first we have paylocity. this of this as a miniature version of workday, which has been one of the best performing cloud plays out there, even though it's pulled back of late. butch we stand behind workday. paylocity has this payroll business where it competes directly with old school pay roll processor looks paychecks and adp and paylocity has been pretty good at poaching business. also not just workday but cornerstone on demand has made you a fortune and paylocity is growing like a weed. best of all, these cloud plays are pretty much always extremely overvalued on traditional metrics because the investors are really just looking at the scale of the opportunity that the tam, total adjustable market that i teach you about, paylocity is supposed to be trading at $14 to $16 wednesday, and it's a discount to the group average of seven times sales and much cheaper than cornerstone sales because that sells at 10.5 times sales. if can you get a piece of the paylocity ipo, i say give it a chance. that's how these pa

, request2 holding, paylocity and vosartis. darden you know as red lob ter, olive garden. it will give you many numbers. i think many people want to see a new ceo name. this is vurnl er vernlging on wall of shame territory. the new ceo name. we hear also from tiffany, which i think will report a terrific number. maybe as good as from williams sonoma earlier in the week. what happens in tiffany's, stays at tiffany's, a new number won't in impact a retailer, and the chinese slow down to dominate the news flow. in other words, no pin action. still, the bottom line is i think the healthy domestic stock, retailers and pharmaceutical names are poised to war after this big bad news that then occurs monday. i'd be buying them the weakness that we get if uncertainty still hangs in the air and then as the week plays out to be even more, i would get even more aggressive, going into fed chief yellin's press conference on wednesday, something like a first solar, needless to say, though, we get a hot war over ukraine, all bets are off. time

. >> paylocity a is pricing ahead of the range.that name and we're talking about the ipo listings here and alibaba is coming to new york. >> right. and i think that paylocity, look it's the cloud play of the day and the castlight of the day. i would like to see salesforce.com which is the actual barometer of cloud start going up. yesterday seemed like it had a move. it seems to always be thrown back when it gets in the $60 to $62 range and it's been straight down ever since. we haven't heard from mark benioff and then you have the froth cloud plays doing well and the actual cloud plays doing poorly. that can't last forever. >> we've talked about new york relative to some of the other places to take some of these listings the fact that alibaba picked it here, the kinds of share structure that you can do. and they are punching back and taking watson which is potentially a $5 billion or $6 billion listing and a london and hong kong listing and there might be a secondary in singapore. but i almost wonder if it's a little bit, sure, we

paylocity, okay? paylocity? a cloud-based play. cloud.f you can use the word cloud and software as a service, those four words -- >> there's another one today that we'll have the ceo on this very program has the magic word in it. >> it opened up 40%. oh, no, that's not. scripps says it opens up 40%. we'll probably have to wait for that. in the meantime the real cloud plays are doing terribly. that's the two markets. there's the market of the non -- let's say salesforce.com were to go private today and come public tomorrow, it would open up 20%. i'm just say spg the traditional cloud plays aren't keeping place with the brand-new cloud plays and that means froth. salesforce, interesting. it reported, the stock went from $67 to $68 and it's never looked up again. mark benioff the king as software as a service cloud. and these let's say i don't want to use the word pawn plays. how about bishop cloud -- not secular. knight cloud plays and game of throne, they look, no, they go sideways. these aren't in the league of the companies in cloud that

what you might not realize is that newly public stocks like a management software provider or paylocity2 holdings, a maker of cloud based holdings cannot go to these insame premiums without big money piling into them to take advantage of what they know will be hot deals. they want the pop, people. and money doesn't grow on trees. it has to come from somewhere. now, we know that money's been flowing out of the stock market for ages, going into more conservative investments. the question is, where is all this excess capital coming from for the ipos? what are the money managers selling so they can drive these to crazy premiums? the answer, it's simple. it's coming from the more established technology companies, whether it be existing or data management or from the big biotechs as these firms that chase these momentum companies tend to be kind of group think mode. that's what we've been seeing since the vicious downturn in the nasdaq started. it's one of the chief reasons i've been telling you please be a little careful with some of these established players because the shareholders are har

there's an incredible thing going on at border free, amber road, paylocity.herever i want. at the same time, you have tiffany, nike, they actually report these numbers aren't that bad at all. these stocks are selling off. you have unproven stuff that's going higher. the proven stuff going down. people say you know what, i missed nike, i'm or let's just sell it and the banks have done nothing at all and suddenly they get that the yield curve is going to change and they'll make a lot of money. this a reversion to craziness i think, frankly, not for the banks ipos is coming public and you'll find that most of the companies you just can't of what was that, what was the amber road or border free. >> i asked about the jobs act and whether they could have come public otherwise and they suggested they could have but do you think it's been a good thing or a bad thing for capitalism for capital formation for the ipo market, how did you think about it? >> i think reet now we're in this window if i said something bad about capitalism and the jobs act, people would say it

nasdaq, paylocity, celebrating its recent ipo. >> cloud-based. again, be careful.oud-based companies coming public, that's putting pressure on others. but we just had a cessation in the window these stocks would spring back. >> ones already out there have that haven't come public would see more buying? >> yes. if you had the seasoned players would come back, if there was a day where you didn't have to sell salesforce.com for paylocity. >> would you sell it for -- >> to get in on the deal. the deal gave you a big pop, helps performance. >> i know. i understand. >> time-honored. >> right. >> you've got to take down your waiting and just to do that? just -- >> not a lot of new money coming in. i think, after michael lewis' comments, you'll get even less coming in. >> that's not going to happen. >> some argue, even if that is true, that it delays any frothy period where you would get where retail came in in a big way, all right, long term it's bullish. >> i get that. >> yeah. >> true. >> we are seeing bioteches bounce. one of the disturbing qualities of the market, tha

they want to know why i don't love paylocity. you like workday, paychecks, why not velocity paycheck. no, sorry, i've been there too often. i remember when we were like in zoom and ex-owe does, and i know the companies have earnings, i wish they wouldn't come at once and i wish the real market were going higher. >> makes you wonder whether these companies are rushing for the exit while the getting's still good. >> that's what i'm worried about. it's not because the summer's around the corner, it's 27 degrees. it's because they feel like there's a lot of enthusiasm, capture enthusiasm. i'd rather have enthusiasm for march madness. i don't want enthusiasm for march ipo. >> the other prong to the alibaba story, where the company's going to list in the united states, whether the new york stock exchange, nasdaq. as far as usa today is concerned, on the front page it says alibaba has chosen the new york stock exchange, to which bob greifeld fell on the floor. is this still up in the air. >> until now. >> apparently so. >> things happen

this one courtesy of cloud computing payroll and personnel management company paylocity.0% after selling 7 million shares at 17 bucks a piece. both shares sold and the offering price were higher than expected. kelly, a lot of movement in some individual names, some real green in an otherwise saep ea o red. >> thanks very much. let's bring in greg mcbride from bank rate.com. it's great to see you. does this mean the end of low borrowing rates for american households and companies? >> well, not yet, kelly. i think what the fed did today was what was expected. they continued to stair step the tapering process by another $10 billion and pledged to keep the short-term rates unchanged. i think the message to consumers and businesses is 2014 could be your last hurrah to pay down that variable rate debt. things like credit cards, home equity lines of credit, student lobes while you have this tailwind. come 2015, 2016, then rates are going to start to move up, you will have a head wind. now is the time to make headway on that variable rate debt. >> sharon? >> what about the retire

you know, honestly, you look at them, how is paylocity doing? how will it do six months from now.order free the ceo was on this morning on "squawk" he's got a cloud thing going. hey, cloud. meanwhile, salesforce.com went from $68 when they reported the quarter and it lost ten points and no one wants salesforce.com and no one wants workday, they want mediwound. here's akebia, have you seen this thing? this is an incredible stock. phase two data. does anyone know how long it takes to get phase two data to the fda? you get through the s.e.c. like this, you get through the fda like that. >> we're just getting started. we have so many earnings reports to talk about we didn't get to. >> those are real companies. i don't want to talk about them, nike and tiffany they're real companies forget about them. i want amber road and a-10. >> okay. i hear you. >> you go for quality, my friend, and i say what the heck are you doing? over. >> word is that st. joe's is priced above the expected range. >> holy cow, are you kidding me? north dakota state will open up at a price i would be a seller but

last week the ipos were so thick that you could not keep track of the amber roads and the paylocities. salesforce.com is down. you can't have two markets. house divided will not stand. >> bracing for another big week in the ipo market after we saw a lot of companies skyrocket in their debuts last week. we mentioned king digital, maker of the popular game, candy crush. cbs outdoor americas, advertising unit of cbs. and delivery firm grub hub, raising anticipated size of its ipo to $178 million. cbs outdoors the big one here this week. >> it is. that's the one that seems the most -- credible. i have to tell you, when i did comps for candy, for king, it not expensive. making a lot of money. doing well, if they use -- if they use the range, if it doesn't go nuts, people are going to say, hold it zynga, no. this is a better company than zynga. >> why? they make money. >> because they make money. zynga was losing -- do you know zynga had players dropping out, even as it came public, they came public too late. the business was rolling over. this company, candy crush, hitting this is a very i

. >> selling tesla and they're circling into these deals where q-2, paylocity. amber road. you may have an amber road on the plane home. but amber -- these are all, like, data, you know, look, i don't want to generalize too much, but software as a service. so you sell the ones -- >> on a day where google is cutting prices on that. >> you sell the ones that are not giving you any performance and you get into the companies that are giving you a pop and it's worth it if you are a momentum guy. ibm was up six points yesterday. what does that say? >> i don't know. >> it says we've got a huge cloud business. we've got a huge software as a service business. >> and we're not a growth company. >> but people just like they like hewlett-packard look at microsoft. >> you talked about all these last night. you talked about cat. >> caterpillar. >> schlumberger, celgene. >> this is incredible. celgene has lost 32 straight points it's now gotten to where it's 12 times 2013 earnings but it was perceived as junk, right? because what people wanted to be in is bristol-myers and now it's come d