opposi-- invoice and opposite of those intentionings, i always thought one hopes it is not frankly overtime anything. the reality that history will dictate is it probably will be worth and enormous amount at some point because the world typically goes through points of reflexion and financial markets tend to be the tip of the spear on those things i believe that it's a wonderful hedge against every other correlate asset class. >> this has been fun thank you. it's great to see you in person. we appreciate you very much. >> that does it with us. "the exchange" with kelly begins now. >> thank you, scott. hi, everybody, here is what is ahead. the buffet seal of approval. why berkshire is investing billions and will this tip the scales in their favor in the fight for anna darko and apple is on the clock, beyond all the counting of iphones and ipods?

why some are wondering if the next big tech ipo we work can be nothing more than a glorified landlord we begin with today's market, dom chu is back with the markets. >> we were down 135 points believe it or not in the dow jones industrial average you can see we are down about 10 we will call it flat for the day. the s&p 500 off .1 of 1% one stick down by about three-quarters of one percent as well if you take a look at those stock-specific stories, one element is the 8% drop in shares of alphabet, the parent company of google, because we did see, remember, a 33% rise if those shares from the christmas eve lows to the recent highs now a drop of about 8%, meaning it's trading below it's 50-day average price for the first time since mid-january. >> that stock on the down side meanwhile, on the upside, you got a recently beaten down

stock, maybe not recently, long-term beaten up stock getting some life here 3% gains for general electric. these shares, remember, a 15 plus stock it's down from the 52-week highs, but ge shares certainly positivity in the marketplace in an otherwise mediocrely down market kelly, back over to you. >> worst day for alpha bat google parent. thank you very much. welcome to "the exchange," everyone i'm kelly evans. the president is meeting to talk about infrastructure in the past half hour, democrats say they agreed on a $2 billion spending plan. democrats say they will meet in two weeks to discuss paying for the plan we'll have more on this in a moment we begin with a major developing story. massive protests are breaking out in venezuela as the opposition leader juan guaido calls for demonstrations administration members are expressing support for the opposition eamon javers is here

>> reporter: we have not seen the president on camera today. all of the signals from this white house and this administration have been those of support for this action in the streets today. they're not calling it a coup necessarily because the united states recognizes guaido as the legitimate leader of venezuela we've seen tweets from mike pompeo, the secretary of state and the vice president mike pence in support of this action that's taking place in venezuela right now. we also saw a statement from the treasury department looking beyond even some of the events in the streets today, looking at the idea of rebuilding the venezuelan economy the treasury department saying the united states and our partners and allies stand ready to leverage the tools of the until community to help swiftly restart venezuela's economy. of course, that's what it's all about. the frustration and anger about the devastation in their economy over the past several years under the current government the question is, will all this be resolved peacefully

what's the role for the united states and the united states military, if any officials here simply saying all options are on the table >> that refuses to rule out anything, gives them strategic flexible here. no indication that the united states is contemplating anything other than supports of tweets and statements at this point >> i'm sure they hope this works and will resort to other measures, if it doesn't. we want to follow on that infrastructure event $2 trillion is a big headline, saying we will agree work out how to pay for sit a pretty big but. >> reporter: we will do it in three weeks. they agreed on the easy stuff, which is we will push for a big bold plan as nancy pelosi called it we will do $2 trillion it will include broadband, she said the president did not bring up any of the investigations or the subpoenas from the capitol hill team that have gotten him so frustrated over the past couple of days. so all the signals were good

about the progress on an infrastructure package the real hard work, they're not close to doing that. so for now, consider it a good signal, a good beginning then we'll see where we go for those in favor of an infrastructure bill. >> thank you so much now, we are less than 24 hours away from the fed's next decision on interest rates they're expected to hold rates steady at this meeting what about the rest of the year? steve leishman is here with the fed survey. >> yes, it seems the marks may be offsides when it comes to the fed trade. it's important to check this 100% see no rate hike. 2.48 that's the fed fund targets expected this year really no change where it is now, 3.5 trillion of the balance sheet. >> we're in the range of two and a quarter, two-and-a-half? >> really in that range there. the 3-and-a-half pretty much with an expectation of stopping the third quarter.

next year is where it gets interesting, miss evans. >> no rate cut is priced in, in this so far? >> right >> okay. >> even though the fed future funds, not from our respondents. take a look. 33% expect a hike. 11% a cut. 56 performance say it's on hold. so that tells you that the fed's message of being on hold is really taking hold at least from this group here. next year, though, 58% say their going to be a hike what's the matter with these people 33% are looking for a cut. 30% on hold, art hogan, national security writes into the survey, i think one of the biggest surprises to 2019, we will be stabilizing economic growth and a fourth quarter rate hike of the u.s. federal reserve, john donaldson says, the odds of a fed rate cut are well overstated it's no policy action, either a cut or increase, kelly, i think, significantly is more upbeat on the economic i don't think perhaps than your average fixed

income trade market. >> we'll explore this more in a moment and ask you, you asked them about steven moore and how they thought it was he would be approved to the fed board? >> stephen moore is not doing well in our survey i think these are his peers, i don't know 63% say they should not approve steven moore, 28% say they should the reasons are 69% say he's too political. 62% say he's not qualified 50% say personally, people can answer more than one the percentages. >> doing that math. >> you know something's wrong. these are among those who say the senate should not confirm him. 50% say they will confirm him from a political standpoint. tear belief is he should not be confirmed. >> 62% say no? >> yeah. >> all right let's discuss this more. steven moore this morning was on "squawk box," by the way he mentioned personal issues and addressed a lot of the critics and why he's the right choice for the feds

>> you want the biggest selling point for me, it's that i helped the economic agenda together we got the best economy in 20 years and the best for 50 years. that's a good qualification. >> "fast money" trader steve grass so joins me as well. so diane, i'll begin with you. and let's just start with the subject of steven moore. would you support his candidacy to the feds? >> no, i have been pretty outspoken that i wouldn't. one of the reasons why is what we saw this morning is he sees his candidacy won's aed t candiy and campaign and an extension of the agenda that's not the fed's role, it would cross a important line for the federal reserve in terms of being wholly to the bhims of one political ally instead of the economy overall. >> steve, what do you think? because to me, in a way, there is sort of an elegant way to be

political or quietly be political and a more overt way and stephen moore falls in the latter category. >> reporter: yeah. i think we can describe, you know, the political landscape that we've seen, where would president trump fall in that landscape for you, kelly same place that stephen moore is so that's why we are having there discussion right now i think the bigger question is what would the markets say >> right markets, he's been the very vocal person against powell's raising of rates the markets chose to back up that viewpoint i think the markets would like a steven moore on the board. >> that has nothing to do with his personal beliefs or anything else >> i'm curious personally. what do you think about, would he hurt the fed's credibility? we were talking about, yes, the market would prefer someone who likes rate cuts, fine, in the longer term, do you think he

would hurt their credibility being a member of the fed board? >> reporter: so i think the problem with that, i go es the answer would be if it's a, you know, media outcry, of course, it would hurt it because i don't think we dug as deep into anybody else we've never had this, a type of person like a stephen moore. so to diane os poi's point, this been a very outgoing vocal person who have been very political and anything we've ever had someone that's been nominated to the board that has fit this description so it's hard to find an apples to apples opinion. >> okay. >> reporter: so i would fall into that category we've never had a candidate like or let's not call him a candidate, a nominee like stephen moore. >> steve leishman, what do you think? >> i think the fed can abide a single political appointee, maybe two. but the trouble is when you get beyond that, what you are effectively doing is introducing third world volatility into the

most important central bank in the world. we wonder is a dictator or a despot of a third world country. >> hold on, before you throw out despot >> i'm not talking about the president. i'm making an analogy. >> here's my point, we've seen, just because he is more outspoken, this is kind of what i was asking diane, we know other people have been assigned to the fed board, probably with pretty strong political views. it's not to say they will leave them at home. >> yeah, but most of the fed people i know. i have known a lot over the 20 years don't have extremely strong political views to finish the analogy, i don't mean to say this is a third world, what i mean is third world type volatility. you have a dictator. you wonder, will that dictator pressure the central bank to change policy as an inadvisor in that -- investor in that emerging market. if that would happen, you don't believe they would listen to him. you don't believe they are

political appointees if they're finished, full of political appointees, then the market has to worry. >> that they would really listen to the leader in that sense, it would be independent. >> i want to bring you back in and ask you, what kind of difference would it make, for example, if he were signature on the fed today that were deciding interest rates >> first of all, i agree we steve. one vote will not change the fed. he is not going to alone change the fed. >> that is important to remember it sets a really dangerous precedent of appointing people in a much more overt way that are driven by political gains and political short-term gain, rather than long-term economics. this is the old -- >> what about the economy, diane, if steve moore says i have been an insight walls he right in december in the mark came a around to his point of view which was to say we shouldn't be having these hikes. >> the clock changes twice a day. >> he was not right. the economy has rebounded

smartly. the market was wrong about the coming recession we are now in a place we have 3% first quarter growth >> he says they shouldn't have hiked in december. >> right or wrong -- >> let steve talk. >> the only judgment, you can only make judgment on what the market has told us the market sawed off aggressively, when powell raised rates. so the market did not want a rate hike. it cannot bear a right >> steve, that doesn't make the market right about the economy the inherent market forecast was wrong. the inherent the economists were right. the market was wrong >> i will give you the last word here >> the bottom line is, he's really shown us he's willing to change views on his own policy for a political whim he's inconsistent. he doesn't have a consistency there. there is an issue of all this writing and how he perceives the economy and to limit it in terms of sexism, misogyny, those

things are economically undermining the economy and his goals and what he is talking about, what help wants to achieve. >> you are giving us a bombshell. it's hard to egg on that -- thank you all, great discussion. >> it undermines the economy it's not consistent economic policy >> thank you have much and i'll see you again soon. the bidding war for anna darka is heating up as occidental brings in -- warren buffet -- hathaway [ audio froze they approve 40% this year let's go out to the substitute global conference in beverly hills with a special guest brian, first, i'm curious for your thoughts on this twist this morning. >> well you bring up that market board. it's telling a story we see anna darko down,

occidental down. and this reduces the likelihood chevron comes in with a rebid for anadarko yet, look at the price of chevron, going up. maybe the market is say, eh, this might make chevron walk away if you need that silver arrow, this is a steep price to pay i mean, not my opinion you talk too anybody, if you will give out 100,000 preferred shares with an 8% dividend, with a lock-in period of ten years, 8% coupon for buffet buffet you know he's a nice guy, comes on with becky, smiles. he drives a hard bargain, guys, 8%, 100,000 shares for ten years. it's a steep price to pay. it may be what gets occidental over that finish line with anadarko. >> it would seem like it >> it certainly would.

why don't i ask somebody that knows more about it than i do, our next guest 250d, cash flow was up, the price moving up. quickly, would you pay an 8% coupon to warren buffet? >> i would study the credentials, but anadarko is a great set of assets, chevron is a good company, occidental is a good company, there are synergies, i think the assets would be good for either company. >> does it happen the industry that warren buff set suddenly interested >> a few years ago, he was not involved at all. obviously he's taken a different turn energy demand is up, the world needs energy there will be cycles it seems like he's got his attention again. >> you integrated last year's deal, will you bid for anadarko? >> no we got our plate full. it's the biggest acquisition we

have done if 20 years. wee have taken over the operations the 1st of march. so i think we're fine, fought in the hunt but this doesn't surprise me, we're starting to see some life consolidation in the program >> the question is, okay, so you are not bidding for anadarko we got one i have a few more to ask the u.s. this spark a big wave of deal making or do you believe anadarko is a one off situation? the management team wanted to ride off into the sun set? >> i don't know if that's why, they clearly saw they could get good value if you look across the permian did you ever see the permian maps it's a checker board companies have many in many places i fully expect those to be rationalized, the swaps purchased going forward over the next few years. >> more deal making? >> i think more deal making or swapping to make that a little more efficient out there >> i have this land. you have that land, let's, and

my trucks are here, your trucks are there? let's do a deal? >> mine are in between >> but what's interesting about your company, you went offshore with a vhp deal, largely, there are other assets, largely offshore everybody else seems to be streaming into west texas. is it getting too hot? too expensive? the valuations out of control in the permian, you clearly appear to have a different strategy. >> we do we have continued to remain offshore, deep water we're the largest producer in the gulf of mexico that's our largest barrels in the world. we have offshore in uk, africa, places but we have a very big on shore business in the united states. it was about a 90% natural gas so what we want to do is take that great management team and put them on liquids. >> i know kelly has a question as well. >> brian, thanks mr. dudley, appreciate it. i want to ask you a simple question about the oil price are you surprised it's run up this year and do you think that's sustainable >> well, if you think back until

summer last year, opec started producing more and the threat of the sanctions on iran drove it up on 85% oil. the waivers went down to 50. now the u.s. is saying they're going to keep, take away those waivers again and that's, the oil price is clearly drifting up because of that because of venezuela. libya's got issues so it doesn't surprise me right now. i think the key is will the u.s. at the last minute give some more waivers or not? if they don't, i think the price we can see it up or down. >> iran said they will defy the export ban it seems like they are coming to a head we'll see how it happens if we are successful as they say reducing the exports to zero does the price jump another ten bucks or sit already in the market >> i think saudi arabia can increase its production somewhat the permian is not ready the pipelines are not ready to come out yet these sanctions are more than the country dropping to zero a lot of unintended consequence

and sanctions. my charter ships the insurance behind the ships the partners there very complicated very risky for people to move oil around counter to what the sanctions are. >> are you the most global of companies, the longest tenured ceo. we appreciate your global view and insight, bob, always, a good quarter. cash flow is up. thank you for joining us we appreciate it kelly, back to you. >> thank you, our thanks to bob dudley as well. here's what else is coming up today on "the exchange. ahead, apple on deck with earnings, what investors are hoping to hear today to keep the rally going. plus, mark zuckerberg takes the stage to talk privacy. how does he plan to shift facebook's service and we work joins the ipo pipeline, why it could be the most controversial ipo yet

>> announcer: this is "the exchange" on cnbc.

here's one you guys will like. show me making it. oh! i got one. the best of amy poehler. amy, maybe we could use the voice remote to search for something that you're not in. show me parks and rec. from netflix to prime video to live tv, xfinity lets you find your favorites with the emmy award-winning x1 voice remote. show me the best of amy poehler, again. this time around... now that's simple, easy, awesome. experience the entertainment you love on x1. access netflix, prime video, youtube and more, all with the sound of your voice. click, call or visit a store today. . welcome back to "the exchange" apple is up, it's up 27% year-to-date after google's results, investors might be nervous josh is live in cupertino, california what is the street looking for >> so, right, we are here at

apple headquarters in cupertino, some of thethemes investors will focus on, one will be the iphone franchise remember, of course, apple's no longer going to break out the iphone units they will, though, break out iphone revenue the bogey there for this quarter is $31 billion >> that would be a sharp drop. about 18% from a year ago period you know, tim cook talked about some of the challenges feisty facing the iphone franchise, including china, though interestingly, remember, execs did say during q1 earnings that trends continued in china in november remember apple took certain steps in china, early this year in january, they did adjust iphone prices there due to fq changes, try to -- fx changes, try to bring them down to where they were a year ago did that have impact

as iphone comes under pressure, clearly, there have been focus on services, apple store, apple music. there, in fact, not too long ago at the steve jobs heater, appl unveiled news services, news, video, game. some analysts are skeptical. they say that desell rates, pretty significantly over the next few quarters because of tough comps in licensing and the app store. of course, there is capital return this is the quarter when you would expect them to update that capital return program >> you are talking about buy backs, dividends do you know what the expectations are there >>. >> reporter: last year apple increased the buybacks by 100 billion. they hiked the dividend by 16% we'll see what they do this year morgan stanley and her team are betting that apple increases the buyback by at least $15 billion and hikes the defend by 10%. >> that's a lot of bars to

clear. josh thanks very much we look forward to those results auto after the bell. josh lipton. meanwhile, mark zuckerberg has taken the stage at his conference his plans for sharing your privacy coming up. shares on pfizer, better than the quarterly results, where the new ceo sees the new growth, it's coming up in rapid fire don't go anywhere. ♪ memories. what we deliver by delivering. you get the freedom of what a 7-day return policy. this isn't some dealership test drive around the block.

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welcome back to "the exchange." here are some of the movers this hour mgm is falling the company boot on reat on rev, down from 38 cents a year ago. the shares are down nearly 6%. how about just gm, general motors, profits fell 11% in the first quarter. the results were driven down and a plan of suvs in the u.s., down 2%, still in contrast with ford's nice response earlier and ck technology is leave terwillegar a 7% gain. the memory chip maker with estimates its costs per share beat cost control. now over to courtney reagan. >> here's what's happening at this hour, venezuelan security forces firing tear glass at juan guaido as he gathered men in uniform outside occua occur ka*-

/* a caracas avenue. focusing on the 2020 census, at issue, whether it can include a question about u.s. citizenship. >> on top of funding issues associated with the census, this administration's decision to include the citizenship question is highly offensive and as multiple federal courts have held unconstitutional. more americans are drinking highly caffeinated deferages, harvard studying data. found consumption increasing across all age groups. high caffeine intake could lead to increased risk for depression and blood pressure that's the cnbc news update at this hour. >> i can't do those drinks courtney, thanks,. here's what's still out on

"the exchange.". coming up, alphabet's big mess mcdonald's is bringing home the bacon. does nfl nd etixeenew ads? it's all coming up on "rapid fire." could you hand me those files?

yeah, of course. what is going on guys? oh hey, servicenow frees us up to do the work we want to do. so we're digging out from all the work we don't want to do. ugh, getting rid of so much paperwork. oh, doug. i didn't know you still worked here. i called for help but no one came. [ laughing ] classic doug. okay, carry on. yup. can you call my wife? thanks. servicenow. works for you. today, life-changing technology from abbott is helping hunt them down at their source. because the faster we can identify new viruses, the faster we can get to stopping them.

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welcome back let's catch you up on stories that should be on your radar it's time for today's "rapid fire." here we have kate rogers, domenic chu and meg -- mcdonald's is out with impressive results, exceeding expectations on the top and bottom line. they handily beat estimates, same store sales, there you go estimate and drum roll, please -- they say it was fueled by the bacon promotion which i poo pooed for a sign of desperation, does desperate work, kate? >> apparently, i don't know we would call it desperate. they're your take. we are two years into the velocity growth plan, that includes digital delivery and those are the modernized restaurants with kiosks, different technologies put in place in about 8,000 stores in the u.s., the ceo said that had

a nice lift for u.s. comps, they were up 4.5%, surpassing estimates. but they are doing changes to the menu they have two for five deals they had the bacon event and are doing donut sticks they're sliming down the menu. doing things to add customers in. >> my figure, you can tell, i took advantage of all of those promotions, i tried the bacon fries, which i thought were pretty good. i did the two for five things, especially during leapt, it was the two filet on friday. i did all of these things, ki tell you i went there more than i thought i would. >> was it a modernized one >> mine was, my other in town five miles away is in the process of becoming a modernized one. i'm bummed, i can't go there anymore, it's under construction >> i was going to ask you about a bad drive through as well. >> i tried to go to mcdonald's

twice over the weekend, i'm embarrassed to do that. >> don't feel so bad, i do it all the time >> were you doing something terrific >> we were coming back from a road trip. the first was demolished, the redesign i went to wendy's instead. >> on the drive through they made the dynamic deal acquisition, that will be the machine learning technology that is supposed to get you through and target you with certain ads things you may like based on past orders. so they talked about enhancing the driver's experience and gettinging in and out of the store. >> i think desperate works >> it worked, i tried it next up, investors had more for parent company alphabet. it reported a rare revenue miss it's seeing decelerating growth. the shares of 1.2 were having the worst day ever. >> with the google/alphabet

report today, there will be emphasis that revenue growth is there, it's robust it's not what it used to be. for a company this size, maybe it's not unexpected. what i was keying in on is any kind of clarity in terms of the cloud computing ambitions. because we have spoken so much about amazon web service, we know ibm is a big player there >> right >> we know amazon, ibm, sales force. google to ramp this whole thing up. this idea that google is trying to make inroads there in a place that dominated by microsoft azure and aws and ibm and there may be fourth place, fifth place, salesforce.com. that's what i was looking for. there you might be seeing those seeds develop into something bigger down the line. >> that's the good kind of miss. the bad kind of miss is oh, hey, youtube's model is different now, we don't want to auto roll back the video. >> that may be a change that

users would welcome, though it would potentially hit the stocks. >> you hear these terrible youtube videos >> acquisitions. >> yeah. >> is it amazon taking any share of car google? that's what i wonder we talk how that's the first place, it's true for me, looking for something, if they're funneling ad dollars that way. >> digital tidesing, we say there is google/youtube, videos. aws is amazon's big thing, maybe advertising is that next leg >> let's talk about netflix and their future at an industry event, streaming executives said they will have no choice. netflix said it will not do. i believe it would alien fate consumers. look at youtube, they have ads all the time people use it more than ever. >> huh will you has ads. we watch that all the time i don't' see that big a difference, yes, there is no ads

on netflix if there is a show i want i will watch it. >> i think if they are pumping this money into original content. the content they are putting out is great i watched the beyonce documentary, it was amazing. i wouldn't mind if there were ads in there i would sit through it >> do you hear what you are saying you are asking them to give you ads on netflix. >> my thing is i'm very numbers oriented with this if as a consumer it would hold my costs down or prevent me from having bigger price increases down the line we know content costs a lot of money. you can say, if you want to put a few ads in there, i'm okay with it if it will economically benefit me and i have to sit through a couple 30 second ads >> it's on everything. >> it is, which maybe it makes netflix nice, the one place you don't get it for long. >> hbo >> hbo as well finally, fiez early, the

pharma company, meg spoke with the ceo. 27% gain a small revenue mover for them. >> what's interesting is there is two drug prices going on, on the hill medicare for all that pressure pricing from the government and the election cycle is all putting into depressed drug stocks, pfizer having a thought today. we talked about drug pricing, he says volume will drive their growth they had a 3% decline in u.s. net prices in the quarter. they are emphasizeinger that not hearing a decline like that, we are hearing a change in tune, perhaps hoping they can do enough themselves so if the government won't come in >> it's key, though, right you are talking about operating an industry within an administration at the executive level that is going after drug prices overtly >> at the same time if you look one will level down, the hhs secretary is coming from pharma. the messaging is not on point

there. >> i seen drug prices specifically does not show huge increases, some shows, again, i guess it depends on how you tab late it, are -- tabulate it. the earlier pressure, ceos, we talked to on power lunch have said we can't do it anymore if the environment isn't there for it. >> that's true, the pfizer ceo on the phone today made the point consumers patience at the pharmacy counter into evidence to feel the pain. >> have you high deductibles, whatever ends up happening on the, real quick. are you hearing anything in terms of the rebate surface that was the big issues, this is how we will bring prices down. >> they will focus on it we haven't seen when or how that will come into play. the pharma industry is hoping that happens. >> they are? it will take the pressure off them >> off the consumer. >> it will hit them at the end of the day >> that rebate they're not

getting anyway, if it go es to consumers, the patients are playing less for the drugs >> like you said impressive they're up on a medicare for all hearing date thank you all. appreciate it. kate rogers, domenic chu and mech terrell as we talk often around here pets are big business, it's not just treats and food or toys, they are spending on petanr cce treatments, we will take a look at one of the latest innovations after this e ringing] you still have service? call the insurance company it's them, calling us. it's going to be a week before they can get through on these roads shhh, sorry, i didn't catch that. i said ask how soon they can be here not you. right now? what's now? he says they're surveying our property now they're probably at the wrong house i don't see any hovering his name is hovering? look up? by using machine learning and analytics to automate claims, cognizant is helping insurance companies advance

how they serve even the hardest-to-reach customers. cool ♪ feel that? that's the beat of global markets, the rhythm of the world.

but to us, it's the pace of tomorrow. with ingenuity, technologies, and markets expertise we create the possible. and when you do that, you don't chase the pace of tomorrow. you set it. nasdaq. rewrite tomorrow. one in three dogs will get cancer and while doctors have had great success treating people, the consulting edge science is now moving into the vet's office cnbc frank holland has a look at how we can extend the life of pets >> lulu lost a leg to cancer, not her spirit >> there is so much about her that is resilient. when things are down, she just goes right on. >> reporter: the amputation

happened after the 11-year-old maltipu was dying notioned with an aggressive cancer with high professional to spread and occur. her family turned to fido cure, it uses dream mapping using human cancer drugs lulu's vet said it led her to a different treatment plan than she would have used. >> i am able to say, these are the drugs that will be effective and here's the way i would start doing this >> so the understanding of k-9 cancer is still quite thin compared to human. >> reporter: dr. christina lopez is the co-founder of one health. she says fido care costs about the same as chemo therapy. it changes on the patient and the cancer >> we go a genome. we understand the tumor that's driving that dog's cancer.

we come from the principles, the scientific principle that every cancer is unique >> lulu is in remission now. ap relief for her family >> i like to think of her as well cared for i mean she's loved >> and frank holland joins me now. there is no limit to what people will spend, frank. in this sense, at least it's driving innovation. >> innovation. there is need. humans, dogs, they get cancer at just about the same rate unlike people that generally go to the doctor, dogs cover up their symptoms and the vet we spoke with says this kind of precision medicine can make a difference when it comes to advanced stages of cancer, often it's not discovered in dogs until it is advanced. >> are these treatments covered by pet insurance >> reporter: company one health wouldn't give us all the specifics, the vets say it's generally in line with chemo

therapy. although, chemo therapy could be a part of this solution. mark zuckerberg laying out his position the changing face of the social media giant and its future plans for data sharing we will tell you about all of that next. >> here's one you guys will like.

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welcome back to "the exchange." facebook ceo mark zuckerberg just wrapped up his keynote address ae or updates, he begany addressing the elephant in the room >> i know that we don't exactly have the strongest reputation on privacy right now to put it lightly. but i'm committed to doing this well and to starting a new chapter for our product. >> what does that new chapter look like? let's bring in taylor loren, covering technology and then staff writer for the "washington post" with tech policy and julia boorstin out there at the conference julia, what were the announcements after that prelude? >> reporter: well, kelly, mark zuckerberg said the future of facebook is private. he made a number of announcements talking about shifting the company's apps to

focus more on private messaging and specifically, communication between small groups and close friends. facebook, they're totally redesigning the facebook app they'll start to roll it out today with more of a focus on group communication, stories, less of a focus on the news feed they're redesigning the messenger platform saying that's really going to be the centerpiece, the new privacy focused social communication and interestingly, sort of make that the hub and bring stories from instagram and updates from facebook from your close friends into that as well. trying to make it more inclusive, just from your close friends and then e-commerce, we heard a number of comments about how the company will make it easier to shop without having to go through extra steps so you'll buy directly from influencers on instagram and bringing more business tools into what's app as well as tools for businesses into messenger. so interestingly, etsy shares dipped on some of these

announcements. >> we'll look at that, julia taylor, i want you to ask about this instagram feature making easier for users to shop directly from their app. this is a long time coming what do you think in practice? >> this is going to be huge. instagram rolled out shopping for brands already, so you could shop on, you know, say the nike instagram page but that's not really how people discover products they follow people that they like who recommend things. so this is going to be a huge boon for influencer marketing. >> can you imagine people make enough money as quote unquote influencers already and now directly able to drive revenue, their value will skyrocket. >> they can show the brands, like, look, i delivered this many sales pay me x amount as a brand ambassador or easily take it away. >> let's talk boring for a second boring but important namely, they told us, facebook, that is, $3 billion, upwards of $5 billion, potentially facing in terms of an ftc fine.

do these, the emphasis on help them with the pr effort to say, we are changing as a company, we won't repeat this into the past? >> this is the doom and gloom portion of the conversation where zuckerberg isn't just speaking to people who want to sell goods on instagram or to users of this newly redesigned facebook app but talking to shareholders and he's talking to regulators who increasingly want to take a look at companies like facebook and restrict the ways they collect and use users' data and we're talking at a time when the federal trade commission is actively investigating facebook for privacy mitt happshaps and multibillion dollar fine from the government with additional penalties targeting zuckerberg specifically or the way facebook uses user data this is about trying to convey to policy makers in washington that facebook is finally learned from what they're saying and actually means business when it comes to privacy but lawmakers

said before they simply don't buy zuckerberg's commitments. >> you can do one thing to signal to regulators, this is how we're changing but for users, do you think they'll respond well to these efforts to drive people on to the facebook messaging platform >> facebook already sort of shoved this messaging platform down our app you have to go to the app to check your messages on mobile. it's interesting how they're integrating these products we've seen instagram taking from facebook and now more synergy between those two platforms. >> julia, same question for you because they already have what's app and kind of trying to create a clone of it. >> reporter: zuckerberg just said on stage, what's app has always been good at encrypted messaging and now trying to bring that same encryption from what's app to messenger, guaranteeing they'll be encrypted by default but more tools for businesses into what's

app and more ways to make messaging between businesses and consumers more valuable to sort of drive new revenue streams there. one thing we hear from analysts coming into this, we know platforms like messenger and instagram and what's app have significant scale but what people want to see is to make money from the platforms even with the new layers of privacy which could theoretically limit the targeting of apps. >> thank you all, appreciate it. tony romm, julia boorstin, taylor lorenz. one of the latest unicorns to go public but could be controversial given losses bigger than uber we'll talk about the risks facing weworth after this. 401(k)? where do i start? empower yourself with the free tools and resources on investor.gov. before you invest, investor.gov. on investor.gov. through the at&t network, edge-to-edge intelligence gives you the power to see every corner of your growing business.

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weworks apparent company filing for an ipo making it the latest in the 2019 raid. on squawk box this morning, wework genius in a way but some risk in the balance sheet. >> growing so fast, losing a lot of money, straight line or non-straight line accounting

his access to capital, $5 billion of cash lying around and better find a way to finance yourself if you're going to grow at that pace. >> bringing in deirdre bosa, sounds like he's saying to the public, beware, they're coming to you for dough >> reporter: that's right. this could be another way for wework to go out and get more capital. as just said, earned nearly $2 billion last year so they may need to look for capital soon even though they have some $6 billion on the balance sheet but kelly, i think one of the points we have to talk about, we talk about wework, how many customers it's now getting on the enterprise side of things and this is maybe the bull case for the company. a third now makes up enterprise membership so these are longer contracts. this is recurring revenue. and this may help the company weather a downturn a little bit better but increasingly becoming an important part of wework's story. >> explains why in london.

longer term office contracts there. places like china, maybe not so much deirdre, thank you deirdre bosa following the listing for us that does it for "the exchange." that's it for me joining "power lunch" with tyler and melissa which begins right now. >> it sure does. new this day at 2:00, apple earnings rallying more than 40% from its low in january. we'll tell you three big things investors like you need to watch on this stock. plus, warren buffett making a $10 billion bet on the takeover battle in big oil. what's fueling it and should you follow buffet's moves here and taking on the valley in tech from miami, mr. 305. mr. worldwide pit bull joins us live and stocks under pressure this hour but the dow well off the triple digit lows as you see there. "power lunch" starts right now