i do linkedin.because we had this intense experience together we have a tight network. >> who do you call for what? >> that is bold models, i called peter. at the intersection of is this models or business technology, for a willingness to think super big with risk, elon musk. >> what what do they call you for? >> last. >> i heard you are quite funny. >> occasionally. a view of the valley. i am thinking about x, who are the right people to talk about x? >> looking back, was that the right decision? some other members of the paypal mafia think they are better apart. >> it was the right decision at the time and we made it collaboratively. part of the reason was to get to the right level of the payments transaction system. it required much closer connection. you can say is it better inside or outside and one can make good arguments both ways. the argument with is there is still a lot of density. the argument against it is maybe paypal should be with the bank. the evolution is to head there in some direc

he is the cofounder and executive chairman of linkedin.e is also a partner in a venture capital firm. where he focuses on a number of opportunities. his new book is called "the alliance." i am pleased to welcome reid hoffman back to the table. >> great to be here. >> did you give justice to my co-authors? >> they are serial entrepreneurs and authors in their own right. ben and i, that was our first cooperation. >> what did you set out to be in your life? >> there was a version in which i was aspiring to be you. >> really? >> i would rather be you then me. >> a public intellectual. a person who talks about who we are as individuals and who we should be. >> that is what we do here. >> originally, i was the canal was going to be an academic. i realized academia in most of its forms does not resonate. i decided to become a creator of software. >> does the fact that you have been so good at this give you an opportunity to have a voice in the national conversation? >> i hope so. maybe more overtime. anything from writing books to helping todd pa

linkedin is rolling out a new design on its mobile product.he professional social network has been on a buying spree come acquiring companies. the startup comes the internet for blogs that mention users friends. the senior vice president of product and user experience joins me now from mountain view, california. thanks as always for joining us. tell us about these new mobile profiles and how they are effort from the old ones. >> it's great to be back on this show. it's always good to talk to you about new and excited things going on at linkedin, especially in the world of mobile. we launched our new profile and it follows the team of relationships. we launched a new product called connected on mobile devices and we truly believe they should ships -- relationships matter. one of the reasons we established those relationships is when we meet new people and want to know more about them. rather than using the age-old icebreaker of how is the weather? it's been a real hot in silicon valley or what's happening with the price of gold -- thee profile

what is he thinking about when it comes to the future of linkedin? a listen to what he had to say. >> i worry about under delivering on the opportunity. we have this ability to have people's professional identities as a platform to change the way that they work. are we doing well enough against the very long-term opportunity? all whole bunch of things need to be done over years in order to get there. so, are we being bold enough? wehe went on to say -- are taking bold enough steps, making big enough decisions, taking risks? how do you on a daily basis try to do that to make sure that linkedin is capitalizing on the opportunity that you believe is out there? >> i think that what reid says really resonates with me and the executive team and we are continuously not just taking bold bets and exploring new avenues to fulfill the promise of what linkedin means to our over 300 members, but we are also looking at new ways of innovating and inventing how that connected world works. if you think about it as professionals we get very busy and we are too focused

it's my personal experience but the fact that linkedin and twitter, linkedin has made it easy for meoth at the same time. i've noticed by doing that i get a lot more reaction on both tms, by doing it through both at the same time. that has been good for both of those companies. >> all questions are good. thank you so much for today's survey monkey shakedown. we will be right back with more "bloomberg west." ♪ the spacex president made a bold prediction, saying they could be sending people to mars in 10 years. we spoke to the chief -- i asked howr far away we were from humans landing on the red planet. >> landing on mars is a real trick. we are much looser to getting people in mars orbit or flying by mars will stop -- flying by mars. that would be a great long-term goal. it's going to take some technology development. landed a one ton rover on mars which is an amazing accomplishment. one thing we learned from that is landing a five ton lander with crew on board is going to be really tricky and we will need several of those. it is difficult, but it's no more difficult than apollo was w

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linkedin what is the progress on linkedin. >> well,. >> people don't know how to make the best use of it. >> yes, so i will start with an anecdote, yes, most people, do you understand what it is to live and work in a network world and sure i have a cellphone, you know, i un, i am in a network. well, actually a network world there are millions of people who are searching, right, and what are you doing to be found? like you have to have a strategy of how am i found? people say well i get overloaded i want new connections well you want newsing natural, not new noise, so filtering between signal and noise but being found is critical like for example what i do as an investor my ling inprimary file is people want to work at linkedin and people who want investment, that is what that profile profile is designed for, because being found i mean that is a b and b investment they came and found me. >> rose: they knew you would be receptive. >> yes. >> rose: and knew --. they knew i would be good investor for them, right, that is the kind of thing that you actually that is true for everyone, not j

an ad for want to be linkedin, but they have linkedin and others. >> we're there.seeing people use it all the time. they are writing their own thoughts about what is going on in the market. they are doing be to be outreach. -- b to b outrage. >> the first week i ever got was from vietnam. >> you are a big hit in emerging markets. were going to bring in mark mobius. we should this emerging-market faces theeat that region. how different are conditions this year? >> the situation is completely different. first of all, china is launching a 10 point reform program, which is going to be revolutionary, in my view. they are going to allow private enterprise to go into areas where the government enterprises had monopoly positions. to encourageg private enterprise to establish financial and traditions -- institutions. is pumping more money into the economy. if you look at india, you see the reforms that are going to take place there. indonesia, another case of reform with a new president to his reform minded. -- who is reform minded. there is no shortage of money, is my feel

linkedin is trending right now. and also trending right now, million-dollar listing, bravo's reality tv series coming to san francisco. plenty to pick from there. "captain america" the marvel superhero, sam the falcon wilson will be the patriotic avenger. cell phone link. pedestrians in washington, d.c. now have to choose to walk in the no cell phone lane. [ laughter ] >> no kidding? >> or the lane that satisfies cell phones, walk at your own risk. >> check it out. check us out at twitter at #cbssf. >> a sign of the times. >> goodness. >>> have a great afternoon, everyone. >> and have a great weekend. take care, everybody. captions by: caption colorado comments@captioncolorado.com [ female announcer ] the internet gets more exciting the faster it goes. that's why, coming soon, xfinity will double the internet speed on two of our most popular plans. xfinity continues to innovate, bringing you the fastest, most reliable internet, period. [ heart beating ] xfinity internet from comcast. double the speed. [ heart beats

i'm long on the name. >> linkedin in soaring.ulia boorstin is up. >> success user footballs, getting the existing users more engaged, talking about growing their customer numbers and getting each of those customers to pay more. possibly continues to be a growing force ford linkedin, responsible for 45% of total traffic and weiner says mobile engagement is growing three times as fast as over allunique sister, international with 4% revenue coming out of the u.s., weiner announced china is off to a strong start since launching in february. china is now the fastest growing market. as for guidance, weiner talked about where that growth are come from, saying the growing portfolio of linkedin apps are working. today they announced a new sales navigator b to b service. he says the advertising service should get a boost. melissa. >> julia boorstin, thank you for that. bob peck e-mailed us and said that was a huge reason why the stock was up a. nice call buy, by cyr adami. >> i queed myself up. it could have been a fricasee you would have

built linkedin up, paypal, managing the outward relationships. what is it that you see now?ots of people are talking about wearable technology, talking about health, home automation. is that where we should be focused three to five years from now, or is it something completely different? >> so i think the internet of things is clearly a major transformation that's going to happen over the next three to ten years. and actually i think that almost, you know, every interesting electronic device in your house is interesting to be an internet-connected device. i think that's one that you mentioned. another one that i've been paying a lot of attention to in the last 6 to 12 months has been bitcoin. i think it's an incredible system that's created a ledger that is across -- a distributed ledger across the whole world for it can be money but it can also be other things. i think there's a lot of different things happening. >> are you invested in bitcoin specifically? >> i bought a few bitcoins myself p and i just recently announced an investment in a company called zappo that is -- w

ashley webster on linkedin. >> yeah, liz some good numbers here. earnings per share eps coming in at 51 cents. the estimate was 39 cents, a big beat there. revenue coming in at 543 million -- the revenue estimate was 510, basically 5million. that up 47% on the revenue side year-over-year. says its premium subscriptions also up year-over-year by 44%. so certainly a big beat. some of these numbers are looking pretty good so far. so you can see the stock reacting to that in after-hours trading. liz: the stock is up some 7%. full year 2014 guidance of a buck 64. revenue of 2.13 billion. we're seeing gains hold although the ask at 180. bid right now, for linked in, 192. let me bring in jonathan brodsky. jonathan, knowing all you do what you do about today and fact we lost all the gains for the dow jones, does a day like today change the way you investing and buying stocks. >> it certainly does not. there were number of events that caused props in the market starting with europe with the news about banco es spirit tee. -- es spirit toe. liz: that is the

and linkedin as well.et all of those for you after the bell heading over to the earnings desk as we speak. >> thank you, bertha. >>> heading toward the close and it looks like we're heading lower. we'll get to the closing countdown if a moment. >>> then after the bell, the pros tell us what tomorrow's closely watched jobs report may bring. should you prepare for another sell-off or could that number bring the market back? we'll find out. you're watching cnbc, first in business worldwide. quires challr business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present. [ jackhammer pounding, horns honking ] [ siren wailing ] visit tripadvisor miami. [ bird chirping ] with millions of reviews, tripadvisor makes any destination better. and cialis for daily us

linkedin's numbers really strong. .eeing terrific growth 47% year-over-year revenue growth for linkedin. not saying by the stock. it is an interesting company that is buying it a really rapid clip even though it is over 10 years old. >> cory johnson, our editor-at-large in new york. thanks so much for the earnings roundup. has challengee the big guys with his aggressive price cuts. now another suitor has lined up to buy the so-called carrier. we hear from the t-mobile ceo next. ♪ >> i'm emily chang. this is "bloomberg west." be aile is proving to popular acquisition target. french mobilephone carrier iliad has offered $15 billion in cash for a controlling stake in the uncarrier. sprint has been preparing its own bid. according to a person familiar with the matter, deutsche telekom thinks that sprint's deal could be better. t-mobile confirmed to "bloomberg west" that it received the proposal, but said it has no further comment at this time. earlier today i spoke to ceo john legere minutes before iliad's bid was reported about all the options on the table, and their recent subscriber grow

in the case of linkedin, over, airbnb, they are profits on paper. linkedin is real.aised more money. we've been talking a lot about valuations and money rushing into the market drives up the valuation. you're trying to raise money saying it's not running in yet. what is the fundraising like now? mood in thehe market today where you literally funds outicro v.c. there -- when i started, there was one. it's in a different landscape. people look at the brand you have built. we've done 150 companies and this is like passing on linkedin, uber. we have made a lot of progress with the portfolio and we have a lot of winners and what we will have invested. to look at the brand we've built and they say, yes, we want to be in the tech or a door. it's never easy to get money from people but it has been easier. >> do you think it will not end well, all of the capital taking deals right now, all the prices going up? >> you have a lot of capital chasing deals. ofhink there is a lot discipline in the series a and series b's. at the end of this, you look at the market and there is a f

senator they had known each other for a long time linkedin considered douglas a success compared hisfailure douglas had one serious after another of positions linkedin served in the legislature in did one german jogger is -- in congress but in that time senators are chosen by legislators but the thought was if they campaigned throughout the state they could vote based on party and they have a famous series of debates where they talk about the great issues of the day popular sovereignty and they discover what the allies have long known he is a brilliant crafty exponent of the issues he believes in city becomes a national celebrity now actually wins the most votes in the senate election but it is not according to one man one vote and there were enough of them holdovers elected so he wins the majority of the votes but douglas is reappointed to the senate and lincoln is convinced his political career is over but douglas returns to the senate the people decided they had been hijacked that float -- proslavery government had submitted a constitution to congress for approval. this is trying

it is almost like linkedin for grownups. i got to have a facebook page. really live is over here where i have control over my privacy and my friends and my interactions, and i feel there are safeguards. that is why they are going to because theytsapp, have more control. it's a great trend. originalo have the values of the internet where it is open and we can set the rules on our own. but we also need some communication. >> there's an aspect of that, e-mail is an integral part of the net and away way the communication happens between individuals. >> there isn't a platform of e-mail that is owned by one company. i think that's a good thing. >> originally -- i recently interviewed reid hoffman, the cofounder of linkedin. is he worried about platforms like google, apple becoming too powerful -- he is, in the sense that he wonders if there will be room for innovation. are these companies going to allow this to happen? >> a very good use faces happening right now. if you think of the two ways the internet has rolled out. phase one was the web, html. phase two i

linkedin is, i don't know, 90 times? facebook even is 40 or 50 times forward earnings, but the markets have expanded. somebody thinks there are more value, and i think it's right for somebody to stop and say, are we sure that these numbers are right at this point? i think it's perfectly healthy. >> but bob, you get my point, though. gold is down, bond market not moving hardly at all. in fact, the only thing i can really see that's up thankfully is coffee. for which i have a bet with herb, and i'm going to destroy him. >> there's a lot of money going into inverse etfs, so the volumes are notingly heavy. going into those kinds of groups, and people can always put money in cash at this point. i don't think that's the major concern that's out there. what i'm concerned about is a number of these big names, particular in social media, i think are clearly overvalued, people have twice now -- this is the second time, we're seeing it now for the last two days, saying are these stocks really worth what we are trying to make them c

meantime, linkedin giving a revenue forecast that topped estimates.e betweenjected to .543 million and $547 million shares rising after the trade. go pro reported a wider quarterly loss than analysts expected. those are some of the top headlines at this hour. back to you. >> thank you. thanks a lot. here to talk about today's selloff, equity strategist tony dwyer. what happened? >> i don't know if i know anything. basically, there's a lot of excuses for the selloff. it has been a very tired market to begin with. a very frustrating few months because the internals of the market have been correcting. portfolio managers or individual investors can look at stocks and ask how the market could be at a new high in their portfolios are not. what is happened is in a correction, that's how it works. in a bull market like we are in, you go up a significant amount, and the market starts to deteriorate, and it ends up in equity indices, and that is kind of what happened today. you could blame argentina, russia, the guy at the strip, the gdp number -- the gaza stri

and linkedin among the other losers.ou wonder if the volatility in the names will keep traders to the sideline on position themselves into large cap tech, by the way, ibm, hp and cisco all in the green. carl? >> sima modie, thank you very much. >>> john, yesterday was tough. >> yep. >> worse day in a while. we talked to gene this morning. is this typical pre-earnings jitters or not? he believes we're moving into a period where user growth is not enough anymore. monetization, we always talk about it, this is the show-me quarter. people will not forgive those who miss. >> i think they're worried if it rolls over. look at a chart and see it go from 2000, at that 5000 level back now to where it's almost, 500 points shy of that, during which period the price to earnings multiples have gone from 39 to 22. the companies are making real been. it's been a substantial correction and fixing of what didn't work in 2000, now real companies chaerching the dreams of 2000. with that said, i agree with munster. are some of these companie

you go to my district, there is apple and google offices and linkedin.you have schools in the same area. they don't have basic computers. they don't have access to high-speed internet. an area that is technology rich, you have technology-poor schools. these tech companies, it is in their own interest to help the schools, to make sure they are partners in public transportation so that 237 or 101 are not congested with expansion. it has to be an effort to get the tech companies and local communities working together. >> where will the money come from? you are talking about more education, more later in life education. something has to get cut somewhere. unless you want to raise taxes. >> one is an actual curriculum change. some of this will not cost more money, to say we need to be teaching coding in the classroom or preparing folks to operate machines. there is a cost to some of these things. i would look at our overseas bases, cutting some of them. we are still fighting the cold war in a 21st century economy. i would look at streamlining government. i wo

yelp, twitter, linkedin, that's the story for many of those stocks today. is this a drop worth buying? what we want to know? debate it. logon to cnbc.com/vote. pete takes bull case. joe the bear. buck 30 on the clock. make your case, as people vote now. >> making the case for two of the names. some i can't look it. too toxic. if i look at twitter, looked at linked in in, those are names that as you look at this sell-off, when you look at linksedin, $100 off its highs. which obviously those highs were a little inflated. i concede that. i look at the growth over in china now, that excites me. looking, how do you grow into some of the pes? outrageous. how do you do that? look where they get the growth. i see china as a growth area. done a great job withic kwaizations, brite, most recent. paid $150 million. built themselves off of acquisitions. i look at twitter. everybody hated twitter at 30, suddenly loved it at 40. pulled back $3, everybody seems to warrant to run away again. the market, the pressure on the market, if you look at mobile growth, look at the p

i is almost like linkedin, have to have the facebook page, but where i really live is over here wherentrol over my privacy, friends, interactions. i feel there are safeguards. that is why they are going to snapchat. that is where they have more control. it is a great trend. when i think about the kind of it and we want, we want the original values where it is open and we set the rules on our own. >> there is an aspect to that -- e-mail is an integral part, still, of the e-mail and the way communication happens. >> what is interesting is there is not a platform of e-mail that is owned by one company. i think that is a good thing. >> here is my question. i recently interviewed reid hoffman, the cofounder of linkedin, is he worried about amazon,s like apple, facebook, becoming too powerful, and he is in the sense that he wonders if there will be room for innovation. will these companies allow this to happen? >> a good use case is happening right now. think about the two ways the internet has rolled out. phase one was the web, html. phase two is the phone, mobile. the website, and the app

link linkedin. profitable in the past. immensely so.ast quarter, a big loss after a boost to expand and now the stock is down 18% so far year to date. investors hanging in there thinking linkedin can be successful like facebook. an interesting story with linkedin. how about tesla? another one here. is the future of the auto industry actually electric cars? if so, is tesla the best company to benefit from the theme? tesla consistently generates quarterly accounting losses, but the promise here is the expansion of the model lineup and spending leads to profits down the line, perhaps those shares up 50% this year despintd the lack of profitability, though current valuations more than half of analysts have a hold rating on this particular stock. internet radio. talk about pandora, in the news today. the question, will profits come amitts a highly competitive space for online music especially if the big guys like apple and google really start getting into the mix with online radio and online music. losses for this company have come in six ho

we were standing 20 feet away when he was at linkedin two years.t is a regular thing in terms of fundraising and the world of book tours. it is one of the benefits going to places like twitter and google and facebook. we are going to have a speaker series. for the politicians, it is going to give them the ability to get closer to people and wallets and their ideas. >> sarah, what other companies are cozying up to washington and vice versa? >> we have seen google. we have seen linkedin. even venture capitalists have had a seat at the table. obama visited a venture capitalist's home for a meeting as well with other ceos this weekend. we have seen a lot of -- even internationally, we have seen a lot of politicians come and make a stop at twitter headquarters, at facebook headquarters. it has become a pitstop, it has become something you do when you come to silicon valley or america. you try to build up relationships. >> we're looking at this iconic photo of president obama with steve jobs and mark zuckerberg and eric schmidt. >> that was a hot ticket.

and linkedin are slightly better. i spoke with juliet. she focuses on recruiting.ech sector clearly needs more women. i started by asking her why she thinks silicon valley is still boys club. >> if you go back to a study that was done in 2008, what we realized is women leave after 35. i think there are a couple of different trends to play. you've got to start working. you have to have the economic independence to afford to deal with the issue of child care. i think women will always struggle with the need to try to do it all. are you working in an environment or at a company that is going to support you as you try to grow your career? many of these topics are gender-neutral. they apply to men as well as women. >> the numbers from facebook and google, are they not get enough? >> we will continue to have this debate and raise awareness. this is what strikes me. we have an incredible mentoring program. there still aren't enough women. that is the ratio that we have to solve. that and keeping women in the workforce. >> you are involved in creating and recruiting. is th

in the case of linkedin, uber, and airbnb -- the thing is, airbnb and uber are on paper.inkedin is real. >> you just raised more money to have been talking about valuations and how money rushing into the market is driving up valuations. you are trying to raise money, but it is not rushing in yet but you actually raised a lot of money or commitments to money. what was the fundraising process like? how are the rest of the world investors seeing early-stage investing? >> despite the lows that exist today in the market where you have literally 135 funds that are out there investing -- when i started, there was one. it is a different landscape. people look at the brand is built. the portfolio is with 150 companies spirit we have actually made quite a bit of progress, and we have a lot of winners in what we have invested, which will make a lot of money for investors. so we look at the brand was billed, and we say, yes, we want to be in that court. >> it does not end well, he said to do you think this will end well, the capital chasing deals right now and the prices going up? >>

looked at linkedin, yelp is up 6.5%, groupon pulled into the red but linkedin of 3%.din the next sector is big tech. how about netflix, they are in talks to big seinfeld to the customers, is that a big deal? >> you could only -- you can't -- >> you can watch it on channel 11 in new york. you can stream it buds that involves big money. hbo sold a bunch of old shows that had been off the air for many years, to amazon for $350 million, that is the phrase being discussed. netflix spends $3 billion a year on original content. a very big price tag, very big chunk out of its budget but it needs to have these shows people preferred to binge watch to keep people coming in. that is the bottom line but it highlights the rising cost of content and competition for the content and dangerous thing about netflix is people don't appreciate how quickly costs are rising. stuart: seinfeld doesn't come in she. next tech stock, amazon. they are talking about lowering their book prices to create more demand. they say that would bring in more money. >> it might. possibly if we price everythi

a reminder to check out my linkedin page.p, the blackberry addresses speculation he is entertaining offers to sell the company. we will discuss how the japanese automaker is adjusting his plan for a car. we will be back. ♪ call joe torre during ceremonies -- q1 clutch oh world series while managing the yankees from 1990 to 2007. earlier this month, i asked him to be considered one of the greats. >> eiji jim about a once in a while, but you do it you do and comes,e when the time someone recognizes what they the hall of fame. it is hard for me to conceive of trying to put into words based on the fact when i start talking about the hall of fame, i think about all the players i played against and played with at our were ahat i always felt level above everybody else. it is humbling. trust me. for 28 minutes at the hall of fame ceremony. one. -- the one person he failed to thank was the man who had -- who hired the yankees. he feels terrible about that, saying he missed thanking the most -- the obvious guy in the world. the new yor

reid hoffman is the executive chairman of linkedin and an investor in some of the most successful companiestime, including facebook. he wasn't always on track to be an entrepreneur. a student of philosophy, hoffman at one point pursued a career in academia. but he took his first job out of school at apple, and then joined the paypal mafia. now a partner at greylock, hoffman sits on seven boards. he is the author a new book, "the alliance."

reid hoffman is the executive chairman of linkedin and an investor in some of the most successful companiestime, including facebook. he wasn't always on track to be an entrepreneur. a student of philosophy, hoffman at one point pursued a career in academia. but he took his first job out of school at apple, and then joined the paypal mafia.

what's the job you want after linkedin.commitment to transforming their career and i think that's very human. you might spend an entire -- an entire career at one company doing multiple tours of duty. it's not to say it's one project and you're out. it's let's do a project together, we talk about it honestly and talk about what's next honestly as well. >> and often that conversation can help you retain that person because you know exactly what they're there for, which i do think that has changed because you are -- this is fascinating. i wish we had more time. i'm getting on linkedin, it's official. this is it. i'm making a commitment. because i get so many requests and i haven't responded so will you help me because i'm lazy. >> be glad to. >> the book is "the alliance." get more of reid's job-hunting tips at afternoonmo afternoonmoafternoonmojo afternoonmojo .msnbc.com. >>> if corporation are people, many of them are enjoying night spring break vacations overseas. we'll explain what that means for those of us forced to sta

reid hoffman is the executive chairman of linkedin and an investor in some of the most successful companiestime, including facebook. he wasn't always on track to be an entrepreneur. a student of philosophy, hoffman at one point pursued a career in academia. but he took his first job out of school at apple, and then joined the paypal mafia. now a partner at greylock, hoffman sits on seven boards. he is the author a new book, "the alliance."

linkedin is the new way to find your soulmate. a match. it has millions more users and answers a few key questions like does your mate have a job, and did they go to college? there's even a new app called link linkedup that uses linkedin profiles to connect people. >>> the real reason you always are tired on mondays, it's called social jet lag. so before you head out this weekend, here's how you can avoid that slump. first, if you're going to be out late, you need to take a short 20-minute nap beforehand, then the day after you go out. next, avoid sleeping in on both saturday and sunday. experts say this will throw your regular sleep schedule way out of whack. and then third, get moving. exercise will get your energy flowing after a night out. get a lot of sunlight. it keeps the levels down of the hormone that makes you sleepy. and finally, only choose one night to drink, they say. having too much alcohol can make your sleep quality worse. >>> well, the time now is 45 minutes after the top of the hour. he was just 500 feet from th

. >>> linkedin jumping into the tech buying frenzy. the company spending $175 million to buy bizo, a company that provides advertising technology and other services for professionals. it's a san francisco company. linkedin will pay 90% cash, the rest in stock, expected to close by the end of the year. >>> facebook will report its second quarter profits after the bell. over the past 12 months the stock has jumped nearly 170%. analysts have big hopes for facebook expecting to hear about a big increase in revenue. seema mody, good morning. >> good morning, scott. stocks rising on tuesday, lifting s&p 500 index to a new record. now the s&p 500 is just 17 points away from breaking 2000 mark. a lot of eyes on the benchmark index. investors have a lot to go through, earnings reports, showing tame inflation, and progress in the housing market. in focus, boeing, pepsi, at&t, facebook. the dow rising 61, nasdaq adding 30 points yesterday. apple expected to introduce two new iphones and a smartwatch this fall. secured a patent for a wearable devi

>> yeah, you know, i think linkedin got a prettifies boost today. i think that could be merited. we'll find out tomorrow when they report their earnings, but, you know, they're doing tear top -- growing their top line very well. we think the first half gator product could be a boost to earnings in the back half of this year. >> thank you, feel doshi. we have breaking news from argumenty fa. kate kelly is in the fast lane with all the details. >> reporter: s&ps a declared argentina is if a state of selective default. they're doing this a number of hours earlier in the market was an tase pateing based on the fact it's now after 6:00 a.m. in tokyo and certain bond holders to presumably reside in the asian markets are now in a state of default because argumenty fa was not able to pay in terms of a deadline that came today. we are also expictureing to hear from the argument tinnian finance minister in about ten minutes from the consulate. members of his government have been throughout the day with these so-called holdout bond members from the large hedge fund to resolve the impact the

and by the way, she has her own linkedin page. already spend like, i don't know, half the day ignoring linkedin requests from my friends. now i have to ignore them for my daughter's toys, too. and by the way, entrepreneur, not a career. entrepreneur is the job your cousin who sells weed claims to have at thanksgiving dinner. [ applause ] it's the sort of thing thief been thinking about lately, these toys, because as fred mentioned my wife is having a baby this summer. we don't know if we're having a boy or girl. we assume it's one or the other. but you never know. i have two older kids. my kids are in their 40s now. one of them is older than i am. so it's been a long time since i've taken care of a baby. you forget almost everything. at least i forgot almost everything. so to brush up and to get some advice on how to raise a child, i went right to the source. i asked a child to help me figure some things out, a 6-year-old girl named isla. we had a very enlightening conversation. ♪ isla, how old are you? >> 6. >> jimmy: so you've b

>> i think the pressure is on linkedin.up a big nau, and they really have to start talking more and more about average revenue per user which is not something they've talked a lot about in the past. >> let's do final trades, yours is going to be whole foods today which we spoke about yesterday. you bought more this morning. >> yeah, stocks had a nice rally on a good quarter. >> hk. >> okay. >> kkl. >> sell tarkt. >> have a great day. power begins now. >>> scott, thank you very much. developing story today, the market has been developing all day long. stocks falling very sharply, we are on the floor of the new york stock exchange, from the nasdaq, and always at post 9. sue. >> it is an ugly day. let's look at the numbers. get you up to date right now. the dow is down 208 points on the tradings session. that's a one and a quarter percent loss. s&p, 1.5%. down 28 points. nasdaq is close to the biggest percentage loser. not quite. it's done 75 points, but

richard branson just wrote an article on linkedin about that. does anyone talk about hacking the business model. in terms of the money we spent without real business models going-forward? >> i don't think that not focusing on revenue is not having a business model. i think the idea that distribution and scale have tremendous business value and are the harder part of the problem, once you have distribution and scale, it's easier to get meetings and generate cash. the business model which is roughly translated by some people into the wrong thing, which is cashflow, it's a shortsighted focus, so to me, i don't think it's that these companies like twitter and others aren't focusing on the business model. it is a business model to focus on. i think at the media lab we tend not to focus -- we focus on impact. we want to hit the real worlds a lot of our stuff is answers looking for questions, because sometimes you'll discover stuff that wouldn't normally be allowed to be searched for if your focus was on something with utility from the beginning we're