matt miller, joining me. cribing her ex-husband per se but people like her ex-husband. is she right about this? matt: if you ever wanted to find out what it is like in the billionaire making machine, she did it. i think what she said holds a lot of weight. of session is one of the key components. this guy has built at least four companies. a real obsession, not just for money, but a drive to succeed, to win and to crush competition. to see ideas come to fruition. what she says resonates. betty: a lot of people ask people who are over rich what is it like to have all this money. that is what they want to know. matt: they talk about it as a scorecard. with bloomberg billionaires index -- betty: i'm sure they're all on it. matt: some billionaires have told me it is about $500 million -- every trick in you could ever want. everything else above that is this measuring stick. they have different ways which they can measure themselves. the length of their yacht the sprites of the -- the price of the sports team, a lo

matt miller is in for alix steel. he joins me now. ford f series is the best-selling vehicle in america for 37 years. i was surprised to hear how much of these carmakers in sales is trucks in the u.s. 67% of all the vehicles they sell our trucks. even toyota, more than half of the vehicles they sell our light trucks. it's interesting that they even bother making anything else. they are not quite like enough. the big three carmakers don't make enough super compact or super light trucks to satisfy u.s. demand. kevin put out a report on that this morning saying the european automakers will get a jump on the american automakers here at home because they make smaller trucks and smaller, more compact crossovers. mark: luxury market, mercedes versus bmw. matt: i know you've always been a fan of mercedes-benz. i've been interviewing a lot of mercedes-benz executives. they've been having banner months here in the u.s. i thought when we got the global numbers, they would be heads above the rest. bmw held its lead. bmw sold 451,000 cars worldwid

matt miller is here. matt: it is actually raining outside.be sunny and raining. matt: it is not funny. olivia: matt is in for betty liu on "in the loop." is there a nationwide battle brewing between the cable companies? matt: no there is opposition as always. i will talk to leo hindery about it, a media blu-ray, and also asked him what he thinks about this whole sling tv problem, which is some people are buying's moeller cable packages, they pay less money, they get fewer channels, but it is not working very well because it is internet-based so for example during the final four, a lot of people did not into watch their games. they got error message and what terribly unhappy. is it a good thing? leo thinks it is not because it lessens the diversity, and we need the diversity of 1000 cable channels he thinks for this society. olivia: and to many were trying to watch kentucky lose on saturday night and were not able to get on. that was a big up that. the cover of the business section of the "wall street journal," viacom taking the charge on cabl

matt: i'm matt miller. r eric in stephanie today. -- we are in for eric and stephanie today. eric is probably working furiously on his laptop. olivia: stephanie isn't? matt: she is more of a networker. olivia: the u.s. economy came to an almost complete halt in the first quarter. gdp rose at a rate of 2/10 of 1%. forecasters predicted it will -- a 1% gain. fed officials are wrapping up their meeting today and new data may lead them to signal a are in no hurry to raise interest rates. time warner is raking in more fees and advertising at its cable channels. the company posted earnings that the analyst estimates for a 25th straight quarter. time warner cost turner unit had record income of $1.1 billion. that was helped by a decision to cut 10% of its workforce. hbo profits fell more than 1% next to higher programming and distribution costs. shares of lumber liquidators are taking a dive. the company reporting an unexpected loss and saying its cfo is stepping down. seat -- 50 minutes said some of lumber liquida

brendan: i need to provide valuable context, a great appreciator of european luxury matt miller. hat detroit is doing, are they getting it right? matt: they have been for quite a few years. it does not hurt that the economy is bounding back. gas prices are low and people can afford to fuel them. ford, general motors, and chrysler are all building more quality products and products people want to buy more than ever. brendan: when we look to the domestic market, are we talking light trucks or big cars? matt: light trucks are the biggest moneymaker and cars that americans like to buy the best david the cars are coming back in a big way lincoln has a new continental out and general motors is picking out a new big cadillac. the new american cruiser could be the car of 2016. brendan: today at miller will talk about cars as he hosts "in the loop." at 9 a.m., the ceo of bloomberg any -- of lamborghini, matt miller is excited about that. ♪ tom: we are watching german yields coming down. they are grinding lower this morning and futures negative for. let's get to our top headlines. olivia: n

tweet us your guesses @ scarlet fu @ matt miller. matt: @ matt miller 1973.likes a more creative answer. this is the second time i've seen someone in the yearbook game who has gone to new chart -- new utrecht high school. ♪ scarlet: more m&a activity in the drug industry, mylan boosting its bid for perrigo. the perrigo deal would be mylan's biggest ever and could help the company to not get bought out. shares of starbucks rising today, quarterly sales gained 18% at the world's biggest chain of coffee shops. the app accounted for 1/5 of u.s. payments in the order. it's the end of an era at abercrombie & fitch. no longer will abercrombie only higher hunks and hotties. signature billboards used to feature male models with ripped abs. now the company is doing away with its notorious look policy. you don't have to be good looking to work there. abercrombie getting rid of the legacy of former ceo jeffrey's -- mike jeffries. coming up in a few minutes, what the british flash crash trader is really like. the american tourists who are fired up about cuba's open-door,

brendan: matt miller has read every word of capital in the 21st century. e paperback everywhere he goes. what is new? matt: the problem is, i read it in french and i don't speak french, so i did not get much from it. apparently, i have not read capital as has nobody, except you and tom. brendan: did you read capital? olivia: i read the review. robert: i have to admit i downloaded it to say i had it. brendan: you downloaded it, but amazon kindle said the it is the most unread hook. robert: i made it to page 70. matt: he didn't take it down but he challenges some of the giddy -- thomas piketty's key concepts. he brings down the ratio of capital to labor. everyone was blown away by the fact that capital was so much greater than labor. and also pointing out that the biggest share of the wealthiest wealth is housing. i don't think that the shocker. if you have of a house in vail and a vacation place in the hamptons and a great condo on fifth avenue, you will be a wealthy person. brendan: even the takedown attempt is about a very ancient form of capital, land. it

matt miller is life with the general motors ceo, chuck stevens. matt: chuck, thank you for joining us. let's get the myth out of the way. about half of it comes from the south american business here the other half comes from a tax rate higher than analysts modeled. none of that should be a surprise. why did analysts get it wrong? chuck: i cannot speak it up at what i would say is, overall, we had a very solid first order and we were spot on versus consensus across the world with the exception of south american and perhaps deterioration in brazil and how quickly that manifested itself. we were at best really pleased about the results in north america. seventh straight quarter of margin expansion. overall, we are very much on plan to meet our objectives for the year, to improve margins on aggregate across the business. matt: i think the margin improvement is impressive at the least. let me get out of the way the stock question. another company today i will not name beat earnings estimates because it is not taking lumps it will inevitably have to appe

matt miller and joe weisenthal joining me.may be a huge takeover tuesday at least for the drug industry. and big takeover in generics. in the last 20 minutes teva propose to buy mylan. props for getting the scoop over the weekend. mylan has turned down previous offers from the company. who wants to chime in on this? joe: and other drug company buying another drug company? matt: i am having a hard time keepingmatt: track of all the drug deals this year. 's other headlines -- these are the headlines. they are all huge. joe: health care is a huge sector. this isn't really surprising. bloomberg of the story over the weekend that it is confirmation of a scoop. betty: there you go. we will continue to see these deals. will kind of drug deals were you seeing in college, matt? number 3 -- the china conundrum. in the first trading day, the shanghai composite index climbed to a seven-year high. a chinese power transformer maker could become the first company to default in the market after fighting big uncertainty about its ability to ma

thanks to matt miller and carol massar for joining me. matt: what a pleasure.o spend friday. betty: we will speak more about greece and economics. the professor weighs in that. we will have to see what yes to say. ♪ betty: despite a good amount of economic data this week, the market i has traded relatively sideways. i think overall we are seeing a selloff here in the markets. we are rebounding a little bit. scarlet fu is joining me. we need a new perspective on this. scarlet: we did get perspectives of a record high earlier this week, but it looks like we will end the week lower. there are overarching themes holding us back. first among his greece. will they exit the euro? most people i talk to are convinced that this is the next step of greek poking back. yields coming down and european stocks would reach a record high on wednesday are in slight retreat because it already rallied on the ecb saying it is want to stay with the qe program, but they are still not quite clear and certain on what is happening next and how it can go on. then you have china and the qu

i'm matt miller. a slew of earnings out after the closing bell.scarlet fu and the breaking news desk. scarlet: the earnings just keep on coming. let's begin with wynn. the company cut its quarterly dividend by two thirds. now $.50 versus the previous $1.50. the first quarter revenue missed analyst estimates and fell 28% from the same time last year. analysts were looking for a drop of 26%. revenue fell even more than that. the only chinese city where damming is legal was down in the first quarter. you have china's anticorruption campaign discouraging mainland whales from going to macau and gambling in any overt way. of course you have a slowdown in china overall. the economy grinding to a 7% rate. all about that is affecting the share price right now. matt: before you move on, i want to point out that even if it's more difficult to gamble in macau, the chinese are much for your to invest in the stock market. so this mainland wales still have an outlet. scarlet: this is true. instead of gambling in macau, they are gambling in the stock market. is t

matt miller has agreed to join me. consumer confidence survey is at the second-highest rate in eight years. inflation expectations were down. when it comes to raising interest rates, to that officials are saying taken lowly. the atlanta fed president and raising rates in june is not his reference. the option is off the table. economic data will lead to keep improving before rates would be raised. that reinforces forecast that they will wait until september before they make a move. we have a sense of general electric will look like in the future. the first quarter profits the estimates. rising sales of power generation equipment help offset the drag from the oilfield business. they lost $11 billion due to sale of most of the assets is financed unit. the ceo says the timing was right. >> this is an excellent time to sell financial assets. this demonstrates that are platforms may be worth more outside the company. matt: able meet their industrial earnings forecast for the year. shares fell today after there was definite --

matt miller was in georgia at augusta national golf club and unfortunately showed up in this pink jacket matt: i don't have a green jacket but a lot of the members of augusta will wear a green jacket and pink tie and thought it was a fitting combination for my return to new york. it was honestly one of the most amazing experiences of my life. i got to walk with phil on saturday. he had an amazing round. i got a tour of the club from a very gashese -- gracious member there and got a hold a bottle of president eisenhower's wine and touch a table made of his tree. so it was a very memorable weekend. tom: away from the tv grod cast done at like the sistine cap ell and waiting for the pope to walk in. away from the broadcast, what's the masters experience they don't capture in the wonderful cbs coverage? matt: one of the most amazing things i brought back from it compared to other golf tournaments was the u.s. tournament is there were far fewer people that go to the masters. they keep the course incredibly well maintained and keep it less crowded than you would any of the other majors. olivia

matt miller speaking to the ceo of ran track. ♪ olivia: good morning.rveillance. we begin with greece, which is all paid up for now. the government gave half $1 billion that it owed to the imf. next up for the prime minister, trying to persuade europe to unlock billions more euros in aid. white police officer charged with murder in the shooting of an unarmed black man has been fired. the video shows the officer firing eight shots as scott attempted to flee. a french tv network is trying to stave off a massive hacking attack. the attackers blacked out 11 channels belonging to tv five. the network's website and social media sites were also blacked out. rouhani says iran will not sign -- a deal is in place to live to the healthy once iran says it will not build nuclear weapons but it does not in an exact timetable at&t taking new steps to protect customer information. workers overseas still personal information from 300,000 accounts. the toughest such action ever by the ftc. bob schieffer will retire this summer after nearly half a century at cbs. he has h

i am matt miller in for betty liu. we are 90 minutes away from the opening bell. we have a great show for you today. leo hindery joins us to discuss why they could be a nationwide war as cable company's battle each other for online subscribers. could we see even more consolidation in this industry? doug hyde joins on a big day for republicans senator rand paul said to announce his run for presidency at noon eastern time. we will bring you the latest on the chicago mayoral race. a big run off thee. a california drought situation worsens and we look at u.s. consumption versus the rest of the world. we will give you all you need to know about it. here's a look at our top stories. fedex is expanding in europe. it will pay $4.8 billion for a struggling dutch delivery company. ubs tried to buy the company to years ago but regulators block the deal. fedex runs the world's largest cargo airline. like father like son, a few hours from now, rand paul will join the republican presidential race. his father is ron paul, the former congressman who ran twice for the gop nominati

matt miller caught up with the ceo ludwig willisch on the floor of the new york auto show. m here and i thought it would be interesting to talk about the high-tech i-cars i-line that they have out. you are a race car collector and racecar driver. you happen to drive the i3. when you told me that i couldn't believe it. you said it's got the bmw dna in it. ludwig: absolutely. that is why i drive it. the way it drives it's so agile it's light, and it's great as far as acceleration is concerned. that's all you need for a commute. this is what the car is meant for. bmw is true to its brand. matt: so the i3 is an all electric car. you can get it with a range extender but that doesn't drive the axel. it's completely green in that sense. ludwig: it is. it's green in the sense it's emission free. but we think it's also very important that the whole production is very sustainable. we start producing the carbon fiber in moses lake, washington, with hydro power. we just use water to produce it. we don't have any electricity outside of our own plant necessary. then the car is built in ge

i matt miller. olivia: i'm olivia.

tom: let us look in the loop with matt miller in today for betty liu.len looks at the jobs report and finally, the ncaa doing better than good. boy do they have a great game tonight with wisconsin. we will continue that discussion all day on bloomberg television and bloomberg relative -- radio. i got wiped out with kentucky. we will talk about that here in a minute. this is what you are waiting for with tony dwyer. what he desires is an oversold market that tries on ever greater volume. he is not received any of these gifts. we turn to april. mr. dwyer's board. what's to get this market going? tony: you need a fundamentally driven market which is what we explained earlier when low inflation equals a steep yield curve that you are ultimately not going into a recession. they will not peak until you are eight months into a recession. that means that we are multiple years away from that. the bottom line is that you need a reason to expect the launch of a next leg higher. there are one or two things that do it. you get a huge volume loop to the upside or dee

matt miller was an aid to lynch's predecessor eric holder. this is a lot to get into on day one of the job. how should the new ag navigate this one? >> it is a lot on the first day. i'm sure it's not how she planned her first day but it's part of the job and you have to deal with curveballs that come at you. what you'll see from her is the civil rights vision which already being investigated the police department in baltimore, even before the freddie gray incident, has to work diligently at their investigation into the police department, they are going to have to report back publicly like they did in ferguson not just as to what happened with the death of freddie gray but also the broader systemic issues at the police department, whether they have a pattern of abusing the civil rights of people in baltimore. and i think there's another question about if the violence continues in baltimore, you're going to have to see whether loretta lynch goes to baltimore and makes the kind of appearance eric holder did in ferguson and something that could b

who is ready to speak and i have to throw it back to matt miller. network after all. matt: thanks. i want to turn out to a special interview on the day greece pledges to make nearly half $1 billion in payments, bloomberg is to speak with yanis varoufakis. . are you there? looks like we are having technical difficulties with that. trying to get manus cranny over there. we will take a quick break and be back with the greek finance minister. ♪ matt: i want to turn out to an exclusive interview with yana spero farkas with our own manus cranny. manus: thank you very much. we are alive in the gardens of the oecd. you have been here all day. welcome to bloomberg. let us get right to it. how confident are you that you will do a deal by april 24? yanis: very confident. negotiations are proceeding quite well and our mutual interest is to strike a deal by the 24th and i am sure we will. manus: striking a deal involves trust. do you trust brussels and germany on equal measure? do you trust the people you are doing business with? yanis: trust takes a number of st

stephanie: we want to take you to matt miller at the breaking news desk for action overseas. hanks. we are starting with broader averages. the stocks 600 is down for the third straight day. if you look at greece, happens is up 3%, its best level since early march. and greece has been higher for six of the past seven sessions. go figure. the dax, you can see it gaining one third of 1% to 11,471. take a look at currencies. the euro, straight days of gains, its longest winning -- six straight days of gains, is longest running street of the year. due in part to the weakness recently of the dollar. the euro is at a two-month high against the greenback. as far as individually members -- individual movers nokia is at its lowest level since october. st micro also having his worst day -- its worst day in three years. and rolling of scotland at a six-month low, posting a larger quarterly loss than analysts predict it from having to set aside more money for currency probes. they are in vogue right now. stephanie: i want to talk about a woman who is invoked come hillary clinton. -- en vog

i am matt miller, in for betty liu. back with ed conard.anted to let you finish your thought on income inequality. if the rich are not making all of their extra money -- we actually have a graphic that shows how much wealthier the top quintile is getting as the lesser quintiles are losing income. how come they are losing this much income? ed: if you look at the two theories of income inequality. one is that the halves are negotiating with the have-nots. a classic managers against labor. a second way is that the 1% are earning their success by coming up with innovations and things like apple and google that are valuable. that is putting upward pressure on wages. there is independent set of forces that are pushing downward on wages. if you conflate the two and blame the success of the 1% for what is happening to the stagnant wages of the middle class, you want to tax them and redistribute the money but you are slowing down the thing that is putting upward pressure on wages. if you don't solve the other problem, you're left with the thing that

i am matt miller, in for betty liu on this thursday. futures indicate stocks will open lower.t looking ahead to the pivotal jobs report for march. talks with iran went through the night, but still no deal. iran is saying at least some progress was made. >> i hope we reviewed all solutions. these solutions were discussed as general topics, which were to be agreed upon between today and july 1, and lead to a final agreement. right now p5 plus one members are talking. let's see what they can do. matt: doesn't sound like a lot of progress. diplomats in switzerland say only that i have a blueprint for a deal. the u.s. and five other world powers promise to lift sanctions on iran if it promises not to build nuclear weapons. greek banks are getting a lifeline. the european central bank is boosting their emergency funds. the ecb wants to make sure the banks stay open. the debt ridden country kospi ministers heading to moscow. alexis tsipras will meet with russian president vladimir putin. some are calling it a sideshow saying putin is unlikely to give greece any money. the water war i

i'm matt miller in for emily chang. japanese prime minister is at the white house for key meetings with president obama. the leaders say they are committed to strengthening their alliance and setting the transpacific trade partnership despite political opposition to the trade deal. >> on the bilateral issues, significant progress was made. we will continue to cooperate to lead the talks to its last phase. matt: a state dinner is tonight with 300 guests in attendance. president obama also spoke about the riots in baltimore. he says while there have been struggling police interaction with black citizens across the country, there is no excuse for the violence. president obama: it is not a protest. it is not a statement. it is a handful of people taking advantage of the situation for their own purposes and they need to be treated as criminals. matt: meanwhile, the orioles canceled their games with the white sox for the second straight night. they will play tomorrow but the game is closed to the public. the first time we rec

alix: thank you so much, matt miller and kurt kuehn from ups.m dow jones defects in the key components of the apple watch, something called the tactic engine it has to do with vibrations and sensing vibrations as you tap it in the watch. we do not have more details, but we will continue to try to figure out what is going on with that. we also want to bring you some breaking news from baidu, the chinese company. $1.22. the estimate was a dollars 16. -- $1.16. it's revenue for online revenue down from its fourth quarter, so watching those i do shares, as well, in the after-hours. alix? alix: julie, thank you. we do have some news on greece. moody's is downgrading them to caa2. so they are downgrading greece's bond ratings to below. a guest joins us. what is your reaction to this? >> it is basically a default category, expecting perhaps the may 1 and may 15 approximate payment to not be made to the imf, so will be content is there will be an 11th hour consensus agreed upon, but it seems they are really coming up against a wall here. greece really i

"street smart with matt miller" is next. matt: welcome to the most important part of the session.s is street smart will. stocks --"street smart." stocks rising back to record highs. we are counting down to results from twitter, go pro, and kraft foods after the bell. plus, economist nouriel roubini will join us, and billionaire investor jeff glen rock gives us his call on european sovereign bonds. "street smart" starts now.

cory: that was our matt miller with bmw's north american ceo.est of "bloomberg west" will be right back. ♪ cory: this is the best of "bloomberg west." i'm cory johnson. it is one of the most talked about app debuts in recent memory. we are talking about the live streaming app meerkat. four weeks after launching, it raised $14 million in funding and quite quickly. the app lets users live broadcast videos and comments from their smart phone to twitter. they can't replay or save the video. it is snapchat meets facetime all that and more. and the best is though could they already be behind it? it's fallen from number 140 to 523 last week. i put that very question to meerkat's ceo ben rubin. ben: it's not that early in our venture. actually we've been in the live video space for more than 2-1/2 years now. we've known success and failures before. one thing that is very interesting to see about meerkat is that it was actually able to unlock behavior of live-streaming behavior. like people that wouldn't live stream otherwise are now live streaming. cory

i'm matt miller in for emily chang. here's a check on the top headlines.e prime minister shinzo abe is at the white house for key meetings with president obama. the two leaders say they are committed to strengthening their alliance and signing the transpacific trade partnership

. >>> matt miller former aide to attorney general eric holder, good day to you. >> good day. >> matt,tment during a period when these rules were being internally drafted and then some of them published, a period of tremendous controversy, frankly. i want to put up on the screen just a couple of the legal principles the military has used generally. they talk about four principles for targeting and war, military necessity, humanity avoiding unnecessary suffering, a proportionality, a very old concept in war, and distinction, a key issue here which is targeting specific enemies, something that the white house says may not have occurred here because of the nature of the strike, that it was striking an al qaeda facility but not individuals. walk us through your thoughts on how those principles are applied in this program and whether anything that we learn today suggests that anything is awry here. >> so those are the general military principles that they use for these kind of strikes and others. but on top of that there's an additional layer of review that the white house working with the

matt miller joins us. russia and brazil -- is that a surprise? matt: it is not a surprise. $.86. the other half is the tax rate. the myth is not as interesting as what is going on here. tom: i agree. how much did they make on a suburban? matt: they do not release their figures. tom: they have to be loving gouber. matt: suburban sales have doubled in the first quarter. tom: the french press is out with a single headline. the prophet is eight times bigger than it was. are they killing forward? matt: gm and ford are strong competitors. they are at different points in the market. ford is looking at explosive growth but does not have as much of a base. tom: i do not see ford cars as much as i see gm cars. matt: gm is a bear for -- gm is a bigger company. ford has its strong points. tom: olivia does not know what an opel is. matt: opel is going strong. they pulled the chevrolet brand out of europe. russia is the interesting story. are the cadillac ads working? olivia: is that the matthew mcconaughey ad? matt: no, lincoln. it split off the business. they are going to invest $12 bi

the pickup trucks matt miller is always going on about. they have been demanding more aluminum. going into the auto industry. interesting to hear all code -- alcoa raising its view. we are looking at commentary from the company on its purchase of rti, which it bought last month. a lot of questions over how they are going to integrate the company and be about to create some scale and leverage that. scarlet: we have some breaking news on zynga. the ceo will be leaving the company. the founder and chairman will return to his ceo role. the founder will be coming back. scarlet, what is interesting to take a look here is zynga has been struggling. i am looking at earnings estimates looking to be down by about 118%. you have to wonder what is behind this sort of move. scarlet: zynga has had a tough time adjusting to the movement to mobile from the desktop. it was a big player when facebook came out with the game on the website, but ever since people try to access facebook through their mobile device, they had a tough time adjusting. they did not make the transition to a handheld device

i'm matt miller. talks will hedge slightly lower at the open.etting ready for the surge of reports as earnings season starts once again. it is not forecast to be a good one. hillary clinton is going back to where her 2008 it went wrong. she is headed to iowa for appearances tomorrow and wednesday. president obama says he thinks mrs. clinton is more than qualified. president obama: she was a formidable candidate in 2008 and a great supporter of mine in the general election. she was an outstanding secretary of state. she is my friend. i think she would be an excellent president. in that i am not on the ballot so, i will not step on her lines. matt: hillary finished third seven years ago. first in the democratic race now because no one else is in it. marco rubio expected to join the race today. a rally in miami. he would be joining ted cruz of texas and rand paul of kentucky. he is putting out an advertisement tomorrow that calls the former secretary of state the worst of the washington machine. china to sell the iran nuclear deal on capitol hill t

i am matt miller in for betty liu.ig number, $156 million, the size of discovery communications ceo pay package after agreeing to renew the contract for six years, david saw $100 million in performance-based prescription stocks. helped take the company public he was already one of the highest-paid media executives in the u.s. and he is now getting a lot more money. 26 minutes past the hour bloomberg television is on the market. scarlet fu is at the breaking news desk with more. scarlet: oils are in focus. saudi arabia raises prices for crude sales. three straight games, where should it be going here -- from here? bob you have been nailing the call here for oil prices. saudi arabia crude prices, what does that signal to you? bob: it seems to me they are signaling demand i am not seeing . not coming out in the data yet here they have more information i do. they are seeing something i am not seeing. they are confident in the market share i grabbed with these prices. cheaper than most of the globe so they're confident in t

i'm matt miller. stephanie: how about the bulletin? cure of the top business stories of the morning. it has a big dish has been a big quarter for morgan stanley. adjusted revenue was the highest in more than five years. equity trading and brokerage revenue was up to you james gordon has been shrinking the fixed income unit and counting more on stock trading and advising wealthy investors. shares are up. the new york fed president says he is relatively confident the fed will raise interest rates this year. he is not positive. dudley spoke at an event here. fed policymakers have been split over whether to raise rates in june or september. take a look. >> the unemployment rate is too high. because the economic outlook is certain i can't tell you when normalization will occur. stephanie: the stronger dollar could reduce growth by more than half a percentage point. in an opinion article in the new york times the iranian people have shown their resolve by choosing to engage with dignity. he says it is time for the united states and its allie

alix: my special thanks to governor tom ridge as well as matt miller. netflix spiking in after-hours trading. the company raking in a record 4.9 million's of scrubbers in the first -- a record four point 9 million new subscribers in the first quarter. plus, do not miss my interview with quÉbec's energy minister p ierre arcand. we will be back in just a few minutes. ♪ alix: welcome back to "street smart." i am alix steel. let's get back to our chief markets correspondent scarlet fu, who is monitoring all of the headlines out of netflix. scarlet: netflix shares are soaring right now. the earnings per share of $.38 was well below its own forecasts of $.68 and analysts estimates of $.63. alix, we obsess over corporate earnings would have it tells a bigger story about the state of the industry, the state of the consumer, and the state of the economy, but every company'sstoxx moves on its owns metric, -- every company's stock moves on its own metric, and the white line is netflix's shares since the start of 2013. the stock's record high was reached back in mi