Were talking about real revenue revenue. We have a controversial story on cnbc. Com today. The headline reads is the 401 k experiment a failure . First we didnt know it was an experiment but we will get to that a little bit later. The writer of that piece on cnbc. Com says that the facts add up to an f for 401 k retirement plans. Weve heard from many of you on twitter as you respond to that article, but the author kelly holland, will be with us to back up that story and well be talking about it a little bit later. Yeah. Ted cruz he jumps the line. Hes now the first to officially declare he is running for president. So where will he get his money . Is anyone on wall street behind him . Well find out later on in the show. Lets get you caught up on the markets today. Kind of a quiet session even with comments by fed vice chair Stanley Fischer which well talk about in a moment. The dow is up 54 points. Were getting closer to an alltime high for the dow, too, as a matter of fact. S p is up
Economic output for the euro area have become more balanced on account of the recent Monetary Policy decisions, but Falling Oil Prices, and the lower Euro Exchange rate. Emily draghi push back at the idea that the program could be cut short at the inflation returns to target earlier than expected. Bank of americas firstquarter results beat estimates. Profits rose to 3. 4 billion and revenue was down 5 . Noninterest expenses dropped 29 in the quarter, but some analysts were expecting to be cuts deeper cuts after litigation over bad mortgages wind down. The sec is concerning to ease limits of Foreign Ownership of american broadcasters. Just last month, republican commissioner Michael Orielly says the fcc is to permit Foreign Ownership above the current 25 cap. The Foreign Ownership issue has had an impact on streaming Companies Like pandora, which has been unable to buy a Radio Station in south dakota because they cannot prove the nationality of its shareholders. Nokia is buying alcatel.
Let greece skipped a debt payment. Stanley fischer is speaking at the Imfworld Bank meetings. Street smart starts right now. Here are the top stories we are watching ahead of the closing bell. That is according to a person familiar to the matter. Kaufman last lost one billion last year. His portion of citadels portfolio has been liquidated. Ben bernanke is going to consult with the goodell on monetary policy, financial markets, and the global economy. A former jpmorgan broker faces charges that he stole 20 million from customers over four years. The fbi also said he pocketed cash. He was fired by jpmorgan last month. Microsoft and yahoo revamping their search agreement giving yahoo more freedom over how it makes money from advertising. Yahoo will no longer have to use microsoft to serve all the ads on desktop surface desktop searches. We have less than one hour until the close of trading. Lets go to the news desk where scarlet is looking at the action. Scarlet if you come inside the bl
Accor leads the French Market as they see Strong Demand in the First Quarter but cautious on brazil and its domestic market. So welcome to the show. We have been getting news that bloomberg terminals have been hit by a global outage. Its under investigation. Well continue to bring you updates on the situation as soon as we know more. Of course this does of course effect peoples ability to discover prices in most across europe and the u. S. Its a big day for price discovery. Remember what happened yesterday with the greek yields. We saw 350 basis points surge. He equities didnt move much but bloomberg is perfect for price discovery in the bond markets as well as the credit markets. Also bund yields at 7. 5 basis points so obviously thats where people want to be looking at in terms of the data. Absolutely. Michael houston there saying it could well effect trading volumes volumes. Youre going to have liquidity taken out of the market. No doubt about that. For now stay with us and well bri
Fisher and the eu trust complaint against google and World Bank President Jim Young Kim. We wade through earnings from goldman and city. Try to hang on to 55 and the tenyear around 1. 08. Netflix shares poised to open at alltime highs. They did beat expectations. Netflix issuing upbeat subscriber guidance for the current quarter. We know what happened to the shares after the bell last night. Up 12 to 530 and change. Fpr with a price target of 900. I thought that 750 the other day was aggressive. I dont know what the implied multiple of 900 is. Subscriber growth is what shareholders are most focused on. Not earnings per share or anything else. There is no doubt netflix did better than its own estimates and many of the estimates of analysts that follow it. International becoming an important part of this company. The margins over there start looking worse rather than better. Youve got to rely on the u. S. On that front. Again, its right now all about growth of that subscriber base, which