you, cory johnson. meanwhile, the m&a barrage continues with today's time warner cable deal with a whopping $55 billion, $199 per share. big share and charter can -- chartered medication. let's take a quick look. scarlet: i know you were going right there. that's interesting, too, because time warner had seen some ball the movements after the comcast deal did not go through. you wonder if this is a burst of activity before the air goes out of the bubble. i always think of 2007. there's all of this dealmaking and investors reaching after high after high after high. joe: i think it's one of these m&a,s where when you see it seems like there are deals all the time and that can signal the bullishness in the market, reaching higher levels. but i think it is also dangerous to draw lines between this and other historical times. 2007, we saw the deteriorating economy -- scarlet: totally different. joe: insane speculation. it was very different. but you kind of want to look for these things as an analyst, to see

joe: thank you, cory johnson. meanwhile, the m&a barrage continues with today's charter/time warner deal to $59 million or $195 a share. let's take a quick look. scarlet: of course, that is interesting because time warner has in some volatile movement after the comcast deal could not go through. you wonder if this is the last burst of m&a activity before everything comes -- you know, the air gets let out of the bubble. i always think of 2007 when there's this frenzy of dealmaking and the indexes were reaching high after high after every single day. joe: when you see him in a kick into higher gear and it seems like there's deals all the time these days, that seems like a signal of perhaps the bullishness in the market reaching higher levels, but i think it's also dangerous to try to draw too bright lines between this and other historical periods. 2007, we sought a deteriorating economy. so much more leverage in the system. we saw this insane speculation in oil at that time. very different. but as you point out, you

i'm cory johnson.e bring you the best interviews, global players in technology and media which lead to our sales. for more oracle executive has received a takeover offer and looking to financial advisors to vet the offer. the largest takeover in the history of technology. the choir has not been identified but the top list who can afford to buy the company is a small list, oracle, microsoft, ibm. but who once the behemoth sale? we will talk to brent. >> the board has to make a decision and their decision is to evaluate that decision an offer on the table so that is why they engaged the experts to look at offer. the business that shows tremendous topline growth and also a business that has zilch for-profits, zilch over the last five years of cash flow and if you look at what we know, you look at growing the business they do it by expensive acquisitions and spending a boat load of marketing and that's why there's no markets or historical cash flow. they will want topline growth at the expense of a lot of

joining me is cory johnson who broke the story and the ubs managing director. i have been thinking about this and i'm skeptical. cory, you first. you helped break the store. cory: we know what we know which is there is an offer on the table and they hired bankers. benioff has a bunch of options vested right about now. the board has to make a decision and evaluate the offer on the table. that is why they engaged these outside experts to look at the offer. but it is an interesting business. it is a business that shows tremendous topline growth but slowing dramatically. it is also a business that has zilch for profits, zilch for free capital the last five years. look at how they have grown the business -- doing expensive acquisitions and spending a boatload on marketing. that is why there are no profits. someone who buys this is going to want topline growth at the expense of a lot of earnings and the expense of a lot of money. emily: you have covered salesforce for a long time and you share my skepticism. brent: i think it is going to be tough to pull this off. thi

i am cory johnson.le rush to interesting items. the tv business -- a redesign of their tv remote. they are unveiling it at a developers conference next month according to a report from "the new york times." also revisiting the music practice. they're are pushing music labels to take their music from streaming places like spotify. just what will the new service look like and does this remote even matter that? alexandrina from san francisco. let's look at remote thing first. -- alex joins me from san francisco. let's look at the remote thing first. is this what was alluded to in the steve jobs biography? >> it seems like we have been down this path before when we have been expecting an update only to be disappointed in the end i a lackluster refresh or no change in all. this time, there seems to be enough anecdotal signs that we are coming into a new remote and hopefully a new interface as well for apple tv. it is really about time for apple. it has fallen grossly behind in this market. you just has to go

joining me now to talk about fitbit is cory johnson. cory: i cannot believe how big of a business it has become. we were just showing video that showed someone with a fitbit. this has grown into a big, profitable business. just look at the revenues from this business. as you mentioned, 740 $5 million in 2014 -- $745 million in 2014 and growing at about 172% year-over-year. the number of devices they sold 10.9 million in 2014 alone. a huge jump from the 4.5 million they sold in the previous year. the number of devices is huge. revenue is huge. profits are fantastic. they are doing 48% gross margins. the profit margin is 28%. it's a very profitable business suddenly for these guys -- a very profitable business suddenly for these guys. this is a big, profitable fast-growing technology business. they are reportedly trying to raise $100 million. with all the big revenue numbers last year, that was the same year they had the recall of the fitbit force. one might imagine revenues would have been even better if they had not had problems with tha

cory johnson will look at those. cory: supply materials make the big machines that make the big semiconductors. they are doing a bit better. from $2.36on, up billion the year before. profits, $364e, million up from $348 the year before. a 6% increase in profits. that is certainly good for the company as they grow their profits and their margins get better. direction for the next quarter is indicated to be pretty much what was expected. things look pretty much improved for applied materials. again, a little bit better on sorry,fit line -- i'm the revenue line of 4%. 6% better on profits. margins are getting better for applied materials. it looks at it looks like a pretty solid beat on the same-store sales. julie: on the earnings-per-share, $.66, whereas 71% was estimated. -- $.71 was estimated. otherunlike the department store retailers we have heard from thus far, macy's and goals, both of whom missed on those cocktails numbers, and jcpenney missing very slightly -- those cop sales numbers and jcpenney missing very sl

olivia: thank you so much, cory johnson. pimm: thank you, cory johnson.ll ahead on "bloomberg market defeats nelson peltz. the reaction from dupont's chief executive is next. ♪ pimm: this is "bloomberg market day ago i am pimm fox. for the latest, let's go to john farrow in london. i'm going to start the trading day right here in the fx market. germany missed estimates, but the headline number for the eurozone came in line, and the market disrupted that off for the rest of the day. higher against the 1001 -- at 1.1354. look at the dax rollover through the session. higher, higher, higher, we go lower, lower, lower. in european day equity markets in mainland europe, painted red once again for a second straight day. is off by 1.2%. stronger eurozone, stocks slower. euro gets stronger as stocks rollover. the yields higher on session, up by four basis points with the yield on the 10 year of 0.1%. back to you. thank you very much. let's take a look at top stories. the second to a weak start. retail sales were little changed in april. americans were reluctant to

thank you so much cory johnson, bloomberg editor at large.wraps it up for today, thank you for watching the bloomberg market day. alix steel, we will see you tomorrow. emily: google is going head-to-head with apple pay. and they are that big on their virtual reality boxed. i am emily chang and this is "bloomberg west." the new york city once the power to approve huber and lift app updates. pandora's plan to expand it to news, weather, and sports. i sit down with their finder. pebble's ceo is here with the new smart watch and we will compare it to the apple watch.

means, i want to bring in leslie picker, eric newcomer is here, as well as our editor at large cory johnson. cory, i want to start with you because this is a different kind of investment for carl icahn. why is carl icahn first of all investing in a private tech company, and why lyft over her? -- over uber? cory: let's think of all the reasons, one, he is wanted to make money. carl icahn has been a moneymaker, but a company builder not by any stretch of the imagination. he likes to look at what he thinks can be better that he can make money. 30 years ago, 30 years ago, he had borrowed money to help michael milken and drexel burnham lambert to help one of the corporate raiders taking over twa, and they broke up little pieces, selling it off. the company did not want to go through this as there were protests and complaints about all quarters, but he broke up the company so he could pay off the debt, so twa could be a different company going forward. that title of corporate raider has stuck with him, even 30 years later. this is an unbelievable different investment from a man known as breaking

emily: pat, katie kevin, cory johnson. thank you always.n today's attention of drive, uber has indeed carnegie mellon's robotics lab poaching 50 employees from software developers to high-level executives, all of this according to the verge. in february, uber and carnegie melon announced a strategic partnership. uber set up shop next door to them. uber is moving into the advanced technology center. it looks like that partnership may have been a job fair. we reached out to uber for comment and have not heard back yet. up next, meet jeff bezos's new shadow. we will take about the elite job and in the woman who is filling the role. ♪ emily: a developing story we are tracking today. senator rand paul protesting a renewal of the patriot act. is it all for show? the senate has not taken up the bill yet. it technically is not a filibuster. they are set to vote tomorrow on legislation that prohibits the nsa from collecting phone records in bulk. to a big shift at amazon. for the first time, jeff basis is right hand band is a woman. renz was named a

cory johnson with us for more on the results. what are the highlights here? y did pretty well this quarter? cory: i know you are a big grand theft auto fan. still, they have then hand in glove in terms of the success or failures of the company. what interesting about the results this quarter, revenue is up year-over-year. adjusted up 150% in the same quarter. the story of take two has long been thus. they need a second game. what they showed in this quarter was a second game. called evil. a first-person shooter game where a bunch of people fight monsters. it's a second leg of the table for take two. it was very successful. the other big thing was the success they had in digital. they sold more games through digital downloads than to the sale of discs for the first time ever. that's a huge deal not just for this company but for the gaming industry at large. it shows digital distribution for take-two interactive was the dominant business and the first time they have ever seen that. emily: what about mobile? how are they doing when it comes to mobile? cory: it's

bloomberg editor at large cory johnson joins us now from san francisco. , what is all of this about? there is anry: airline once upon a time called twa, and it made carl icahn famous because he borrowed a ton of money with a little bit of help and then bought the company and broken up to the great offense of many people. something of that was the inspiration of the movie wall street and the character gordon get-go -- gekko. that was the carl icahn, company destroyer, wall street icon, that he became and that kind of thing. here we are, 30 years later, and carl icahn has taken the role of venture investor? yes. taking a stake in lyft -- taking as a privateft company and helping them to grow their private business. the eventually in some sort of financial transaction. betty: it is hard to that against carl icahn at all -- cory: well -- obviously, he has been successful, cory, but as a venture investor, i have heard about him every day now, and i just heard from a big-time investor who said that uber is not worth $40 million -- $40 billion. this money is goin

the google annual developer conference is going on right now and cory johnson has been at the event allcap some of the highlights, what were the standouts that google is really trying to move to? cory: we will call them the highlights for this event. they were a couple of products that they talked about in the past, we kind of knew they would come out today. those include a new android operating system called m. they talked about a new addition to google wallet or a new word for google wallet. it will be tested in the same places. you can watch hbo go on their google play devices. those announcements, the things they talk about in their keynote event. product announcements are not the point of this event. the developer and the people that work on this most used operating system in the world. it's a place where they meet and talk about these things and develop ideas around them. this announcement, not so much. alix: you seem unimpressed, i have to say. this is a few weeks away from apple's own developer conference. where can google stand out? cory: by the way, they are coming to take me

emily: i want to bring in cory johnson who has been and google all day long. it seems like a lot of the things are playing catch-up to apple. android pay, some of these voice recognition features, hbo. what is your take on that? cory: i think you are absolutely right but i think that the way that google does these things is very different. nothing was announced here today. our new operating system that everybody knew was coming and they had given away most of the features in advance. -- a new operating system that everybody knew was coming. a new way to pay that is similar to what the wallet was. google work with a series of produces of their handsets, they work with many manufacturers. appleworks with one manufacturer, it is apple. it is a very different ecosystem they are trying to support. this is a place where developers want to come to find out the latest, i just went to a session in there where developers were learning about when to have a notification button and how you should program such a button. that is a very different thing than announcing a new i

mark: cory johnson from san francisco with airware ceo jonathan downey. drone investment fund.ty: exactly. there will be an investment for almost anything now. as they were talking about, this is a huge market. investmentsplus over two dozen? before you know what, we will be watched from everywhere. mark: then there is the regulatory thing. betty: i will leave you with that thought. up, do the new banking regulations go too far to hurt the u.s. economy? we will look at a push from senate republicans to roll back some of the rules that were put into effect after the financial crisis. ♪ back to thee bloomberg market day. i'm mark crumpton in new york. let's get you to the top headlines. iraqi forces on the attack today against islamic state. confirmofficials operations are underway near -- the militants outnumbered 10-1 drove government troops from the city last week. shiite and sunni fighters have joined the counterattack. it hasitia group says arrested hundreds of militants. new plan calls for more countries in europe to take and migrants from africa and the middle east. up to

i'm cory johnson. here's a check of your headlines. mike huckabee is the sixth republican to declare for the 2016 presidential race. he announced from his hometown of hope, arkansas. mike huckabee: the government is dysfunctional because it is becoming the roach hotel. people go in but they never come out. cory: he also ran for president in 2008 claiming a victory in the coveted iowa caucuses. shares of herbalife are soaring after they posted a 5% gain in first-quarter profits. revenues of $1.1 billion. sales in china were strong rising 21%. in every other geography herbalife saw sales decline. bill ackman called the company a pyramid scheme. groupon posted a $14 million loss in the quarter. sales fell 1% in the first quarter compared to last year. they blame currency headwinds. electronic arts reports lower sales in the fourth quarter. the maker of fifa soccer says it is boosting its shares buybacks to $1 billion. two nevada residents have sued manny pacquiao and his promoters for not disclosing a shoulder injury before his big fight

you, all right, thank julie, and we have numbers with cory johnson.hese in my not put model yet, but revenue of $1.51 billion, a 23% increase in the year over year basis for salesforce. beat thenote that that analysts' estimates. it was about what they predicted, just a little bit outside of their guidance, and this is an important number for salesforce, because it tells what people have ordered but have not collected on. at 41% on a year-over-year basis. and the effect of the dollar hurting them, about four percentage points again, so year-over-year revenue, had it not been a currency was flat, it would've been 27%, and the currency helps them. ,e will call it 23% europe year demo one point -- year over year. as i sit down to the income down to the- zip income statement, their operating results, the net income -- i take it back. on company made $4 million $1.4 billion in revenue, $1.5 billion in revenue, so barely profitable, a huge marketing expense, not a lot of big surprises there. i will continue to look for some nuggets, because salesforce alway

cory johnson is in san francisco. it looks like a strong report. we heard no comment on the deals. t they are 1000% focused on customer satisfaction. cory: that's a lot of percents. that's like a hundred percent focused 10 times in a row. here is the big take away. if you want to compare it to what the analysts expected, it's better than that. it typically is. the reaction in post market trading is muted. last quarter, the stock jumped 12%. the next day it's down 5%. right now it is up 2%. we will see how it shakes out in trading. what we saw is while better than , expected, it has dramatically slower growth. yes, it's the biggest first-quarter they have had, but it's only 23% bigger than one year ago. compare that to one year ago. 37% a year ago. so to go from 37% to 23% sales growth that is a lot slower. it is different growth potential than what we would have expected a year ago. one of the reasons from that is that they spent less on marketing. the big knock on salesforce is that they spend so much on marketing, 52% of revenues. think about that. that is what they are putting in

cory johnson is live in san francisco for you. oks like a strong report, we did hear from the salesforce president, no comment on the deal but they are 1000% focused on customer satisfaction? cory: that's a lot of percent. that's like 100% 10 times in a row. here is what i take away from the earnings report. compared to what was effective they would do, it's a little bit better than that, it typically is. the reaction in post-market trading is very muted compared to what we usually see. last quarter the stock jumped 12% and then down 12% of about 2%, we will see how that shakes out in trading. what we saw from this company is that while better than expected it is dramatically slower growth . yes, this is the biggest first-quarter they've ever had, but only 23% bigger than a year ago after acquisitions. looking at the monitor that's 37% one year ago. opening at 37% to 20%, that is a lot slower. it's a very different business with different growth potential from what we would have expected one year ago. one of the reasons for that is

cory johnson, our editor at large, has the numbers. i have not put anything into my model yet, but let me give you the headline numbers. rather than $1.51 billion, a 23% increase on a year-over-year hass, i'm sure the company beat analyst estimates, but i will tell you what the slowest year-over-year growth is the we have seen in recent memory, a sale of what about they predicted just outside our guidance. deferred revenues, an important number for them, it tells them what's important and what they have collected on, that was at 31% year-over-year. they are talking about currency effects and the dollar hurting them by about 4% again. your revenue increase, had it not been 20%, but of course currency helps them. it 23% call year-over-year to $1.51 billion, booking deferred revenue, as you will, at a faster pace. zipping down to the income statement what we see is a business that, no shock as i look at it, lost money. the operating results of net income -- i take it back, the company made $4 million in the quarter. $1.5 billion in revenu

emily: all right, leslie picker in new york, eric newcomer and cory johnson with me in san francisco. we are interested to see how this icahn investment plays out. in today's edition of drive google's self driving cars are about to hit the open road. check out this new video of a prototype that actually will be on the streets of mountain view california starting this summer. here's the lowdown -- they cannot drive faster than 25 miles an hour, and a human driver will always he on board. the lexus suv fleet is already self driving about 10,000 miles a week, and the cars have loved the most one million autonomous miles since google started the project. there have been 11 center vendors, but reportedly from human error. the vehicles will not have too far to go, the test track is in mountain view, which covers about 12 square miles. coming up netflix may be on the brink of finally cracking the chinese market. how so? that story is next. ♪ emily: netflix wants a piece of the chinese market, and it may have finally found its way in. according to people familiar with the metal, netflix is ho

mark: cory johnson -- cory: we did not talk about the secret menu. one more thing.o you know about the secret menu? you go to in and out and there are things not on the menu. you can ask for it. mark: it's not a secret. cory: there is animal style, well-done fries, ask for the flying dutchman. i go protein cap and style. wrapped in lettuce. you are making me hungry. mark: cory johnson, thanks. ♪ welcome back. american, delta, and united continental holdings speaking about their claims that the 2 billion housing government subsidies have given an unfair competitive advantage to three persian gulf carriers. in the last hour, the ceo fended off those claims. >> i think they're just trying allegationsnd the that there are making against us for their failure to provide to the passengers the high standards of in-flight product from the high standards of cap and products, the high standards of in-flight service and attention that we provide to the well-deserved american public that fly on qatar airways. mark: matt miller is here with more on this war of words. how is the f

stephanie: let's get straight to cory johnson, who is in the house and alex on the phones. t's start with you. cory: alex, props to you. alex: thank you. it was poopoo'ed by the ceo. people paying attention realized he was hedging his words when back in january, he had to have a significant acquisition talk with aol or anyone else with that matter. what is significant is the buzzword or we were early breaking this story back in january. there was a little finger-pointing and then came back around. aol, $50 per share, a low was trading at $50 per share a few months ago. the deal comes together at this point in the two sides are fairly happy with each other because a large company that buys them out and to some degree ends the misery a little bit. a great job turning around the company. he may be thought while we have so much here. stephanie: you mentioned the sexiest term out there, programmatic advertisement buying. too many, it means a whole lot of nothing. to every cmo at a major company out there, that is so important. cory johnson, when people talk about well-being this

cory johnson and i spoke with parker conrad, the c.e.o.ts. >> basically a lot of businesses out there are going after a couple thousand of the largest companies in america to sell them business software. we are going after the s&p 5 million. there are so many of these companies out there that there are a lot of people we need to have conversations with and get pitches to and field questions from. that means there are a lot of folks we need to hire. long-term, the business looks very profitable but a lot of those costs are front-loaded so when you want to go very fast and very far, you're going to burn a lot of gasoline. this car that we're driving at high speed and we want to get a lot of customers, we have to make the mother of all pit stops to fill up on gasoline and beef jerky. emily: i appreciate the metaphor. we have been speaking a few time over the last year or so. a year ago it was a $100 million evaluation. how do you as a ceo make the decision to make on -- take on this kind of responsibly? >> definitely, you know, there is a lit

olivia: what sort of effect will this have, cory johnson? ry: he has been the guy at the heart of the design process for decades now. the design process that created things like the ipod, the iphone, the macbook air, the apple watch. those are functions of a design team that has been led by jony of his peculiar these, has led this company to create some of the most loved products ever. stepping away are stepping up to be a leader in design, but not actually a practitioner of said design, it will certainly mean some changes in apple products of the future. y, i wonder if you can tell us more about jony ive. he loves the design -- he likes is aston martin db9 so much he wrapped it around a tree at one point. what does he do it apple? is the guy that when steve jobs came back to the theyny, with jony ive, designed these products around the principles jobs at talked about for years. these ideas about simplicity, personality, people knowing how a product works before they have ever used it. and that really matches well with his own design concept

betty: great to see you, cory johnson. tomorrow, moving and shaking on the vegas strip.ets what it wants. it is buying tropicana. it's a bloomberg exclusive. ♪ >> live from louvered headquarters in new york, this is a market makers" with erik schatzker and stephanie ruhle. erik: mcdonald's promises to stop the bleeding, its new ceo promises to strip away layers listen to the customer, and change what people think of the food. stephanie: billionaire blackrock calls out mr. fink. he says his argument is making harder against investors. erik: and carly fiorini is joining the race for the presidential nomination as well as ben carson. they won't be the last. stephanie:

bloomberg's cory johnson is with us on saturday. he drinks an herbalife supplement every morning. will the story end? cory: to me, that story, the story of bill ackman versus herbalife, bill ackman versus the wall street bulls, who cares? olivia: i care. i think it is a huge deal. the top performing hedge funds manager has stuck his neck out with a huge short that is not paid off. cory: first, it has paid off somewhat. almost every level in almost every geography, whatever herbalife was come i do not care fair selling whichidgets or drilling for oil, the more you look at the numbers, the worse they look. if you look at the free cash flow, it is very bad. if you look at their biggest growth market, you see big problems. then you start to look deeper you look at the accounting, how they accounted for what they were selling into these markets you look at the currency factors they were able to exploit when it was looking good for them and how this was hurting them on the backend, it is a business with a lot of problems. you do not need bill ackman to see that. brendan: we got him to ta

cory johnson will join us in a bit.rk shrouding the empire state building, like the clouds of verizon bureaucracy coming down -- no, excuse me, we will save that for later as well. 8:00 this morning, erik schatzker, stephanie ruhle "market makers." where did you go, denver or newport? erik: newport beach tom. tom: what did you learn from mr. gross, his stamp collection? erik: no much of that is in the smithsonian. what i learned was many things i did not know before, one of which was his commitment to philanthropy. anybody who is followed bill gross knows that he gives some of his money away, but i had no idea the scale to wes bill gross has been giving the dough away. he is a billionaire, he has got a fortune, $700 million of which he has already given away. tom: who has a given it to? erik: hospitals, medical research an enormous grant to duke. what i really wanted to know more than anything else was why bill gross is doing what he is doing? he left pimco, we know it was an acrimonious departure, and shocks the financ

cory: i'm cory johnson in for erik schatzker.an presidential field grows more crowded by the day. others jumped in the race yesterday, now it's former arkansas governor mike huckabee. mark halperin and john heilemann are entering our coverage. gentleman, take it away. >> with you in new york. mike huckabee someone who has become a force in republican politics over the last decade plus running for president. we have that today and hope arkansas. his announcement speech will be carried live here on bloomberg television, bloomberg politics.com. we expect them to come up in just a few moments. huckabee is someone who brings a lot of strength to this. why do you think he is doing what is traditional but has not been done by everybody -- a formal announcement in his home town in arkansas? >> he is battling the sense that he is not a fresh face and has to reenters himself to the party. he had that success in 2008, he's been on fox news, a radio personality, a book author. he kept himself in the public view. one of the things this race i

cory johnson has more. just got some new credit cards and they had chip and pin technology embedded so it seems the shift is happening. cory: so i guess we can go shopping? maybe when i come back next week. this is a fascinating change going on in america. the visa risked public chairman is with me. i think people don't realize how big of a deal this is that all merchants in the u.s. will now have liability if they do not accept this chip and pin technology at the point-of-sale? >> they are in the process right now of rolling out those terminals. if you look around, you will see a little slot where you can put your card in about one third of the terminals in the marketplace today. not all of them are activated when you can start looking for them today. merchants will be in a position to offer a secure payment experience to their cardholders. cory: why has this taken so long in the u.s.? one of our colleagues from across the pond have said, why has it taken so long to adopt this? >> a lot of people have. abou

cory johnson, thank you for joining us.nk you all for watching this edition of "bloomberg west." see you later. ♪ line" and i'm mark crumpton. to our viewers here in the united states and to those of you joining us from around the world, welcome. we have full coverage of the stocks and stories making headlines on this thursday. let's begin with a look at the jobs market. the labor department reported u.s. jobless claims under the lowest levels in 18 years. the small business sector is contributing to that strength.

cory johnson is apparently an avid fan of the game and of kim.-- perhaps you are? [laughter] here is a number for you. -- 33 millionlars this has been downloaded to smartphones across the world, people have spent over 22,000 years of key military time playing this game -- years of cumulative time playing this game. is apparently great because it embodies some things that are the s -- that are the essence of kim kardashian. and talk to sit down about what makes this game such a phenomenon and perhaps we may glean from this what makes kim kardashian such a phenomenon. betty: where are we going in this world, cory? where? cory: what? betty: i actually respect her, and were ever she goes, hundreds of thousands of people follow her. she has been able to engage her fans like no other celebrity out there. cory: in a very technology-driven way, and she has given life to a cable network. not on a pinball machine or a plug in game, she is using to focus on mobile and has used social media and twitter and particular to boost brands and to boost her brand. i

joining us with insight, cory johnson. why? why do they want this? cory: why not.t'll add to verizon paulson earnings. this recognizes a very interesting direction for verizon. verizon is acquiring two different types of businesses. the pilot businesses closest. this is still a big part of aol. 2 million people still receiving their internet connections through the courtesy of aol. what is interesting is the push into the advertising world and having a full advertising business. also, the content world where they will own some important of the that the provider connection to the internet come it doesn't make perfect sense, that they have to be the content provider as well. imagine if every highway had to own every restaurant off the highway. then they would have to pick what kind of russia to be successful. this is a choice that verizon is making. betty: tim armstrong has been gathering and creating original content, and of course he bought the huntington post too much hoopla, what kind of content is going to be that attractive to verizon? post bought the huffingto

olivia: cory johnson is with us from san francisco to do just -- to discuss. w good these potential changes damage yahoo!? cory: if the irs does make these kinds of spinoffs illegal or taxes them according to capital gains, it would be a disaster for yahoo! because they have spent millions of dollars contemplating the different ways and hiring advisers to figure out the different ways they can create this deal. they think they've created a methodology for the good spinoff this business into a separate unit and because of an operating business involved in the spinoff as opposed to equity or something. believes that they are complying with the letter of the law and that it should be tax-free. their capital gain on this thing is enormous. tens of billions of dollars in profit on this investment. when the word of this potential irs review of the practice, not of yahoo!'s specific case, the stock tanked. it was not until later that yahoo! came out and made a think theirt, they application of the irs was before the statements of the irs. yahoo! understands the statem

emily: for more, cory johnson joins me from new york and john butler is with us from new jersey. john, i will start with you up it what you know about chuck robbins and how he will leave his company? john: we do not know a lot. for investors, he really was not front and center. my guess is he is a very good choice. i say that because cisco right now is trying to really push and make a renewed push into enterprises. i think having a salesman at the home is probably the right person for the job if that is your objective. emily: cory, put this into context for us. a guy like john chambers leading the company for two decades. what does the transition actually mean? cory: i do not know when the right time is to celebrate. it has done well as a lot of stocks have. this john chambers came to run 20 years and one quarter ago, an emerging company in this emerging world of the internet. the internet has changed and technology is changed radically since then. all of cisco's competitors have fallen by the wayside at that time. if you think about who those competitors were the four horsemen o

pimm: thank you for your mind share, cory johnson.t: go-pro trades at 69 33%s reported earnings and times estimated earnings. coming up, tickets for game seven already the priciest ever for an nhl playoff game and we are not even at the finals. ♪ pimm: card sharks are heading to las vegas this weekend for the world series of poker. the event attracts not just poker professionals but also some big names in wall street and hollywood. david takes a look at the engine driving the world's biggest poker tournament. the 46th world series of poker at the las vegas hotel and casino. the tournament caught fire in 2003. espn signed a multimillion dollar deal to broadcast the weekend cable with specials, color commentary, and something called the whole card camera. amateurs got a new perspective on how professional play. popular. poker was caesars now owns the rights to the world series of poker. there were sold in 2003 in a $1.45 billion deal that included casinos. since then, the prize pool has gotten bigger. 2003 to.8 million in $227.7 million

you will be back with us later in the show, cory johnson. coming up, the world savvy investors gather to share strategy, and we sit down with some of the biggest names, this hour. ♪ emily: this is "bloomberg west.” i am emily chang. uber drivers in brussels are at risk of having their cars confiscated. uber has argued it is a tech platform rather than a transport company, and some have urged to shut dom -- shut down the site. they are taking it seriously. goldman sachs is planning an expansion into the online lending business for individuals and small business, according to an internal memo. they have hired a man who ran the u.s. parts division. the exact type of programs goldman plans to offer is still under development. the 20th annual investment conference is underway in new york, the event bringing together the world's most savvy investors to share insights and strategy. my colleague stephanie ruhle is standing by with a guest. stephanie, take it away. stephanie: just leaving the stage. two ideas. walgreens. do you think they are doing b

cory johnson has earnings for us. cory: reporting $232 million in revenue -- adjusted earnings per share is what we are looking for. options take out stock and expenses -- $.23 -- the analysts were wrong again. adjusted earnings per share are a little better and the guidance for next quarter, a little better than analysts were predicting. as a result, you see this stock trading where it closed -- around $160 a share. a very expensive stock, trading at 26 times its book value. this company is enjoying very strong revenue growth securing against cyber attacks. market share away from more experienced companies like symantec. alix: thank you very much. ,ou were talking about a chart looking at the nasdaq versus the tech focus. joe: if we could bring that chart back -- everyone with a talk about chinese stocks, they talk about the shanghai composite. alix: it makes the nasdaq look puny. joe: it is completely absurd. good pointou raise a -- to what end is the chinese government fostering these bubbles, if we can call them th