the first thing is what is alibaba. it's kind of not an amazon, kind of is in some ways, what we mean by this is it has elements of things that we associate with some of the iconic companies in the u.s., but obviously the chinese market is not the u.s. market so we wouldn't so we wouldn't expect the u.s. market equivalent. jack didn't start to create the amazon of china and it wasn't amazon of china, actually there was a company that tried to become amazon of china, it was convenient to have a lucky 8848 but unlucky name for company. he was right because the chinese market was mature enough for three important reasons including people didn't have enough money, they also couldn't pay easily for the goods and you couldn't ship them reliable, if you fast-forward today, one of the reasons that he's successful is he solves the problems and he created what i called some architecture of trust. those of you who lived in china, the rarest commodity other than fresh air is trust and i don't mean that in a negative sense for peopl

but that is what alibaba has. for example, if you buy an alibaba from a merchant, let's take another example. it might be, i don't know, it not me, but i heard a story about a guy selling type, stockings. all he does -- he is very, very good. he's always been good quality. it's always delivered on time. he works for nestlÉ, but he goes home and makes five times his salary just telling women's tights. it's not just one-off kind of thing. they have a function that is like a messenger client that pops up when you have almost like the vendors. you basically have people who you know are your guide. the true person under the umbrella person. they will also give you discounts can send you free stuff. the alibaba is thriving because it's re-created that china that we love online at ebay and others are like you have to fill in this form. they just failed. even though they had a very good early start, but they kind of messed it up. have a whole turn the humiliation at ebay. make whitman was early to see that she was let dow

alibaba is prepared to continue investing in high potential businesses that are highly strategic to alibabaand he entertainment,al local services, and international expansion as the priorities. look at more detailed that during the course of the show. we do value your opinion, please share your thoughts. youth might handle. australia will have a new bosses for their reserved -- a new boss for their reserved bank. hall, -- paul what will philip bring to the job. >> he has some useful credentials. he has been the deputy since 2012 and he has written a number of papers in the past on the role of central banks in low-inflation environment. that will be very useful experience because that is what we have here in australia right now. we had our first deflationary cpi, the first in eight years. the first governor in 40 years who will not inherit an inflation problem. he also has the least ammunition of any of his predecessors with the cash rate already at a record low. is scott morrison making the confirmation announcement of parliament. >> he brings a wealth of knowledge and experience to governo

plus, here an "street signs" as alibaba gets set to reveal. tune in to find out if they are having success. we'll discuss coming up on "street signs." >>> good morning. and welcome back to "street signs." let's get you up to speed with earnings over the u.s. strong earnings from cable helped 20th century fox in the first quarter. >> fox shares rising after the company reported better than expected revenue. 21st century fox reporting revenue growth of about 6% to $7.23 billion, earnings coming in right in line with expectations at 47 cents per share. it was the company's cable tv business that drove results higher than expected. higher affiliate as well as higher advertising revenue across domestic and international channels. the studio benefits from the --. but the studio's revenue came in short of expectations. how though the bottom line was stronger than anticipated. companies earnings release the demonstrated value of our brands and content will drive business forward in both the existing and evolving landscape references challenges and opp

alibaba can't really control what is going on its stock. see alibaba as a stock -- a proxy for the chinese economy. francine: what do investors actually want to see from alibaba's international business? >> investors are going to want to see expansion in these faster growing southeast asian markets. a said that he wants to get more than half of his sales internationally. revenue from out of china has been falling for three successive quarters. the recent deal is great because it gives them a foothold in southeast asia. in the short-term, investors are concerned about how that might impact margins. francine: thank you so much. we will be following those figures closely from alibaba when they come out. stay with bloomberg. here are some highlights. the polls are open for the london mayoral election as well as elections across the u.k. time, initial jobless data in the u.s. after that, shinzo abe is scheduled to discuss european relations in london. the prime minister is just joining us for 24 hours, but maybe a little bit longer. european sto

alibaba earnings will be released in over an hour.e than doubled in the last year, but the stock has not reflected that with investors treating it as a proxy for the slowing chinese economy. when i get the guest says those fears are overblown. let's join sean ryan, the managing of the market research group as to why is alibaba not synonymous with china? you could argue they are healthily correlated? alibaba and the economy is fairly synonymous post about but what people like george soros is taking is being overly scared about the economy. we need to break it into two parts, the first would be industrial. the consumer side is really strong. the e-commerce sales are still growing 25 or 30%. willpect that alibaba outperform market expectations for two reasons, the first is they have done a good job spurting out there logistics supply chain. the tumors over there are still having rising incomes, starting to shop a lot more. the second thing is, the last six weeks, the state media has not criticized alibaba as much for counterfeit issues.

matt: alibaba sales and alibaba profit on the rise since the ipo.u look a couple of months after the ipo, we got to 120 and the stock is falling -- has fallen. one stock jim chanos says to short. he has concerns about china and has since the day he was born but he says short alibaba. david: she said we should look at alibaba as a surrogate for the chinese economy, do you agree? jack: i do, an indication of what is going on in the consumer sector in china which is still on fire. you are building an interesting area, services is a big part of it, alibaba represents consumption of goods and to some extent services. it is sort of like amazon. amazon cell phones -- amazon is beats the number but an indication of the direction of where things are going. carol: take a reliable one? jack: i think it is a good proxy for what is going on in china. is anole market situation alibaba market because it is an indication that china is ok. carol: some of the stories trending. top stories users are reading. specifically -- jon: the abolishment of the 500 euro note, i

flow that catch up to alibaba -- will that catch up to alibaba?uest: obviously the data from china is uneven. it is not inconceivable that the consumer is there as well. that's one concern. the other concern to keep in mind is that they are losing shares. believer or not, they grew 40% of the quarter, that is slower than jb.com. 10 years ago, ebay was bigger than amazon then, but jb is more like the amazon of china. they are growing a lot china -- faster. emily: what about international growth? there's a question of when alibaba revenue from international will be on par with what they see drastically. how far off are the? -- they? guest: it is going very fast. the consumer and cross-border company is growing fast. domestic business outside of but expectill smoke, -- it's still small, but expect that to change. their india business is going to grow as well. thank you, always great to have you here on the show. staying with earnings, gopro swings to a d+ in the first quarter, the company posting an adjusted loss per share of $.63. sales sliding near

it is a huge driver for alibaba.he sec has requested an alibaba on affiliate offering delivery and the just of services, according to the information on the filing. cooperating.it is the sec did say to alibaba that requesting information is not an indication that the company has broken any laws. said it cannot predict when the investigation will be concluded. there could be a cloud over alibaba for a while. accounting practices have been a concern among some investors. some have called them unusual. alibaba operates the world's largest e-commerce platform by volume. deutsche bank said the inquiry could be similars to others between the sec and chinese internet companies. also, the unprecedented scale of singles day. alibaba shares closed 6.8% lower in the u.s.. rishaad: right, let's have a look at what's going on elsewhere. indeed, kicking things off with a look at the scandal surrounding that japanese one person's position going there. >> that's it. , sink what ators bit of upside today, over 6% in the early session

is selling at least $7.9 billion of its shares in alibaba.e will strengthen their balance sheet as it reduces the ache from 32% to 28%. for more, we are joined by reed stevenson from tokyo. what is your reaction to the sale? i know most of a was anticipated but what can you tell us? one thing to remember is back in february, softbank gave us a signal that this might happen. they announced a $5 billion in shares buyback to purchase working percent of their own shares. boostave the socket nice and the question was how are they going to pay for it. i think we have part of the answer today. anyy: does it signify change in the relationship between softbank and alibaba? takes the stake ownership from 28% to 32%, so there's not a huge change their. the two ceos sit on each other's boards. i don't think it's going to change. they like each other. i don't think you should read too much into this apart from softbank meeting to shore up its financials little bit. that: here's a company paid $20 million for their shares of alibaba 14 years ago. meanwhile

alibaba sales surge. the e-commerce company seeing a 30% gain in revenue as they gain new users and sales on mobile devices. excuse me. trumpundlach says donald is extremely comfortable with debt. a closer look at what trump presidency would mean for investors. vonnie: and how tesla's new forecast could change the entire industry. introduce half a million cars a year by 2018? let's head to julie hyman who has the latest. julie: we are seeing a little bit of a bounce back to we are not say much magnitude in terms of percentage gains across the board. for major most averages. following on the today decline that was the largest since early february. to be what wears are seeing here. earnings continue to play into the equation. if you look at the stocks gaining on earnings use, first quarter results they're beating analysts estimates and also a 1.5 lien dollar buyback. chesapeake, you can see one of those volatile energy stocks we are tracking. said it signed a deal to sell its oklahoma drilling rights for $4

david faber with the breaking news on alibaba. karen, what should people make of what's going on here? >> i would think we'd see pressure on alibaba. i was wondering if yahoo! has any ability to do any of those kind of swaps as well or whether it's just softbank's opportunity or not. it's an interesting set of transactions. sounds like. structured well for softbank, sounds like. so i don't know. i would think pressure on alibaba. >> after an after-hours trade we're down only 2%. people are certainly not frightened by the move, or feeling that the skids are being put under the stop. >> i also point out, i just looked at it, i didn't look at alibaba all day. but i see it traded four times normal volume today. so i'm not sure quite what that means. i don't know if people were -- >> china's shares were active earlier. >> i will say to karen's point, the headline risk in this stock to me is still towards the down side. it's trading well given what you just talked about. i'd let the shakeout before i get back into it. >> it seems all th

could alibaba become the next major sponsor of fifa? if a deal closes, they would become the second chinese corporate giant. about $40 million a year, on a four-year world cup cycle, alibaba would join join adidas, coca-cola, and others in the of fifa partners. coming up, charter ceo tells us what is next now that the time warner deal is in the rearview mirror next. ♪

. >> alibaba under investigation. and the stock is selling off.ll get a trade update. >>> plus, the tale of the tape and the brother versus brother debate. >> the spending in china was down in q4, pete, and i don't know if it has picked up yet. >> well, the numbers are so depressed, all they have to do is to eat the stock. >> and now, sitting down with jon and pete, and what are ta doing now? >> and whole foods going after the millennial shopper. can that give them some mojo? it is all on the halftime report. man 1: i came as fast as i could. what's up? man 2: this isn't public yet. man 1: what isn't? man 2: we've been attacked. man 1: the network? man 2: shhhh. man 1: when did this happen? man 2: over the last six months. man 1: how did we miss it? man 2: we caught it, just not in time. man 1: who? how? man 2: not sure, probably off-shore, foreign, pros. man 1: what did they get? man 2: what didn't they get. man 1: i need to call mike... man 2: don't use your phone. it's not just security, it's defense. bae systems. >>> welcome back to the "ha "h

he was an advisor to alibaba. scarlet: now, he is an author of a new book on alibaba.joins us live from london. but start with alibaba's revenues that came out yesterday. analyst's estimates. what was your take away? >> a very strong core business. people are talking increasingly 's core andba plu periphery. i talk about this as the iron triangle. it allows them to take on risk in other areas like finance and entertainment. by the way, i'm no longer an advisor, i was a long time ago. if i was advising them, i would say getting disciplined around the long-term goals will be key for the future. alix: especially as the commerce -- e-commerce world gets more competitive, it you look at jd sales compared to alibaba. jd is growing faster, despite the fact that alibaba's stock is outperforming. you think they can stay ahead of the competition? >> to some extent, they don't want to compete with jd. jd is a more capital intensive model. criticizingaid -- investments being off the balance sheet. the reality is they are much higher than amazon overall because of the asset strateg

alibaba is cooperating. says just because it requests information does not mean anything is wrong. ♪ ♪ david: you are watching "bloomberg best," i am david gura. earnings season is winding down, but there were still a number of major companies reporting. a roundup begins with a u.s. builder many see as a bellwether for the luxury housing market. scarlet: toll brothers ceo doug yearly has been frustrated by the decline in his stock price. today, the stock is having its best day since 2013 after earnings beat estimates. betsy with the numbers on the luxury builders show. the numbers don't lie. first, we discuss stocks. even with the bounceback toll , brothers is down 12% in 2016. in the past year, it trailed the broader market and its peers. today's results lessened some investor concerns, saying the luxury market remains a strong and conjunction labor costs are easing. again or are bouncing back from the housing crisis. revenue increased 31%. analysts estimate toll's revenue may regain in the full year. calif

in the long term this will be a very big boom for alibaba.in the long-term it's a , positive story for the chinese consumer. yvonne: still ahead, a bonanza of big-name interviews. jack lew argues the u.s. most of puerto rico through its debt crisis. and blackstone's steve schwarzman explains why these are very challenging times for hedge funds. all this and more coming up on "bloomberg best." ♪ ♪ yvonne: this is "bloomberg best." time to review some of the most intriguing interviews on bloomberg television. investors around the world are wondering when the federal reserve may pull the trigger on its next rate hike. they discussed that question with san francisco fed president john williams. >> were you on board last week with the fed's decision to not move on interest rates? >> yes, i was. i think we are in a very dated dependent mode. we want to make sure we have a good reading and understanding of what is happening both in the u.s. economy in terms of growth, jobs, and inflation. and also make sure we have a good read on what's happening gl

also, alibaba has been on and acquisitions spree.take for southeast asia expansion in e-commerce. they want to see how they are going to monetize that investment. and going even further forward, perhaps an ipo for ant financial, the owner of alipay. it could be, it could unlock a lot of value for alibaba investors. this is a division that is valued somewhere near $60 billion. so there is a lot of unlocked, untapped areas where investors are hoping to get more clarity. emily: now what about all the , acquisitions that alibaba has made across a lot of different areas? you know how successful have , these acquisitions actually been? stephen: yeah, they are going into a lot of areas. video content, movies, the south china morning post. jack ma bought to that post newspaper here in hong kong. he is really going into a lot of different areas. he has stated he wants about half of revenue to come from overseas eventually. but you know what? overseas revenue has declined actually the last three straight quarters. it's only 6% of total revenue

he could unlock a lot of value for alibaba investors.that is valued somewhere near $60 billion. there is a lot of unlocked, untapped areas where investors are hoping to get more clarity. emily: what about all the acquisitions that alibaba has made across a lot of different areas? how successful have these acquisitions actually been? stephen: yeah, they are going into a lot of areas. video content, movies, the south china morning post. jack ma but that newspaper in hong kong. he is really going into a lot of different areas. he has stated he wants about half the revenue to come from overseas eventually. overseas revenue has declined the last three straight quarters. it's only 6% of total revenue. that's an area where he is still needing to go a long way to achieve his goals. emily: let's talk about international growth. jack ma said international growth will contribute significantly more to the bottom line, but it has been slow going. how much progress of actually making? stephen: it is slow going because right now this is a domestic play

yahoo has a 15% stake in alibaba. how does that impact them?there's not much they can do about it. as the shares of alibaba fluctuate. >> but what does do it to the valuation? it must have a depressing effect. there are more and more us is sementible to the fluctuations. >> we'll leave it. there thank you for your time. >> thank you. >>> all right. voters at exxonmobil's annual meeting today approved a measure to let minority shareholders nominate outsiders for seats on the company's board. meaning that a climate activist could eventually become a director at the oil giant. as farfetched as that does seem. calpers pressured xpon on climate change, holdsed 1dz billion of exxon shares and ann simpson is caliper's director and thinks exxon should be free to run the business without activists, his words, int interference. welcome you to. while the proxy access item was approved today which i guess liberalizes the ability of shareholders to nominate people to the board, two other positions that you favored, one specifically to place a climate expert

alibaba members complained about fakes.libaba says it is working to erratic kate -- eradicate counterfeit goods. accused alibaba of being too slow, difficult to use, and lacking transparency. for the white house reaches oregon and kentucky with every clinton trying to break bernie sanders winning streak and secure the democratic nomination. the race is said to be too close to call now, separated why only a few hundred votes. trying to geten it towards unexpected election contest towards donald trump, but sanders has vowed to stay in the race, forcing the democratic front runner to keep an i on the primary campaign. mored trump claims he made than $500 million over the last year, but not too many details on how. the republican presidential nominee says he filed his required annual financial disclosure with the federal election commission. mitsubishi motors were lower in tokyo, unchanged at the moment. president has decided to resign over the fuel economy scandal. have to take the blame for the falsified tests. he has been pr

why was alibaba suspended?covered that the president of iatc had a conflict of interest. he owns shares in alibaba and other members of the progress organization that fight complaints that alibaba was not , not rigorously counting -- cracking down on counterfeit. so the reason they were able to join was that in april, the iaac created a new category and alibaba joined afterwards. all of this is under review. angie: what does this mean? reporter: their share prices were down. in terms of investor confidence, it puts in question whether alibaba is on track to shake off its name and reputation has a haven for counterfeits, which is one of the things that has plagued this company. they have said they will continue to regulate and crackdown on counterfeits and in terms of iaac they have an independent unit to look at this. angie: this is critical to the global trust. reporter: alibaba wants more than 50% of revenue to come out of china, bring on more global branches. they have been trying to do this . in terms of at

shares of alibaba and as is typically the case, yahoo!nership of the stock also having a good morning. and the chinese market place was up some 24% year over year and they got active buyers to increase from 423 million from 4 -- 407 million. so the growth still in tact. >> and some with amazon, pressuring the gross margin. what's different here is it is very much an advertising that you see accelerating. >> the smaller merchants on the platform. that is the key way that they get people to come is by spending money on the platform to attract them, to your point. it's always worth pointing out. we've got the high end, well known world wide brand and then the platform that you mention where advertising is a part of it. >> later we'll talk to barry diller, who 15 years ago bought expedia for around $1 billion as a structural story and now it's worth if you include the spin-outs about $25 billion. >> sara? >> i think it's interesting that baba and those that do business in the u.s. continue to defy the chinese global concerns. relating to the

alibaba is being investigated -- for what?d: the sec is looking into consolidation policies. it has asked alibaba about more information on its delivery network and also operating data for single day. single day is basically a shopping extravaganza. once a year. it was in november last year. it brought in something like $14 billion. oppenheimer co. says the single day issue could be related to issues with alibaba's definition of gmv -- growth merchandising volume. it basically refers to total transaction. it is possible government moved sometime that turned out to be fake. it is possible 20% or 30% of transactions could be inflated as sellers buy their own products to boost up their own sales ranking, essentially. but sec does not think it is too much of an issue, it thinks alibaba is trying to become more transparent. alibaba says it is cooperating with the sec. and sec says just because it requests information does not mean anything is wrong. ♪ ♪ david: you are watching "bloomberg best," i am david gura. earnings season is w

alibaba is cooperating. says just because it requests information does not mean anything is wrong. ♪ ♪ david: you are watching "bloomberg best," i am david gura. earnings season is winding down, but there were still a number of major companies reporting. a roundup begins with a u.s. builder many see as a bellwether for the luxury housing market. scarlet: toll brothers ceo doug yearley has been frustrated by the decline in his stock price. today, the stock is having its best day since 2013 after earnings beat estimates. let's see what the numbers on the luxury builders show. the numbers don't lie. first, we discuss stocks. even with the bounceback, toll brothers is down 12% in 2016. in the past year, it trailed the broader market and its peers. today's results lessened some investor concerns, saying the luxury market remains a strong and conjunction labor costs are easing. it slowed again after bouncing back from the housing crisis. revenue increased 31%. analysts estimate toll's revenue may regain in the ful

jon: for me, alibaba, really interesting.umbers actual revenue numbers, alibaba has been used as a proxy to see what chinese growth actually is. this kind of blurs things even more. david: how transparent are their accounts? do we really know alibaba?ing on at it raises a larger question about chinese numbers overall. vonnie: jack ma is wonderful and marketing. we knew there was a problem about how they were recording sales during single stay -- .ingles day as --funds under scrutiny they may lose 25% of their assets. he said "there will be a shrinkage and it will be painful. that will be pretty painful for an awful lot of savers." joining us now, fabio savoldelli . i don't know whether you think 25% more is too much or whether you think this is just all blown out of proportion. -- five hedge fabio: there are people still adding value. vonnie: some managers and value. -- value. you see a relatively strong period of performance. over 1990, they've performed. the white line is the hedge fund performance, nicely above the s&p. in

alibaba is cooperating. says just because it requests information does not mean anything is wrong. ♪ ♪ david: you are watching "bloomberg best," i am david gura. earnings season is winding down, but there were still a number of major companies reporting. a roundup begins with a u.s. builder many see as a bellwether for the luxury housing market. scarlet: toll brothers ceo doug yearley has been frustrated by the decline in his stock price. today, the stock is having its best day since 2013 after earnings beat estimates. let's see what the numbers on the luxury builder show in the numbers don't lie. first, we discuss stocks. even with the bounceback, toll brothers is down 12% in 2016. over the past year, it trailed the broader market and its peers. today's results lessened some investor concerns, saying the luxury market remains a strong and conjunction labor costs are easing. tolls revenue had plunged during the u.s. housing crisis. it slowed again after bouncing back from the housing crisis. revenue this qua

you now about are alibaba and chinese internet >> i know you were really bullish on alibaba's ipo last year. how bullets are you now about alibaba and chinese internet companies? bedlam we read about, i will say something that will strike you as odd. i don't think anything has changed about china. consumer demand is very strong. internet companies -- their business is very good. it is strong, healthy, vibrant. we built our own business they're in the course of last 13-14 years. >> quite a robust business. >> run by some wonderful people. it is no accident that the most valuable internet companies today are chinese because over the next 20 years, there is going to be far more business done between the technology us out in the get u.s. than there has been in the last 30 years. >> what does silicon valley have to learn from china? >> i am always struck by how eager people running chinese companies are to learn about their american counterparts. how frequently they come to the united states, how jammed their schedules are when they come. andsh that the ceos founders of silicon valley compa

there are a couple of things that with alibaba, going either way.not panned out with growth in either way. >> and it is the hardest question on alibaba, because i am struck by how similar the strategy is to amazon and not back then 15 years ago, but today. you look at the cloud computing business that is what they are trying to build up and it is / 1/20th of a percentile of the business of amazon. so i think that are there is strikingly a number of similar, and outside of the core business similarities of their strategy and amazon and if they get it rig, that is why the stock can go up materially from the current levels. >> although, henry blodget, this is a popular stock to short even if you believe that the company itself, and the fundamentals of the company are sound, it is a pr proxy to short china. if you are believing that china is is going to be growing slower or stumble or have a hard time, and alibaba has padded the bottom with one-time eye teams like the sale of the stake in china's version of groupon, and if they can escape the macro clou

daniel: there was a shock for alibaba today after their stock dropped. what's happening there? guest: not good news for the chinese retailer where the securities and exchange commission is investigating accounting practices. as for now, alibaba is said to be cooperating and providing information related to its accounting and logistiti network. that said, it's not an indication of any wrongdoing. alibaba stopped at 7% at a time when investors are questioning the growth potential after a slowdown in the chinese economy. daniel: just goes to show billions of dollars in sales are not always enough to keep investors interested. microsoft cannot seem to catch a break in the mobile market. less than 1% of all new smartphones sold this year run windows mobile and that is having real world consequences. microsoft has shut down operations in finland and cut down 1300 jobs. microsoft. production from nokia. but it has failed to get the operation back in the black. that is your business news. hope you are sitting comfortably for this next story. brent: it is time to take a seat -- money ma

many see alibaba as a proxy for the chinese economy.e worried about the strength of the chinese consumer. unfortunately for alibaba, much of the stock prices out of his control. manus: what do investors actually want to see from alibaba's international business? and maybe -- selina: $1 billion deal to buy lozada. see expansion to in these fast-growing southeast asian markets. the challenge for alibaba right now is that much of its revenue still comes from the chinese consumer, which investors have been seeing slowing down. this is something investors will be watching very closely. manus: our tech reporter, selena weighing, in hong kong. -- selina wang. cameron said the u.k. would be discriminated against by other nations if we were to leave the eu. cameron warned of the consequences for trade and for the british pound if the country voted for brexit on june 23. cameron: do we sign trade deals faster inside or outside the eu? +++ from inside the eu because we have -- not only is this agenda very much and eu agenda, but we have the abilit

alibaba is also the key investor.8 million hit from negative interest rates paid they expect death rates. they expect in a percent rise after the unexpected drop in earnings. they will report later today. and some less program and a negative rates have failed with inflation and japanese stocks are little changed from two years ago. we will go to juliette:. juliette: i pretty good morning session. we are going on the lunch break up by one and we have good moves. coming through from the export companies, coming out with earnings today, this was variable on friday. but it is very strong with games coming through there. weakness from the pond. -- mabon, they are under pressure credit and the asian market is down by a quarter of a percent, still looking at chinese stocks holding your these two-month lows. they are looking at data over the weekend, now holding sentiments into today. of three quarters of a percent, as you can see this is one of the best performers. board,ot see it on the but there have been a lot of energy p

also with alibaba. another we have seen in correlation with the oil is chevron. appreciation of the stock has come up way you where it flows were. we've seen a lot from apple, alibaba, and chevron. you are classically defensive. looking at what you like at the moment, you have at&t, wells fargo, and ford. christopher: yes. i think that ties into two things. the yield on these stocks have been decent, that 3%, 4% level. we have seen our customer base that td ameritrade asia, adding to these positions over the last month as a net new buyers of these stocks. on the hole in april, our customer base has been a slight net new buyer. i previously mentioned the apple, alibaba, on the sell side for our customers at this point. rishaad: christopher brankin therefrom td ameritrade. >> checking on stories from headlines around the world. donald trump has one the west virginia primary a week after driving his competitors out of the republican race. -- despite ted cruz remaining on the ballot, he mentioned he might rejoin if he will does well in nebraska. the u.s. navy has a s

scarlet: coming up, alibaba being investigated by the sec.ivision of the e-commerce giant ray -- raising huge flags for regulators. ♪ scarlet: this is bloomberg markets. i'm scarlet fu. alix: and i'm alix steel. julie hyman has a look at today's big ipo. this is the largest corporate ipo this year, excluding any kind of spin off, shares are up 7% on the first day of trading. 44 point 4 million shares priced $4.9 billion -- it's going little higher today. it is a food distribution company and it was taken private 2007 at the peak of the buyout room. those terms not selling shares in the ipo. if you look at the timing, we have seen companies that have come public perform relatively well. the a look at this -- russell 2000 is in blue versus a bloomberg index, so as you can see, since these ipos have been relatively small, there has been out performance there. it looks like u.s. food is coming public at a good time. looking at how its competitors have been doing -- looking at sysco, both of them have been higher as well. when you look at the envi

and with the funding in place, apple joins the likes of alibaba who have been strategic investors in this company. tim cook has framed this as an opportunity to get a better sense and to learn more about certain markets in china. this comes as apple looks to reinvigorate sales here in china, the world's second-largest market. sales in china slipped 26% the last quarter. apple has been under tremendous pressure from chinese regulators. the ibooks and itunes and movie store shut down in china last month. speaking of bbchu ching, a company valued at $25 billion, they've been lost in a very heated competition with uber but they are the dominant player here with 87% market share, 11 million riders a day. they've expanded their service as recently, not just to include private riding but also buses and chauffeurs that drive cars of these users. certainly investors have been speculating for some time that apple could be entering the car business. today's announcement that perhaps another hint of apple's larger strategy moving forward, tim cook has said he's more interested in the software as

. >> and shares in alibaba plunged. china's biggest e-commerce company said the sec was looking into low it filed accounts for its logistics network and for the largest online stopping day of the year is of course singles day. suggested a buying due to its increased transparence. and joining us is christian. great to have you on the program this morning. we know amplify has an atf looking strictly at online retailers. your thoughts on this alibaba story. morg morgan stanley says it is a buying opportunity. you do agree? >> i agree. alibaba needs to have greater transparence. so i think this examination will bring to light any issues that they have. you have to be transparent if you are going to be a global leader in any industry, particularly online retail commerce area. >> let's talk alibaba's competitors. your etf has been a bright spot when we look at brick and mortar retailers disappoint okay earnings of late. but is there room fur all of these players when we talk about how powerful and dominate amazon is? are they

if nobody is growing, why is alibaba growing.hey claim they're 9% of commerce now. >> they don't seem to match up. anne, we'll follow it. thank you for laying out your case. that's anne stephenson-yang from j. capital research. >>> the clash between unions and the teleco jientd and what it means for the work force next. and also a drug that regrows hair, a medicine that heals arthrit arthritis. sound too good to be true? coming up next we'll hear from a billionaire who claims to reverse the signs of aging. you're watching cnbc, first in business worldwide. ♪ approaching medicare eligibility? you may think you can put off checking out your medicare options until you're sixty-five, but now is a good time to get the ball rolling. keep in mind, medicare only covers about eighty percent of part b medical costs. the rest is up to you. that's where aarp medicare supplement insurance plans insured by unitedhealthcare insurance company come in. like all standardized medicare supplement insurance plans, they could help pay some of what med

alibaba is cooperating.ys just because it requests information does not mean anything is wrong. ♪ ♪ david: you are watching "bloomberg best," i am david gura. earnings season is winding down, but there were still a number of major companies reporting. a roundup begins with a u.s. builder many see as a bellwether for the luxury housing market. scarlet: toll brothers ceo doug yearley has been frustrated by the decline in his stock price. today, the stock is having its best day since 2013 after earnings beat estimates. let's see what the numbers on the luxury builder show in the numbers don't lie. first, we discuss stocks. even with the bounceback, toll brothers is down 12% in 2016. over the past year, it trailed the broader market and its peers. today's results lessened some investor concerns, saying the luxury market remains a strong and conjunction labor costs are easing. tolls revenue had plunged during the u.s. housing crisis. it slowed again after bouncing back from the housing crisis. revenue this quarte

alibaba central expansion plans may have faced a set back. .e been told to clear the balancers in order to avoid having the balance is frozen. the brand that americans love to hate is going away. time warner cable had the worst customer service in any industry. survivecompany won't the acquisition by charter communications. charter said it will phase out the time-warner name. the combined companies will become america's daegis cable operator after comcast. suzuki clawing back those losses that suffered on wednesday. it admitted problems with the way it test fuel efficiency. let's have a look at this. david, you say the whole consumption issue may be a problem for carmakers in the future and a stain on their history. elaborate a bit. issues is of the main that the industry is going through one of the biggest transformation since the invention of the internal combustion engine. the u.k. wants driverless cars in the road in five years. this will be fantastically expensive getting to that stage. at the moment, they are dealing with some of these le

losing and alibaba winning? michelle: jds growth merchandise to grow as much as alibaba.rse, overall e-commerce has been taking market shares from offline sails. i think different two alibaba's management who has an optimistic view on chinese consumption going forward. jds management holds a cautionary tone on the earnings call last night. first of all, more than half of jds growth merchandise value is electronics. rishaad: sales up 9%. -- 48% up. this growthlf of merchandise value are coming from home appliance and electronics. and j.d. have been targeting high-end urban shoppers, which demand higher-quality and branded products which may be more effective during economic downturn. rishaad: you say the management is downbeat on the prospects of this but do they have a timeframe as to when things might get better and have a turnaround? michelle: they don't say specifically. rishaad: they would never actually say specifically. michelle: in the medium to long-term, i think they are still optimistic njd will still be a good start to play on rising chinese middle class and ri

we are getting earnings from chesapeake and mark but alibaba numbers out.ngs that missed estimates they beat on revenue. -- yuaan 24 billion u.n. n. the cloud revenue theyve

liz: yes we can. >> alibaba is cooperating.eryone alibaba is regarded as china's amazon, is that correct? liz: correct. stalk to any of the big four accounting firms who do business in china, they will tell you how their accounting goes. stuart: negative on alibaba are we not? tell it how it is. liz: i covered corporate accounting scandals for "the wall street journal" there you go. stuart: you have street cred there. how about ford motor company big recall of the ford f-150s, problem with the brakes. stock is going up. recalls don't count. liz: this is the country's most popular truck here. recalls not affecting ford. master cylinder brake, looking at 2013, 2014 models here. stuart: let's get to politics. we're all comfortable with politics. by the way, quickly, the dow is at another high for the day. we're up 173. okay. i'm calling what you're seeing now on the screen the implosion of the left. you've got violent protests. mexican flag being waved in the face of american presidential candidate. those protests turning violent.

alix: alibaba was put out earlier. with thelet's stay u.s. stocks seen.king at cyclical versus defenses. cyclicals still track to be the defensive company. 18%. gained about the blue line, defensive, has gained about 9%. if you look at the past year, a very different story, the defensive has outperformed. a according to richard bernstein, the ceo and cio there, he says all it takes for cyclicals to outperform is to not repeat what we saw in 2015, which was a stronger dollar and more oil prices. alix: fed raises rates, the dollar goes higher, and boom. i'm looking at what is going on in venezuela. they are selling a serious amount of gold. they cut reserves by 16% in the first quarter. that was the biggest gold sale in eight years. this is a quarter by quarter look. you can see the biggest four out of the last five gold sellers actually came from venezuela. to repay we are going our debts, it is no problem. this is what they are doing, we gold.o sell we talked earlier with the director of the eurasia was talking about whether production would falter. yes i

sandra: our thanks to jim alibaba.bag next to tesla production line. that's dedication. from music to presidential candidates, we have a guest that brings authentic mexican fo food. you don't want to miss it. the care manager coordinates all of the patient's appointments, scans, chemotherapy... one of the great things we do is help them manage their symptoms at home. we are available 24/7. we want to take as much stress off the patients as we can. my name is mena... collette jodi stacy learn more at cancercenter.com/caremanager appointments available now. >> welcome back. we're about 37 minutes away from the opening bell on wall street. take a look at stocks we're watching this morning. zynga looking to be a big winner. the game developer reporting better than expected first quarter earnings. increased ad revenue and cost cutting help to boost results. tesla shares, the auto maker ramping up production and looking to make 500,000 vehicles a year, and that has elon musk on close watch. so much so he sleeps in a sleeping