Look how much its up, 4. 52. Thats 6 1 3 right now. Whats next for facebook . Skys the limit. And a luxury car theft ring. Range rovers, mercedes, beamers, audis, lexus, suvs and more. Youll never guess where these cars are winding up and how quickly they can go from your neighborhood to where theyre going. Sue is out today. Sara is in at nyse. Good afternoon. We are starting the hour with one of the major themes of our exclusive interview with president obama today, tax inversion. The pharmaceutical sector has certainly been an industry in the spotlight of this debate. Meg terrell is live in the news room. Plenty of deals here, meg. Were looking at 19. 5 billion. Thats the estimated loss if aversion deals continue. Inversions are setting a record pace, nine deals have already been agreed to this year by Companies Including medtronic and chiquita brands. Overseas cash piling are growing and now estimated to be about 1 trillion. Companies dont want to bring that money back to the United
Behind. Lets check in now first with sue at the nyse. Hi, ty. Stocks beginning the week on a down note. That follows last weeks big selloff. Still some fears about corporate profits persisting out there but we are seeing a bit of a rebound in technology which of course was key in last weeks selloff. Well see whether or not it can maintain its leadership. Bob pisani joins me on the floor of the nyse. Not unexpected that we would continue to see a little bit of selling but it certainly doesnt have the pressure buildup. Are we at a bottom in earnings at all. Its still out. Whats encouraging, tech stocks, a horrible week last week, a lot of companies disappointed, microsoft and ibm. A little bit of stabilization here. Thats good to find some kind of bottom. Ibm has stabilized, but General Electric hasnt. Were down again today after some disappoint yesterday. One of the biggest volume days ive ever seen in General Electric on friday. Heavy volume again today. Down almost 7. 5 . Ge in two da
Yahoo due out moments from now and apple reporting later in the week. We should note that cnbc and yahoo have a Business Alliance to share and coproduced editor al content and well break down numbers when they are out. Profit at yahoo of 25 cents a share. Texas instruments also on tap with expectations of 46 cents a share on texas and 3. 34 billion on revenue. Good to see you, gentlemen. Thank you for joining us. David, you say this could be another up and down week for stocks. Any thoughts on why we had this reversal at the end of the day today . Its exactly that. We had an up and down day. I think the basic point is that it is a very tough earnings season because its really a very slow Global Economy. Its not a Wonderful World right now. Slow Global Economy with dollar going up over the last year. Thats hurting earnings. Against that you have the fact that with rates this low, people need a better place to put their money. If people cant see a disaster, theyre buying the dips. Thats
Starter the year. Susie how about in terms of ad sales. On the call, they said that google is running on firing on all cylinders, to quote them. Can google build on that momentum . Yes. I mean if you look at their positions and other major geographies, and the fact that theyre handling the transition to mobile search fairly well, it seems like theyre in pretty good shape. One thing i point out is that the cost per click, which is metric, which a lot of investors have focused on, was down again in the Fourth Quarter, but the declines have gotten better in each of the past threequarters. Down 4 if you exclude currency in the third quarter, and down 12 if you look two quarters ago. That should help them with their momentum in 2013. Susie you mentioned mobile, and is there anything more about googles mobile strategy, and have they figured out a way to really ca capitalize on google mobile searches . Mobile is helping the volume of searches theyre getting. Their average clicks were up over
Starter the year. Susie how about in terms of ad sales. On the call, they said that google is running on firing on all cylinders, to quote them. Can google build on that momentum . Yes. I mean if you look at their positions and other major geographies, and the fact that theyre handling the transition to mobile search fairly well, it seems like theyre in pretty good shape. One thing i point out is that the cost per click, which is metric, which a lot of investors have focused on, was down again in the Fourth Quarter, but the declines have gotten better in each of the past threequarters. Down 4 if you exclude currency in the third quarter, and down 12 if you look two quarters ago. That should help them with their momentum in 2013. Susie you mentioned mobile, and is there anything more about googles mobile strategy, and have they figured out a way to really ca capitalize on google mobile searches . Mobile is helping the volume of searches theyre getting. Their average clicks were up over