herb a life and his contributors are distributors of products and losing thousands of dollars. [closing bell ringing] we have microsoft and starbucks all reporting in this hour. charlie gasparino with his talk with carl icahn, what the next move will be with herbalife. very interesting comments from apple from carl icahn. talking about herbalife, it has improved through the day. it was down as much as 16%. all indices are down. we have over 1% decline in the dow. the dow has been hit harder than the s&p over the past couple weeks that trend is continuing. s&p not having a good day at all down .87%. again it was the dow that was hit hardest today. that is on par what is happening in 2014 so far. nasdaq not hit quite as hard but russell 2000, 3/4 after percentage point.

very busy hour including earnings. "countdown to the closing bell" starts right you -- "after the bell" starts right now. david: we have a jam-packed hour. we're set to hear earnings from two industry leaders. tech giant microsoft, will it name a new ceo. steve ballmer is leaving and they still don't have a replacement. starbucks, how has it been hit particularly since the malls have been hit. brock and mortar are down a lot. a lot of starbucks are in the brick and mortars. we'll talk about the numbers when the company comes out. speaking of industry leaders. day two of the world economic forum in davos, switzerland. liz got to talk to fortune 500 titans. who are they, liz? liz: if davos is most international event gathering of world leaders, coming this hour we have two of the most international ceos. we have mukhtar kent, chairman and ceo of coca-cola and bob

greifeld, ceo of nasdaq omx. they never stop traveling and try to make their business stronger. two davos leaders coming up. david: we'll look forward to that liz. on a day when the dow was down over a full percentage point. kim forest, fort pitt capital vice president, senior equity strategist who says volatility in the market, we, get used to it. after all it ain't such a bad thing. she will tell us how to play it. lair very shover, sfg alternative chief investment officer in the pits of cme. larry, i want to start with you. what spooked the market? >> it is clear china's pmi miss drove the market narrative today. let's be fair, the street was building that in. realized there would be softening, that we had small beats out of pmis in france and germany. we had a good gdp number out of spain and u.s. had good existing

home sales number. we haven't had a good home number in quite a while. david, it was a lot of consolidation and digestion. people making excuses why the market is moving. we're waiting for the next thing to drive us one way or the other. david: china certainly drove us. kim you say very interesting, the market's reaction to china's numbers are a good thing. explain. >> sure. unlike lags last year where the market went up last year as investor i like, i get it. i want my account to have more money tomorrow than it does today but as a stock-picker i really like when markets react to new information in at least the correct direction, if not magnitude. they will miss on one of those two, right? so, seeing them react to earnings announcements and things like the pmi miss in china, those are very encouraging for me because markets are reacting like markets are supposed to be reacting. david: is this kind of

volatility that we've seen so far in 2014, particularly days like today, do we have to get used to that? is that going to be sort of the hallmark of 2014, kim? >> i think so. last year was a very flat year. i mean the market went up, up, up and up. which again, if you're looking at your statement at the end of the month you like but if you're trying to buy stocks at a reasonable value, that, it is not a great market for you. so i think that 2014 with the taper actually occurring and investors processing that information. people have got to get used to the regular amount of volatility that's in the market. david: by the way, we are processing information coming out of microsoft. figures just coming out of microsoft right now, after-hours. the stock is trading up. it ended the day at $36.06. it is now at $37. that is bid after-hours, dennis kneale. how do the numbers look? >> numbers look good for upside

surprise of a big and old tech company. wall street was looking for 68 cents per share, instead comes up 78 cents. it grows instead of shrinking 10%. revenue better than expected. the street wanted revenue to climb from 2.68 billion. it comes in 24.52 billion. almost additional $100 million more. we're looking for details on key pressure points in the company. what happened to pc sales? fell 20% in the quart because pc was not stoked by windows 8 a lot of people don't like. what happened with business software sale? business software is up 10% that would be surprise good. we want xbox one sales. and the surface is troublesome tablet to the keyboard. they're hoping for better results in second release. microsoft get as lot of stuff wrong at first and eventually gets it right. david: a booed point. last quarter they sold 900,000

of the surface tablets. this quarter they expect 1.4 million units sold. so that's good news so far, lair very shover, what etf been hearing from microsoft. we hear reflected in after-hours numbers. one stock we haven't mentioned was nokia. nokia hand-sets very disappointing particularly in light of competition with apple. of course microsoft bought into that. that may be an albatross they have to live with, right? >> yeah. it could be. look at the performance of microsoft the last quarter. basically has done nothing. so many, so many unanswered questions. the acquisition of nokia. that is definitely one of them. something that really concerns investors. but they're also worried about the xbox one performance versus sony playstation 4. the mention that dennis brought up about the surface tablet and holiday sales. not to mention the ceo. so many questions. a great company but not doing a whole lot of anything.

a lot of questions have to be answered first before i would invest in microsoft. david: keith, i want to tell the director to keep the microsoft numbers on there i want to go to kim to talk about another stock as well. let's just talk about intel. sort of in the same spot that microsoft is. intel and microsoft have relied so heavily on pcs, but pcs have gone down so much. is that a quickly, kim? >> it has been a problem but i don't think so. i think both of these companies were extremely late to the mobile party and and i think we're going to see encouraging things in 2014. david: i wanted you to hurry up because we have the starbucks numbers. we'll get back to microsoft, see how that's doing. jo ling kent has been following those numbers of starbucks. a lot of concern there with starbucks and indeed after-hours the stock is trading down. jo, what do the numbers look like? >> stocks are down 1 1/2% right now, dave. taking a look at numbers eps came in at 71 cents a share.

that is beat on the 69 cents the street was estimating. revenue came in 4.2 billion which is a miss on the 4.29 billion. taking a look at same-store sales, american sales were up 5%. they were expecting mid-single digits so that is pretty much in line. taking a look at global same-store sales. that is 5% up. that is a miss on 5.7% analysts were expecting. in terse of back to the domestic sales traffic was up 4%. looking at outlook for this quarter, 54 to 55 cents per share is the outlook for this quarter. the estimate though was 56 cents. so that is a lowering. it is not beating the expectations there. again stock down more than 1% in after-hours, dave. david: larry, i got to tell you, i'm a little impressed by the u.ss sales because need two things going against it. one, the weather. a lot of malls have seen very light traffic because of the weather. of course also internet sales. a lot of people not going to the malls because of internet sales.

they rely so heavily on the sales from the starbucks that are in the malls, i thought that they would be hit harder by that. apparently not so. >> yeah. i'm surprised with you on that one thing about starbucks, i love the company in general but they have relied on what have you done for me lately. whether putting starbucks in supermarkets. whether expanding overseas which they continue to do they have to beat the best expectations for the stock going forward. revenue growth is good but profit margin continues to shrink and hold. their net margins are shrinking. they have to build themselves exponentially for the stock to continue to be the stock it was even a year ago. david: let's go back, director we'll go back to microsoft. dennis has been looking through those numbers a little more carefully. what have you seen, dennis? >> a couple of other upsides. device hardware sales may include the surface. i can't find a unit number.

revenue up from year ago quarter. now 4.7 billion. that could also include xbox. xbox one 3.9 million sales in the quarter. three million by christmas they thought. that looks like a nice pop. 3.5 millio 360s, older product around the world also sold. that is nice number of 7.4 million xboxs combined. bing search, remember the bing search engine goes from zero up against google, bing share rises to 18.2%, that is no slouch against google. ad revenue search on bing up 34%, dave. david: as you see the stock is trading 4.5% to the upside after-hours. go ahead, dennis. >> that stock was up 44% in 2013. i just checked it. another 4% on top of that, not bad. david: not bad at all.

kim forest let's go back to talk about china. boeing and honeywell depend on world economic growth. we've seen the china slow down. are you still sticking with these companies? >> we are, not only is it china which is a big part of the emerging world and emerging world getting richer and wanting to travel either in country or other places around the world but it is also a matter of the new planes are very energy, you know, they sip oil as opposed to burning a whole bunch of oil. so we like that for the developed world to be part of the story as well. and i don't think you should ignore that part of the story because the developed world still buys planes. david: kim forest, great to see you, kim. thanks very much for rolling with the punches. a lot of fast information flowing seriously, from fort pitt capital. of course, larry shover, nice to see you my friend.

appreciate it. >> thank you. david: shares gaining more than double the s&p 500 but falling earnings, the company gave guidance that disappointed wall street. that is why the stock was down. the ceo is coming here to make his case to investors on why the rally can continue. also, herbalife's stock sinking today 10% as the war over the company gets political. now there is a massachusetts senator jumping in the mix. what does he want? charlie gasparino talking to activist tore and herbalife supporter, carl icahn. tweet us your thoughts at fbn. is herbalife a solid company or is it a pyramid scheme? that is what the senator is saying it is. do you agree or disagree? your answers later this hour. ♪ [ male announcer ] what if a small company

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dozens of tax free zones all across the state. move here, expand here, or start a new business here and pay no taxes for ten years... we're new york. if there's something that creates more jobs, and ows more businesses... we're open to it. start a tax-free business at startup-ny.com. but with less ergy, moodiness, i had to do something. i saw mdoctor. a blood test showed it was low testosterone, not age. we talked about axiron the onlynderarm low t treaent that can restore t vels to normal in about two weeks in most men. axiron is not for use in women or anyone younger than 18 or men with prostate or breast cancer. women, especlly those who are or who may become pregnant, and children shouldavoid t where axirons applied as unexpected signs of puberty in children or changes in body hair or incased acne in women may occur. report these symptoms to your doctor. tell your doctorbout all medical conditions and medications. serious side effects could include increased sk of prostate cancer,

worsening prostate symptoms, decreased sperm count, ankle, feet or body swelling, enlarged or painful breasts, problems breatng while sleeping and blood clots in the legs. common side effects include skin redness or irritation where applied, increased red blood cell count, common side effects include skin redness headache, diarrhea, vomiting, and increase in psa. ask your doctor about axiron. david: unlike microsoft, starbucks shares are falling slightly in after-hour trading. let's head back to nicole petallides on the floor of the new york stock exchange. what's the trouble? >> it is interesting as you take a look here. we saw global same-store sales on the rise. they will face costs as they open new stores, about 1500 new stores in 2014. here's a look at revenue, 4.24, versus estimate of 4.29 billion. so a little light on the revenue numbers. their earnings per share did beat. came in at 71 cents versus analyst estimates of 69 cents.

as we noted we watched the bid-ask moving around. closing value of 73.39. it was slightly lower. looks like gaining a little bit of momentum as i noted. they will open 1500 new stores. they saw global same-store sales traffic up about, same store traffic up 4%. same-store sales up 5%. up arrows. as you a good thing in either of those, dave, you know that well. they also talked about online sales during the holiday season, much like many brick and mortars. david: you were talking the stock up. stock is up slightly after hours. that is good thing. nicole, thank you very much. we will see you tomorrow. sandisk reported last night. beat analyst estimates on both top and bottom lines. that is food news but the stock ended up lower today on weaker-than-expected guidance. it is up 50% for the 12-month

year. here to make the case for investors why sandisk has more room to run is the ceo. he also helped cofound the company back in 19 eight -- 1988. it is your baby. congratulations for all the success in 2013 t really took off. your cfo, judy bruner warned yesterday about weaker chip prices. did she make her case too convincingly for the market? >> thanks, dave, for having me on the show. regarding 2014 we provided strong guidance that showed solid top-line growth and solid operating margin in range of 26 to 30% which is frankly tough to find in the technology sector. of course our focus is to grow the top line and the bottom line. regarding the prices in 2014 time frame, you know our margins are at very high level and we think in the flash industry in order to continue to grow the

applications of flash, as long as the price declines are in line with cost declines, that's healthy. our price declines on full year-over-year basis is 0.7%. that is unprecedented in the history of flash and certainly in our results as well. so i think the guidance we provided for 2014 is very solid pointing to really our business model becoming consistently stable, predictable and really leveraging the value add solutions such as enterprise ssd that are growing in our portfolio. david: well the cheaper disk prices are great news for the consumer by the way. we'll see more of moore's law in effect. prices will come down again but again how much of that will cut into your profit and is that a concern? do you think you will still have the same growth of the stock because of that? >> actually the guidance we provided for 2014 really bakes into our estimation that industry demand and supply fundamentals will be healthy.

we will continue to drive towards aamix of full solutions such as flash and enterprise ssds. david: ssd, hold on a second, for our viewers sake, let me translate some of what you just said. solid state drives. you make the little chips but you also put them together in these package that is can be used in devices called solid state drives. did i describe it well? if not correct me. how will this affect business going forward? >> actually in 2014, solid sate drives became 19% of our total revenue. what we expect this year in 2014, it will become 25% or so of our total revenue. solid state drives, really give us the act to drive greater value, higher margins in our products and if you look at solid state drives in data centers for example, flash is being constructive, solid state

drives are used to access to data for mission critical applications such as high frequency trading on wall street or storage of date that that needs to be accessed in hyper scale data centers. flash is growing there. this is a growth factor. this tends to be higher margin business for us especially in enterprise storage and sandisk through its innovation and product leadership and engagements is really driving growth of ss. ds in enterprise as well as inline computing. david: sanjay, what our audience may not know in addition to helping cofound the company you're also an inventor. you have 70 patents to your name. congratulations on that. what do you see on the drawing board? is 2014 a very exciting year for innovations and computers that may sort of drive people back to pcs? >> 2014 will certainly continue to be an exciting year like the years past and certainly a lot

of innovation happening. happening in your portable, ultrathin kind of devices. tablets leading toward productivity usages even in enterprise, usage of notebook computers, using solid state drives, increasing not only among consumers but among businesses as well. flash certainly taking enterprise storage from fortune 1000 companies to hyper skilled data centers to the next level of portion there. 2014 will mark another year of solid innovations in the industry. david: sanjay, thank you very much for coming on. congratulations with all your success. appreciate it. sandisk cofounder and ceo. good to see you. 200 ceos are at the world economic forum in switzerland. liz in davos will talk to the chairman and ceo of a company that has one of the most recognizable names on the planet, still after all these years. liz? liz: david, you would absolutely love this place.

it is crawling with capitalists and all kinds of helicopters overhead but it is also filled with business leaders who are trying to solve the world's biggest problems. let's throw this one at them. global youth unemployment which is at the highest level since they began taking records. guess what? there is a ceo who wants to tackle it. coca-cola chairman and ceo mukhtar kent says he wants to try. mukhtar kent's best idea coming up. ♪ tte or au lait?

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david: with more than 3500 products and more than 200

countries odds are you drink coca-cola in some form. with such a big global footprint the company has a great view of the world economy. we head back to davos, switzerland, where liz had a chance to speak with mukhtar kent, the company chairman and ceo. liz: my next guest's company facebook page has 57 million likes. who do you think that is? come on guess. it is coca-cola. we're here with coke's chairman, president and ceo mukhtar kent. do you facebook? >> i don't but i'm really proud that we do have now, we've gone past the 57 million mark on facebook. liz: let's get to the united states. boy a lot has changed since you and i spoke at the london olympics. we have a president who was reelected. we have all kinds of tax changes. the payroll tax cut has been eliminated. we got through one part of the fiscal cliff. we're looking at debt ceiling. which one of those to you, as a

business leader matters the most, affects business the most? >> i think, what matters the most is providing clarity. clarity to business. clarity to the country at large. and that's what people want. every time there's a survey you see that they want clarity. and, that's why i think that it is so important to have a solution to the fiscal -- liz: you have clarity on the fact that people have the payroll tax back into their paychecks. >> sure. david: are. liz: are you seeing any effect where people have less money their pockets and maybe not buying coca-colas? >> i think generally speaking we still see great opportunities in the united states for our business in the coming decade and continuing on from there. we haven't seen an impact yet. it is too early to tell. i would say if we can have a solution which i believe we

will, for the fiscal reform. if we can have a solution in the united states for tax reform, to get a 21st century tax policy in place we all can be proud of, if we can get immigration reform in place. if we can also, start having a solution for our infrastructure. infrastructure reform. i believe the united states will, the future is so bright for the united states. and i always say never get bense the united states. some of the best innovation comes from the united states. the population is youngest western population in the world for any western economy. it is the most diverse of any western economy. and it is diversity brings the best ideas, the fusion of cultures and diversity of the population, is what brings the best and most creative innovative, thinking going forward. liz: but we need the fertile ground for that. do you feel president obama heading into the next four years has become more

business-friendly, neutral, less? >> i would say i have great hopes that the next four years are going to be better and good four years for the united states. liz: have you met with the president lately? >> i have recently. i have been invited to go to the white hhuse. liz: what did you talk about? >> we talked about many so of the things that i just said to you, which is i do believe if we can find solutions to some of the pressing issues like i've just mentioned, fiscal reform, tax reform, then i do believe that because of our vibrancy in the united states, because of the way we actually, as people, look at the future, with more optimism, than other nations, and because we, i believe have more courage to invest into the future, and take our destiny into your own hands, i do believe that the future is bright. but we do have to solve some of these issues to provide more

clarity going forward. liz: there is a shift particularly toward your business and what you do. there is decline in consumption of sugary sodas over the past decade at least in the united states. you have certain leaders, president obama talked about it a couple years ago, either instituting federal tax on sodas or you have got state governors, who might be thinking let me shake easy money from the beverage industry mitre by instituting some type of a tax. what would you say to a governor thinking about doing something like that? >> i would say we can not tax our way and solve any of these problems. we can't tax and provide solutions. it has never provided solutions. we can only grow our way out of the current situation. growth means coming together as business, as government, to try to create the necessary platform so that business can continue to

invest. that is the key to the future and the key to the success of our nation and i do believe that that is how jobs are going to continue to be created in the united states. we are, we have invested $10 billion in the united states in the last three years. we stiil see great opportunities in the united states. and you minged that sodas have not grown. actually, when you take the innovation that we've provided with diet coca-cola and coca-cola zero and other sparkling innovative product that is also that provide great choice to our consumers when, you look at the top 15 brands in the business of non-alcoholic beverages in the united states there actually has been growth in those top 15 brants in the united states. so brands are growing. maybe the industry is not growing as a whole but key, successful brands are growing. in dollar value the industry is growing 3% last 10 years.

liz: continuing to wave the coca-cola flag for industry thank you very much. >> thanks. liz: mike car kent, chairman and ceo of coke. old slogan when i was there, have a coke and a smile. back to you in new york. david: liz, thanks very much. fight over herbalife get as new player. it is not activist shareholder, but a united states senator is questioning the whole business model. charlie gasparino with one of the most outspoken activist in all this fight, mr. carl icahn. [ male announcer ] here's a question for you:

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through mercedes-benz financial services. david: you heard it here first. activist investor billionaire carl icahn sent an open letter to apple shareholders pushing the company to return more of its huge cash hoard to investors. charlie gasparino broke the news during an exclusive interview with icahn during the past hour and charlie is here. everyone is focusing on herbalife, you focused on apple to begin with. >> one of the good things on fox business, we're on to the news. if you watched brand x and bloomberg, we call them brand y. this apple news in terms of icahn. instead of let me hearing hear what he has to say, particularly starting with apple. >> 500 billion worth. >> right. >> we presently intend at these

values to continue. i think it is very cheap. i think they have got, i mean i don't know, what i'm missing but i mean this is how you make, make money if you're a good investor. you buy with both hand when you see something like this. david: that was news. >> right. buying shares. david: another 500 million. >> the stock didn't move much. apple is huge. the market cap is the biggest in the world -- david: but his confidence in the stock is overwhelming. >> his confidence in the stock and continuing to pressure the board. i think what is interesting here, you asked me before we came on, does tim cook hate him, i think tim cook, ceo of apple is starting to hate him. when carl -- david: on his back. he is the monkey on tim cook's back. >> we reported on fox business first in the summer that the board was starting to get a little impatient with tim cook in terms of his innovation. so there is a little tension there. now you have carl stirring up

trouble in terms of giving cash back to the investors. he makes an interesting point. you're sitting on this cash. you're an entrenched board. we think you run the company well but give it back to us. we only company. david: 110 billion. main event was herbalife. >> what is interesting about today. two news events, this on apple but herbalife is down today. david: ended 10% down. >> 10% down. down because edward markey, the senator from massachusetts came out and said there should be investigation. number of chorus of people asking for investigations because this is pyramid scheme he asked the ftc to look at it. herbalife went down after nu skin, similar business model, direct marketing stuff also got hit with some sort of investigation in china. why does that hit herbalife? herbalife goes into china, has market share. i asked carl, you have a long in the stock. bill ackman is the guy saying it's a pyramid scheme. you're the guy who says it's a

great company. what do you think about today's news? here is what he had to say. >> i'm sort of on the board. meaning we have delegates on the board. i really have to be very careful what i say. i will say this. i haven't sold a share of stock. i really believe in it. i think it is very undervalued. i think it's a great model. i do not subscribe to any of what is being said, but, i can't really get into details at this point. >> we like these things. we buy them for a real long time. like, hey, i. i hold these companies very long time. some cases eight years. 10 years. that is where i make the big money. i think it is wrong to say we're short-term oriented. i don't worry about herbalife as far as selling it. i think it is very undervalued situation. i think it said that before and

and will say it again. >> he didn't hang up the phone when i called him, mr. ackman. david: he can appreciate a jock. bottom line whether or not mark can i's investigation will continue to affect the stock. >> he is prodding the ftc and sec to look into this. i will say this common sensewise, what is ed markey adding to the equation? sec, the ftc, they know all the allegations out there. are they going, is the securities & exchange commission going to just launch into an investigation is or the ftc, federal trade commission launch into investigation whether this is pyramid scheme, illegal sort of company -- david: which mark can i said a couple of his constituents lost their fortune. that is what is moving him. >> let me ask you this. if there is ftc investigation the stock will go down tremendously f you're an investor, just know that you

have to bet on that, that they have to really do an investigation. for the long term you have to bet that they close it down. and, you know, those are interesting bets. i will say this. this is where carl couldn't really answer or he didn't and i asked him. bill ackman is the short. he has hedged the short. he is out of it. he is in puts. you can't really short squeeze him now. but guess what? who is the biggest holder? well it is carl icahn. how does he if he had to unwind his long position? david: tough to do. >> he did say he was a long-term shareholder. david: he didn't exactly answer the question. >> he doesn't want to unload it at least for now. another bit of news he is not in twitter. we were first to report that on fox business. stock went up with speculation in the stock. he is not in the company now. david: gave us a nice segue what we'll talk about. charlie, thank you very much. tell us what you think, is herbalife solid company or pyramid scheme and put it on

twitter. ftnatb. your answers coming up later this hour. regulators closely examining warren buffett's berkshire hathaway. we'll tell you why. you want to stick around for this. let's head to liz back in davos. she has one of the ceos of one the world's biggest stockings changes. liz? liz: there are more than 300 panels and workshops held meanings next three days. some ceos are so busy they never get to panels because they're networking too much. bob greifeld on nasdaq omx on how he splits his time hire at the world economic forum. ♪

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david: nasdaq omx group operates in 26 markets spanning six continents making it world's largest exchange. bob greifeld is the company ceo. liz claman had a chance to sit down with bob in davos. take a look. liz: he has one foot in the united states running the nasdaq marketsite. the other foot in europe running omx. when he is here in davos he is either networking like a fiend or attending panels like solving africa's hunger. bob greifeld, ceo of nasdaq omx. i imagine, bob, you're doing both, networking and trying to solve the world's problems. >> i hope i'm doing equally well. certainly that is or objective. liz: how many meetings do you have here? what is your davos like? >> my first real objective to spend time with you in our interview format so i'm achieving that. we have a lot of our listed companies here. this is great opportunity to meet them. we have exchange peers from

around the world. we have number of regulators here. opportunity to meet them there is also opportunity to learn. there is wonderful panel discussions, wonderful group session you get involved with so it's a world white experience. liz: you talked about regulators. it is important certainly have face-to-face, not so intense interaction, correct? does the world economic forum provide that for you? >> yes it does. it is not all the time but here and again. it is important to understand exactly where regulators are many coming from. at the end of the day our job is to please them to make sure everything we're doing within confines of rules they established and to understand that on more personal level is important. liz: can you still make money with all the regulators bearing down on you guys? >> i think so. whenf the regulation, at end of the day it will be seen as pro-competitive. when you look at overthe counter swap world i think it will grow dramatically. it might morph and change over time but the fact you will bring

transparency to marketplaces. when transparency happens, you have increase in liquidity and increase in trading volume and more increase in participants. i think that will happen. liz: with changes happening in the swaps market and overall in the equities world, consolidation needless to say is very obvious, specifically in the index world and in the exchange world. are you still looking for another partner? another acquisition? >> we did two major acquisitions last year. we're clearly in the process of digesting them that is the first responsibility. we committed to share holders to provide certain return based on acquisitions. we're happy it is accretive to shareholders now but more work to be done. yes they both are but we're proud of that. we still have more work to do. that is our number one focus. liz: stock is up 42% year-over-year. >> we're happy about that liz i certainly say. you beat out s&p 500. >> and nasdaq 100 which went up more than the s&p. liz: we know the federal reserve

is starting to taper. have you seen any meaningful changes in volumes of your trading? >> we acquired e-speed last year which is leading platform for trading government treasurys and we expect their volume will increase as the taper comes about. we've seen signs but not that dramatic but positive signs you will see increase in volume in trading in treasurys. when you take such a large unnatural buyer out of the marketplace it will have positive impact. liz: you're saying more fed taper might be better for your business? >> certainly better for fixed income businesses, yeah. liz: tell me who you want to really hear from in davos this year? is there anybody on the panels or sessions you -- >> trying to get me in trouble. a lot of people i know want to hear from them. i clearly don't want to single out any one person but i think what we're proud about or happy about as this conference is more forward-looking it is optimistic. the business topics are more predominant. technology topics are leading the way. i think that is a good thing and

it is indicative of the fact that economies around the world are healing and we're looking forward in a positive manner. liz: just as they heal, one thing rearing its ugly head, one thing you dial with is cybersecurity. you made a lot of changes over at nasdaq. doesn't matter if you're a banking company or somebody like you guys, this is serious issue. hearing a lot of people talk about it here? >> certainly. we've been engaged with this3 probably four years, very intensely and it's something that you can never rest, right? you will also know that the challenge will change. you master one challenge. you avoid one disaster, there is another one waiting. it is really what you don't know that you have to be worried about. it is constant and consistent concern i think for all business leaders today. some business leaders more so than others. if you're not worried about that. if you don't have a proactive plan in place, you certainly will be certainly in trouble at some.in the future. liz: speaking of never resting after you leave davos where is the next business trip?

>> this was long one. i started in turkey, went to israel and came here. i think the other one after this is going to london. liz: how boring. thanks very much for speaking with fox business. >> my pleasure. good to see you again. liz: bob greifeld, ceo of nasdaq omx and yes, 20th century fox lists there. back to you in new york. david: thank you, liz. warren buffett built his empire on great investments but if those investments ever fail has berkshire hathaway ever fail as well? has it become too big to fail? some financial regulators are looking into that. we have the details you don't want to [ me announcer ] this is the story miss.

david: when you hear the phrase, too big to fail you think about banks but financial regulators examining whether warren buffett's empire berkshire hathaway has also become too big to fail. peter barnes from the white house. this is very interesting, peter. >> it is, david. this is the financial stability oversight council at work. treasury, fed, fdic, other financial regulators, dodd-frank, post-financial reform and crisis. a source close to the matter doesn't deny reports that fsoc

is in early stages to whether to designate warren buffett's berkshire hathaway a nonbank sifi, systematically morn financial institution and so big and interconnected they have to give it more oversight an regulation. in fact berkshire hathaway as you know has billions in financial operations an investments. owns out right geico auto insurance. general re insurance and big takes? american express an wells fargo. the f zock gone affirms like berkshire hathaway last year -- fsoc. designated 3:00 nonbank financial firms as sifis. aig, ge capital and prudential financial. so mom meant from the fed tore -- comment from the fed and treasury on the story and no comment from berkshire hathaway. david: you heard hit here first through peter barnes. thank you very much. we asked you on twitter if you

thought herbalife is a solid company or a pyramid scheme as some senators are now saying. at crime busters saying amazing chasm between pyramid and solid company could leave anyone guessing. wonder if that is a cat or a skunk. saul says, i'm not sure, but you will get rich from a product. the company is questionable if pyramid scheme gets them. if you figure that one out, you're a better man than i am. tomorrow on "after the bell" we'll head back to the world economic forum from davos. more top business people in the world. novartis's ceo. melissa francis and money is coming next. i ys say be thman with the plan

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your bed to sleep better together. 48-month financing available through february 2 only at your local sleep mber store. find your sleep number setting and know better sleep. melissa: could health care company bailouts become reality? huge downgrade of the industry means the risk is real. we have exclusive from the man from moody's behind it all. what does it mean for you and your wallet? even when they say it's not it is always about money. melissa: we are starting off with bad news for health insurers which could mean bat nudes for your money. moody's the credit rating agency, just downgraded outlooks for health insurers from stable to negative. all the problems they said with obama care are to blame. this could mean a huge hit