is it start-ups versus apple, amazon, google, and facebook? malcolm: what is fascinating about silicon valley is how quickly companies transition from being underdogs to goliaths. we are used to the trajectory of -- microsoft starts and it takes them 15 years to go from the upstart to the monolith. today, i feel like it was a matter of a couple of years -- facebook went from nowhere to being a dominant player. this kind of trajectory where people go from being at a mirror perceived disadvantage to and being suddenly saddled with all of the attributes of the goliath. now it has been sped up. emily: the amazon-hachette war, you are published by hachette, you and your books got caught in the middle. how do you feel about this? malcolm: it cost me a lot of money. that's for sure. it breaks my heart a little. i had thought of amazon as in partnership with writers. and for a company to try to make a business point by turning its back on -- i have sold, through amazon, millions of books. i have contributed mightily to their bottom line. i would've th

look at apple's dominance versus other companies and what they have done so far. if you think about index funds they now have apple in there. it is such a big waiting in the index. apple continues to rise and the mutual funds happen, you will be chasing apple. erik: i want to meet the people who think to our $40 a share is undervalued. stephanie: he is saying here is all of this dough and here is what i think you should do. tim cook might not disagree with carl. erik: if tim cook agreed with carl icahn, apple would have done it already. stephanie: we do not know what goes on behind closed doors. maybe it is someone knocking on the door to get you in the right direction. erik: an agreement rolled out on greek emergency on friday. let's take you to hans nichols. hans: he held out the possibility you could have a greek deal in about a week. his comments come after the greek finance minister said there close to a deal and he thought they had a little further to go and they could get it done this week. the optimism we hear has not been echoed here in berlin. >> i want t

user of your service, whether i pay for it or not, could taylor it to -- tailor from microsoft versus appleion to that, how much does it cost somebody? is it free hordeuver to pay to do this? >> we have a huge database of skills and taxonomy as well. it is not company specific but it is across multiple industries. the price for this is, we have three plans. the first plan is free for a month. actually free, and you get five free scans. second plan is free for a month, 49.95 per month. third plan is 89.95 for three months. cheryl: you're saying this is $10 billion industry, companies are saving time and money. they want to pay to have the software in place across the board. is it just large corporations? large companies using it as well? >> yes. actually all across small sized, medium and large size enterprises. there are over300 companies making software for companies. for each job, large companies may get as much as 400 different applications. they need a software to filler out applicants. 15% of the applicants are actually qualified. most are not qualified. cheryl: so it is interesting on

and looking at how is google innovating versus apple and amazon.etition in the space. would you go for the buy button? >> i did until i found out the only concept us that search for that come up are sponsored search. you might not get the best deal. >> right now or soon to be this buy button will only be in paid ad. that is an important point. >> who says that's the best choice? i want the cheapest of the exact same thing. >> they're able to drive the price down. >> amazon is 99 bucks for the prime members, google you are paying less for the same service. >> google express is a different kind of service, that's shipping service. the buy button is the gateway into that entire ecosystem. >> jo ling kent, thank you very much. thank you so much for joining us. "the willis report" is next. >> see you tomorrow. gerri: hello, everybody. i'm gerri willis, and this is "the willis report," the show where consumers are our business. tonight the fbi now looking into the theft of personal tax information of more than 100,000 taxpayers. why couldn't the irs keep

manus: 5.65 versus apple. mark: it was four quid back in the day.ell off without him. manus: i think we have the message. we will bring in a fashionista. richard perks, thank you for being with us. mark: we have the latest insight on the rate discussions on the bank of england, the federal reserve today. we will have a look at the euro today. falling for a third day, over 2% down the last three days. stay with us. ♪ >> let's check on the dollar and sterling today as we wait for the minutes from the federal reserve. the dollar is up almost 3% over the past three sessions. treasury yields also the biggest two-day rally. if you think about it this was the fastest rally in the euro since 2010. that is coming back. the cost of the decline is the highest in four months. they say you will see parity by the end of 2015. we are going to have this conversation about the bank of england. 9:30. we get the minutes from the bank of england. will the hawks be kept at bay? fourth day in a row we are seeing sterling decline to the minutes. >> we are finding about th

>> google versus apple in the mobile payment wars. we'll talk to mastercard chief emerging payments officer. >>> take another look at the premarket on this final trading day of may. here at the td ameritrade trader group, they work all the time. sup jj? working hard? working 24/7 on mobile trader, rated #1 trading app in the app store. it lets you trade stocks options, futures... even advanced orders. and it offers more charts than a lot of the other competitors do in desktop. you work so late. i guess you don't see your family very much? i see them all the time. did you finish your derivative pricing model, honey? for all the confidence you need. td ameritrade. you got this. >>> will you be there at the end of the year? >> look i have to focus on my job and what i've got ahead of me. i don't worry about am i going to be working on this date or working on that date. i focus on my job. >> you feel you're in sync with the board? >> i don't feel like i'm in sync with my board. i know i'm in sync with my board. the board and i communicate

this is a fascinating idea that inequality is about apple versus a more monday and corporate structurei think we have paid far too little attention to firm level behavior what drives firms. we have seen something like 2/3 of the rise in ways inequality is average pay of firms has diverged as opposed to within firm -- tom: apple versus mcdonald's. anybody at appleworks more -- makes more than anybody at mcdonald's. peter: exactly. returns of capital have also diverged. in the 2000's, 14%. a huge change. tom: i am thinking three years ago, the basic idea is the computer, my friends frenemy or enemy? at apple, they can peter is my friends, at mcdonald's, maybe my enemy. how much of that is just about the computer being my friend or enemy? peter: the computer is a big driver, i.t. investment, but the puzzle is that we continue to pour money into information-technology increasingly in software as opposed to hard work, yet it is not showing up in the macrolevel, aggregate productivity numbers. tom: do you agree with carter that a liberal arts education is valuable today, or should everybody

pimm: put it in the context of what are the sales now of apple and the market cap so we understand what he is looking at versusnt apple. >> obviously tim cook and steve jobs before him have made apple into the world's most valuable company. they have a track record showing they can deliver. entering new markets. there has really been a revolution over the past decade for apple. they have demonstrated their ability to get into new market. so there is reason for optimism here. olivia: tim, correct me if i am wrong, last time carl icahn said return more money to shareholders, tim said i will do it but i will borrow money to do it rather than bring cash and pay the tax bill and then returned to shareholders. what is carl icahn calling for gekko ok to borrow more money to return to shareholders or talking about dwindling down the enormous cash pile apple is sitting on? >> that has been the apple strategy. theu.s. taxes to bring offshore money back to the united states, so it has been using cheap money overseas to do that. the big debates right now in the marketplace is whether apple has he with the iphone, -- has p

it was looking at an article i saw yesterday by one of our competitors that was tracking at&t versus appleit's already doing better. >> and they call it the dow jinx and we'll see how long it lasts and it just also happens. apple made a base here and it looks like it wants to take on 800 billion and then who knows, maybe it's a trillion. >> no tv right? did you talk about that yesterday? >> no tv. >> i thought they said that later in the day. >> we said it here yesterday. >> that was two days ago -- i don't want to say it we were probably a little late to the game yesterday. >> two days ago. >> yeah really. but just to be clear just to the physical they're not going to make a fiscalphysical tv but they're going to make a better box. an awesome crazy box. >> i thought it was going to be an ultrahigh def. >> i don't think you want to get into the hardware business. >> then all of a sudden what is apple -- only going to be one company left in the united states? start making breakfast cereal? they don't need to do everything do they? >> i would not make a tv. >> the way they do style and the w

trade happening in terms of retail dollars for consumers but in traders minds when it comes to apple versus best buy. >> my view on best buy, under a new management team this is a much better run company. they are controlling costs. generating cash. the market has yet to assign best buy the kind of multiple that it should for a company that's going to be around. the apple dynamic is a net, net positive. >> brian, we got to leave it. thank for your time. >> by the way his top pick in the space is home depot which is another one. you said home. still spending on home. >> still spending on home. the other thing that stands out to me what your products are right now. there really is the haves and have notes. you look at athletic leisure wear. nike another 52 high. dick's big problem is golf galaxy. that's the overhang. that was an opportunity on that selloff. i bought it. there were plenty of opportunities out there. you have to be in the right spot. >> macy's. 13 times forward earnings stock slow steady move to the upside. remember we played the game who is eating walmart -- what was that game

the asps people expect to be around $500 versus 15 at the low end. applel serve the high end market customers. the mass market -- usually apple opens a marketplace and then they start to lose market share over time, right? like they've done with the phone, right? they had a predominant percentage of the smartphone market. now they're down to 2 out of every 10 phones sold. >> but they're still going in terms of gangbusters in terms of revenue and profitability. what i would push back on is they can have a new entrance in the market but they're not competing for the same customer. does it affect apple if xiaomi wearable band because they're never going to buy apple. >> what happens when this gigantic revenue pool from the iphone slows down or, worse, even turns negative and does this make a vacuum that apple wants to try to layer new products on? can they fill this hole that could be happening? we know the smartphone market is slowing down. it's going to grow 11% in 2015. replacement cycles are going to lengthen. this happens in electronics. >> when you thin

. >> reporter: take a look at apple versus tesla over the last year. no comparison at all. ormed tesla. the cash burn situation is getting a lot of attention today from analysts on wall street. one analyst saying look do they only have enough cash to go through the next three quarters before they have to go back to the capital markets are come up with other way of infusing more capital into the company? that is going to be a focus near term as people look at what's going on with tesla. certainly, the battery storage situation and that business being developed got a lot of attention yesterday, as well. >> something we were talking about this morning with jim, too. phil lebeau, thank you. >>> shares of alibaba are gyming after a strong earnings report. we spoke with incoming ceo daniel zhang about transition to mobile platforms and the importance that is playing in china. >> today more and more consumers in china use mobile to do online shopping. on the other hand, more and more merchants start to spend more dollar on the mobile side. based on this we believe mobile side will

so it is bad apples versus the bad barrel. i don't think we had a bad barrel but i don't think were paying attention to the barrel. the professional development are we living up to those things? it is easy to blame the generation. but how are we doing? that is what we are focusing, the professional development of faculty and staff. and a climate of respect includes. >> the president pointed out, religion, sexual orientation, diversity of thought, that is what we mean. it is not easy. there are many national issues played out because there are many -- southern colorado is an interesting place wife in politics. we have religious headquarters across the highway from us, and colorado is legalize marijuana. is marijuana. is not for us but it is an interesting place to be in the middle of all that and also on the issue of sexual assault. it is a plague on campuses nationwide. it lays out a lot of the issues. i assure you we are working really hard to figure out how best to discuss this issue. i don't know about your parents, we did

bad apples versus the bad barrel and i do not think we have a bad barrel, but i do not think we're payingattention. talk about professional development for faculty and staff how are we doing? it is easy to blame the generation. at how are we doing? focusing on the professional development. and a. and a climate of respect includes the points that the president pointed out religion, sexual orientation, diversity of thought, background that is what we mean by respecting people. it is not easy to balance this out. southern colorado's interest in place with kaleidoscopic outlooks on life and politics. we have religious headquarters across the highway. colorado has legalized marijuana, not for us an interesting place to be and also on the issue of sexual assault a plague on campuses nationwide screening the new documentary the hunting ground which lays out a lot of the issues you may know. just read john krakauer's knew book command i assure you that we are working hard to figure out how best to discuss the issue with the generation. our generation did not talk much about this and i don't know

it's the bad apples versus the bad barrel. i don't think we're paying attention to the barrel. talk about the professional development for this faculty and stuff and say how are we doing? are we living up those things we asked the cadet to do. it's easy to plam the generation to say this generation is not honorable but how with we doing. that's what we're focusing on the professional development. diversity of thought, your background. that's what we mean by respecting people as they come in. it's not easy to plans this out. there are many national issues that are played out on our front lawn because there are many, southern colorado is an interesting place with outlooks on life and politics. we have religious headquarters across the way from us and colorado's legalized marijuana. that's not for us but this is interesting place to be in the middle of all that and try to balance it and also the issue of sexual assault. it's a plague on campuses nationwide. we just been screening the new documentary the hunting ground. we've had chance to see that. it lays out a lot of issues you

versus average pay. evidence suggests most of the rising inequality is because pay on apple's divergent from pay at mcdonald'st: you can hear more of the conversation at bloomberg.com. billionaires may soon be jumping the shark. concluded the rapid rate of wealth will level off over the next two decades. slower economic growth in emerging markets and the growing sheriff billionaires heading to retirement. -- share of billionaires heading to retirement. 70% ourselves made. are self-made. there is a lot of good insight in this report that we did not know about before. some billionaires like to to their own horn, but many like to keep a low profile. billionaires have family-owned companies that have not gone public yet or they own real estate under llcs. we don't know who they are all or how much they have. self-made.aires were these are the people who made their own wealth as opportunities -- entrepreneurs. scarlet: we hear about these guys who drop out of school and start their own company. the report debunked that myth. 80% of self-made billionaires do have a college degree. what is the source of wealth? we t

apple, consumer products company. disney, other than the merchandising stuff that they do versus the films, that's not really what it isdon't have a risk of everybody suddenly turning off espn because something else better comes along. they have a much more stable source of revenues. >>> up next, twitter shares fell hard this week. we'll tell you why now could be the perfect time to buy after this. is. here at td ameritrade, they work wow, that was random. random? no it's all about understanding patterns like the mail guy at 3:12 every day or jerry, getting dumped every third tuesday. this happens every third tuesday. we have pattern recognition technology on any chart, plus over 300 customizable studies to help you anticipate potential price movement. there's no way to predict that. for all the confidence you need. td ameritrade. you got this. ahh... steve, other than making me move stuff, ces. what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place that lets you visualize that information for any options series. okay, cool. hang on a secon

versus trust law. i think it is like apples and stones as the short answer.t that cbs and by, is sold? bill: my view is it is as likely now as it would be two years after sumner's death. they make an operative the board of the companies and the board goes into revlon note and sells it to the highest bidder because that is what they are required to do. unless somebody is making that offer, sumner is just one shareholder in a very large voting shareholder and his economic state is actually quite low. one interesting thing is that from cbs, it is rumored to supposedly have been buying sumners stake back of cbs. private equity, obviously and changing the capital structure dynamic of his company but eliminating that shareholder. david: for shareholders of cbs there is an interesting element in that cbs could use something called the catch rich split off to reacquire the stock from the trust with much more favorable tax consequences for the trust. it would be like attacks -- essentially a tax exempt event. it was actually a structure used once before to by john mal

because i do and apples to apples comparison and look at how many many reports versus how many i figure out there. that is where i get my estimate of about one in four victims of sexual assault make a report versus 2012. >> the number of assaults is dropping. >> yes. >> that include civilians. give us some sense. >> about a quarter of that number involve civilians. that is our's task from congress to report to them not only the sexual assault experienced by victims in the military but sexual assaults that may have been perpetrated by members of the military. if that might include some civilian victims which is what we carry in our data. >> you are the civilians? contractors? >> people of the local community, foreign nationals, anyone that comes in contact with the military perpetrator. >> can we talk a little bit about the retaliation issue? about two thirds of women who report. >> of the women on the survey indicated that they experience a sexual assault the past year and made a report to the department to a dod authority about two thirds of those women indicated they experience some f

apple never confirmed. broadcom big part of the phone. these guys have been duking it out. this is the roll-up versus david aldridge. >> david aldridge? >> skyworks. he said you should buy my stock. that's number one. they are going up against sky works to get as much business from apple. if you look up the galaxy s-6, samsung has been increasingly taking over its own parts manufacturer. avago and broadcom are there. that's important. if they are written out, you are not going to raise numbers, you are going to lower numbers. this is brilliant to deal with apple, samsung and sky works. >> shareholders will hold a good percentage. it's as much as 30%. it will be 50/50 cash and stock. shareholders have the opportunity to elect restricted shares. that is for tax purposes. the shares you receive under the regular shares would not necessarily be tax-free. we saw it in burger king but you've got to hold these restricted shares as much as two years. that may appeal to the founders who control as much as 50% of the country. >> henry nicholas owns as much as 25%. >> he is a brilliant man. those of us who go back far enough, it was a great idea

we see music and content offerings, also apple from wwdc and some of the stuff they're doing with beats. what's spotify's pitch to work with you versus it comes to exclusives, when it comes to first availables to the artists out there? >> it's none an either/or, it's both. consumers for us, we want consumers to listen to music wherever they enjoy listening to it. from an artist's perspective, they care about making sure their music reaches their fans. >> you see a value in being first, you've got a window where hours before can you view content say from nerdist news anywhere else, spotify has it. so what's the pitch to do spotify versus other platforms, either in terms of engagement or loyalty that users have? >> we've got 60 million users, growing every single day. we have an average of 155 minutes a day time spent on the platform if you want to make sure your content connects with your fans, spotify is one of the places you want to be. >> are we going to see customization like music that changes based on your pace or heartrate or wearables? >> it allows to us create more personalized experiences with the content so one of the thing

versus now. i'm going to win. i'm going to take over china and you are supporting a wrong course. if he did not support chiang apple takeover sooner and tens of millions of people will not have to die. he made this emotional case. he was in the book he reached out to roosevelt. he reached out to truman and the united states supported chiang so i guess by 1949 mao had a reason to be a little upset. he had faced american guns and a five-year horrible civil civil war in guess what? just as he had told the state department in 1944 in 1945 chiang lost in he won. >> a question back here. >> on the chinese and i came to this country in 1997. for my masters degree and then i went on to get my ph.d. from texas a&m and i love this country. i also have four years experience going back to china to work. i didn't realize i'd love to this country until i came back to china. so i just wanted to make a comment to some of the two questions before earlier. there was one lady there who asked a question about it his seems to have more freedom in hong kong but not so much in china. but mr. bradley gave an example of the pharmaceutical

versus growth, and define the risk? jason: there is large-cap tech that people consider to be value stock with low pe, such as apple.on seemed reasonable. within growth technology, some companies have high p s -- high p's on current earnings, but you do not have to look out that far. an example might be facebook. finally, there are tech stocks that are overvalued. there are areas we would avoid. twitter is an example. you feel like there have been too many management changes, too much changing of the metrics they used to measure themselves. alix: m&a? yahoo! has bought over 50 companies so far. jason: there will continue to be tech m&a. the biggest deal was a semiconductor acquisition of free scale. there is debate over whether salesforce was taken out. outside of tech, there is lots of m&a, and i think it reflects confidence in the boardroom. within tech another area that confidence plays out is enterprise orders. very strong bookings growth for many enterprise tech companies. it is the same confidence permeating both areas. alix: good stuff. coming up, is the company behind youtube stars made its first presentatio

apple are like different universes. >> it's exxon. >> sorry exxon. >> i'm not talking about oil versus technology.'m talking about it's technology, it's in the dow. it's the largest market cap. the most widely held. t.d. ameritrade. you don't want to use that as a proxy. >> it's just one product though. >> it is. >> it's the poster child for this market right now. the nasdaq being back above 5,000. technology being the place to go. it's the one most overly loved stock in the universe right now. if apple cracks watch the rest of the market. >> if you're over ten times you have a problem. >> so it's just a given that the valuation is so low nothing can go wrong. >> no i'm just suggesting to compare it to exxon. >> i'm not. >> you just did. >> companies can have profits that seem like they're set in stone and two years later they can be at 50% of what it was. >> we have a lovely very thoughtful smart guest on the set. why don't we get his view. >> i'm obviously a dope. >> never invested money and never had a real job but anyway go ahead. >> you raise an interesting point about earnings but i think if

but because i do an apples to apples comparison here, i factor out those reports and i look at how many service victims made a report to me versusow many service members i think are out there. to my number -- that's where i get my estimate of about one in four victims of sexual assault make a report to the department versus what it was in 2012 which is about one in 10. >> based on it, the number of assaults in the military is actually dropping? nathan galbreath: yes. >> it includes civilians. can you give some sense of how -- what percentage of civilians? nathan galbreath: about a quarter involve civilians who made a report to the department. that is our task from congress is to report to them not only the sexual assaults experienced by victims in the military but also sexual assaults that may have been perpetrated by members of the military as well. and so that -- that might include some civilian victims and that's what we count in our data. >> can you just describe a little bit more, who are these civilians? these are contractors? nathan galbreath: these could be people in the local community. they could be foreign nationals.

. >> the real apples to apples comparison, though jane would be if you had a bottle of that that was fueled by or fed by recycled water versusside by side? >> in napa valley you do not mess around with the cash cow. if it had a different taste, they wouldn't buy the grapes. >> i just want to say, jane, you upped the ante with the pee-no noir. i don't know what my number two is. >> it's from daniel in the assignment desk. these young people they're so clever. >> melissa lee. what's on "fast money" tonight? thank you, jane. >> the ceo of shazam. we have got him tonight. >> that's cool. i'll know what he's saying. thank you very much. "closing bell" starts right now. >>> hi and welcome to "the closing bell", everybody. i'm kelly evans. >> and i'm bill griffeth. stocks modestly higher but only modestly. the s&p is on track to close at a new all-time high. that would break a two-day losing streak. as for the dow, it's higher for the fifth time in six trading sessions, although we're still a few points away from a record close for that one. the nasdaq is finally in the water, trying to end at a new high as well. that's something w

apple maps but they already have a partnership. what -- dom, you have the computer working. my dial-up modem is still trying to work here. what is the market cap on yelp versus grub husband? >> yelp is a $3.2 billion company. grub husband in that same competitive space, $3.3 billion. so between 2 billion and $3 billion in terms of overall market cap. we all speculate about the names, maybe an apple out there or a google. facebook may be a possible acquisition target because of the integration of social with these reviews and whether or not there's a directory approach to some of these things. this is all speculation now. a dow jones "wall street journal" report triggered that move higher. we'll see whether or not the 12%, 13% move higher is justified. >> brian? >> i was thinking here, which is always a dangerous thing, let's try to tie this story in with the original theme of the segment about the market being over undervalued. we have a report that yelp may be exploring a sale. i'm thinking if both stories turn out to be true and maybe both stories are shopping themselves, when do people sell stuff? when they feel like they can get the maximum price. are th

but because i do an apples to apples comparison here, i factor out those reports and i look at how many service victims made a report to me versus how many service members i think are out there. to my number -- that's where i get my estimate of about one in four victims of sexual assault make a report to the department versus what it was in 2012 which is about one in 10. >> based on it, the number of assaults in the military is actually dropping? nathan galbreath: yes. >> it includes civilians. can you give some sense of how -- what percentage of civilians? nathan galbreath: about a quarter involve civilians who made a report to the department. that is our task from congress is to report to them not only the sexual assaults experienced by victims in the military but also sexual assaults that may have been perpetrated by members of the military as well. and so that -- that might include some civilian victims and that's what we count in our data. >> can you just describe a little bit more, who are these civilians? these are contractors? nathan galbreath: these could be people in the local community. they could be foreign nationals