devon ryan joins us, director of financial research. securities of citizens. n, i want to get right to a, your discussion of goldman sachs in new initiatives. clearly we heard that from j.p. morgan. they will spend, spend, spend on new initiatives. what is the best use of money for banks looking for new initiatives? laura: well, tom -- devon: the key data point i'm looking at is the financial technology raised $130 billion of capital last year. if you think about that, banks are competing with these fin tech disruptors in the market right now. what you heard from j.p. morgan, as far as what we're seeing from goldman sachs, they are leaning in on investment into their digital capabilities both internally around data and how they can use data smarter and helping optimize the customer outcome but also they are direct to consumer, whether it is mobile or using ai to help bring together all of the financial progress -- financial product. goldman, one of their progress right now, they are hitting their targets and they are also disrupting transaction banking which is

joining us is jmp securities director devon ryan. on it is incredible trading at $11 this is a company in the summer went public at $38 hit a high of $85. rough, rough report after the bell last night and yet you stick with the price target of $45. why? >> we have a pretty big upside here you want to see a beat pretty much in line and pushing the stock today is the first quarter guide business disappointing so you'd say it's been a disappointment. looking at how much the stock declined it's more than the fundamentals have changed and look at a price today. first off, you got $9 billion market cap $6 million of cash on the balance sheet. excess talking about roughly a $3 million enterprise and not burning through cash will be cash positive next year. second point is as you look at the first quarter guide it is disappointing. no doubt the crypto initiatives are slow but they're launching so many new products and none in the first quarter and seeing a lot of upside to revenue here. benefits of interest rates laun launching lending. taki

following a grand jury investigation, officers devon smith, sean doland, and ryan brian devaney wereh manslaughter and ten counts of reckless endangerment. when did you determine the fatal bullet was from an officer's gun? >> we initially determined i think in the september time frame, we're now sure beyond a reasonable doubt that the officer's shot not only killed fanta bility but wounded three other young people. >> reporter: the young girl was killed last summer after two teens exchanged gunfire at the end of a football game. >> shots fired! shots fired! >> reporter: the three responding officers fired 25 rounds, striking four people including young fanta and her 12-year-old sister. >> they returned fire at the wrong target, in the wrong direction, and into a group of people. that's what they're being held accountable for. >> reporter: attorney bruce castor represents the family. >> this one was a bright, a bright shining light, the kind of person that made people happy looking at her. to have her gone is a terrible tragedy. >> reporter: initially the two teens were the only ones