look at shares of sandisk.ting hit today after the flash memory chip maker forecasted a steeper than expected fall in sales today. fell two-thirds percent. it has to cut jobs. sandisk memory chips. what are they used for? smartphones. digital cameras. laptops and those little memory sticks. by the way, sandisk's stock. tough year. lost more than a quarter of its value this year since saying in january that it had lost a major customer. they won't say who it is. it's widely to believed to be apple. it changed at 67.77. tough day for sandisk. remember, it's almost a commoditized company. shares of etsy are going gangbusters to the upside after pricing at $16. shares of this open marketplace for craft. like handmade necklaces. shares shot up 120% earlier today. the stock now up more than 80%. will investors appetite grow for the handcrafted seller? what do the sellers themself have to say about the ipo? jo ling kent has the latest. i find necklaces there you may thall the time. >> a lot of sellers made it availabl

sandisk at the lows of the afterhours session. dom chu has the details. >> we're down 3.5%, 271,000 shares of volume on the flash memory maker. sandisk reporting earnings per share of 62 cents. that misses analysts' estimates for 66 cents a share. revenues coming in just about in line, $1.3 billion worth. the company in its release did say that they are disappointed with the financial and operational performance and quickly taking aggression sif measures to regain the excellence in execution they've rediffer delivered in the past. the conference call started at 5:00 p.m. so it's ongoing right now in the initial stages. obviously as this kind of moves the stock, we'll brings you any market moving updates. you can see 3.7%, losing some steam in the afterhours. back over to you. >> thank you very much, dom chu. the context of this, the company had already taken down revenue guidance, had postponed indefinitely an analyst meeting that had been scheduled for may. it is coming out beating on revenue but the eps was a big one. it was dow

take a look at sandisk, obviously the biggest laggard for q 1 today.gest gainer on the s&p. >> sandisk's entire business isn't broken. a lot of analysts trust it's just broken in the company. they have a strong position in flash, and you're optimistic about the back half of the year and all of these things, watches, phones, selling, then you have some reason to be optimistic about sandisk longer term. >> health caret actually the worst performing sector today which is against what we saw in health care and biotech among the best, up 15% in the first quarter. we'll see if investor demand keeps going. >> finally, twitter, we mentioned earlier in the hour, jeffries did initiate, price target of 65. periscope pairing up with the overall trend of video online. i didn't realize 30% of global ad dollars will go online this year. up from 25 last year. we're starting to get into some serious percentages of global ad spent. >> big pot of gold. >> let's get over to wapner. that does it for "squawk alley." wapner at the half. >>> carl, thanks so much. welcome to "

but no sandisk. >> you're emotional about sandisk. >> i am. >> moron and idiot.te harsh. >> welcome to my world. i'm emotional about the flash memories. i motional about d-rams disc drives what i focus on. >> it's passion. >> i focus on big things. >> some big wage hikes coming to mcdonald's hiking wages for about 90,000 of its workers. starting july 1st. the fast food chain will begin paying employees at its u.s.-owned restaurants $1 over the local minimum wage that will lift the average hourly rate from 9.01 to 9.90. hikes do not apply to works at 90% of restaurants operated by franchisees. what steve easterbrook said on cbs this morning about the reasons behind the pay raise. >> ultimately to drive the turnaround we want to deliver better customer service day in day out in our restaurants, motivate teams, you can retrain the talent motivated teams in restaurants typically we'll see better levels of customer service and that will help us in the competitive environment we're in. >> big full page ad in the washington and "usa today" acknowledges that a lot of peo

if you own the ip, that's why sandisk has done so well and intel is already good at ip and i think theyout what they're going to do in the programmable semiconductor business, that's going to be important to their fab business going forward. and how many more businesses can they go out? what are they going to do about mobile besides subsidizing the tablet business that hasn't really generated income for them. do they see that changing in the next year or so? >> you know this debate going on with qualify ccomm split away f the licensing and manufacturing. that's interesting, where does the manufacturing piece go? would that be a good candidate for intel to merge with? >> qualcomm doesn't have the manufacturing, but if they were to split off the licensing business -- i'm not sure. >> when i want to get exposure to mobile, i buy qualcomm because they're ubiquitous in everybody's device. it's been a fantastic stock to own for a long time. >> if you could put those two together, could you rule the world. >> now we're talking. look, we drift it up right here today. >> finally check out zillo,

sandisk has fallen behind. want to own sandisk, but enough with this second-tier company if they can't beat the third guy, you know what? just forgot about an analyst, go find another horse to bet on. >>> jetblue, by the way, almost 20 bucks now. airlines are turning into an interesting story. we got the results of the annual airline quality rating. phil lebeau is at chicago's o'hare. good morning, phil. >> good morning, carl. we have the top and worst rated airlines among the 12 that are rated by wichita state university and embry riddle. at the top of the list virgin america, followed by hawaiian delta moves up to number three, rated as the most improved and jetblue at number four. converselity bottom of the list three regional envoy/american eagle as the worst, express jet, skywest and at number nine the worst rated full-service nationwide airline is united airlines. you might be saying to yourself there you go. if you had united as an investor, would your performance reflect that? no united versus virgin am

, that stock, sandisk made a nice move today, $2.35 or more to the upside.imilar, very strong up move and there's some rumors swirling about it. we'll see whether or not those end up playing out in the week to come but a lot of this was very short-term trading, kelly. they're not betting long term. they're betting right now. >> we'll see new a few minutes, dr. j. walter, the last word here. i wanted you to answer what evan just raised. ultimately, do you believe that america has something special, differentiating about it that makes this country a compelling investment despite all the other portfolio managers telling us they're betting on japan and europe this day? >> i agree with evan. there is an exceptionalism in america and you especially feel it on a sunny opening baseball day like today, but what it is is that we define markets. we create new things. take amazon. amazon totally created a whole new market. now, alibaba is going to come in and be a really strong player. so what we need in the united states is that ability to say, okay, what's next? wheth

now sandisk missed forecasts as it fell on restructuring charges.full year revenue decline as it struggles to meet demand. it plans to cut about 5% of its nonfactory jobs to reduce costs. shares fell about 6% in after hours. >> goldman sachs reports first quarter results at 7:40 a.m. eastern. forecasted to earn $4.26 a share on revenue of 9.35 billion. they will also focus on the trading business after jp morgan reported a 9% jump in trading revenue. >> citi group reports q-1 numbers at 8:00 a.m. eastern. forecast to earn $1.38 a share on revenue of $19.8 billion. last month citi's cfo warned trading revenue would be down and the bank suffered a modest loss from swings in the swiss frank. well the market is hopeful but the results will be good. citi group in the green. goldman up the best part of 1%. >> the debate over whether the fed should raise rates in june continues and this time around it's jeff lacker that says a good argument can be made for raising rates at the fed's june meeting. lacker says even though there's signs economic activity has

a lot of people were prepared for a rough quarter out of sandisk. >> blackstone, as well. sell out some of its private equity holdings on real estate. assets under management grew overall. more than doubling a year ago. paying out 89 cents a share for the first quarter. you are getting a dividend there in excess of 2% just for q-1. assets under management higher on a year ago despite the headlines you might see. raising $30 billion of new cash for investors. partly for real estate and of course you wonder whether blackstone is a big player. >> he said we are an earnings machine. talked about the ge deal which fell apart a couple of times in the process over a few weeks. said this is not the picture of someone picking someone else's pocket. >> right. they want to make that clear. i did some reporting on that as well. it does appear ge moved with fairly deliberate speed. blackstone was not aware it was part of a much larger announcement, which we spent a lot of time on friday discussing. mainly more or less the dissolution of ge capital overall from ge. they did move quickly

i still like sandisk. i think it's oversold. kathy, let's talk about that.t do you think takeovers spark the market or not, we saw a few billion dollars yesterday. i would -- a lot of the names you follow fit that category. some names at the top of your list. >> in terms of m&a. one today. link infor $1.5 billion. (?) that's in the learning skills department, retraining and so forth which we'll desperately need because of robotics. you look at cornerstone on demand, $1.5 billion caps. doubled in sales. csod. training. charles: anything you see in that whole realm. i don't see you as a guy who buys a stock that can be taken over. you woke up, they've been acquired. >> i thought this was going to be about data. i looked at the highest data. charles: go with beta. i'm seeing the high beta names. whether it's the swks. as many these other names. >> those are great names. the name i brought with me was carnival. you talked about it in the past. 2.5 beta. pretty high beta name. last year was good. yields are up. fuel is in their favor. i think it's a good name. an

sandisk is down so much it's going to get a takeover bid from western digital. know it's so bad, it's good. >> i mean on qualcomm they did not get the benefit from that enormous share buyback that i believe they hoped they would in term of the return of capital of the shareholders. people were well aware that the relationship with samsung had become much more tenuous. >> that's true. so it has. >> they did settle china. that was a huge, huge thing for them. i think the company in terms of its approach to its future really needed to get that done. it was a big number. the question is how many other things are they going to be able to sell chips to. >> i just can't go there. i want to change my prediction. i no longer think it's going to be wisconsin. i think it's going to be duke. because duke announced a big buyback. >> you're going to confuse our viewers. >> 68 years old. he is even better destroying the stock. look at that. d-u-k. >> you can spell it any way you want. >> okay. >> one of several names, yielding 35 or more. duke verizon, teague. >> well this mor

. >> so this is a sandisk specific?esterday we were talking about the chips because of intel. >> intel, right. you're exactly right. micron certainly has not traded well either, so that space right now is definitely under pressure. >> we do have about three hours to go in the trading day. we also have about a minute and a half to go in this program. let's get your trades for the second half. josh, what are you watching today? >> one thing that i think is a really interesting feature of the market this year and it's continuing even on a day like that, expensive growth stocks are winning. they're actually crushing the market. the median stock in the s&p 500 is a pe ratio of 21. stocks that have a pe ratio above that on average up more than 5%. stocks with a pe ratio below that median are actually flat on the year. that tells you where the gains are. there's no sign that that trend will abate. growth stocks doing really well here. >> i want to pull up goldman sachs, guys, in the control room if you can do that for me. knoc

. >> we mentioned netflix tonight, sandisk, the other earnings we're going to watch, worst performer in the s&p in the first quarter. that does it for scott ail li. let's get over to scott wopner, halftime at hq. >>> hi carl, thanks so much. welcome to the halftime show, our starting lineup for today, jim levanthal the president of asset management. josh brown is the soer of ridholtz wealth management and john and pete najarian are the co-founders of option monster. under fire, why former yahoo interim ceo ross levinson says marissa mayer may not be long for the job and what the company needs to do to survive. >> oh my god. >> sizzling stock, as shake shack shares surge on apparently no news. who else but josh brown is on the case? we get to the bottom of this burger breakout. >>> we're going to get to ross levinson in a moment. but first having a good day in the markets today. following an outlook fund-raiser intel that wasn't as bad as some had feared. and especially the big jump in crude oil today. carl just telling you about that as the end of "squawk alley." josh, crude is up fi

meantime check out sandisk, shares slipping after the company posted the first quarterly revenue dropyears, said they plan to cut jobs by 5%. when we come back. the european union explaining its decision to open an antitrust case against google. we'll talk to the eu's competition commissioner in the first on cnbc interview. look at how some of the big ipos are trading today. etsy leading the pack. gaining session highs, up 120%. man: you run a business. could be any kind of business. and every day you've got important decisions to make, like hiring. where are you gonna find those essential people you need? with ziprecruiter, it's simple. we post your job to over 100 job boards with just a single click, so you can reach millions of qualified candidates. then we'll give you the tools to help you manage, screen, and rank your applicants, all so you can find the right one. try zip recruiter for free today. >>> the urmen union commissioner on competition who announced bringing the formal antitrust charges against google talked with our own sarah eisen and she squloi joins us in washington

maybe don't need any introduction, sandisk shares are down 6% over the course of the past week and another on the semiconductor side of things, they're down as well. down 5.5%. those are the best and worst performers where the action has been. looking to next week, we've got a huge swatch of earnings in the technology sector. 21 companies in the s&p 500 technology sector are going to report their earnings, monday you got big blue with ibm, tuesday, yahoo, facebook, qualcomm and ebay report on wednesday, thursday, another big day, google, microsoft, amazon, all three of those report thursday. friday, xerox reports, a tech company believe it or not these days, all these guys among the 21 stocks, carl in the s&p 500 technology sector slated to report earnings. so if you thought this week was busy, if you're a tech investor, next week is going to be big. >> christmas in april. four times a year. those earnings are enough to make your head hurt. especially we'll be thinking once again what business would have been like without the dollar as strong as it is. >> it might have been like halloween

sandisk the company forecast falling short of estimates. it cut its revenue forecast.ing on a stock. alix: we also have some breaking news coming from schlumberger. the company announcing another 11,000 job cuts. the company already said it would cut 7% of its workforce, 91 hundred workers. it is going to cut another 11,000 jobs. the oil price has slid and hurt oil services companies. spending on exploration and production services could be cut by $114 billion this year. the company saying it will cut another 11,000 jobs. shifting to the fc ipo -- at etsy ipo. the company faces a new challenge, how to stay true to itself. joining me now to discuss is katie, a bloomberg columnist, and alicia schaefer. what do you think? up 90% today. what is your reaction? >> we will see how it plays out. i'm excited to see what it will mean for us and being able to get additional support frometsy as a business. it will be interesting to see how it plays out. alix: a history of operating losses and we may not achieve or maintain profitability in the future. at what point do shareholders

. >> we mentioned netflix tonight, sandisk, the other earnings we're going to watch, worst performer quarter. that does it for scott ail li. let's get over to scott wopner, halftime at hq. >>> hi carl, thanks so much. welcome to the halftime show, our starting lineup for today, jim levanthal the president of asset management. josh brown is the soer of ridholtz wealth management and john and pete najarian are the co-founders of option monster. under fire, why former yahoo interim ceo ross levinson says marissa mayer may not be long for the job and what the company needs to do to survive. >> oh my god. >> sizzling stock, as shake shack shares surge on apparently

sandisk following suit micron's earnings with a lower forecast, not very upbeat either.bit and then got picked up by speculation of an intel-ontario deal -- intel-alterra deal. i'm looking at the possibilities that things slide again at the m&a wears off and as we head into earning season which peaks next week with intel reporting before april expiration of the options. scarlet: give us your trade. max: the smh, intel is a major weighted stock. the april 54 calls for .45 cents seem like a cheap way to get a high impact earnings concentration. scarlet: you profit if the etf falls but you do not lose money if it stays where it is. max: the most you lose is the premium you pay. scarlet: max breier joining us today. "money clip" is next. ♪ pimm: welcome to "money clip," we tie together the best stories, interviews and video in business news. i am pimm fox. the oil megamerger is back. royal dutch shell will buy bg group in the biggest deal in more than a decade. around the world, vladimir and alexis shake hands in moscow. a subtle or not-so-subtle message to european leaders.

we're counting down to earnings from not only netlist but also sandisk, plus jack lew speaking abouta, and iran. a lot more coming up. stay with us. ♪ alix: welcome to our viewers around the globe. you are watching bloomberg television. i am alix steel, and this is "street smart." moments away from the closing bell intel forecasting improving demand for data centers, and counting down demand from netflix and standards. us, secretary jack lew speaking to bloomberg about greece china, and iran, but for now let's get to bloomberg's chief market's correspondent scarlet fu at the news desk, looking into the action. scar? scarlet: when we talk about stocks, they have been stuck, but they have been steadily grinding higher. as everyone anticipated the start of earnings season. the s&p and dow have managed to notch and six days, and the s&p got within 1/3 of matching the record high. the dow is about .7%. volume ishas picked up as earning season has begun. we are seeing a trading pickup by at least 12% from a 10-day average. energy stocks were far and away the best performers in the s&p 500

. >> the second stock here melissa is sandisk. it's getting downgraded left right and center.ell. the price tag was cut to 60 bucks from 80 bucks. it's scently lycurrently sitting there at 66 66.60. >> they had taken down to revenue guidance just about a month ago. this stock has been in a world of hurt since then. raymond james pounding the table ahead of them due on april 28th. the analyst saying the intraquarter data -- but raymond james is sticking with its market rating because shares are priced at a premium to its growth peers. >> this is hersheys. the stock was removed from u.s. focus list with analysts noting the week environment. however, the buy rating remains the same. the price tag in here is $120. so sitting there at 99 and change. there's still a fair amount of upside to get to that price target. also, city was seeing some reduced growth at the moment. but they see those gross margins reaccelerating later on. >> yeah. and the company's already affirmed full year guidance. it could be in good shape for the rest of the year here. talk about high flying bio tech. in

shares of sandisk leading the chip sector to the up side. priceline is another big winner. that stock is up by about just 2.25%. it's good for about three-quarters of 1% gain on the market today. here are some of the big winners in biotechs. exelixi. if you look at that chart, it is all green today. >> lots of gens in there, kayla, thank very much. the president of the new york fed, bill dudley spoke this morning. he is the first big fed guy to speak since last friday's less than stellar jobs report for which steve liesman was here. working on friday on good friday. >> it's going to be important to determine the softness, whether that foreshadows a more substantial slowing in the labor force than i currently anticipate. >> the march labor market report is another indicator that the first quarter is likely to be quite weak. >> it could lead to further decline in investment and it could mean a meaningful drag on economic growth. dudley gave no explicit hit on how the weak jobs report would affect his outlook on when the fed should first hike rates. the first time in nine year

. >>> sandisk, they warned that the stock did fall 20%. the current quarter was absolutely terrible, which is why the stock is feeling pressure. cutting the stock to neutral from outperform. the price target goes down to 65. 65 is a level the stock opened at this morning so dead money is the call here. >> i will see your $65 call and raise you this. btig, i think yesterday, melissa, came out with a price target of $47. >> ouch. >> $20 below the current price, concerned about lower revenue and lower margin estimates. >>> all right, stock number three, ptc therapeutics. big call here up to an outperform. their target spikes to $120 a share from $70. that's another 70% upside from here. >> yeah, this is a pretty bold call because not only are they saying 70% upside but specifically the analyst is saying to buy ahead of data that would be released in the fourth quarter on its muscular dystrophy drug. >>> stock number four hiking estimates on the price target to $82. the analyst is turning incrementally more bullish after seeing more customer a