Eventuality of striking an agreement to reach this bridge agreement that will lead us to a new, shall i say, social contract with our European Partners within six months. A contract for growth, social cohesion and forgetting greece out of the crisis. He wants to ease the terms of the bailout deal. According to officials germany will not insist they greece live up to all the terms. German gdp rose 0. 7 more than twice as forecast. The French Economy slowed down. Italy stagnated after two quarters of contraction. The news about the German Economy sent the dax to a record. It broke through 11,000 for the first time before pulling back. Equities are at a record in the u. S. The nasdaq composite is close to a 15 year high. Here we go again. Rollsroyces profits fell 8 . President obama hosting that conference on Cyber Security. He wants companies to share information. For Big Companies declined the invitation. They are mia, but they are sending representatives. Peter, what is up with this vacuum . Does take some of the star power out of it but tim cook arguably the most powerful tech ceo will be there. No question about it. The white house would have liked to have had some of the ceos take part. Instead, the chief Information Officers that a lot of these companies are taking part. The relationship between the president and some of the ceos is not what it used to be. It takes a little bit of leicester leicester luster off of the event. We have got some news already. The president is announcing a new executive action dealing with Cyber Security that basically creates a framework that allows the private sector to create communicate with each other, but also with the government. There are suggestions that it will bolster the effort to join efforts with the private sector and Public Sector to do with the threat of Cyber Security. We are having this conversation because of the cyber hack. The cyber hack at sony. Does this give republicans some sort of opening with Silicon Valley . They have made inroads in with the Tech Community in Silicon Valley. The reality is that on so many policy issues, republicans may not be exactly on the same page as the Tech Community. A lot of the Tech Companies are with the president on keeping the internet as open as possible on the issue of Net Neutrality. Republicans are fighting the proposal of the fcc, fighting it in congress. Thank you so much, peter cook, our washington correspondent. Moving and shaking this hour. Sheldon adelson. Now that mitt romney has decided against running for president , Sheldon Adelson is happy to have him over for dinner. Romney has been give it at the coveted dinner seat. Sheldon adelson has made it clear that he likes mitt romney but does not think he is the best republican to lead the country. He give 15 million to Newt Gingrichs campaign. No word on who Sheldon Adelson will back next year. Jeb bush is now in the spotlight. He has been making the rounds, fundraising in new york city all week long. There he is. There was a 100,000 ticket event. Then there was a wall street breakfast. On politics i want to bring in my guest host for the hour, leo hindery, who has been a fierce democratic supporter on wall street. You have said that jeb bush might be a favored candidate with big business, but he has zero foreignpolicy experience and that is what is going to hurt him. Historically, there has been a schism between the women and men who run from the Congress Side of the equation and those who run from the governor side. Jeb bush has been stable as a governor. There is nothing in his resume to suggest that he is brilliantly informed on foreignpolicy. His father spent his entire life in the washington sphere which at one time he was head of the cia. His brother had the same issues. George w had no particular insight to the foreign side of the equation. So he brought in the neocons, wolfowitz, rumsfeld, cheney. You think jeb would do that again . I think we will find out where he stands on these issues based on who he hires. He is an able intellect. It is not a knock to suggest that his resume lacks insight to these complex for in issues area in his case, he will see more like his brother. I hope unlike his brother that he will not hire the neocons. He will be judged by who he hires in the next few weeks. Hillary. Are you liking what you are hearing so far . Im not the interventionist that mrs. Clinton is. You can get a little quick on the trigger. The mess we are in in the middle east today is a remarkable absence of geography history, and theology. These are complex regions of the world. Just because we are the biggest, most powerful nation in the world does not make us full of answers. What i have been concerned about with this administration the Obama Administration does not have great senses of history and theology and geography. It also keeps a very small circle of advisers. I was very disappointed that the president is not reached out to the great minds who are informed on these regions. He is prone to be an interventionist. This nightmare in syria is one of the great upsets ever. Too little, too late . When colin powell advised george h. W. Bush about iraq he said you break it on your own. Syria is a great example of that. Since 1973, syria has not been the maelstrom of the middle east , it has been elsewhere. When we broke it, so to speak and said, because well elect democratic institutions, youve got to go iran licked his lips, isis was created, and now you have this situation. Now you have this. It is a borderless conflict. Because Islamic State itself is borderless. Let me just stop you for a moment. You are sounding awfully more downbeat about Hillary Clinton then i would have expected. Hillary clinton brings a resume that is so well known to all of us since 1992. We have never had a candidate of any sort who has been on the front pages of our newspapers for 23 years and counting. I am worried about three things with secretary clinton. One is her sense of intervention. It is higher than i would like to see. I am also deeply concerned about her ongoing ties to wall street. I am more in the Elizabeth Warren shake your fist at them category. You cant state shake your 1960s hippie nest, can you . You can if you have a mansion on the hamptons. [laughter] we will be back with leo hindery coming up. More on politics later today. House ways and means chairman paul ryans its done with peter cook. That is at 3 00 p. M. Eastern time. That is a bloomberg exclusive. More on Cyber Security policy. Will the president have bipartisan support . We will speak to a republican congressman. It is 15 minutes past the hour. Rebel schelling has been reported around rebel held cities in the eastern part of the country. There are concerns about whether the ceasefire will happen. 1500 jobs will be cut in the russian can wing. The bank employs more than 15,000 people in russia. The ball of our bolivar tanks on the first day in the new forex system. As we mentioned, president obama will be hosting a wideranging Cyber Security summit. Heavyweights are missing from the table like Mark Zuckerberg larry page, and marissa mayer. Ceos are still reeling from the nsa scandal involving edward snowden. The president is expected to release a executive order about Cyber Security. Joining me now from washington is republican congressman will hurd, a former undercover cia officer, now above cover. Leo hindery is staying with me as my guest host. Ok congressman, does your president have your support on this . There are some elements that do make sense. Some elements are all going on but there are some elements that i disagree with. He is going to announce the creation of a new center. It is going to be additional bureaucracy. I think we should fix it by strengthening the existing elements. We need to increase cooperation through stronger Liability Protection for the private sector. That is missing, but i think there are opportunities for us to work together. There will be legislation that a think we can get to the president s desk that will be fine. I think this is one of those areas where i think we can work together. Is this Cyber Security thing just a thing that everybody was asleep at the wheel on . I think the congressman will to you that a lot of people were at fault. This initiative is six years old for this administration. When target got hacked and home depot got hacked, we did not care at a governmental level. It was pox on their houses. The sony action, small as it was, was the bridge between the National Security aspects and the commercial side. I dont care of larry page and mercer mayer show up i am more just in moynahan from bank of america. It is not going to be solved by google and facebook and yahoo . This is going to be solved by a quiet cooperative effort between commerce and america, the identities they can be hacked and pay a penalty. Congressman do you agree . Leo alluded to some very good points. There are Big Questions that we have to answer. We kind of understand a digital on physical attack. What warrants a digital on digital attack and what is the appropriate response . These are basic questions that we have not answered as the government and that is important not only to the federal government, but also to the private sector, as well. You just outlined something that to me is very scary, as a citizen of this country. His throwing 14 billion into the fiscal budget for the are going to be enough . I dont think we need 14 billion to answer these questions. Wed folks who have understood the nuances of these conversations to have conversations. I have been at the pinnacle of the information sharing game and i know what is available and we need to make sure we are pushing as much information out from the federal government to the private sector to make sure they are protecting themselves. I think there is a problem with overclassification of information. Liability protection is very important. That will give incentive to the private sector to share information. The congressman is so right. We dont need 14 billion. There are women and men in the commercial side of the economy and in National Security wing who can get this done. The congressman can get it done. Let me bring it down to a minute level. One of our organizations has been hacked. I know that my data was a part of that hacking. I am sitting there going, i know my information is out there. What do i do . You have a cyber team at bloomberg and there is a cyber team at every major commercial establishment. They just need to cooperate. I know there are people working to make sure that our data does not get into the wrong hands. How do i really know that . That is what is so nefarious for the sore and affected by it individually. What do i do . That is the first thing. You make it a commercial National Security initiative at once. Congressman, thank you so much for joining me from d. C. Much more ahead, king digital proofs it is a lot more than just candy crushed. Shares are soaring in the premarket. You are watching in the loop. Here is a look at our top company news this hour. The maker of the video candy creches proving it is not a onehit wonder. Shares of king digital are up 16 . Sales other than candy crushed rose in the last quarter, among them farm heroes and pet rescue. More things to waste your time with. Xiaomi is taking its first step into the u. S. Market. The u. S. Is a trendsetting market. We have new audiophile grade headphones, which is a beautifully designed, incredibly high quality stereo hifi headphone. We would love to get feedback on that product from consumers here in the u. S. It would help and make it better for the entire world. Apple has criticized xiamoomis phone saying they look a lot like the iphone. Lyft is in talks to raise 250 million dollars. It is struggling to get out of the shadow of its larger rival uber. Jon stewart shocked the world when he announced that he is stepping down as the host of the daily show. It is a big shock to Comedy Central and the Parent Company viacom. As the media giant faces lower ratings across all of its networks, many investors are worried that cable providers will want to drop the companys bundle of channels. We are joined by leo hindery. The managing partner at intermedia partners, my guest host for this hour. Earlier this morning, you are saying that one of our producers raised a very good question. Without jon stewart why is anyone going to bother watching Comedy Central . Jon stewart was much more than a half hour of onair talent. He was a focal point of a medley of programming of very talented talking heads. He was a talented farm. Colbert came from him. John oliver came from him. Comedy central, the entire Value Proposition today is that talk these late in the evening. When john leaves bad things begin to happen. The bundle concept is a larger debate. The viacom channels need to get some resuscitation here. For those who dont know the viacom channels, mtv, which had been a crowning jewel during the jersey shore days. Nickelodeon. Tv land. Who watches that . Ok. Folks dont value the viacom bundle is highly as they used to. There is data backing that up. We know that viacom sits along cbs as a genuine sister. Viacom needs cbs more than cbs needs fire,. The stewart exit is a big part of that. Ud value the Comedy Central franchise for a while. It is so interesting to see how powerful jon stewart was to Comedy Central and to viacom. 60 Cable Operators have essentially dropped the viacom bundle in the last year or so simply because they have seen struggling ratings on these channels. There was also talk that Cable Operators would schedule their contract talks with viacom when john stewart was on vacation, so that they would not have to worry about any sort of blackout threat. Some of that may be hyperbole but it just underscores how dangerous it can be and you can pin your hopes and your dependency on one person or one brand. Les is a programming genius. Some of the genius is missing on the programming side. To see them come together you are going to have to see a resuscitation of the creative side of viacom is the ceo of i come a viacom, he is a former attorney. I dont know if he is a programming guide. Leo he is very close to sumner. He will run his estate when mr. Sumner passes. Betty he says he is never passing, remember that . Leo i said to you at the break, this is the most interesting time in all the decades i have been in and around the media industry. The premise for decades was that all boats rose on the rising tide. We are seeing some boats sink when the tide rises and others go up. There is a lot of contrarian outcomes. That my success is now obviously your failure in certain aspects of the media industry. When you get these hallmark moments of jon stewart leaving, in the old days, it would be a moment in time, now it is a perilous outcome for viacom. Betty it now calls into question more about this cable bundle and whether that will be roque and eventually. The broken eventually. Leo i think the bundle is important. It is important that there are channels like cspan and nickelodeon and Comedy Central. And channels that target ethnicity, and target, and faith. They just cannot cost too much. The category that costs too much is sports. The women and men who are listening to us this morning without knowing it, without voting on it, are paying monthly about 30, 40 a month for embedded sports. It is not that nickelodeon is overpriced or Comedy Central is overpriced, they are being judged against the price of the bundle exceeding the capability of the audience. Betty comcast, time warner white out think that has gone through why dont you think that has gone through . Leo it is a logical, appropriate deal. Once it was announced once at t announced that it wanted directv at the same time, the challenge to the Commission Group grew greatly. They had to assist 2 macro deals. On top of that, we got dumped on Net Neutrality as a third issue. I think comcast time warner is appropriate. I am having troubles with my microphone today. The technology genius, bloomberg. It should go through. Betty it is just taking a long time. Leo it got mired in Net Neutrality. It should not have been. It got mired in the duality. Betty you are proNet Neutrality . Leo as i define it, i am very pro. I think that neutrality needs to mean three things that poor kids have as much broadband capacity as rich kids. It also should mean that people who provide Broadband Services do not discriminate against other peoples content in favor of their own, if they own some. Thirdly, it should mean that bandwidth hogs should pay the price. To think that that extrapolates in the president s mind making broadband a public utility is simply absurd. There is in a country in the world who agrees with our president on this issue. I came down a public utility this morning called lexington avenue and fell in a pothole that could have killed me. Broadband is the future of our economy, the future of our education system, the future of our infotainment networks, and to think it belongs as a public utility is crazy. Betty to be regulated that way. Where have we seen that work everywhere else . Leo nowhere. Betty we will try to fix your microphone situation. You are a you were a great sport. Betty we are an hour away from the starting of trading as the s p is near the opening bell. We were talking about king digital and candy crash, now we are talking about zynga . It is getting crushed. Right now it is plunging in premarket trading after seeing saying it will probably lose money this quarter when analysts had expected it to break even. Limited success in new mobile game releases means the stock will probably revisit its lows made in december. Lets stick with technology, free scale, the chipmaker primarily owned by carlyle and blackstone has hired bankers to explore possible sale. We should also mention that Cyber Ark Software it helps send off cyberattacks says that revenue forecasts will be topping analyst estimates. Semi conductor has this is yesterdays close. We should be looking at the premarket trade. Because of revenue recognition issues. Pretty broad phrases. I want to go brought here, and point out the strength we are seeing overseas that is contributing to our gains this morning. The dax, which has been considering setting new record highs has reached 11,000. Of course in greece, the ase gaining by more than 5 . Greek stocks are the right are rising the most among 18 western european markets. Discussions on a debt deal continue. Asian stocks finishing higher. Betty thank you, scarlet. Expect the unexpected. Central bankers could strike at any time for the good of their economies. I have a shortterm memory. January 15, Indias Central Bank ignored his calendar policy meetings to cut its curate. The Swiss National bank shock markets by abolishing its currency cap ignoring its own schedule. Along comes singapore on january 28, with its unexpected easing. China they will not be left behind. It joined the party of february for and this week, sweden unleashed unprecedented stimulus with a negative Interest Rate and tv. We are joined by a senior Portfolio Manager and chief equity strategy at a firm with 229 billion in assets. Under management. My guest post this hour is leo hindery. I have whiplash from going here and there and there with all of these Central Bank Moves around the world. Where is the next one going to come from . Bob there is whiplash, no question about it. The u. S. Has set the pace and many are imitating what the fed has done over the past few years. Recognizing in the u. S. It has given us much better economy than the rest of the world. Betty in a recent comment, i want to read both of you his recent column and what he writes. Central banks will have to back off eventually. The question is, how hard the global economies addiction to partial Monetary Policy fixes will be to break, and whether they can do this and it an acceleration of our currency a currency war. Leo i agree with bob, there is a volatility in the federal banks the federal institutions of the world that we have never seen before, not seen brenton woods have we seen that haphazard volatility. I think the larger question is going to have to be, are we going to get back to more stable moves, more predictable moves. If swiss move was unprecedented and destroyed a lot of traders. I do not envy people like bob who have to play this game. Betty how do you play this game bob . Bob other than try to buy low and sell high, i think we Pay Attention to companies that have lots of earnings in the u. S. You focus on companies that have positive Free Cash Flow and make sure your portfolio is geared toward the disinflation area environment the world faces. You will get more right than wrong in a world that is volatile. We got spoiled with low volatility the now that it is back to normal, it feels high. Betty is it normal . Bob if you look at most of the measures volatility for equity markets, the u. S. , it it is normal. The last three or four years being well below normal. When will it, down and get back to normal . That was not normal, this is. Thats ok. And the last 30 years, i have seen a volatility more to the upside. Betty lets a you do what you just recommended, consolidate, make sure you have companies that have exposure in the u. S. Make sure you find good Balance Sheet companies. Then what what keeps you up at night . Bob both of you just referred to it what will happen tomorrow that we cannot predict and what will that do to me . The issue of is there enough nominal growth is the inflation close to deflation in too many places. Our Central Banks behind the curve, like the ecb . Those worry me, not to mention the geopolitical list. Leo if you try to sit and bobs chair, take two companies rollsroyce and caterpillar these are wellmanaged thoughtful companies. One of them wakes up to an oil price that is down two thirds. The other one wakes up to currency changes that are off the charts. They are still well run and thoughtful companies. If i was sitting in bobs chair, i would have been proud to own rollsroyce and proud to own caterpillar. Son of a gun, oil drops 2 betty 3 to third and caterpillar cannot give that equipment away. Betty bomb if you are a longterm shareholder, a longterm investor, you sleep a little bit better than others . Bob i think that is probably right. The shortterm can kill you. You also focus on companies that are away from some of those trends. I would not own a lot of exposure to oil. I would not own exposure to a rising dollar. You can avoid those, what seem like directional moves that will probably continue. Betty mike mckee did an interview with Charles Plosser and i thought he made a great point as to why people are confused. Leo you are mention confusion in the media world, this is nothing compared to confusion in the markets. Listen to this. Clearly the fed has opted to keep a large Balance Sheet and begin raising rates. We do not know in some form or fashion, how fast we will have to raise rates or how the economy will respond. Everybody thought that when we quit buying assets after qe three that rates would skyrocket. They have done nothing but go down. I think there is a lot of unknowns. Betty the unknowing of the unknowns that are scaring all of us. Bob you have a Philadelphia Fed president is contrary to other members of the fed board. There is not cohesion within countries, let alone globally. The concept of the Multinational Company that would balance it self out through its diversity. In some cases has become a plague not a promise. Betty bob, you mentioned that you believe that a surprise around the corner may be that u. S. Growth outperforms the emergent Market Growth . Bob not out of the question that we could have a u. S. Economy that has faster growth than the emergent emerging markets. The u. S. Is operating on more cylinders. It is not perfect, but, between the Employment Situation the decline in oil, the rise in net worth, you consumers in the u. S. Are doing well, spending money and the opposite problems with the rising dollar and lower Commodity Prices are plaguing many of the emerging markets. Betty it is a good time to travel abroad. Bob no question. Somebody said should i make the exchange for my Summer Vacation now or wait . I said, do a little of both. Betty bob, thank you very much for joining us. Take you to leo hindery, my guess is for this hour. Take you for joining me. Bob have a good weekend leo have a good weekend. Betty i company benefiting from the u. S. Economy, former google executive alan masoretic now the ceo of a bondage will be in the loop a bondage will be in the loop. Betty lets take a look at our world news headlines, yemen on the break of civil war, that warning from the u. N. Germany and italy close their embassy after the u. S. And u. K. And france shut theres earlier this week. She had rebels have taken over the Central Government and half the countries provinces. In venezuela, antigovernment processors have clashed with police. Protesters set up barricades and blocks and threw molotov cocktails. Police responded with tear gas and rubber bullets. Marchers were held to mark the anniversary of the protest that killed 43 people last june. The euro zone economy grew by a stronger than expected 0. 3 . Germany reasserted itself as the driver of growth while weakness remains in italy and greece. That is the latest world news at this hours. The final numbers were in and it was a year to forget for automakers. Plus, something you have not seen as your, oil trading for 60 a barrel. Betty todays big number is 64 million, how many cars the u. S. Auto industry ended up recalling in 2014. It is twice the old record. General motors led the way with 27 million. Almost 3 million small cars were recalled he goes a faulty ignition switches clear it 52 deaths. It was a year to forget for automakers. Coming up, we take you to the nba allstar tech summit happening in new york. We will talk to the president of turner broadcasting and a top player from the golden state warriors. The snp is in record territory nasdaq has not been this high and almost 15 years. We will check in on the market you are watching in the loop. Betty welcome back. We are 30 minutes away from the opening bell. A look at our top stories. Futures indicate stocks will be higher at the open. The nasdaq is at its highest level in almost 15 years. There are signs that both sides are willing to cover mice in the greek bailout talks. The new Prime Minister of greece says he is seeking a new contract with his euro area creditors. German officials indicate that chancellor Angela Merkel will not insist that all elements of the greek Austerity Program be carried out. Here is something we have not seen in a while, 60 oil. It is up more than 2 today. Oil is headed for its Third Straight weekly gain. Speculation that a decline in u. S. Drilling will help curb the global oil what appeared xiaomi. Xiaomi is coming to the u. S. , but not to sell smartphones. It will sell items such as power chargers and headphones. Here is their vice president. We are planning to sell single products, accessories products we can easily bring to the market because they do not require certification and the localization. Just because they dont have many resources. We want to get in the feedback loop with consumers in the u. S. It is very important to us. Betty apple has criticized them in the past saying its phones have a similar look to the iphone. We are under 30 minutes away from the start of trade. Lets tell you down to the opening with the top headlines. Matt miller and alix steel joining us. Lets start with this story. Strawberry prices are down for valentines day. Prices dropped over the last two months. Highs reached an average of 3. 50 for 12 ounces. What you might be saving money on strawberries, chocolate is going to cost you more. Cocoa prices went up. Alix cocoa prices could be falling because we are seeing these weak demand across the board. Asian demand was down 17 european demand down 7 . The grindings, you take the cocoa and grind it, that is down highlighting the weaker consumer demand. Matt 3000 a ton that sounds like a good valentines yet. I do not understand why strawberries since when are they a big valentine gift . Betty i am with matt, where our diamond prices . King digital, the maker of candy crash saw shares jumped as much as 21 after yesterdays close, a good sign that the company is diversified. It is not looking good for zynga shares dropping 4 . Matt apparently, candy crash other games we cannot say that. They are selling a lot more other games than they are candy crash. King digital is. They have another farm game and a pet game that people are playing. 364 million in revenue for a total of 560 million. That is impressive. Alix this is one of the most shorted stocks. Betty king digital is. Alix you could make the argument that the huge jump is about that. Matt a lot of shortselling is not bad if you are long on stock. The stock is down 36 since the ipo, then, boom, up 21 . Betty i was watching a woman play candy crusyh. If you do not play the game, it is bizarre. I do not want to play the game, because i do not want to get addicted. Matt it is very easy. Betty number six, American Express tank after news the company is breaking off a 16 year relationship with cosco. Amex will spend money for marketing a reward program to expand other parts of the business. We just had the store yesterday that amex is losing its sheen as this card for affluent consumers as it is trying to diversify. Matt who wouldve thought affluent customers needed to go to costco. . Alix you are going to compare it to bjs . Matt it is 20 of amex spending is that cosco. 10 of amex cards are the cosco cards. It is a big chunk. Alix 70 of the money they make come from outside the store. You use it elsewhere and it is that revenue that will be coming under pressure. They have to have more rewards cash back, which means more outlets. Betty Warren Buffett is the biggest shareholder and he saw his shares down. Matt alex monger is the vice chair of berkshire and amex is one of his biggest holdings. Betty coming up, the nba tech summit is underway, head of the big allstar game in new york. David levy, the president of turner broadcasting will be joining us, next. Betty we continue to count down to the opening bell, halfway through, it is time for our deep ive. Game time at the annual nba allstar tech summit in new york city with some of the biggest names in media and sports are gathered to discover the latest in Digital Trends and innovations. Stephanie ruhle standing by with david levy, president of turner broadcasting. Take it a way. Taken away. Allstar weekend is more than a game. Give me an example of the breath of the coverage you guys, tv and digital . We are covering this on nba. Com, nba tv, tnt, we are simulcasting the allstar game on sunday on pbs and at t tbs and tnt. We are having a fashion show with supermodels and nba players being judged by Charles Barkley and kenny. Kevin hart doing back stuff behind the stage at the fashion show. A lot of things. How much bigger is the allstar weekend because it is in new york . It steps it up here in new york is the mecca of basketball. Even know the teams do not win . They are having a tough couple of seasons, but this is where people come and Madison Square garden is where people think about basketball. Now we have the new Berkeley Center in brooklyn. It is exciting, going to two different cities and two different places and getting everybody high cap. Height up. D. C. Yourself making turner a destination where you will be streaming . You can get the games anywhere, you can stream and get the game for tv everywhere. Bleacher report is covering in this. Nba cut. Com is covering this. Would you go directly to consumers . Eventually. I think that you will have people that never sign up for cable. You will have court shavers which reduce, go down and take a smaller package. We have to address consumer situations, not to hurt our relationship with Cable Operators, but to figure out a way to live some of your competitors are over the top. With this very package, you have been there a long time. It has been over the top four years. I think you were talking about the turner properties. We are part of the sling tv package with dish, five of our networks, are part of it. It is not affecting the day today. I need to be in the smaller bundle packages as well as the larger i could. Where would you rather be, sports, with the acquisition cost, or could you come up with a walking dead of your own . Cat i have it all . Sports is live. No one watches the super bowl on monday. Between the slamdunk competition and the allstar game, people will tune in and watch the live event. That is something you cannot replicate. Sports drives subscription revenue, penetration for your networks, advertising dollars, and works on mobile and any other device. Is there no limit to what you will pay for sports programming . Those numbers keep getting higher, when does it not make sense . The cost does come down, i have my time warner bill to prove it. I cannot say what time warner will be charging everything we sports the a we do at turner, you have financial responsibilities. We believe every deal we have gone into come at the end of that deal, we will make a profit. I did through our digital assets, mobile assets subscription revenue advertising dollars, our offsite stuff like the Fashion Shows and even marketing we do with our advertisers. You figure out how to bring in all of it and make money. What is the next big sports package that you want to bring to tbs . We would love to bring back the nfl if we could financially. Hopefully that package becomes available at some point. Realistically, it will not become available . I hope so. The network in the past, nbc gave up and jumped back in. They see the value in the nfl. Nfl is the largest way to a teammate and audience. It is probably one of the best Sports Properties from a standpoint of ratings in the business. Bell and rogers, they brought bought the team to drive mobile products. That is where we are headed . We are focused on mobile. These devices that everybody has, this is where you will be able to communicate, watch content, and we do not look at it as television, we look at it as video screens. I do not mind the Television Business im in the content creation and distribution business. Is an everybody in the content business . At some point we have to say that some of it is not that good. Some is, some isnt. Hopefully the premium content developers will win. These devices do not work without great content. If you take a look at the social scene, what are people talking about . The grammys, the oscars, the super bowl. Those are all television quality events. A lot of these devices that are working in the social communication is about the things on television. Is the cable operator getting nervous . You do not need them anymore. Used only broadband. You still need other things than just the video screen. Cable operators are thinking about how they will make their new dollars. Are ad revenues dropping because there are too many screens, options for advertisers . Advertisers are getting more in target marketing. They are trying to seek the right place to put it, and it is not just 50 of your advertising works and 50 doesnt. Thank you, so much. Nice to meet you. Betty liu, we will send it back to you. Betty david levy, the president of turner broadcasting, neck hour, tune in to see discussions with espn president and Boston Celtics owner. Merger mania, activist investors on the impact of those socalled tax inversions. The those Falling Oil Prices crude is now on a threeweek long winning streak. Betty our global markets, the euro extended its longest run of gains in almost a year. Those figures showed germany expanded by 0. 7 . Stocks rose above 11,000 for the first time in germany earlier today. A quick look at oil, brent crude has climbed above the 60 mark for the first time this year. Because of speculation the u. S. Is seeing a decline in drilling because of those lowwer oil prices. The most important stories. Alix steel, matt miller, number 4, the ride sharing drag race. Lift in talks with investors to and raise 250 million. They struggle to get out of the shadow of uber valued at 40. Matt miller was a lyft driver. Matt i was in an aston martin for a day. If uber is an aston martin, then lyft is a volkswagen polo. Lyft is doing these capital increases of it is nothing to sneeze at . Isnt lyft gaining market share . Revenues quintupled in their biggest markets. It is a different kind of thing. You are going to raise money we will raise more money. Their offices are a block away from each other and 80 subversive things. They do care about lyft. Betty Hedge Fund Billionaire bill ackerman discuss everything from his interest to mcdonalds to m a activity this year. Bill whats interesting about the antitax inversions regulations, it will push more midsized pharmaceutical companies to sell to foreign buyers. Foreign buyers are more likely to take the headquarters offshore than a u. S. Buyer in birding into a foreign company. Betty that is in insisting take. Matt serves us right to have a horrible attack structure in this country. Alix it is a little different than what we have seen. Matt the point is, business moves elsewhere. If you have an unfair tax structure and Different Countries have better tax or more fair tax structures, then capital will flow to those countries. Betty that is subjective. Alix i got dinged. I want to talk about oil. Betty greece is seeking a new how to continue its bailout as talks resume and both sides signal willingness to cover rise. Youre meant european stocks are on the rise. It only takes a 0. 7 rise. Matt jim rickards was on yesterday and was saying mutually destruction, germany has to make a deal if greece fails it will be a lehman moment. If they leave the euro, it will be the end of time. I do not believe that. Germany doesnt seem to have to make a deal. The dax goes over an alltime high doesnt seem like investors are worried about germany as opposed to the situation that greece is ina. Alix the longer it takes to make a deal, you can get money from the international bank, it will be for six months. That puts the kabbalah on any hope for greece to finance itself. Betty i would agree with mac except 0. 7 if there were more of those numbers consistently, then germany and the rest of the eurozone could survive a greek. Matt there are a lot of numbers to the eurozone. Lets get a check of futures matter. We are set to open slightly higher. Betty welcome back. The most important stories. Matt miller and alec still joining me. Number one crude on the rise. Oil climbing above 60 a barrel or the first time this year. The snp heading into record territory again. Oil following moving in tandem with stocks. Alix permian productions will be up almost 30 in march. It offered up 30 . How do you see declining production when you see the three main seals of share with doubledigit protection production . Betty i thought there was supposed to be mass that. Matt there were 100,000 bodies out of the oil patch. Alix the producers get to keep drilling for less money. If you can say, hey you fired all these people i want 20 reduction, they will say, ok. Saudi arabia lowered the entire cost. Betty i want to ask alix where do you see oil . Alix from all the stuff i read, it is hard to make a case for how oil can stay this high for this long. I would suspect you see another downdraft before a rally. 60, you will see prices go awesome. Matt what is your reaction to edward horses 20 reaction . Alix he goes down. Matt are people skeptical . Alix i do not know about the actuali do not know about the actual call. You will see some volatility. Clifford the red dog. I want to bring in doug chief market strategist. A all the strategists we have had on, and i noticed you not us you had that noticed you nodding your head when out when matt was seeking. I noticed you nodding your head when matt was speaking. You are at 2200, kind of hard to read the numbers here. 2275 for adam parker and 2350 for Michael Burgess michael purvis. We look at corporate earnings. We are at 130. That gets us to the 2200. With dropping oil prices really hitting the energy sector, we are seeing corporate earnings come down. That ratcheted down from 9 to 3 . I think you are going to see the outcomes you are going to see from the Consumer Discretionary and anyone who supports the energy sector. We had to be modest in our price target. 130 is still an alltime record corporate profit. At 120 . They are in the Fourth Quarter for the year. Next year will be 7. 5 . 7. 5 with price target. What is the price target between price correlation between oil and stocks . I believe the historic connection will break down. We went from a high oil regime to a low oil regime. I think 20 oil is nonsense. We are going to stabilize to 68. It should have been here for years. We are the numbers and number one producer in energy. We think this normalizes. Ultimately it is good for the consumer that 70 of the economy in this market will continue. You said you are the lowest forecast of oil on the street. Everyone said oil was going up and you are the only one who said it was going down. Now the pendulum swings too far. Its going to be about 68 where it should have been. You where a contrarian in last year saying oil will go lower, now you are contrary in this year. At one point do they bring in that dreaded deflation . There is good and bad deflation. Every time you go to the pump and for china and the emerging markets that are heavy users, it really helps them. A lot of subsidies they do not have to do the subsidies anymore. I think every dollar drop ads about two point percent as about 2 adds a two point percent drop to gdp. We are going to see an enormous benefit to these oil countries. What about the argument that there is still drilling going on from the three shale areas . Is that going to depress oil prices . Everyone is worried about low oil. Fracking is a technology cycle. They know where the oil is. The cost basis is going down. They can still make profits at 68 oil, may be lower. There is going to be some dislocation, a lot of Energy Products that were overdone. Great to see you. The trees the chief martic chief market strategist. We are going to keep you updated on the early movers this morning, including some downgrades. Fema consumers in the retail sector. Shares of the internet phone company vonn it may be up big in the last couple of months. We are going to talk to a new ceo about how he is taking his experience at google to this much smaller enterprise. We have now hit another record closing high for the s p. I want to get to our chief market correspondent scarlet fu, looking at some of the big movers. We are going to start with a pair of retail downgrades. The reasons why deflationary pressures in the u. S. In the nonstop promotional environment here in the u. S. , and on top of that the strong u. S. Dollar. I am also watching Cyber Security stocks. The white house summit on Cyber Software security represent a step forward for these companies. He estimates a 20 increase in Cyber Security spending. Some of these names getting a big lift. Near a bit of 150 per share for that company. Apparently an increased appetite for m a. 5 billion of cash on hand. And reportedly in late stage talks to buy applegate farms. It could be announced as early as next week. Our chief market correspondent. We are above the record closing high on the s p. We have been talking about it all morning long. I want to take you back over to the summit happening ahead of the weekend event. Joined now by a top player at the golden state warriors. We appreciated. We appreciate it. It is more than just a basketball game. It is a lot going on. I think the nba has shown the likability from the fans not just within our country but internationally as well. I think players are becoming more Business Savvy and understanding that not only the nbas brand is getting bigger but the players brand is getting bigger, so there is more emphasis on how we can maximize our time within the game. And matching with the right people are one of the reasons you are with the golden state warriors. These guys know about content creation and distribution. There are so many tech groups and firms at your disposal. As players become smarter and smarter we are understanding where the game is going. And we understand that in order to be within it you have to understand it. It is a great place to be. What are you actually doing in technology . There are so many things that Sports Technology are merging together to better both ends of the spectrum. And the wearables are a huge hit with the players now. What do you wear . Eyewear i had a sweeping problem. I had to carefully watch how the right temperature for my shed from a bed, for my sheet. Eyewear it to mark my steps. The right temperature for your sheets . I was going to sleep about three or four hours per day. I wanted to fix it. I was so sluggish for some games. I was feeling good for other games. I wanted to be more consistent with everything. Have you seen adding technology to your game as it improves your playing . I think it has. Just from a energy standpoint. You want to have a kind of sense of a guarantee. Everything may not go my way but the efforts and energy are going to be there. 90 set 90 of the game is mental. Do you get the sense that they have woken up and can claim their brands . Has this helped them to understand the powers within . They dont need anybody else to do it. We still need each other. There is a power we are taking full advantage of that right now. And not waiting until retirement. Things happen for a reason. Players waiting to retire to try to figure out what they are trying to do. We understand that our power we have that power when playing basketball. Got to take full advantage of it. Our power lies with betty liu. Our power lies with betty liu. Thank you guys. Still to come we are going to be joined exclusively by the bondage and ceo google executives for a look at their fourthquarter results. For vonage, life after google is looking really good. A massive patent tile in his back pocket. Alan is ready to battle the giant. His company, which delivers phone services over the internet, just reported fourthquarter results with shares up 3 . Alan, great to see you. I notice that you opened your conference call, saying im going to answer the first question i get as i have been traveling the country, which is why did you trade warm and sunny california. It is a beautiful eight degrees. It was quick office. We built the Large Company we joined google to oversee the integration. While there were other opportunities and when vonage came along, it was just easy to accept. As the first thing you notice about bondage is the brand. About bondage is the brand. About vonage is the brand. There are a lot of underappreciated aspects inside vonage. You have this consumer business, which is very profitable. In the last year and a half move aggressively into the Small Business medium sent to death Small Business sector. It is an on premise small its on premise phone system. You want to take the enterprise side of the company and keep it bigger. You are head of Google Chrome and other big products. I was a director in the apps space. Also into android as well. You must have been getting phone calls all the time. Google is a terrific place. You do get opportunities when you are there. Google is all about the employee i tried to bring in the initiatives we called employee first. Culturally we are going to be able to move on. I like to describe it as a spring in their step. Thats clearly something you have gotten from google. You were able to really hone it at google. Tell me what are the other aspects that you are bringing in to von h . This culture on the employees, the cold the focus they also have this focus on the consumer, on the customer. Everything is Customer First in that sense. Thinking about how we bring real true customers and doing that sort of thing. The other thing they are known for his talent. We just recently hired a director of Talent Acquisition trying to define what ivanovic employee, the next set of lunch employee will we are growing. Those are going to drive the company forward. What are you seeing with Small Businesses . What is the economic thing you are feeling . We define it as one to 1000 employees generally. The telephone solution is moving to the cloud. It is moving late to the cloud. We are seeing email and productivity in storage. That switching system that sits in your closet and Small Business works really well. What has happened is as you run out of capacity you are going to go to cloud. You are seeing a very fastgrowing segment and we cover the full range. We have made teed up acquisitions in the last 15 months. We now have a revenue base in Small Business that is among the largest pure play public competitors. The reason is we have the best brand in the industry and the lowest cost. We are just stepping on the gas as hard as we can in that sector. That doesnt for us today. Next week the chairman of Red Apple Group is joining us. We are 30 minutes into the start of the u. S. Trading day. Lets give you a snapshot of the asset classes. Germany breached 11,000 for the first time ever. Approaching its 54 resistance level. Oil has seemingly stabilized even as the dollar holds at the best level in near than a decade. Joining me now they look at the Exchange Rate fund is etf analyst eric this is for usbased investors. That is the whole point these are called currency hedged etfs. If you look at currency edged etfs, they make up 5 of the International Focus etf asset. But they are accounting for 95 of all inflows. It has been going on for a while. They have been growing from 3,000,000,030 two years ago 231 billion today. All of these Central Banks our purpose purposefully devaluing their own currencies but when you are investing overseas and take your gains and convert them to dollars you get crushed. These aluminate the second part of that and allow you to invest in the local shares as if you are standing in that country. I call them surfboards. They are perfectly positioned every time there is a rate cut. Lets go in the wisdom tree european hedged equity. The etp doing stimulus. The one that doesnt hedge is up 3 . It is up 16 versus the unhedged. They get to be 20 in some cases. This one just reached 10 billion in assets. What are the risks . If the dollar weekends, it will flip the whole situation. There is a lot of tactical money going in here trying to ride this until it is over and they hop off. I think it is compelling for a longterm allocation. Most Peoples International investments are 100 with the dollar obviously the volatility goes down. You dont want this to be the entire way you are exposed to an international company. It looks like there is no end in site. I should mention the s p 500 set an alltime high. Our oversee stocks valued better right now . A little bit. You will get germany, having a great year. In u. S. Dollar terms, it is a 4 . A lot of the stock markets are having great years. They dont seem like it. The valuations are pretty decent, and that is why investors do want to get over there. Senior etf analyst with the central bank surfboards created Market Makers is up next. Welcome to Market Makers, i am stephanie ruhle. I am not in studio today. I am in midtown manhattan. It is nba allstar weekend. I am at the nba technology conference. We have a lot to cover. We have some breaking economic data. We are going to send you to headquarters where Michael Mckee has more. It has been an interesting question for the fed why did retail sales come in so badly . Consumer confidence is it as high as it was. Falling back to 93 point six from 98. 1, analysts had forecast of a 98. 1 reading unchanged