the former head of skype, josh silverman, will replace chad dickerson as ceo. on the surprising ceo change news. back over to you. >> a stock to track today. thank you. >>> 4:40 right now. if you're sick and tired of traffic in downtown lafayette, you have until the end of this month to vocalize something about it. the city has put up a survey with 15 ways it's thinking about reducing congestion. it includes coordinated traffic signals, more signals and one people can vote and comment on the options they like. the winning options will be considered as part of the city's development plan through 2040. >> it's 4:41 right now. if your shirt did not completely stick to the side of you -- >> that sounds pleasant. >> there's an opportunity today. >> we're going to have a mild start, looking at the temperature trend for cupertino. 9:00, already in the lower 70s and head nothing to the upper 80s as we go throughout the day. more sunshine, hot weather, but there will be a break. we'll talk about that coming up ny9ñ >>> and following up right here, the san mateo bridge,

board member josh silverman will replace chad dickerson as ceo. the shares plunging more than 60% after hours on that surprising news. your cnbc morning business report. i'm courtney reagan. >> thank you. >>> depending on where you work, your summer internship may make more than you do. glass door.com said some summer interns earn more than that double the average american worker. most of these internships are at big name services. facebook will pay the summer's interns $8,000 a month. microsoft interns are the second highest, $7100 a month. third place to exxonmobil interns who receive just over $6,500. the average american only makes a whole heck of a lot of money. >> i look at our interns here. they actually work. they're not making coffee and they're out in the field, sweating, doing work. >>> the news4 team is going sugar-free. you've seen our facebook diaries and our posts. it turns out your brain can benefit from cutting out the extra sugar. >> of all the sweets we love, could can impact our memories later on? >> we'll break that down. >>>

the founder left the company and they brought in this new guy chad dickerson.e ceo for the past six years. he is interesting because he is kind of a little bit like the founder. he is a former journalist. he worked as an engineer at salon.com. basically he had this idea that etsy could be both socially conscious and ambitious as a company. carol: up next, financial future of augmented reality camera filters. oliver: this is "bloomberg businessweek." ♪ oliver: welcome back to "bloomberg businessweek." snapchat is unveiling new camera apps that they hope will keep it ahead of facebook. reporter: everyone is hoping this will be the next facebook, and there are just as many people who worry it is the next twitter. snape wants to come out and say they are neither of those things, and that they are something totally unique and should be measured on a different scale, which we don't think they will be lucky enough to get that treatment. they certainly didn't after their earnings and stocks fell more than 25%. oliver: that is what i was just about to say. the editor of

chad dickerson leaving. >> yeah.man coming in there, a senior executive at american express who i happen to know well. but the market not reacting well to the numbers there, correct, not to the actual change in ceo at this point. i mean, i guess they're potentially connected. >> yes. we'll see. etsy did break even, missed by a penny. the revenue was a miss as well. jim, you have been consistent on etsy in the last six to eight months. >> yes, i have been. i felt they could be the craft oriented amazon. the last three quarters had been just okay. what i find most interesting, this is the largest employer in brooklyn. what i find most interesting, this was chad dickerson's company. he was talking about the greater good, doing greater things. being bigger than the company. well, the board obviously didn't feel that way and i think the board got fed up. i think it was a shorter leash than i thought. david, cfo leaves, ceo leaves. almost as if they want this company to become a bigger company and not so seat of the pants.

chad dickerson who is been there since 2008, ceo since 2014 will step down.erman will take over, a board member. fred wilson will be chairman of the board. at sea reporting this as revenue rises less than estimated, sending shares down sharply. over the pastup 12 months over a. erasing some gains, down 15%. apple second quarter matters but the intention should be on the iphone repressed. gurman,ing in mark bloomberg news tech reporter from our san francisco bureau. mark, griffey to join us. as old intention going to be on this the radical iphone super-cycle coming? mark: absolutely. as you know, joe, covering the company in the stock market for so long, this happens every year. [laughter] when they started announcing new iphones are in september, october towards the q4 quarter, everyone paid attention, going from q2 to 23 on the phone. that will come up toward the end of the year. they whine about a lot of the anticipation for new products numbers. everyone's eyes on this q4 iphone, and the next q1. at some point, the company will have to break out of this cy

they issued a letter saying they hoped to separate the positions, but chad dickerson is leaving as ceoow, and josh silverman, a board member on etsy takes over, holding positions at american express, skype, and shopping.com. fred wilson is chairman of the board. look at the earnings, they report flat earnings, just a slight miss. the street hoped for a penny there, and revenues also light, but you can see the stock is down sharply, 14% on the news of the ceo departure. no gieuidance. they'll let the new management team look at the company as a whole and then look at the guidance when they give us their earnings for the second quarter. back to you. >> that is a welcome for the new ceo. molina ceo leaves and the stock is up. different responses there. weight watchers' earnings. >> strong for weight watchers, stock up over 100% in six months, a strong quarter for the company. going through the earnings eps. coming in adjusted at a penny lost, better than expected. revenues beat as well. weight watchers is benefitting from a tax benefit, they say, in three months, subscriber growth up 16%.

. >>> shares of etsy are down sharply after the company reported a revenue miss saying chad dickersonepping down and josh silver main will take over as ceo. no earnings per share in the first quarter. analysts expected earnings of a pen my per share. partially because i stopped mac macrometing my jeans. >> i could have bought some? i know you wear those. >> sorkin originals. yes. yes. my signature -- >> you have to put some mud on them. like that -- don't people put mud on? >> that's on jeans. >> a little bit more news. uber and google will be facing off in court today. the tech giants going head to head after waymo sued uber. waymo accused uber of stealing intellectual property and infringing on patents. a lot going on there. >>> 5:may teakamai second notec releasing results of the bell. beating on the top and bottom lines, but issuing weaker guidance for the second quarter. the stock was down by 13% in late trading. joining us is tom leighton, co-founder and ceo of akamai technologies. your quarter that we got through was a good one. the guidance is what the street was worried about