so it's possible that was it. >> why would you not take les moonves at his word? because i work here, what a great way to handle it to do it fast, to do it cleanly, and just stop all the speculation. >> i think in this era of social media and constant internet commentary you don't want to leave something like that out there festering. you want to get it done. and now they can focus on transition and i think dave can probably enjoy a year of high ratings and so can colbert as they kind of do their farewell tours. >> and the winner are the viewers who has three new talents doing those shows. >> it is a changing of the guard, isn't it? two years ago the landscape looked completely different. and it's exciting to see what happened. >> mike hoe fwan,,, >>> a new class enters the rock 'n' roll hall of fame. some of them didn't really want to be there, but it was still quite a show. we'll bring you the highlights next on "cbs this morning." the ♪ >> announcer: this morning's "eye opener" at 8:00 is sponsored by panera bread. find your panera favorite at panerabread.c pan

ge's ceo, jeff emelt, and les moonves and arnie sorenson.ntributor. good morning. >> good morning. >> let's recap twitter. revenue in line -- actually a beat, adjusted ebitda, a beat, the guidance for the year good. investors today obviously disappointed that a monthly average users did not grow more than being simply in line. some weakness in international. the stock today is on pace for its third worst day since going public last fall, as investors worry about the lockup expiration, of course, on may 5 kt. we did talk to dick this morning. so many big deals in tech lately. we asked him, dos he feel the urge to buy something big. >> we're very focused on strengthening our core products, twitter and vine. i don't feel any particular compunction to do that. we have three specific things -- growth, operating leverage, and operating efficiency. and as we strengthen our core and service to growing our core products, we'll be fine. >> are valuations right now, i'm thinking whatsapp, are they taking your breath away? >> they're significant. how's

. >> reporter: les moonves is president and c.e.o. of cbs. why stephen colbert?nd managers, but the one that stood out among all of them was stephen colbert. i think he brings an originality. he brings a great deal of intelligence. he is so versatile. >> we turn now to our senior viral analyst dr. stephen colbert. >> reporter: colbert was a correspondent for eight years on "the daily show" with jon stewart. he got his own comedy central show in 2005. the colbert report has won four emmys and two peabody awards by skewering politicians, the media and hollywood. >> this is america, and we don't need to know where a country is to send troops there. >> reporter: the comedian made his name by pretending to be someone else. on "60 minutes" in 2006, morley safer asked him about his know- it-all alter ego. >> that character that you play, is he smart or is he proud to be stupid? >> i think of him as well intentioned, poorly informed, high status idiot. >> reporter: nearly 50, he is now part of a generational sea change in late night. >> jimmy... fallon! >> reporter: 39-y

. >> before we go to break, cbs ceo les moonves, compensation for 2013, nearly $67 million. >>> if you've got a question, send us a tweet. scott's taking a look at a bullish trade on twitter. you'll want to check it out. here's what's coming up next. >>> what do these three men have in common? >> i think they're vain. >> no, it's that they've all made morning calls in the market. we'll tell you how you can protect yourself and after a terrible week, can now be the time to buy solar stocks? a little-known indicator says yes, and we'll reveal what it is when options actions returns. [ indistinct shouting ] ♪ [ indistinct shouting ] [ male announcer ] time and sales data. split-second stats. [ indistinct shouting ] ♪ it's so close to the options floor... [ indistinct shouting, bell dinging ] ...you'll bust your brain box. ♪ all on thinkorswim from td ameritrade. ♪ [ bell ringing, applause ] five tech stocks with more than a 10%... change in after-market trading. ♪ all the tech stocks with a market cap... of at least 50 billion... are up on the day. 12 low-volume stocks... breaking into 52-we

news about david letterman's retirement yesterday so he wrote a letter to our boss, cbs president les moonvessking to bring the next late night show to los angeles. >> it would be great for los angeles. we love having jimmy kimmel here, for instance. we have loved having the tonight show up until recently and los angeles can produce the best shows at the best costs. and we want to make sure that people continue to see that. >> letterman is expected to end his run sometime next year after three decades as a late- night host. >> they should bring it to san francisco. >> why not? >> i think -- >> letterman came here for a week. he could do the whole thing here. >>> now for a look at what's ahead on the "cbs evening news." >> we have scott pelley in new york. scott. >> reporter: hi, allen and liz. great to be with you in the bay area. what drove the fort hood shooter to kill? we can now tell you what investigators believe set him off. plus, we are going to show you where a spring storm delivered nearly a foot of winter. those stories and the rest of the world news tonight on the "cbs evening news

laughter ) with that vote of confidence... ( laughter ) earlier today, the man who owns phis network, les moonves-- he and i have had a relationship for years and years and years-- program and i said, "leslie, it's been great. you've been great, the network has been great, but i'm retiring." >> reporter: letterman began his long career as a weatherman in indianapolis before moving to los angeles in 1975. he became the host of "late night with david letterman" on nbc in 1982. re years later, after nbc chose jay leno to replace johnny carson as host of the "tonight show," letterman jumped to cbs. >> "late show" with david letterman ." >> bringing his hallmark top 10 list with him. >> we don't have the timing, i think it will be at least a year or so, but sometime in the not- too-distant future-- 2015, for the love of god-- in fact, paul lld i will be wrapping things up kid taking a hike. ( cheers and applause ) >> reporter: after nearly 6,000 shows on two different networks, when he steps away, david letterman will end the longest late night hosting run in television history. >> i just want to reit

have some big news from our friend, david letterman, tonight, who made a call to his big boss, les moonvesy. >> i said, leslie, it's been great. you've been great. the network has been great. but i'm retiring. >> really? >> yep. >> this is -- you actually did this? >> yes, i did. >> wow. >> but some time in the not-too-distant future. 2015, for the love of god, in fact, paul and i will be wrapping things up and taking a hike. >> and with that, a standing ovation from his audience. this will end letterman's 21-year run at "the late show" desk. the fast and brilliantly funny guy with the gap-tooth smile started out as a weatherman. and turning top ten lists, stupid human tricks, even his mom, dorothy, into cult classics. our jimmy kimmel says this, letterman is the best there is and ever was. there's only one dave. >>> and coming up next, the hero in the hoodie. what this man did that has an entire city cheering. tonight, his message for everyone is "america strong." don't we grow something more? we grow big celebrations, and personal victories. we grow new beginnings, and better endings. gr

s,cording to les moonve letterman told him "i cannot think anybody else." seems like everyone is showing colbert love. >> stephen colbert is up for the challenge. there is no greater joy than seeing a genuinely good man who works as hard as he can, every day, and deserves all the success in the world. for stephen we are thrilled. >> another person likely to assume a new role, sylvia burwell. president obama nominated her new this morning as his health and human services secretary. kathleen sebelius offered her resignation this week after the botched healthcare.gov rollout. white house officials said sebelius made the decision to resign and was not forced out. one person not to happy with former secretary of state hillary clinton. >> about -- [indiscernible] h, clinton dodged a flying shoe while speaking at the mandalay bay in las vegas. controversial stuff. if you remember, george w. bush in two shoes thrown at him 2008. almost an initiation to the presidential office. >> she is ready to be president. >> that was serious stuff. they could have hurt her. >>

. >> what about the threats from les moonves, and the like, they will turn their broadcast networks intonnels and render your low-cost alternative neutered? >> it is very unlikely that a broadcaster who built their business on spectrum that they got for free. spectrum by definition blocks of the american people. they got it for free in return for investing in and building a direct system. if you could get the signal directly, you could receive it without anyone in the middle. it is very unlikely that they would be able to take that broadcasting away from that distribution of that signal. and put it in a solely paid system. >> when moonves says it, it is an empty threat? >> it is a nice threat to convince anyone like the court or congress that this would be a terrible thing, to disenfranchise 60 million people right away who do not subscribe to cable or satellite and who do get over the air. it is inconceivable to me that it could actually happen, but i can understand people saying -- it is like the least realistic alternative. >> what does aereo want to be when it grows up? what is there

if you take a look on what les moonves made, cbs has been doing really well.is the most-watched tv network in the united states. revenue, asing at a well as higher subscriber fees from both satellite as well as cable customers. that helped cvs -- cbs do well. >> the man topping the list, a certain yachtsman. >> larry ellison topping the list at $78.4 million. that is an increase in terms of total compensation close to 9% compared to 2012. you know what? he needs to get paid. he has a very expensive hobby. the america's cup is not cheap. so, he needs that cash. $78.4 million, that's a lot of dough. one of the greatest comebacks in sports history, ben ainsley, british, of course. checking some other stories making headlines around the world, the search for the missing malaysian airliner has become even more difficult with the grudging acceptance that the black box batteries have probably run out of power. an international fleet of planes and ships continues to scour the ocean, but nothing has been heard since last tuesday. detected and then were deemed consisten

that code 2's problems have more to do with the declines in cbs and time warner than anything that les moonves, ceo of cbs, or time warner's ceo might have done at their companies. thing is the classic examples of turning good stocks into weak ones as opposed to bad fundamentals. don't forget when that's blood in the water over hedge funds shoot at the code 2s. let's talk about supply for a moment. i keep telling you about this concept of too much stock becoming public and being sold by inride issers for days on end now. ant, i heard a money manager asked about whether supply, specifically from insider selling is playing in i role in the recent sell-off. the manager shrugged it off. said it wasn't a factor. frankly, i was stunned at his answer. this kind of naivete is shocking to me. you have learned nothing from that era. so let me enlighten you. first stocks go higher because there's more demand than supply. that's the way it works. at the end of the day, people, stocks are simply merchandised no different from sweaters or coats or toilet paper, outdoor furniture, whatever. merchants can cha

he said he called the cbs president, les moonves, right before the show. >> i just want to reiteratel of the people in the theater, on the staff. everybody at home, thank you very much. and what this means now is that paul and i can be married. >> nicely done. nicely done. who knew? >> finally, those two, tying the knot. >> about time. president obama weighed in tweeting, there will be more than ten reasons david letterman will be missed. >> jimmy kimmel had kind words saying david letterman is the best there is and ever was. >> ellen degeneres said it's been an incredible 31 years. television won't be the same without you, dave. so the question, who could possible fill the shoes of david letterman? >> craig ferguson, the host of "the late, late show" which is on right after david letterman. he reportedly has a clause in his contract which gives him the right to replace letterman when letterman retires. >> another name tossed around, john stewart, "the daily show" host's contract is up in 2015. >> conan o'brien, whose show also expires in 2015. an offbeat choice, but could work, chel

liz: les moonves and chase careys of the world would be thrilled what you're saying because we're insiness. what about auto guys traditionally spend money ex recessions on marketing? where do they find best return on ad dollar spent? >> they don't measure them liz. they don't measure them enough. they will tell you they do but they really don't. the true ability and desire to measure metrics versus aesthetics and cool factor of online advertising, i mean i wrote your marketing sucks because i think there are so much aesthetics in marketing. they tell you they measure but they don't. they tell you how many impressions and how many clicks they got and hough face time but can't tell you how many cars you sold from it. liz: cars they sold. >> but you can infused with creativity. you look how many times you actually bought something important on your phone. probably zero, zero. or one, two. liz: i go on or an ipad or tablet. >> that is from email you get from a store that you do business with. liz: yeah. >> just an ad popping up somewhere, you probably not responding to it. rich: clerk on

let's invest -- les moonves has been most vocal about aereo.gine that they are going to be watching this very closely. josh, you have written some pieces about the impact of this case. it going tos, is be as life-changing for media as others have been saying? >> it is not clear that it is going to be an immediate shift. even the people i talked to who a step towards a long-term end of television as we know it. aereo gives you broadcast channels, if you look at what youle watch on television, are not going to be able to watch monday night football" not of -- you're going to be able to watch monday night football and "game of thro nes" if all you have is aereo. >> other broadcasters, are other places looking for another outlet. looking towards aereo as a way to get into homes? itright now you have aereo, has been relatively small. the court case has hampered growth but given it a lot of attention. for it to be a viable outlet it will have to grow in scale. then you will see other content companies looking to get on board. >> i was going to say ye

in boardrooms where lessman does -- andy boardrooms with le -- in the boardrooms with les moonves, bobr. they have created content and now they are seeing this on the web. >> their market caps are based on the value of their cable networks and cable programming. they will be careful about making that programming available online. that is what destroyed the printing industry and the music industry. making programming that is available for free. they will be careful about protecting it. defensively, they are concerned people are going to be watching more and more television shows and content online. they have got to be involved in that distribution as well. arch coal what do you make of ron howard? >> i love ron howard. >> your first client when you were a practicing lawyer. ron howard getting into digital with discovery. whoainstream filmmakers appealed to a huge, broad audience worldwide are recognizing the importance of going online. it is fun for people like that. people like ron who make movies -- they think like a kid. they would be making movies for an online audience? is that whe

you sat next to les moonves, did he not seem like a billion dollar man to you? >> almost is.dollar employee, incredible. >> let's get the opening bell here at the exchange and a look at the s&p at the top of your screen. as we said, down here captain america chris evans, sebastian stand celebrating marvel's "captain america the winter soldier" out in theaters this friday. and paychex the provider of payroll and human resource and benefits outsourcing. we want to get straight to dominick chu who has auto sales figures out of ford. >> ford is reporting march u.s. sales rose by 3.4% compared to the same time last year. now, that's better than the 1.6% increase that analysts had anticipated. ford sold over 244,000 vehicles during that month. its best march total in over eight years. a quick note, though, gm was originally expected to issue sales numbers at 10:00 a.m. eastern time but that will be delayed a few hours due to computer systems issues, so, again, better report for ford. gm's report will be delayed until later this afternoon, carl, back over to you. >> thanks, dom. tha

last time i spoke to less move as, we talked about broadcast versus cable -- last and i spoke to les moonvesoadcast is still king. i guess this chart basically shows that. of cable a lot networks out there. >> exactly, so they get to pm's, and one of the interesting fact is they reach the lightest viewing audiences. they someone like you who is a busy professional who does not watch that much tv, on average, you are more likely to get your marginal viewing from a broadcast channel than a cable channel, and because cable has the heaviest viewers in general, it is more expensive to charge on broadcast so you can reach a broader audience. >> it is a broader audience, although i would argue i am the exception because i still watch mostly cable. let me ask you about the digital stuff because that is really important for all these advertisers as well. what does that open a stream look like? >> you are seeing things like youtube, hulu, microsoft, aol, and they raised about a billion dollars last year, which is pretty good given that one broadcast network is about 2 billion. that's the high-growth a

les moonves. did you guess it? i did.t makers," join us next week. ♪ >> coming up on 56 s, bloomberg is "on the markets." i am julie hyman. taking a look at stocks, paring losses after the s&p suffered its worst decline. surged and is now trading above 16. vix is not the best judge of a fullback. he is joining me to explain why. people look at the vix as an indicator of the so-called fear index. indicator of how much complacency or anxiety there is in the market. why is it not necessarily the best indicator of that right now? >> there are silver problems. i'm not saying the vix is a bad index, it is how you use it. the vix is an amalgam of all the options in the first two months expiring in the s&p. you have a lot of stuff piled in together. when you keep adding data you get less specific. more important, vix options are not based on the vix index. the vix options listed under the index are based on futures. the last thing is this, vix calls, adam the money, upside calls are very expensive. people who buy protection and t

the head of cbs, les moonves says 12:30 is up in the air, which suggests ferguson could be leaving inthat it's figured out one you transition from letterman to colbert, they may have another one on their hands. fred, back to you. >> lots of work to do. brian, i appreciate that. >>> in a moment we'll return to our look at the missing malaysian airline flight 370 a month after the plane went missing. now malaysia airlines intensifies its security measures. not all members are happy about that. gunderman group. gunderman group is growing. getting in a groove. growth is gratifying. goal is to grow. gotta get greater growth. growth? growth. i just talked to ups. they've got a lot of great ideas. like smart pick ups. they'll only show up when you print a label and it's automatic. we save time and money. time? money? time and money. awesome. awesome! awesome! awesome! awesome! awesome! awesome! awesome! (all) awesome! i love logistics. peoi go to angie's listt for all kinds of reasons. to gauge whether or not the projects will be done in a timely fashion and within budget. angie's list membe

he talked about the phone call he had with les moonves. >> i said leslie, it's been great. the network has been great but i'm retiring. >> really? >> yep. >> you actually did this? >> yes, i did. >> wow. do i have a minute to call my accountant? >> it's hard to believe david letterman is about to turn 67 years old. they crowded around dorm room television sets, doesn't seem to have lost much relevance. he's been joined by many younger rivals, lots of them nailed jimmy these days. the late night market that has its sights set on young viewers. found the late night office politics interesting to watch. battling with jay leno for "the tonight show" job. the next person in line has years of speculation. the person who might replace david letterman includes stephen colbert and neil patrick harris and craig ferguson. and then there are the politics on late night television. for years politicians and late night tv a strange but necessary symbiotic relationships. they depend on washington's antics to fill their monologues. no matter how they may object, political candidates all wan

can you do the exact same thing and now aereo -- >> les moonves has said he will start a service just like this if aereo wins this case. >> sure, that's the whole idea of technology. it is a technology, just like broadcasters tried to stop sony, the beta max 20, 30 years ago. it is being challenged in the courts and the courts there said there's nothing wrong with beta max and vcrs, technology that's obsolete. it's an advancement of technology, and we should embrace it. >> an advancement of technology is great as long as it follows the constricts of the law. >> to me, it sounds like aereo -- >> -- has said that. >> -- when you start to play out the ramifications, it sounds like aereo is doomed if it wins or doomed if it loses. >> why if they win? >> if it wins, the other broadcasters say, we'll mimic that broadcast. we'll mimic that business model, we'll do it ourselves, barrier to entry is low. and then they're going to get their lunch eaten. they'll have a lot less market share. >> you're nodding, hillery. >> and the big players are coming. if they do win, the bigger players who hav

it's interesting because, you know, i've worked for les moonves, i proudly would call him my boss if as, the owner so to speak. i don't know why because i could fit it into between the other two shows. it's not a rob. >> are you a leno or letterman guy or are you going to be politically correct here? >> i'm friends with some of the people who are writers for letterman so it goes way back. >> it goes all the way back. >> really for a long time. >> what do you -- do you tie it to anything happening right after jimmy fallon? i was thinking he was hoping to make inroads on "the tonight show," but it's not happening, though. >> i will be political here. fallon show's is incredibly funny and i watch the clips in the morning, god, he's great. the paul rudd, the paul rudd karaoke may be the best tv of this decade. just fantastic. >> i am out of here, who needs this. >> i've been trying to get a fallon ticket, if you can get a fallon ticket, i only work at the network. >> i'll get you one, what's your e-mail? >> we'll share it after hours. >> thanks, jim. see you in a couple minutes. >>> we'r

>> les moonves said it was very important to get the endorsement of david letterman and stephen colberthe change that has happened in the last year. it's not like that would happen here in the mornings. >> no. >> but at night, it's like crazy town! >> i know. >> crazy stuff! >> but it's exciting. fresh face. i think it invigorates late night. >> it's going to be fun. edgy. and i think it is fascinating what he will bring as far as colbert. will he go straight-laced? what will he do? >> and who replaces him on comedy central? >> oh, right. >> so it's this domino. >> crazy town. >> chelsea handler was a name being mentioned. >> amy schumer is great. she already has a show over there. i'm going to throw out key & peele. they're hilarious. >> tracy morgan was on here making the case. he hadn't gotten the word yet. >> tracy morgan lobbied for job that had already been given. >> as long as there's a "rio 3", he's in good shape. >> who's not in good shape is this person who's been arrested and now charged with throwing a shoe at hillary clinton. it happened in las vegas. take a look here. the

moonves was an actor, remember. and then you have bob. >> iger did he start out at one point on television? >> moon vves did. was bob an actor? >> no les> talk to jim and i'll look this up. >> to the new york stock exchange. i don't have to do anything. let me get to jim cramer who joins us now. >> who was a weather man. so was david letterman i think. what's going on? who do you want on and off? >> i thought the jack welch interview was incredible. i have howard schultz later and it's true, you want to be an entrepreneur but what jack said was extraordinary, it's not fun, it's not great anymore. kind of spellbound by jack because jack is inspirational for a lot of us who wanted it to own our own business or work in business and i think that if you look at what's happened over the 25 years i think it's been terrible to go be the president, be a politician, but it's gotten terrible lucrative to be a ceo and i thought what jack was interested, he never talked about the money. the money is great. doesn't seem to mean that much for people in his position because it's not fun. it's just a labor of hate. >> right. >> i thought it was great c