by burger chain was founded danny meyer and his union square hospitality group. the virgin atlantic flight and was having technical problems with his landing year earlier. it was forced to return to a london airport. it was scheduled to fly to las vegas. international search and rescue teams have failed to find any trace of the missing airasia edgjet in a second day. there were 162 people on board. pilots did not send a distress signal, drawing comparisons with the malaysian airlines flight that disappeared in march. all passengers as been evacuated from the ferry that caught fire. seven people died in the incident and there are several people in the hospital with hypothermia. italian authorities have opened up a criminal investigation. we have got more news at the top of the hour. stay tuned for bloomberg, special three-hour edition of "street smart" with cory johnson, scarlet fu, and me. >> he made his name as a top tech analyst on wall street, leading coverage of the amazon ipo. then, bill gurley made his way to the promised land of silicon valley, launching a

a new -- we have a public offering by danny meyer, who doesn't want a piece of that. >> i want a piece of that. one on your list i loved was oxy. because many of those others are at 52-week highs as you describe like jack in the box and so forth but oxy is down 20, 25% year to date. it's done nothing over the past decade. when you look at how the performance has been. i like this pick because i think you can get a little more of an activist bent on it, the same way you did, kudos to you in manny ta whack with ok dental petroleum because people are tired of nonperformance here. >> yes. they went after california which is something that frankly i don't think anyone really wants. what you need it if you have a big chemical business here, you have a business that i think is undervalued in terms of an international oil company and you have a 3.5% yield. that hasn't prevented some of the oils from going down but this is down a lot, down 20 straight points. interesting. we see oil trying to find its way i agree, i think oxy's time. >> what do you want to see have happen with amat? you want th

i asked danny meyer back in june when we were celebrating the tenth apers havery of shake shack abouthe success of that shane and whether he would take it public or spin it off. >> i think our feeling about that is just one burger at a time. we never open a shake shack without bringing in experienced managers from one of our other shake shacks and that's what's our pace. >> nonetheless it was a question that was on analysts mind as well as his mind just a few short months later we're getting that s1 and we could see that ipo early next year. meanwhile, on demand sales of sony's "the interview" nearly five times that of the physical box office over the holiday weekend. what does this mean for the future of film releases? joining us is contributor jason lynch and editor of box office guru.com gentlemen thanks for being here. >> good morning. >> gatesh, start with you at post nine, when you think ate the comparison of what it did in the box office, albeit limited box office release, to what it did on demand, do you think this is a signal that this could pave the way for future on demand

i think they need to be more concerned about guys like danny meyer and the shake shack because he isng directly with them, especially at this price point. i was at his place, and the price of a burger, fries minnesota was $11, double what you would pay a mcdonald's will stop are willing to pay a premium for a better product. >> does it make sense that shake shack would be worth $1 billion? >> he is hoping yes. [laughter] >> through september, they were on a run rate to generate about $112 million a year in revenue. now they may be growing faster than that, but lets to say it is $112 million full stop at $1 billion, they would be trading at more than eight times revenue, which is like a tech lab. there are only two companies in america, restaurant companies i could find, eat at joe's and pollo coloco that trade at that level. >> on paper today, it may not have a $1 billion valuation, but the future of that brand in the cold following that that brand has built in the last 10 years, it is almost a poli-like -- almost chipotle-like. i think that future that they have -- don't get me wron

danny meyer setting the table, he said, you're missing the point.ster and olive garden, they are just fuel themselves for humans. not for a minute did they confuse that with food. >> by the way, first time in a year plus that olive garden comps have been in the green. >> isn't that fabulous? everyone's always said to me, i can't get into olive garden. why aren't they making money? why aren't they doing better? i think the answer is they were undermanaged. this is really a terrific thing. i know the revamps are good looking. i like it. >> goldman cuts verizon today to neutral. price target goes to 48. stock's down 10% for the month. they're blaming -- >> you got a price war going on. it's kind of as simple as that. clearly it's never as simple as we might say it is, but that's where it starts. we know the competition that's going on. we know what verizon said just last week in terms of its subscriber base, in terms of the repricing that everybody else is doing that they've gotten sucked into to a certain extent, even though a lot of their metrics are