Social network spend a fortune on a fortune on the fiveyear old instant messaging service . We got paul kedrosky, bloomberg contributing editor, also deals reporter cristina alesci. 19 billion. It is a huge number. How does facebook justify this . Number. It is a big i was just looking at the numbers last night, the largest Venture Capital based company in history which is remarkable, so the way to get at this kind of valuation is on a basis. 400 million users, maybe a billion by the end of the year, adding a million users a day. So on a per user basis, which is the metric we use with the instagram acquisition, dating back to these network of acquisitions come about 40, which puts it on par with apps of with other acquisitions of this area. Lets notw, cristina, forget that snapchat turned down 3 billion dollars from facebook. To that have an effect, cristina alesci, on the valuation for what we are seeing on whatsapp . It is unclear, but facebook needs to grow users, and how much they
Rose to a record high in january. Shifting over to japan, Industrial Production grew the most since 2011 indicating the economy is strengthening. Jumble. Of data but a all thisrning we got data. Starting at 8 30 a. M. , gdp. At gdp so look we get in theory they refined any little bit. Also, personal consumption consumption. 9 45 a. M. , chicago or kissing managers index. Michiganversity of converts number and pending home sales at 10 00. And we may be getting the letter from mr. Buffett as well. Last years letter was strong and smart from the buffet we wew years ago buffett knew years ago. Check. Ave a warning data stocks, bonds, currencies, commodities. I am going to call it off but i am going to say the markets are calm her given what we saw in the ukraine yesterday. 2. 6710year and the euro. S stronger, up near 1. 38 you can really see the geopolitics coming in. A stronger102 yen. The ruble is stable. That speaks volumes. The backstory away from the ukraine is the managed weakness o
We will take you live to washington dc. Danica rejects the takeover bid from pfizer. We will be taking a look at the health care industry. Big Food Companies are behind the big rise in childhood obesity. Welcome to a very special edition of Market Makers. Not just because katie couric is here. Julie hyman is here. I just came from baltimore, your hometown. I went to the preakness this weekend. There you go. Lets start with the breaking news out of washington dc. Higher in just got the cyber war between the United States and china. Justice department will announce the first criminal charges against members of the Chinese Military for cyber espionage. Phil mattingly is with us. Peter cook as along as well. The Justice Department just unsealed charges against five individuals rectally tied to the chinese Peoples Liberation army. They were targeting multiple industries according to the documents and charges that were filed. Thenuclear industry, solar, companies they were targeting alcoa,ca
As the drugstore posted earnings that Beat Estimates and also beat projections. In washington, a new report from Network Security firm a Network Security firm shows that have been hit by hackers stealing their information from citigroup to target to neiman marcus. We have more on the impact of these data breaches. I bring in a former defense yang and bloombergs are we any safer than we were in the past . Of thisig the focus report is marginally improved. This is from old cases, from the hundreds of clients, and this is before we actually learned of theheartbleed bug, this is leak in Security Systems that were meant to protect us from cyber threats, like hear tbleed. But the findings in the mandiant report show the landscape of the threat and the threat challenges and have been made all the more evident by heartbleed. Overall, companies are discovering this faster than before, it took them two weeks less than in 2012. Hackers were still hanging out 229 daysks of victims, last year befor
Are you looking at . As you give us the eps number, it matches estimates, but the sales number is a big miss. Comparable sales, spain samestore sales was down 1. 6 . Analysts were looking for a gain of 1. 3 . What happened in the First Quarter was the weather issues. Frigid temperatures in february. Multiple winter storms. Amateurs were much colder in february than they were in the previous year. A late easter as well. Inventory buildup that carried over into the First Quarter and macys had frequent oneday sales, giving you an indication of how frequently they had to markdown merchandise to clear store shelves. That pressures margins as well. In terms of growth margins, 30. 9 for the quarter. Higher than what analysts were looking for, 38. 7 . The key much the same as it was one year ago. Samestore sales number caught my eye, and unexpected drop of 1. 6 . What we hear from macys is they have raised the Share Buyback by 1. 5 billion, and it is also increasing its dividend by five percen