All of that and more ahead. First to breaking news. Etsy is out with its first earnings report. Shares are plummeting. The company is warning currency values may hurt buying behavior outside the united states. Etsy has had a bumpy ride since its ipo a month ago. Shares have lost a lot of value. They are down 30 from a 30 high on april 16. On top of all this they have been hit by a lawsuit. Accusing them of selling counterfeit goods. I bring in leslie picker to being in the numbers. What is the take away today . It seems surprising. Leslie the rule of thumb is when you have an ipo, make sure you have one quarter of earnings in the bag. That is not what etsy did here. As you said they missed on earnings. Revenue came in almost exactly where analysts were estimating. This is something for a company that has already been overvalued relative to peers, missing firstquarter earnings is not a good sign. Emily how big a problem is the currency issue . Leslie its interesting because during their