i will put in iac. why not? little diversification, a diversified company that gives you diversification. i've been -- there was a great piece today on raytheon. i thought it said really good things i thought it would be terrific that's it? that is the end of am i diversified? >> more at the end of the break. - i love my grandma. - anncr: as you grow older, your brain naturally begins to change which may cause trouble with recall. - learning from him is great... when i can keep up! - anncr: thankfully, prevagen helps your brain and improves memory. - dad's got all the answers. - anncr: prevagen is now the number-one-selling brain health supplement in drug stores nationwide. - she outsmarts me every single time. - checkmate! you wanna play again? - anncr: prevagen. healthier brain. better life. >>> it is time the "lightning round" is over, are you ready skee-daddy starting with kevin in new york, kevin. >> caller: hi. big jim, calling from upstate new york, booyah >> booyah. a 76er >> caller: i'm calling for my g

ubs, jpmorgan, bmo capital raising their price target on iac.wilio popping after the cloud communications company boasted a surprise profit compared to an expected loss and cited growth in voice and messaging products and then there is etsy, which surprised analysts, upping the full year outlook, jumping more than 10% for the week. the rally we have seen in online consumer oriented companies like these continues to speak to the overall firmness of the consumer economy. so who knows, maybe it is time to call these the junior f.a.n.g. names scott, back to you. >> call them something, seema. thank you very much. the performance has been great mike coe, how do you bet on these? >> we'll look at math now. and specifically we'll look at selling a put. why are we looking to sell a put? buying a stock here, stock is right now trading at an all time high we might want to own it at a slightly lower price we're looking to sell options. options on the stock like match are extremely expensive. finally, when we sell options, we usually improve the probability

. >> we're watching shares of both companies, very linked iac is the controlling shareholder.for match are lower, just off the worst levels of the day. this is because of a lawsuit being filed by a group of founders, current executives and early employees of tinder which is now owned by match group. this group describes how iac match, that team allegedly robbed tinder employees by manipulating financial information, undermining tinder's valuation, unlawfully stripping away tinder stock options. this is what the lawsuit is alleging we're in the process of reaching out for any kind of comment from iac or match group the statement from plaintiff group goes on to say that in essence what happened is iac match may have allegedly covered up some of the potential financial figures that could have entitled certain employees and founders to more financial compensation in the event tinder became more successful in its time under match group these allegations are being put forth in a press release and lawsuit. we'll continue to monitor. those shares are moving because of this particular

of iac.fter the cloud communications company boasted and growth and voice and messaging products there is etsy upped the full yore outlook and jumped 10% of the week the rally we have seen in online consumer-oriented companies speaks to the firmness of the consumer economy scott, back to you. >> seema, thank you so much. mike >> we are going to look at selling a put. buying a stock here, the stock is light nowtrading at an all-time high and want to own it as a lower price we are looking to sell options, they are extremely expensive and finally, when we sell options we improve the probability of profit so we can take a quick look here and we'll notice that the stock traded about 51 and 15 is about where it closed and i'm taking a look at the 50 level this is a rather risky spot and this 45 level. specifically, the trade i'm looking at is the december 50 puts this is how expensive the options are. we don't lock at selling options that far out you can collect 10% of the strike by selling the put

.] >>> thaurz of match -- >> hi, melissa early employees of tinder filed suit against iac match -- they they are owed $2 billion in lost damages on the grounds at aic and match when aic and match acquired tinder, they would be acquired to -- when employees could exercise stock options, but that all went away when iac -- tin tinder's valuation was set at $3 billion for the same valuation that had been -- despite revenues growing 600%. user groups also grew 50%. the lawsuit also claims then match ceo sexually harassed a tinder employee. tinder is one of 45 brands within match groups portfolio, including ok cupid, plenty of fish, and hinge. their competitors are bumble, coffee meets, bagel, and grinder. we haven't heard back from those groups back to you. >> it all comes down to when you can slide a company into a private. you can list it at any price you want right? >> slide that was a joke. >> i got it. >>> still ahead, our next guest says it's time to stop negotiating with china es joins us next to defend this this when "power lunch" comes back in two minutes. need a change of scenery?

iac pointing to continued strength and bmo capital all raising their capital on shares of iac and plus trulio popping 25% after the cloud communications company boasted a surprise profit compared to an expected loss and cited growth in voice and messaging products and then there's etsy which surprised by upping its full-ier outlook and that stock jumped more than 10% for the week and the consumer-oriented companies like these continue to speak to the overall firmness of the consumer economy so who knows maybe it's time to call these the junior fang names. scott, back to you >> we should call them something. seema, thank you so much the performance has been great >> mike ko, how do you bet on these. >> we'll take a look at selling a put and why are we looking to sell a put the stock is right now trading at an all-time high and we might want to own it at a slightly lower price. options right now on a stock like match are extremely expensive and finally, when we sell options we usually improve the probability of profit and we can take a quick look rid here and we'll notice that the stock

tinder‘s parent firms, iac and match, say the claims are meritless. due to emerge from its final international bailout deal. while it's a symbolic end to the country's financial crisis, greece's economy is still fragile. in the latest in our series on the country's economy, today we're looking at the housing market in athens and how the impact of the financial crisis still lingers. philip hamsheir reports. until the financial crisis, tourists generally only spent a few days in athens. a quick stop to see the acropolis and parthenon before heading to theirfinal acropolis and parthenon before heading to their final destination, santorini, crete or rhodes. this man is a young entrepreneur who started a business with family members and friends. they manage property forforeigners members and friends. they manage property for foreigners who bought bargains in greece after the financial crisis. athens residential property fell 46% from its peak in 2008. the flats rented to short—term holidaymakers using online services. about nine years ago, the property you

iac and match are being accused of manipulating financial information to drum up a low ball estimate for what tinder was worth when it was purchased. >>> new gaming figures out yesterday show nine new jersey casinos took in 12% more gambling revenue in july than they did in the same month last year. the state's casinos and racetrack took in about $40 million in sports bets the first month after it was legalized. >> all right, diane. well, we are hearing one mom is learning why you shouldn't save credit card information on amazon. what are the details? >> reporter: so here's the story. a 6-year-old utah girl spent $350 on toys, vibod games by secretly using her mom's amazon account. the girl was given permission to order a barbie doll but the next day amazon delivered boxes of toys. she could only keep the barbie doll. >> she's only 6 and she already knows how to do that? >> i know. kids know how -- the pace of technology -- my 2-year-old going on 3 knows how to swipe, swipe, swipe. so i have to be careful. >> otherwise you're going to be having boxes of toys at your house, too. >>tha

iac calls the suit meritless. >>> americans are borrowing more than ever. u.s.13.3 trillion last quarter. debt is still climbing after four years, even with rising interest rates driving up borrowing costs. according to the federal reserve bank of new york, the increase was driven by higher mortgage, credit card, and auto loan balances. but the number of delinquent loans fell to the lowest rate since 2003, primarily because of student loan debt. the report credits an improved labor market for less delinquency on student loans. americans currently hold $1.5 trillion in student debt. >>> the search-and-rescue effort only beginning in italy after that highway bridge collapse that killed dozens of people west of genoa. cnn's ian lee is live in genoa now, and he has the very latest. ian, what's the scene like now? >> reporter: right now, ryan, this search-and-rescue operation is still ongoing. we spoke with the chief of the fire services. he said that there are still a number of people who are in that rubble. they don't know if they're dead or alive, but they're assu

iac issued a statement calling the suit meritless and went on to say that the founders may not like the fact that tinder has experienced success following their departures, but sour grapes alone do not a lawsuit make. >>> a long-time san francisco bar and live music venue is going silent. the hemlock tavern will soon be turned into housing. the venue first opened in 2001 s are soaking up the last suds before the bar is demolished an use condo building. michael ross started working at hemlock and now is the manager until the bar closes october 6th. >> hopefully some people will get the idea this is a vacuum that needs to be filled and that they'll make a new space for this adventurous music to happen. >> but fear not this may not be the official end for the hemlock tavern. developers reportedly want to reopen it inside the new condo building, but with different management and owners and likely a very different scene. >>> warriors superstar kevin durant promoting diversity in the tech industry. according to the "wall street journal" he teamed up with other african-american celebrities inc

iac calls it meritless and will defend itself. >>> americans are borrowing more than ever, borrowingver. u.s. household debt hit a record $13.3 trillion last quarter, climbing still after four years, even with rising interest rates driving up borrowing costs. it cites loans for mortgages, credit cards and auto loans. the number of delinquent lows is the lowest level since 2003. the improved labor market is credited for that. americans hold $1.5 trillion in debt. >>> you may have noticed there are more animals on airplanes recently, but some airlines are trying to rein that in. i've already used that, but it's appropriate in this respect. one airline putting a limit on what pets you can bring for emotional support. stay here. how do you win at business? stay at la quinta. where we're changing with stylish make-overs. then at your next meeting, set your seat height to its maximum level. bravo, tall meeting man. start winning today. book now at lq.com all your school get supplies today... start winning today. school.. grade.. done. done. hit the snooze button and get low prices on schoo

. >> iac am and he was white.aarizona football player reflected on his bond with the senator. >> he did not judge individuals by the color of their skin, their political affiliations, or their bank accounts. hesvaluated them on the mer of the character and contents of their hearts. laura: navajo musicians performed, underscoring john mccain's close relationship with arizona's native tribes. mr. biden: my me is joe biden. aughter] mr. biden: i'm a democrat. [laughter] mr. biden: and i love john mccain. laura: john mccain wanted former vice president joe biden to speak, and he telivered a potribute to his beloved friend. mr. biden: john's story is the american story. that is not hyperbole. it is the american story, grounded in respect and cency, basic fairness. the intolerance for the abuse of power. >> ♪ and now the end is near laura: the final musical tri mte spoke to terick figure john mccain was in one who never hesitated to switch political positions to put the national interest first. now he has left his belov

>> again, this title is drawn from a quis iac, chapter 44 verse 1, let us praise famous men and also, you know, praise those with who have no memorial, so, you know, i think by default, you know, i think that part of the value of the title is that when you first read it you will probably imagine it's quoting and referring to popularity and i think aggie is able to turn on this expectational, turn on its head the expectation because he's talking about the sharecroppers' families that are trying to allude death in the deep south. he's bringing this important dignity, inherent dignity of people within their poverty and within their hardship and these are the people that have no memorial so i think it's -- this volume to celebrate the dignity of the people. >> are these authors in your view from what they have seen, are they well educated in what's in the bible? >> that's an exceptional question, the reality is that they aren't necessarily, they don't have to be because -- because the bible has become so prevalent in western civilization, authors are often times able to grab expressions w

they say iac and match group intend to vigorously defend against them the chairman and ceo greg blatty harassed an employee and shares of match falling today about 2.5% or so, and parent company aic shares are slightly down. >> okay, aditi, thank you very much prfor that >>> the s&p and the nasdaq somewhere in between, 114 points on the dow >>> coming up four years ago right here on "the closing bell" kobe bryant explained why he was investing in a new sports drink called body armor. >> the sports drink industry is something i've been very familiar with. it's right in the wheel house i do as a basketball player. the tech sector isn't something that's been appealing to me. obviously the upside and potential for tech investments is massive but i don't know anything about it. >>> after the break we will tell you why coca-cola just joined coby with a stake in his body armor beverage pretty good bet from the businessman when we come right back easy to analyze and take action? how about some of the lowest options fees? are you raising your hand? good then it's time for power e*trade the pla

iac i see it more as an outcome of our unforeseen constant need for efficiency, buying time without knowing for what purpose. decreasing attention spans pushed beyond the cognitive limit and information that will never become knowledge and increasingly manipulated into superficial uses of knowledge that will never become wisdom. in the first half of the 20th century, t.s. eliot wrote where is the wisdom that we have lost in knowledge? where is the knowledge that we've lost in information? in the first quarter of our century, we daily conflate information with knowledge and knowledge with wisdom with the resulting diminution of all three. exemplified by the interactive dynamic that governs our deep reading process, only the allocation of time to our critical and analytical function can transform information into knowledge that can then be consolidated into memory. only this internalized knowledge in turn will draw paths and enable us to make analogies and inferences with the new information. the discernment of truth and the value of new information depend on our allocation of time to these c

a group of tinder founders have sued iac and match group, claiming the owners are trying to cheat themllions of dollars in options. includes and courts -- the former ceo sean rad, saying they are avoiding paying them money due under options agreements. dropbox ceo drew houston on running a company and the recent departure of dennis woodside. cisco gives a bullish forecast for the coming quarter. we will hear from ceo chuck robbins. this is bloomberg. ♪ ♪ since going public in march, dropbox has had ups and downs. its ipo andiked on after its first earnings report, only to dramatically fall after the surprise departure of the ceo despite another quarter of strong earnings. we caught up with drew houston and what has changed for him since going public. drew: in some ways, it is kind of back to work or back to business as usual. beingf our past to public, we have been running the company like a public company for the last couple of years so if anything it is back to recruiting and building. emily: you reported strong earnings and you announced your clo dennis woodside is leaving. investor

iac up 24% these are the very sorts of companies that these dominant technology players were supposedo undermine but in their earnings this week, and just in general they have been doing pretty well. does that point to perhaps a vulnerability in the overall story line for some of these tech powers or not >> i don't think so. this is the biggest shift that's occurred in our life times and business models are being redefined up and down the board because of the influence of technology particularly internet and mobile technologies. the idea that the giants take everything, i think is overplayed and these smaller cap names tend to move up and down a lot. i mean they had very significant selloffs in the early part of the year came back strong through the middle part of the year. they are hit or miss we also had some big moves down. twitter, for instance. that's pretty typical among those names in the internet space. >> i would throw in the mix the list of stocks yelp, right? match and some other names you mentioned roku isn't that interesting >> grubhub is another one. so it's kind of i ca

executives filed a lawsuit yesterday in new york seeking payment from match group and its parent company, iacor allegedly manipulating financial information, delaying new products, and using other tactics to try to keep the tender evaluation low. the lawsuit claims that caused some early tender employees to miss out on making millions or maybe even billions of dollars. >>> back over to sal. what are you keeping an eye on? >> we're looking at the commute on the peninsula, but also the long commutes. northbound 101 starting off from gilroy to san jose doing well. of susana martinez and morgan hill and it looks good all the way into san jose. a lot of roadwork to give yourself plenty of time. this is 280 at san jose and traffic is moving well. we want to talk about northbound 101 we want to talk about northbound 101 asher dr. to the millbrae avenue exit. northbound 101 has two right lanes closed because of a crash on northbound 101 right near millbrae avenue. this is right on the way to san francisco airport if you're going to the airport give yourself some extra time or used to 80 or used to 82

a group of tender founders, executives, and early employees have sued iac and match group, claiming theare trying to cheat them out of billions of dollars in options. the group, which includes former ceo sean rad, saying they are creating a low valuation version of tender to avoid paying the group money due under options agreements. coming up, dropbox ceo drew houston on running a company and the recent departure of dennis woodside. later, cisco gives a bullish forecast for the coming quarter, signaling confidence that supporting consumer networking products is working. we will hear from ceo chuck robbins. this is bloomberg. ♪ selina: since going public in march, dropbox has had ups and downs. the stock price spiked on its ipo and again after its first earnings report earlier this summer, only to dramatically fall after the surprise departure of coo dennis woodside, despite another quarter of strong earnings. we caught up with drew houston and talked about what has changed for him since going public. drew: in some ways, it is kind of back to work or back to business as usual. and part o

suing iac for $2 million. they claim the owners of the dating app are trying to cheat them.ey are just not swiping the right way. companies payst jumped by 23% from 2016 to 2017, according to a new study. with the rank-and-file workers. anna: if you want to do well pay wise, you should be a ceo of the ftse 100. more stories on the bloomberg terminal. china is said to have frozen game licenses. it is an industry shakeup. we will check on tencent's numbers in a bit. manus: let's check in on the markets. lirais where you have the having a bounce. breaking rupee is not 70. for the indonesian central bank to give us their next decision, and that is one of the markets on the move. the indian rupee under attack below 70. that could be where the markets are trying to move. radar, under risk pressure. below $6,000. commodity complex is one to keep an eye on. let's get to juliette saly with the business flash. royal bank of scotland has declared an ordinary it end of two cents per share. that is after the statement and or will pay $4.9 billion to settle allegations of mortgage-backed

as bob pisani said it's late august another very busy day for earnings iac group, yelp and booking.coms as soon as they are out joining us today, mike santoli victoria disney trailed. michael kors led it higher cimarex energy was down. >> the market held steady. essentially a half of a percent from the high. you don't see indexes essentially hold still much as as they did today. half of all volume up, half down obviously a lot of offsetting action within the indexes not much it's a logical place to pause right up against those highs from back in january >> comfortable but drowsy. >> it felt that way, right, as opposed to outside which is oppressively hot and drowsy. >> victoria what's your take with that sector rotation could that continue over the summer or are we seeing signs the interrogatories is done. >> you'll don't see some people have been in these large tech names not surprising to see them take a little bit off the table start looking for some value stocks where they can have more room to run. i don't think we'll see a huge shift. maybe trimming some positions but definitely

match group and iac interactive are both being sued, a group of former tinder employees, that's the datinge if you don't know includes 3 founders, they are seeking at least $2 billion claiming that the parent company manipulated tinner's finances and accuses former ceo of sexual misconduct. iec and match group says the lawsuit is, quote, meritless and then there's this, one tsa officer has proven things don't have to be so much of a bummer at airport security especially if you're in new jersey. the agent complimented the little boy's dance moves and the boy challenged him to dance-off, this is called the floss, neil. [laughter] cheryl: if you don't know, look at him go. this is a newark, by the way. neil: that was amazing. behind the kid was steve forbes. [laughter] >> i was coaching. [laughter] neil: you travel private. kevin: yeah, we don't do that. no, but this is funny, airports are -- it's one of the worst experiences you can have. i mean, you can get through security with a smile is an added bonus. neil: yeah, for me happiness, there's a cinabon nearby the airport has potential. a lo