simon, for now, thanks. >>> when we come back, mark mahaney's take on facebook earnings and a preview tonight, and later today, don't miss our exclusive interview with president obama. at 5:00 p.m. eastern with steve liesman, only here on cnbc. ♪ ♪ ♪ [ male announcer ] if you can't stand the heat, get off the test track. get the mercedes-benz you've been burning for at the summer event, going on now at your authorized mercedes-benz dealer. but hurry, offers end july 31st. share your summer moments in your mercedes-benz with us. >>> welcome back to "squawk alley." i'm kayla tausche with jft jfon fortt. out with a big earnings beat saying it is 1.3 billion monthly users and mobile devices accounted for nearly two-thirds of its revenue. mark mahaney, lead internet analyst and joins us this morning. >> good morning. >> you raised your price target to $92 a share. do you think 67% increase in ad reserve knew year over year, the company can sustain? >> yes. not that far off than we saw with google in 2004, 05 and 06. a marketing platform. they will. this company is rolling out more ad forma

mark mahaney upped this price target.levchin, the dow is down 120 points from session highs. >>> back in a minute. 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 place, so finding more insight is easier. it's your idea powered by active trader pro. another way fidelity gives you a more powerful investing experience. call our specialists today to get up and running. >>> a special guest this morning who founded paypal in the late '90s. a firm ceo matt levchin with our own josh lipton in san francisco. josh? >> carl, here with matt levchin, paypal co-founder, yelp chairman, yahoo! board member and serial entrepreneur near silicon valley. talk about your company, online lending start-up, matt, in the business of making loans to consumers, right? and already raids $50 million, but i know you're ambitious and want to take on visa, wells fargo, the banks and lenders, so you've got to raise a lot more capita

i'm joined by the the mayor of cape may here, mayor mahaney and what do you say about the fire workshat is the go or no go situation with this storm. >> city fully intend to have fire works tomorrow evening at 9:00 o'clock, unless the wind prevails as it is now in which case we will have move the fire works to sunday night at 9:00 and we will make that decision mid afternoon tomorrow. >> we have our captain of the beach patrol in cape may our good friend buzz smoke, what is the situation as far as everybody being allowed back in the water tomorrow if the clouds break in the afternoon. >> if we check everything out, everything looks good we will allow people back on the beach tomorrow and they can go in swimming. >> depending honorary distributions. >> depending on what everything looks like, and what kind of weather report we will get. and a, cbs-3, pull them in, and only waist deep same case tomorrow, perhaps. >> it could be but wind will come out of the different direction so we will watch that. this is awe southerly wind and it helps the people stay in close. so tomorrow we will s

plus mark mahaney takes on what he's expecting talks about what he's expecting when tech companies startarnings preview is being released this morning and we have him next. and from bill yards to boats brunswick has you covered for fun in the sun. the company's ceo joins us to talk business. we'll see you back here in a bit. (trader vo) i search. i research. i dig. and dig some more. because, for me, the challenge of the search... is almost as exciting as the thrill of the find. (announcer) at scottrade, we share your passion for trading. that's why we rebuilt scottrade elite from the ground up - including a proprietary momentum indicator that makes researching sectors and industries even easier. because at scottrade, our passion is to power yours. ♪he cadillac summer collection is here. ♪ during the cadillac summer's best event, lease this all new 2014 cts for around $459 a month or purchase with 0% apr and make this the summer of style. but parallel parking isn't one you do a lof them.ings great. you're either too far from the curb. or too close to other cars... it's just a matter of t

. >> mark mahaney looks like a genius. >> what his price target? >> $530. >> at $470 now.eing up, richard haas as continue the conversation on all the geopolitical headlines, whether in the ukraine or gaza. this is bloomberg "surveillance" on bloomberg television, streaming on your tablet, and bloomberg.com. we will be right back. ♪ good morning, bloomberg "surveillance." good morning from new york city. with me, scarlet fu, adam johnson. our morning must read. morning must listen. >> courtesy of our colleagues in london. manus cranny said down with the ceo of credit suisse. listen to what ready to and -- listen to what brady dougan had to say. >> one of the most and fork is -- one of the most important focuses has been running a compliant businesses. we have a pretty good record. we have not had any issues on the libor side or fx side. we have learned a lot of lessons and we continue to try to work very hard to run a compliant business. that is an everyday challenge that you really have to go to work at and try to tackle every single day. i think we have actually had a pr