qualcomm better than expected. second quarter earnings of $1.31 a share. the company guiding q3 to the low side. it also disclosed a release from the fcc regarding bribery allegations associated with chinese state owned companies. stock trading down by 5% after hours. >> foreign corrupt practices act. this has been hanging over qualcomm for a bit here. >> go back 18 months. and you have seen moves of this magnitude. we traded up to north of 80 bucks. i say you buy it. granted, revenues weren't great and guidance. eps, big beat there. i think the quarter is fine. it's funny that apple had such a remarkable quarter. it's completely back and forth. >> you got to wonder if this is a read on samsung because people were expecting qualcomm was gaining share within samsung' e ecosystem. >> apple has not competed in china the same way they have. the android space as gotten very crowded. i think qualcomm makes sense. guy is saying they expected weak guidance. the market has been paved for this and that's something a lot of the street think they can outperform. >> do

. >> talk about qualcomm?comm, doesn't matter if you love ios and apple iphones or google android phones. qualcomm chips in all mobile devices standing into china. pay a dividend. you have to love that. >> not a terrible week for them? >> not at all. qualcomm is up niecely year to date and people are excited about their sechnology also spe up wi-fi. >> aol? >> a tough year. surprised they made it through my screen, because it is a company that a lot of people have negative feelings about, but it is now actually cheap. shedding its reliance on the old internet access business and focusing on more rapidly growing things, the "washington post." you have to look past boneheaded comments from armstrong about oba oba obamacare and discretioned babies. invest in the company, not the ceos are may not be the nicest in the world. >> thank you very much. for his full list of bargains, seven lucky text box bargains, go to our website. >>> thank you for spending your saturday with us. have a good weekend. >>> greetings fro

qualcomm's still solid. you look at their numbers, scott, and what their valuation is, this is not a name in front of itself. it's getting cheap again. >> back to apple. some are wondering whether the decision to split its stock has to do with getting into the dow. tom mcclellan is the editor of "the mcclellan report." tom, is that what this is about? >> i don't have any insights from the voices of the members of the board. i look at the peculiar number they picked, a 7-for-1 split. i can't remember a company having that split. a two for one, three for one, or maybe ten for one, but who picks the number seven? it's peculiar. >> i know, seven is lucky in vegas, maybe it's lucky for apple. >> it's also interesting that if you take the recent share price of apple, well up in the 500s and divide that by 7, that would put the share price of the split-adjusted apple right down smack in the middle of the price range of the 30 dow components. >> hey, tom, what do you make of the argument, and people that really watc

that's another. >> qualcomm is on the front of all next-generation chip technology.orried about qualcomm at all. your leverage to the economy and the emerging markets. emerging market and attrition of wireless devices is just starting. >> we have to leave it there. appreciate it. have a great weekend. for "on the markets," i'm julie hyman. ♪

the new have qualcomm forecasting fiscal third-quarter sales and profits that may miss estimates.n a filing, qualcomm said it received a notice from the fcc -- sec last month that the agency recommended enforcement action related to bribery allegations. the company says it is cooperating with inquiries at the department of justice. that is a look at some of the headlines. >> all right, thanks very much. let's get more and technology earnings coming out after the close of trading today. we have "bloomberg west" editor at large cory johnson. we also have scott galloway, a professor tour of marketing at nyu. thank you both for being here. cory johnson, let's go through some of the details of the apple earnings release. >> a lot of interesting numbers in apple's release. apple gives you basic information of income statement, cash flow statement, and some basic segment information for how many units they sell, what the revenues for the main project categories are. the biggest surprise was that the number of iphones sold really jumped in the quarter. >> almost 44 million. >> that is a b

. >>> later this hour we'll be joined by qualcomm's brand-new ceo, his very first television interview. also etna's ceo mark bertolinp. dunkin' brand ceos. weather was a problem. but people need coffee still in the bad weather. and the union pacific ceo, jack koraleski. >>> and there are a lot of earnings after the bell. mega earnings news continues. amazon, starbucks, microsoft, visa, pandora, just to name a few of the names that we will be getting earnings reports. >> she may be small, folks, but she'll have it all for you in this 4:00 hour. >> we've got our reporters geared up, instant numbers, instant analysis, know how it affects your money, your stocks and your prfl portfolios. >> dow jones industrial average for the day, final hour of trading. the nasdaq is in the lead. it is up about 20 points off the highs of the day. but certainly higher as well as the s&p 500. apple certainly the stand-out performer here up 8%. the biggest company by market value. >>> let's get to our "closing bell" exchange talk about today's market action. heather hughes, jim lowell, greg epp, david traine

we wanted to look at the value indications then, back then qualcomm, internet capital group, juniperis staggering. >> to put it in perspective. >> qualcomm was a 580 times multiple stocks. internet capital group had a 2300 times earnings valuation, and juniper networks, which is still around, they do fiber, cables, all these equipment stocks, 38,000 times earnings. to give you perspective, it's impossible to go apples to apple. >> it's not the same market, but this is what bubble issues look li like. some of the big momentum names today. reguinneren is in there, but we've been talking about it, facebook as well as amazons, because dao regeneron, facebook at 104 sometimes earnings, and amazon at 550 times, so maybe a little bubblicious, but not the 38,000 times earnings. remember, there was a time when ge was a 500 some million dollar company. >> you have to rub it in. >> microsoft 600 billion. >> ge used to own us and we all had stock options. we were rich, at least on paper. thanks very much, dom. >>> stock slips a bit. then they're down a bit more. we have big winners. first, let's

i'll be speaking with the ceo of qualcomm steve mollenkopf.ens in the next hour of the "closing bell." >>> by the way, that's a great interview because paul jacob, chairman, former ceo told any a couple years ago in san diego if we change the corporate tax laws, this goes to the first segment we did in the show, he'd open a factory immediately and hire 10,000 people. >> cisco, all these guys. especially in tech. they have a lot of cash overseas. they want that to happen. >> ask him about that, i hope. right? >> you have to watch. >> oh. >>> a little more than an hour from now, we're -- start getting after the bell earnings reports. it is three big companies from the puget sound on deck. starbucks, microsoft, amazon. we've got all three covered. let us begin with amazon. we're joined by ben shakter. >> there are two key numbers. the margin number is important but also the unit growth. the unit growth is what a lot of investors have been focusing on for the last few quarters. we'll be looking at that first. >> target for amazon, 465, 40% above t

and in the late 1990s, we talked about qualcomm.ch of 1999 to march of 2000. i think the dow was flat over that period of time. those kind of imbalances where valuations and particular segments get completely crazy, that's definitely something worrisome. if you had overall evaluations on the market, 19, 20, 21 times, you're valuable to anything that can go wrong. >> so warren buffett was -- so he's 83. if it went from 40 to 16,000. and let's just use -- he was 20 when he started? >> he was like 7 when he started. if you multiply. we shouldn't hear 20,000 on the dow or 25,000. we have to get used to numbers like 50 and 100,000. >> the long-term real rate of return equities has been 6%. it's very stationary. >> it compounded. >> yeah. if you look at 50 or 100-year period, it will deliver a lot of numbers. >> so it was june of 2006 was the last time rates were raised. what is that? almost eight years. >> you were worried about peak earnings. in terms of how you see the potential for peak earnings soon given where we are -- or not soon.

qualcomm did not see that. this is about these guys taking share back, growing, growing the company. we didn't have growth. earnings per share close to double digits. how can you not have value going to these people. >> it's going to open near 570. 52-week highs 575 and with the split people say are they positioning themselves to get added to the dow which is only 10% tech as opposed to 20% for the s&p. >> i think not a lot of money index to the dow. what's important here is that they're giving you the money back and they don't -- it does not hurt -- there were people talking earlier on "squawk" is it going to hurt r and d. they had the static pool of money and they can raise debt. >> of course. they have to raise the debt they can't take so much of the money back because of our screwed up tax system here which we get into when we talk about the tax inversions. back top a -- to apple, the larger screen, because of the guidance are you looking at when the larger screen starts to hit that's going to be helpful as

that's another. >> qualcomm is on the front of all next-generation chip technology.omm at all. leverage to the economy and the emerging markets. emerging market and attrition of wireless devices is just starting. >> we have to leave it there. appreciate it. have a great weekend. for on the markets," i'm julie hyman. ♪ >> this is "taking stock" for friday, april 25, 2014. i'm pimm fox. today's theme is launch. as in space and space-x. it's set to launch not a rocket necessarily but a lawsuit against the u.s. air force. the company protesting a venture involving u.s. satellite launches. we'll bring you details. plus, northwestern university's football players take a vote on whether to launch a union. we debate the positives and the negatives of this historic move

qualcomm out with results after the bell.looking for earnings of $1.22 a share on revenue of $6.48 billion. it's trading pretty much flat on the day. analysts expecting texas instruments to earn 41 cents on sales of nearly $3 billion, and we end on zynga which is expected to lose a penny on sales of $147 million. lots of earnings to report after the bell, and we'll have all of it for you on the "closing bell." back for you. >> can't way. going to be exciting. about 13 minutes before the closing bell. dow jones industrial average coming off the lows, down only about seven points at this hour. >> by the way, a smart viewer pointed out i said we didn't have an all-time high. on a closing basis. we had a new intraday high but failed to close above the high. so we're both right. >> our viewers are so smart. >> s&p in danger of snapping its six-day win streak. final moments are coming up so stay tuned. [ male announcer ] this is the age of knowing what you're made of. why let erectile dysfunction get in your way? talk to youroctor

emc and qualcomm makes sense. it makes sense to come up with a wish list of names that you are interested in and might want to see certain prices on. other names we like, by the way, include symantec and western union. strong balance sheets. ready substantial dividend as well. that is an increasing theme in the sector. >> speaking of deep value, what about hewlett-packard or microsoft? considerably this year and beating the market handedly and both trading at single-digit multiples. opinions of both of these stocks. we did not see the turnaround coming in hp. we do like intel here. we have a buy opinion. we think the are a lot less levered to the pc category then people might think. that is another example of a name we like. another name being hit right now and over the last couple of days is yahoo! we upgraded that stock around $35 a share. it is trading below that. we think there is a lots of potential with the alibaba ipo. we see potential for reducing value related to a turnaround. >> what kind of moves? some

look at a qualcomm. hit a 52-week high today. micron was screaming to the upside and seeing that selling. these are the kinds of days and mike brought it up. opportunity. they've got growth in earnings. they've got growth in revenues. you hit highs. you pull off. a lot of people view that negative. i don't. i think people are selling to take profits there because they are getting hurt in other spots. >> we're going to tie things up with you. give us a thought on which emerging markets you think are the places where we should really be looking. after a couple of weeks of pretty decent gains in those markets? >> i think everybody has been looking at mexico, korea, ba zil is showing signs of real growth again. you speak to locals that don't like it but i think pretty smat people look fog blah bra zil sglan good to so you as always. on a very interesting market day. >>> coming up next, the street applauding micron's earnings and favorable outlook but the stock has given up all of its early gains. what gives? we're going to break that

i'm carrying two hundred and thirty nine passengers disappeared on route from qualcomm port to beijing over a month ago. the stallions in the northeast of the country are breathing a sigh of relief. queensland escaped the worst of a topical cycling was expected to wreak havoc and bring dangerous storm ties to the area. of course like all my debt was downgraded from a category five storm the category one on a sadder day. there were power outages in some areas but there were no reports of injuries. thankfully reports in disguise. nowadays no injuries. let's just keep having this coastline. there is some property damage in the can tho there are rude selfish and one of the pops the sole size of houses that takes up about today which was new and still keeps it going for the critter them critically ruin it. possibly the youngest person ever to face murder charges has been released from police custody nine month old and was stuck on the street after a pakistani judge threw out charges of attempted murder against the baby of the offence appeared in the last floor porch sitting on his grandfath

he took an active part in the battles with japanese qualcomm army in nineteen forty five new homes stalin's order we crossed the border on this night our numbers to create such a great movie. the japanese fled the past three miles without a flight. mining after graduating the institute. so come by to show the boss of dedicated his life to teaching for a long time news director of the school he and his wife rosa had raised eight children. the nugget who buys exhibition was held in austin on twenty nine paintings are displayed at the exhibition of paintings have been the star ornaments and reflect the world's mobility and variability in duncan has become the winner of the shop but international festival the dutch painter van gogh who was in knots works granada is also in lyrical song read the source of the awesome est philharmonic performed songs from the dubai is a talented filmmaker in the industry his movies going to make shadow and color guard became famous and presents them in neighboring countries cover not consider spinning ought to be his main ally commission. you are doing well. i re

qualcomm is up in the last several months.he best position companies in tech are surviving this. companies like yelp that are in more emerging sectors that are really being challenged, that is where investors are not willing to pay in multiples right now. >> in the social networking sphere? >> it is alarmist to bring up 2000. inwere looking at 80% drops the nasdaq, a 50% drop in the s&p 500. to think of 2000, what we saw back then. >> why is it that people are getting pushed so far out? do you blame it all on the federal reserve? >> i think you have to. treasuries are not paying anything. i read one, from an investor and it said, last year the s&p 500 was up 30%. investors thought they were smart again. >> all that matters is we will hear from the big cat tech companies. i used to say you can tell the direction of the tech market by what microsoft and ibm said about the rest of the year. i would add in intel and apple and maybe a couple of other companies like amazon. once we hear what they say about the june quarter and the w

security treaty covers on territories administered by japan including began islands council sense to us qualcomm and supports japan's efforts to lift the ban on disk like in self defense rights of the two sides failed to reach an agreement on the trans pacific partnership agreements which seeks to create a free trade down. japanese officials that the two sides are still deeply divided over key ships and then say although obama i intended to show us a fortune to hand over security issues depending not compromise over its economic interests. us president obama has arrived in south korea on the second maccabees four nation tour in asia. abbas claimed to stand and sell about two hours ago according to the schedule released by south korea's blue house obama and his staff korean counterpart and local cops in the afternoon the us president is expected to meet in business leaders from both south korea and the us on saturday. an area we spoke to our coastline in shanghai on him so he told us this after we as foreign ministry said. if not ill i did switch of disputed over was japan. i subbed a commute for

the maker of this technology, a qualcomm, says said that can triple the speed at homes, offices and on public networks. it is described as the hov lane for internet users. the company plans to sale of the enabled ships to manufacturers or wireless robbers, smart phones, tablets and other electronics. this technology is expected to hit the market early next year. >> it will now cost you more to park in walnut creek. starting today, it will cost two dollars an hour to park at most meters downtown. drivers had been paying a dollar an hour. meters will also be enforced on sundays. there is some good news for drivers. the first hour of parking will be free in city-owned garages. >> twitter co-founder of biz stone will be speaking at the commonwealth club in sampras's go this evening. his talk, and title " confessions of a creative mind " begin at 6:30 p.m.. he will follow that yvette with a book signing. >> cal train will be taking comments tonight on the draft of the buyer mental impact report for the plan to electrification of the line. the plan would require 30 ft. poles overhead wires a

amgen, expedia, facebook, qualcomm, st. jude medical, western digital. these are 10 of 24 names.of those names on twitter @ajinsight. here is why you care. it's real simple. you invest in your business. where did it go? come on back, little friend. this group of stocks year to date -- look at this. here it is. up six point nine percent. versus the s&p 500, up two times. investing your business, ok, and people invest in your stock. adam.nks so much, now to highlight a couple of movers and today's session. barnes & noble. shares of the struggling bookstore chain of fallen the most since june. liberty will hold onto about a 10th of its initial investment chain.bookstore and seaworld entertainment, watching those shares as well. drop in a 13% attendance in the first quarter. the company has been giving deep discounts over the past year. we have more on the markets in 30 minutes. ♪ . . ♪ alexa live from pier three in san francisco, welcome to "bloomberg west" where we cover innovation, technology and the future of business. tensions rise over income inequality in san francisco. march

qualcomm has done it too. qualcomm is tricky. don't trade it off the earnings announcement.nference call stock and wait before the q and a where they give you the guidance, go about a third of the way through the conference call before you know what you're doing. a lot like to pull the trigger beforehand. that's a mistake. >> dow chemicals a winner at the open. beats by 8 cents with 9 cents. higher hydrocarbon costs but 10% drop in r and d. sixth consecutive quarter of year on year profit growth. >> i think they've made a case this company should stay together. delivered the quarter. ppg, which is on "mad money" tonight, they did get rid of the commodity. okay. and dupont is getting rid of the commodity. he's sticking with the commodity. largely a commodity company. but got the seed business, pretty good. >> he's got to produce. it's when load came out with that letter a letter to his fund holders, wasn't a letter to dow. >> good point. >> he missed the deadline already. doesn't mean it won't come around again. so this is not a story that's going away. >> no. >> and if they

we still like names like emc and qualcomm. sawou mentioned that you the 3-d printing stock, these high data stocks, which were most effective i -- affected by what went on. these older tech stocks, the steady growth kind of stocks and stay more away from the speculative names? >> i think generally our approach is focusing on some of those core names. it seems over the last couple of weeks, opportunities have resented themselves regarding some of these other names. concur technologies is a stock that fell from close to $130 a share to under $90 a share. we think that they are doing very well in the travel and entertainment product offering and we see a lot of growth for the company. we upgraded the stock fairly recently. pick your stocks when it comes to some of the higher multiple, higher volatility types of names like occur. >> scott tessler, thank you so much. we will see what tech brings in the coming weeks. we will be on the markets again in 30 minutes. "street smart" is next. >> we are now four for four. stock site way hi

qualcomm to sell mumee more enabled ships to manufacturers of wireless rotors, smart phones, tablets other electronics. emyumimo knowledge is expected to hit the market early. next year. on the tricky name? a stand for multi user multiple input multiple output. >>: it's the most wonderful time of year vacation. but it turns out that more of us are having a harder time disconnecting a pulling ourselves away from the office that we might think. so just how is the average u.s. worker using are not using their vacation time let's take a look. in a survey released this month, the career website glass door found that the average american employee uses only 51 percent of their vacation days. even worse when people actually take time off, they don't really disconnect from work. three and five people admit to doing some work while on vacation. even those who tried to leave their work at the office 24 percent of people said they were contacted by a co- worker about work matter while they're on vacation making hard to disconnect. but what's worse is 15% of employees who aren't paid time off sai

. >> caller: i own goldman sachs and qualcomm and i believe in their stories.specific percentage of decline in a stock would cause you to automatically pull the trigger? >> it's always based on the fundamentals. when i was a trader i used to think down five percent i got to go. i don't want to have it go against me. these days i'm not in a hedge fund. if i do the homework and the stocks goes down i'm drawn to that decline, not against it. i'm not saying you should chase bubbles but if you are going to do it, do it with deep in the money calls. it's not my thing. as kenny rogers tells us, you got to know when to hold them and when to fold them. be ware of companies that blame the customer. stay with cramer. >> a huge part of this business can be boiled down to a simple thing, figuring out where a stock is headed. that isn't always easy. as i'm constantly telling you most stocks most of the time trade on earnings per share numbers. when the earnings are headed lower so is the stock and when the earnings are higher the stock rallies. of course, i said most, most s

>> it is -- drumroll -- intel, though it is a tight race with qualcomm, so will be watching that into close. >> why don't you tell the viewers you forced me to double check it. >> i did. >> to ensure it is correct, but it is intel, called quorum, called coach. >> you're not going to grab anything from me, brian. let's talk google here. 2%, the company is holding a one-day sale for google glass like this. let's get to josh limit ton with more on this, josh? >> melissa, we're actually coordinated today. >> twinsies. >> and you coordinated with your clothes. how did you do that? gray and white. >> totally in sync. >> it's the most talked about device, right? we're talking about google glass. typically, if you want these, you have to be invited to buy the device, but for today, today only, google glass is on sale to the public for $1500, google glass has its critics. they complaint about the design as well as different privacy concerns. fans, though, they say the eyewear gives them a hands-free way to connect with the world and even has the potential to become the all-in-one device. >> th

adobe, microsoft, amazon, qualcomm, ebay, sap, google among them.you don't see sandberg using company aircraft for personal use. there's a lot -- zuckerberg does and they actually account for that specifically. opticswise it's not as egregious even as a company like ibm which allows her family members to use a car service on the company. that's a little bit of a throwback. it's not a lot of money by executive perks standards but still it's an eye catcher. nothing like that here. >> does her stock sale make you think she's not long for the company? >> it doesn't make me think that. look at the rate and i try to track this at which google executives sell stock. apple executives sell stock. it's like they use this as an atm. you got to look at how much of the stock they're still holding. she's got big grants that come up yearly, too, that take quite a while to vest. hers in particular in the ctos are tied to these four-year time trenches that are really designed to keep them there. that's an important part. >> quite a salon chatter about what she could

speaking of nerds, people were so busy focussing on the exci exciting semiconductor holdings like qualcomm, they forgot good old geeky texas instruments, an industrial analog play that merged with another geekster national semi-conductor. so texas instruments climbed four bucks. what else? is anything cooler than biotech coming into the year? anything more out of fashion thanes a ran t s astrazeneca? maybe zimmer holdings that used to be a high growth smoke show but it showed many of the devices are elective and people didn't have money during the great recession so it became horribly out of fashion. how are these two nerd balls doing? many of the companies supported terrific earnings, not astrazeneca, it laid an egg but stock rallied anyway because the quarter didn't throw on the idea of a possible merger. we heard pfizer might be interested in buying them. all there conference call did is suggest that could be reality. no wonder it jumped a buck and change and trading higher. how about zimmer? i saw this thing up 11 oipoints before the opening, you watch that ticker tape, i immediately s

. >> michael, you've got qualcomm and abbott labs on your list.u have been pounding the table on these as much two months ago? >> i was -- i've owned them certainly, bill, for that period, and, yes, i probably would have been a buyer. i like to be a more opportunistic buyer, but with the ball sheets of these companies, with the free cash flow and dividends, you know, part of my job as a money manager is to make sure that my clients have a chair when the music stops, and certainly you look for opportunities as my colleagues are suggesting in some of those names perhaps at times, but these are the kind of companies that get you through tough markets. qualcomm selling at 15 times earnings, growing at around 15% with a 2.2% dividend. abbott labs, great company, 16.5 times earnings, going to grow double digits, i don't think the s&p will, and 2.3% dividend when the ten-year treasury is yielding 2.67%. why not only aaa balance sheet in johnson & johnson. i'm a big fan of getting rich slowly >> in a worked you guy, we've got to go. are boast of you or ei

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know that seems far from now, that's the way i like to think about it, i think you're okay with qualcommflorida. julian? >> caller: boo-yah, jim from palm beach. >> what's up? >> caller: i want to know about my stock. >> we've got intel yielding 3%, going to have a better 2015 than 2014, i'd rather see you in that. >> caller: hey, how are you, jim? >> all right, how about you, nell? >> caller: good, thank you. pleasure talking with you again. give me your expertise on approach resources. >> it needs more sponsorship because those are both terrific. i don't understand why it trades so poorly v. it's a good spec, it needs backing, no sponsorship. let's go to sidney in virginia. sidney? >> caller: boo-yah from richmond, virginia. >> good to have you. >> caller: thank you, i know you never said trade the stocks. but last thursday, one on my watch list fell back tremendously after reported earnings. i listened to the conference call that night, and i think it's a broken stock, not a broken company. i have made a limited order like you said. is verizon a good -- >> i was on that call, too. i t

>> i like procter & gamble, j&j, novartis, tech like apple and qualcomm.blue chip names that pay you more to own them. go with balance sheet strength in this type of environment. i think it's going to serve clients well in a volatile, i think choppy market to come. >> art, do you think this is the start of a bigger selloff to come, or is it just kind of a small blip or rotation, whatever? >> it could turn into a bigger selloff. and we'll know very shortly relative to today if they come down. again, they're headed in that direction and break that 4060. then you'll probably get a secondary round of selling, and then it will become essential that they defend 4050 in the nasdaq to prevent things from kind of cracking open. >> but what would you think is fair value in the market, art? >> well, i would think that we're getting close to very important testing. on another support level, you've got to look at the s&p. 1837 to 1840. it's held there four times. if it cracks there, you'll bring in secondary selling. so you're at some very critical technical areas here

qualcomm is not only breaking through the highs, i think it will explode. >> josh brown, what have youulture etf. m.o.o. >> first day of this second quarter is under way. good one it is. michael lewis is coming up on "power lunch." >>> we welcome you to "power lunch." i'm sue herrerra. >> our guest this hour is michael lewis, author of the new book that has everyone in finance talking and arguing. it is "flash boys." there you see it. beautiful red color which always works for me. michael lewis, welcome. >> thanks for having me back. >> we are delighted to have you back and glad -- you have many airlines you could choose to fly. we're glad you fly cnbc. you say the markets are rigged. that's an inflammatory term. that suggests to me that you believe there is a conspiracy afoot in the marketplace.

this is a company that's moving in the right direction, like qualcomm.nk they both have plenty of room to the upside. >> baker hughes, speaking of upside, is up sharply today after reporting a surge in revenue. the stock, by the way, is in john's playbook, and today's move in that name launches his name into second place overall year to date. there it is, doc. up 5.5% on the leader board. >> yeah, there you go. >> right after terranova. >> and joe is feeling my breath on his neck right about now. >> it's a different story! [ laughter ] >> i'm sorry, i'll call h.r. -- >> that's not how either of us want to celebrate the 25th anniversary. however, baker hughes did have a phenomenal quarter. the oil field service space has been hot, but this is the hottest stock in the space, and i am not selling, judge. >> okay. time for our call of the day. [ laughter ] >> nice pause there. >> a bullish bet on netflix, despite a major drop recently, netflix getting a buy rating and a $500 price target from pacific crest andy hargrieve. welcome back, andy. >> thank you for

i look at microsoft, qualcomm, the chips the way they've been trading, not just today, but consistently as we've been moving up and when we've moved down, that's an area that's continually moving basically to the upside. the reason behind that is, you look at the valuations. they're not overvalued. great cash flows. this area can still go higher. >> steve suttmeier, how much technical damage are we doing here? >> you know, the nasdaq has all of the technical damage. first off, it appears broken, major trend supports. and i think the pattern has shifted on the nasdaq from buy the dips to sell the rallies. i heard some of the panelists before. i think we are seeing mega caps regain their mojo here. so i think they're positioned to do better. >> i'm wondering what you think about by yiotech. one of your counterparts talking about the nbi, looking broke and expecting it to breach significantly. a 200-day moving average. that could be a big negative. i wonder what the overall impact would be on the broader market if, in fact, it does that? >> well, i mean, first off, that is a pocket that's

qualcomm, as well. there are names that are high fliers, being sold. high-quality names not being sole. they can push these down even in markets like yesterday. >> i want to thank kenny and rick for being with us today, as well. >>> our next guest was on with us a few weeks ago, and he was growing increasingly worried about stocks. let's take a listen. >> i think we're on the verge of substantial correction. i actually think that, you know, that despite the fact that i day trade and go home flat every day, i think the s&p's going to go back and test where its old high, around 1,575. now, when it's an all start -- it seem like it's starting to play itself out at the moment. >> larry altman is a professional day trader who makes very large bets on s&p futures contracts. as he said, he ends each day flat with no positions in the markets. welcome back. you're on the phone joining us. we're really glad to have you back. >> thanks for having me. >> so from what you told us last time to where we are told, and where you think we're going from here, what's the

i was trying to understand how your chips interface with the qualcomm chips of the world.r chip is the chip that does the blue tooth component, the wi-fi component. that doesn't sit on the qualcomm-like chip. >> whether it was wi-fi connectivity or cellular, 3, 4g, we'd do the processor and transmit and receive and it would sit on the mother board side by side. >> why are the other chipmakers not trying to be in your business? i imagine they must be. >> no. the distinction is between the digital processing which an intel would do, for example, or a t.i. or analogue processing in the rf. that's what we do. >> tell us what the future looks like in the internet of things. what kind of orders can you tell bus in terms of what kind of chips you'll be making two or three years from now. >> sure, sure. we cut our teeth in the smartphone business. we sell to saple, samsung, every smartphone. the connectivity chips. with billions of devices installed, it's created powerful mini hubs. devices have become cheaper, consumers have become more comfortable with the technology. we're en r

>> apple, qualcomm, these are trading at below 20 times.not widespread across technology stocks. innot the same way it was 1999. >> he also points out that he did not want to take too big of a risk in any particular name. that is why he is doing this. >> a lot of this seems to be on the private side. is whatsapp worth $19 million? >> wait a second. software is ag, service, electric cars. >> tesla is another one. being seen ononly the private side, but let's not forget these are public companies buying them. facebook is using stock. that starts to make you a little bit nervous. >> that is right. >> like aol time warner. the argument makes sense when you read it, but it is not as bad as it was in 1999. you will not see the crazy rise that you will see and and what did not make sense to me, 90% drop? do you really expect to see a 90% drop question mark i could see a correction -- 90% drop? i could see a correction. the way that ipos are performing has changed a lot in the last two or three months. these names that have jumped 30 or 40% in the

qualcomm is not only breaking through the highs, i think it will explode. >> josh brown, what have you got? >> agriculture etf. m.o.o. >> first day of this second quarter is under way. good one it is. michael lewis is coming up on "power lunch." >>> we welcome you to "power lunch." i'm sue herrerra. >> our guest this hour is michael lewis, author of the new book that has everyone in finance talking and arguing. it is "flash boys." there you see it. beautiful red color which always works for me. michael lewis, welcome. >> thanks for having me back. >> we are delighted to have you back and glad -- you have many airlines you could choose to fly. we're glad you fly cnbc. you say the markets are rigged. that's an inflammatory term. that suggests to me that you believe there is a conspiracy afoot in the marketplace. are you saying that and if so, who are the conspirators? >> the book is pretty clear about all this. i think it's an accidental conspiracy. i think accidental -- this sort of unintended consequences of regulation that was introduced in 2007 created this really screwed-up market s

last month, where he met with executives from qualcomm, microsoft, and amazon.osen by swift federal railways to supply markets and tablets for its ticketing and facility checkup circuses -- services. no word on how much the deal is worth to samsung but they are sure inking deals left and right. we heard about netflix and amazon producing their own television shows, but now microsoft's xbox unit is doing the same thing through unit called x box and in him and studios. a unitichman -- through called xbox entertainment studios. jon erlichman has a closer look. >> microsoft is putting its tv future and it is tied to this. xbox entertainment studios is a unit of xbox created to make original tv shows. >> this is a startup with the help of microsoft. >> led by a longtime hollywood executive, is developing all sorts of shows could a steven spielberg-produced "halo" ser ies, live coverage of the bonnaroo music festival. will fire up your xbox and if you are one of a 40 million members of the online entertainment network xbox live, you might be able to stream xbox origin

eminding you >> momentum leaders then, qualcomm, they leapt out in january of 2000.trend here. investors rotate the bellwether names and that supports the index. that is what has been going on. they will exit those bellwethers and we will? see a bigger meltdown ? >> i think a meltdown is a strong word. >> we had a meltdown in 2000. >> were melted down at the end of the year. it is one of those things where it is not healthy action for investors. it is something to be aware of. investors are becoming more cautious. those leaders who have been leading the market, their trends are broken. >> you do not like any sector. you want to play defensive. you do not like health care. >> i do not. it is a great example of what has been going on in the market. healthes acquire another care company, reincorporate overseas in ireland and they get a tax arbitrage. gains over the past year. they have acted like a momentum and are part of that group. >> we are not talking big pharma. you have a bullish take on health care stocks. fargo has shown a persistent recovery in earnings growth

is it a qualcomm story as well?mm -- we had a very good case this morning on "squawk." i liked the chip. i like the chip very much. but i'm just stunned that an apple buy deutsche bank means nothing. where have the buyers gone? >> you wouldn't have said that a few years ago. one of my favorite headlines in "usa today" was don't miss, companies for whom earnings expegations are high. they named southwest. delta. netflix. hasbro. talk about pressure, right? >> yeah, i read that. and i think delta's numbers are going to be terrific. i think southwest is going to be very good. i think facebook's are going to be excellent. netflix doesn't trade on earnings. >> what's on "mad" tonight? >> we have the founder of the vix, going to be high frequency trading discussion. we can't lose sight of that. that's important. the hottest stock of the market is the stock called cheniere energy, with the symbol lng. we have been behind this stock from $8 on "mad money." it just hit $59. and charif souki is a fascinating man and there's a

i really think the old guys, it's microsoft, it's apple, it's companies like qualcomms and intel, oracle as well in the software space. those type of companies. and then in europe, we're betting on european banks as moving out of the dark ages now and beginning to see the earnings recover. so we're bullish in that and also european stocks. >> now greek equities very expensive. it's interesting. so your big call is russia is a screaming buy. greece, get out of? >> exactly. we're almost 200% now from the bottom since we had really the low point. if you look at the valuations, greek equities are valued at higher multiples than south korean stocks. to be frank, if you look at south korean economy and the government structure, the companies that you can really buy in south korea, they're so, so superior to the ones you can buy in greece. i think it's a very easy choice here. it doesn't make sense for greece. i don't think that's where you get the value. >> good to speak to you. thanks for that. have a good day there in copenhagen. he joins us from saxo bank. >> greece's returned to the bond m

out of the close, we'll hear from the likes of apple, facebook, qualcomm, texas instruments and zynga>>> bill ackman reportedly promised to pay a former herbalife whistle-blower up to $3.6 million. ackman has paid him $80,000 since he left the company in 2011. he lost his job with the u.s. dry cleaning chain last year. ackman tells abc news it was the right thing to do. ackman unveiled a $1 billion short position against he herbalife, accusing the company of running a pyramid speed. >>> allergan is adopting a defense in the wake of the $46 billion hostile takeover bid by rival drugmaker valeant and ackman. ackman currently owns a 9.7% stake in allergan. they are currently looking like this on the stock market. allergan in france trading lower to the tune of about 0.9%. valeant pharma bouncing 1.5%. >>> on a programming note, bill ackman willing on u.s. xb can be this morni -- "squawk box" this morning at 7:45 eastern. >>> carl icahn may be one of the most recognizable activist investors. he wants the practice to continue well into the future. in an interview with cnbc's david farber,

qualcomm sold off. that stock continues to move higher.st night talking about altera. >> zach. >> there is a difference between missing revenue expectations and not growing revenue. way too often we talk about that as if authors the same things. >> right on. that's fine. what's revenue growth been? my sense is revenue growth is 3.5%, 4%. eps growth closer to 9.5%. that's way too wide for me. you know i'm right on this one. financial engineering gets you so far and it's done great. you want to talk about rigged markets, yeah, the market is somewhat rigged by companies again, financial engineering, buying back stock, all those types of things and you have this over accommodating fed. to kevin's point you're not getting ripped off it's the cost of doing business in 2014. >> i would have rather seen this company grow at 10% and miss earnings because they were caught outside. that would move the markets. that's not what happened. >> we'll leave it. catch guy adame with the "fast money" crew. alcoa's earnings as well. coming up next, klaus klein

it has a quad core chip inside it from qualcomm that allows you to play video games, do stuff that'sly intensive at high resolution. it's got fast wi-fi which you want in a box like that. but it's 99 bucks which means it's the same price where apple tv is now. the question becomes from, you know, this sea of different gadgets we have now to stream video to the living room, which one is best? part of it will come down to content. they pretty much all do netflix. this one does as well as hulu plus, vimeo, several other channels. espn was in there and said this one does a good job of streaming hollywood f hd for a long time. what is amazon going to do to make this stand out even further? if you're not into gaming how will they push it beyond amazon.com? right now that's the only place you can order this thing. of course, we've still got a few months to go before the holiday season and we still got a few months for apple to roll out the next phase of its content strategy in apple tv, whatever that happens to be. remember, tim cook said just a few weeks ago apple tv was a billion dollar b

wednesday, we have f5 qualcomm, apple, facebook and zynga. all on the same day.on wednesday. we're going to get a really good look at how big techs that are making money are doing, little techs that really aren't making money are doing and grow stocks. i think once we get that look we'll have a better sense. >> jon, i think you were being polite. these earnings were lousy. look at ibm today. the bar is getting lower and lower as we get into next week. we call it the passover market because earnings are passing over everyone. >> passover is supposed to be a good thing in this context. intel wasn't laughing. >> while i'm looking for something punchy, jon, in this sort of value growth debate, isn't that really the story right now in technology? i did a story today on this sort of slackening in the growth areas, specific live the russell 2000 and certainly the nasdaq composite and how that's kind of taken a lot of people by surprise in terms of the sharpness of the twists and turns in the market as well as overall declines. in terms of tech, aren't people going to fa

market volume is different now versus late 1990s. 1990s saw a narrow set of the market, you had qualcommdriving higher. you had the whole internet and the digital elements driving the markets. i really think the market in technology is separated these days. there may be elements but it's not clear. >> you couldn't have two situations in 15 years without learning something. as long as we're all talking about it at this point, too, it's unlikely that we're calling on these things, when they're going to burst in 1999. >> you have health care, that's a moniker. the biotech valuation is extended, certain type of investors driving those stocks higher. the other part of the market, health care broadly, hanging in there. good free cash flow. >> the infamous henry, he talked about it back then. these were pieces of crap that we were selling at infinity times revenues. >> yes. >> back in the mid-'90s. we weren't talking earnings. you didn't know if they were going to make any, or even revenue. i remember some of them. can you point to anything like that at this point? >> sure. there's people who a

qualcomm is what we like.ontinued demand for wireless services. >> the number of companies with a beg ratio, they are only expensive if you ignore the fact that the growth is going to be good. >> gentlemen, good to see you. thank you. thank you, david. drew and jonathan staying with us the rest of the show because they are guest hosts this morning. >> there's two drews. >> yeah. >> coming up, reaction. >> oh, you're right. >> i always wanted to be a drew. >> i'm just a nickname. >> with your permission, i will call you drew. >> he has more optionality in his name. we head to a break. check out the "squawk box" market indicator. we do have some green arrows. n . [ male announcer ] this is joe woods' first day of work. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good pe

you know, if i bought tesla three or four years ago or if i bought qualcomm, i'm a happy guy, even ify more before i bought it. and i'm still happy. we can't lose sight of what's good for real investors, not just what rules ought to apply. >> you should save the word rigged for when -- i hate to keep talking about s.a.c. capital, but if you have guys out finding out from doctors that a drug trial is not going well and you know before anyone else and you're able to short the stock, that i would use rigged for. this doesn't rise -- >> penny stock manipulations. >> quick to call jordan belfort a wall street player when he was nothing more than a criminal. and we make a movie out of it. i want george clooney to play me in the movie after i rip off old people and get to go to oscar parties and have starlets asking me for an autograph because of you. >> because of me. >> richard, thank you for joining us this morning. >>> coming up, bravo's tv version of real estate. you know this guy? he's amazing. >> fredrik eklund will join us. >> he's one of the stars is of "million dollar listing new y