the cheapest one in the space is symantec. you ask me how to play et, palo alto first, symantec second. fireeye third. >> the key to that story was i think the cash flow burn is becoming less extreme. this is a company that everyone knows there's tremendous competition around him. i think it's interesting. i wish i had bought it yesterday. >> the okay. >> fireeye was the one going into the earnings that i thought would get to 40 and that's where he pulled back. i'm hard pressed to go out there and buy it first thing in the morning. i wait for a pullback. >> next up we've got alibaba falling slightly here after hours after saying that the s.e.c. is requesting information on regulators. alibaba says it's complying and being transparent on that request. earlier alibaba's executive jack ma giving a reality check in a letter saying not to accept the typical red envelope bonus check for the upcoming chinese new year. quote, alibaba group has not had exceptional results and not had any special surprises. as it was the result of all o

>> even credit cards. >> so symantec brought its security force in from all over the planet, any can i ta is from

>> even credit cards. >> so symantec brought its security force in from all over the planet, any can i ta is from india. >> so are you hacking to beat hackers? >> yes. >> and the hospital setup is no joke. while your data is the vulnerable every time you so much as step into a pharmacy they know hackers are trying to get inside hospitals, too. >> devices are connected to people. so drawing a connection between physical danger to cyberattacks is something that isn't that farfetched. it's not science fiction. it's possible. >> possible enough symantec is developing this portable security operation center to bring security closer to the scene of the crime. fighting cyberattacks with cyberpower to keep your data safe. according to dell a typical credit card number will get about $2 on the underground market. health care information more like $20 per person. back to you. >> all right. thank you very much. let's give you more details. why is this medical data so desirable be? aside from what scott said the answer is money. a medical insurance profile is hes for up to 20 times more than sim

what they see inside cyber space much like what you're talking about with the she tech world. -- symantec world. they can market, they can sell. there are things that the government sees that may be more public in nature, kind of like the national weather service can see that snow is coming and make a prediction. >> uh-huh. >> i think this all works together. there's plenty of room for the public side to infer and see things and talk about and share what they see a. there's plenty of space for the private sector to infer and analyze, sell that information. the things actually work together quite nicely. but we have to be -- and this is the thinking question -- what's the model that we're using here? it's not atmospherics. that's what we like to look at, but that's not what it is. there's something else. or do we need to develop a new model that's very compatible to public sector, private sector working in our lanes doing what we do best that comes together in this magical thing that we call information sharing where we all are doing what we're best at, and we amplify what the private sect

devin fehely, kpix 5. >> this is the fourth year that symantec has held its cyber war games. last year's theme was a mock attack on the banking industry. >>> trouble today at an east bay middle school. five students were rushed to the hospital after sharing some pills. it happened during fifth period at albany middle school. a classmate says a girl started acting strangely and then raced out of the science class. there is no word on what they took. but the school superintendent says it is a teachable moment. >> we definitely want them to know that taking medication that is not theirs, taking any kind of, um, pill that is not prescribed by their doctor given to them by their parents, we definitely caution against that. >> all the girls were taken to oakland children's hospital. they are expected to be fine. >>> the hunt for a group of fugitives that span two states ended here in the bay area. police spotted the suspects in vacaville and chased them all the way to martinez. they crashed their car just off 680. then they took often running causing chaos in the neighborhood. kpix

we just talked to the ceo of symantec and here's what he had to say. we had an interesting conversation about a lot of things. he talked about these issues and how the nsa's policies in the federal government's policies are hurting their ability to do business in europe. take a listen. >> i'm pretty pleased that the white house, through the executive order, which was just issued is really getting behind sharing information. because we need a lot of tools to be able to protect society, whether it's governments, corporations, or individuals. and sharing is one of the things that we need to do to be able to better protect each other. >> we've had a lot of hacks for a lot of years. your business is entirely based on that. but i feel like the tenor, and maybe the purpose of those attacks has dramatically changed , particularly with the north korean attack on sony, with possible chinese linked to the attack on anthem. what is your perspective? >> you are right. we still see the garden-variety hacking attacks of days past. those used to be a nuisance. we are

the reality of a war disappearing into the abyss of bureaucratic symantecs. obscured by the bold 24 point of a classified stamp. we immediately got to without. not researching but creating this graphic opening. (laughter) >> jon: now how wonderfulfully rye. (laughter) we even had the president of the united states on stap rebutting the very idea of these types of i will use his words, well not really shenanigans. >> we have secret passwords secret budgets, i will turn the page on a growing empire of classified information and restore the balance we've lost between the necessarily secret and the necessity of openness in a democratic society. >> jon: classic daily show gotcha. (laughter) but then tragically senselessly, just one hour before we were to tape he fixed the [bleep] problem. they abruptly reversed its decision to classify denails about the afghan army. you [bleep]. what am i supposed to talk about now? (cheers and applause) at this stage of the game who is going to serve me up a meatball that i can dig into inn to carry us through the rest of the act

symantec is doing it as well. why is this happening? >> i think, my view is, there will be more fundamental structural industry change in the next five years than there has been in the last 20 years. i think that basically every technology company that is more than 20 years old will almost certainly break up. will almost certainly break up, like literally split apart. >> define every. >> i think, basically, every. it will take time. but i think you can go down the list. >> you mentioned oracle. >> there are two big reasons. right? two big reasons. one, they are super cheap. this is something that is widely misunderstood, which is this conventional view that there are these tech bubbles. even google and apple are trading at low pe's. like single-digit, low double-digit pe's, price to earning ratios. the really big ones like oracle and others are trading at single digit price-earnings. if you are one of these big sort of technology conglomerates and you are in all in these different types of business, you have competition from all these n

the cyber threat alliance which includes companies like palo alto networks and symantec are going to work with us so share more information under this new executive order. you've got companies from apple to intel from bank of america to pg&e who are going to use the cybersecurity framework to strengthen their own defenses. as part of our buy secure initiative visa, mastercard and american express and others are going to make their transactions more secure. nation's star is joining companies that are giving their companies another weapon to battle identity theft and that's free access to their credit scores. and more companies are moving to new, stronger technologies to authenticate user identities like biometrics, because it is just too easy for hackers to figure out user names and passwords like, password. or 12345. 7. those are some of my previous passwords. i've changed them since then. [ applause ] so this summit is an example of what we need more of. all of us working to the to do what none of us can achieve alone. and it is difficult. some of the challenges i have described tod

i talked to the ceo of symantec and he said their european customers are saying they want more assurances will be kept out of the u.s. >> they do want more assurances which is why cases like the microsoft case will be watched all over the world. the other reason why apple is building the data centers is because they are making a point -- they are saying the u.s. government will not let us repatriate the millions of dollars in cash held overseas. they don't want to pay the 35% in taxes. they are saying they will start building, expanding and growing outside of the u.s. >> it will have some implications. thank you very much. you can get the latest headlines on your phone, tablet and bloomberg.com, bloomberg radio. we will be there. see you tomorrow. ♪ >> the following is a paid advertisement from starvista entertainment and time life. >> ♪ somewhere beyond the sea ♪ >> bobby darin, frank sinatra, dean martin. >> ♪ volare ♪ >> tony bennett, nat king cole johnny mathis.

. >> that was mike brown, the ceo of symantec. imagine you just got hacked. what do you do?ll sit down with a ceo who gets those phone calls all the time and talks about the best practices in cyber security when "bloomberg west" continues. ♪ >> this is "bloomberg west." here is the world news -- fighting in eastern ukraine today. pro-russian rebels and ukrainian troops are trying to maximize their territory ahead of the ceasefire. it appears the truth will not hold. ukrainian stocks fell for the first time in a week. plans to cut 1500 jobs in russia this year. that is according to a person with direct knowledge of them matter which is the russian economy squeezing the bank's profits. most of the layoffs will be at the russian consumer unit. another blow to american express. jetblue was ending its partnership with the credit card company a day after cosco said it was pulling out. jetblue has reached a new deal with mastercard. this is "bloomberg west." we continue with the white house cyber security summit in stanford, california at stanford university. cory johnson is on-sit

charles: don't they have a history with symantec. haven't they blown every great opportunity? they've had the ball on the 1 yard line and run and threw the ball. >> two years before that, they fired the other ceo. they'll find someone eventually. >> juniper networks. some activist investors are in there. two new directors on the board. the company may be heading in the right direction. charles: look at that chart. again, all these things have the same theme that the street is giving them the benefit of the doubt. they can execute a little bit. it should be pretty good. i think it's an interesting strategy. look, it has made a lot of people a lot of money. all right, guys, make sure tonight you tune in to "strange inheritance." jamie col. now, this is -- i like this one, she meets the daughters of a cello virtueose zero and inherits millions. also, make sure to catch fbn's newest show. "strange inheritance" unpacked. it premieres right after the show tonight. host melissa francis and her panel will resurrect cutting room floor footage. the heirs of this "strange inheritance." a

i was just looking at symantec the other day. does the name ring a bell? the old company that used to protect us from security threats. all of a sudden they decided that that's not enough and they bought a storage company. they are fighting to get back to what they were. spinning the saw six years later after almost no growth. neil: what happened in 2000? >> inside these companies what is happening with apple is that they are getting to a point where they have too much cash and they need another idea to keep this company going. we call it in the money-management business style drift. drifting away from those that made them who they are today. this happened with ibm when they got into the laptop computer business. they were in the mainframe business and they try to do this with a laptop it took years to recover, so when people are investing in the stocks, they are actually looking at a stock that has the growth of what they had in the past and now they have the.com exposure from 2000. neil: and i'm just wondering when they go way beyond their purview, i don

the cyber alliance that includes companies like symantec will be working with us.ve couples from apple to intel, from bank of america to pg&e, who will use the cyber security framework to strengthen their own defenses. as part of our bisecure -- buysecure initiative companies like visa and american express will be making sure are more secure. consumers will be given free access to their credit scores. and companies will use stronger authentication technologies like biometrics because it is just too easy for hackers to figure out usernames and passwords like "password." [laughter] or 123457. [laughter] those are some of my previous passwords. [laughter] i have changed them since then. so this summit is an example of what we need more off, working together to do what none of us can achieve alone. and it is difficult. some of the challenges i have described today have defied solutions for years. and i want to say very clearly as someone who is a former constitutional law teacher and someone who deeply values his privacy and his family's privacy -- although a chose the

helping out or recognizing that there is a reason why verizon has services that people pay for, symantecs services that people pay for and so on? >> i'll start to get us warmed up. it is too bad. we try to keep our panel limited. there are a couple of other folks who would love to have on the panel. we would have loved to have someone from the hill to talk but also someone involved in one of the companies that is set up to facilitate sharing, identifying the space. been in this business, red sky alliance. been in this business, and it would have been interesting to here how they dive into this. you can look at crowd strike in releasing the information as part of identifying the market need. and a targeted question which surprised me a little bit. when it comes to these, cloud strike. in the mentioned cloud strike could set up one. that is interesting. that really bends the model. >> and that is what i imagine. is not the system you think of. an individual company could become. in the in the short term the advantage of that is that becoming they are saying, we follow a certain set of stan

symantec leaders will share what they learn.d for more cooperation between the private sector and government. david louie, abc 7 news. >> you know, it's a really big threat. it's not just a game. not something to laugh about. >> this is impressive. the ability they have to do anything -- the whole part how they can put an antenna in the door frame and you walk by and they steal your information. this is serious stuff. >> what they say is next with organized crime possibly crowd sourcing. having masterminds outsourced to lower level guys that can hack in to banks, atm networks and get other debit cards. scary stuff. >>> up next, madonna is talking about lady gaga again. >> from cybercrime to madonna. ♪ . [ male announcer ] approaching medicare eligibility? don't put off checking out your medicare options until 65. now is a good time to get the ball rolling. medicare only covers about 80% of part b medical costs. the rest is up to you. that's where aarp medicare supplement insurance plans insured by unitedhealthcare insurance comp

. >> what i hear from many who support the president on this, the reluctance to go into symantecs, they say just that. what difference will it make? i'm not pulling a hillary clinton line here, but what difference would it make calling them islamic extremists or whatever you will that it isn't going to change how we go after them. what do you say to that? >> i think it is important for a couple of reasons because words have meaning. so the words you seek, they matter because you express your understanding and intention. and when you look at those who are trying to incite religious bigotry and cementing hatred, saying this is a religious war, actually calling this for what it is islamic extremist is important because it shows the vast majority of pluralistic muslims not following this radical ideology and those that are. so calling it radical islamist or islamic extremists, terrorists, whatever the terminology is, you have to identify what that is in order to provide they dividing line. >> so when the president refers to an organization or ideology, do you think the type of killing that'

given the trends, and they have built a mouse trap now to gain more and more share cisco, junipers, symantecre cyber security name to own. >> dan, great to see you. thank you. dan ives, fbr. >>> guy likes the lebron james of cyber security, al owe alto. pete. >> i own calls of fire. >> and dan? >> i want to make one point. he talked about these things being potential takeover candidates by large players like ibm. >> cisco, yeah. >> he's the problem with splunk or whatever it's called. less than $500. it can never possibly move the needle. it makes more sense for a much smaller kind of vendor. data vendor. that sort of thing than one of these guys. and who can pay 25 times earnings? >> still ahead on a down day for the markets, white way foods is popping 4% following a strong earnings report last week. after the break, we hear from the ceo white wave live from the consumer goods conference. stay tuned. can it make a dentist appointment when my teeth are ready? ♪ can it tell the doctor how long you have to wear this thing? ♪ can it tell the flight attendant to please not wake me this time? ♪ t

an individual company that facilitates sharing among its customers like symantec. public to private partnership. the eo kalecalls for a creation of a baseline. dhs will fund a private sector to develop the baseline and the baseline would be developed in a multi-stake holder process with the private sector. it will enable ice house to demonstrate that they will handle the information and being called eded upon to share responsibly. it's really so we can broaden out what is possible in the information sharing space as much as we can. we believe that it's such a foundational capabilities that we need to have that basis be as broad as possible. the eo clarifies the kings abilities to enter the agreement with ice house. that he don't have to share with the federal government. we hope that many of them with focus on private sector sharing. they don't need to share with the inkick although we anticipate that many will. the eo makes clear how they can share cyber threat information with the ice house that want it. tied to the legislative proposal the administration made we

. >>> for the fourth year, symantec is holding a cyber war games competition. the goal is to teak skills to help prevent hack -- teach them skills to help prevent hacking. this year the theme, protect the healthcare industry. the hackers are targeting healthcare because stolen medical record can be sold on the black market for ten times more than credit card numbers. >>> businesses in danville are being warned to take precautions after a series of early-morning break-ins. the most recent happened yesterday. brian flores has the video tape police just released in hopes it will help catch the thieves. good morning. >> reporter: we're at the cross roads shopping center in danville. we just got done speaking with a restaurant owner who says this is the third time his business has been broken into. according to danville police this started early tuesday morning at the crossroads of danville shopping center. two businesses were actually broken into. police did not specifically say which businesses were affected. but when we did speak to the restaurant owner, he said

returning to the policy landscape, symantec supports as you said chairman, balance a thoughtful national standard for data breach notification is on three principles. first, the scope of any legislation should apply equally to the entities that collect retain or so significant numbers of records containing sensitive personal information. this covers both the government and private sector. second, implementing the security measures should that should be central to any legislation created new legislation shouldn't simply require notifications of consumers in the case of the breach that seek to minimize the likelihood of the breach in the first place. third, encryption or other proven security measures that render the data unusable at rest or in transit should be the element to establish the risk-based rep told for the notification. this lessens the burden for consumers and for the breached organization. a semantic we are committed to improving online security across the globe and we will continue to work collaboratively with our partners on ways to do so. thank you again for the opportunit

and the individual company that facilitates the sharing among its customers like symantec. the public-private partnership like the national cyber for insect training alliance in pittsburgh. so the call for the creation of a baseline, so dhs will find the private sector nonprofits to develop the baseline and at the baseline will be developed in a multistate clerk processed with the private sector. and it will enable them to demonstrate that they will handle the information that they are being called upon to share responsibly. and so part of the reason for doing this expansion of this concept is so that we can broaden out what is possible in the information so sharing space as much as we can because we believe this is such a foundational capability that we need to have that basis and foundation the as much as possible. now it clarifies the ability to enter the agreement with isao. they don't have to share with the federal government in fact we hope that many of them will focus on the private sector sharing. those that do share with the government don't need to share although

at symantec, we are committed to improving online security across the globe and we will continue to workollaboratively with our partners on ways to do so. thank you again for the opportunity to testify again today. i will look forward to your questions later. >> exactly five minutes. thank you very much. mr. duncan? mr. duncan? >> chairman moran and members of the subcommittee, thank you for this opportunity. data breaches need to be correctly and forcibly addressed. very -- they fundamentally affect our economies push toward greater efficiency and cost-effectiveness. by way of context, there is a long history of interception by private individuals and governments from opening letters to tapping and telephone conversations. today, we had super computers and the internet. together they're crating a , public network with no boundaries, far more versatile and efficient than all the technology that has gone before . governments entrust them with critical infrastructure, businesses with their most valuable intellectual property , and millions of people type their deepest secrets into google,