A blowout session in shanghai overnight. Best single day gain in more than three years on a pretty decent pmi. Europe has also been a blend of red and green as the ft names ecb chief the person of the year. Were going to kick off with breaking news. For that would, we go to david faber. News on best buy, in the news yesterday. The stock up sharply. What we can tell you right now is the board of directors of best buy, and its founder, richard schultz, has been trying to put together a group to essentially buy the company in a go private transaction, have extended the deadline in which he would need to come with a bid for best buy and created a window in fact that will begin on february 1st next year and end with the end of that month on february the 28th. Giving schultz the opportunity to look at not Just Christmas sales, but the end of their fiscal year, which will end at best buy on the 31st of january. And that window, again, will be 28 days long giving him an opportunity to continue
Companies are using twitter to disrupt all sorts of industries. First, a check of your top headlines. Journalist len greenwell, who broke the Edward Snowden story, is launching more accusations against the nsa. In his new book, greenwall claims the nsa routinely intercepted networking equipment before to plant backdoors indiegogo. Eimpanies like cisco and huaw say they are not aware of the practice. Microsoft has introduced a lowerpriced option for the xbox one console. Motion not include the sensing camera and costs 399. It brings the xbox one right in line with the Sony Playstation four, which has been outselling the results product. Googles Motorola Mobility has introduced a new smartphone. Is aimed at emerging markets and will start at 100 29 without a contract and be available in over 40 countries. The previous low tier phone, the moto g, is being upgraded to run networks. Google is selling its motorola handset business to lenovo for two . 9 billion. Our lead story, a game changer
Gavin hello, and happy new year. Thank you for watching the show. We start the new year with topics that i think are heart and soul of the show. Ideas, innovations and solutions. We brought in trail blazers to kick off 2013. They may not be household names but theyve all come up with products and solutions that im sure youre familiar with. JeremyJeremy Stoppelman with yelp. Clara shih with required reading at Harvard Business school. And shes founder of hearsay social. And youre probably at one time a sharer of box. Com. We begin with Jeremy Stoppelman, the former Vice President of pay pal, and cofounder of yelp. Where did the name yelp come from . Yeah, we set out to create just this new internet site to finding new businesses. What would be a good name for that . What about yelp. Its like help, its like yellow pages, and its memorable. I had a bad idea. What was that . Yocal. Just a terrible name. It could be misspelled. But i thought being smart with y yockal. Gavin is it true that
Welcome back welcome back to squawk. Lets get back to our guest host mark zandi who has the last word. All morning ive been talking about the next couple of quarters and i sound dark, and i dont mean to. I am very optimist being. What happened to the last two hours . You forced me. In the next couple of three quarters we cant look past that that i do think we have issues in the next few months, but ill give you one more last statistic. Every housing start requires five jobs for one year and Housing Construction will double in the next four years. Thats great news. Mark zandi, thank you for being here. Thank you. Steve. Thank you for being here. You dont look like joe kernen. I definitely dont look like joe kernen. Squawk on the street joins us right now. Good monday morning, good monday morning. Welcome to squawk on the street. Im melissa lee with, and lets see how well open for four Straight Record closes for the dow and it looks like the street may be pointing to a lower open. As for
Salesforce AI CEO Clara Shih compares today's AI development to the early internet era of 1988, predicting a major breakthrough. AI is currently automating tasks and evolving much like the internet did.