not going to be great, why, because schlumberger have told us it's cut throat. of late, it means nothing to jeffrey immelt, the ceo of

schlumberger, the best of breed. i like this way you think. >> let's go. >> well done.l done. [ applause ] >> hi jim, my name is alex. i'm a junior from san francisco bay area. >> excellent. >> i want to talk about today is ebay. >> it's tough, isn't it? it went down again today. give me your take on the quarter, because a lot of people were so worried about europe. >> i think the concerns in the short term quarter two over europe and the currency effects are short sighted. i think it presents a nice buying opportunity to get in a stock that has compelling growth, opportunities and strong fundamentals. >> pay pal, worth the price of the stock? you have to believe at a certain point they have this great marketplace business and pay pal, if they were ever to split it off, i think it's worth more. >> i agree with you. i like three catalysts going forward. they're just starting to expand into emerging markets. i think if they can tap into the underbanked population, that can be good for them. two, they are starting to capitalize on that now as mobile becomes a bigger presen

not going to be great, why, because schlumberger has told us it's so cutthroat.f late, it means nothing to jeffrey immelt, the ceo of general electric who last week penned a piece on linkedin entitled game on. shale gas could ignite manufacturing, lead to energy independence, end quote. i expected ge is going to do much more buying in this space because of its multiple prongs. everything from ge locomotives which are tested with westport engines to the natural gas turbines which so many utilities are switching to. along with the new global research center in oklahoma city, they're creating state of the art technologies to harness this energy. what will ge do next? let's see, they had a stake in the artificial lift business that lufkin dominates. they have stakes in pumps, cng technologies as well as water management technology. given that lufkin extended ge's exposure to lifts what could extend the rest of ge's reach? first i'm thinking fmc technologies which makes processing technology along with fluid control equipment. natural fit, natural compliment to ge's e

halliburtons, the schlumbergers, the companies providing the tools, the picks and shovels to help buildout this nation. we think that is a going theme. we think the government will be focused on it, having energy independence somewhere within the near horizon sights. so, development of our resources both, within the united states and perhaps even our partners in mexico and canada is likely going to be an ongoing theme for those companies. ashley: what kind of a time frame are you talking about, jason. we know regulation ties up a lot of these things in the courts? is there a shorter-term play that shows a lot of what you would consider upside potential? >> i wouldn't necessarily mark this as a shorter term theme. there is really two benefits to this. one, there is about 20 basis point left for economic growth for investors broadly. so all investors are participating in and benefiting this to a small degree. more specifically those energy service providers can feel more specificless. as far as short term plans, look this is a long-term theme. we're talking five, 10, 15 years. this is ongoin

ohmowners heeleding their breath hoping orders won't be kansd as we wait to hear numbers from schlumberger. and intellectual property service king coral labs. how about the mineral and mining companies and the equipment makers who supply them? can analysts cut the numbers fast enough there for freeporter qatar pilar? the former makes copper which i gather from the stock price isn't being used by anybody anywhere, not just pennies. then again, wait a second, they seem to be not using aluminum either, judging by the price of alcoa. it is all about the haves and the have nots. and all that's happened during this down turn is that the distance between the two has become wider and the gulf deeper. here's the bottom line. on days like today we just need to break out the list of thes have, the companies that can do no wrong to know what to buy, and the have nots to know what to sell. one day the have nots will get cheap enough to buy. but in the interim i'd rather swim in the love canal, bathe in sherwin williams paint, and drink spent fracking fluid than try to catch the bottom in the have nots.

. >> and the energy story, maria, another group that we've talked about, schlumberger, baker, halliburtono own these. mexico can't get to the oil or the oil shale without these companies. and the same with the united states. you won't believe this. mexico actually aborts natural gas from the united states, even though they have tons of it. >> let me come back to the here and now for a moment. this market is on fire. you have to be impressed with what's going on here. down 41 points on the dow jones industrial average, having come back from a sell-off of 140 points, a day before the earnings parade begins next week, when we know the earnings are going to be just okay, 0.6% growth or something. >> are we too complacent here, kids. >> expectations are really low. and as we talked about before, the pillars of growth, of the 2% growth that we're seeing, those stories remain very much in tact. that's housing and that's some of these selective industrials that we talk to some of these selective manufacturing names, and again, consumer. and i think if those change materially, and if those compani

we like technique in europe and in the united states, we would be looking at names like schlumberger and hughes. >> what is going to happen in production and oil and exploration? >> the exploration spin is going up significantly. the majors aren't necessarily growing production, but when you look at production growth coming from nonopec countries, that's a good thing for western service providers. >> and there are more companies that shell is looking at trying to do a deal with russia, as well, getting into the russian arctic. the nature of the oil business is you have to deal with difficult partners in difficult places. are we going to see more coming out of there? >> the arctic is potentially huge, but it's a post 2020 event by the time you see oil production there. you see a lot of investment put up there by not only shell, but exxon ask stat oil to name a couple of others. but that's spinning today. >> jason, thanks very much. >> thank you. >> now, this has to be one of my favorite times of year, the first major golf tournament of the year, the masters, gets under way at 8:00 a.m

i still think that baker hues, schlumberger, transocean, we should talk to our friend carl icahn becauses something to happen with transocean. >> it's interesting, jim, we both kid about m & a and they may not be predicting an avalanche, but when they do talk about an area of activity it is energy. they come back to it time and again. >> whiting petroleum was upgraded and we have these companies at natural gas at $4 that are worth more. you see another capital oil in gas and they talk about eqt. the plethora of companies in the natural gas patch and i'm not going to talk about chesapeake because that's generous, but there are a lot of companies in eog has written off natural gas. don't forget the pipelines are the biggest job creators in this country right now. i know they transport fossil fuels. >> you were talking about trying to find a hotel in one of the shales. >> it's impossible. >> you can't find a hotel. we have to stay at massalynn, it's a small town. you can't book a hotel room in this utica shale because there are so many outsiders and there are parts of the shale that are oil