but kevin o'leary joins us, investor on "shark tank" and here, as always, kayla tausche, jon fortt live outside that microsoft event in new york city. guys, good morning to all of you. jon, let's begin with you. that di that nadilla in the building. >> that's right. the new ceo is here, which lends this event that much more cache. look, there are people out there saying it's a horrible time for microsoft to launch a new surface. growth in the tablet market is tapping out. listen, it's a worse time for microsoft to leave the old surface on the market without updating it. they've got to gain share here. they've got devices and services strategy. there's a range of what they're expecting. maybe a smaller tablet. those tend to be selling a bit better with lower price points, and maybe a larger tablet, as well, on the pro end, trying to get more enterprises to adopt this tablet lifestyle. two-in-one devices, tablets with keyboards that act like laptops are increasingly popular as part of the mix here. it will be very interesting to see what this new microsoft under nudella does strategy wise

jon fortt was at the event yesterday and has one with him on set today. jon? >> yeah, here it is.ice piece of hardware. you can see it's running windows 8, which is really kind of my problem with it, right? you still have this kind of funky issue where you touch certain things, you go back into the old windows look, the non-touch mode. if you're trying to figure out how to do certain things in settings, you sort of get kicked out there. and there's an equivalent in the touch arena. but this piece of hardware is gorgeous, right? i mean, really, really thin. on the back, you've got this little kickstand thing that flips out like that. it has a satisfying little snap to it, you can hear, right? >> yeah, kickstand has been getting a lot of attention. >> yeah, the magnetic keyboard attachment, right? it just goes in like that, sits up. the screen size is nice. the resolution not as high as you'll find in lenovo's sort of equivalent, but still really nice. you don't see the pixels. this is more of a laptop competitor than it is an ipad competitor. because if you want to get this whole p

. >> joining us this morning, jon fortt, jon steinberg, thanks for living with us through that.kayla tausche is live at the nasdaq where we're watching this jd news, which should open any minute, right, kayla? >> it should. right now, 13.5 million shares. the indicative price $22 a share, now looking $21.75. we're told it should be opening close to 11:00. it was previously expected at 10:25. nonetheless, very strong demand for the stock. only 12% of ipos in the second quarter have priced above their stated range. this is one of just an elite few, in a pretty choppy market, guys. >> your thoughts on this issue in general, jon. you actually tweeted provocative thoughts about it today. >> yes. >> you err on the side of liking it. >> i do. and i know cramer doesn't. here's why, alibaba -- everybody loves alibaba right there. huge. but this is a little more like an amazon play. jd's got, let's see, 323.3 million orders, 86 warehouses in 36 cities in china, more than 24,000 train delivery staff. they actually deliver their own orders there. that's hard to build, and they've got this e

we also welcome in our apple expert, tech editor jon fortt, business insiders jay yarrow, and josh brown, you have your beats headphones on, already a beats sticker on your mac. talk to me about this deal. good or bad? >> i actually think this is a good deal. look, we have this thing now where every time a technology company makes an acquisition, all the snark and shaden freud and anger, misplaced anger comes out, and makes absolutely no sense. beats is a company with a 60% market share in premium headphones. they sell a ton of these in the apple store. the company's doing $1 billion in sales and it's profitable. and they've quintupled sales in the last three years. this is a very small deal in terms of apple's fundamentals, it's not really going to have a huge impact. but i don't get the skepticism and the negativity. it's a profitable company. they didn't overpay for it. i think it's a really good idea. and who knows where it could lead to? >> when you say they didn't overpay for it -- >> i was shocked! >> -- pete made a face. >> yeah, i absolutely did. they absolutely did overpay -- >

. >> jon fortt, why does apple want this particular company? does it signal somewhat of a culled real shift for the company, to be going into this particular area? >> i really don't know why they want it. there is a third piece i which i might be the most interesting. that's topspin, basically a way for artists and labels to connect directly with their audience. but taking a step back, i remember sitting down with jimmy and dr. dre, just after they were expanding their business into cheaper headphones, and licensing the al go rhythm, their technology in hardware that made it sound the way they do to hewlett-packard. the idea was it would be in laptops, better sound. >> you customize it, right? >> it sounds better with certain times of music. so the bare cas-- bear case, th con case, is they are -- they are style in. apple would be getting into this for a brand less valuable. it's not clear that it brings in a demographic that apple doesn't have already. >> what do they get in terms of customers? yeah. >> the pro case is, is this cheap? they cou

joining us this morning liz gains and our own jon fortt as we continue our exclusive coverage of theode conference. the big news from code everyone is talking about and that of course is apple buying beets high fashion head phones, a streaming service and two important employees. here are the best hits of beets co-founder discussing that deal. >> we met the guys at apple and what we realized is that they get it. they know what we do and they respect what we do. they respect copyright and the higher food chain. that's why apple, we said and since then i always wanted to work with them. >> you have been working with apple -- >> why didn't you go in the first place. >> i asked them every day for ten years. it wasn't in the cards then. by the way these guys are not ease easy to do things. they make deals ike they make products. you know. >> i bet there was a moment -- >> yeah, there's a moment. absolutely. >> can you tell it to me. >> i'm at apple now. i can't say anything. [ laughter ] >> we just looked at this as this is a great opportunity for us to partner and do some great things wi

jon fortt, nbc news, ocean side new york. >>> california chrome was tonight's big winner at the 139th preakness stakes in baltimore and also the champion of this year's kentucky derby, which means he's one step away from winning the first triple crown since 1978, the final leg of the triple crown, the belmont stakes is june 7th right here. >>> up next here tonight, one lady's fight to save the lemurs. why this lady desperately needs our help. >>> finally tonight, known for big eyes and cute dispositions, but here is a startling fact, lemurs are the most endangered animal and one is on a crusade to save them from the greatest threat, humans. ann thompson has more. >> sweetest little thing. >> reporter: they stole the animated movie madagascar. ♪ i like to move it, move it, you like to, move it ♪ >> reporter: but in real life, lemurs are under siege, captured on island of lemurs, madagascar dancing, and singing for real in 3 d. co-starring with these often acrobat primates, dr. patricia wright. wright worked to establish the national park to protect lemurs from their most dangerous pred

>> yes. >> and he's jon fortt. very close. >> are you sure it's forte? >> yes, i'm sure. >> what do you do with the stock at this point? >> i'm a buyer. >> do you have a price target. >> yes, as of last night it was $650. >> you like what you've seen. you think it will continue to climb. i know that's not the area you play in but what have you thought about the ups and downs we've seen? >> i think this year will be big just with the new announcements. investors are seeing things they've wanted to seep this they're starting to spend their money. there's pent up demand for these new devices. i think it's incredibly positive. >> apple has stayed at half a trillion dollars longer than any other company. how long was cisco there? not that long. microsoft, not that long. apple, 537, 510. you need to keep doing things. someday there will be a trillion dollar company. >> only a couple have been a half trillion. apple has been there since 2012. >> a couple years. guys, thank you very much. >> no small feat for a gadgetmaker which was a $9 billion stock. emilio wa

joan jon fortt, they managed to pull out a beat.ern was about this part, not the 21st century fox, but book publishing, the newspapers. >> i think you look to what they say about guidance. everybody is talking about third and fourth quarter now. here's a company. that deals in media. you want to see what they are saying about advertisers and the willingness to spend. a lot of the consumer companies that are eventually putting money in the pocket of news corp., i don't know if just this headline number out of the lavt last quarter tells us that much since everybody is looking forward so much, just wondering how much gas is there in this economy. >> absolutely. we'll get more into those results and more from those calls as they happen. thank you, guys, for now. tim, appreciate it. stick around, everybody. catch more of tim seymour coming up with the rest of the "fast money" crew at 5:00 p.m. they'll be speaking to someone who thinks that nobody understands tesla right now. he'll explain why. >>> straight ahead, biotech stocks plunging

jon fortt is there with the very latest. jon, you've seen the tablet. how does it look?ll, i've got it here. you tell me. it's the surface pro 3, 12 inches diagonal. there it is. i'll show you the thinless. there. just a little bit thicker, actually, than the iphone 5, and 5s. the interesting thing here is what this device is and what it's not. microsoft is pushing it as a no compromise, kind of hybrid between a tablet and a pc. it does have a touch screen, and also a really powerful intel core processor, and it starts at $799. 129 for the keyboard that goes with it, as well. so a lot of people might get the wrong idea here, though. i was talking to an adobe executive right after the presentation wrapped up. he was telling me he thinks this is actually going to compete with apple's macbook pro more than the ipad. the power in this for adobe's customers is going to be interesting for doing higher-end creative work, because of the core processor inside. so don't think of this as a mass-market product. think of it as microsoft trying to set the bar for margins and for power

jon fortt, you'll be later back with us? minority stake, and that's a pun in my case. >> okay. >>> do you want to invest in stocks? design your own portfolio, anywhere from stocks that went public last year to tech winners over the past six months. the ceo will be here to tell us how it works in a moment. >>> and also, rick santelli working on the "santelli exchange." >> well, simon, i think today's going to be easy. but we're going to look at some of the big stories of the week. diana olick story about how all cash sales in real estate are becoming a much bigger norm than history. it's a giant jump in payrolls of athletes, and the gigabattery factory that elon musk wants to build. california might be open to it. what do all three of those have in common? you want to find out at the bottom of the hour. being a keen observer of the world has gotten you far, but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one

. >> thank you very much, jon fortt. >>> the epic patent fight between samsung and apple ends with kindallop in a silicon valley court yesterday as a jury ordered samsung to pay, that's a far cry from the 2.2 billion that apple sought. he says no matter what the financial outcome, apple may well emerge from the billion dollar legal battle the clear los loser. he joins us now. welcome to "power lunch." >> thanks for having me. >> as i understand it, that's because this is one of samsung's tactics, they basically keep appealing, there are more suits, more appeals, and in the process of all of this, they use that time to gain market share. is that in a nutshell kind of what's going on? >> yeah, i mean it's sort of like a military tactic. you lure people, you know, into a battle that they're destined to, no matter what happens, they're destined to pay huge amounts for. i mean, samsung has a history of violating patents. it's a pretty aggressive history. when they do, and when they get sued, they countersue, saying oh, well our patents were violated, and many, many times those claims are thr

. >>> let's send it over to jon fortt with a look at what's coming up on "squawk alley." 140 characterswhat might apple really want from a beats deal? and the priceline model for movies. that's 110 characters. we'll see you coming up on "squawk alley." financial noise financial noise financial noise sfx: sounds of marching band and crowd cheering sfx: sounds of marching band and crowd cheering so, i'm walking down the street, sfx: sounds of marching band and crowd cheering just you know walking, x: sounds of marching band and crowd cheering and i found myself honoring america's troops.de ich is actually ite fitting because ico has been servingng band and crowd cheering and i found myself e military for over 75 years. aawh no, look, i know this is about the troops and not about me. right, but i don't look like that. who can i write a letter to about this? geico. fifteen minutes could save you fifteen percent or more on car insurance. you are gonna need a wingman. and with my cash back, you are money. forget him. my airline miles will take your game worldwide. what i'm really looking for

. >>> cnbc's jon fortt and morgan brennan join us.k an degreesen, seed investor in twitter, says he needs more than 140 characters for his long tweets. in an interview with "new york times," he says twitter should raise the limit to 300 or 400 characters. what do you think of that, jon? >> i kind of disagree with him on this one. yes he's become infamous for his tweet storms, ten-part tweets. i'm not sure 400 characters would even help him that much. most people really don't need the extra space. 140 characters is too much for some people on twitter already. >> morgan? >> i think it's an interesting idea. i don't necessarily see it being changed our upped, but it's an interesting idea. everybody compares twitter to facebook, but the argument has been made that twitter needs to be compared to youtube, instead, because it basically broadcasts content across the web. i think today's stats are a real good indicator of that fact, you know, looking at social tv and twitter's player in that. for the twitter audience, the ratio is 50:1. that

jon fortt and john chen, thanks very much. silicon valley to see if he can succeed on this front. breaking news on apple. josh lipton in cupertino with the details. what can you tell us, josh? ? >> reporter: here in cupertino, california, where apple is just announcing that it's acquiring beats for $3 billion. i just had the opportunity to speak with apple's tim cook and the beet co-founders jimmy ivy and dr. dre. they, by the way, will be joining apple as employees. now, this transaction, kelly, is expected to close in q-4, cook telling me it will be accretive in fiscal year 2015. i asked cook why he decided to do this deal. started talking off about the tradition of music in this company. we know steve jobs, of course, lived and breathed music, cook telling me they did $35 billion in songs that were download. why beats in particular. cook told me, first of all, it was the talent here and jimmy ivy and, remember, he called this a cultural affair. ivy has known apple a long time. talked to me about how much he had known steve

jon fortt, what was your take on the surface tablet? >> i smelled that? i got one here.ndeed light, and it is bigger at 12 inches. interesting, though, it starts at $800, just base level. the keyboard is another $130 on top of that. i was talking to an adobe executive who thought it would compete with mower the mac pro. microsoft didn't decide to package the keyboard with it. i think it's an attempt to pull the ecosystem up, preserve margin, within the system as more of the devices take on this touch functionality. >> i think you hit on the point here, the price, $7999 for the lower end i think $1949 for the higher end we were saying who will pay for this product here? >> microsoft definitely took a step in the right direction in terms of what i in the is a more, you know, competitive tablet that could do this laptop replacement, but again they're late to the game. the price points continue to be a bit of a head scratcher. this is be his challenge. he laid it out good, the launch, but it's an uphill battle. >> a head scratcher. the surface is a neat device. i've said i l

. >> this seems important for that reason, jon fortt. the talent that they're talking about, couldn't you get that talent for less than $3 billion? >> i'm skeptical about this deal, kelly. i think if you get -- if you want jimmy, should you have to pay $3 billion to get him if you really want to come to apple? also, i think there's personality questions. the makeup and cohesion of apple's executive team has shifted post-steve jobs. people with strong personalities haven't fit in as well. and a corporate job for dr. dre. i hasn't even finished that album yet. shouldn't he finish the album before he comes to apple? finish the album, dre'. >> maybe that's on the to-do list. there's so many interested parties, many of them interesting personalities, they're not using advisors. you have two big private equity firms, carlisle on one. then you have apple. then you have beats. and all of the people involved in this. and everyone is probably trying to demand a certain price without some sort of third party. i'm not saying bankers give the best ad

jon fortt joins us.e has a look at everything from google's driverless cars and the new brand for the pc. >> it's 3:00 a.m. here. good morning. gwyneth paltrow, i'm going to say it, she rambled. people found her message important about being more sensitive on the internet but she did ramble. let's talk about satya nadella, microsoft ceo had his first time in a hot seat in an interview on stage. comported himself well. he showed off skype translate, it does realtime translation between languages, the head of the communication division spoke in english with someone on the other end speaking in german. satya nadella had this to say about bill gates' return to a day-to-day role at microsoft. listen. >> i think of bill's presence, bill's sort of push, high standards, is helpful. at the end the day, there's no confusion, i run the place, i'm the ceo. i'm responsible for it and bill's helping. >> and make no mistake, also he wasn't going to divulge too much about operational plans, even about strategic plans bu

. >> let's send it back inside where jon fortt has a look at what's coming up. cnbc. >> a little tease of what's coming up next. do it twitter style. 140 characters or less. here goes. a new google buy bigger than hulu or facebook. and paris on pushy bosseses at the times and that's 139 characters. #squawkally is next. we're moving our company to new york state. the numbers are impressive. over 400,000 new private sector jobs... making new york state number two in the nation in new private sector job creation... with 10 regional development strategies to fit your business needs. and now it's even better because they've introduced startup new york... with the state creating dozens of tax-free zones where businesses pay no taxes for ten years. become the next business to discover the new new york. [ male announcer ] see if your business qualifies. my golden years will not just be gold plated. become the next business to discover the new new york. i had 3 different 401(k)s. e*trade offers rollover options and a retirement planning calculator. now i know "when" i'm

our own jon fortt is here at post 9.if anyone thinks tech valuations are too high, don't tell that to pinterest and uber. uber is in talks to raise new financing that could value the company at more than $10 billion. kara, have we crossed some line somewhere? what's reasonable right now? >> well, no, i guess if people are paying the money, that's what they're paying. i think they're starting to get lofty. it used to be $1 billion valuation was a big deal, and now it's 10 with uber and 5 with pinterest, and so many other hot ones are getting valued. snapchat is doing the same thing, raising money. i think they're all worried about the competition, in uber's case lift, which is raising money and dropping prices using that money. they all feel they're going to get while the getting is good, presumably. >> i guess justin timberlake will have to reprice the line, you know what's cool, it's $10 billion now. it's not just $1 billion. these in particular don't strike us as that crazy. you look at pinterest and the data, in terms

all right, jon fortt, we'll see you later this hour.ning us. >>> we want to stay in tech, though. we're turning the dashboard into an apple interface, that's just become a reality. josh lipton is in the valley with a test drive. josh? >> yeah, kayla, for the tech titans, the next big battle isn't your home or your office, it's in your car. and in that fight, apple is making news today. pioneer electronics will soon start selling five radios that are compatible with apple's car play. the technology allows consumers, remember, to use their iphones in their cars to make calls, use maps, listen to music, and access messages with their voice or touch. the pioneer radios are going to sell for between $700 and $1,400. and retailers like best buy, i'm in here, in march, apple had announced it was partnering with a range of carmakers from mercedes to toyotas, but now you'll have to buy a new car, you can upgrade the car you already own with pioneer's technology. >> there's still a lot of consumers that don't want to go out and make a new investm

jon fortt will join us with the details. first the morning's other top stories.ft in may. stocks are now on a four-day winning streak. the s&p 500 and the dow transports closed at record highs yesterday. the nasdaq had its best day in two weeks to close at an eight-week high. we've been watching the futures this morning after all of that. you can see they are indicated higher once again. dow futures indicated up by 31 points. s&p up by 3 points and the nasdaq up by 6.5. when ire talking about the bond market, rates remain incredibly low. the yield on the ten-year right now sitting at 2.5%. there are two bond sales that are set for today. treasury will be auctioning $13 billion and floating rate two-year n

for cnbc, i'm jon fortt. >>> let's give you a look at what u.s.utures look like a couple hours before the start of the trading session, the s&p 500, dow jones and nasdaq seem to be bouncing back from the fairly big losses yesterday. small caps once again underperforming. we'll be back with plenty more after this short break. >>> welcome to "worldwide exchange," i'm carolyn roth. the end jumps as kuroda stems the market with his optimism. he says the country is already halfway to meeting its 2% inflation goal. >>> the deal is not done. russia reportedly fails to reach an agreement with china over gas sales as putin's trip to shanghai wraps up. >>> burberry and vogue, the fashion house posts an 8% rise in annual profit and says japan will be a key platform for future growth. >>> the fed may soon fill a vacant seat at the fomc round table as the u.s. senate could vote to convert stanley fisher to vice chairman as early as today. >>> you're watching "worldwide exchange," bringing you business news from around the globe. >>> good morning, everyone. is

we'll have more on this story from jon fortt at the code conference in just a few minutes.ing on this one. the video from dr. dre himself already out there.

carol roth, david darst, jon fortt and kayla tausche. guys are having an impact on markets in vegas. you think this has to do with david tepper being a little nervous? >> it definitely had hadding to to do with the comments david tepper made, no question. but the things that are happening now have been in place for some time. carol pointed out in january the russell was probably overextended. she was right and her timing was spot-on. i've been telling you for months and months that interesting rates are going lower. deflation is the enemy that the fed's been fighting all along and that rates will continue to go down. rates are trying to tell you something. david darst probably has a much different perspective. that's what makes markets but i'm convinced rates are trying to tell you the economy is not nearly as strong as the s&p wants to indicate that it is. >> i want people to know we'll have full report on jcpenney's earnings. shares look like they are moving. david, respond what you heard from guy. >> carol and guy, we've been saying -

but kevin o'leary joins us, investor on "shark tank" and here, as always, kayla tausche, jon fortt livecity. guys, good morning to all of you. jon, let's begin with you. that di that nadilla in the building. >> that's right. the new ceo is here, which lends this event that much more cache. look, there are people out there saying it's a horrible time for microsoft to launch a new surface. growth in the tablet market is tapping out. listen, it's a worse time for microsoft to leave the old surface on the market without updating it. they've got to gain share here. they've got devices and services strategy. there's a range of what they're expecting. maybe a smaller tablet. those tend to be selling a bit better with lower price points, and maybe a larger tablet, as well, on the

. >>> as always, discussing the biggest tech stories, our cnbc contributor along with jon fortt.r joining us this monday morning. shares getting rallied after upgrading. see that stock up $1.10, nearly 4% to the upside. nasdaq also seeing big gains today, up 1.5% as well. the collapse of momentum stocks from the beginning of march, twitter is in that group. if you've been holding on the entire time should you expect things to bounce back. david is talking about the future of the momentum last week. >> there's a strategy. momentum reverses and tends not to be a factor that leads the market going forward. the idea of price momentum and strong enterprise to sales historically speaking has not been a successful strategy over a one year, five year basis. we're looking more for valuation as a characteristic to look at. >> just this morning, kostin has a note out saying you should expect further slides in momentum gains. do you have a sense this sell-off will hit those who have been able to hold on or what do you think? >> you look at net sweep, up 5%. paolo alto networks, up 5.1%. mome

. >> joining us this monday, john steinberg and cnbc contributor our own jon fortt.d. >> you can add amazon products to your shopping feed and use the link amazon cart and it is added to your shopping cart when ever you like. here is the ceo this morning on "cbs this morning." >> the announcement we're making with amazon this morning is a great example of this in the moment commerce. we talk about now commerce and realtime commerce if somebody tweets something with a link to amazon and you reply to that tweet and say #amazon cart, we'll put that item in your amazon cart once you connect your twitter account to amazon. >> everybody knows e-commerce is one area they're starting to play a little more. >> you did that this morning? >> i did it. even with the way costello is explaining it, a little bit weird. a tweet comes out with an amazon product and look at the tweet and reply to it and add it to your cart. it doesn't make a lot of sense to me and part of the logged in user story they're not growing right now. not where people see tweets everywhere. too small of a sto

>>> and john steinberg, a cnbc contributor, along with jon fortt. good morning, guys. , finally after getting an upgrade. it stops the bleeding a bit. the stock's still down 15% in the past week. jon, you have a theory on why stocks like this, king, linkedin, have gotten hit so badly. >> i think the laws of physics are kicking in. there's only so much usage people can do. if you're on your device, using kink and browsing, people are now spending five hours and change on digital, versus 4 1/2 on television. the sky is not limitless for usage of these applications. >> you're talking about existing users. that's why the emphasis is on new users, right? >> the new users have to come from somewhere. with mobile device penetration on smartphones reaching saturate in the developed world, if you're going to spend time on something, and a new user, it will take time from another application. >> that's really smart, but i think that's why it's not true. it's too logical, too much sense. so many of the stocks who are trading together, workday, with linkedin, with twitter, actually

. >>> joining us this morning, henry, editor and ceo of "business insider" along with our own jon fortt. good morning. >> good morning. >> we want to look at the markets. what a farrow range we've been in. as you know, s&p 1,900, destined to be the story of the morning. we did get there. but just barely. and this will be about ground for the afternoon as to whether or not the bulls can carry us through to higher levels. but it took 170 days to go from 1,800 to 1,900 and the question is, what's next? >> there's some speculation yesterday that risk was back on as some of the momentum names moved to the upside. russell 2000 was up better than 2%, its biggest move in over two months. today, that's flat-lining. it looks like there was short cutting. >> right. we'll watch the dow, as well. speaking of which, ibm, the tech giant, hoping its annual shareholder meeting in new york city tomorrow. ahead of that, the new ceo set down with our own david faber for her first-ever television interview. david is live at one of the digital experience labs in new york city with the highlights. good mornin

joining us this morning, still buzzfeed's ceo, cnbc contributor, jon steinberg is here, and also jon forttl talk about the next steps in a few minutes. first, let's talk about google. the glass ceiling has been shattered. google glass is available to anyone in the country, assuming google has enough copies on hand. it's unclear how many people will buy glass because of the $1,500 price tag. more google news. the company helps a big demo of self-driving cars yesterday. google says they're about six years away. the company is talking to automakers about the software. jon, you've been in one of these, and the word you use to describe it is -- >> magic. yeah, magical -- the most amazing thing to me was the car looks at traffic lights, and if it can turn left, it will turn left. a truck pulled up on our side, and the car had a blind spot. so it didn't make a left-hand turn. so it's pretty amazing how smart it is. the ride is smooth. it worked perfectly. >> why are they commenting on it now? is it moving forward in is it getting closer? >> the article this morning said claire johnson, a longtime