i.t. company of all places. with a sluggish irregular internet connection is something many in rural areas still have to contend with the swabian ops and sells western germany is home to many market leaders and just one of many regions where the country's network simply isn't up to scratch. and we have clients all around the country and it's really clear that there are similar white spots throughout germany so we have to make sure that this infrastructure weakness doesn't end up damaging economic help put your mind in fossil. telecoms companies decide where and when fiber optic cables are extended and apparently that's not a worthwhile investment in many areas as well as companies households are also affected even in cities like stood guard. this is what happens here when you want to watch the news online you know. the path your connection is something that pfister family finds very trying. this was real and it's frustrating when we have people to stay and they can't believe that we have such a situation here an

i.t. companies, they are overwhelmingly here. if you think about the united states government, it is way behind in terms of i.t.. we all know that. let's talk about cybersecurity. here is something real-time where we know our election in 2016 was hacked. we have a president who is refusing to use the money allocated to protect our electoral system. that is just a symbol of where we are as a country. we have to understand, in the 21st century, dominating and i.t. at every level is critical. steve: you talk about 2016. what other mistakes did hillary clinton in her campaign make? how would you apply that to your campaign, or whoever is the democratic nominee in 2020? mr. steyer: for the last 10 years, i have been putting together a coalition of ordinary american citizens to take on unchecked power. i started one of the biggest grassroots organizations, next in america. america next general got young people to vote in american institute. if you ask me how i think about works, i, what i think believe what i just said to you about inf

i.t. companies as well as some of the farmer names.acy we set up for farm stronger start. 11,500 is the next milestone for the index we need to watch out for. yvonne: you're watching the likes of acc, tell us about stocks in focus. strong sete both a of numbers that come out. acc is one of the bigger cement manufacturers here in india. they reported a steady to strong set of numbers in yesterday's session. across parables they beat 2% in volume but realizations improve much higher than street expectations and the overall blended realizations on the higher side. however this is not really managed to include broker houses. you've got city maintained a buy on the stock but have cut the target price on acc, brought it from2175m h 15 ruby decrease. the turnover was much higher which aided revenues and the bottom line. morgan stanley is overweight in the stock and hiked the price to o. to get you up-to-date on bank of korea, more lines coming through. we were try to figure out what they were talking about looking at adjusting policy. two thi

i.t. company down big. nymous whistle-blower complaint alleging unethical practices the company is being accused of using unethical means to boost earnings >>> oil lost some ground today w.t.i. is down .90%. heres about a no deal brexit fears have eased the concerns here demand continue to weigh on the oil market if you look right now at natural gas down 3.3%. we got news from russia yesterday saying it did not meet its september reduction commitment because of increase in natural gas output ahead of winter >>> home improvement stocks are soaring. home depot hitting an all time high housing trade has been hot all year lowe's, home depot and whirlpool posting double gains harr varvard university center its indicator shows the model dwindling. why the slowdown >> thanks. yeah, it's showing that remodelling spends, homeowner improvements, maintenance repairs is expected to climb a third of a percent into the next quarter or sorry into the third quarter of next year what we're lookingat is the ongoing weakness t

i.t. companies, they're overwhelmingly here so if you think about the united states government it's way behind in i.t. of i think we all know that and let's talk for a second about security. i mean, here's something realtime where we know our in 2016 was hacked. we have a president who's refusing to use the money that's allocated to protect our electoral system. symbol of where we are as a country. we have to understand, in the sever, dominating in i.t. at every level is critical. >> you talked about 2016. what other mistakes from your standpoint did hillary clinton her campaign make and how would you apply that to your campaign or whoever is the in 2020?c nominee >> well, steve, for the last 10 years, as i said i've been ofting together coalitions ordinary american citizens to take on unchecked corporate power. i also started one of the biggest grassroots organizations, next gen america in 2018 next gen america did largest youth voter mobilization in american history. so if you ask me how i think elections what i think works, of course, i believe what i just said to you about beingation techn

i.t. companies and banks touche keep an eye on. from the banking space. the talks earlier.ks like acid quality could continue to be a problem in this quarter. those factors will be watch out for. -- asset quality. david: granular hit is tanya unilever.hindustan others how to be spec stocks to do today? >> most of it is factored in from hindustan unilever. you have seen the stock move of the last two days so not a very big bang reaction to the numbers. but the volume's have come in at the higher end of what the street was expecting. volumes were 3% to 6% in volume growth of about 5%, the gross margins expanded by 250 basis points on the back of lower input point cost prices. all the parameters and very marginshe avid data and , all of these factors exceed excitations. from 2250 --ice 2250. another i.t. name from the index itself. lutz martin where look indoor the fashion -- morehead as we look at the world of fashion and 82 five $5 trillion industry. this is bloomberg. yvonne: a quick check on the headlines. saudi aramco production facilities damaged by missile strikes is ba

i.t. company, an equipment reseller to retailers.illione to $5 according to people familiar with the matter. tech data shares are moving. they have already been hovering at all-time highs. there also be demand despite the u.s. economic outlook cooling. no certainty that negotiations will take place but we will continue to monitor that breaking news. still ahead, the u.s. house passes the hong kong rights and democracy act, giving support to pro-democracy protesters shery: shery: in the city. next, j.p. morgan leads the way with bank earnings stakes. more on that with rebecca cummings just ahead. this is bloomberg. ♪ shery: u.s. bank earnings season has kicked off with j.p. morgan climbing to a new high after beating estimates. on the other hand, wells fargo is taking another legal hit before its new ceo takes the reins. let's discuss this with whittier trust portfolio manager rebecca cummings. we have seen j.p. morgan being the standout. can you reasonably jump into the bank narrative when we have the fed clearly in an easing cycle a

i.t. companies is facing decoupling.ame to light yesterday yesterday, the stock react down 15%, to highest fall in the stock in a long time. it had a telling impact on the market. indian markets were down yesterday in trade but rebounded after the 15% correction yesterday, up marginally today. poorly in the rest of the i.t. pack. we need to see if this lasts during the day because it is a telling time for tech leaders. nejra: huge week for company earnings. we've got something like 20% of the s&p 500 reporting. what reaction are we seeing in equity market so far? dani: the earning story that has captured the imagination of markets has been texas instruments, and concern we are seeing trade bite on chipmakers. we see it is china falling today. some other equity markets are moving lower. mostly because, they are coming back online but it has been a mix because we have seen more optimistic earnings from chipmakers in the saying tradepe, hasn't affected them but otherwise, that is the main and the story. the other main story

i.t. management software company. his tech experience dovetails nicely with what nike is trying to do.o be an apparel and shoe company that really wants e-commerce and digital presence to be critical. rishaad: the move towards technology in all this as well. how does it work? faster? make me run >> they recently opened two futuristic stores in new york and in shanghai. to get the full experience in those stores, you have to be on its app as a nike member. from there, they can track your spending. very key to what's happening right now, data. when you know what customers are buying, and more importantly how to push sales to them, and using a.i. to do that, that's key. is, is where the emphasis where nike, it makes sense for them to hire someone they know well, on the board since 2014 and now has tech experience that really aligns with what they are trying to do. the only wasn't athletic retailer -- under armour's founder is stepping aside with its president assuming the role. let's listen to how he explained it. >> this is a transition. everybody is standing up, everybody's eyes are wid

you and before the great frank sloopman your predecessor, i have seen this company go from the hey, i don't want to call the i.trtment to the on board company to now basically some company that's going to be a huge player in human resources and is really a digitalization leader this is has all happened in the short time you have been with servicenow >> well, jim i inherited a wonderfurank sloopman that had enormous potential and my role over the last three years has been to try to bring us up into to the c suite and begin to pull us outside of i.t the reason for that is employees don't really care if the issues are i.t. or hr or finance. historically, software has been very siloed. cross functional work flow is the wave of the future that's what digitalization enables so i have enough started to do that but our next ceo bill mcdermott there is no one in the world who has operated more across the major buying centers in the enterprise he knows all the software, all the functional software and all of the seams that exist. and there's no one in the world that has greater c suite relationships than mcdermott he'll

i.t. services to other companies.overall revenue shares a big blue down in the after hours and underperforming the broader markets over the last year. back to you. >> all right dedra bosa thank you >> guy adami were you positive on ibm. >> absolutely for a while it looked like it was okay. >> i'm with you. >> and you know i thought the red hat deal maybe this figure it out. >> microsoft was able to do it five years ago they overpaid for red hat. they would admit that process. i understand the growth for red ha hat when you have the bichl machine behind you that's not -- i think we're splitting the atom when we say that with that said the legacy business is awful. it's amazing they can't get out of thurr own way so, look maybe this is a one off quarter. maybe they get the mojo behind them but it's one disappointment after another. i want to stay positive because i think maybe they turned the corner but this quarter says not so much. >> and i would say that the problem remains at the very top. it's the problem since the

. >>> meantime, companies have been tightening the pursestrings on i.t.ing this yeerp amid the overall slow down in the global economy however, despite concerns about any recessions and cutbacks in discretionary spending, corporate i.t. budgets are expected to rebound next year. joining us now with an exclusive look new global i.t. outlook is john lovelock. john, thanks very much for joining us right here on "worldwide exchange. first off, before we get a little micro, what's the macro headline or two from your report >> well, brian, thank you so much for having me on today. and great day from florida great conference coming up the overall i.t. spending, 0 .4% growth, it's looking flat and looking like things are coming down, but partially that's the u.s. dollar causing problem. 2.3% growth in constant currency there's some growth around the world but the u.s. dollar rise is masking that. next year we get a bit more of a bounceback at the 3.6% range going forward. there's still some uncertainty causing people to keep their hands in their pockets, but most

company . we have also sought outsourcing more i.t. that we have never done before. 00 employees have left the company in 10 months. we continue of course to be efficient, but that is part of what we do every day. but not only that we are also , looking for new growth opportunities. it is how you run a company. taylor: right. that was verizon ceo hans from the tech disrupt conference wednesday. coming up, it is a notable name in the navigation world -- waze. we will hear from the ceo next on how the carpooling feature is different from ridesharing. this is bloomberg. ♪ week, rbc analyst "veryahaney called waze .reasure" for alphabet he also said it is great for advertisers, thanks for all of the data collected. completed 140,000 shared rides last week. ceo and founder of waze noam bardin joined me last week. noam: traffic keeps getting worse. the only what impact our every day traffic challenges is by getting more people into every car. this is what carpool is about. it is different from ridesharing or other for-profit businesses. to really improve our daily life. tay

company. we have also sought outsourcing more i.t. that we have never done before. ,000 employees have left the company in 12 months. we continue of course to be efficient, but that is part of what we do every day. but not only that, we are also looking for new growth opportunities. so it is how you run a company. taylor: right. that was verizon ceo hans vestberg from the tech disrupt conference wednesday. and coming up, it is a notable name in the navigation world, waze. we will hear from the ceo next on how its carpooling feature is different from ridesharing. this is bloomberg. ♪ taylor: last week, rbc analyst mark mahaney called waze and google maps "buried treasure" for alphabet. mahaney also said it is great for advertisers, thanks to all of the data collected on users' rides. this all comes as waze reached one year of his car -- its carpool feature and completed 140,000 shared rides last week. waze ceo and founder noam bardin joined me last week. noam: when waze first got started, we wanted to keep traffic from getting worse. and the only way we can really imp

i think we have done some process changes in the company and also sought outsourcing more i.t.ver done before. we continue of course to be efficient, but that is part of what we do every day. not only that. we are also looking for new growth opportunities. it is how you run a company. taylor: thank you for joining me. and that does it for this edition of "bloomberg technology." hnologys out, @tec livestreaming on twitter. ♪ sometimes your small screen is your big screen. and with the xfinity stream app, which is free with your service, you can take a spin through on demand shows, or stream live tv. download your dvr'd shows and movies on the fly. even record from right where you are. keep what you watch with you. download the xfinity stream app today and get ready for xfinity stream tv week. watch shows like south park and the walking dead october 7th through 13th. >> the following is a paid presentation brought to you by rare collectibles tv. announcer: the california gold rush is considered to be one of the most impactful events to affect the economy during its first 100 year

to respond in a way that will reduce the impact on the company and our simulation the question the journalists face now is to shut down the banks i.t. systems and reboot them in real life such a situation might well trigger a panic with senior staff members reluctant to take responsibility and take charge that is a chain of jewelry stores in germany in early july hackers took over its servers and encrypted all its data they reportedly demanded and received a ransom in bitcoin to restore the company's access to its own. data. but we also advise companies that have a website that website is a website you've already compared and now you can go on to point. out that when you visit and you are. in the simulation the bank doesn't have a backup website like that the situation is getting worse a photo pops up on twitter the hackers have hijacked a lift at headquarters. 2 years ago danish shipping company mask was hit by the not petty way because days of global havoc mess was eventually able to re-install thousands of servers and computers from backups that were almost up to date for a while it's hard to communicate with clients via what's

i.t. spend, these are the things that companies would typically cut back on if they are worried about theok. they are a great indicator of where the economy is headed, but wpp has sales that beat estimates as long as analysts did not bring their estimates down too much going into this. very interesting stuff. now, let's get to the most interesting stuff, which is brexit. boris johnson's bid for an early election has been thrown into doubt after opposition leader backingorbyn said his depends on taking and no deal brexit off the table and also depends on the length of a brexit delay given by the european union. that puts brussels in an awkward position. they don't necessarily want to be making decisions that affect internal domestic u.k. politics. give theirwant to delay, that is a catch 22 now. it also puts jeremy corbyn in an awkward position. polls are showing the labour party would have a difficult time winning that election. joining us now is the fixed income portfolio manager at marion global investors. let me ask you first off, what market take on the effects of the latest brexit st

companies and capex have been moderating. the censure talked about what they are seeing in i.t. spending. technology is one of the places where people have been worried about weakness as a result of the numbers we are seeing. that is really positive. we got a bank of canada decision yesterday to hold rate study. the differential between rates matters. we now have the u.s. and canadian rates at the same level, 1.75. at that level, still a healthy yield, if you are attracting capital globally. is it important that it may change that advantage? alli: we want to maintain that advantage. we do not want it to be so over pronounced that we are dealing with such a strong dollar that those things that i talked about ,hat can push up any fracturing sales earnings forward starts to get compromised. the fed messaging yesterday was really powerful. one of the interesting things to see was the market was seeming to accept it. today there may be backlash. they may have to do with the trade rhetoric and positioning that bloomberg came out with this morning. but at the end of the day, the fed was very foc

those companies have agreed to look at candidates who have google's i.t. professional's certificate. ivanka trump joined pichai meeting with students at a community college in dallas. >> i want to highlight three students we met today. when google says they're committed today to signing our pledge to america's workers and creating 250,000 new training opportunities, we have people that -- [inaudible] reporter: right now there are over 200,000 job openings available for i.t. position but not enough qualified workers to fill it, connell. google along with the white house is trying to change that the big perk of this all you don't need a college degree to participate in this program, which means you can get a really good-paying job with no student debt. connell. connell: hillary vaughn live in dallas for us. melissa: michael and paul are back with us. to me that is one of the biggest stories of the whole entire day. this is what businesses have been saying they need to do but they need the red tape out of the way. they have to get out there to train the worke

companies. they're not taking up a huge chunk of the i.t.so still a lot of room they can grow even if the overall i.t. spending environment will be slowing. there's no reason they can't have good, strong growth rates next year. when you combine some signs of deceleration plus the fact a lot of the stocks were at 20, 30 -- zoom was above 40 times forward sales. >> wow. >> you just can't sustain that even with really good growth numbers. >> and you put your finger on it in your piece where you said, look, this goes back to the work day. this was last tuesday afternoon. the ceo said we're seeing some delays, when he was asked about the state of the market. what should the rest of us extrapolate if that's true for this high-flying piece of the market here? >> yeah, well, if work day is going to say that they're always very careful and conservative with any of their forecasts, so i think when they made that comment that's what kind of triggered a lot of selling activity in the sector and had been going on but that was a particularly bad day becau

company. but, you know, investors have limited patience for this sort of stuff >> and he tells about global i.tre for what we've heard from some of these companies like ibm and others so far. depressed, about the same? >> i think the plot is thickening here. more and more, we heard last week from morgan stanley about projections on i.t. spending in general. we heard from goldman sachs about hardware in particular and large enterprise now we're looking at workday this week, saying things look a little bumpy so across multiple areas in i.t., you're seeing potential turbulence i don't think the story has completely played out yet. where we fully understand how broad the issues are i mean, some of this, for example, with ibm, it's regional you talk about germany, you talk about uk you've still got to look at red hat and say, that performed better than expected it's not as if everything is shaky. but it's a story line that we're going to continue to follow, for sure, courtney >> all right i'm just looking at adobe off 13% from the highs we would call that in correction territory. you've got to go ba

company. the price for $3.8 billion. a premium on friday's close. a provides i.t.to range of clients as well as dentists and neighborhood stores. that is your latest bloomberg business flash. let's have a quick look at u.s. markets. a quieter session than usual due to columbus day. the dow higher by a 10th of 1%. markets reflecting on the potential china deal after friday's rally. the s&p unchanged and the nasdaq -- guy: a quick look at european markets. 1%,ftse 100 down by half of one of the worst performers in europe. we are watching the pound. in terms of the downside in europe, some mining stocks are feeling it. undermes like bhp pressure. the big european banks that had strong days on friday fading as well. some tech stocks are trading down. all under pressure there but only just. the dax is outperforming but still on the downside. we are counting you down to the european close. three minutes to go until the end of trading in europe. this is bloomberg. ♪ . ♪ everyone uses their phone differently. that's why xfinity mobile lets you design your own data. you can

i.t. theft happens. a u.s. companyh a local business on the ground so this is coming from the chinese securities regulatory commission, saying as of january 1, if you are a financial services firm, you can go there and function independently. we have been covering all that's going on in hong kong. personally, my take is this is another way to stop hong kong in the sense that that is the banking and financial center for most western companies in asia, so listen, if u.s. companies can go and open their doors happily, easily, do business on the mainland in china, that hurts hong kong. stuart: excellent detail there. excellent detail. very important. i think you probably helped push the market to a 500 point gain. hold that shot. it's going to go to a 500 point gain any second. we are at 498 on the upside. okay. can't wait any longer. we are almost at 500 points higher. >>> now, i want to stay on the china story. there are sidebar stories going on here. the video game publisher activision blizzard, they censored somebody w

i.t. he joins us from tokyo welcome to both our guests marc einstein let me start with you if i may because you've worked with companies around the world in setting up their cyber defenses but given the scale of the threat today in the sophistication of cyber attacks are we losing the battle against the hackers and if so why. i think you can make the case that we are you know now we have this phenomenon called the internet of things which is several years old now and you know this is the number one reason that companies are really hesitant to be more and more connected i think what is so interesting about this is that the majority of the hacks that we see are actually not very sophisticated they're caused by things or having the all passwords or passwords like 12345 and you know these basic mistakes are holding back billions or even trillion dollars in corporate product of 80. macs eyes in preston i mean the head of britain's national cybersecurity center recently warned that the u.k. will be hit by a life threatening catch a green one cyber emergency in the very near future i mean that sounds absolutely terrifying i m

for a lot of these silicon valley companies come at a book about this as a focus of my last book with a former american software programmer turned lawyer for american i.t. workers who have been harmed by these cheap labor pipelines for i.t. workers from china and india. their explicit goals are to bring in as many cheap laborers as they can within outsource the work. the problem is a lot of these silicon valley companies have invited the splc into their inner chambers to help them identify their worst political opponents and then to completely solve them from telling the truth. it's connecting the dots of that money. tim cook and jeff bezos have donated to many of these deep-pocketed nonprofit organizations that are crusading for illegal alien rights. you wonder how it is the instant representation in court to sue over every last trump initiative to enforce the law. big business and the u.s. chamber of commerce are huge reason for that. >> host: let me ask your perspective on this. as you know i've been working in this universe for a while when i was on hill in the senate judiciary committee 14, 15 years ago, then again at santa cruz chief of staff and

she's trying to transition a 100-year-old company into this new i.t. landscape. it bought red hat for $34 billion. this is the first quarter, by the way, after that acquisition so they can only count for half of the revenue. still, ibm is struggling, trying to get into the hybrid cloud. they are number five when it comes to cloud computing behind amazon and microsoft. believe it or not, they actually got into the cloud first but didn't develop it fast enough, like the rest of the players, and this stock accounting for 60 points off of the dow this morning. stuart: just reminds me of some of the great old names that have failed to make a serious -- susan: general electric. stuart: thank you. that's exactly what i was thinking of. ge -- susan: u.s. steel, some may argue as well. big blue. stuart: eastman kodak. thank you, producer. susan: that went under. stuart: totally so. let's move on. we have some rather sad news to report for you this morning. congressman elijah cummings has died and president trump tweeting just a few moments ago. here it is. my warmest cond

i.t. he joins us from tokyo welcome to both our guests marc einstein let me start with you if i may because you've worked with companies around the world in setting up their cyber defenses but given the scale of the threat today in the sophistication of cyber attacks are we losing the battle against the hackers and if so why. i think you can make the case that we are you know now we have this phenomenon called the internet of things which is several years old now and you know this is the number one reason that companies are really hesitant to be more and more connected i think what is so interesting about this is that the majority of the hacks that we see are actually not very sophisticated they're caused by things or having to all passwords or passwords like 12345 and you know these basic mistakes are holding back billions or even trillion dollars in corporate product of 80. macs eyes in preston i mean the head of britain's national cybersecurity center recently warned that the u.k. will be hit by a life threatening catch a green one cyber emergency in the very near future i mean that sounds absolutely terrifying i me

i.t. he joins us from tokyo welcome to both our guests marc einstein let me start with you if i may because you've worked with companies around the world in setting up their cyber defenses but given the scale of the threat today in the sophistication of cyber attacks are we losing the battle against the hackers and if so why. i think you can make the case that we are you know now we have this phenomenon called the internet of things which is several years old now and you know this is the number one reason that companies are really hesitant to be more and more connected i think what is so interesting about this is that the majority of the hacks that we see are actually not very sophisticated they're caused by things or having the all passwords or passwords like 12345 and you know these basic mistakes are holding back billions or even trillion dollars in corporate product of any. macs eyes in preston i mean the head of britain's national cybersecurity center recently warned that the u.k. will be hit by a life threatening category one cyber emergency in the very near future i mean that sounds absolutely terrifying i mean

i.t. spending morgan stanley and goldman pointing to a slowdown intel suggests there might be a different story. some companiesling some pain with us now, net app ceo george curian >> good morning. good to speak with you again >> yeah. good to talk to you. we are looking for answers about what's really going on here with enterprise spending. you and your team have said the issues that net app have had are one-third your own sales execution, two-thirds macro. how much is sentiment? how much is real caution that could bleed into 2020 no matter how this trade dispute starts to work out >> let me tell your viewers about net app. we help the world's leading companies store, protect and access their data to make their businesses go fast this is a core part of what you see as digital transformation. while there's some degree of uncertainty about the overall macro that's affecting and making people more cautious about spending on i.t., we're well positioned for the data centric era. we are excited about the work we're doing with customers and feel like we've got a really strong position in the market. >> given that, h

company is a waiting agents -- let's just get rid of that. are a risk-based organization. what we came to is three components of thinking about -- we would encourage others when procuring your i.t. products and ofvices, the country's laws where the product comes from or where the data is stored is important. there are certain laws that regardless of whether a company wants -- wants to cooperate with the government or not, there are laws in russia and china and others that would compel the company to provide the data. we were not comfortable with that. the second part is the level of access to your system or data that i.t. product or service has. does a lot of things in i.t. that don't have a tremendous amount of access to data. antivirus tool has a lot of access. that was kind of the second. the last thing is thinking about market penetration. we are coming at it from the u.s. perspective. that is something to keeping an eye on but it is not something that we need to overly focus. when congress passed secure technology act last december which did not get a ton of press, it happened to be passed the day of the shutdown, other things happening. really important piece of legislati

companies, the materials stock, all of that looking green. even health looking green as well. financials look more mixed. i.t.resting because we might have some apple suppliers, and you are expecting to see upside,those to the based on what we know about the new iphone and levels of demand. matt, what do you see in the movements? matt: i see more gameers -- more gainers. decent breath to the upside. if i look to the biggest winners., bpis one of them it is gaining 1.3%, not a small move for a 100 billion pound company. it is heavy waiting on the ftse and a stoxx 600 as well. bob dudley's departure, or at least the announcement of such, we knew he was going to retire at some point, and the replacement, looney seems to be doing well, at least pleasing investors. we also see a lot of consumer goods. nestle, unilever. we see the luxury companies like louis vuitton. you see diageo. of consumern companies on the upside. although they are not big moves, just big companies. look at the downside. onc is the biggest drag the stoxx 600. crew andee lloyd's. deutsche bank is falling. ubs is falling this morning. you reall

i.t. spending environment for the move there work day also sinking today after analysts cut their price targets following its investor day. the companyors that growth it slowing in this is o its management software market finally, take a look at shares which are finally moving higher today. this follows a seven-day losing streak the year's best performing ipo is now down 21% in just the past month. now to sue herera for a update. >> hello, everyone here's what's happening at this hour a strong and shallow earthquake struck a southern philippine province damaging a small college building and prompting residents to dash out of their homes in panic the u.s. geological survey said the magnitude 6.4 quake had a depth of only nine miles shallow quakes tend to cause more damage than deeper ones jason van dyke, the chicago police officer convicted of murder in 2018 in the shooting of 17-year-old la kwon mcdonald officially resigned from the police force last week and will not receive a pension. he is currently serving a nearly seven-year prison sentence >>> chipotle is going to pay for employees to get tech or business degrees workers who ha

now that you have companies that are reporting better than expected revenues and earnings are going up and those that are disappointing are going down. i think i.t. services is an important area. we had the report area which is one of the less sexy areas of the tech that doesn't get as much exposure. you have really good numbers by pay pal. secular trends transitioning to digital spend and so forth is really there. i think within tech, don't forget about apple and disproportionate weight on the sector. the apple move has been all multiple. over 50% of the move. think about that, because earnings haven't gone up. they have actually gone down. >> let's take on amazon. let's take on this quarter. do you view it the way that cramer suggested you should this morning? this is a gift and you buy it and you buy it and you're going to be happy you did buy it. >> every time amazon invested in growth, that growth tended to pay off. and i think that's exactly what's happening. and then broadly speaking, when we look at e commerce penetration numbers, they are still relatively low in the united states. there is definitely room for them to move higher. >> it'

of slack's lunch according to morgan stanley which also says the company has problems going forward, increased competition, weakening i.ton here. the stock is down a lot. they have a work place messaging platform. they have always been competing against microsoft. it is like investing community just figured this out. shares down as you can see. back to you. stuart: down inside. that is 6% down. gerri, thanks very much indeed. let me turn to a big-time success story, why not? a couple, a millenial couple, i don't know whether they're together or not, but two millenials, okay? they used to work for proctor & gamble. they left those jobs, started, wait for it, a monthly snack box business, which is called universal premiums. the business is worth already $21 million. on my left, eli zowner, correct pronounciation? >> yes. stuart: on my right, known kneeing bernstein. >> universal premiums. stuart: let me see if i got this right. you send out a box of snacks each month, the box is based on a particular country, that right? >> yep. you got it right. stuart: what kind of snacks you put in there? >> really anything that would

i.t. index, the index is down .5%. great talking with you. work, cathaym we manyic, juul, high-profile company off the scene. discussed with the chief executive next. this is bloomberg. you are watching bloomberg markets asia. let's take a look at we work. the once high flyer desperate to show off its finances after a planned ipo was shelved and the chief executive resigned. this coming at a time when the number of high-profile ceos have left, including by just -- juul. of ebay and our next guests from the headhunter and leadership consultant edilson camara ,of egon zehnder international . is there anything to read into this or all comedy specific? >> thanks for having me. i thicket is more -- i think it thanre in she habitual company specifics. the level of unproductive ability and business is unprecedented. we do believe it is almost impossible for a c or leader to be prepared for the level of uncertainty in the market. how far is the problem here. quite a lot of the time, perhaps we work, does a person setting up a company has no idea how to run a company. setting one up one canalis get a s

extremely dominant company in amazon that we've challenged to give everybody choice and selection on where they go and innovation. >> john, broadly, we've seen some survey work on i.tbudget growth spending. >> yes. >> expectations sliding four straight quarters. we know what cisco's guidance was like, a downgrade of adobe today. are ceos going to want to spend more or less >> the budgets will be tight to down so if you're purely selling to the i.t. department, it's a tough realm. >> because >> because their budgets will get squeezed as people get concerned about a recession, et cetera. >> is that what it is? >> secondly you're getting good productivity out of i.t. so they're leveraging that. the key issue and most of the startups i'm involved with, they sell to the technical elite, business elite and ceo level if you're in topics like security, my security startup is growing 200% a year, whether it's detecting what could have been permitted in saudi arabia or a smartphone i showed you guys, it won sole source as dissa, the air force, et cetera. but where the budget is, it's where they want to lead. so if you're only selling to i.t. that's okay the next year or two

companies that aren't so great aren't performing as well. i would say at the moment it feels sort of close to normal. where it goes in the future based on i.t. spending and things like that we'll have to see. i guess i would break it maybe into two categories just for simplicity i'd say just broader infrastructure type spending is going to be a little bit more volatile or a little bit more at risk, but when you look at things like security spending, there's nearly an inelastic demand curve because there's urgency around fraud and cybersecurity. so that really -- we haven't seen any real change there from paul, i want to get your take on the health of the ipo market right now, especially since we've seen a number of companies delay plans to go public, including most recently postmates. do you think the pipeline is closed right now, at least temporarily? >> i think fred wilson and dan primack did a great job last week dan did the first one and fred followed on where they really looked at -- there's the haves and the have nots in terms of the ipo market there are high margin companies like zooms and data dogs 85%, 90% gross margin companies. a

companies that already signed on including apple and microsoft. now google is on board. we herd from the ceo today, as part of this pledge to american workers he is actually expanding the i.t certificate program that they have that trains people within six months to be ready to fill thousands of it vacancies around the country. >> we will expand the program to 100 community colleges across 15 states by the end of 2020. [applause] reporter: this program is available in right now 25 community colleges. you heard pichai said they are expanding that to 100 community colleges around the country. when we talked to student today utilized program. they say it is great. there is no college degree required. they are trained within six months. they can essentially start a job debt-free. these are good paying jobs, cheryl. median income for i.t. support job openings is $50,000 every single year. we heard from ivanka today who said because the economy is booming, you are seeing higher wages, a lot of job openings where people need to get skills to be qualified to apply. >> this booming economy has created an unusual problem where there aren't enough people with skills to fill the job v