francisco at the think conference more from jon in a few moments, including an exclusive sit down with ginnietty >>> back at home, shares of apple after three down days, investors monitor a number of potential head winds rod hall out with a new note, highlighting one in particular and joins us from goldman's tech conference in san francisco as well good to have you back. good morning >> hi, carl, good morning. thanks for having me >> so everyone has been wringing their hands on unit sales. sounds like you're focusing on services revenue what's the note about? >> we're talking about, you may remember in september we talked about tack, the money google pays apple for search done on apple's platform we're updating that this morning. google's reported again, have a couple more quarters since the last report. people were i think surprised to hear last time we reported on this in september that it is about $9 billion we were estimating for tack in 2018 and in fact foog reports support that we think it was $9.5 billion of revenue to apple that google paid them. really an interesting number to look

first up is ginny. the glasses on. >> hey. >> if you get one for one, you got the to get one for the other when you have kids. >> hey, i want that. >> time for elliott to have a go, as well. >> can you see? >> oh, my goodness, you're adorable. >> you've got twins, got them with their glasses on. what do you do? you deploy spongebob. >> kids love spongebob. at this point they've almost forgotten about anybody else in the room. they're into it -- >> i'm glad it was glasses they needed instead of surgery and other stuff. that's cool. >> sometimes that is necessary. but they definitely took advantage of the fact that they have got their vision back. for the rest of the evening and night they were neck deep in books, their noses up looking at everything amazing. >> probably every morning they ask mom for their eyes. >> mom, can we have our eyes, please? >> there is absolutely adorable. >> can you see it better now? >> yes. >>> this is a stunningly beautiful video to watch. you can see them in ault of their g

ibm ceo ginni romety is going t join us.oming right back the future of technology investing lies beyond the tech sector. it's about technology transforming every sector. ♪ at pgim, our bottom-up approach uses a technology lens to identify long-term winners. from energy... to real estate... to retail. finding such opportunities for alpha is the true value of active investing. and around the world, you have a partner in that pursuit. pgim: the global investment management businesses of prudential. >>> never a boring one shares of under armour now in the green bouncing more than 5%. they've been all over the map this morning lower by a few percentage points after being high or the initial numbers. here are the takeaways from the quarter. better margins and inventory levels continue to clean up. those inventory levels now down 12% from where they were a year ago. that's important where's the disappointment north america, the key market for under armour, continues to decline down 6% on revenues. that was expected following tough

and also what ginny and. chan wrasslin it will be. a check on the. line with the law should. i go to let them pay. my dues or the cola does have a certain. ok i'm going to let that off a bit but if i haven't already met or was a watch. the show the judge who said. i had to fill and i'm a politician i. never thought of until i'm not sort of more heartless. i you know had the imus in the wrapper has only just the federal trade had washed out how the county now and the different counties or no man had to mechanics out of some of. us from what i lost a job or follow. the civil value of the man in command the n.f.l. commissioner. some of them will come out. of that war hope a small. if you're in a home rod with a level of lead to the whole. i don't know yet about a lot of diana for us in the us and from. turkey i wore a horse in one of the third shot at the rubber field. measurement for the. past the how race year usually one had the heart of a hell of a cellular. i hustle that kind of i was sleep. with almost everyone was you were led to feel little plot of attack but i got with

and most of what ginny and. chan ran into will. run with the washer the. i gotta let them pay. for the love of my use of the colon does have a certain. ok i'm going to let that off a bit but if i haven't already or was it watch. the show the judge who said. i had to fill and i'm a politician i don't i'm not a provincial i'm not sort of model heartless. i you know had the elements in the wrapper have only just the federal help that it had washed out how the county now on the county or north main had to mechanics out of some of. us when i left a job will follow. several value of the man in command you know can initiate. some of them come out. while i was hopeless. if you're in a moment of one rocket with a noble blood to the whole. don't know yet about a lot of diana for some of us and for michael griffith or my it. wasn't quite how to shut them up or feel. measurement for the. past or how ways yet you had the heart of the heart of a serial see if i hustle that kind of i was sleep. with almost everyone was you were led to throw a little plot of attack but it up with my luck the w

and also what ginny and. chan wrasslin a will. not share her. blood with the law should. i go to let them pay. for the love i have of my use of the colon does have a certain. ok if i'm going to let that awful be up and if i. or was it watch. the show the judge who said. i had to fill and i'm a politician i. never thought of implement sort of model harness. i you know had the elements in and about. how the only changes the federal trade had russia how the county now in the county or no man had to mechanics out of sight of what. i do with what i lost a job or follow. a simple value of human in command unit ok then i share. some of them will come out. of that war hope a small. if you're in a moment when rod with a noble lead to the whole. don't know yet about a lot of diana for some of us and. wasn't quite often how to shut them up or feel. measurement for their own thoughts. passed or how lazy or usual you were had the heart of the heart of a sharia law. i hustle that kind of i was sleep. with almost everyone was you were led to throw a little plot of that but it up with. t

and also what ginny and. chan wrasslin a war. with the washer the. eleventh day. of the love of my years of the co-lead does have a certain. ok i'm going to let that i'll be up and if i haven't already met or was it watch. the show the judge who said. i had to fill and i'm a hell of a shadowy absolute bottom of the cock of implement sort of model hotness. i you know had the imus in the wrapper has only just the federal help that had russia how the county now in the county or no man had to mechanics out of some of. us from what i lost a job or by law. the civil value of the man in command unit opened an issue. come to have them come out. of the war hope a small. if you're in. a rod with a noble who led to the who. don't know yet about a lot of diana for us and with us and from. turkey a war on how what and what how to shut them up or feel. measurement for the. past or how race yet you had the most heart of a hell of a sharia law see if i hustle that kind of i was sleep. with almost everyone was you were led to throw a little plot but it out with my luck the way it

she wasn't like her business partner ginny with his connections and family support. was the fighter she was alone in the city couldn't speak the local dialect got the money to start the company with bank books and small sums in ingles out of whoever was land there wasn't even enough left over for her to rent an apartment. what i saw was someone staking everything she had on her company. even the higher why. are the guardian. now my mother my mother gaza. all quite awful if you hadn't. done it with a little bit. to hold above i had. children. right . so drunk with or trying to leave the kids out to assure you you have found the refunds you're going to be under. no phones that your meal is now the. sure you would feel clear that's one thing to make up. and who got us into the. now pleasure then you. really are funny i was telling me just really only me yes it is actually china jani and she got. the freezer the solution you usually use the show you must follow me oh how you feel you should see. say she thought she. should so you know i'm jewish do you. really serious do

abaya louise laden of the c a p scored one thousand one hundred and eleven votes or ginny khan if she's the star of the c.c. score two thousand. three hundred ninety one votes a team to an issue of the c n p scored one thousand eight hundred and seventy four. front of the da scored two thousand seven hundred sixty nine. williams only shola of the deep sea scored five thousand two hundred on forty two votes or sock way felix jones some of the d.p.p. scored fourteen thousand four hundred and eighty three votes or courting christophe out of fraîche scored four thousand five hundred and fifty four votes reverend dr. four thousand one hundred seven.

. >>> thousands are still without to ginny told us 11,000 homes and businesses do not have service. 6800a county. power is out to mes and businesses it in several cisco. the 40,000 outages were throughout the bay area yesterday. public works crews say the storm brought down at least 65 trees and that includes the forrest knowles neighborhoods to . this is you cfs yesterday morning. >>> a major section of interstate 80 is closed in the sierra because of whiteout conditions. be advised if you are heading up there, cars are >> reporter: armed around from colfax to the nevada state line. caltrans is concerned about snow and no visibility. >>> don't forget. heading to the sierra, the weather app is a free download with interactive radar with hourly updates and the seven- day forecast. you can also upload your weather photos and video. >>> today, president trump is expected to sign a bill passed by congress to avoid government shutdown. the white house says the presidenalnational emergency to millions of dollars in funding he wants for building a wall along that u.s.-mexico border. in 30 minut

>> reporter: as you heard susan ginnis mention, republicans are split on the president's emergency declaration. we asked protesters if they ink republicans will go against the president next and they are not optimistic that those republicans who have spoken out against president trump will vote against president trump. corry smith, news4. >>> roger stone ignited fire storm today with a social media post blasting the post against him. we are not showing the post because it showsth picture of judge presiding over the case. after an roupar stone removed theost and said the photo was misinterpret. said it was a reason dom photo from the internet and was not meant to disrespect the jucoe or the t. that comes three days after the judge issued a partial gag order on the case. >>> new fallout from that "60 minutes" interview with andrew mccabe. the president lashed out today in a series of, twee including one in which he said, mccabe's story has gotten, in his words, even more deranged, end quote. last night mccabe describ the chaos at the justice department after president trump fired fbi director ja

ginny clark was the person who litigated all the way to the supreme court on whether he could have the constitutional right to counsel based on litigation in the 1960s. it was handled by what is now my law firm, but i wasn't there then. i was in kindergarten. but gideon's army is a documentary about three public defenders in the south. and the resources that they have to deal with those sort of vip people like that, people that have enough bandwidth to have meaningful conversations with prosecutors at the charging stages is not right. and so one issue in the system that we haven't really talked about today is how to we adequately resource that fund, defense lawyers at that level? at that part of the proceeding? i'm not apologizing for the charging decisions get made, some of them are wrong and some of the roadbed. the system in which they take place are complicated and hard sometimes and then, there are incentives in particular places for prosecutors to charge in certain ways, the system gives those incentives, there's a political overlay to that, too. is not just the one guy who comes

. >> make them like ginnie mae. fannie mae, freddie mac should not be public companies. that is so absurd. they were actually public companies created by congress. jpmorgan, whether you believe it or not, was not created by an act of congress, okay? look at the history. connell: created by jpmorgan. >> i'm saying, banks are regulated. it is not totally absurd argument but they're not, they're not, they're in many more businesses than fannie and freddie and, they're, and they're less and they're less part of the government than fannie and freddie. fannie freddy literally individual both ways, they have public shareholders yet borrow at treasury rates. that is literally amazing. connell: check your twitter. i was standing up for the mom's basement crowd. >> here is the real thing they will have to convince maxine waters, john paulsen and the day traders will get rich off this. will that work? that is insane. connell: we'll stay on it. >> it's a great story, i think i will be involved on it in twitter here. in a moment could we see a new foldable smartphone? that is quite a

ginni deadline, a deadline and fed in march and, of course, somewhere in the back is brexit as well soorry to climb over the next few weeks. >> liz ann, even for now maybe assume the floor was the december low, i guess i want -- everyone asking what the ceiling is in that environment, right? last year we had 20% earnings growth in the stock market went down this year 5% could be enough to support the market provided the fed remains patient and risk taking is there and we can rebuild the valuations but how do you see that playing out? >> well, two things. you had a couple things happen last year, obviously fed was tightening monetary policy, financial conditions were tightening, all of those tend to put downward pressure on valuations so that was the reason we saw the p/e contraction. for q1 it's only 1% which is sub the rate of inflation. if you're in line with that you're in negative real earnings growth terms at least in the first quarter of this year and i think although an earnings recession -- economic recession has been pushed out i think there is a chance of some semblance of an

because ibm's ginni rometty will be on "squawk alley. that's coming up 11:30 a.m.t will it feel like the wheend of a journey?p working, or the beginning of something even better? when you prepare for retirement with pacific life, you can create a lifelong income... so you have the freedom to keep doing whatever is most meaningful to you. a reliable income that lets you retire, without retiring from life. that's the power of pacific. ask your financial professional about pacific life today. >>> welcome back to "squawk box. what a difference a year makes since hitting an intraday low, the s&p has rallied 15%. according to our next guest, that may be a bit too far too fast and the man behind that call is here also with us mike santoli. senior markets commentator here at cnbc. let's go to you first in terms of the call you made you wanted people to be in cash. you still think that's the right call based on how far the market has moved since then >> it's not surprising it's moved as far as it has we had the worst december since 1931 little surprise we had the best janua