Have received 50 more pay. And the widely anticipated movie 50 shades of grey hitting the silver screen. Already breaking Box Office Records in europe. Could have a big valentines day weekend. Universal is part of the comcast family. In the meantime lets go to michelle with a check on the markets at this hour. Yeah lets take a look at the u. S. Futures following yesterdays 100 point gain on the dow and the nasdaq at a 15 year high. Strength in europe feeding into the u. S. The numbers suggest the dow would open higher by 33 points we want to bring your attention to the european markets. Theyre on track to end this volatile week on seven year highs. The german dax crossing the 11,000 mark after germany gdp numbers came in higher than expected. Greece however weaker than expected. Well talk more about that later. Shares of conagra tanking citing a strong dollar and weak sales. They are also appointing former chief Sean Connolly as the new ceo ceo. Kraft is switching up the ranks. Its cfo and other Senior Executives will be leaving the company. Also reporting a loss of 400 million and stock falling on the news. Shares of aig dipping after reporting profits of 97 cents a share versus expectations of 1. 5 a share. We have a tale of two gaming companies. King digital scoring a major beat earnings 57 cents topping estimates at 10 cents. Also shares of candy crush maker spiking on the other end of the spectrum and shares of zynga fumbling after they reported earnings and revenue that fell well short of expectations and groupon topping earnings as well but the forecast missed the expectations and theyre citing unfavorable impacts of Foreign Exchange rates. Well show you the other key markets in the morning. The price of oil at this hour is higher for wti. We were at 50 yesterday. We were coming off the bottom. Brent is at 60. 34 per barrel. The ten year yield, this is interesting to to watch. 2. 00. So if you look to the right hand side of the chart the move has been higher even though not much head way yesterday. The dollar we have been talking so much about it in the wake of the Earnings Report and its impact is weaker across the board this morning. We saw that yesterday too. 114 for the euro. 118 yen for every dollar. Pound is going to cost you 1. 50 5 3. The 1. 53. Back to becky and joe in pebble beach. You have a line up this morning. I need to hear joe about your playing. Seema said he got a 69. That would be an amazing score if that were true. Is that true joe . Were still trying to figure out how to spell qe. Can you give us a hint . What does it start with . What does it start with . Q. Its a mixed metaphor. How do you spell qe. It is qe. It is. Its complicated andrew. You know its i have a partner. So we shot 69 together. Its really not very good. Theres people are you blaming the partner . No im not blaming the partner. Im blaming the crowds. Im blaming my swing. Blaming the game itself which is very you play. No, i gave it up joe. Id like to see you, youd be like the mitchelin man out there. But i cant do what you do. I cant golf either actually. The weather has been beautiful though. Thats one thing we can say. Weve never seen anything. Last year were in a tent what is the proof made out of . Tent material how do you spell tent. Anyway the rain we thought it was going to break through. They were trying to prop it up and make sure that the ceiling didnt fall. This year not the case. 77 degrees. Ive been not freezing so its working. Going to get to 77 today. Most beautiful. At this point you argue is it the most beautiful place on earth . Its a matter of opinion. This ranks up there no matter where you are. It does. We have a huge lineup of guests for you. Were at the pro am. A lot of people are coming up. Scott is sitting here first of all and well talk to him in a moment and we got a chance to sit down with Randall Stevenson. Hes going to talk about everything with Cyber Security with the huge conference taking place today. What a big issue with all the Companies Facing anything like this and talk about reshaping the Telecom Giant as well we have to talk to him about the dividend because theres questions about whether the dividend is safe. We have the answer for that. That stock is on quite a run. Well be talking Technology Trends with jeff yang and we have Waste Management ceo David Steiner and Glenn Hutchens and i want to hear what he has to say about Cyber Security too because its a huge issue no one is sure how to take on at this point. Well also be joined by cbs healths executive chairman. So a big show ahead. You know 50 shades of grey thats us what . Well not us what a week. Becky and i have had out here no its universal. I did know that was universal. Yes. I like this morning, joe are you ready for your 2 45 my what . I got up at 12 15 this morning. Did you . My iphone said come again. Im not going to complain. Youre so nice. Im not complaining. Its just crazy. 1 30. Michelle mentioned u. S. Stocks at this point look like a positive open. I think it was the highest s p close this year just off an all time high. I think it was for some tech stocks quite a bit of new highs. I saw apple hit a new high for a 700 billion new company. Wall street is cheering a potential ceasefire between russia and ukraine. Thats supposed to be sunday. Well see how long that lasts. Strong Earnings Reports but how could investors distinguish the noise from the opportunity . Scott is global chief Investment Officer and our guest host for the next two hours. They have 220 billion in assets under management and thats probably one of the reasons you need broad shoulders. Thinking about your overall view on things you think this economy for those that find problems with it you think its really pretty good in reference to the rest of the world. Absolutely joe. We reached the point now where we have wage growth starting to accelerate. Unemployment getting down low enough that we moved from a recovery into a selfsustaining expansion. This is the kind of stuff that you see in late stage Economic Growth growth. Were going to see an increasing consumption as wages go up. 70 of what we do is consumption. Exactly. That probably takes the top spot over concerns in other areas. Thats right. I think once we can get the wage growth. The wage growth is focused on the lowest earners. They have the highest propensity to consume their wages so until the economy overheats and the fed crunches credit down again which they will do we have a pretty good run ahead. You think it lasts two to three years before that stuff catches up . I believe so. It takes about 2. 5 years to move to the end of the rate cycle and then you get a recession. Were pretty good until 2018. You stayed on bonds. A lot of people for five years have been in various stages of saying you have to get out. You made money but not necessarily just treasury but asset backed stuff. You do a lot of different things. Do you think this time its finally going to happen . The fed goes sometime september or later . Exactly. Of this year . And at that point set yourself up bring in durations and get out of the bond market basically basically. I think whats going on in europe, qe rates being so low, were likely to get another down move in rates from here but i dont think it will be sustainable and i think that will be the opportunity for Bond Investors to start pulling their durations down getting into floating rate securities. So your prospects too as well as the economy. I am. I have come to believe that we need to have more faith in the ability of Central Banks to print money. It works . Its inflated asset prices here and inflated asset prices in japan. It will do the same thing in europe. So im not going to say that its going to solve europes structural problems but it will push stock Prices Higher and that will be the place to be. But you also point out that valuations here reflect some of our preimminents already so the real opportunity might be in europe. Yeah. I think stocks are still going to go higher here. They have been expanding again. That usually leads us to new highs in the near term. We might have another 20 to 30 higher in the United States over the next two years but when you start to look in europe you can see some of the markets up 50 or maybe 100 . We always think of europe as a continent and think of them as a grouping together because of the ecb but if you look at the individual countries in that theres massive variations. Germany and france have done before since the big crash but if you look at a greece or italy its a very different scenario and they lost ground every step along the way. How careful do you have to be in picking your places there . You have to be very careful. Im not going to argue in favor of greece. Greece equities will go higher but places like spain where they made some structural changes that are necessary. Spain we have quitely been sitting around and they have six warts of Economic Growth even though unemployment is very high. Somewhere around 25 theyre making improvement and, you know, thats where you want to put your money. You want to put your money in economies where you have lots of upside and lots of room for improvement and spain has taken the appropriate steps. Other places are ireland and portugal and france has been very slow to make structural changes and the 5 hour work week is going to be a real inhibition to their growth. It wouldnt be my first choice. Scott, thank you. Be with us for the next two hours. Were out of here and first we heard about bob simon. If that wasnt unsettling enough and now david car makes the frailty of life that just hits home, doesnt it andrew . It really does. It really does. I will try to read this as best i can just because i have been up all night about this because we have sad news to tell you about New York Times columnist david carr. He was a friend of mine. He died last evening. He was 58 years old. Carr had a very long career. 25 years writing and analyzing Media Publishing the changing landscape of our industry. The New York Times publisher and chairman called carr an irreplaceable talent. As i said he was a good friend of mine and one of the great princes of journalism. He was generous in his support and always fair. We wrote many stories together. Years and years ago bruce buying new York Magazine and rupert murdoch. Buying all sort of things. We had dinner in San Francisco just a couple of months ago with tom. He brought me along to that dinner and he was an amazing man. He leaves behind a wife and three daughters and he will be missed. Were back in a moment. So sorry. Welcome back to squawk box. The hot seat is getting up. Yahoo is cutting actually more than several between 100 to 200 employees mostly in canada. The cuts were across multiple groups but managing is calling it an organizational restructuring and not lay offs. People are shell shocked. Since myer took the helm she is under pressure to cut costs at the company. She has favored a ranking system that dismisses those with poor scores. All right lets get back to becky and joe right now. Becky talked to Randall Stevenson. Michelle thank you very much. Obviously at t is the sponsor of the at t pebble beach. Been here for 30 years and Randall Stevenson has been making some big moves to try to transform the giant. I got a chance to talk to him yesterday about what the Company Wants to be. I think well be a very different animal from either of those to be honest with you. You made the comment about down the road. Its not so far down the road. Directv we believe closes the first half of this year. Our First Investment in mexico is closed. Were buying them out of bankruptcy. We think in the Second Quarter that closes so by the second half of this year the profile, the revenue mix of the Company Changes rather dramatically. Rather than a company where our major revenue share comes from mobility business our number one revenue share will come from our enterprise business. And both wireless as we sell to enterprises. This is moving to be very powerful in the marketplace. Bringing, you know sioux secure fixed line as well as Wireless Solutions to the market. That will be our largest business segment when we get to the second half of this year and its growing. Its growing very nicely. When you look at our wireless business all the growth is coming from the b to b. The business to Business Sales piece of that. That will be our largest piece. Our second largest piece of Business Revenues will come from tv and broadband that we sell to the consumer. Its going to be a very large scaled business. Our tv business is not profitable. We close directv and that becomes a very large scale tv broadband business that is profitability as soon as we close it. Our Third Largest is consumer mobility and it becomes 20 of our business. Its the Third Largest share of our business and the most exciting part probably is going to be latin america. We have the best tv business in latin america. It will be the largest tv business in latin america and the investments were making in mexico in mobility is going to make this a very fast growth piece of our business and one were excited about. We like that a lot. Is part of the reason you moved and changed the economy is because youre looking at a saturation when it comes to wireless usage and ways to find new customers there . The u. S. Business is maturing. The wireless business is obviously. So you do look for growth opportunities. Our main motivation though becky is when you look at the u. S. And you look at whats happened over the last 7 or 8 years as you built out this mobile internet capability we have been convinced for a couple of years that that is going to replicate itself around the globe and that as Companies Invest in these mobile internet capabilities around the globe youll see those economies and markets take off just like the u. S. Did. We looked really aggressively at europe for a couple of years. We couldnt find a really good entree to europe and when we bought directv it acquired us to sell our assets and latin america was available to us. We look at mexico and if you look at a place where the mobile internet is prime to take off mexico is one we think is a really exciting opportunity. Growing middle class. A very young population. The Regulatory Environment is very unique. The Regulatory Environment is welcoming to investment. In fact theyre soliciting us and asking us to come and invest and we put that together and we think this u. S. Experiment or experience is going to replicate itself in mexico. We want to be at the front end of that. Randall talked about other things with us as well. Theres questions raised about whether the dividend is safe and moodys analyst downgraded it recently because east worried about the idea of being able to keep one the dividend after the company agreed to spend 18. 2 billion in the wireless spectrum. We have a answer on that and well get to that later but we talked about the brand of at t when it comes to sponsoring Jordan Spieth. We got to know jordan and his family and we have fallen in love with he and his family. He represents our brand very well. He brings to bear the millennial generation and he has a lot of advantages for at t and we hope we bring a lot of advantages to Jordan Spieth as well. Hes quite a character. Hes very mature. Hes 21 years old and amazes me how much in command. How polite. Have you been watching how he plays at all . Not as much as i have been watching . Yes. Hes like a phenom and in fact you were sitting next to him at dinner and i got to talk to him as well and i said are you 23 or 24 now . 21. Yeah, time flies but randall wants to get his monies worth. 21. Lets get them early. Remember phil did things like that too. Get them when theyre still in swaddeling clothes so much. Hell have a long unbelievable career. I dont know how many majors were talking about but suddenly majors are a lot more available to everyone now that a certain tiger seems to be how about this lost in the woods. Tiger woods. That is a bizarre story. Not like hes been a huge threat. Lately. But we were talking to jordan and i dont think it was necessarily off the record but because it was one of his idols and no one in the world thought you would ever see his short game be where he was. He was the most confident player in terms of his chipping and putting and its hard to watch and nerves as you get older, it gets harder on the short game. It gets much more difficult but tiger you thought was sort of invincible. Yeah. Up next a biotech stock thats really been invincible. Its almost i forget the market cap but we watched it go from a single couple of billion dollars up to multiple tens of billions. It enjoyed quite a run over the last five years if you bought it. Bob hugin will tell us whats in the pipeline as he joins us live from pebble beach. He had a good round yesterday as well. Plus youre going to meet the ceo of a start up who is betting that the death of the handwritten note has been greatly exaggerated. He has impressive backers on wall street. Thats not handwritten. No. Its machine written. Handwritten by machine. I dont know. Thats coming up when squawk returns. I think you spell qe is it cue . As we head to break lets look at yesterdays s p 50 o 00 winners and losers.