shaking off concerns about greece but the dow jones and s and p have hit intraday records. apple shares up 1% after billionaire investor carl icahn says he believes the company is undervalued. italy, france, and germany joining forces to develop a european drone project to reduce the dependence on american and israeli technology. defense ministers said they would cooperate on creating medium altitude long endurance drones for civilian and military operations to be in the air by 2025. there is a new ratings agency. moody's investors has launched a group to monitor european public sector debt including -- which is expected to grow rapidly. they will look at specific research and credit trend in several languages. samsung scored a small victory in its ongoing legal battle with apple. a u.s. appeals court agreed to south korean company illegally copied some features of the iphone but apple cannot claim damages for copying the overall appearance of the best-selling smartphone. that means a $930 million fine initially levied against samsung may be cut in half. laura: kate with the busi

tesla is basically an apple car. emily: butis apple going to focus so deeply on cars that it could make a car of its own? john: i think it could. emily: what do they want to see from apple? >> apple is going through a product refresh on the iphone and they came out with apple pay. the apple 6s will probably tweak the 6. the iphone is 70% of apple's entire sales and is by far the highest gross margin product. unless they can switch their business to add more services, which they are moving to and get away from units driving their revenue, apple will live and die by the results of the iphone. emily: what about television? where is apple making headway beyond the apple tv set-top box? >> i think this is a market they can really kill. there is 250 million tvs sold. it's a billion-dollar revenue market. apple would probably charge three times or four times the market. the aesthetics, and now with over the top coming into its own, i think it's a no-brainer. it's just a matter of time before apple can put all this in. hopefully in the

stock cheaper than the market, delivering better results and if you do a perfect, be long apple but apple looks higher. >> given how little we're moving, should it be even lower? what do you think? today is tricky because it's a day before a three-day weekend. you typically will see it fall but what's been happening the last couple days, a tremendous amount of upside call buying in the vix in june options expiring in three weeks here. when you look at that and june 18th and june 20 calls, anything to the upside, we saw about 170,000 calls bought to the upside. tremendous amount of open interest. traders out there are looking at the vix at 12 and finding ways to hedge a portfolio in case we have a summer doll drum and pull back in the market. >> or in case something happens at the next fed meeting. >> when you look at where the vix has been bid, everybody has dismissed the idea there would be a rake hike in june. what's a sensible way to hedge that, you see it actually out in september and december. if you look at that part of the term structure, the same pattern is exhibited. what's going

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the dollars are obviously going somewhere else. >> but they're going to apple. i don't know where they're going, but not going to any other retailers. look at the disasters that we've seen just in the last week. we've seen urban outfitters, look at that list. t.j. maxx did a nice job and even home depot. but home depot raised their guidance for this fiscal year to what they basically had before when they cut it back in february. they bought $4.5 billion worth of stock already. so to me you have a lot of financial engineering here, you don't have a lot of sales growth. >> would you agree? >> i thought that the walmart stock reaction was kind of overdone. when you think about walmart a company this size, that was a very big move on what i didn't think was a monumental miss for that big fx i realize. >> were you tempted? >> not really because it's cheaper than a lot of other things, but not so attractive to me. i do think, though, that the customer isn't spending at walmart and a lot of other retailers replenishing savings that we talked about. but i don't think tha

it was not growing but it was profitable. apple had not been profitable in seven years so that yes they shrunk the it was smaller, but at least they were in the black for the first time. so that was good. i wrote a story back then called the grainy prints of a shrinking kingdom and this one really upset him because -- [laughter] we took him make them look old in all the pictures and everything. [laughter] a little thing in magazines that people do. it was good because you can't remember, this company was not growing. there something wrong with this picture if it's not growing and that's why the stock price isn't going anywhere. i just remember that vividly because he called up and he said do you have to compare us to liechtenstein? [laughter] sorry steve. >> so he sold the company -- keep hold of the company back on the brink and is doing something simply love to talk about. destabilize the company from 97-2000, and then because we all lived through it, i think it's just interesting to line up the highlights of everything that happ

using our apps, we're continuing to develop apps and experiences, we're working with apple, but other> so more from apple and nike? >> more from apple and nike. two great brands, lots of potential and opportunity and that continues. >> that was an important statement, at least for investor who is like to see the two companies, both at the top of their game right now, doing more together. i mentioned that tim cook actually sits on nike's board. he has over the last decade. so many people are expecting bigger things and bigger collaboration. but it is an interesting question, guys, with the apple watch. nike plus is an app in it. but apple obviously has its own functionality when it comes to fitness applications. i think mark gave some pretty good hints that there was more to come between this partnership. >> he certainly did. another one of the interesting parts i thought of the interview you did is when you asked him about jordan spieth, you asked him about steph curry and how did nike miss out on these top athletes, letting them go to under armor. what did you think of his answer? wa

i keep coming back to the car because that such an enormous opportunity for apple, but after revolutionizing the smart phone, reinventing the pc, now with the apple watch it gives them another chance, i would say, to be invigorated. emily: cobie, how easy is it to hand the reins to other people? conbie: incredibly challenging as a designer. jony represents designers and that he is passionate and does not want to give up control because giving up control means giving up a direction he would want to follow. at the same to him, it's kind of necessary. i agree with these guys. in order for apple to cross all of the different things they want to do, he needs to take a larger role where he is touching everything. emily: it seems jony ive's signature has been to focus on supposedly to the extreme. do you think that will change? guest: not at all. he will just look for more projects in which to do that. emily: can others carry that on? guest: he has built a design language and system they are familiar with and can carry on. alex: that is one of the enduring strength of apple. if you go back to what

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but he holds apple, which you obviously like. love every product apple has, but at $700 billion market cap, i have troubles understanding how it's going to go to $1.4 trillion in the next three years. but apple tv is here to come and the watch is something i'm looking at like dick tracy did. >> i think the last time were you here was maybe the day off or the day after the costco amex announcement and we spoke of it then. you spoke positively about it. but i think at the time you said you had maybe bought more on the pullback? >> and actually, 78 to 82 is where the stock is that's more or less where it is today and i still think american express, one more year into it, will do better. i mean the currency is incrementally in 2016, over 2015 is not going to be as bad as 2015 over '14. and gasoline prices which will have an impact and consumers will spend. >> can i ask the doctor one more question? ups, how about that one? it's been about the holiday quarters and now they're out of that. obviously. can they continue to grow and show

google did it, surprised everyone, a very big task, but apple certainly has the resources to do it if they want. emily: how long does that take it apple is coming from so many years behind? >> years and years. google started their project in about 2007, 2008. you can argue they are still building it out. that becomes an issue for companies that have not started in this, to start from scratch and build your own is a long process. emily: talk about the specificity you were talking about. there is a difference in knowing what street you are on and what lane you are in. who is farthest ahead in that way? >> think about this plane that's when you are looking for something, where it is. the next level is the data that allows you to navigate. you can take a left turn here. that stuff is fairly common in most data sets. the highest level are these things called hd maps and that is going to automotive systems. google is working on that and no kia. if they go to someone in the internet mobile business, that may put the automotive guys in a real issue. emily: why would companies want that data?

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but apple and google say the apps can be controlled by voice or a button push. >> reporter: it is a coolfor baseball. oakland a's and giants are playing tonight. it's 65 degrees and fairfield. with clout and possible drizzle tonight. tomorrow morning will start of school but it will clear faster with warming temperatures allowed to come through. >> reporter: here is a look at the future fast futurecast corporate coming to the livermore and concord area over night and tomorrow morning. but the marine layer is pretty much pressed sleep is the fast clearing and more sunshine creek with a few more '80s. >> reporter: it should be pretty good way to finish off the work week. los 70's and union city. had it the other east look at these 84 antioch and brett lloyd. here is a look at the 7 day forecast. the bay was the critical with temperatures in the upper 50s and faster clearing. >> reporter: on sunday to cool down will begin creek with chances of light drizzle on sunday morning creek. you were >> reporter: see that we are back monday. >> pam: and learning video of a pregnant woman being arrest

. >> and parents are famous for giving their kids unique names but apple and blue ivy have nothing on these. according to the stir, here are the popular products and companies making their way to the first name slot. very fancy ones, like armani and aston and chevy like the car. and del monte and espn. it's apparently pronounced es-pen. and nutella. and lexus. and sephora like the store. >> facebook is not a name. nutella vitarelli has a nice name. >> that one gets a pass. >> lets get another check of the roads right now, matt pellman is here with an update. >> you can't get enough nutella. >> right. we can get enough of this, a crash on 95 we wish it wasn't here, southbound side past ridley park and it's all off to the side and a lot of emergency crews are on the scene and attracting attention on the southbound side to the blue route and a slow go from past the airport and ridley park, watching a crash indelco here in radco township. a typically slow afternoon on 95 and the schuylkill expressway, lets check out the schuylkill by the vine street indeed slow in both directions and i wa

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but what it really means is that they probably should be distributing some of it. alix: we pretty much talked all day about carl icahn making this buyback call for apple, but somethinglse significant happened to them today, they won a patent case against samsung where it was proven that their products were using on samsung phones, for apple, which was more significant? cory: absolutely the patent in. the idea that a minor shall -- minor shareholder thinks the stock will go up is not a big deal or anything do for this company, but the patent thing is a huge deal for them. it was a big win for apple in that the bulk of their case against samsung was upheld by a higher court but also a big loss , because part of the court ruling today is that they had to have a new trial on damages, they said that the damages awarded for stealing essentially the look in the feel of the iphone were not fair and not fair to samsung, that samsung was allowed to copy the look and feel, that there were certain engineering things that samsung absolutely stole and the higher order agreed with the lower court, samsung intentionally and illegally took some of the designs of apple and apple engi

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around the pc business, intel, but apple's pc numbers look better and better.it is a quarter where students are rushing out to buy new laptops and it is a positive sign going into the second half of the year when we get to the new school year. cory: they will have these new macs available with four to six week delays. the last quarter, 10% year over year growth and this has been in they are coming off 2114 -- 21-14. new products hit the street and dell, hp, they would kill for 10% pc. they would kill for 5% pc growth. >> i think that we are seeing an interesting moment. we are seeing a moment where the mac platform is the computing platform that is expanding far beyond people that have been interested in the platform for a long time. we are seeing it now lead into business in new ways. we are seeing it bleed deep or the consumer and new ways. it is not just a premium size of the market. cory: crawford and bloomberg's tim higgins. the man responsible for the look, the feel, and the experience and beauty of the android. ♪ cory: we are heading back to bloomberg bu

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i think it's a, apple is a different creature in that regard. butd to be in discussions with the broadcasters to placate them, to give them assurance they're helping them build audience. >> kara, are you talking about the nbc or the cbs affiliates here? is this just part of -- >> yup. >> because these are popular channels, it's not revolutionary to want to put local news on the television, that's what large swaths of the population watch every evening. >> it's not just o & o. there's a lot of o & o in the big cities, all over the country there's all kinds of great local programming that people want to see. this is what they're trying to offer. because there's so many local places, it's quantumly more complex to do. >> up next, twitter investor chris sacka could be ready to show the company tough love. in a blog post he wrote i'm soon going to post a few things that i personally hope the twitter team will accomplish. i want to make it clear that my feedback comes from a place of loyalty and persistent gratitude. i love twitter. he says he doesn't hav

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