Did Twitter Miss Out?: Bloomberg West (11/08)

Your next video will start in
  • Info

  • Comments


Nov. 8 (Bloomberg) -- Full episode of "Bloomberg West." Guests include Merriman Holdings CEO Jon Merriman, Zuckerberg Media's Randi Zuckerberg, Disney CEO Bob Iger and New Relic CEO Lew Cirne. (Source: Bloomberg)

Preview of what to expect.

Thank you so much for coming in.

We will be on the markets again in 30 minutes.

"bloomberg west" coming up next.

? live from pier three in a foggy san francisco, welcome to the early edition of "bloomberg west." i am cory johnson in for emily chang our focus is innovation, technology, and the future of business.

The twitter $1.8 billion ipo was met with huge demand.

The shares are soaring but does the 73% pop in the stock come at a cost?

Disney's marvel characters are coming to several new original series from netflix.

We will sit down with the disney ceo bob iger for the back story.

The third tesla model s caught fire after striking an object on the highway and the news is scaring away and testers but does tesla really have a safety problem?

After a very strong showing in his first day of trading, twitter shares seem to be cooling off, down almost four percent on heavy volume.

The stock is up more than 65% from its initial price of $26 per share.

The huge pop has some people saying that twitter was too conservative, leaving billions on the table.

Did the company miss out on a lot of money that could have been reinvested into twitter?

Are the critics misguided?

When you look at this deal and you look at the sizable difference between the pricing of the stock and the actual trading on the first day, does that tell you that twitter left too much on the table?

It's a tricky process print they might have been overly sensitive to the facebook effect.

They made a tight deal and they priced at low.

Meaning only 10% of the shares offered?


What effect does that have?

Limiting the number of shares, does that tell you they are trying to attack this problem?

Absolutely, they deny -- they might not have wanted this degree of pop but they have the patina of a high-priced document make some people happy.

You do the math and look at where they were and what they raised which was 1.8 l you and dollars which is a lot of money for this company but then you look at what they could have raised in the number could have been a lot bigger.

Does this suggest they are already thinking secondary?

Will they go back to the table for a second offering?

As soon as possible, absolutely.

I went and looked at the big ipo's over the last couple of years.

The amount of money raised in second terry has been all over the place and so has the gap in time.

Maybe zynga is one that comes to mind where they had a secondary 180 days after the offering.

The pop and those stocks in every case is pretty egg, selling shares so quickly, is that a good thing for a company to do?

At the end of the day, the mission for the company is to preserve the enterprise and be around for a long time.

The docs are quacking, so to speak, so let's feed them and that's what is going on.

Zynga raised $100 million but sold $560 million in the secondary offering.

The ipo seemed to be only the appetizer.

Do you think goldman sachs in particular managed this deal well?

I think they did a great job.

I like how they laid out the ibita targets for the customers.

It wasn't done in the face but deal.

It showed how you take away a competition and it would be profitable.


You have an analyst who is the lead tech banker at goldman sachs, what effect can you see that anthony noto had on this deal?

And analyst lives the stock market.

As an analyst, this guy cares about price, stock action, trading.

Investment bankers are sometimes disconnected from that.

Noto being a former good analyst was sensitive to the stock trading and the process given the time on the road and putting out the adjusted ibita margins, i think that was all handled well.

When i saw the pictures from the floor, you saw the twitter founders and the founder and they are standing behind the former dartmouth football player.

He was standing there in the background.

I like that.

What is it then analyst really brings?

Why are they so much more connected?

I know many bankers that don't pay attention to how things trade.

There is the deal and then there is the aftermarket and i think there is a sensitivity on his part.

-- to how this thing will trade and how the process will go.

He would not have executed a facebook-type of ipo to deal with that huge decline.

Do you expect to see more companies and the twitter universe coming out now that this deal will has such a success?

Sure, the docs are quacking and this stuff makes me nervous.


Yes, the fed has helped us.

We've got tons of liquidity sloshing around and this is a direct reaction to all liquidity.

It is not a good sign.

The animal spirit is paying 25 times forward sales for a company that is relatively small.

It is a great company.

Everybody knows about it and it's great but 25 times sales and a big number makes me nervous.

This is the most expensive stock in all of technology.

We will keep an eye on this.

Always a pleasure, thank you so much.

More trouble for tesla, another tesla model s has caught fire in tennessee after a driver struck a tell hitch damaging the cars undercarriage.

A three percent fall in stock after the news came out.

This is the third model s fire in five weeks.

A tesla spokesperson says the company is investigating.

They are calling for federal regulators to look into the incident.

Our transportation reporter has been following the story.

Good to see you.

Talk to me about the tesla reaction.

There has not been a great deal of reaction so far.

They have kept fairly quiet and that had not been the case in some of the previous incidents.

They have sent a team to review the situation in tennessee.

There was no additional follow- up at this point but it is clear they are taking it seriously.

Is this a real problem?

They had three vehicle fires.

Gasoline can burn final by itself but this is not a problem unique to tesla.

That is not wrong.

This is a fairly high incident rate, it would seem so far.

Three reported fires in five weeks.

The company has only delivered about 16,000 cars in north america.

It is a member -- it is a number that is not normal.

Have you read the incident report from the fire department?

The fire was put out in the guy was safe, the firefighters had a really difficult time putting out the fire.

They were not able to figure it out and were pouring water on it and thought it was out and it reignited and spent hours.

Didn't they put it on jack's? yes, that is one thing that is new and different with plug- ins and ev's. these are chemical fires which is different than a traditional gasoline fire.

That is a new challenge, certainly, for some of the safety officials.

Emergency crews try to put this out and there are additional procedures that they will have to learn.

That is one thing that is different.

Gasoline is very combustible and makes an excellent fuel but there is risk there.

We just don't know a lot yet about the specifics and what has caused these.

The circumstances and two of the incidents seemed somewhat similar where physical damage occurred to the battery casing, resulting in a fire.

We just don't have a detailed report at this point.

One analyst came up with some interesting numbers about the frequency of vehicle fires.

He used information from the department of transportation and what he found was that he found a metric about how many miles driven so for all cars, about every 46 miles, there is a fire.

For tesla, it looks like every 38 million miles.

The chevyleaf and the volt have had no fires and i wonder if that tells us something about the tesla, about electric guitars -- about electric cars, or if there is not enough information.

In the case of volt, in crash testing, there were some fire incidents.

They did not involve -- the circumstances were different and general motors decided to go ahead and strengthen the battery casing.

The leaf did not have fire incidents but it had some battery packs that turned out to be not quite as robust in the early models.

Those were replaced.

This is not necessarily -- it is too early to say if tesla has a problem -- these are new products.

They are new in the market.

A lot of the issues we won't understand until a lot of miles have been driven and until the vehicle suite grows.

We need more data to see.

Gasoline has been around for a century as the primary vehicle fuel and batteries have not been around in large number as a vehicle fuel until the last couple of years.

That's interesting stuff.

The videos are amazing to watch.

I posted the video of the mexican fire on my twitter account.

It has all kinds of explosions.

Good reporting there.

Thank you.

Coming up, disney makes a deal with netflix to make an original series and we've got a date for the next " star wars" film.

We will talk to the disney ceo about those.

? this is " bloomberg west," on bloomberg television, streaming on your phone, your tablet, and bloomberg.com.

I am cory johnson.

She is best known around the world as the sister of the facebook founder mark sucker bird.

She is a former marketing executive but randy zuckerberg is the founder and ceo of her own media company.

She has been talking about that recently in a book she has written.

Emily chang sat down with her.

I think it's possible in doses.

I am not asking people to do up complete disconnect.

That's not a great way to stay employed by i think if we can take moments for ourselves, we end up coming back to our work more productive, more energized.

For me, even if it's an hour, putting my phone away while i'm at the dinner table or just a few minutes of undivided attention with my son, that moment of disconnecting is important and something we should all try to integrate into our lives.

It is ironic since your brother runs facebook.

His mission is to connect the world.

You hear some enter it -- intimate anecdotes about him.

How supportive was he of the book?

My whole family has been so supportive.

I would never have written a book like this or told these kind of stories without their support and their love.

One thing that is so awesome about my parents and how they raised all of us and continue to interact with us is they celebrate every one of their kids achievements.


You could be running a billion- dollar company, you could be baking a delicious apple pie, it's the same to them.

I think that is a real testament to how supportive they have been and how supportive my siblings have been with this project for me.

You have also put out a children's book called "dot," about children and their use of technology.

What do you think today about how much screen time kids should have?

How much should young children be exposed to smart phones and tablets?

This seems to be the number one question i get asked when i speak with ahrens.

-- when i speak with parents.

Is there such a thing as too much or too little?

First of all, i think it is good for children to have a little bit of screen time.

These are the tools they will grow up with their whole life and you want them to be on par with their peer group.

You want them to be exposed to some technology and there is a lot of great stuff out there that encourages creativity and learning and interactivity.

These are great uses of these devices.

When it starts to get dangerous is when children are either using it as a habit or just passive viewing of the ipad videos being used as a babysitter.

It is up to us as parents to make sure children are using these tools to be creative, using them mindfully, instead of just handing them the ipad to entertain them.

You also talk about the importance of digital privacy especially when it comes to children.

Facebook just relaxed its privacy rules for teenagers, allowing them to post things online publicly if they want to.

What do you think of that move?

Do you think teenagers are capable of making smart decisions that they will be happy they made later when i post online?

I think it completely depends on the teenager.

It really depends on the teenager's relationship with their parents.

Some children will be ready, especially maybe if they have older siblings or have heard run them at home and have gotten used to this.

It is really important for parents to have a very diligent conversation with their children about what it means.

Do they want that photo or that post to be searchable for them when they are applying to college or a job?

They should encourage them to think before they post.

We live for ever online now.

On the last earnings call, facebook acknowledge that teenagers are logging on a little less two-faced look.

-- are logging on a little bit less to facebook.

What does facebook need to do to keep teens and kids coming back?

I think the instagram purchase was excellent for facebook in this area.

I know many people spoke incredulously when they purchased instagram for that amount of money.

Now you see the real future of how teens and young people are using social media and it's completely visual.

Everything is instantaneous photos, videos, life logging.

These teenagers want to document every moment of their lives.

There is a statistic i read that said that 60% of teenagers think about how they will document a moment before they even experience that moment.

I think instagram was a key purchase for that level and facebook keeps having to double down in visual and mobile technology to enhance their offering for younger users.

I am so tempted to shoot a selfie right now, but i won't. we will be right back with "bloomberg west." ? this is "bloomberg west," on bloomberg television, streaming on your phone, your tablet, and bloomberg.com.

I am cory johnson.

This week, london is hosting the international 3-d printing show.

It is tracking the latest in technology and innovation.

Ryan chilcote took a look at the potential for this technology.

3-d printing, everyone can create just about anything.


3-d printed high heels?

We are now printing everything from cap walk accessories to the silver screen superheroes.

What about the more down to earth world?

This is a 3-d printed car.

Everything you see, the orange is 3-d printed.

Let's take a ride.

Let's do it.

These people built the world's first 3-d printed car.

It is fragile.

This is the first prototype.

How far are you from your second prototype?

$3 million.

And about two years of effort.

If 3-d printed cars feel like a distant prospect, there are areas where the technology is already making inroads.

What exactly here is 3-d printing?

Most of what we see is 3-d printed.

We have many applications.

Pick it up.

This is made from a ct scan of the patient.

One-man is printing some cells.

-- stem cells.

Maybe even organ someday.

The jury is still out on what the impact will be for mass manufacturing.

General electric is jumping into the 2 billion-dollar market.

Foxcon calls it a gimmick.

That's not a good look.

One thing for sure is 3-d printing has a long road ahead.

Time for "on the markets," a look at what is moving in the markets every hour.

Julie hyman is in new york.

Let's get you caught up in terms of stocks.

Stocks are reacting positively to this morning's unemployment report and jobs report.

Jobs were added last month, 200- 4000, which was higher than the 120,000 that had been estimated by economists in previous months.

The nasdaq is up the most today, 1.4%. let's talk about individual stocks like irena pharmaceuticals.

It is receiving a payment with a marketing agreement with a chip set japanese drug company.

Mcdonald's reported that global comparable sales rose half a percent in october and u.s. sales work a sticking point, rising only 2/10 of one percent.

The shares are lower and we will be "on the markets" again in 30 minutes.

? this is the early edition of "bloomberg west." you can also catch us at our later time, 3:00 p.m. pacific.

Here's your top headlines -- surprising jobs report for october, employers added 200- 400 -- 200 200-4000 jobs.

-- 204,000 jobs.

It's being called most most powerful typhoon ever to make landfall, the super typhoon slammed into the philippines packing winds at 190 my -- 195 miles per our and, power and damaged an estimated 35% of the country's crops.

It is expected to hit vietnam next.

Secretary of state john erie tempered expectations for a possible deal to keep iran from developing nuclear weapons.

He says there is no agreement.

He is engaging in talks with the iranian foreign minister later today.

The walt disney company reported earnings last night and net income rose 12% for the quarter.

Jon erlichman joins us now from los angeles.

What can you tell us about what's going on with espn?

It is a massive part of the disney business.

We always hear the story about how disney is able to get the huge affiliates tied to espn because of that programming which costs a lot of money to buy up front but there is a big business behind getting that content on air.

Here is the back story -- on monday night football, the jewel of the espn empire.

It's nearly game time at new jersey's metlife stadium, week seven of the nfl season, the espn crew has rolled into town3 monday night football is a big deal.

It's the only game on that night and everybody is watching.

This is the espn monday night football coach.

He gives the shows room to breathe.


It's the next best ring to playing.

Monday night football may be the crown jewel of espn.

It pays $1.8 billion per year for the rights to the weekly broadcast rate it works out to more than one $5 million per game.

To get bang for its buck, espn lines up an emmy worthy production.

Roughly 35 cameras capture the game.

Isn't there a hall of fame touchscreen?

By seasons end, the shows 10 production trucks travel 10,000 miles is crossing the country.

The game still attracted an average audience of 13.2 million viewers despite how the game turns out, reminder of how primetime games and how popular they can be.

We recognize we are the current caretakers of a 42-year- old property in one day it will be gone.

We never lose sight of that.

Football becomes a really important part of a lot of these big media companies.

This is just one example.

You think about directv and nfl sunday ticket.

There are so many of these media companies that are strongly tied to the business that is the nfl.

Espn is a big part of disney but only the part of the company that is doing well.

You saw better than estimated revenue in things like parks business, the fact that their games unit, interactive games, has been fueled by the recent launch of " infinity ." disney decided to announce that the new " star wars," the first to come out under disney -- lucasfilms will come out.

We spoke to bob iger about that and asked about the timing of that day.

This is obviously one of the most important films we are working on right now.

One of the things that was very important to us is that we give the creative team, j.j. abrams and his writing team the time to design, write, and produce the film so that we can optimize quality and so we can create a great film, so they can create a great film, very important.

We consider the summer of 2015 that with changes we made in the writing team, that was going to create a russian we did not think that was optimal for obvious reasons.

Christmas, 2015 became the date.

It happens to be the date that " avatar," the number one movie of all time was released and would like that and that will bring good luck even though that was not our film.

Christmas is a good time, we think, for a film like " star wars" which will have obvious interest from young and old alike.

No doubt, obviously these films help to be the anchor for other parts of the disney empire.

There has been so much discussion on blogs about the exciting things you referenced last quarter coming at disneyland.

People are wondering if tomorrow land will become star wars land, anything new you can share?

The only thing i can share, which i don't think we talked about much, is that there is a fair amount of development going on to expand the star wars presence in california and in orlando and eventually in other parks around the world.

We do have star wars in other theme parks like france, harris, and in tokyo.

We have not made anything specific -- made any specific announcements about what will be in shanghai are what we are adding to hong kong after we build an ironman attraction.

I think it is probably likely that star wars will be in more than just our two domestic parks.

Thanks for sharing on that front.

You had earnings today.

The star wars released date, you started the day with this announcement of a new deal with netflix for original tv shows tied to the marvel characters.

There was no financial attachment or numbers connected to the deal but how financially significant could this be?

There are numbers, i promise you.

This is a really smart deal, we think, for netflix.

They have done well already with some investments and original programming.

Turning to branded programming i think is a smart and big step for them.

Marvel certainly provides that.

This gives us an opportunity to create and own four new series that netflix will have exclusivity for that will start in 2016 when the series are made available to them.

We are obviously getting paid a price that makes sense for us.

We are not going to be specific about that -- about what that is but these will be well produced series that will take production investment to deliver the kind of quality we promised to netflix.

From an economic perspective, the money we are being paid is something that makes sense to us given what will be the investment of production.

That was disney ceo bob iger on the new deal with netflix.

That was a great interview, thank you for that.

Blackberries new chief has a new turnaround effort ahead of him and is getting paid big time for that effort.

I want to go to president obama in new orleans on the heels of his big announcement of 200-4000 jobs created.

This is what he has to say about building infrastructure.

We've got a lot of good things to build on but we've got more work to do.

What we should start doing, the first thing we should do, is stop doing things that undermine our businesses and our economy over the past two years.

There is this constant cycle of manufactured crises and self- inflicted ones that have been coming out of washington.

For example, we learned yesterday that over the summer, our economy grew at its fastest pace of the year, that's the good news.

The bad news is that the day the economic quarter ended, some folks in washington decided to shut down the government and threaten to default on america's obligations for the first time in more than 200 years.

It's like the gears of our economy, it every time they're just about to take off, suddenly someone taps the brakes and says not so fast.

[laughter] now, our businesses are resilient and we got great workers so as a consequence, we added about 200,000 new jobs last month but there is no question that the shutdown harmed or jobs market.

The unemployment rate still ticked up and we don't yet know all the data for this final quarter of the year but it could be down because of what happened in washington.

That makes no sense.

These self-inflicted wounds on have to happen.

They should not happen again.

We should not be injuring herself every few months, we should invest in ourselves.

We should be building, not tearing things down.

Rather than re-fighting the same old battles, we should be fighting to make sure everybody who works hard in america and hard right here in new orleans, that they have a chance to get ahead.

That's what we should be focused on.

[applause] which brings me to one of the reasons i am here.

One thing we should be focused on is helping more businesses sell more products to the rest of the world and the only way those products get out is through facilities like this.

Right now, exports are one of the brightest spots in our economy.

That is thanks in part to new trade deals with countries like panama and colombia and south korea.

We now export more goods and services than ever before.

That means jobs right here in the united states of america.

Last year, everyone billion dollars in export supports nearly 5000 jobs including jobs right here in this port.

We are working on new treaties that will mean more jobs for our workers and more business reports like this.

One when i travel around the world, i am out there selling.

I will go anywhere in the world to make sure that those rocks stamped with the words " made in america," that we can open up those markets and sell them anywhere.

[applause] helping american businesses grow, creating more jobs, these are not democratic or republican priorities.

They are up for a orgy that everybody -- they are a priority that everybody should be able to get behind.

In addition to working with congress to grow our exports, i put forward additional ideas where i believe democrats and republicans can join together to make progress right now.

Number 1 -- congress needs to pass a farm bill that helps rural communities grow and protect vulnerable americans.

For decades, congress found a way to compromise and pass form bills without a fuss.

For some reason, congress cannot even get that done.

This is not something that just benefits farmers.

Ports like this one depend on the products coming down the mississippi.

Let's do the right thing, pass a farm bill, we can start selling more products, that's more business for the sport and that means more jobs right here.

[applause] number 2 -- we should fix our broken immigration system.

[applause] this would be good for our national security but it also would be good for our economic security.

Over the next two decades, it would grow our economy by $1.4 trillion.

It which triggered deficit by nearly $1 trillion.

This should not be a partisan issue.

President bush proposed the broad outlines of commonsense immigration reform almost two decades ago.

When i was in the senate, i joined 23 of my republican colleagues to back those reforms.

This year, the senate has already passed a bill with broad bipartisan support.

All we are doing now is waiting for the house to act.

I don't know what the holdup is.

If there is a good reason not to do it, i have not heard it.

There is no reason both parties cannot come together, get this done this year.

Get it done this year.

[applause] number 3 -- democrats and republicans worked together on a responsible budget that sets america on a stronger course for the future.

We should not get caught up in the same old fights.

We should not just cut things for the sake of cutting things.

I want to remind you that deficits are going down.

They are shrinking.

They are falling faster than they have in 60 years.

What we have to do is do what america has always done, make some wise investment in our people and in our country.

That will help us grow over the long-term.

We should close wasteful tax loopholes that to not help our jobs, don't grow our economy, and then invest that money and things that actually create jobs for our economy.

One of those things is building new roads and bridges and schools and ports.

[applause] that creates jobs and puts people to work during the construction phase and that creates a member structure for our economy to succeed moving forward.

Educating our kids, training our workers are they are prepared for the global economy -- that helps us grow.

We should be investing in that and mayor lander has been doing a great job in improving education in new orleans.

[applause] investing in science and research and technology -- that keeps our businesses, our military at the cutting edge.

That is the kind of investment we should be making.

Think about our infrastructure -- in today's global economy, the this this is will take root and grow are ever there is the fastest and most reliable transportation and communications networks for it they can go anywhere.

China is investing a whole and europe is investing a whole lot, brazil is investing a whole lot.

What are we doing?

We are doing some good things locally in the state or city and trying to do some work but nationally, we are falling behind.

We are relying on old stuff.

I don't think we should have just old stuff.

We should have some new stuff.

That is going to help us grow and keep pace with global competition.

Rebuilding our transportation and communications networks is one of the fastest ways to create good jobs.

Consider that just a couple of years from now, we will have new supertankers that will start coming through the panama canal.

These tankers can hold three times as much cargo as today's. if a port cannot handle those supertankers, they will load and unload cargo somewhere else.

That's president obama's eating at the port of new orleans about ways to increase infrastructures ending and jobs in the u.s. area o phil mattingly joins us now.

Give us some context as to what the president is trying to tell us.

The president is pushing two things -- one is exports, the administration has been big on trying to double the exports over their term and they're not after goal.

New orleans is a city where experts have increased but 100 40% since 2009. it is a prime example of places were exports can grow, showing how it can work ar.

It is also infrastructure spending which the administration is big on and they want to figure out a way to get congress to enact legislation that will boost spending and help roads come up bridges, and building new ports.

It is always difficult to get the current congress to agree to furniture spending -- to future spending.

He has been boosted by gdp at 2.8% on the jobs numbers today, 204,000. the administration is pushing forward more economic growth in the wake of the government shutdown and debt ceiling debacle that everybody expected to have harmed the economy.

Interesting stuff especially on the heels of the job numbers.

Thank you very much.

Turning back to technology,new relic is a new company that looks at the way apps gather data and make it meaningful to companies that develop them and joining me is the ceo of that company.

Talk to me about what is working in the app business right now.

Every company is becoming a software company, companies large and small.

If you are a member -- if you remember mark andreessen, he said every business need software to function and grow and new relic will make that work well in production.

Is there a new kind of thing happening in the app world?

I feel like the gathering of big data is happening in size right now.

It seems absent and other things, there's so much more data being created but not necessarily figured out yet.

The reason why that's happening is because the software systems are so complex.

There are so many things going on to make a webpage happen or make it possible to check your flight status from your phone.

You need to measure everything going on inside those transactions.


If you want to understand how it performs for your customer and whether it's working, you have to observe how that is working.

Many of the specific app companies are small.

Investors look at these companies and say this will not be a huge business.

Does that change the way they consume the tools that help them understand their apps?

Every business can be a software business and small and large companies alike need to understand what their software is doing to succeed and grow.

His store click, tools like what we offer, have only been available to the largest companies.

At a harp -- at a high price for it we can reach companies of all sizes and we have they companies like bloomberg and comcast and smaller companies that use our services.

Give me an example of how they can change their app to work better.

People on this website want to know if they load a page that if the page 615 six to load, people and bloomberg are saying we should make that three seconds or less.

Where we are going is helping them understand how many people are logging in to the website or on the mobile app and what are they doing in what can we to modify or software to make them more engaged and active with their web properties?

Give me a before and after example.

Coming up on we've got a company that was trying to roll out apps to their software base -- and what does it do?

Our software would tell them when a spike in traffic happened because people were coming on for a flash sale.

We saw that slowing down and we said this is the problem that is causing the slowdown.

Fix that and people can log in and conduct commerce.

This is keeping a business open.

What were the tools that were used before your company?

I found of first company to do that.

It was your fault.

The company was required in 2006. -- was acquired in 2006. new relic has 70,000 customers at a fraction of the cost britain we are democratizing the software.

Every business needs to make sure their software works.

Thank you very much.

More of "bloomberg west" after the break.

? welcome back.

Coming up on the late edition of "bloomberg west," the priceline ceo is leaving the company after 11 years.

What challenges lie ahead for the man set to replace him?

It is 56 past the hour but julie hyman has "on the markets" it is 1:56 p.m. we are seeing stocks rise to the highs of the session.

There was a better than estimated jobs report and the s&p is up early one percent.

In terms of individual movers, first is nvidea.

It rose after the company reported a third-quarter profit that beat analyst estimates.

It said revenue from new business made up or a decline in demand for personal computers.

We are also looking at shares of monster beverage, the maker of energy drinks.

It reported a third quarter net income of three percent.

We turn to the fda.

They are looking to ban artificial trans fats because of their length to heart conditions.

They are in many delicious those.

They're common in snack foods.

The main vehicle is harshly hydrogenated oils per the purpose of the oils is to improve texture.

They make fries crispy and trans fats make pie crust flaky.

You see them in frozen peas is an pastry and breakfasts amateur's are.

It is in a lot of that or those so many restaurant chains are on the hook.

Burger king and kfc - let's back up -- you can make this stuff without artificial trans fats.

There is lots of food that does not have partially hydrogenated oil.

Yes, oreos started doing that.

Back in 2006, they do not use trans fats anymore and mcdonald's did the same thing.

Those fries are still pretty yummy and crispy.

The food industry is going out and the fda thinks it will cost $8 million is $8 billion to substitute to ingredients.

What is the food industry response?

I imagine they are lobbying against this.

I reached out to general mills and they said they have already taken trans fats out of 90% of their product and are taking this seriously and they will move as quickly as possible.

The science is clear that these trans fats clog your arteries.

If you can get them out of the food supply, you will save 7000

This text has been automatically generated. It may not be 100% accurate.


BTV Channel Finder


ZIP is required for U.S. locations

Bloomberg Television in   change