be cheap now because think about it, it's 2.2 times trump. >> that's an interesting way to measure value, indeed. >> terry, thank you for joining us today from luma. >> let's get a check in on the markets which briefly touched the highs of the day. dow up as much as 100 points at one point.

dow, s&p and nasdaq eyeing their first gain by a fraction of 1%. this is due to the upcoming close of the european markets. they are watching the ongoing greek drama and as well as the fed meeting kicking off today in washington. meanwhile, shares of netflix is in the green after an analyst raised her price target from $600 to $780 a share. it's now the third highest estimate on the street. netflix is still up more than 90%. actually, it's 95%. that's up nearly 2%. and yelp shares are also surging this morning. remember, "the journal" and other reports reported that it was goldman sachs that ran a sales process. of course, sales processes can take about two months to run. we will have some news for you when we can confirm rumors in

the market. but some unconfirmed tweets and chatter here on the floor of the new york stock exchange are leading that stock up by 2%. carl? >> before we let you go, terry, we want to get your thoughts on yelp. >> what are your thoughts? >> again, i think i mentioned location being one of the key questions and they certainly have a large network of the distribution in people's hands. it's delivering location data. there's got to be lots of ways to monetize that. the biggest issue is competition coming from the likes of google, apple and facebook and others. >> we'll keep our eye on that name. thanks again, terry. we're going to go to break. dow awfully close to session highs. up some 82 points. we'll keep our eyes on trump's speech as it continues. don't go too far. but what if you could see more of what you wanted to know?

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good morning, everyone. i'm sue herera. this is your cnbc update at this hour. nasir al wahishi was killed. it's been confirmed.

and mohammed morsi's sentence was upheld. and a balcony collapsed killing five irish students and eighth people were taken to trauma centers. and researches released a study saying that marijuana use was already higher among teens in the states that passed medical marijuana laws. >> breaking news on hacking in major league baseball. dom chu is here. dom? >> what is happening right now, the st. louis cardinals is being investigated by the justice department and the fbi for possibly allegedly hacking the

houston astros and they broke into the computer networks and those networks were compromised on certain statics, also scouting reports, possible trade data and, again, interesting enough, the investigation is being led by a field office. it's progressed to the point that the subpoenas have been issued on the cardinals and according to law enforcement officials there is a statement, however, from the commissioner of major league baseball saying that, quote, they've been aware of and are fully cooperating with the federal investigation into the illegal breach of the astros database. again, hacking in baseball. the cardinals allegedly possibly hacked the houston astro maybe secure data on statistics.

>> dom chu, thank you. both european stocks have recovered during the session. we were down at the beginning for fears of the default possibly exit from the eurozone and contagion up 2.5% and germany confidence at a seven-month low. there is a belligerent speech by the british prime minister which called for debt relief which is not what the eurozone is prepared to offer saying they needed to end the greek exit talk once and for all. we count down to thursday's meeting of the eurozone finance minister which is a big line in

the sand. interestingly, then, in berlin, this may be partly why we've rallied. the woman is under so much pressure here now as the most powerful leader in europe broke her silence that's been for several days now. she said she is aiming for a greek deal by thursday although she wasn't sure that one would be forthcoming and then very importantly said that she is personally devoting herself full time to finding a greek deal. on the streets of athens, it's worth mentioning that the australian chancellor is there in an attempt to prevent a default. there is talk that if you don't get the finance ministers coming to a conclusion with greece on thursday, there could be an emergency leader's summit on friday. meantime, you are backstopped by a prearranged leader summit on thursday and friday of next week. guys, back to you. >> simon, thanks. meanwhile, billionaire kirk

kerkorian passed away. >> few people have made las vegas what it is more than kirk kerkorian. he was an eighth grade dropout and bought a plot of land and caesar's palace was built there, he bought the original mgm grand which was destroyed by fire and then the current mgm. mgm resorts and our family of 62,000 employees are honoring a great man, a great business leader and innovator, one of our country's greatest generation. he combined steadfast integrity to become one of the most reputable business leaders of our time. and he was a coach and taught me the importance in looking

forward. the company was on the brink of default and remained the company's largest shareholder. kerkorian is an american story, a hollywood story. born in fresno, a boxer, dropped out of eighth grade, married three times, the last leading to a bitter public spat with public lawsuits. something difficult for the intensely private man. as much as he gave away -- and he gave away a lot -- he never wanted his building put on any building and never quite got out of the movie business. kerkorian was funding a movie starring christian bale. again, confirmation that he has died here in los angeles at the age of 98. back to you. >> jane wells, thank you for that. we'll be right back.

greece hangs in the balance. the fed agaibegins its meeting. plus, a five-star portfolio manager is here with his picks of the best places in the world to invest right now. it might surprise you as well. and an exclusive research report. some pay thousands of dollars for. google could be in for a day of reckoning. we're going to reveal those deals at noon. jon, see you in about 20. >> all right, scott. the doors have not officially opened yet but there is news from the biggest video

gaming convention of the year. the electronic entertainment expo, that's e3 in l.a. virtual reality is starting to become big business. on the road, anyway. joining to us break it down, senior internet and entertainment analyst colin sebastian. >> good morning. >> it's not going to be a big business out the gate but what do you make of this and how soon should we expect it to have an impact on how we're gaming at home? >> well, virtual reality is on the center stage. that's true. we really don't expect the commercialization for virtual reality to begin in earnest until next year. here we're seeing facebook pit up against microsoft and sony and we're getting a first look

at these products hands-on in detail this week. >> so colin, one of the things that strikes me about the news that i've been seeing out of e3, it's old school. it's about the games again. yes, they are mentioning a living room but they are not putting that kind of stuff in their pitch to gamers. what does this tell us about the holiday season and how the consumer's entertainment system might be dispersed. are you expecting console games to grab a bigger share of the pie than they have in the last couple of years? >> well, there's a lot of excitement here at e3. console gaming is alive and well and i think this being the red carpet event, we're seeing a lot of the holiday titles on display. i think we can also say that, unlike most other forms of media and entertainment, more people are playing video games than ever before and they are spending more money on video games. as we enter the sweet spot of the console cycle, this industry is flourishing. >> so, then from a stock

perspective, what do you like? it's not a big part of microsoft, xbox and xbox live is off to the side. for sony it can be significant. that company stock has had a big run due to the game stock, more life in it than a lot of people expected. what stocks do you like in this arena? >> well, on microsoft they think we have a new cloud focus and gaming is one of the success stories. i think it's important. more specifically, to the video game space, we like electronic arts and activision and perhaps the easy money has been made in those stocks, we think there's fuel left in the tank. we're entering the sweet spot of the cycle and shares have traded higher on multiple basis. so we like that stuff, too. we like it for virtual reality. they will be selling those devices. >> what do you make of all of

the sequels that are coming out? games that maybe haven't been in circulation since 2007? we're seeing those titles, fan favorites appearing here. what does that tell you about intellectual property in the gaming space of what we should expect to see maybe in terms of marketing costs over the next several quarters? >> well, it's a very high barrier to entry in the console gaming space. we're seeing developed budgets well north of 50 or $100 million for some of these games. it makes a lot more sense for the developers and publishers to focus on halo, call of duty, star wars is probably for the publisher and platform holder. we think that strategy makes a lot of sense. there will be a lot of dollars spent this holiday and sequels, that built-in cost has been made with titles like star wars,

riding the coat tail from disney, so to speak. that strategy also makes sense. >> colin sebastian coming to us from the world of eye candy, the e3 conference. thanks for joining us. >> thanks for having me. the gap stock is up 1% today and has a new ceo on board and a restructuring plan announced. courtney reagan is live in san francisco with more from her exclusive sit-down in nearly a decade with the gap ceo. courtney, over to you. >> reporter: that's right. because we haven't talked to the gap ceo in quite some time, like you said, in nearly a decade, we had a lot to talk about. gap was founded here in san francisco but the proximity to silicon valley can be a mixed blessing. the talent competition as fierce as it has ever been but says it helps with knowledge and

capability. >> i think there is a big opportunity for unexploited innovation in the fiber yarn and fabric clothing. and that can be quality benefits, performance benefits or all of the above at the end of the day. athletica is doing well across a whole range of things. that isn't really the kind of innovation that is entered into the ready to wear space today. so that's something that i'm really excited about it. surprisingly maybe, or not, i'm a bit of a skeptic on technology mostly because i think we live in a world where there is a lot of gratuitous technology that gets thrown at things. at the end of the day, technology is meaningful if it creates real persistent and lasting benefits for a customer. i personally -- i don't know about you, i don't need to take my heart rate from my t-shirt right now. that might be an interesting feature later on. it's in its early days. we're looking and talking and

experimenting. but it's probably not there yet. >> peck also says his decision to close 25% of gap's north american store isn't because the shift to online shopping or the state of gap's business and it's not a preview of a death of the mall. >> i don't see stores going away at the end of the day. just the opposite. as stores and digital come together, to provide a much richer customer experience by connecting those two things, that opportunity becomes a huge opportunity. so to me this is a really cool time because the technology i think will be disruptive. and i like disruption for a company that has the size, the capability, the scale and the knowledge of a company like gap. >> reporter: and in about 15 minutes from now, peck and other senior leader will address investors. it will last about three hours and we'll get an update on the

state of the business. for now, back to you guys in new york. >> look forward to it, court. and up next, what can misfit wearables tell us about rival's fitbit's ipo in just days? that's next on "squawk alley." shopping online... ...is as easy as it gets. wouldn't it be great if hiring plumbers, carpenters and even piano tuners... were just as simple? thanks to angie's list, now it is. start shopping online... ...from a list of top rated providers. visit angieslist.com today. and sleep deprived. bring us your aching... bring us those who want to feel well rested and ready to enjoy the morning ahead. aleve pm. the first to combine a sleep aid...

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wearable company misfit is diving into the launch of things

as it meets integrations for locks, lights and more. as we count down to the fit, let's take a closer look. sonny warren is the ceo. it's great to see you. >> good to be >> wearables market has changed so much since we last had you on the program back in december. the apple watch shift, fitbit filing for an ipo. >> it's definitely in the transition phase, where you one of the most important things is to find more utility out of the wearables. that's why we introduced the other integrations that we have. it's going to be an interesting time. >> how do you find out, sonny, which integrations the customer actually wants? because the apple watch was supposed to be chockful of utility. and people are still figuring

out exactly how to use it. and exactly if it's a mandatory thing for them to have. how immersive do you need to make your technology with things that people actually want? >> i think you need to make it really easy. a press of a button and it turns on your lights. instead of having to go to an app or what thought. through the harmony hub and integration, you can pretty much access any connected hardware device out there with the flash product. i think we're just trying to make it easy. that's the most important thing. >> sonny, a big question for a company like yours has to be, what do you do about the smartwatch movement? do you do one project on android wear? do you try to integrate with those? or do you remained a stand-alone compliance trying to focus on one thing is going to let you weigh out in the long term? >> some of these watches cost

$400, $500. our products range $50 to $100. if a screen on your wrist is something you that want, the apple watch is one of the prettiest ones out there. i don't know that everybody wants a screen on their wrist, at least not yet. and we're integrated into a bunch of these watches as well. apple watch, we'll have an app there and other apps on other wearables as well. >> sonny you have notice investors from asia which is a little bit different strategy from some of the wearables focused here in the u.s. i'm wondering what you're seeing there and if the asian consumer has different needs than the western consumer does? >> there are some universal needs, obviously, around a desire to have more convenience and to be healthier. but there are differences, you know. you can't just walk into china or somewhere and translate your app and expect to be accepted. you have to listen to the consumers there. we partner with them to really

get chinese consumers. they really understand what people want there. we're there to listen. >> and, sonny, just with this integration with the smart home, you know, several months ago we talked about the integration with health insurance. i'm wondering how much incremental growth your company will see with each of these new platforms? >> you know, most of the -- we dipped our toes into the water by launching the misfit volts. a smart connected light bulb. we found out most of the people buying volts are in fact not previous misfit wearable users. so i think it's a whole new field. and the key thing there is making the products really easy to use. a lot of the smart home stuff not that easy to use yet. >> certainly an industry, as you say, sonny, in transition. we'll have to have you back soon to discuss. >> it would be great to be back. >> sonny vu is the ceo of misfit

wearables. donald trump has wrapped up his speech and saying he is indeed running for president. he concludeded by saying the american dream is dead. eamon has more on that. >> donald trump's turn on the stock market is be very, very carefully. he said if you elect me president i will make america great again. donald trump running very much against barack obama but in many ways against his primary opposition jeb bush included. donald trump saying he can't get the republican nomination because common core, the educational standard is a disaster. jeb bush supports that. and therefore, he thinks jeb bush can't win. donald trump beginning on foreign policy. not an area that people think is his strong point. going after iraq very hard here saying iraq has turned out the benefit of iran and saudi arabia in the middle east and not the

united states. that's a question that jeb bush has had difficulty answer. some interesting move, donald trump has separated himself from other republicans from running in the very crowded republican field. >> the dnc, eamon, has a statement out saying in part, trump added much needed seriousness which has previously been lacking from the gop field. we look forward to hearing his ideas for the nation. i assume that's the political equivalent of throwing shame? scombll yeah, that's tongue in cheek, to say the left from the dnc. of course they want to hear more. they think this is going to be a big one. >> i assume in some part, look at the attention his first speef has gotten. the gop rivals are going to be forced off message at least in the early days. >> they're going to have to deal with him. the big question is whether they have to deal with him around the debate stage. there are a lot of rules around the primary debates of who gets

included. who doesn't get included. depending on where donald trump polls, he may be able to get on that stage. that's going to be difficult for the other republicans. trump is charismatic, he makes provocative statements. it's going to be difficult for republicans who want to exist more in the world of nuance and public reality than trump does because trump is not an experienced politician. that's something they'll have to handle. >> eamon, i wonder, the impact of someone like donald trump coming into the race for republicans. normally, at a time like this, you'd expect them to be happy to talk about pocketbook issues and get away from perhaps some of the more divisive issues that have alienated the parties from younger brothers in the past. doesn't trump make some of the pocketbook issues a little bit more challenging for them? >> no, trump really makes the pocketbook -- his supporters are heartened by the fact that he's saying he's won $9 billion.

they're heartened by the legacy of his business success. they've all read his books. they think this is a guy who can jump-start the u.s. economy. trump saying i'll be the best president that god ever created. that's going to be his stump, he's a guy that can fix the u.s. economy. whether or not that has broad appeal is going to be decided. if anything, trump being worth $9 billion could inoculate hillary clinton. she's been accused of being too cozy with billionaires herself. >> before we close out for the hour, if you missed it at the beginning of the hour, here is trump announcing his candidacy for president. >> i will be the greatest jobs president that god ever created, i tell you that. i'll bring back our jobs from china, from mexico, from japan, from so many places.

i'll bring back our jobs and i'll bring back our money. >> he certainly got, i would argue, a positive response from traders on the floor here who had that full volume. market coincidentally managed to hang on to highs up 77 points. >> he'll now take that message to iowa, and south carolina. that does it for us, let's get to headquarters, wapner on the half. ♪ guys, thanks so much, welcome to the halftime show. steven weis is with us along with josh brown and pete mcgarrin. beware of google. blowing away the s&p is on the show as