thank you, abigail doolittle at the nasdaq. let's focus on banking shares. so far this year the banking sector has fallen twice as much as the overall s&p. earlier today we spoke with michael scholl about the state of banking. michael: i have no concerns around the general banking crisis. betty: exactly. michael: if your money is in bank of america stock, perhaps

now we headendan: back to abigail doolittle. abigail: a big day. the nasdaq is having its best day of the month on the heels of a strong friday as well. fell back a little bit mid morning and it is now up more than 2%. many investors may wonder whether this is the real deal and what it means in the context of this year's selloff. the managing director said a big theme on institutional trading desks with the idea markets are cap at 16 times on the s&p, that he was 1900 to 1920. not a lot of upside from brendan 1% or 2%. the idea is also that nobody is arguing for multiple expansions. one of the best percentage performers, groupon, shares are soaring on the news alibaba is taking a 6% stake. this is on the news of the company's strong and bullish report last week. this all has the stock up 90% from a record low just last week. groupon is a penny stock and it reflects the fact it is down more than 85% from its ipo back in november of 2011. another stock is down sharply from its ipo and now is one of the biggest percentage laggards, go-go shares are of

abigail doolittle as the latest from the nasdaq in midtown manhattan. abigail? of the worst performers -- shares plunging even after the chinese internet estimates in revenue. apparently this was caused by a near tripling of costs associated with the company's online gaming segment. rated. under on thethe biggest movers index is apple. the company remains in the spotlight as apple continues to fight the government around digital privacy. interestingly "the washington that apple may be trying to make an iphone that is even harder to hack. it will all probably come down to earnings and revenues and whether the negative revenue growth extends into the june quarter. athnically, apple is holding $92. above $92 is probably bullish for apple. below, you could see apple drop down. vonnie? vonnie: thank you so much. tim cook joined " abc world news on locking theid iphone would be "bad for america to he went on to say that he thinks that apple is making the right choice. tim cook: we know doing this could expose people to incredible vulnerabilities. this is not something

abigail doolittle has more on this. abigail: i huge day of volatility here at the nasdaq. down just a little bit now, but as you mentioned, still in the red. the big drag coming from big tech. some of the top points come from both classes of the alphabet stock, along with amazon, microsoft, and facebook. three out of those four companies reported great fourth decent twod offered great outlooks for 2016, so it looks like you have another day here of one the fundamentals are trumped by a risk off contact, now just a cashing in on the winner's mentality. when we dig deeper to take a look at output that, it has a deep top point drag giving up all the gains made yesterday on the lack of real news. it seems to be a complete reversal on investor assessment. marketis back in a bear from its record peak as investors continue to sell the week fourth quarter reported last week. the stock is well below its moving average in what has been a bearish technical setup in the past. helping out the nasdaq today is gilead sciences, with a bit of a break on the biotech side, the stock is up sh

betty: thank you so much, that was abigail doolittle. is eric sheridan. he is an analyst and he raises -- what didup to yesterday's earnings report? what did you like? eric: there were two things. one of them was the advertising business. this is on the back of mobile search and youtube. these trends continue to drive out the revenue. and also the transparency. we now have a better sense of how google all that is allocating capital between its core business and what they call other debt. it is important to understand how profitable this is. versus where alphabet will allow investors to put a higher amount of the google profit. they closed 3.8 $6 billion spent on projects like self driving cars? is that a concern? eric: they were going to be ambitious. they will not lose the entrepreneurial spirit. what they will look at is where they can find other revenue for the next five or 10 years. nest,o biggest would be that is home security electronics. five or. things like internet infrastructure, health and sciences. betty: the search ad market, it clearly is a

vonnie: thank you so much, abigail doolittle down at the nasdaq. still ahead, we are getting ready or the market close. a look at the major averages right now. points.p 159 the s&p 500 is holding above the level alex was talking about. ♪ vonnie: reporting after the close, jcpenney reporting tomorrow morning. expecting jcpenney to post a fifth straight quarter of sale games -- sales gains. i next guest initiated coverage, a target of eight dollars or around there. the senior equity research analyst, welcome. we do not expect this a couple of years ago. it is executing the turnaround. >> that is true. it is a lot better than macy's and there are good strategies in places here. has labels and brands the american public really likes. they also have a nice concept, beauty is about 10% of the business. those are powerful trends. vonnie: about one abbvie to stores, it will now be in one in every four or five. vonnie: it did not exactly work out for jcpenney before. >> i would say eliminating coupons altogether was not a good decision but there are big b

betty: abigail doolittle at the nasdaq, thank you. mark, you are within tech technology -- sin tech technology. bank of america ceo says his bank spence $3 million a year on coding to keep up with the times. mark: some analysts are calling it the uber movement of financial. cofounder and managing partner at augmentin him, he joins us today. how much are the world's biggest financial services firms set to lose to fin tech startups? the reality is we are at the start of this journey. they are coming into line with what is happening in the public market. we are really at the start of that journey. it is hard to estimate and be too specific, but we would think tens of billions, hundreds of billions of revenue over the next 10 years will shift from traditional financial services to technology driven fin tech businesses. mark: can bank keep par with changes that are happening? themselves finng tech companies. of people are talking about fin tech and not everybody understands it. i think the banks will be a integral part. we are not going to

abigail doolittle has more live from the nasdaq. yahoo! shares are plunging after the company ironically the fourth-quarter estimates. -- beat fourth-quarter estimates. it could be this last point is really dragging shares down as the company realizes they may be admitting defeat about the fact not -- that a turnaround is possible. it seems unlikely that the stock is going to turn around anytime soon. betty: thank you so much, abigail doolittle. back to yahoo!. spoke withe ceo bloomberg west anchor emily chang about selling their core business. we view all three of the areas as being very complementary. in the one business we are focused on being the best version of yahoo! that we can be. recognizing the value that we have in the asset that we built here. in terms of different transactional pieces are aimed at separating the alibaba state, -- stake, we think they can be pursued in parallel. they are complementary as opposed to conflicting. we announced just yesterday that our report will be engaging on strategic puzzles and exploring diffe

thank you so much, abigail doolittle at the nasdaq. abigail: all right -- matt: all right, super tuesday is one day away and it looks like donald trump and hillary clinton are showing their don -- dominance. trump got another high-profile endorsement from jeff sessions. clinton slipped to victory over bernie sanders. here to break down the latest is megan murphy. ok, it looks like trump is kind of racking up the republican establishment endorsement. as aig is that going to be help going into super tuesday? >> this is a party that if you could describe it in one word would be crisis. this is a very late moved by the establishment, some calling it too little too late to consolidate support behind marco rubio. at every angle of what they are trying to do they are trying to stop the juggernaut of trump. tomorrow we expect him that she had big leads up for tomorrow but whether or not the establishment favorite can really make headway into those states remains to be seen. there is this race that has dissented a bit into gutter politics. matc

abigail doolittle at the nasdaq. as we discussed earlier, the fed released minutes from the january meeting. while there were no huge red flags, policymakers expressed concern over falling commodity prices and bode miller's said they could not assess -- voting members said they cannot assess the economy. we will bring in the pine bridge economist -- chief economist markus schomer and joe weisenthal. a couple of participants questioned whether some fully dissipated that monetary policy is data dependent, and a number of persistent emphasize the importance of continuing to can indicate this aspect of monetary policy. this is amazing that you have people in the fomc sitting around saying i wonder if anyone in the markets thinks we are not data dependent and they need to be told that -- is that just too hard to believe? mr. schomer: the confusion is they say they are data dependent and they ask themselves the question, but at the end of the day they give us a path. they do not tell us they might be doing something or wil

now let's go to abigail doolittle, live from the nasdaq. abigail? abigail: lots of with saws up and down. out of the bear market that the nasdaq has been flirting with for many days now. one of the worst drags -- mylan, expressed extreme disappointment with being $9.2 meta. jpmorgan is anis shaw says it overreaction and the deal makes long-term cents. shares of 9% after second-quarter earnings eat estimates, and importantly, strong third-quarter revenue guidance for facebook. the stock is up on the week. scarlet: now to the cross-section between sports and business. anchorerg " stephanie ruhle is standing by. alix: and she has a special guest, ted leonsis. stephanie, take it away. ted: -- stephanie: thanks so much. we are at the nba tech summit, but before we talk after -- talkwould like to basketball, i would like to talk about the businesses you are in. ted: there was all of this mania about unicorns, which i never really understood. mythical creatures that were not able to adapt to a new reality and die the way? i did a blog post a couple wee

abigail doolittle with the latest. benchmark trying to eke out gains compared to the other two major averages. : what an exciting week it has been. two big rally days on tuesday and wednesday. the nasdaq leading on pace to have the best week since july of last year. one of the big performers today, raisingmaterials earnings and revenue forecast for the current quarter. the ceo said the strength is being driven by demand for new technology from the company's customers. it is the other equipment makers trading up and sympathy. applied materials itself has largely recovered the losses it had earlier this year. one of the worst performers on the week, this is after booking for the fourth quarter missed forecast. reaction was somewhat mixed. piper jaffray and rbc all said the stock should be bought on weakness. one of the worst performers, the worst performer down 6%. >> negative trading today, abigail. >> it has been a great week for tech stocks. rebound fora real apple and amazon and facebook. we have the biggest percenta

abigail doolittle has more. abigail: we do have a bit of a recovery here appeared the nasdaq had been down 2%, now down about 1.1%. still a selloff there. one of the worst percentage after missing fourth-quarter earnings estimates. some are calling this "messy." below the, the stock 50 day moving average. elez comese of mond in the past, they have recovered from this. the worst percentage performer in the nasdaq coming yahoo! shares plunging today after the company ironically beat fourth quarter estimates but did announce that expected 15% layoff and they are open to strategic alternatives. not positive -- shares are below last year's lows. withbreak of support buyers suggest the selling could just continue for yahoo! betty: thank you so much come abigail. mark? mark: today's big story in europe is will the bank of england move on interest rates? the conversation is shifting from how long officials will sit tight or will we see the next move being a reduction rather than a rate hike? jean akers is head of ethics

doolittle,o abigail who is live -- no -- we're not going to go to abigail doolittle. we will be checking a markets. if you look at the nasdaq, we are up by about three point. the dow up by 59, but nonetheless looking for direction. scarlet: the nasdaq was a laggard in yesterday's trading as well, and that continues with the momentum trade not getting much traction this year. alix: let's get deeper into what is going on at the nasdaq. abigail doolittle joining us now. abigail: a lot of intraday activity, and on the plus side health care and biotech is boosting the nasdaq. the drag is big tex, including both classes of alphabet stock, followed by facebook and microsoft. what is interesting, all three of the companies put up great fourth quarters and great -- gave decent guides. you have to wonder what is going on. it current -- turns out what could be a tease of it -- the momentum stock bubble may pop. this is after investors were "pushed" into momentum stocks. valuation is now "at epic proportions" and that "all bubbles eventually pop." of names -- there are a number o

let's go to abigail doolittle over at the nasdaq or she has the latest on tech stocks. inlly not participating as a the rally. in the red today. abigail: you are right about that. we are looking at lots of little wet saws -- whipsaws. it does seem that the nasdaq is try despite higher. to go higher, it will be interesting where the index closes later today. turning to one of the worst -- is the worst performer today. by aently, this was caused new tripling of costs for the cover these online gaming segment. this has caused of the stock to gap bearish lead. clsa as downgraded shares from an underperform to an outperform. on the other side of the performance spectrum, lending tree shares are soaring today. the company also beat fourth-quarter earnings, by 274%. the company may two dollars $.76 per share. $2.76 per share. stock up more than 70% over the last 12 months, it is outperforming the nasdaq in a huge way. scarlet: thank you so much. alix: deutsche telekom has raised its dividend for the first time since 2007. joined today, the ceo bloomberg surveillance and talked

abigail doolittle has more from the nasdaq. abigail: the nasdaq at this time is holding on to its gains just narrowly. surging afteru the company beat for what revenue estimates. it looks like the company's investments in mobile are paying off. two upgrades out there. many have been reassured by the companies recent recovery in margins and movement into new areas. the company could be producing self driving cars on a commercial basis within five years. another winner at the nasdaq the big data of software provider soaring after the company beat fiscal first order earnings and revenue estimates by a wide margin. they also raised full-year revenue outlook after adding 600 new enterprise customers for a total of 11,000. the ceo says these results show the company is truly differentiated in the marketplace. 12 analysts change their price target after the results. 50% upside to the average price target of $64. let's check in on our bloomberg first word news at this hour. ireland is choosing who will run the country in the first elec

abigail doolittle has more from the nasdaq could abigail: we are looking at a broad-based selloff here at the nasdaq. two high-profile stocks down ahead of earnings tonight. one is yahoo! fourth quarter earnings reported after the bell. not only did the company have the pressure of meeting or beating estimates, but they also will have the first offer details on the reverse spin out of alibaba and the possible layoffs coming. if you can percent layoff. 15% layoff. the number will be down 41% from when012 profit number marissa took the helm. also reports today after the bell. they may soften the tone a bit. the company will be discussing the upcoming management change takes the ceo helm at the beginning of march. afterock has been down that was announced -- gilead is the 800 pound gorilla in the space. merck is just the minnow. betty: you know what is coming next. we know what is coming next. battle of the charts is next. -- a charge that highlights the opposite. bring it on, miller. ♪ betty: it is time now for our global battle of the charts where we take a look at the most telling ch

abigail doolittle live from the nasdaq. markets are paying close attention to the g-20 meetings that kicked off in china today. alix: the challenges china is facing as it communicates policy ahead of the weekend g-20 meetings. >> the chinese have so many goals. they would like to stabilize the economy, what is going on with inflation, social issues, if you will. monetary policy is not the answer to all of those issues. that is why a very important issue is they are basically trying to tell us, listen, we have other options. we are looking at what is going on, and by going out and doing this, and speaking english, it positive signal. >> the financial ministers that there is a way to loosen policy. >> absolutely. is made economic policy up of three things. on thursday, they liberalized bonne flows. now it is much easier to get money into china. that is trying to offset the outflows that are going on. it is a very difficult development to qualify because we don't know how much money will come into china. as david was speaking

i will handed over to abigail doolittle for her debut. mark's technical analysis. toent back to 2000 and tried 2000 and chart about three expressions of risk in the financial market. in blue, the euro against the yen come in yellow, the dow. spectacular air crashes in 2008 and 2009. we see the dow going up to another bull market, same thing for the emerging markets. the emerging market when into a series of little bear markets perhaps on the threat of rising rates. in the currency land, euro plunging to new lows. after ating higher confirmation of this risk cycle. where are we today? we now have the emerging markets back in a bear market from the official peak of 2011. we are down sharply for months here, confirmed by the bearish downtrend in the euro. looks -- vonnie: that was just wonderful. mark, you were wonderful. doolittle, thank you. we have bloomberg pursuits, next. ♪ mark: the focus of today's pursuits -- next week is leap day. many watches do not take into account the event. a couple do. they happen to be pretty pricey. here to talk about the most compl

abigail doolittle is that the nasdaq. nasdaq higher for the second day in a row. they had been up one point x percent earlier. is led by another rebound in big tech including amazon facebook, and and tell. intel.on, facebook, and partnering with ericsson, nokia, and others to create an accelerated path to 5g. bloomberg chip analysts said that while this sounds like a positive and could be a positive, it will not affect about four years. this could be a briefer preview before investors i absorb intel took down guidance for the fourth quarter. among interested parties, comcast,o be verizon, and at&t for yahoo!, as well as i'll firms like bain capital. ceo marissa mayer continues to face in tents scrutiny -- intense scrutiny. vonnie? atnie: abigail, thank you -- the nasdaq for us all day. a giant has had a couple of of sin downs. shares are down 20% in the past year. -- a giant has had its couple of ups and downs. we are happy to have the ceo and chairman with us today. he has made a few little acquisitions over the past couple of years. maurice levy joins us in stud

abigail doolittle has more from the nasdaq in midtown manhattan. abigail: we have a risk on contact. they are of one percent, largely techn i the big cap names like apple. on news the company is planning its fifth multibillion-dollar bond deal since 2013. it will be returned capital -- to return capital to shareholders. the offering looks attractive. it is unclear if this can turn the momentum out of stocks down more than 25 are sent from last july on all the concerns over the possibility of slowing iphone growth. the second-biggest point booth the nasdaq,boost to amazon is requiring advantage to enhance the payment solutions in india. we have a rally in amazon, up for four days in a row, but it is on lear if that is enough to turn the 30% drop from last year's highs at the end of 2015 bottom and 2014 it was a . the selling in amazon has been strong. up, a battle of the charts. mark, it will not the mark versus brendan, it will be mark versus joe weisenthal. mark: lifting prices to the highest level since november. will it last? i have just the cha

doolittle reigns. sorry for that transition. what's going on at the nasdaq? abigail: the nasdaq appears to be snapping its three-day winning streak. one of the biggest percentage losers is jack-in-the-box. shares plunging after the company missed sales. made $.93. investors were looking for $1.03. the all-day breakfast introduced last october is in -- is hurting the company. 30% over thedown last year, suggesting it may drop even more. the biggest point drag, apple shares are down as tim cook ofuses to unlock the iphone a shooter in the san bernardino terrorist attack. it will be adjusting to see what comes of this. brendan: let's check in on our bloomberg first word news with courtney donohoe. almosty: it has been nine decades since a sitting u.s. president has visited cuba. president obama will be the next one. the president made the annulment -- the announcement on twitter, saying that he would visit. the president and cuban president agreed to normalize relations. the two countries had been estrang

on.dell is barely holding abigail doolittle with more on why the nasdaq has turned down so much force -- pull back. abigail: tons of volatility early on and now flat. it had been down just a little bit. behind this is some of the technology names. that is -- one stock down is gopro. they missed estimates and management offered a bleak forecast. apparently demand for the hero camera line is shrinking. its down more than 90% from peak, down 60% from its ipo price, more than cut in half. and other technology name helping to balance out the nasdaq is yahoo!. it has been the couple of volatile days for the internet portal. onestors were disappointed concerns are on whether they can pull off a turnaround but investors seem to be somewhat calm. upgraded to aen buy from a neutral on the likelihood management will consider strategic alternatives considering how disappointing the outlook is. on all of this, they are testing the buying support of last year's lows. it will be interesting to see how that pays out. betty: thank you very much. the board of viacom has just d asd philippe dauman chair

. ♪ willan: abigail doolittle start with amazon tech stocks. abigail: amazon fighting to make back the big gains it had on the open. reasons --isted six e-commerce business, plus teacher -- attractive valuation. technical faction very similar to those in 2014. the pageevious time, of the recent selling pressure suggests amazon's downside has more to go yet. another big tech mover, one of the most important stocks, apple shares are down more than half of 1% this morning, down 7% year to date as investors evaluate a number of issues. first, will the iphone sales growth continue to slow? what would another potential multibillion-dollar bond yield mean for the company, and most recently, what does the company's refusal to unlock the iphone of a shooter in the san bernardino terrorist attack mean for the company? apple may have farther to fall yet. brendan: thanks. silicon valley has come to the defense of ceo tim cook. biggest names have rallied around apple. here is the google ceo tweeting, yesterday, an important post by tim cook, forcing compani

thank you so much, abigail doolittle from the nasdaq. alix: we are watching stocks right now, looking at the dow is off by 43 points and s&p down by 15. ♪ alix: welcome back to "bloomberg markets." i am alix steel. scarlet: i'm scarlet fu. china's central bank plans to loosen rules on when foreigners can bring money in and out of the country. grants quotas for money brought into china for investment in domestic stocks and bonds. alix: it signals intent to open tournament -- commitment to financial markets to foreign investors despite recent turmoil in exchange rates. how significant is this move actually? we want to bring an end to current, who joins us now. >> it is producing of again, china signaling to foreign investors that we welcome your capital and you can move into the tope freely because stories capital outflow and they're very concerned that the volume of capital is leaving the country is putting pressure on them to clamp down on money that is leaving. on the foreign side of things, hey, you can move your money a bit more fre

i'm abigail doolittle at the nasdaq target site -- market site. now, more bluebird markets. -- bloomberg markets. ♪ alix: you are watching bloomberg. i am alix steel. this is your global business report. here is what we are watching. it is day two of the european union summit. we will bring highlights from german chancellor angela ma merkel. another term at the imf. the new challenges. first, let's start with the european union summit in brussels. negotiations with eu leaders are grinding on for another day. angela merkel has been front and center of the talk and offers her insights. not all thosekel: around the table had it so easy to agree. there is a will. what has also come out is this question of the closing union is one where there are very different opinions around the room. far one wishes to advance to ever close the -- so much benefit higher than the opposite. we have tried to compromise their as well. all countries around the table face it clearly that we wish to be ready for compromise of membership. alix: china's central bank is taki

and abigail doolittle, who was spent a decade on wall street. she spent time at the nasdaq on a daily basis. her twitter handle is @reaganonomist. creative. mike, we have a massive turnaround. stocks finish and positive. what changed sentiments? we heard some explanation from julie. >> julie is right. for better or for worse, the appetite for risk in the equity market now is joined at the hip with oil prices. julie is right, in many ways it doesn't make sense, but it is what it is. i think the focal point has shifted, not just from energy shares, to banks. rebound fromt the about a two-year low that the market hit on february 11, it was a blistering rally over 6% , bank s&p and the dow stock indexes up 10%. people are keying in on the banks as far as the all clear signal. >> has it bled into european banks? , thelot of the concern u.s. banks are exaggerated. but it is what it is. for technical charts and so forth, i read at -- and the05 s&p 500, what have you been watching? so many days of inter-day volatility. should we trust the closing rally?

for a look at tech moves, abigail doolittle has more from the nasdaq in midtown manhattan. is less than 1% away from entering an official bear market as measured by a 20% move down from its july 2015 peak. degree because of the biotech sector. it has been big tech that has been the big drag on the index all year long. ironically today, the index maybe helped out by apple. shares have been going up and down. there were reports that apple is on course to open stores in india and expanded global footprint. weight inhe biggest the nasdaq, so they will be key as to whether the market holds its lows. facebook, the third biggest drag be to -- behind microsoft and amazon, says it will not be able to offer its site under a free basic plan in india. just last week, facebook was one of the only to be of year to date on its strong first quarter. now down on the year. it appears to be heading toward its 200 day moving average. the question is whether buying support will hold. brendan: thank you, abigail. let's go down to mark barton in london. mark: check out the final close. we are see

abigail doolittle has more from the nasdaq. we're looking at a rally here at the nasa but with a renewed focus on pharma and drug pricing, let's take a look at the pharmacy benefits manager company underperforming the nasdaq significantly this year. investors are worried that the company's largest customer, and them, may make good on its threat unless express groups provide cost savings on drug prices. seven months we have seen the concerns takedown biotech and other companies. it seems that there may not be too much relief insight for many of these companies, including express scripts. betty: abigail, thank you. still ahead, as we mentioned, martin shkreli facing the music on capitol hill this morning, kind of. the former turing ceo did not have much to say at a house hearing on drug pricing. there was strong criticism of dalliance pharmaceuticals. we will monitor the house hearing -- that is the chief commercial officer at turing testifying now. you can continue to watch the hearing on the bloomberg at the function live go. â

abigail doolittle has more from the nasdaq. whipsaws asot of the index continues to flirt with the possibility of a bear market. we reached out to a managing director who is in the flow of things to see what he thinks about the possibility. he says we are in a bear market. people are going to have to come to terms with the fact the long bull run is over. distinct to 2016, we have seen the disappearance of the tip buyer, the pension funds who would step in and by the dip . in the absence of that, it is likely we will see a lot of volatility to the downside for some time to come. specific to the nasdaq, he said high multiple stocks -- we take a look at the momentum stocks. netflix, amazon, big multiples, all of those are some of the worst performers. where is an investor to hide in this environment? one relative winner could be apple. thank you so much. that is exactly what we want to talk about with our guest. staying with the nasdaq, almost in a bear territory as abigail talked about. it is down nearly 18% from the summer high

., abigail doolittle has more and you are watching the ninth back. twitter is trading higher on a report that silver lake could be expecting a deal of some sort. down 75% froms its peak as the company tries to make an overhaul to boost growth. what might stand out the most is the juxtaposition between the stock's performance and the overuse of the finance twitter-atti. if they can boost that growth. quickly, alphabet is trading higher ahead of its q4 report today. later after the bell, it will round out the saying news for the current season. netflix and amazon have done poorly, however facebook put up a great quarter. let's see where alphabet fits in. here, lookingtic for the first segmented report to see how big the growth is, but lots of volatility out of the last three months. betty: thank you abigail. let's stay on google and twitter. to get a preview of their earnings report, more detail, paul sweeney. paul, there is a lot of talk about more transparency coming out from alpha that. is that going to be a good thing? paul: i think it is. one of t

abigail doolittle has the latest. we have turned decidedly lower? we open slightly lower than were up half a percent on a recovery in big tech. now, we are back down as amazon has turned lower. one stock that is opened and , even asigher is tesla brian johnson reduced his price target to 165 from 180 and reiterated his underweight rating. he said expectations on fundamentals need to come in to check. intense selling pressure and a shortage of 30%, today's bounce might just be a brief reprieve. betty: more ahead on bloomberg "markets." we will be back. ♪ ♪ in the nation's first primary is underway. donald trump tweeted that the polls are showing that i am the best to win the general election. for the latest political news, let's bring in steven yaccino from manchester, new hampshire. what are the polls saying about who will win? n: donald trump is probably right. i went to a trump rally. it was a blizzard and he packed a large chunk of an arena. lots of people showing up for donald trump. we expect a lot to show up today . he is leading by wide m

the nasdaq,m abigail doolittle has the latest live from the nasdaq. she is from midtown, manhattan. the big story is the nasdaq is less than 2% away from entering an official bear market. apparentlyock trade is going sour. investors are starting to worry about valuation. the big point drop all year long. microsoft, amazon, facebook. you could make the case that started in biotech. high valuation, this last year was trading at a tripled digit price to earnings multiple. very high and expensive. investors running -- wondering, how long is this sustainable gekko twice this year it has been in a bear market. it appears that could be what is ahead for the nasdaq. brendan: platinum prices plummet, the world's largest producer of the metal said production will fall sharply as low prices are crippling the ability to replace crippling minds. amtrak is cutting costs where it can. thee does this leave producers gekko ryan chilcote standing by. n: anglo-american platinum having a great day. the ceo of the company, the joinss largest producer, us now. a little bit further south of us. today you

abigail doolittle is at the nasdaq in midtown. lots of focus on the consolidation in the chip space as western digital is buying and disk in a stock and cash deal. -- sandisk in a stock and cash deal. comingompanies are together to fight shrinking customers and rising costs. one company's focus could be on the move is nxp semiconductors. perhaps it would be some sort of m&a deal that could help the stock recover from its more than 40% drop from its record peak last year. vonnie: to mark in london. we have been speaking with the chief executive of an xp -- nxp in barcelona. what is driving the growth story today? talking about the internet of things, chips it can connect. cars, appliances. everyone is so worried about the fact that they are very exposed to apple. stock has been so beaten up. i was speaking to the chief executive of nxp. have a listen. i think we will continue to see consolidations in the semiconductor industry because it is not going to grow as fast as it did a decade ago. i think it's natural that we will see you

abigail doolittle spent more than a decade on wall street as a research and chart analyst. spencer, talk to us about this news from chesapeake. the clock was ticking here. spencer: the clock was ticking and still is taking. they did a report that they would pay off their bonds last month. we knew that based on the debt exchange they washed in december to telegraph that they were likely to repay that bond. the biggest surprise to me was they and yesterday with only $300 million in cash. they had $1.5 billion in cash at the end of the third quarter. we knew a lot of that was going to go in fourth quarter because they had maturing that's they had to repay -- maturing debts they had to repay. between december 31 and over the last seven weeks, that has gone to $300 million. what is happening to all the cash? for chesapeake, the primary focus they have to have over the next year is liquidity. tracy: did we hear anything on the call about what actually happened to the cash? spencer: we did not hear what happened to the cash. they said they used some of it to buy back bonds but the

i am abigail doolittle. now, more bloomberg markets. ♪ scarlet: you are watching bloomberg. i'm scarlet fu. are watching.e the world's's second-biggest mining company is stealing commodity prices. we will look to the ceo. u.k. deal talks at the will be front and center. we will speak with one of the biggest supporters of stay -- >> changing its tune on compensation. the latest is just ahead. first, let's start with rio tinto, the world's's second-biggest mining company is seeing damage done. itl-year profit fell 51% and plans to reduce spending by $3 billion and slowdown on acquisitions. isat this stage, there nothing out there on the market that interest us. while were holding focus on developing our own assets. they came up short in the fourth quarter of the second largest bank in france posted earnings that missed estimates. profit fell at the investment bank and the bank set aside money for potential legal costs. >> the debate will be front and center during the summit next week. one of the biggest supporters in the eu explained the current climate. >> there is an anti-p

. ♪ abigail: welcome back to "bloomberg markets." i'm abigail doolittle at the nasdaq. we have the three major averages down by half a percent. the nasdaq is well off its opening low-speed still, the nasdaq is 2% away from a potential bear market. dragging on the nasdaq are shares of viacom. the stock is plunging after the couple he missed fiscal first-quarter sales estimates by 3%. the company chair says a rebound is coming and doubters will be proven wrong. with many activists investors pressuring management and the stock now below the buying support of recent lows, it may be some time before that possible recovery materializes. one stock really exemplifying today's volatility. tesla shares had been up sharply and now flat ahead of the company's earnings report tomorrow. analyst brian johnson at barclays lowered its price target to $165 from 180 dollars m reiterated his underweight rating, saying the fundamentals here need to come and check it . that is down as the stock is worrying-to-date, wearin about a short interest bear rating. i am abigail doolittle at the nasd

abigail doolittle has more from the nasdaq in downtown manhattan. abigail: we are looking at a big selloff. one that is leading and outpacing the others averages. this is for two reasons. we have a lot of weakness in biotech. we have big overweighting to big tex, cymer to all year, these names are down significantly. we are looking at amazon, apple, facebook, all down in sympathy with linkedin. plus, yesterday, cornerstone macro was out yesterday saying the momentum stock level -- stock bubble makeup. only look at amazon and netflix, amazon is down 25% from its record peak as is netflix. you almost have to wonder if that is a telework the comfort tech. switching to health care, another stock plunging. athena health care. care services company. shares are down after their fourth-quarter revenue missed. stock is trading at a huge premium. 243% premium. 25% short interest. all of this is bearish money and suggests the stock may drop to the bottom of its range. vonnie: thank you so much good let's check in on first word news. courtney has more from the

you, abigail doolittle at the nasdaq. we will have more on tesla in a moment. surprisinglyd a good january despite the monster snowstorm that hit the east coast late in the month. sales of fiat chrysler and general motors rose compared to this time last year. ford sales declined but were better than expected. the monster blizzard dumped more than two feet of snow on the mid-atlantic. it closed a number of dealerships for several, several days. does this mean the auto industry can expect a second straight record here, 17 million dollars-plus in sales? i want to go to bloomberg news reporter jamie butters. what happened in january? julie: it -- it was another great month. there was a sense that there was going to be a little bit of applause. there usually is after the rent closeouts. betty: december to remember. decembers tobers, remember. let's not ever forget them. some there was a shorter month, one less weekend. out fromfactor it all entrance into a very strong month, almost 4000 units better on an annualized basis then analysts were expecting. in the click w

stocks.ch and biotech abigail doolittle is live at the nasdaq with the latest. abigail: back to your session lows on the comments. today's really being driven by biotech and big tech. on the biotech side, we are looking at bio gender it on the big tech side, microsoft. the worst percentage performer in an effect 100, we are looking at western digital after the company announced its cash in stock acquisition would close in the second quarter this year. . down 6% from its 2014 peak. taking a look at another loser at -- on the day, the worst performer on the nasdaq 100 last week, down today as goldman sachs cut the rating to a neutral from buy. saidst robert jones revenue growth is under pressure and his new price target of $54, at twoower than the old dollars, buying support and maybe they hold on and recover to trade higher. thank you so much. we will check back with you again later on. the housing recovery appears to be on track. sales of u.s. resistant homes -- existing homes rose january. were on a steady pace in germany to the economic expansion. the senior e

abigail doolittle has more. >> the volatility is certainly one of today's big stories. nasdaq only fell back by half a percent late in the morning. here at the nasdaq, mainly in the red because of the big dragon big tech including alphabet, facebook, microsoft, and more recently apple. all of these companies reported december quarters and has had amazon, netflix, and intel. mixed at best. facebook is the winner. it is the only one of all of the big tech names that right now is up year to date to her let's see if that can hold if time progresses. today's big winner is yahoo!, shares up sharply after mark upgraded the stock saying the outlook is so weak that the company may have to consider seriously some of the strategic but they are keeping underclothes guard. the stock itself has been testing support quite recently, but there is a series of bearish lower lows across the last year suggesting the test of support may not be successful and there could be another like lower ahead. thank you. now to media, viacom has a new chairman. the position was given to the ceo. the mar

abigail doolittle is there to what is driving the benchmark into the red? you have seen pressure. >> you're right about that. the three-day rally, unless there is a rally, it appears there will be behind big tex, facebook, itetic, turned down quickly. down as 1% just minutes ago. one of the biggest percentage losers is jack-in-the-box. shares plunged after the company missed first-quarter earnings and sales estimates, by about 10% or the management gave week like thend it looks mcdonald's all-day breakfast is one of the problems for jack-in-the-box. there is one analyst defending the stock saying the weakness should be bought. the stock appears to be positioned variously, down 30% over the last 12 months, now over the buying support of lows, suggesting the weakness may continue in jack-in-the-box. on the other side, we have nvidia shares up. the company put up another strong quarter despite weakness and fears around china slowdown and fears of the strength was really given via the segment that allowed for a 7% sales beat. the company gave a good guide for t

abigail doolittle has more from the nasdaq. we are watching apple. abigail: welcome back, betty, and apple is one of the biggest point movers. the company filing a motion opposing the government's order to open the iphone of the shooter in the san bernadino terrorist attack, citing among many reasons a new burdens. some likely to go on for time with the likelihood of going to washington to be resolved in congress or the supreme court. andss it affects earnings revenue, it is unlikely to affect the stock's performance all that much. that is what investors are really looking at. in particular, the revenue growth forecast for the march quarter. the street has the negative revenue growth modeled into the june quarter. everybody is watching whether or not that happens. technically speaking, this stock has been trading very strong in recent weeks. if this continues, it could be bullish for apple and the stop higher. if the low $92, the shares could drop lower and it could be bearish for the nasdaq overall. betty: ok, abigail, thank you. issued lawyers have

abigail doolittle is at the nasdaq with the latest. abigail: very true what you just said -- a big selloff at the nasdaq all day, one that has intensified and accelerated as the day has progressed, leading averages for to be will main reasons, weakness in biotech. it is down from a percentage standpoint not just today, but also overall. it is deeply in a bear market that seems to be worsening. amgen,the culprits are regeneron, celgene, and biogen. some could be the sentiment of sell the big winners of recent years, but there are also renewed concerns that rising drug prices could spark activism in congress, something very few investors want to be involved with. the big question around that biotech market relative to the nasdaq, is it a tell of what is to come overall? the nasdaq is down more than 60% justlast july's peak, not national quite a bear market, but something to keep an eye on. the biggest drags on the big technology names including amazon, facebook, amazon, and apple, down in sympathy with linkedin. cornerstone macro says th

let's go to abigail doolittle. tell us why the nasdaq is outperforming. >> it is because of biotech. technologybiotech index is up nearly 1%. the week has been a bit of a seesaw. it is right now on pace for a weekly close of higher than more than 1.5% for the second week we gain -- weekly gain in two weeks. this is being driven by they contacted, including amazon, facebook, apple and intel. shares of the chinese internet technology company are down more than 10% on the week after the company actually be fourth-quarter earnings in revenue estimate by gross margins were done 18% on a .ear-over-year basis all of this has taken shares back below the two of day moving average for something that would be bearish. have typically recovered pretty quickly after the most we want to see what happens. dragged onhey shares of baidu, but this is not one of the performance of the nasdaq on the week after a great fourth quarter. up 33%ere year-over-year, and it looks like the investments in mobile are really paying off. that accou

brendan: abigail doolittle has the latest from the nasdaq looking at two stocks gaining on earning startinging with fossil. abigail? abigail: fossil shares are soaring on what was predicted could be a short squeeze after the fourth quarter sales beat across the board and analysts are somewhat lukewarm on the sidelines on a stock down more than 70% from its peak in 2012. analysts rick patel at stevens lowers target by 25% to $38 saying tough market conditions, the possibility of foreign exchange pressures. he says over the long term wearables could be a bright spot on a stock that is bullishly back above its 100 day moving average for the first time in a year. boosting the nasdaq the most today, priceline shares are up sharply after the online travel company beat fiscal first quarter estimates. kevin koppelman says the results show priceline is seeing strength despite the overall slowdown in the travel sector. his praise target suggests there could be 20% upside. at 1,540. a level well above the trading range this stock has been stuck in for more than two years. brendan? brendan: thanks, abigai

abigail doolittle has more live from the nasdaq on the tech shares. having l: we are certainly looking at that choppy trade at the nasdaq between red and green. the index open down and then it was up more than half a percent. now we are fluctuating around even. by strength is being given recovery and tacking putting microsoft, facebook, alphabet, and netflix dragging, however. we have a big biotech name down after the company missed fourth order earnings and sales estimates on a combination of rising costs and slowing growth in the company's key my drug. that's long as relative area for 2016, the company expects it to grow by 20%. compared to 54% in 2015. it is a reset of investor expectations. this shows and the stock that is down significantly over the last six months without any big catalysts on a near-term horizon. this stock may have to drop more in order for investors to be re-attracted to the story of valuation. thank you, have a go. abigail nasdaq back to europe, the possibility of the u.k. leaving the european euro and union -- european union

leaving the nasdaq is declines, and we go to abigail doolittle. : nonetheless, we are looking at a stock selloff, down more than 2%, with the nasdaq less than 2% away from entering a potential bear market, not just the biotech sector, but another entered a bear market last december, and one index entered its third bear market from its peak in january on what appears to be valuation and momentum mentality. down today,gs facebook. shares are off significantly after news that the company will not be able to offer its site in india under the free basic plan the company had been pushing. but just hours ago, the eeo mark zuckerberg wrote in a facebook post that he is disappointed that india is restricting free access to the internet and that they will keep working until everyone has internet access. downso, the stock is year-to-date and tends to be heading towards critical support. putting aside the relative strength of apple, that is up today, and big tech is down. facebook not alone, and it really seems to be coming undone. some of these names are down 30% here today. the top two stocks in t

abigail doolittle has more alive from the nasdaq. >> we have a rally at the nasdaq. the biggest boost his priceline with shares soaring after the company need fiscal first-quarter estimates. results show priceline is still seeing strength despite a slowdown in the online travel market. there is more than 20% upside. 1000have a price target of 200 and $40. they are well above a trading day. target. brendan: let's check in on the first word news. courtney: in nevada, hillary clinton and bernie sanders are in a virtual tie among likely democratic caucus goers according to a new cnn poll. 48% say they support clinton while 47% support bernie sanders. the democrats have their caucus saturday. donald trump leads the gop field with 45%. marco rubio, ted cruz are in a virtual tie for second place and the republican caucus comes up tuesday. donald trump and ted cruz are locked in a battle for south carolina's evangelical voters. the state primary is days away and trump is reaching out to new school evangelicals. ted cruz is willing the more traditional evangelicals. trump mai

for a look at tech movers, abigail doolittle has the latest live from the nasdaq. gail: after dropping 40% year to date, tesla shares are soaring today after the company's guidance in 2016 is better than was expected. 78%company is projecting year-over-year growth popping a unit range that was above that of wall street. come investorsup and analysts are focused on that number as opposed to the $.87 loss they posted for the fourth quarter versus the 10 sense profit the street was expecting. there remains a high bearish short interest of about 30%. some investors continue to think either musk will fail to deliver. another big earnings story is cisco shares up nicely after the company's fiscal second-quarter earnings and revenue both beat. the company guided strong for the third quarter suggesting it 4%.row by investors like this. it blocks the bearish trend of other big tech names. the company mentioned that in the month of january, they saw some slowing and orders but the ceo said i don't think there is any panic here. let's hope he is right. betty: thank you so muc