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tv   Wall Street Journal Rpt.  NBC  April 15, 2012 2:30am-3:00am EDT

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again next time. welcome to "the wall street journal" report. i'm maria bartiromo. is it time to bail out or buy in? what is next? also, i speak with abby joseph cohen. and a high-tech boom and the help wanted signs are out where you might not expect them. successful startups hiring more than just engineers. then, my conversation with director james cameron. his titanic past and why he's going to the bottom of the ocean and the ends of the earth. ""the wall street journal" report" starts right now. this is what is making news as we head into a knew week on
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wall street. two of america's most important and largest banks beat analysts expectations. both jpmorgan chase and wells fargo had better than expected profit and revenue numbers. jpmorgan earning $5.4 billion for the first quarter. wells fargo, 4.3 billion in earnings. earlier in the week, alcoa kicked off with a beat as well. google passed expectations and announced a two for one stock split for google. the markets rebounded on wednesday with fears easing about europe's debt crisis. on thursday, investors put on their rally caps once again. the dow having the best day in about a month. the markets fell, though, on friday. picture this. facebook is acquiring instagram for $1 billion. the company has 13 employees and no earnings. and new cars and trucks sold in the u.s. are getting an average of 24 miles a gallon. that's the highest ever and up 20% from october of 2007, the
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first time the study was done. the s&p 500 is up more than 900% for the first quarter of the year. does that mean for a strong year? joining sme abby joseph cohen, goldman sachs senior u.s. investment strategist. >> thank you for having me. >> not so great a start for the second quarter. even though we're seeing a pick up in steam in the last few days, do you still think the markets are undervalued? >> we do think the markets are undervalued. we have to keep in mind there's an awful lot of risk aversion and when investors are reminding that things may not be going swimmingly, economic questions about china or even the united states, investors do tend to pull back. >> i guess that's the cautiousness that we're seeing. abby, let's talk fundamentals. earning season under way. most analysts are looking for earnings growth. the s&p is under 100%.
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what does that mean for investors? with the market as strong as it has been, i'm wondering if expectations are too high in terms of earnings. >> it's a great question, maria, from a macro perspective, our team here at goldman sachs have
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that there is not a quick and simple resolution to the european problem, be it on the economy or on the financial
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system or the sovereign debt situation. instead, we think there's going to be a global, gradual grinding process and we think that that's what we're seeing. the china situation is one where we think that the consensus is probably overly pessimistic. while the first quarter gdp data for china were representative of a deceleration, the most recent weekly and monthly data from china show a reacceleration. so we believe that it's possible that chinese growth, particularly with regard to consumer spending and some other categories may prove to be above current consensus expectations. keep in mind that the chinese monetary authorities became very concerned about inflation a couple of years ago and they actually have reversed that policy. they did so a few months ago and so over the next few months we expect to see the benefits of that move towards more stimulus in their policy and therefore a
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reacceleration in the economic growth. >> it sounds like you're not too worried about the slow down in china, then? >> that is correct. we've also seen a pickup recently in their trade data. exports have picked up because economies like the united states are showing good steady growth. >> abby, great to speak with you. thank you so much. >> thank you. up next on "the wall street journal" report, the silicon alley has put up a help wanted sign. how to get your foot in the door. tips from the hottest ceos in town. 100 years since the unsinkable "titanic" met an iceberg. film director james cameron will join me. little did i know that one week later i wasn't smoking. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions
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there's a hiring boom at one new york office building signaling good times for help wanted sign. the jobs aren't for computer geeks either. proof that we're in a start-up
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nation. more than 100 jobs are opened at urban site thrillist four square software developer and appointment making site zocdoc. >> i would hire 100 people tomorrow if i could find the right people. >> they are also looking for teachers and lawyers, accountants, photographers across the country. there's so many jobs available. >> i went to school for literature and theater and came to new york to get discovered. what i'm bringing from my creative background is an understanding of how human beings work for training doctors every single day. we're integrating their technology with our technology. >> it's a men's lifestyle media company. we put on 100 people this year at a rate of two -- i think we've actually accelerated a little bit. >> i'm looking for someone who really has a passion for the product. and my city editors are very diverse function people. some of them have background in
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journalism, some of them are paralegals. >> when i was on wall street, everyone used to talk about the good old days, i want to be in an industry where people were more optimistic and talking about the future. >> joining me are the founders and ceos of zocdoc, sire rouse mass sunni and ben lerer. thanks for being on the program. >> thank you. >> tell us what is going on in terms of zocdoc, your plans for expansion. >> we help people book doctor's appointments immediately on line, where they are looking for a doctor and they can find a doctor. >> and you can actually book it and get on the schedule? >> absolutely. you can do it 24/7, 365 days a year. when the doctor's office is closed you can get access to health care. >> you started the firm. how did you do that? >> well, we started 4 1/2 years ago in new york and spent 2 1/2
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years perfecting new york city. we're trying to hire a number of cities all over the country. >> ben, let me ask you about that. 21-city additions, three million subscribers. how is your staff keeping up with your content and business and i want to hear your story, how you started the business. >> well, it's tough. hiring is definitely the number one priority. we're growing in so many different areas. it's fun but it's pretty overwhelming. >> how did you start the business? >> started it really out of the need, similar to cyrus, we were living in new york city, reading crappy guides, we thought, and want wanted to sort of bridge the gaps between the men magazines we were reading and the local city guides and felt that having a city guide that spoke our language was in need and my mother and i shouldn't read the same city guide. >> that's funny. >> exactly. >> so you're both in hiring
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mode. what kind of people are you looking for? cyrus, what's the kind of people you want to hire? what stands out? >> well, we have in word in our company that we use. which is humbition. we like very huck bell and ambitious people. it works well with our culture. the team that interfaces with doctors and patients and we've had such a great success, finding people with diverse background. we have opera singers, actors, people who were literally working in grocery stores that are very consumer-oriented, friendly folks and we have an insatiable appetite to hire a number of them. we are needing more people on that team. >> you know, i guess -- i'm trying to figure out what is behind all of this vibrancy and i guess you have to believe mobility is one of them. that's sort of the underlying trend that we're seeing so many implications of.
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so this week we saw instagram being acquired by facebook. talk to me how important mobility is. >> i think it's more important than people know right now. $1 billion for instagram is great but what it really represents is mobile is here. you can't think about mobile as a separate rate to bill or a separate product but everything you do has to be mobile. >> yeah. i have a funny story, which is we're helping people book doctor's apointments over the internet and we got a note from ash pent that said she was so he can cited that zocdoc came to her iphone because she was sitting in bed sick. she didn't want to have to use her computer to book her doctor's appointment. the fact that she could use her iphone, genius. people were talking instead of using the applications. so it's -- i agree with ben
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completely. it's absolutely here to stay and it's going to be the majority of what we do in relation to the internet in the future. >> let me ask you about some of the investors and what's the end game for you. cyrus, first. zocdoc has pretty good boldface names. microsystems, peter teal, major investor in facebook. what are the plans to go public? >> first of all, i never got ben lerer so i never got every major investor. we are putting our heads down and trying to expand nationwide. we have the rest of the country to go through. we are hiring aggressively and so to take attention away from that is really distraction for our team right now. we are not really focused on that at all. >> and venture capital is there. venture capital is looking for opportunities and pouring money in. more than $200 billion has been raised by the tenants in your building, which i think is really funny. why do you think we're seeing this kind of money flow moving into technology right now, ben? >> well, i think the space is
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general couldn't be hotter. if you think five years ago, ten years ago when really smart, talented people left undergrad or business school, they wanted to go to wall street. >> right. they wanted to go to goldman sachs. >> they don't want to do that anymore. they want to be mark zuckerberg. so do i. there are so many categories not yet disrupted by the internet and everything is going to be disrupted. so if it hasn't yet, it's coming. >> really cool stuff. good to have you on the program. thank you so much. >> thank you. >> congrats and best of luck, gentlemen. up next, hollywood original james cameron created the two ♪
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for accounts receivable today. i mean i know that this is important. well, both are important. let's be clear. they are but this is important too. [ man ] the receivables. [ male announcer ] michelin knows it's better for xerox to help manage their finance processing. so they can focus on keeping the world moving. with xerox, you're ready for real business. jack! >> it was the second highest grossing movie of all time and now "titanic" is back in theaters in a new 3-d conversion. james cameron says it makes good business sense. i spoke to the director and national geographic explorer. >> i think it's going to be resonating a hundred years from now and well beyond that like the great tales of rome and
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greece. this is -- this is a story that has so many aspects of human nature in it. you know, it's this great sort of moral parable about being too big to fail. these guys that were in the biggest moving object ever built in human history up to that time and they sale it into a known ice field despite warnings on a moonless night, crash it into an iceberg and kill 1500 plus people. >> there's so much fascination about this wreck, memorabilia expeditions, several large auctions of items retrieved from the spot. some say the ship should be left alone. what do you think? >> i believe the actual wreck, the bow section and stern section, which are so iconic -- and i've been down there on 33 separate dives photographing it. i know how hadn'ting and memorable it is. i don't believe that should be
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cut up or an attempt to be brought to the surface. but the artifacts that are scattered, like the contents of a pinata when the ship broke in half across the bottom mud, i think bringing those back and putting them in these traveling exhibit shows is a good way for people to feel connected to these human stories. you know, when you see a fork or a letter that was in somebody's wallet or, you know, eyeglasses, it connects you to who those people were that were on that ship. it makes the history seem alive. >> it really does. it's chilling, actually. let's talk about titanic 3-d in theaters. it took some $3 million for the remaking of the film. >> we have to look at which film merits it and which film doesn't. the lion king was a successful
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re-release in 3-d. so was star wars. now "titanic" is doing very well around the world. we know that a certain type of film that has been very popular in the past can come back to the theaters and have a second life. >> so "avatar" made $2 billion worldwide. how did the changes in technology excite you as a story teller? are you concerned about making films bigger and bigger drawing in audience to pay premium ticket prices? >> i think you have to keep up. you have to keep up with the audience's expectation. we haven't gone as far as we have to go in making the image special in theater. we can go to higher resolution, higher frame rates and we can always increase the light levels as well. i think that's one of the downfalls of 3-d right now in a lot of cinemas, it just gets dark when you put the dark glasses on.
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now, the exhibitionist community is realizing that they are stepping back from the 3-d and they have to up their game if they are going to charge a premium ticket price. >> you just emerged from the ocean's deepest spot. it hasn't been visited in more than 50 years. you're the only person who has done this solo. >> right. >> what did you see in the marianne trench? >> i actually dug challenger deep and the deepest dive was 35,750 feet approximately. and what i was struck by was the absolute sense of des sole lags and a sense of alienness and removed from our world. but even there in this place where the pressure is so intense that it could crush steel, it could crush titanium, you still find life and there were these
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little creatures swimming around the sub. so, you know, in an age where we think exploration is sort of done on planet earth and you can google anyplace on the surface of the planet, there's actually this huge unexplored frontier down there and the geologists are actually very interested because these deep trenches are formed by subducks process. one plate going over another. and this is where the enormously tsunamis are being generated, by the geological activity at the trenches. >> my thanks to james cameron. up next, we'll take a look at the news for this upcoming week that will have an impact on your week. back in a moment.
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for more orn our show and our guests, check out wsjr daut cnbc dotcom. look for@maria bartiromo. look at the stories for the week ahead. earnings season really takes off this week. we will get first quarter reports from citigroup, goldman sachs, bank of america, as well as coca-cola, microsoft, johnson & johnson, mcdonald's, ibm, and general electric, among others.
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retail sales will be released on monday. on tuesday the 17th, this the deadline to file your 2011 income taxes. we'll get the total number of residential units that began construction in the last month. then on thursday, the nation's realtors will report on existing homes sold. that will do it for us today. thanks for being with me. next week, we're getting all wet on earth day about the discussion of the chick shock waves hitting the water. keep it right here where wall street meets main street. have a great week, everybody.
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