marissa mayer joined yahoo and is trying to reinvograte the website. she hopes that tumblr will help do that. 50 percent of users are younger than 25 and she needs them. this is the boldest move to date. yahoo c.e.o. marissa mayer calls the blogging site a "game changer." >> today is an exciting day for yahoo, tumblr and the users. yahoo c.e.o. marissa mayer spoke town vestors by conference call announcing the $1.1 billion cash purchase of tumblr. she started with a vow that has become the headline of the acquisition. >> we are making sincere promise to not screw it up. >> she tweeted a link to her own tumblr page with this gift "yahoo, tumblr panic and freak out, keep calm, carry on." the first time an animation has been created with an animate gift, but many are not buying it, worried this acquisition will mean user policy changes or ads flooding the blogging platform. the founder and c.e.o. of tumblr wrote to his employees and followers that yahoo will only help tumblr get better faster. they will continue to be independently operated as a separate

marissa mayer is baking the biggest acquisition buying blogging forum tumblr. reporter is in the newsroom with more on the announcement that marissa mayer made this morning. >> to make the announcement that yahoo is buying tumblr she tweeted a link on her own tumblr pay saying "i am delighted to announce we have reached an agreement to buy tumblr and we promise not to screw it occupy." the first time an acquisition has been announced by animated gift, from "keep calm and carry on "and now "panic and freak out." they are paying $1.1 billion for the blogging forum tumblr. but the users, 105 million blogs, 300 million monthly visitors and 120,000 new sign ups each day, not all of them are happy. one user posted a petition telling users to reblog and sign "don't let yahoo buy tumblr." it will be independently operated as a separate business and the founder and c.e.o. a 26-year-old will stay on as c.e.o. and marissa mayer reiterated that vow on a conference scale with investors in morning. >> we are making sincere promise to not screw it up. we will keep the tumblr

it was marissa mayer, formerly googel and now at yahoo!.isten to what he said to me. >> not only is she a genius of the geniuses, she is something that i really value which is she is one of the most uniquely happy and productive people i have ever met, certainly in this industry. that's something that we have just strive for in our team is that sense of eternal optimism and purpose. she just brings that in a profound way. >> i will say this. i immediately sat down with him like let's talk about the acquisition and he corrected me. he had let's talk about the partnership because he doesn't want to be seen as just a part of yahoo!. tumblr very independent, the cool kids blog. they don't want to change now that they're at ya hoochlt he made that very clear. >> it is so clear. people think he made $250 million of his own money on this. here is a good born and raised in manhattan, his parents let him drop out of high school because, you know, high school wasn't really feeding his brain. they let him work on his own and make his own programs and

first yahoo's marissa mayer. she just spent over $1 billion to buy a blog site. but will the move pay for for shareholders? >> jp morgan's jamie dimon. shareholders vote on whether he could keep the job. >> and apple's tim cook arguing over the tax code and facing tough questions about his big pile of overseas cash. all that and more tonight on "nightly business report" for monday, may 20th. >>> good evening, everyone. our top story tonight is yahoo, the granddaddy of internet search, older, if not bigger than google, is paying more than $1 billion for tumblr, a website that brings thousands of blogs and hundreds of millions of young users together every month. and those younger eyeballs, along with the money they could bring but haven't yet may be what yahoo's ceo marissa mayer is really after. john ford has more now on yahoo's big bet on tumblr. >> reporter: david karp is 26, a high school dropout, and now he's mega-rich. that's because karp is founder of tumblr, the blogging site yahoo just bought for $1.1 billion in cash. >> this isn't a get rich quick scenar

that will be one of marissa mayer's biggest goals and risks. yahoo will announce this at 2:00 our time this afternoon. in the invitation, they said only "they will unveil something special." >> speaking of "special" the super bowl committee is on the way to boston this morning ared to make a final play to host super bowl 50. nfl team owners will decide tomorrow between miami and the 49ers stadium under construction in santa clara. many believe the bay area has the advantage after the florida state legislature failed to approve funding to update the dolphins' stadium. the losing city faces houston in a bid to host super bowl 51. occupy the farm receptions on berkeley in east bay and took over a tract in albany. 20 activists remain there this morning after returning on saturday to weed and plant vegetables. some tents are set up on the property. ca almost owns the land and has approval to develop it. occupy members claim it is public land that should be used for a community farm. police are monitoring the situation. >> a week ago on saturday occu

the announcement came from marissa mayer's own tumblr page.elighted to announce we've reached an agreement with tumblr. she is betting $1.1 billion that the venture will be a match made in digital heaven. created in 2007, the hugely popular tumblr allows users to share thoughts about everything from food to fashion to pop culture on their blogs. it boasts 108 million of them. more than 300 million monthly visitors spend a whopping 24 billion minutes on the site every month. it's the brainchild of david karp, the hipster high school dropout who founded the company from his childhood bedroom and will remain tumblr's ceo with mayer's full support. >> we are not going to screw this up. >> with that promise, let's welcome marissa mayer and david karp. great to have both of you here this morning. i do want to talk about the deal. but first one of the things we've seen with natural disasters like this tornado in oklahoma is the power of social media. so, what can you tell us about what yahoo! and tumblr are doing now? >> well, we do have people on th

marissa mayer promised their company won't, quote, screw this up, but users are skeptical.at down with tumblr ceo david carp. it's so interesting, he didn't even finish high school, and now he's negotiating with marissa mayer, what was her role in all of this in. >> look, marissa mayer has for some reason this charm in the tech industry. you see all of these young entrepreneurs going to yahoo now, and they weren't able to get a lot of the younger start-ups to get involved. it wasn't cool to be acquired by yahoo, and i will say this, david carp really defined cool. he's a new york-based entrepreneur, he used to drive a vespa around the streets, has a beautiful girlfriend. >> listen to what he said to me, christine. >> not only is she a genius of the she is something that i really value. she's one of the most uniquely happy and productive people i've ever met certainly in this industry. that's something that i -- we just strive for in the sense of eternal optimism and purpose. she brings that in a profound way sglp so interesting. i think people think you made $250,000 of his

since marissa mayer took over yahoo stock has soared. tonight as we continue our week-long series on comeback companies, john takes a look at yahoo!'s turn around and mayer's role in that revival. >> yahoo!, it's one of the defining companies of the inteet era, but a year ago it had nearly fallen apart. it chewed up four ceos in as many years, cert share was dropping, parking lots took too long to fill in the morning, a sign of flagging morale. then new ceo marissa mayer came on board. >> what a difference ten months makes. new ceo, new game plan and suddenly yahoo! is a place people want to come take a look at the home page that's been redesigned with the hope that users will spend more time there. >> people said give me a reason to come backto yahoo! a few times a day. now the content is always updating. >>> iphone apps like weather have gotten a face lift. that app got more downloads in five days than her team had expected for the entire quarter. a main goal for these changes, make yahoo! cool again. that will be a long slog. even use

marissa mayer. leaders behind the partnership are sitting down together on "good morning america" this morning. as we reported yesterday here on the abc7 news marissa mayer promised "not to screw this up." on "good morning america" she explained what she meant. >> i want to make sure they recognize that tumblr will be map vision it has had and we are setting up tumblr to do that. >> if you want to hear more they are on "good morning america" at 7:00 right here on abc7 news. >> vallejo firefighter is recovering from burns to his hands this morning but he may feel better knowing that a man's life was saved. a disoriented man in his 60's was trapped on a balcony as flames tore through the one-bedroom apartment. neighbors and firefighters sprang into action and put up a ladder and the firefighter climbed into the billowing smoke and flames. >> he was grabbing on to something and i got his hand free but i needed help with someone on the ladder to pass him off to. >> three neighbors steadied a leader so f

biggest acquisition since marissa mayer took over the company last summer.for today's market update. news of yahoo buying tumblr failed to boost the markets today. lower. here are the final numbers. the dow fell 19 points to close at 15,335. the nasdaq fell 2 points. and the s-and-p 500 fell one point. with our tech reporter. facebook, or at-gabeslate on twitter. you can also send him an e- mail, at slate-at-kron-4- >> we will be right backdot- com. look at 'em. living on cloud nine with that u-verse wireless receiver. you see in my day, when my mom was repainting the house, you couldn't just set up a tv in the basement. i mean, come on! nope. we could only watch tv in the rooms that had a tv outlet. yeah if we wanted to watch tv someplace else, we'd have to go to my aunt sally's. have you ever sat on a plastic covered couch? [ kids cheering ] you're missing a good game over here. those kids wouldn't have lasted one day in our shoes. [ male announcer ] add a wireless receiver. call to get u-verse tv for just $19 a month with qualifying bundles. rethink possi

thank you, guys. >>> a story of marissa mayer, the ceo of our partner at yahoo!now she's back in a major expansion of paid parental leave for new mothers and fathers. rebecca jarvis has the story. >> reporter: employees at yahoo! may have just hit the mother lode. the internet giant led by the sometimes controversial ceo marissa mayer has announced it will now give new mothers up to 16 weeks paid maternity leave and new dads, they can take 8 paid weeks. the parental perks don't end there. they're providing new parents with $500 in cash for things like child care and groceries. >> the whole world is going to drop everything they're doing and they're all going to go run and apply to work at yahoo!. it doesn't matter. you could be a train conductor. you're going to want to learn to program. >> reporter: but is mayer making up for some of her other policies including her edict just two months ago prohibiting employees from working from home. >> marissa mayer probably found that intentionally or not, her policies had created terrible morale. she has learned from it an

marissa mayer was there when they bought youtube.soft is a wonderful company and they have not been able to develop anything other than xbox, other than incredible word that they have. they have just been returning this money to shareholders. to me, that's a waste of money and shows that you're a very uncreative and there's nothing else you can do. i think that marissa mayer is an absolute rock star. charles: i tend to agree. she's invigorated the spirit of the company. this or maybe one or two more deals, they've been rumored for other deals is more or less swinging for the fences. what she's done, come into the batter's box and taken a reggie jackson-like swing. either a majestic home run or a strikeout. do you think she put the company in that position? >> i think she's miss october. and reggie was mr. october. i don't think that she's necessarily swinging for the fence, i think they're increasing visitors, and then find a way to monetize it and yahoo! is worldclass just like google where she came from. and the deal that it's rumo

s marissa mayer and dabbel carp will be on "squawk on the street" at 10:00 a.m. making it easier for federal agencies to use its cloud computing services. the company has been certified to operate as a cloud service provider for thee years. amazon has moved aggressively into the cloud business, now targeting larger corporations and government agencies which are more demanding in terms of security and regulatory issues. amazon stock down 0.4%. earlier, we asked do you think companies have a moral obligation to pay more taxes? jason tweeted, corporations are heartless. people or products, that's all. kay shade in short, no. a company has a few subscription services. >>> want of our viewers each suggested they're not paying more because they're not paying jobs. >>> come back here, direct to me, @ross westgate. >>> still to come on the program, we'll take a closer look at the apple tax story. plus, u.s. summer season officially begins this memorial day weekend. where will americans be spending their vacations? we'll tell you the top five destinations. >>> and with st

ceo, marissa mayer spicing up her bloond blond bubble. we've move that page up a bit. the orange streaks must have been on the other side. we've been asking you was that a hit or a miss, that particular hair style? john tweeted sxdz the ceo's fashion statement was a hit. she looked good with streaks in her hair. and it's a fearless attitude needed at yahoo!. i think they have to be happy to -- i don't think so. i think it was tongue and cheek. anyway, that's just about it for today's show. coming up next, of course, "squawk box" will have the countdown to the opening of market space. an interview with disney's ceo, as well. whatever happens, we hope you have a profitable day. bye. ♪ ♪ ♪ the new blackberry z10 with blackberry hub and flick typing. built to keep you moving. see it in action at blackberry.com/z10 >>> good morning. today's top stories, the global markets. the nikkei topping 14,000 overnight, the highest level since the lehman crisis. >>> australia cuts its key interest rate to a record low in somewhat of a surprise move. in the u.s., equity futures are poi

so marissa mayer clearly trying to revive perks, she wants to be competitive.wrongs. you mentioned the whole telecommuting ban. that was a scandal, a pr nightmare. and also, you know, she only took two weeks off when she had her baby. >> maybe she gave it a little bit of thought. not such a great idea. >> people said she's setting a bad example. also want to mention that she is making headlines in another way, by the way, this time around, it's her pay package. she made $6 million since she started at yahoo! that's basically a million dollars every single month. >> good for her. >> and her pay package is worth $71 million. includes stocks and things like that. >> what is the one thing we need to know about our money? we know how much she made. >> her money. this may be the beginning of a really weak period for stocks now. that's why traders say sell in may and go away. but, with recent record-setting runs does that still hold up? some analysts say that as long as the fed keeps pumping money into the economy, the old adage might not carry as much weight as usual

. >> marissa mayers --. >> neil: we'll fight at the outset of the show.do you think of the position? double up the time for men and women, moms and dads and they can take off. >> there is not a shortage of talented mothers in its working mothers it has a shortage of profits and earnings. i think she should get some earnings out of very fine company instead of getting points from the women's lobby. >> neil: adam? >> this is straightforward. she is trying to keep up with google, her former employer which offers very generous maternity and paternity benefits. silicon valley is a talent war. dagen, three weeks i spent with my newborn daughter were some of the best weeks of my roo life. i wish it were eight weeks. it would make me more loyal to the employer. >> if the company can dole out that time, google at four months if they can afford do it. do it. but i don't think most companies could get away with it. >> neil: i spent more time with my daughter but she forgot about it all. [ laughter ] >> listen, i agree with dagen. from an economic. >> neil: not in th

marissa mayer is the youngest ceo male or female in the fortune 500. that 82-year-old warren buffett is responding to these young women by speaking out for the first time in a big way about women in work. >> i was looking at facebook results this week and cheryl sandburg exercised $821 million in options. you don't usually see that many zeros on one of those s.e.c. filings. she's doing something right because she made a boat load of money this week and a lot of women watching her career and what she's doing. this interview was about social issues but she also convinced us to get on social media during the interview tweeting warren is in the house. you can see more of that interview on cnnmoney.com. thanks for joining us. >>> coming up, justin bieber giving his backing to a prepaid debit card. you have seen celebrities doing this. does it make financial sense to sign up if you're a fan? should you hold one of their cards? find out next. yeah, i'm looking to save, but i'm not sure which policy is right for me. you should try our coverage checker. it help

marissa mayer announced this $is .5 billion deal to -- $1.5 billion deal to buy tumblr.ost of the visitors are in their teens and 20s. the company will be operated independently. it won't be moving west. tumblr's headquarters will remain in new york. they are trying to breathe new life into this. a cnn analyst states there's a lot riding on this deal from mayer who came over from google a little less than a year ago. >> this is an acquisition to acquire user. that's a big bet, i mean, to spend over a billion dollars for a new ceo at a brand of yahoo!that's been around forever but struggling will rewrite her la legacy. >> reporter: this roof could change the fact that there's not many ads seen. they will work with tumblr to create ads that are tasteful and seamless. but the cnn analyst says this could backfire for yahoo!if ads are forced onto tumblr. mayer says she expects this increase to start to increase revenue for yahoo!starts next year. back to you. >> thank you. >>> a second person has died as a result of tornadoes that hit oklahoma, kansas and iowa yesterday. four

yahoo's ceo marissa mayer tweeted i'm delighted to announce we have reached an agreement to acquire tumblr. we promise not to screw it up." experts are calling this mayer's boldest move since she was hired last year but they are also calling it one of her biggest gamblings. >> tumblr has not had much advertising. if yahoo wants to make much money off tumblr it will probably have to get more advertising on the site. tumblr only made $13 million in revenue last year. >> reporter: in addition, this deal isn't popular with some on tumblr. there's been a blocking backlash amongst some users, several posting threats of leaving the website once a deal was finalized. >> you always fight what your parents think is cool but i think yahoo and tumblr users will benefit from each other. >> reporter: the deal is expected to grow yahoo users by 50% to a billion monthly visitors. and yahoo execs are hoping this breathes new air into the fading once web pioneer. live in sunnyvale, cate caugiran, kpix 5. >> yahoo's stock after the big announcements went up. not a lot but it is a positive. it's up 11 cents t

ceo's marissa mayer. but can yahoo! make this work without spoiling the free wheeling spirit that's made tumblr so popular. i spoke with mario armstrong, digital lifestyle expert for hln and katy, digital analyst for spike tv. how would you describe the connection of yahoo! and tumblr. >> i like to say it's the super hot supermodel paired with the old creepy guy, and you're like this just doesn't kind of work, what's going on here? the old creepy guys a a billion dollars. that's why there's a mismatch. that's how i like to think of it. >> the old creepy guy is headed by a woman yea. marissa mayer vowed not to screw it up. why did she say that? >> because she better not. yahoo! is in a state of emergency right now. everyone can act like oklahoma but really they're not. this could be seen as a desperate move but i think it's a smart move. >> explain yahoo! has a history of acquiring other companies and not doing well by them. why do you say yahoo! is desperate or in need of a hit of strength? >> this is a major search des

"the wall street journal" reports ceo marissa mayer wants to exit the ten-year contract, but microsoft isn't interested. they've done worse under the deal than when it was going it alone. >>> target is testing a new program that relies on shoppers using their facebook accounts. people will be able to select discounts they want online but can only redeem those offers in stores, not on the web. back to you. >> thank you, seema. >>> new this morning, toyota reporting its quarterly profit more than doubled as it looks to improve slumping sales in china and here at home. coca-cola is spending $2 billion to juice the florida citrus business to the tune of 25,000 new acres of orange groves, or about 5 million trees to supply its juice brands. in the process, florida will add about 4100 jobs. meanwhile, a new study finds u.s. taxpayers employ more low-wage workers than walmart and mcdonald's combined due to some 2 million private sector jobs that pay just $24,000 a year or about $12 an hour or less. that may be why mars one says in less than two weeks, a staggering 78,000 people have applied t

shares skyrocketing 70% since marissa mayer was named ceo last july. stock had essentially been flat for three years before her arrival. we have jon fortt at the comeback kid's headquarters in -- well, we will have jon eventually. >> look at the chart. you can see the stairstep move higher that this stock has had. it was essentially dead money as they had a number, a revolving door for the ceo job and directors and things. and the stock had just been lackluster for a number of years and now, suddenly, after she took over -- >> bumbling around the $15 mark. >> all they needed was some direction, i guess, of some kind. the question is, is yahoo! a buy as a comeback story? let's start talking numbers. we should note that yahoo!'s finance is cnbc's production partner for the online version of talking numbers. and on the technical side on this issue, rich ross is with us, and on the fundamental side, steve cortez. good to see you, guys. welcome back. rich, was us through the charts. what do you think? >> bill, i underestimated this stock once. i'm not going

it is new c-e-o marissa mayer's biggest purchase to date. critics are likely to contend that despite its popularity tumbler has yet to make any real money and that makes the deal a risky one. there is more merger mania happening.... two online food companies have a new relationship cooking. grub hub and rival seamless are merging. the companies help diners find takeout or delivery in a specific area. meanwhile, software security firm websense is being taken private. vista equity partners has agreed to pay about a billion dollars for the company. shareholders will receive $24 dollars and 75-cents a share. in the drug sector.... generic pharamceutical company actavis-- is buying warner chilcott. e all stock deal is valued at $8.5 billion dollars-- at $20 per share. warner chilcott stock clearly ralled into the news. actavis sells copy cat versions of cholosteral drug lipitor and a.d.d. drug adderall. together- the companies create the 3rd largest specialty drugmaker in the u.s. a new sleep drug has some alarming side effects. the insomnia drug

marissa mayer, who joined the company just ten months ago from google. today, she wrote on a tumblr post: "we promise not to screw it up." rebecca leeb is research analyst of digital advertising and media for the altimeter group and joins us now. welcome to you. why does yahoo want to buy tumblr? what's the appeal? >> there are several appealing things about tumblr. there's certainly the size of the audience, as you just mentioned. but also perhaps more than that, the demographics of tumblr's audience. yahoo has been losing users, losing eyeballs for years now. tumblr represents the millen yells, those 20-somethings who didn't abandon yahoo because they probably never aligned with the platform in the first place. this is a group that is incredibly important to the advertisers yahoo is is trying to attract. >> brown: explain for our non-tumblr users in the audience what it is. how has it been able to rise so fast and appeal to so many people? >> tumblr is a blogging platform that is very, very imageson trick. it's very focused on users uploading photograp

marissa mayer took over at yahoo! and became a new mother telling savannah guthrie -- >> reporter: overall i have been having a terrific time being both a ceo and a mother. >> reporter: it's not like women aren't debating work life balance. >> don't lean back. lean in. >> reporter: hedge funds run by women outperform those run by men. andrea mitchell, nbc news, washington. >>> we're back in a moment with the best list of the best sand under the sun as we head into the unofficial start of summer. >>> today president obama signed a bill awarding the congressional gold medal to the four little girls killed in the bombing of a birmingham, alabama, church in 1963. family members of addie mae collins, denise mcnair, carol robertson and cynthia wesley looked on as the four were given the highest civilian honor this country can bestow. their deaths at the hands of white supremacists helped propel the civil rights movement. >>> this morning in seaside heights, new jersey, seven months after hurricane sandy caused billions of d

marissa mayer recruited from google to shake things up and yahoo, our hope is that the amblr deal will send out signal. corexit is new and trendy. it is sophisticated and interesting. i think it's a little piece of all of those things. it puts yahoo back on the map. this kind of technology takeover has a mixed record. google's purchase of youtube appears to be paying off. but news corp. never managed to make a success of myspace and aol lost a fortune after paying bebose be boast -- social network. >> culturally and geographically it is a risk. i think those risks are worth taking. this is what the company has to do if they want to resurrect themselves. >> some users are already complaining and yahoo will have to be careful. the new owners are confident that they will keep the audience happy. "bbc news watching world america." we catch up with the astronaut to get his reaction. the nigerian military says it is deploying 1000 more troops to the northeast of the country where it is trying to defeat islamic militants and establish control of the region. thousands of soldiers are already t

it seems like marissa mayer came into this job as inquisitive as hell.he wants to grow and expand through deal flow. >> yeah, she wants to grow through deals. but you've got to grow in the mainstream way. that's the problem. i think what's going to happen here, i think facebook, instagram is going to pick up users. you're already seeing what the users are saying here. this is about big money social media. the companies that talk about -- more about liking the social media than turning it into monetization are going to be in trouble. i think this was a bad play here by marissa mayer. >> what about that? the precedent's set, though, allison on flicker. did they drop the ball on that one? >> this is great news for flicker. tumblr is all about sharing things, particularly photos. the things they can do with flicker at this point are great. i think marissa was very smart. by the way, this is what she was hired to do. she was hired to bring back yahoo!'s brand which has been really dwindling over the past few years. she could be sitting on her hands and hoardi

loeb led the charge to bring marissa mayer to yahoo. in the latest makeover move at yahoo, the chief financial officer says the company wants to be "cool again." citing the aging demographic of its customers for its loss of cool status, the company plans to target younger users in the 18- to 34-year-old bracket. yahoo is in a multi-year campaign to turn itself around. mcdonald's tweaks its iconic dollar menu. faced with rising costs, it has become more difficult for the chain's franchisees to make enough money on the value items. the burger giant will begin charging for add-ons such as bacon and introduce a price increase on the mcdouble sandwich. there will also be new sandwiches introduced. the chain's chief marketing officer says the new sandwiches will be more attractive to customers and more profitable for its restaurants. it's a record number that won't surprise most travelers - last year, the airlines collected $6 billion in baggage fees and other add-on expenses. the a.p. has crunched the numbers put out by the bureau of transpo

. >> ya hoo ceo marissa mayer to accommodate package of nearly $6 million for first six months on theb. according to the regulatory documents, she got a salary of nearly half a million dollars, a $1.1 million cash bonus and $4.3 million worth of stock. her compensation packages were the least 71 million through 2017. and it could top 120 million in extra batch of stock grants that she is eligible for comes through. >> do not forget the bay to breakers is coming up on may 19th. our coverage of the rate from start to finish will began at 8:00 a.m. that sunday morning. what cameras and cruise along the race route. you do not want to miss that. bay to breakers may 19th 8:00 a.m. right here on kron and have more news in a minute. >> we are back. is 44. 5 following the weather. we have a lot of talk about. we have red flag warning, wind, and fire spreading out. but it first the forecast. >> good morning erica. >> good morning james it is windy out there. a live look from our mount tam camera is shaking around no doubt. gusty conditions. piqued when guston the past the hour. mount diablo 74

i think it is a pretty safe bet by marissa mayer.to buy youtube. they have that kind of success. connell: youtube has been around for eight years. it seems like it has been around for 100 years. we will see how tumbler goes. thank you, keith. dagen: i think he'd just made it uncool by signing up for it this morning. [ laughter ] 26-year-old david karp started tumblr six years ago. he started it and his mother's new york city apartment. he is now worth somewhere north of $200 billion with this deal. he dropped out of high school here in new york city. the big bat for marissa mayer. she does not even know it. posting on her tumbler account, i am delighted to announce that we've reached an agreement to acquire tumblr. we promise not to screw up. tumblr is incredibly special and has a great name going. connell: you look at like, facebook, for example. i asked how the facebook phone was selling. when facebook was cool a couple years ago, they would have sold these phones. dagen: to change the subject slightly, jolene said ad spam and babi

the deal announced about an hour ago represents see all of marissa mayer's boat is more yet since shegoogle 10 months ago. denmark's their most expensive acquisitions since the company bought overture for 1.3 billion a decade ago. we will talk more about this deal with our financial expert brought black at 6:45 a.m.. >> taking a look at the stock market this morning. future trading shows mixed trading across the board. the s&p 500 is a negative, while the dow and the nasdaq are trading positively. last week the market ended with a surge upward. here is a look at friday's closing numbers. the dow rose 121 points to close at 15,354. the nasdaq added 33 points to close at 3499. if the s&p 500 climbed 17 points to close at 1667. will be watching the stock market all morning long here on kron 4 news. >> new this morning, a new poll finds that despite the controversy surrounding the irs and the attacks in been gauzy, president obama approval rating is still up from last month. obama now has a 53 percent approval rating, that is up from 51% at the beginning of april. 45 percent now say that

nonetheless, marissa mayer needs to do something dramatic. dennis: she really does.evenue of about $700 million a year. it has $300 million in debt. yahoo! stocks are recovering. the thinking is, yes. liz: it is just amazing. yahoo! was it. they owned it. and game google and now you see the other opportunities. dennis: you have this guy who has been out run by all of these studs. liz: we think it is cool that he is tweeting. dennis: his compliance lawyers are know doubt mortified. liz: "the closing bell" is ringing in about 15 minutes. "you've got mail." remember that? we showed tim armstrong standing by. he is ready. he is the chairman and ceo. it is very hard to regain cool. we would love to hear from you guys. is aol really cool again? will you reactivate that old aol account? dennis? dennis: no. liz: tweaked the show. we will reveal the best answers later in the show. ♪ liz: it sure is cool to have. one of the first. if you lose the coolness factor of a company, it is hard to get it back. second highest online video views. hulu say they are second behind you to.

but good for her for going out there and owning it to be great at what she is doing and i hope marissa mayerer her for somebody you can turn around a sinking ship. melissa: and will not be easy. thank you for joining us. this is what i call a filibuster think congress is a dysfunctional mess and other countries parliament has it. look at that what is behind this epic brawl? you cannot have too much money. ♪ melissa: it is time with some fun with drum change -- bear change thank you for coming. check out the fight that broke out in venezuela parliame the country's opposition party refusing to recognize the results of the presidential election members were protesting a ban that strip them of most legislative powers then pro-government members started to throw punches it is crazy. wouldn't that be fabulous i mean wouldn't that be terrible? [laughter] >> but what is the leadership and statesmlike behavior but apparently if you're not happy to get out. melissa: or if you feel everybody cheated. >> a chavez looks first through the pledges they want to show -- shut up congress but i will get letter

the company on the verge of lowing its biggest acquisition under ceo marissa mayer. yahoo is expected to announce today it is purchasing the blogging service tumbler for more than a billion dollars. the cash deal approved in the board of directors meeting last night. tumbler is popular with teens and young adults, pour than 108 pillian blogs currently served on tumbler. an invitation to the event was sent out friday, promising to unveil something special this evening in new york. >>> boeing's dreamliner 787 will return to the skies in the u.s. today. paltry problems grounded the airliner. -- battery problems grounded the airliner. >>> >>> when you shop for sunscreen, basically anything above 50 you feel like you are getting twice the protection but it is basically the same. >>> industry experts said the new star trek film would bump iron man 3 from top of the box office did it happen? >> it did do that. and disappointment if hollywood this morning. we'll tell you why. coming up -- in holy wood this morning. we'll tell you why, coming up. >>> you can win a vespa. two

marissa mayer of yahoo! is making the announcement that they will buy tumblr. they promise not to screw it up. mellody hobson joins us. good morning. >> a bold move by yahoo! and mayer. why tumblr? >> it's a cross between facebook and twitter. very popular. 100 million users. 11th most popular site. she wept out and bought herself some cool. that's basically what she did. the key issue here is the demographic. very, very young. most of the users under 35. that is the demographic that advertisers covet because they spend a lot of monday. she also bought mobile access. >> so is she betting the farm on cool? >> i don't think she's betting by any stretch of the imagination but she's saying she wants to make it part of everyday life. >> what's the risk for yahoo!? >> first of all, acquisitions are inherently risky, and this is her tenth acquisition since july. 25% above its private price that we saw for tumblr. they only made $13 million last year. its users don't like ads. if she tries to put ads on, what happens? last thing, this is like the wild wild west, uncens

this would be marissa mayer's biggest deal yet. yahoo! has lagged in the social media space.eb with 175 employees and they have raised more than $125 million in venture funding from several big name firms. this deal would be a test to mayer to ensure that tumblr doesn't fall to the wayside as past yoo-hoo deals have. yahoo! has declined to comment on the deal. however, mayer and team had a press event scheduled for later today in manhattan that promises to be special. shares of yahoo! have gained better than 70% under mayer. >> thank you very much. jeffrey is still with us. jeffrey, do you think we're going to see a lot more deals here in the next couple of months? i mean, is the deal environment, is it ripe? >> i do. i think that on average, the companies in the u.s. are undervalued on a medium basis. and i do think you're going to see m&a activity pick the up. we're seeing it here at raymond james, as a matter of fact. >> jeffrey, thank you very much. just monday getting well under way. chief investment strategist at raymond james, getting up very early to be with us. thank

s ceo marissa mayer and tumblr's ceo david karp.'s coming up at 10:00 eastern. [ female announcer ] what if the next big thing, isn't a thing at all? it's lots of things. all waking up. ♪ becoming part of the global phenomenon we call the internet of everything. ♪ trees will talk to networks will talk to scientists about climate change. cars will talk to road sensors will talk to stoplights about traffic efficiency. the ambulance will talk to patient records will talk to doctors about saving lives. it's going to be amazing. and exciting. and maybe, most remarkably, not that far away. the next big thing? we're going to wake the world up. ♪ and watch, with eyes wide, as it gets to work. ♪ cisco. tomorrow starts here. >>> welcome back, everyone. for viewers just waking up this morning, we want to bring you up po speed on the situation in oklahoma. a tornado killing at least 51 people, including 20 children, officials are warning that the death toll is certain to rise significantly and making the search efforts even more difficult. resc

also yahoo ceo marissa mayer is making headlines yet again.ime she's making the company's maternity leave more generous. new moms will get 16 weeks of paid leave. dads will get 8 weeks. parents also get 500 bucks to spend on diapers, clothes and other baby items. mayer is bringing yahoo policies more in line with other companies. but at facebook mums and dads get 16 weeks of leave and also $4,000. >> that's incentive right there. fertility plan. 26 minutes after the hour. next on "starting point" just in to cnn we are hearing from paula broadwell for the first time. you'll remember she was the woman who had an affair with former cia director david petrae petraeus. what she is saying about life after the scandal just ahead. >> then, sheryl crow has joined the fight against hunger. she is here live with her nutrition mission. and we'll get an early listen to her new single, as well. that's a treat. "starting point" back in a moment. [ female announcer ] what does the anti-aging power of olay total effects plus the perfecting color of a bb cream

marissa mayer.y announced they are buying tumblr for $1.1 billion. >> in the market for a new car or truck this could be the day to shop with some of the best deals of the year over the memorial day holiday. dealers are predict large crowds and aring to make deals to move the vehicle off the lot. the auto industry is on the verge of having one of the best sales months and dealers want to end it strong. >> shy of 6:17 and mike nicco a day sky.orial day forecast >> special tie for memorial day and independence day. now, nice to have you here on this holiday. fort bragg had a nice shower, and headed to the north next half hour to 45 minutes where our best radar returns are showing up right now. but to the north, you can see a system coming our way headed down to the south bay and it will get there probably by the end of the morning rush hour if you will on this holiday at 9:00 so scattered light showers are on the way and if you head out on the bay waters, winds at 15 to 25 knots and gusting to 30 knot

ceo marissa mayer. the move seen as an attempt by yahoo! to reach a younger crowd. >>> take a look at this. nasa telescopes have picked up the brightest explosion ever recorded on the moon. if we can see it, right there. the arrow points it out. it was actually visible from earth. you see it there again. it happened when a rock struck the lunar surface, traveling at 56,000 miles per hour. >>> and finally, you know what they say about revenge. watch what happens when a guy at wrigley field in chicago went up to catch a home run ball. hard to see, but you will see that he actually spills some of his wife's beer. and you saw how she decided to get back. oh, yes. all's fair in love and at the ball field. she said, if i got a little wet, he wasn't leaving the park dry. fair to say. >> fair to say. >> that catch? come on. >> no. you get dirty. you have to get dirty. >> all right, josh, thank you. >> you bet. >>> now, to the latest on that winning ticket. almost $600 million, the largest jackpot in powerball history. will the lucky winner come for