the 100%. we are partnering closely with code for america. we would not be a tech organization without a website. our url is sfciti.com. with the headquarters city of twitter, it would be heresy not to have a twitter handle. #sfciti. with that, i want to introduce our great mayor, mayor ed lee. [applause] >> thank you for that very detailed explanation. first of all, i want to thank the board of supervisors. they are my partners here. president david chiu, you and i, jane kim, have spoken, mark farrell, christine olague, have spoken in depth about what our future holds for us. i want you to know that i am sharing this excitement with them. we have a constituent that is in great need. i am going to take a page from what willie brown has always represented to me. he said as good advice, if you feel passionate about something, don't did there. move on it fast. i cannot think of an initiative -- it has not even been one week since i took the oath of this elected office, and here we are on the first friday, moving this and what the technology really like, an accelerated

if he ran, the tech community would support him. what you are seeing today is just the initial launch of the activities where the tech community will organize and partner with the city of san francisco. one week from today, the tech community will announce what it is going to do, in an organized fashion, to support what is happening in san francisco in the city, and with the efforts that code for america isn't leading. we are truly going to bring had a tech culture to san francisco. it will be very exciting. san francisco is lucky to have a code for america, ed lee, and especially our new chief innovation officer, jay knapf, who will speak now. >> thank you, mayor for the opportunity to serve as the chief innovation officer in the city. in my role, i plan on strengthening the partnership with our technology community and city hall to rediscover the digital age. we have discovered so much through our civic hack-a-thons and other things that we have done. this is a great example of harnessing the on deprenyl spirit in the city and real

erika miller takes a look at what's fueling the power surge in tech stocks. >> reporter: in the heart of times square, you'll find the nasdaq market site. this monument to growth and technology firms debuted in 2000, during the height of the dot-com bubble. now its best-known index is trading at levels last seen that year. but clearly, a lot has changed. >> global technology companies have become much better businesses-- more efficient, better supply chain, better management. you know, we had issues with options backdating, we had issues with the way companies were run in terms of inventory management. all of that's gone now. >> reporter: the proof is in the latest earnings reports. a whopping 77% of tech firms are beating expectations and by an average of about 10%. tech is expected be the best- performing sector in the fourth quarter with a 12% earnings gain. that's double the forecast for the overall market. ironically, a weak economy is one of the factors powering the tech boom. many companies are hesitant to add to payrolls, so they are spending their money on technology to boost

then i would tell the techs, okay, put the hatch on. then we put the hatch on. next thing we need to do is run a cabin pressure check, leak check. if that turns out all right, then we are now ready to go. and about -- normally about an hour before lift-off we would clear out the -- we would leave. those of us in the structure would go back. last range support functions were performed, then we had lift-off. >> where would you watch the launch from? >> we would go to a very forward position that we called the road block where the crew, i had always an emergency crew that in case we need to go in a hurry, we would stay there right at the road block. i also had my electrical technicians, mechanical technicians and the system guys where at the last minute we had them there at the road block because everybody else would be cleared. we would be watching it from the road block. >> right there. now, during that time you've talked about how were you a stickler for doing things right. but let's face it, the rules were very different. i mine i've heard stories, you just wal

tonight, i have the privilege of speaking at the tech awards. regarding technology, my knowledge is limited to a few facts. i know the character i play on tv uses a pc. i use a mac at home. the only difference to me is i think the mac is prettier. i just joined facebook in the past year. i have for the friends. [laughter] -- 40 friends. i joined twitter around the same time. i have no followers. i changed pseudonyms a dozen times. i sent messages to politicians and athletes to congratulate them on living after loss. despite all of this, i am here with you, the most tech-savvy people of all. i am grateful. i will not understand most of what you talk about, but i will listen carefully, and may be able to parrot back a phrase or two. i have very good memory. the pact follows award honors 20 individuals for their outstanding achievement in one of four critical areas of entrepreneurship -- general management, disruptive innovation, product marketing, and engineering. for each category, 5 tech fellow awards will be permitted. to be fair, ask everyone t

. >> facebook status could soon being changing in what's called the tech ipo since google. it could raise as much $10 million and value social network between 70 and 100 billion. >> you're going to have hundreds of millionaires almost over night. >> the tech that's holding on to says millionaires will be a big challenge for facebook. >> you want to keep them within that company because that talent brought you to where it was. >> the tech giant has more than 3,000 employees. >> most people have an ipo after taxes between 1 and $5 million and you can if you're a 35-year-old employee, you can't retire on that. >> high end car dealers investors and deers say they're ready with the inventory. >> we've been in the stores for a long time. >> the county association of realtors says after google's ipo in 2004. home prices jumped 16%. he expects about one in every five facebook employees to look to buy. wood side, and -- they'll get the brunt of the benefit. even if papers are filed tomorrow the ipo wouldn't happen until april or may. likely start between 35 and $40 a share. maureen,

>> this organization is going to represent the tech community in a unified fashion. the first agenda, which we are taking the lead from ed lee on is job creation. if we can create 500 to 1000 new jobs this year, we can have a significant impact on the economy of san francisco. ouster -- our support for code for america, another nonprofit, to go into the city of san francisco, fined projects like david chiu just talked about, projects that volunteer hackers from the tech community can go in and solve problems for the city of san francisco, to eradicate bureaucracy. applying for a business license in san francisco is not a pleasant experience. we need to apply technology to problems like that. >> [inaudible] >> initially, it is about the economy and jobs. many of us in s.f. citi are very active already philanthropic way. the mayor keeps talking about the philanthropic efforts. funny enough, i am tied to ask him what is in his mind. we have not discussed that yet because we are focused on jobs. thank you. >> [inaudible] >> sopa is a bill in the congress. there is a bill

that we actually building inside the watch the stainless steel case on the top of it is that the high techsran a basically rebuilt to cases of and still won from ceramic it's a case within a case better water resistance see in makes the watch much more secure and strong we're very strong on the market's it yet to buy watch what this caller dark gloom navy blue then spend between $45,000 of lease or using buttercup design nicely done rich looking it's the quality and the compass the first diamond for this morning for a 5 mm k size million ido said both of immense size and snap adjusts to bake duet for fashion and the sad part is sold out this is in single digits you're than 10 alan i figured out of myself we have another if the ceramic and at a little later on

another bull run in the stock market and apple hits $500 a share, is there still time to get into the tech giant, what investors need to know, straight ahead. live from the new york stock exchange, this is the final and most important hour of the trading day. >> hi everybody, and welcome to "closing bell" >> welcome aboard. >> good to be here. >> in the markets, stocks kick ingredie ing off the week on a high note. aus tearity measures were given the go ahead in greece and now they have to implement it. it could be poised to close, nasdaq, at the highest level since last educate. meantime, president obama unveiled a $3.8 trillion budget proposal that raises taxes on the rich and calls for aggressive spending to boost economic growth. we will look at the hurdles facing the spending plan later on in the program. with jeffy zients, we will ask mr. zients to explain the white house plans to cut the deficit by $4 trillion over the next decade. >> i look forward to that very much. the dow has a gain of 83 point on the session and the nasdaq is on the plus side of 28 points, 2932.31 and the s&p 5

apple is dragging up the tech sector. but my point is, we've had a great rally so far. >> the news is catching up to the market right now basically. >> i think so. i think the news was unequivocally good. the only reason i can give people about why we're not seeing a better reaction is, we've been getting it every single day. >> a slow crawl up. >> yeah. i think maybe that's a good idea for the market. i know it's not terribly exciting. we're not getting 200 points moving up and down like the middle of last year. like a bowling alley installed in our brains every day. but hopefully this is good for the market. >> the volume not as bad as yesterday. >> cut the volume. the. >> let's look at the movers and shakers in the market that has the dow just about 17 points. courtney reagan at the cnbc realtime exchange right now. >> good afternoon, maria. we're still green across the board. like bob said, tech is the outperformer. just shy of half a percent. that's the same thing that we saw yesterday as well. if we can check in on t

and one of the ways the tech industry is creating jobs is with startups. one of the startups we found today, in fact, does just that. it creates jobs. it is a way to take venture capital money and give you a boost as to how you can find your next job. tonight at 6:00, we're going to visit a company right in the middle of some of the hottest tech trends around. we will ask the ceo exactly who they're looking to hire right now. janelle? >> okay, scott. thank you so much. we'll check in with you a little bit later. >>> well, more good news for the economy. restaurant revenues are up across the country, including right here in the bay area. in san francisco, business is up about 5% from last year. that's better than the national average, which is about 4% up. the national trade association says the restaurant industry is expected to employee about 13 million people this year. 200,000 restaurant workers were hired just last month alone. and the country's estimated 1 million restaurants are expected to bring in more than $630 billion. >>> a $30 million makeover.

columbines that happened over the project in virginia tech's it happened but there are anomalies. and you see how folks react when that happens you know i think columbine thirteen kids maybe. thirteen kids and we know we can't hear the other side tries to argue that the world is easily divided into criminals and non-criminals rage on the freeway van let's try but all of us get angry people get drunk people have road rage people get depressed a family wiped out by one man with no history of violence a woman who shot and killed her son at a gun range then turned the red weapon on herself. guns are available people who without those guns might have been someone who got angry or threw a punch all of a sudden turn into someone who got angry and grabbed a gun police say was very angry because his boss had yelled at him for not wearing a safety glasses and talking on a cell phone probably good news on the someone in the home with a gun is more likely to have gun violence in the home without a gun he was having trouble drilling a hole through the wall so he decided to use his twenty two ca

. >> oakland has had a bit of a hot streak the last few years in attracting tech companies -- pandora, and rumors of a couple more. there is indication that rent is about to go off the charts, or at least up the escalator, in san francisco. that has historically been very good for oakland. are you expecting that to happen again? are you encouraging those companies to come to oakland? >> i try not to get in trouble by venturing over there too much. we're trying to respond and take people out. in may, we will be doing very broad outreach to investors. if you take the lower rent, the fact that we do not have a business tax, a payroll tax, the discount we give new companies moving to oakland, and if they use enterprise zones -- that would save us $35 million over five years. obviously, san francisco -- a lot of their companies are growing. they grow naturally. we have a similar climate. which is finished hour by plane. we are right next to berkeley. the art and restaurants in is attracting a young, well- educated work force in oakland. i think we are pretty attractive. i know that a lot o

the tech giant is bringing out popular features of the iphone and ipad and going to transport them onortt is in silicon valley with the details. apps for my mac, hey, jon? >> that's right, tyler. here's the way investors should understand today's apple announcement. apple sold more than 60 million iphones, ipads and ipod touches. now apple is looking to convert those legions of ios users into mac users in part making them work more like ipads which started in earnest with the last release, lion. now up marginally with the broader market. mountain lion icloud. access and store files on the internet. twitter built into the os as the default social network making ilt easier to share. a mac version replaces that and somewhat ominously named gate keeper lets you determine ahead of time what apps get to run on the system. built as a security features and the bias toward getting people to download from the mac app store. support for chinese language input and chinese services. this is the biggest market. and also interesting here the ipad, there's kind of conflicting reports on how much it's

the short-term. investors are focused on tech, so why not ride the tide? >> really? uld you buy these techs on the back of facebook? this is a feel-good rally on the back of facebook? >> absolutely. that's all people is talking about. greece is in our rearview mirror believe it or not. jobs number added fuel to the fire. people can focus on the tech sector and really buy it right now. it's not just the large caps. small and mid caps are up over 12% this year too. there's value everywhere and people are buying into it aggressively. >> matt, thank you very much. do appreciate your time. we're a little squeezed today. get you on again soon. take care. >> from big tech to new tech, netsuite soaring. could this cloud company be an up and coming titan? joining us now the ceo. zach, i was looking at your numbers. incredible. the quarterly numbers, 2011 numbers, amazing growth. huge, big gains. do you think you can keep that kind of momentum going? >> well, we certainly hope so. you know, the rush to this cloud computing trend is happening across the business sector. and we'r

will lift the entire tech sector but is the. wealthy british style. expert on the tireless. market why not come to. find out what's really happening to the global economy with mike's cancer for a no holds barred look at the global financial headlines tune in to kaiser report on r g. but i'm defining it as a strike for thirty australia and you know the telly i know they're still on the way thank you so you get to among the stories yeah if you want to have sex go and have sex. welcome back you're watching our q live from moscow these are the top stories of breathing life into hopes for a peaceful solution to the syrian crisis russia's delegation to the country sees signs the both sides are ready for dialogue. between the e.u. and the u.k. grows into a kassam after the european court of human rights orders the release of a solid in the audience right hand man in europe. and washington stop military official have to try and suspend criminal charges against american ngo members as egypt's military leaders crack down on the western activists to help them to power a last year. the

and those gains were mirrored in the leading sectors. tech, consumer discretionary and health care sectors were the strongest, but all were up less than 1%. tech stocks got a jolt from a deal in the semiconductor business involving two of the biggest names in chips. intel is selling its stake in two manufacturing plants to micron, which was a partner in the plants. the deal totals $600 million and has micron supplying flash memory chips to intel. demand for those chips is growing as they're used in thumb drives, smartphones and even replacing hard drives in some laptops. micron was the hottest tech stock in the s&p 500 with its almost 4% gain. volume almost tripled. shares are at their highest price since june. analysts say the deal gives micron more capacity to make chips with higher profit margins. market sentiment may have been helped out by a drop in oil prices. crude oil fell about $2 per barrel, settling at $106.50. oil began this month just below $100 and is up 7% since february 1. we have a technical look at the oil rally under the bl

whatever you want to call them, who follow the cyber techs. use years ago, the meddling by china and russian, their neighbors. although the new technological agents are allowing the movement to get their word out and communicate and that keeps evolving, but you also see governments like governor belarus try to clamp down on that at which i've also been very concerned about. that's just a statement. it's just an evolving -- it's like a competitive market. when people want to get information but the bad guys want to get around and it moves too fast and we can really regulate. i've always said that about this subcommittee and the tech community. there's going to be a lot of self interests that gets you people to move before they get caught. let me talk -- segue real quickly. i serve on the energy committee and go to power plants all the time. big proponent of nuclear power. and mr. terry's opening statement talked about, well, you could be secure if you just had a desktop alone and were no longer connected. now, with wi-fi and stuff, who knows wha

but even with all of that money, is the tech industry coming late to the lobbying game? >> the entertainment come company, oil companies, pharmaceuticals, others, have relationships going back decades, very close ties between lobbyists and members of congress, and so what we're seeing is the tech industry's increasing its lobbying spending. >> they're catching up. >> they're catching up, exactly. >> catch the full report tonight at 11:00 on nbc bay area news. >>> well, breaking news now out of oakland. we're learning a school is on lockdown right now as police investigate a report of shots fired. this is happening on east 21st street at 17th. again this is in oakland. we understand the school's name is roosevelt, roosevelt school in oakland currently on lockdown. a large perimeter is locking down the neighbor. police are searching for a suspect. they have not found a victim. we'll keep you posted as we get new information into the newsroom. >> we bring in meteorologist christina loren. i guess we've been very, very spoiled. temperatures in the 70s and 80s. today back to

the thing is, i think that definition of tech is outdated. ink about it it's about hardware, software and internet, but the real essence of tech is innovation. back in the '90s what we considered tech names are the series of innovations from personal computer to the e-mail on the web. in the heyday these companies were creating new markets almost entirely out of a whole cloth. nobody except professionals needed a pc in the '80s and in the '90s everyone needed a pc. apple being the best example. 500 billion here and 500 billion there. we need to cast our net wider to hunt for game changing inventions in places where you least expect it because they're driving stocks and this show's a stock show. take under armour, all right? yeah. under armour. the athletic apparel maker or at least that's how you probably think about it, but i argue that the best way to understand this one is a new tech company. from the very beginning under armour made a name for itself by inventing an entire new category for sportswear. they invented moisture wicking compres

for the s&p tech sector here, is it a coincidence that you see the most highly anticipated ipo from theh sector in a long time, coming out just as this indicator is hitting a high. any moment we could get the ipo filing for facebook. if it's a risk on day, the risk off assets are going lower today. the ten-year yield bumped up a couple of notches. the vix was moving lower today, down almost 5%. we're at the 18.56. by the way, speaking of the vix, maybe your obsession with volatility, an espionage thriller called "the fear index," i'm wondering what's next. an espionage thriller. that book just out right now. let's look at the sectors and how they performed. i'm going to bring chris heisey in on this. the financials in the materials and technology that are leading the way as they have for much of 2012 at this point, when you look at the bottom five, the laggards, it's last year's leaders, the utilities and discretionaries. are there opportunities in any of those sectors that you see as a result right now? >> no question about it. in february, we're going to have ltro 2, more liquidity in

interesting to note, ross, the financials and the tech stocks were the standouts.lth care in the u.s. was the underperformer. >>> yeah, the european bourses up, closed down flat to lower. right now we're trying to inch higher. again, a super day of earnings out of -- i don't mean super in terms of fantastic. i mean a lot of earnings today out of europe. quite a mixed bag really but nevertheless stocks are trying to inch higher at the moment and because we haven't got a final adwre agreement out of greece, therefore can't expect the euro group to expect anything tonight. actually don't have -- they can't agree on anything until the greek politicians have agreed if that all makes sense and that also means we'll probably get slightly more muted press conference out of the ecb. mario draghi likely to be questioned about the central bank whether they want to accept a haircut on greek debt holdings or not. silvia is there. silvia, if we don't actually have any agreement on the table then presumably he's going to say, well, i can't talk about it because we don't even have

actually apple is one of the biggest tech lagers given the earnings revisions.ayed reaction we should have seen the last couple of quarters. i think there's more room to go. >> what is your take on what's happening at google, amid reports of a new entaintment system coming, you know who the direct competitor appears to be, apple, who they have their sights set on. what do you think about google's prospects going forward in a year where they've lagged some of the other big tech names. relatively speaking the performance is weak. >> i think the stock will be rangebound for the next six months. the biggest reason is motorola, has nothing to do with google's fundamentals. at the end of the day investors don't want google to have the big hardware business. as much as you want to separate those two worlds it's on every investors' mind. the fundamentals are the fundamentals are great but they have to deal with this motorola pr issue. >> gene, a quick question about apple as far as when you look out and you're worried about anything about apple, you have a 670 target. i

and the earnings. >> tech nojnology and financials. thank you. we will see you soon. >> we are heading towards the close of about 50 minutes to go. here the rally continues. 150 points with the technology shares. >> we'll show you where the blue chip index is headed. >> how is health care reform affecting the medical device indust industry. >> we're getting a window into business. we're going talk about color rox. how does the company combat a fifth straight quarter of shrinking margins. that's what investors want to know. you're watching the closing bell on cnbc, first in business worldwide. >> with. >> just about 45 minutes to go in today's trading session. >> it climbed 165 points at the high. take a look at the biggest winners in the dow. all up on the session bill. >> after struggling with week demand, saint jude mad call is betting on new technology now. highlighted new products to help it achieve that. let's find out what is in the pipeline. the chief executive officer joining us for the new york stock exchange. >> good to see you. >> the s