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. >> boris johnson mayor of london. >> thank you, betty. >> much more ahead.ther kind of beverage war heating up. the ceo of one company looking to take soda makers had on. -- head on. ♪ >> we are less than an hour from the start of trade. a look at the newly minted $700 billion company. who is that, scarlet? >> given apple's gain in the premarket, such a growth -- the first time a u.s. company has reached that $700 billion market cap milestone. apple has long been the most valuable company in the world. the next biggest is exxon mobil but its market cap is a long way off. google is the next biggest tech company at $357 billion. u.s. companies dominate the big company list. the biggest non-us company was number nine novartis. the big picture here is that apple's outsized market cap is matched by outsized earnings. a chart showing apple's influence on s&p 500 earnings -- in the fourth quarter, apple made up for 8% of the s&p 500's earnings. it reported profits of $18 million -- $18 billion. in terms of what to look for it depends on what apple does with its cas

please be sure to catch betty liu's interview with the london mayor boris johnson coming up right hereoomberg tv on "in the loop." brendan g: coming up, spacex postpones its launch of the falcon 9 rocket again. this is "bloomberg surveillance." on bloomberg television, streaming on your tablet, your phone, and bloomberg.com. ♪ tom: good morning, everyone. "bloomberg surveillance." again looking at oil, it cannot get a bid. we are not looking for crisis or panic, but there is oil under $50 a barrel. olivia sterns and brendan greeley with most. rockets away. brendan: spacex scrap the launch of its unmanned falcon 9 lorocket. today's single best chart looks that public funding for the space rate. "surveillance" chart was trying to figure out what the role is now of public funding in the space race. there is not really a space race anymore. what we are looking at right now is spending on nasa as a percentage of the federal budget, so we are not looking at absolute but where it is as a priority, and you can see we do not really have a space program. we had briefly a moon program, and since

johnson but to get better. that seems to be the situation. betty: it was not that bad. julie: there were bright spots. sales were a bright spot. the company did improve gross margins to some extent. it is a question of how much is enough. looks like jcpenney's cash position is a little better. the free cash flow growth this year projected by the company is lower than anticipated. betty: art peck at gap, can we attribute earnings to him? julie: we can attribute stock action to art peck. he was an internal person, head of innovation at gap before the promotion. he has changed presidents of various brands. he fired the creative director. they got rid of the creative director position but brought in a head of design and product development. she was previously at limited brands and helped create the pink brand at victoria's secret. betty: sounds like a very apple-ish title. julie: old navy continues to chug along gap needs to fix gap. betty: thank you; julie hyman. back to the markets. a big flashing red flag. i hate to ruin your morning investment firms from ubs to invesco are saying watch out. the stage

betty: i think of athletes who has transitioned well, michael jordan, magic johnson those are in basketballendan: shaquille o'neal makes more and sponsorships than he ever did. he has figured out how to hone his post basketball in the a guy with a big smile. olivia: betty looking forward to it. be sure to catch betty liu's interview with derek jeter coming up on "in the loop" starting 8:00 a.m. eastern time for some in time, please answer our twitter question of the day --we want to know -- what is the likelihood that greece exits the euro? tweet us @bsurveillance. ♪ tom: good morning, everyone. "bloomberg surveillance." i am tom keene, with the olivia sterns and brendan greeley with our top headlines. brendan: in pakistan, at least five people are data following a apparent suicide bombing. the attack occurred in the city of lahore. no immediate claim of responsibly. afghanistan, this morning television suicide bombers dressed as police officers attacked a police station in kabul.at least 20 people died in that assault. japan is waiting further into the local assault against islamic extremi

betty: the dow is up 120 points. i want to note that. earnings coming out after the close today. linkedin and twitter. i want to head to san francisco to speak with bloomberg west editor cory johnsonws for investors off the results? cory: linkedin has been crushing it lately. they have three business is growing at over 40% per year and that is after -- they're publishing platform is doing well, hiring solutions is doing great, and their premium services are also growing at over 40%. what we look for misleading numbers, they are still capturing new members. it is worth noting that it took them 10 years to get to 4 million in china, and then not even eight months later they are up to 6 million users. that 50% growth could really add to monthly active users, and that is the big number we look for. betty: the big news coming up from twitter which has not had a great story with investors. they have disappointed them pretty much on many accounts including how are they going to make money on this platform. are we getting anymore enlightenment here? cory: the way you phrase it is perfect. at this point i think they are realizing that user growth is slowing and because of that they have no