This point. Lets tell you about the big stories were watching this morning. A First Quarter read on the First Quarter gdp at 8 30 eastern time. Forecasters say the economy likely grew at a snails pace. Also the fed wrapping up its twoday policy setting meeting in washington. Announcement set for 2 00 p. M. Eastern time. No changses expected on rates just yet. Beyond the economy theres also a busy day in earnings central. We have Companies Set to post this morning before the bell mastercard mondelez and general dynamics. Also were continuing to watch the situation in baltimore. Things were quiter there. Demonstrators for mostly peaceful. Less than a dozen arrests compared to more than 200 on monday. Curfew ended at 5 00 this morning. Go back into effect tonight and we should tell you that todays baltimore airlines game will be in the afternoon and will be closed to the public. The teams weekend series against the rays will be played in tampa instead of home in baltimore. The next five games are not going to be in baltimore. Thats weird, though. Yeah to play in an empty stadium. Yeah, its weird but, you know, theyll get it done and get it on the schedule. Thats never happened before. No they have to get 162 games in. They cancelled a couple of them and got to keep doing it. Switching gears, back to wall street, a number of stocks on the move this morning. Twitter revenue falling short of estimates. Company cutting its forecast blaming weak demand. For its new direct response adverse tiegz adverseing and twitters results were leaked before the markets were closed in a tweet that said it found the numbers on the Companies Investors relation website. Well talk to an analyst. So twitter actually did it and i dont know i couldnt you thought twitter did it . Im saying that i thought it was a tweet from twitter but it was generated by twitter from selerity but i immediately thought of like some guy over at twitter is like dude you just released the numbers, man . Oh was that oh man. I think theyre stoners. Which is what he told us about a year ago. Dude what are you doing . Twitter was quick to blame the nasdaq because the nasdaq operates its Investor Relations website. Yeah. The old routine. Weve had this a couple of times now though. Dave. Jp morgans earnings. Its happened to a lot of Different Companies but what usually happens is you think it was the stoner hitting the plus theyre worse when theyre bad earnings because you cant say anything. You dont know what to do about it. It wasnt bad earnings. It was bad guidance theyre giving. 6 million on the market cap loss or something. Anyway no evidence that anyone was wasted but we dont know that they werent wasted. Anyway, goproshares getting a boost. The company citing Strong Demand for its flag ship hero four action cameras and a mixed quarter for kraft foods. Erngs erng earnings beat estimates. A big miss for buffalo wildwings on the top and bottom lines. The restaurant chain hit by higher food cost. The price per pound for its traditional chicken wings increased 41 in the last year. And i, you know my idea theyre getting out of antibiotics. Nobody wants gmos. So i guess, if my idea of breeding genetically altered chickens just to make them cheaper. Might not go over so well. People arent going to like that. What are you going to call them . You know those wings are small, right . What are you going to call them . I dont know. But you need one chicken for every two of the buffalo wings. Its not chair to chickens or people that love wings. You get four because you get the legs and the wings. Chicken wings are also some of those legs. No theyre not. Legs are drumsticks. But you drumsticks too. What is the big drumsticks you get from the chickens. Bigger chickens. Are you sure . Yes. So you get four per chicken . Yes. But youd like six i know. They must look different. Oh, okay. Theres the little wings and then the bigger the part of the buffalo. I prefer the littler once. I like the drumstick ones. You like the drumstick ones. Yeah they got more meat on them. All right so they already have four. I can make an argument for six or eight. That would be more productive. Efficient. But guarentee you that the politically correct people arent going to let us do that. Thats what they called them. Three or four breasts. Politically correct its the marketing they have the problem with. The chernobyl wings. The quarter Current Quarter profit will fall short of estimates. The ceo will join us first on cnbc at 7 30 eastern and the amount of Product Knowledge that becky has about what this company does is its technology is going to be in full display. You wait. So you knew enough to even figure out i was doing that interview. Oh, yeah. If it was going to be me id have to read up a little bit. I remember what they did 10 or 15 years ago. It was involved with the internet. It goes to the whole neutrality. It goes to net neutrality. It is a three anchor show. Well all three get the chance to talk to him. Can you say it akami. Can you say twitter. If it hits you cold on the prompter. Think i might have a tough time . You said earlier it was what was that . Nothing. It was really funny that you just just now . A lot quiter. I would have added the er myself. I would have said they probably didnt mean that and i would have gone with it. Just on my feet and just say, you know im going to stay quiter because they probably didnt mean it was a lot quiter in baltimore. You know where it was not . With twitter last night. That was. That was a noisier situation. You sound nice. Just get ready. Were going back to twitter right now. The stock having its second worst day ever yesterday down as much as 22 on weak revenue and guidance. Taking close to look at metrics. Ad revenue up 72 year over year. Total monthly active users jumped 18 but the mobile portion came in lighter than what the street forecast and thats where the problems begin. Here to break it down with us is ronald. Good morning. So well first before we even get there, 3 00 rolls around youre hanging out on twitter. How do you get the results and do you think that theyre real and what was your first instinct on this. We got them the same way, everyone else saying we were very surprised. Just a search for more information and more and more news and tweets come out and you say this looks more and more real and the company took the bull by the horns and released it on their own so that was a good thing. Surprise to everybody. Unclear what it was and the stock reacted right away and more so immediately following. So the bigger question is is the stock market if you will reacting properly to this new guidance . Meaning is this guidance as bad as everybody seems to be taking it . So i mean it clearly wasnt a good guidance and the quarter came in lighter than expected and a lot is due to how their direct response advertisers advertising did in the quarter given the company is in the middle of rolling out a new quality Score Algorithm which could improve overall equality of leads and bottom line is theres a little bit of disruption in the core business. Stock down as much as it is because of the fear of unknowns in term of what that change in the quality score is. Our thesis is basically that frankly this quality score sounds a lot more very similar to what google does maybe to a little bit of what facebook does. Theres a precedence so how theyre doing things and overtime from an advertising special circumstance tif you do want to pay for better quality leads as opposed to more quantity of leads. Its the right thing to do longer term but how much of a disruption in the shortterm is it going to be . Thats why youre seeing the stock react as it did. Isnt part of the question that the revenue coming in below expectations and revenue guidance for the Current Quarter, a lot of this has to do with this is happening as theyre starting to ramp up and monetize the site. This should be the low hanging fruit. Does that raise questions about what they have to do when it gets more complicated . Thats a good question. I would almost say the low hanging fruit was maybe a year or so ago. But what happened this quarter is because of what this quality score did and the change in terms of perception in quantity versus quality it impacted overall rates and that drove some advertisers to the sidelines so i would argue that the low hanging fruit was maybe last year and now were getting to more of a robust advertising tool that has all the opportunities in the world and the question is how quickly can they do that. Right. How hopeful are you on the video stuff . They seem to be launching. Well get to a point where youll be going through your feed and its going to launch video almost automatically. They havent done it yet but thats the word of what may come next. Yeah, video is a huge opportunity across the web. Certainly with facebook and twitter Just Launched the ability for consumers to post video on the app and edit it directly and with the launch of periscope recently. I think video is the future. Started with snail mail and going on into email and now direct messaging and twitter more instant in the real time so when you think about what twitter can do and how theyre changing the communication among users i think its here to stay and will get more and more prevalent as time goes on. Its one of the multiple catalysts we think still exists. Whats your target price on the stock . So our target price is now 48 down from 52 previously. Okay. Well leave it there. Appreciate it. Thank you. Also quick programming note twitter ceo is going to be on squawk alley from San Francisco i believe this morning. Hes just down the street from our studio. Thats going to come up at 11 00 a. M. This morning. Lets get more on the trading day ahead. Joining us is phil orlando. If i had to sum up what you said recently and what youre going to say again today its stay the course i think. I think thats exactly right. We put out a note about two months ago. The market had it an all time high at 2120 and there were a couple of things that concerned us. The fed meeting in march, we thought there would be a lot of confusion among investors there. We thought First Quarter earnings and gdp would be terrible. All of those things happened but we didnt get the 5 to 10 correction in the market. We got 3 to 4 . So we changed course a couple of weeks ago and what we got wrong is we underestimated how intelligent the market was in terms of looking through the transitory issues and we think well move up to a 2350 level by the end of this year. You think thats the key. Transitory. The dollar is transitory. The depressed oil sector transitory. One thing it will do i think in your view is delay the fed. Maybe theyll do one and done but also your forecast for the economy, youre looking 11. But 3 for the balance of the year. 2. 8. 2. 8 for the full year but the run rate Second Quarter on is going to be 3 plus. You have a high degree of confidence in 2. 8. We do. What were focussing on is the run rate. The First Quarter is going to be terrible but i think a lot of investors in term of the weather understand the transitory issues that have driven the gdp number poorly. One thing we talked about a lot is the disconnect between corporate profits and how we feel about the overall economy. Corporations have done well and done a lot of financial engineering. Increased financial productive and they have been doing well but we think thats fed induced in a way too and we havent seen the economy going gang busters yet. I think youre right in that were about halfway through the First Quarter earnings season and the revenue numbers have been poor. Flat year over year revenues. Only a third of companies have beaten. The earnings numbers have been better because companies have done a good job of talking down the street so were getting about three quarters of the companies have beaten but companies have done a good job of talking the streak down. So were getting the better earnings numbers, share buy backs, the improvement of product activity et cetera rather than the strong top line growth. We think that will come but its not showing up in the First Quarter. And the fed wont move quickly at all . Our best guess is we were in the june camp until we saw that jobs number which was terrible so that pushed us out to september. So our best guess is one and done but not one in terms of one hike. 1 is the thing. So what we think that were going to see is a series of quarter point hikes starting in september at every other meeting which will take us to roughly 1 of the funds rate next june. At that point we think the fed pauses. How does the market respond and economy respond . And give us a chance to see what the impact is. That makes a lot of sense but i havent heard people lay it out. Theyll get something out there so were not at zero. If they come back every other month by the third time they actually raise rates does the market start to freak out thinking we dont know how long this is going to go on or how high it will go . That was initially why we thought we might get the 5 to 10 knee jerk reaction down much like the taper tantrum in 13. At some point the market is going to come along to our point of view and get a sense of what theyre going to do. The fed isnt going to try to kill the market or economy but they want goat back to one. God forbid something happens in the world. That makes a lot of sense. We reset and we think 1 is the right number. On the job markets. Tighter than people think. Wage growth is going to go up for that. Its going the other way finally. More people getting off disability than getting on for now which means the job market is a little better. Was it the times . It may have i do read things online sometimes. I dont like it but im reading it. This is the i read the same thing and i didnt read the huffington post. Well you should. I didnt this morning. I know that i saw it anywhere. Where was it . No, one of our chairs topics. One of our chairs topics. I knew i read it somewhere. We read a lot. I get up at 1 00 a. M. Absolutely. Thank you, phil. Just trying to see where that came from. Its a reuters story. Its a reuters story. Might be true. When we come back this morning shares of gopro climbing on Strong Demand for its action cameras. But first heres a look back at this date in history. Flo hey, big guy. I heard you lost a close one today. Look, jamie, maybe we werent the lowest rate this time. But when you show people their progressive direct rate and our competitors rates you cant win them all. The important part is, you helped them save. Thanks, flo. Okay, lets go get you an ice cream cone, champ. With sprinkles . Sprinkles are for winners. I understand. Attention seinfeld fans every episode of the show about nothing is now going to be available on demand from hulu the Digital Streaming Service signing a deal with sony tv for reruns of the hit nbc show said to be worth 180 million. The wall street journal reports hul outbid amazon and yahoo with a price of 700,000 per episode. Hulu is coowned by disney 21st century fox and our Parent Company comcast and this is we try to do docs here that are evergreen and nothing is evergreen. If anything is close the marijuana ones have been pretty close. But now its legal so but if anything is really evergreen it might be this. Jerry wears funny outfits and everybody looks a lot older now and things that happened in real life have already been covered. I dont know whether it was larry david that the h the double dipper. The chip is too big. Its a john and paul kind of sum of the parts. Generationally. My daughter. Totally . Totally. When i watched the brady bunch that is not evergreen. It was. It wasnt funny the first time, dude. It was lame. It was lame. Just saying. Marsha marsha marsha. It was lame. I watched it nonetheless. Different strokes. Im keeping track of them. Im talking seinfeld and sorkin brings up growing pains . Full house . Stop. You mentioned evergreen docs and theres a doc i think will be evergreen on this network its going to run tonight at 10 00 p. M. Eastern time. Oh yours. 10 00 p. M. Eastern and pacific this evening called white collar convicts. Even the whitest collar prison is still scary and cool but even going into these is nervous. He got nervous. I bet he did. Youre just a big 1 er and youre at risk. We were with 1 ers inside the prison. Thats true. And i think some prisoners like the 1 ers because they figure if they ever get out thats a connection they could make, right . Not only that but theres level of extortion that go on. Theres a whole underground economy. Is that in the dock. It is in the dock. You got to watch. Im going to watch. Again and again and again. Thank you sir. In the meantime consumer news this morning, which retailer has the lowest prices. It seems like a simple question. The answer can be complicated but cnbc has a study that shows which retailers have higher prices and which have the best deals for identical products and courtney is here to tell us all about it. Heres the headline, target misses the target on the lowest prices and best buy isnt always the best buy for consumer electronics. Cnbc teamed up with pricing firm nerd wallet to track preshipping prices online on a range of 11 electronic products 12 weeks from a camera to ipads, television sets. We looked at five retailers, best buy, walmart, target amazon and costco. On april first it was 30 higher than target. Com for this l. G. 42 inch tv. Walmart out of stock on the item. While you will pay for on best buy. Com they did have the best track record for being in stock. Only one product was out of stock one time during our tracking. Now the king of the priegscing jungle amazon. Walmart. Com was a close second. The lowest price on amazon. Com for this vizio smart tv was 149 lower than the highest price on target. Com. This time of the year is price competitive and all retailers change prices frequently to stay competitive. Most offer Price Matching programs which is what best buy and walmart pointed out when we reached out to them for comment. So you can often get the lowest price but it might take a little homework. Youre going to have to do the work yourself. So heres what im trying to figure out though there doesnt seem to be a rhyme or reason. I cant just go to one place . Is there a search place . I think again the headline conclusions is that walmart and amazon seem to have the lowest prices most often. But only for specific items. No most of the time. So we tracked it for 12