More on his life and story at oracle. And making the rounds a day after telling georgetown students and faculty he wont Police Political speech, Mark Zuckerberg talks to political outlets. What he had to say. First, our top story. Weworks valuation sinking lower. We have learned that softbank is putting together a financial play for wework. It may value the company below 8 billion. That is a fraction of the valuation it commanded as recently as january. Since its initial public offering, they have been considering plans from softbank and j. P. Morgan chase. A partner from manhattan vendors, and sarah mcbride, who has been tireless on all things softbank. What did we learn about this new valuation . Lower thans even expected, around 8 billion, and as you said, that compares to around 47 billion at the start of the year. A huge drop in under 12 months. You take a look at 8 billion, are we close to fair value . Andrea i think we are. Overall, something i like to consider, being in a late
Than 450 cases of vaping related illnesses along with at least six deaths reported in recent weeks. We are getting some stories that we dont want to hear. And we may very well have to do something very strong about it. President trump thank you. Reporter staunch democrat david a San Mateo County supervisor that this ban might be the beginning of the end for ecigarettes. What you President Trump did was put an industry on notice and probably shut it down. It might make you feel they are not so harmful. If something taste so good like juicy fruit or bubblegum will could be bad . Reporter director of the Health Department said they recently finished a comprehensive survey of 4600 middle and high school students. One in three students has tried ecigarettes. 13 of students use them regularly. 80 of those regular vapors use flavored ecigarettes. If you take the flavors out of ecigarettes you may just sort of take the helium out of the balloon. Reporter the American Vaping Association release
The grind t higheray was quiet but strong. Here are the closing numbers. Th Dow Jones Industrial average rose 227 points. To 27137. The nasdaq was up 85 and the s p 500 added 21. But there is a lot more tohe market than the numbers suggest. A close look under the hood showsig changes taking place and money is starting to flow intoectors that investors have been avoiding for a while. Bob pisani at the new york stock exchange. A lot of talk about a great rotation taking place. But what exactly are we rotating out of andinto . There is confusion about different ways to slis and dies the mechanic. Lets try to sort out some of the differences. First, cyclical verses defensive stock. Since bond yield bottomed last weeks. Checkically sense i have like banks, transportation stocks, energy, retail have all outperformed. These are call cyclicals because they tend to better when the Global Economy is imoving. Nef lagged most of the year on concerns that Global Growth slows. At the same time defen
Apple ceo tim cook the stage in cupertino tuesday, unveiling new Iphone Models with new colors and three cameras. Details on those products and more like the apple watch. And linking up, we check in with linkedin ceo jeff weiner and his thoughts on the Company Three years after microsoft acquired the job listing site. We begin with one of our top stories. Oracle announced wednesday mark hurd, the ceo, is taking a leave of absence for health reasons. This after the company disclosed the move along with Quarterly Earnings earlier than they said were to be released the company did not specify what issues hurd faces were how long his leave will be, but the executive chairman, larry ellison, released a statement saying, oracle has an extremely capable ceo ending the extraordinarily deep team of executives, many with long tenure at oracle. We will cover marcs responsibility during his absence with support from the rest of our strong management team. I spoke with our bloomberg Senior Intellig
And linking up. We get an exclusive check in with the linkedin ceo. Jeff weiner. His thoughts on the Company Three years after microsoft acquired the job listing site. But first, to our top story. A late developing shakeup at the top of oracle. The ceo is stepping down for health reasons. The company did not specify what issues he is facing. But executive chairman released a statement saying oracle has an extremely capable ceo and an extraordinarily deep team of executives, many with long year tenure. Joining me to discuss, Bloomberg Intelligence Senior Analyst in new york, and with us, Global Executive editor tom giles. Thank you for crashing on this. How surprising was this announcement . Tom as far as his leave, there have been signs over the last year that he may not be unwell. What was not expected was the announcement to come today. And because they had not announced until now, there was a question mark about whether they would and whether he was getting well or not. It took us a