those were ipo's that ended up getting bought out.n if they don't survive on their own, there can still be up side if you get them at the right price. >> i totally think that's true. facebook traded down almost 50% from its ipo price in late 2012. it's not as if you render one verdict and it's done. also, if we get another crop of deals, they're probably not going to surge to those huge premiums to where all of a sudden expectations are built at a high level. >> there were a lot of people that got facebook at 18 that i think are probably very happy right about now. >> even more people who claim to have gotten facebook there. >> when you have a company that's gone public, it has very specific pain points when the lock-ups expire. facebook fell prey to this too. for the first year it was hovering near those low levels. would you say if you want to buy an ipo, wait until the first year is behind you? >> i think it's obviously case by case, but i do think that's an increasing issue because they're waiting longer to come public. more of th

s last week on you talked about the ipo market and we have had no ipos yet this year.ll we warm up and it starts moving again? tell you.i could i am an optimist. optimist but am in i urge caution because if you look historically when volatility goes up, i is go down and the volatility is high. the volatility with his high last week as it was back in august. the market has been slow and the fourth quarter was the slowest in a decade. this year andne there are great companies in the pipeline waiting to ipo. institutional investors are ready to ingest those ipos, we should see a number of great companies but it won't be in the immediate future. betty: did you get any skiing in in davos? i wish you hadn't asked me that. i did and i don't want my board to hear that. i was able to make it out over the weekend and it was gorgeous. betty: thank you so much. matt: i would do mostly skiing in davos. thank you very much. betty will be back in a few moments with her interview, said down with the aig ceo. will join us and you don't want to miss that live a from the new york stock e

exits including ipo's told more than $9 billion last year.e is really startups remaining private for longer in the hope of getting a bigger exit down the line, and also the window for opportunity for ipo's shrank, according to one of the reports. >> there is a lot of talent, and the technology comes out of israel continues to be very attractive for multinational buyers. so i would expect in 2016, we will continue to see significant volume of transactions. 2016. billion, and i5 would not expect 2016 to be less than that. there may be less unicorns, but in terms of their ability to generate significant demands and m&a, i would think it would not be less than 2015. elliott: there were several big ones, $1.25 billion. has giants making acquisitions in israel. microsoft is the most prolific, buying five in israel. elliott gotkine, bloomberg news, tel aviv. news's elliottg gotkine there. fever hit china. ♪ the force is strong in china, taking in more than $63 million, and some are predicting that china will become the largest movie market in the wo

started many ipo's have so hard in 2016? zero.ry is on track to be the slowest since the 2000 a recession. here's the case. to be the market turmoil, right? >> right? volatility is one of the factors here. the comparables are swinging all over the place. as we have been talking about, the vicks is still at that uncomfortable level of 20, touching 27 at times. it seems like the companies who are aiming for public offering are saying -- look, the deals that were done at the end of 2015 were not that great. thetility is still all over place. equity investors are still in this risk off atmosphere, maybe not wanting to bet on a new stock. that's played into it. again, we have this private funding market in tech and biotech where it companies need capital, they can usually get it. they can tap that privately. betty: what's it usually like during this time? alex: last year there were 19 ipo's in january. right now there's only three, smaller, less than $100 million operating size country's -- companies expected to post this year and we'v

. >> still ahead, ipos trading well below the ipo price.ow much pain could be for the likes of go-pro, square and fitbit. >>> and one of the europe's biggest banks hit an all-time low and some are betting it could go much lower. the name and how to play it when "fast money" returns. ng on here? oh hey allison. i'm val, the orange money retirement squirrel from voya. val from voya? yeah, val from voya. quick question, what are voya retirement squirrels doing in my house? we're putting away acorns. you know, to show the importance of saving for the future. so you're sort of like a spokes person? no, i'm more like a metaphor. okay, a spokes-metaphor. no, i'm... you're a spokes-metaphor. yeah. ok. see how voya can help you get organized at voya.com. ♪ light piano today i saw a giant. it had no arms, but it welcomed me. (crow cawing) it had no heart, but it was alive. (train wheels on tracks) it had no mouth, but it spoke to me. it said, "rocky mountaineer: all aboard amazing". >>> welcome back to "fast money." major selloff with a bit of a come

the biggest ever ipo?c, andy jpmorgan, deutsche are in position to go after the world's largest group is -- producer -- crude producer. it has been confirmed, they are selling for a stake in its subsidiaries. let's check in on markets in asia. -- wehe had to australia had to australia. it is almost 1.5% down. that is a significant decline at us -- early morning for for the couple of hours it has been open. or rather, half an hour. at 69e the aussie dollar u.s. cents. new zealand markets have been open for a bit, right now it is lower. of 1% the robustness jobs report popping of the u.s. dollar. let's take a look at the upcoming event to keep an eye on in the u.s. here is sue. sue: the week ahead on wall street will have investors in the u.s. focused on market stability, how low oil goes, and a fresh load of economic data and earnings reports. in terms of the latest reports, economists are forecasting that u.s. retail sales climbed in december for a third month. that indicates that consumer spending is givi

considering an ipo. new details are coming out about the plan that may offer investors a lucrative alternative to a full-blown selloff. knew that they were perhaps planning this on friday but we got a little more flesh on the bones, haven't we. confirmation last week on friday that saudi aramco was considering an ipo. it seems now that they have shifted the focus to their downstream assets which means that the 10 million barrels a day of oil in the field they produce from may be off the table. but, there could be refinanced assets, a global refining empire that runs from the u.s. to saudi arabia. into asia, south korea, and china. did would make it, if they make that a public company, that would put it at the fourth largest refinery globally after exxon, shell, and china was sinopec. the value of that company could be seen at $100 billion which would still be quite sizable. at the moment, the banks in the running, and the front running are seen as taking the ipo, would be jp morgan and hsbc. they have wo

what a time to go for an ipo. if they go.ns is why would you do it now with oil in the doldrums? we have this new deputy crown pants -- crown prince who wants to shake up the country. he is keen to be seeing to modernize the economy. and i feel would be a very important symbol that things are changing. anna: does this rub up against the story of oil prices? part of that is because of the decisions that have been made by the saudi administration. does this change their thoughts about the oil prices? say thatrd some people maybe they think that oil is never going to rise again. obviously, the decision would be taken inside the kingdom right now if they thought that. manus: there would be some rather extreme social reaction. crude extending its slide, 11-year low. hedge funds are cutting their bets are the most since 2010. this story in terms of the bandwidth of oil, are you to the left of 30 or to the right of 50? >> we are ultimately to the right of 50. happening is a question of debt and leverage. through the qe periods of th

the biggest ever ipo. jpmorgan and deutsche bank are in position to win a role if saudi arabia goes ahead with the offering of aramco. they are considering selling parts of the business. david bowie has died at the age of 69 after battling cancer for 18 months. he was one of the most influential music artists of his generation. he was a chameleonlike performer that blurred the line between genders. that is your bloomberg first word news. francine: very sad news. thatafter he did a record one extreme applause. --cks in china have extended concern that the slowdown is deepening. joseph stiglitz told bloomberg that market rules are important. .> it is not a cataclysmic it is a process of slowing down. it does remind us that market rules matter. the way you structure those market rules can either diminish the volatility or increase the volatility. here is ae seeing consequence of some market rules that were not as well designed as they could be. saidine: the ceo of ubs despite market turmoil, the bank plans to

even those that did ipo did not do that well.erformance was negative for the first time since 2011. materials and financials did best. actually did better than larger companies which i find to be interesting. anywhere between 100 million -- excuse me, $500 million to $1 billion did the best. scarlet: it is curious because one of the reasons they might have been subpar might be week fundamentals. one analyst looked at the multiples and almost five times -- less than 2014, which was the peak there. still well above the average. the fundamentals may not be looking as attractive. actual marketnto activity and things look pretty grim. when you saw that big spike, we saw a solid six week cause in ideas. if we see the vix and volatility , that could have an impact on the amount of ipos we have seen. scarlet: and so far, it has. is recession on the horizon? do see ast says they reaction to elevated volatility, so we are seeing the vix elevated and that may put the brakes on more ipos. he is still sticking to his s&p target. these are the

to get the ipo done. that is to protect themselves because they don't have the same protection with preferred stock. investing in stocks is risky. one of the reasons you want some sort of appreciation on an ipo is to protect the investor a little bit who takes that risk. folks who bought square, other tech ipo's, big institutions, they know that this volatility is inherent in it. ultimately if the business is sound, this will just be volatility and we'll move past that the next couple of years. >> henry, we assume you have parties to get to, so we'll let you go. it's good seeing you from davos. henry of business insider. >> great to be here. thanks for having me. >> when we come back, which ceos are getting it right, & wrong amid all this market volatility? bill george will join us with a list. plus, believe it or not one top investor manager says this correction is good news for the global economy, and he is with us to make his case. tough start to the year for jack dorsey. both twitter and square down a

he did it again right after the ipo with mobile.res 100% focus, a market or protection from the market to not have to worry about the day-to-day movement. emily: the challenges that twitter is facing, are they different than where facebook was at that time? or are these similar circumstances? bubba: i am not inside of twitter. do they understand the one thing that matters court to their business? can they move everything they can to get that number going? i do not know if that is monthly tweets per day. it is something really serious they have to makes your they understand. they cannot turn things around until they have that insight or focus. emily: one of the things that mark zuckerberg has done that most companies don't do, he has made some big and risky acquisitions, spending $20 billion on whatsapp, virtual reality is something you are very bullish about. how optimistic are you about oculus? -- if you have not done the demo, i would recommend it. i did it at stanford. it blew away the $35,000 research machine. this is really ama

shares well below its ipo price.reet remains cautious about twitter, with mostly neutral ratings. are investors losing faith in jack dorsey's turnaround strategy? bubba, twitter, every day, it is an all-time low. jack dorsey has been back for five months. we do need to give them some time, but what is your read? bubba: it is a very hard problem to turn something around. i am very curious what jack dorsey can do. i do not know if the market will give him the time he needs. emily: how difficult is that to do? the numbers from facebook keeps surprising. bubba: i joined facebook in 2008. everyone said, what are you doing? they are done growing. everyone was questioning the business and you saw what mark zuckerberg was able to do. he focused it on growth. he did it again right after the ipo with mobile. it requires 100% focus, a market or protection from the market to not have to worry about the day-to-day movement. emily: the challenges that twitter is facing, are they different than where facebook was at that time? or a

as for the ipo, he just said they are looking into options -- one would be selling off a stake in theoperations, code in the industry for refining. the other would be selling a stake in the parent company. both those options delon the table. he did throw a little bone to international investors saying if there is an ipo, they are looking at listing some of those shares outside. here, corporate story they are reversed definitional takeover. the question simmering in the background, as it paid too much given the 50% slump in the price since the deal was announced last april? >> if oil prices remain with a are today, shall is going to have to work very hard to make this acquisition. in all probability, oil prices won't stay where they are. they go down in the short term. in the immediate term, we expect it -- that is when the deal was put together. it is a long-term deal. things change over to long-term. , and take a long-term view shall is taking a long-term view, they will get this to work. it may be harder in the short-term. >> there is another merger taking a well-known american comp

will this year be better for tech ipos than last?: absolutely, yes. 2015 was a very weak year. only 31 tech ipos which is nothing compared to 150 in 1996. today, there is way more interesting private companies than earlier. it is a tiny fraction of companies going public. i see that opening up quite a bit more in 2016. a lot of great companies. i have been around technology companies for about 40 years and there are more companies to scale, growth, interesting products today then there is ever been in that time and by a wide measure. emily: dropbox, snapchat -- my guess is dropbox would go public. do you see a company like dropbox or another bigger name taking advantage? sandy: i think all the bell whether companies like that -- because the private companies have been so favorable -- have been so well-financed. it is a great branding event and it kicks off the liquidity process. i don't have any comments about those particular companies and i don't think anybody is rushing into the market with the feeling is good because the deal tha

you have high hopes for their ipo? a hugey are disrupting industry. hear more people willing to use airbnb -- people i would not peg to do it. it is gaining credibility and i think ipo's bring credibility to companies. and that's one of the reasons to go. that is a good one. betty: there's also a list of companies you think will get acquired though. etsy. everyday health. bo: everyday health is interesting. the market hate advertising-based companies that 's, which arei.o. in search and orders. the market generally does not like insertion order advertising, which everyone does. but health advertising because of medical legal review is hard to do programmatically. they sort of have to do it in format. it's case-by-case. it's hard to buy it and and electronic,- in an programmatic way. investors generally do not like the space. it hit the stock hard. but it's the second of two facing big consumer- health products. there's really not a third one. betty: ok, and fitbit, you think will be acquired? bo: the international market for fitbit is going to be toug

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saudi is preparing an aramco ipo. and a manic monday for the rant. south africa's currency plunges as much as 9% in a volatile hitting 17 against the dollar for the first time ever. it is it is a morning. you need to be up to speed. caroline hyde has your bloomberg news. : chinese stocks have extended last week's plunge after concern about the slowdown deepening. the producer price index slumped 5.9% in december, sending declines to a record 46 months. the cost of borrowing the yuan has jumped by the most on record. tightened supply of the currency following intervention by the chinese national bank. ubs will double its staff in china over five years. their chief executive says that a time of volatile markets is as good a time as any for wrapping up operations. china is not on its own with those challenges. we have to expect some adjustments for 2016. those are also good times to plan for the future. that is the reason why we are starting to implement our strategy plan in the next five years. we think we are going to double our account in this region

is it an ipo? >> eventually, it could be. kept the company private to this point, but space is a different kind of market. the potential is so large. if you want to realize the potential on a timely basis, you made to bring other financial vehicle's or an ipo to the picture. right now, it is a little early to say that, but as i mentioned earlier, we have an effort underway to bring some financial partners into this effort. emily: sierra nevada corporation's ceo. staying in space, they can't see it but they believe it's out there. u.s. scientists say they have solid evidence of a planet x, a true ninth planet on the fringe of our solar system. according to calculations, the planet is likely to have a mass 10 times that of earth and it is extremely far away. pluto is 4.6 billion miles from the sun. this planet is 20 billion miles away at a closest point in its orbit. other astronomers point out that this has been "discovered" before and refuted. for some, it seems, seeing as still believing. coming up, are we a step closer to s

as for the ipo he just said you're looking into options.e due selling up a stake in the downstream operations, code in the oil industry for refining. the other would be selling a stake in the parent company. both options are still on the table. he did throw a little bone to international investors saying if there is an ipo, they are looking at a couple of actions. not just on the saudi market itself, perhaps listing some of the shares outside of the kingdom. the big corporate story here is shell with shareholders rubberstamping the beg takeover. the question simmering in the background is hesitate to much given the 50% slump in the price of bread since the deal was announced last april. >> if oil prices remain where they are today, then shall will have to work very hard to make this acquisition function properly. probability prices will not stay with ar. -- where they are. we expect oil prices -- >> a breakeven rate of $60? >> that's when the deal was put together. i'm sure she'll would claim is a little lower than that. it's a long-term de

so they have chosen to push the ipos. and probably waiting week by week to see if the markets will stabilize and creating an environment for them. liz: you've been doing this as a long time, you started as an intern, folks, you hear that? you've climbed all the way up. but have you ever seen a time like this where cheap gasoline doesn't seem to be a net positive for consumers because they're nervous? >> well, i think you have to look at short-term versus long term. so in short-term when emotion enters the market, you see people potentially looking at one signal and addressing it, bringing it across an entire sector or bringing it across multiple sectors. and once you take the emotion out, they start to realize that low gas prices can be very good for consumers and consumer goods and companies that look at having discretionary money allows them therefore to sell more of their product. liz: we're still waiting for them to see that because right now people are selling stocks and just seem to be concerned. and today the dow l

one day we'll have an ipo market that's a good d ea. >> how are you doing? i was wondering about apu? >> this is propane retail. it's down in the dumps and that doesn't necessarily mean that it's going to be bad but i know when i see a 9% yield i do get suspicious. let's be carefef. how ababt kevin in california. >> booyah, jim. >> booyah. >> hey with getting that downgrade is nordic american a buy here. >> i don't know who sold that stock k day. i think they're making a mistake. peter in california, peter. >> jim i appreciate your market prediction. thanan so much and they were upgraded today are all sells because they won't stop producing commodities. if you want to be in that business go buy alcoa. at least they're splitting. kevin in indiana. >> hi jim, byah. alth. >> no. it's done. we don't want it. we want pharmaceuticals that have good yield. how about louis in pennsylvania, louis. >> jim, thanks for what you do. >> thank you. >> i'm calling about 100 shares of williams. >> david talks about it everer morning on squawk on the street. he is talking abo

it's up 60% since ipo in 2013 but you know what, maybe you don't know it. i'll reveal it. stay with cramer. >> don't miss a second of "mad money." follow @jimcramer on twitter. tweet cramer, #mad tweets. send an e-mail to madmoney@cnbc.com. it's 1-80-743-cnbc. money.cnbc.com. your clever moves won't stop the cold and flu. but disinfecting with lysol can. because lysol wipes and spray are approved to kill more types of germs than clorox. including those that can make you sick. for a healthy home this cold and flu season... lysol that. working on my feet all day gave me pain here. in my lower back but now, i step on this machine and get my number which matches my dr. scholl's custom fit orthotic inserts. now i get immediate relief from my foot pain. my lower back pain. find a machine at drscholls.com (cell phone rings) where are you? mom? your dad won't call an exterminator... can i call you back, mom? he says it's personal this time... if you're a mom, you call at the worst time. it's what you do. if you want to save fifteen percent or more on car insurance, you switch to g

he did throw a little bone to international investors saying if there is an ipo, they are looking atme of those shares outside. >> the corporate story here, shareholders rubberstamping the fiji taker. the question simmering in the background, is has it paid too much given the 50% slump in the price since the deal was announced last april? >> if oil prices remain with a -- where they are today, shell is going to have to work very hard to make this acquisition function. in all probability, oil prices won't stay where they are. they go down in the short term. in the immediate term, we expect oil prices to go high. it is a long-term deal. things change over to long-term. if we take a long-term view, and shell is taking a long-term view, they will get this to work. it may be harder in the short-term. betty: there is another merger taking a well-known american company to ireland to lower its tax bill. the walkie based -- milwaukee-based johnson controls is combining with tyco in a multibillion-dollar deal. what this means for both of the companies and also what it means politically. let's

it's up 60% since ipo in 2013 but you know what, maybe you don't know it. i'll reveal it. stay with cramer. >> don't miss a second of "mad money." follow @jimcramer on twitter. tweet cramer, #mad tweets. send an e-mail to madmoney@cnbc.com. it's 1-80-743-cnbc. miss something, head to mad money.cnbc.com. nobody move! get on the floor! do something! oh i'm not a security guard, i'm a security monitor. i only notify people if there is a robbery. there's a robbery. why monitor a problem if you don't fix it? that's why lifelock does more than free credit monitoring to protect you from identity theft. we not only alert you to identity threats, if you have a problem, we'll spend up to a million dollars on lawyers and experts to fix it. lifelock. join starting at $9.99 a month. >> so far we have been joined at the hip with the collapse in the stock market. if you want to understand how a communist stock market has become the most important force driving u.s. equities you need to know how we got into this situation in the first place. it's not talked about. two years ago nobody car

one year since the ipo stock price well below where it was last january.&p hasn't had an up friday since december 4th, and we are off the highs, and we're squawk alley in a pinpoint. at every turn... when you're engineered to literally to drive circles around the competition. >>> hi, good morning to you. that's right. we are building on yesterday's gains here. crude oil seems to be stablingizing over $31 a barrel, but some traders saying not so fast. this volatility is expected to continue, but it's not unexpected to see a little bit of a pop with equities moving higher today. as we go into the weekend. definitely short covering here. buy the dip mentality. it makes sense that oil would be higher. there's also a piece, though it's smaller, the winter storm as well, boosting the rest of the energy complex up. some people are saying they believe we have washed out here, that the worst is over. others are less convinced. remember that data that we got yesterday? still pretty bearish. also look at commodities across board today. we're seeing a lot of green. th

that wouldbe an ipo dwarf any other company in the world.: it would be humongous if it actually goes ahead and the prospect of it happening was given some weight by the deputy crown prince in an interview with "the economist." we do not know exactly how much would be worth because it is a secretive, state-owned company. it does not publish its revenues, but it has said how many barrels of oil it has. billionhas got 260 barrels of oil, figure which has not been publicly scrutinized. barrel,se $10 for each you can come up with the valuation of $2.5 trillion, five times the value of apple. bile,bigger than exxon mo which is the largest publicly traded oil company. of abdelhamid0 abaaoud's -- of saudi aramco's reserves. there is a possibility of political meddling. and perhaps using something like rosnef would be a better comparison. if you use the rosnef comparison you can get something closer to a vlue of $100 billion. chevron has a market value five times bigger. the truth of the matter is somewhere between that $100 billion and that $200 tri

investment banks are lining up for what could be the biggest ever ipo.udi arabia goes ahead with the offering. this is the world's largest crude producer. it is considering selling a stake of the business. let's get the latest. holiday,a public coming of age in tokyo. let's see what is going on with this selloff. we have not seen the greatest start to the trading week following from those losses from last week. we have the regional benchmark excluded -- index at a four-year low. we are saying the hang seng index holding up for your lows as well. lows. -year we have seen the shanghai market close after the morning session, down by 2.4%. there has been a little bit of support for some of those state-based companies. we are seeing a lot of weakness coming through. stock in the one black on that index. this has spread across the region. singapore down by 2%. the australian asx 200 being hit by that downturn in materials. sinces its lowest level july 2013. you can see that investors are selling out of all of the muchrs, financials very under pressure, down 2.

now, from a merger to a outright ipo. mere idea of this one shocked -- not just the equity world but the foreign policy world. saudi arabia came last week state oil giant taking ram copublic but is that a sign of disruption for a country not only struggling with oil prices but terror intentions. we're lucky to have richard here, here in a fox business exclusive. well, the news surprised everybody. did it surprise you? because it's basically an appendedge of the saudi government. >> one that has negative been opened to the public. besides of their reserves considered state secrets. liz: why would they do that? it looks to us panic a little bit as to all what's going on with oil prices where they really need to see oil a lot higher in the hundreds per barrel to make a profit or break even. >> yeah. i don't think oil is headed for the hundreds. but i can understand -- liz: so they're in trouble. >> it is. it's tight. i resist the word desperate because the size of their reserves. they are enormous. they have dug deeply in to

in retrospect the ipo in april was lucky. given that the overall stock market peaked the next month and the ipo market peaked in june. they were able to raise $200 million. if they had taken it public at today's price they would be lucky to raise half of that it's worth noting the earn ings before taxes, breech united nations or ebitda has been increasing. that's hopeful. with each quarter better than the priest one even as the numbers were decelerating year over year and the ebitda margin increased for the first time since they became public. the valuation is more reasonable at 2.4 times 2016 sales but it's still a slight premium in best of breed amazon which is 2.2 times sales. i know from my wife who uses the site etsy has improved the user experience for sellers but amazon got started just in october. we have no idea what damage they can do. it could take a few quarters before we have a sense of how bad it will be for etsy. i predict pain. most important this is still a terrible environment for high risk speculative tech

i think we need to see more fundamental performance from our pre-ipo and post-ipo tech companies. we are going to see a more skeptical lens focused on the space. it is still going to grow. it is still going to be a great space. but it is not going to be the suspension of gravity that we have seen recently. today is just sort of a dave it people are kind of vomiting up some risks they have put on may be -- sort of a day that people are kind of vomiting up some risks they have put on over a couple of years. it's kind of hard to make the argument that if you are not buying into the china party you are particularly adversely affected by trouble in the china party. emily: it will be interesting to see what measures china takes this year to prop up the economy. thank you so much. now, another stock we are watching today is tesla. shares fell a most in two months after the car maker hit the low end of its delivery forecast for the year. ♪ emily: general motors is giving a major boost to lyft, becoming a key ally in their competition against uber. together, they plan to develop a fleet of

of the gains made since the november ipo. on friday, rival first data announce new technology catering to small businesses, which make up foremost -- which make up most of square's customers. twitter hitting an all-time low among a string of outages since friday. services including search and news stream were unavailable for several hours, shutting out aliens of users. all this coming at a time when twitter is working to prove its value to millions. dorsey about it on the day of the square ipo. recruitingstantly and making sure we are building the experience that people love. that is all that matters. emily: speaking of twitter, it's former ceo has a new gig. dick costolo is founding a new startup focused on personal fitness and motivating users to work out. he shared the news through twitter, of course. we developed a system that works within this evolving landscape. that's not the only job he has lined up. he will also be a partner with a venture capital firm. coming up, ibm reports fourth-quarter earnings that beat the str

it had a great ipo and then generally you get a sell-off after that.he numbers have been quite good. all of our sell through indicators for the holiday season were very strong for fitbit, so that should provide them some momentum coming into this year. >> do you think that fitbit in some respects is paying for the train wreck that gopro's stock has been? >> there is no doubt about that. yeah, and i think the one big differentiation is, you know, gopro made kind of the cardinal sin of a consumer electronics company, they didn't refresh their product line in 2015, so i think gopro will have a better 2016. fitbit already announced the fitbit blaze which will start shipping in the spring and then likely one or two other devices beyond that. >> i couldn't help but notice though in your note today that you call this company, even though you upgraded it to outperform at the very least a good trade. that says to me that, you know, maybe in the short term it gets a pop, but i don't know if i'm a believer in the long-term story here. convince me otherwise. >> i

to come out of the gate with this huge ipo and turnaround and say oh, the market is up, we want to buyshares shows confusion of what the company wants despite of the success that they have had. hollywood seemto furtive rather than thoughtful. i think it will leave the investing community a little bit concerned and confused about what this company wants to be when it grows up. >> samsung shares have slipped after missing earnings for the fourth quarter because of growing demand for high smartphones. the income came at $2.7 billion. heidi here to go throw the numbers. we heard this from apple, now from samsung. >> i don't think anyone is surprised. none of this is particularly optimistic. fourth-quarter net product -- net profit down. that --lion under shut under shock that expectation. unsurprisingly driven by the mobile division. that saw an incredible decline. 31 to -- percent in operating profit. so not only are they not selling enough of their own high-end models. ,ll of this is trickling down they have the benefit of -- the low-end china manufacturing story continuing to lose marke

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