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tv   Bloomberg Technology  Bloomberg  January 26, 2017 12:00am-1:01am EST

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♪ kong.0 p.m. here in hong sources tell bloomberg that pboc has ordered chinese banks to strictly control lending after new loans surged in january. they have been told not to increase new mortgages of outstanding loans. one source says pboc may punish noncompliance lenders by hiking insurance cost. a stake in part of its recovery program. it is planning to sell 20-30% to multiple investors. not including a partner western digital. toshiba may withdraw from
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construction while keeping designs and delivery. china's a chin a group has been shopping again. one of its units have outbid 18 developments. holdings.the property aging a one with the bid of 709 million u.s. dollars. global news 24 hours a date journalists in more than 120 countries. let's get a check of the markets. china, allg and markets are looking positive. ♪ >> this is "bloomberg
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technology" the tech earning season heats up . the results ahead as the dow clocks in above 20,000. , the ceoco swoops in tells us how the $3.7 billion firstition terminated the major tech ipo of 2017. finally, lucky money turns digital. shenzhen to show you how that -- how the chinese tech giant is gearing up for the lunar new year. the earnings parade continues. ebay reporting results after the close. the chipmaker reporting sales that came in just shy of estimates. as you can currently see on the bloomberg trading, just slightly lower in after-hours trade.
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johnson'slarge, cory numbers. i think these numbers are in line with what the company smartphones became bigger. now that that business is a saturated business, the growth is not there the way it had been in the past. one major tea concern has been on every front, whether thee competition, but also litigation with licensing. any updates starting to talk out? cory: we know it has been going on for a long time. this suit from apple. andceo was asked about this what he thought the relationship would be like with apple. >> we intend to remain a good supplier to apple, even my just
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while this dispute continues. even though there is no better .ong-term been qualcomm we believe that our strong and highly differentiated product map will continue to be the foundation for our relationship, and covers a broad range of technologies that will be fundamental to new projects for years to come. from that we saw company was pretty strong. we saw 6.9% gross margins for the company. that suggests the apple sales were strong. coroline: and just how important the licensing is when it comes to the profit. cory: it is a fascinating business model. they create great designs. they charge by what the cost of the phone is, not the chip. ebay, it isok at jumping after-hours trading. we are up about 7%. the numbers do not like that phenomenal.
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first-quarter forecast to be relatively helpful. cory: that is all about the analyst. what you saw from this business was a little bit of progress here. particularly with the snapchat and their business in selling tickets. some of them thought revenues of 500%, gross margins i saw them at 500%. they were up 20%, that was really strong. the are capturing a higher margin of the business. coroline: there were concerns that amazon was eating into the auto part that led the charge. with ebay, they are trying to do a swift turnaround to try to make it easier for you and i to wait through the billion progress -- -- that they offer us. they do not want to to
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fall into amazon. the car business amazon might get away and amazon is starting to look at auto parts. ebay is dominant in that sector. right now they own that business. at&t, pre-released, we knew it was coming up in terms of subscriptions. nothing to report in terms of progress. these results were not as bad as horizons. they were not very strong results. you saw 1% decline. verizon was down 6%. verizon and at&t are both hurting. is not the best idea for the company. the norm asleep -- the enormously expensive acquisition is not good. the time warner merger, maybe they are hoping for adjacent diseases. after all the effort after so many decades of trying to add wireless, the least wireless
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directions are the ones that worry the lease. coroline: we will put this in the favor of a record-breaking market day. these are companies that, even though it did not seem that qualcomm was underestimated and hasn't hit targets, tech seems to be on track when it comes to earnings. is taking arket risk on day-to-day trading, and willing to go toward stocks. acquisitione cisco was interesting and had an infinitely higher price. it suggests that corporate are being made based on the evaluations at the market might be going to give the companies. coroline: they probably have cash to splash. see if that trend continues. us.ks so much for joining we will continue our discussion
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later in the hour. they just expended their partnership for the e-commerce giant. markets continued its record climb. all three u.s. averages closing at all-time highs after corporate earnings reignited investments in growth. we heard from cory talking about the risk on appetite. doubt trading above 20,000. this is a great function if you have bloomberg in front of you. it breaks down how we see the sectors. you know the i.t. is a big player in the nasdaq, but where is it in the dow? it is the second-best performer. it is driving forward those .ecord breaking numbers remember where you were when you saw that number. that was before cisco decided to snatch it up. we will speak with cisco ceo
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next. all episodes of bloomberg technology are live streaming on twitter. weekdays at 5:00 p.m. in new york and 2:00 p.m. in san francisco. this is bloomberg. ♪
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caroline: samsung is not the only company with battery issues. hp has recalled over 100,000 lithium-ion batteries and -- used in laptops. this is an expansion of the 41,000 recalled back in june 2016. the consumer product safety commission stated the reason is possible overheating that can just compose "fire and burn -- compose "fire and burn hazards." hp says it will provide free replacements for each eligible battery. cisco is making an acquisition.
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the world's biggest maker of networking gear is acquiring appdynamics for a cool $3.7 billion. cisco smashed the software maker just before it planned to go public. it was scheduled to go public wednesday in this year's first major u.s. technology ipo. bloomberg daybreak: americas team spoke to ceo chuck robbins earlier on the news. >> yesterday was a great day for us. we had on display two great levers of how we drive innovation in our portfolio. in the morning, we launched cisco smart board, which will fundamentally revolutionize meetings and business. one of the headlines was it was the coolest product cisco has ever built. in the afternoon, we made the acquisition of appdynamics, which we think is a tremendous synergistic acquisition. if you look at appdynamics, it is a cloud-based application performance management system, but in reality, what they do is translate application performance into business insights for the customer, and they do it across private and
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public cloud. we think the synergy of what we see at the infrastructure level and what they see in the application layer creates visibility that no other company can provide. we are very excited about it. i was there yesterday, 15 minutes after we made the announcement, i addressed the employee base and i think they are excited as well. a good day for us. >> i have a couple of questions about the deal itself. you paid a pretty high price, $3.7 billion. there were reports the ipo would go for half of that. it is a start up, so it is not making money. is it dilutive and at what point does it become accretive? >> when we looked at the company, there were a few things we looked at. they are the best company in this space and are growing twice as fast as their nearest competitor. third, they are growing faster
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than any publicly traded software company today. caroline: that was cisco ceo chuck robbins. staying with cisco's latest acquisitions, the record-breaking sale values appdynamics at about 18 times the company's revenue in the past 12 months, good news for investors. i am very pleased to say joining us now is one of those investors. -- co-led theat series b round in appdynamics. hats off to you, congratulations. how much did you put into series a and what is the reward? >> i made an investment back in april 2008, it was about five and a half million dollars and the company was not valued above $2.5 million. caroline: it was valued $11.5 million, now $3.7 billion that must be such a reward for you. did this take you by surprise?
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how long -- we understand there were talks with cisco late last night in the hotel's. when did you get the offer on the table? >> we signed the agreement minutes before the announcement yesterday. we were really proceeding down the path to be a public company, and i think the strong belief in the company's management team and the board that this could be a multibillion dollar business looking forward. cisco and the company did not know each other. a few days ago, chuck invited the ceo of appdynamics to his home, and that led to some very intense conversations with cisco's management team and the appdynamics team came to the conclusion that merging with cisco could help accelerate the mission of the company and gain market share much faster. caroline: if it had listed, do you think it would have got to $3.7 billion valuation anytime soon? >> is hard to tell because we
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did not go public, but the ipo roadshow was very strong. within a couple of days the offering was contrived. the best data we have is that if we had gone public, it would have been a very strong ipo and would have likely traded up. caroline: i think it is fascinating. you have been on the board of appdynamics. greylock helped this company grow, it was the first offices provided. they were working in graylock with year when this company was first born in 2008. do you think, apart from the price tag, cisco is the way to go? >> every company has to make their own determination whether to continue public or be acquired at some point in their life cycle. cisco is a world-class technology company, a world-class management team, just incredible resources. they can be an excellent home for appdynamics, both extending
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reach for the product line very quickly across the world's largest enterprises and also in terms of synergy with the infrastructure monitoring data that cisco has. combining that did it the application and business performance data that appdynamics has can be powerful. caroline: what does this say to the highly valued unicorns at the moment looking at the market and wondering whether to ipo, to be acquired? do you think this might put off others going public? >> i don't think so. i think the indication from the roadshow that the company undertook is that the public markets seem to be very open and very receptive for the best technology businesses. i was on the roadshow, the group met with cisco two days ago and it was standing room only. the room was full of public market investors, a very rich dialogue. just this morning, my email is full of messages from a number of public market investors
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around the country saying, congratulations, we really wanted to purchase stock in this company. caroline: now when you are looking at the money you have just -- you have returned your fund and then some. where do you next put money when you are looking at greylock? you have shown you are right stock picker. >> we are fortunate to have two very strong practices, enterprise technology and consumer. i spent my time on the enterprise side. enterprise really focused on the world's 20,000 largest companies, which is where the world i.t. budget lies. maybe just two i am intrigued by right now is taking ai and machine learning and applying it to use cases that can be deployed in very large companies. you are seeing value in that. and customer and business value. the other is cyber security, which continues to be an area very opportune.
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we continue to look at that area. caroline: the rest of the world should listen where you put your money next. we should be following your example. thank you for joining us, greylock partners and investor in appdynamics. coming up, china's biggest internet giants are vying for the attention of smartphone users for the upcoming lunar new year holiday. we will take you inside headquarters in shenzhen and a closer look at the mobile payment strategies. this is bloomberg. ♪ caroline: the chinese lunar new
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year tradition of handing out cash stuffed red envelopes has entered the 21st century, migrating to smartphones. millions of people expected to send this digitally over the coming days. according to $.10, users sent more than $8 billion in one day last year. with mobile transactions more
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than doubling to $235 billion, tom mackenzie went inside tencent's headquarters. tom: chinese yuan -- new year is a boom thanks to the digitized vision of this -- digitization of this tradition. well over one billion mobile transactions are expected as people fire off a virtual red envelope cash gift via their phones. valued at just $32 million in 2012, china's mobile payment market is worth $1.8 trillion last year, according to researchers. tencent and affiliated companies are the two big rivals in the space. there apps allow you to do everything, from buying a latte to taking out a personal loan. it is all about getting in and getting an edge.
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>> in recent years, we have seen many players in the mobile payments market, including commercial banks. the competition here is so fierce, it is almost brutal. tom: with more and more chinese embracing mobile payments, alipay and we chat have come to dominate with around 90% market share. that has drawn the attention of regulators, who are expected to ramp up controls this year. the people's bank of china wants companies to register their deposits state-owned banks. it is also developing its own crypto currency that could be used in online transactions. >> we follow all the regulatory guidelines of any institution offering financial services. as that adapts, which it has continuously has adapted and will continue, we adjust our model to reflect what the regulations require. tom: china's banks are feeling the pain. market research firms estimate lenders lost about $22 billion in payment revenue to alipay and
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we chat in 2015. that is not stopping at china's borders. and financial is trying to capitalize on the 150 million chinese who travel abroad every year, teaming up with venders in key tourist destinations to provide services. it has also invented -- and design further expansion. >> we can see most of the activity in this region, but we look closely at the u.s. and europe and the right strategy there as well. we do have a global perspective and ambition, and we will roll that out as we determined the right partners. tom: china's mobile payment giants are on a roll, is likely to be their biggest challenge yet. caroline: tom mackenzie joins us live now from beijing. thank you for getting up so early for us to read in the piece, you interviewed a lady about the brutal competition there was. who are the key competitors to
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hourly pay and we chat and how are they tackling it? tom: there is a lot of bloodletting between we chat and alipay. we chat expanded its market from 11 -- 11% whereas alipay expanded their market share last -- apple they launched. we also have the big smartphone maker here. they have their own -- but also , and jd finance looking at the wealth management side of things. pay and of what allie we chat are offering, they have got apps within an app that make it very easy to use their payment systems, whether that is managing her wealth or buying flights to travel abroad. for
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the challenges, they have to take on that element of things. apple has the brand strength, still a very popular smartphone maker. , it ise these codes in-store purchase -- purchases and purchases for apps. it is difficult for apple to combat market shares. caroline: you mention global expansion for india. what is happening now? tom: alipay has been leading the march. they teamed up with banks in europe and you can now use alipay at stores in london. have also teamed up with verifone in the u.s. they are making a big push on this. it comes down to branding and brand recognition. have they got that clout? that is going to be a key challenge. for the moment, they are focused on the huge number of chinese tourists that travel abroad every year, 150 million. caroline: bloomberg news reporter tom mackenzie, thanks so much. coming up, the start up that
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helped the likes of uber and opentable find condiments to -- customers through other apps. we will speak to the ceo on how the mobile commerce is app integration. ♪
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>> it is 1:30 p.m. in hong kong. at chinese industrial companies slowed in december as we can demands threaten to undermine growth. 3.2%, down from a 14% increase in november. industrial companies are struggling with debt and potential trade tensions within the u.s.. australia says china has extended its investigation into the attained crown resort in pleased by one month. chinese authorities arrested 18 crown staff in october of suspicion of gambling related crimes. the foreign minister said it is
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vote -- providing help for three australians among the detainees. to join the partnership on ai, the research group that includes amazon, facebook, microsoft and google. comment, but to when the nonprofit was announced in september, it anticipated in gaining extra members. apple, twitter and baidu were some of the noticeable absentees at the time. it is being confirmed that is moving toive facebook. mark zuckerberg says he will head up the company's program for virtual and augmented reality. saying he thinks it will be at the forefront of facebook's future. he has known to facebook's boss since the billing -- developing the operating system. global news powered by more than 2600 and analyst and analyst in more than 120 countries. you are watching bloomberg. let's get a check of the markets
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trading in asia. anne: we do have australia and new zealand closed for public holidays today. you are seeing that rally coming through. the dow hit that 20,000 point level for the first time ever, giving a good boost to investors. led by hong kong, also japan. the hang seng is a point -- by 1.3%. the nikkei is high by 1.6%. about half an hour trade to go we are seeing the stocks we again in japan. index is up for a second consecutive session. thai stocks up for a fifth consecutive session. very strong rally. convictionng strong coming through in emerging markets in general. a lot to do with the weakness we have seen and the dollar over the course of the week. that has given a good boost to em economies and em stocks. inna is up by a 10th of 1%
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late trade. china is sent to order banks to curve new loans in the third -- first quarter. daybreak europe. this is bloomberg. ♪ caroline: you are watching "bloomberg technology". back to our top story, tech earnings. shares has been dipping in post-market shares. sales came in shy of estimates and it may miss sales and profit estimates in the current period. at&t telling investors they are planning to sub 2% growth. the company could see better than positive 2%. another company we are watching, ebay reporting revenue to top estimates.
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shares popping in on the news. it increased 2% on the fourth quarter. ebay has been working to accelerate growth, re-banding -- rebranding to entice shoppers. the company has been facing increasing competition from amazon and brick-and-mortar retailers who are migrating online. michael jaconi is our guest. health move our apps. there is a thing about e-commerce. thank you for joining us. first of all, the turnaround in ebay seems to be working. looking back to your experience, are they going at it the right way? michael: thank you so much for having me. i'm not the ceo, but the director of the division. the experience there, what we were amazed by was the power of the market dynamic.
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ebay relying on it sellers is really the blood of the system there. you have immediate scale. you see amazon dipping more into their marketplace business, and this is because it enables a beautiful scale dynamic where anyone anywhere can list and sell products, and that empowerment was something i knew that we pursued, but i know it is fueling a lot of the ebay growth and success. caroline: apologies there. you are ahead of loyalty i believe. michael: yes. caroline: let us know about how you see the off-line to online world. our some of the players getting it when it comes to online retailing? michael: you are seeing an evolution where people are starting to recognize that there as an importance investing in new technology, where is 10 years ago, you had people establishing a viewpoint that mobile or internet was going to
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be a short-lived trend. in walmart's acquisition of jet, you are seeing companies really double down on bridging a strategy that allows them to be players in the online world. one of the interesting ones was an investment by staples, and managed by q. i think that was an example of two companies working together that if you thought back, you would have a difficult time predicting that would happen. caroline: your app helps the integration of two apps. you have been helping at but in ebay itself. where do you see that going? >> button, a two and a half year old company, we are trying to correct some issues we see as broken in the mobile ecosystem. but it feels tremendous growth and opportunity in the death top
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era -- desktop era. with ebay and other companies within our marketplace, the objective is to help them find buyers in places that it would be difficult for them to connect to, so the marketplace we created is designed to give them the opportunity to find more purchasers and places they would have difficulty building integrations into and scaling. because of the complexities of both platforms. caroline: let's dig into button. we understand you have a new funding round, $20 million on board, $34 million in total. talk to us about the expansion plans for this business. michael: it is really exciting. we started to validate where we see issue in the market today, and what button is trying to solve, linking structures is broken. when you utter the words i want during the desktop era, you would follow that with a query of google. if you say i want in today's world, you are often opening an app to solve that problem.
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this paradigm has shifted. what hasn't shifted is the ease-of-use of creating links to build partnerships, experiences that solve what consumers need and what they are looking for. if you do a search result on a product page or a link from retailers, or looking for hotels and making a booking, so what this $20 million will do is to invest in the team. expand internationally, and double down on the strategy and performance we are starting to see come to the platform. caroline: on a day when we see a company about to go public get snapped up by a arrival. what is your dream for button? is it to go public, is it about acquisitions? michael: it is a great question. every entrepreneur thinks about it and dreams about it. my pledge when i started button
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was i wanted to build a company i would be proud of. for me, that was building a place where we could foster the growth of our team. we were voted the number one place to work in new york, and we are grateful for that. that is because we have invested a ton and making this a location in place where people can come, grow their careers, and we think if we can do that, we will attract the best. if we attracted the best, the sky is the limit. i don't want to say i have an ambition to sell anyone. i would love if we were good enough, smart enough and lucky enough to ring the bell one-day, but that is a ways away. caroline: michael jaconi, ceo of button. thank you for your time today. former yahoo! president is on to her next cap -- app launching a social platform called roster, curated content around a specific conversation, filtering out the noise that comes on platforms like twitter or facebook. we sat down and asked her why
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she decided to launch the app. >> there is a great need to communicate about the stories we all follow together. i mean by stories is news that have an ongoing series like the presidential elections or sports teams or television entertainment. these are the things we talk about at the water cooler at work, these are the things we talked about with our families in our living rooms, and today the current social media platforms are not ideal for conversations, so we feel like the opportunity is available. caroline: why is facebook and twitter not a good platform for conversations? in a way, many feel there was a lot put out in terms of viewpoints on the social media areas. >> that is a great question. they are both terrific companies and survey terrific purpose. if you look at facebook first, the market for personal content,
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the things we do every day, the triumphs with our kids and friends, that is stratified with instagram being the whitest -- widest reached of top moments. phase book being the highlight reel from which you take your top moments, and snapchat being the in gauging conversation place for more intimate conversations. the same all happen with the professional content on twitter, whether it is news. twitter is moving to that brought reach, breaking news, not the safest and most conducive place for conversation. a lot of people feel nervous about trolls, worried that it is hard to use, but there is an opportunity for a more engaging, fun place to talk about the stories with friends that is consistent with what twitter is doing. caroline: how will raftr protect people? how will you ensure that there is not trolling?
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how will you make sure you don't have the knock on effects of make news which it is of concern to so many? >> i don't know we can ever fully protect them. it is the internet after all. we will see some of those same issues, but we have tried to build in some safeguards. for example, we have our phone number as our registration, so you can't create 30 gmail accounts under different pseudonyms and troll in the same way possible on other networks, and that was a deliberate decision. in addition, we have content curators writing for us each week and linking the best content and governing what kinds of content is linked to the episodes we produce. we have a few safeguards we think will help make it safe, help make it less susceptible to some of the problems out there today. -- cure: sure nation ation has become a big key talking points and about whether human is better than automation. will you be mixing both, or is
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it human people deciding which stories have the most authority and truth? >> we do a mix of both. first, our users vote with their feet. there are 30 million who follow on twitter and facebook the kind of stories we are offering. we looked at what people are talking about and what stories they want to talk about, and right away the human opinion is part of how we select and curate our stories. secondly, we are built around following stories, not people, and that is the key difference versus other social networks. what happens with other social networks is, you get information from your friends and those circles are getting wider and wider, and sometimes your interest don't overlap with your social graph. our is designed to just follow the stories you care about, so you are self-selecting. that is where the algorithm and technology comes in, serving only stories that are ones that you follow. caroline: that was the former yahoo! president and cofounder
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of raftr. up next, appdynamics is officially off. we will see what this means for the upcoming batch of ipos. that is next. this is bloomberg. ♪ caroline: turning back to a top
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story of the day, cisco's was there be to purchase of appdynamics before it planned to go public. the first major tech ipo down the drain what is next for the tech companies going public and will this spark a flurry of tech m&a? you were here, hot on the heels of the first tech ipo of 2017, and no more. how often does this happen?
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>> this close to listing day, almost never. it was supposed to price tonight. tonight at 5:00 eastern was supposed to be the call to decide what the market value would be. cisco did come in at a very way -- $3.7 billion, higher than they $1.7 billion market by you they were going for. this is not a common occurrence. blue coat was bought by symantec, but they were not on the road yet. they had done meetings cover roadshows, investors were excited, and i guess cisco was more excited. and willing to pull the trigger on a buyout. caroline: can this become a theme. could roadshows make it all the more hot for tech companies to buy in? >> i certainly, we mentioned in our report this year that there are a lot of companies in the ipo pipeline, 30-40 companies that we are expecting have a good chance to come out this year, but we use the language
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that they will have an exit. that does not necessarily mean an ipo. a lot of those companies in the mid range valuation group, not the big names, but the next tier down, they are willing to do a dual track and see what their options are. caroline: there is one man out there hoping this does not become a theme. we did speak to tom farley, the head president. have a listen. >> we are expecting 10 ipos in the next three weeks, including four on friday, three ipo's, and a closed-end fund. those 10 ipo's are big ipo's. caroline: this must have got bankers concerned? >> it does. the deals tom is talking about our companies outside of tech that we have been waiting to see for a while. education company, window and door maker, they are clearing
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out the pipeline because last year was so choppy and equities, and now we have this trump rally and people are taking advantage of it. it is a different story with some of these tech companies. what i'm hearing investors want is to buy into them, but there is no supply, and there is still no supply. we heard about these companies going public, but it will be interesting to see who tests the waters next. all of these smaller names, but to your point, they are also the ones that when they are willing to write the checks that make the valuations, we have the same kind of companies that might get bought out by the likes of cisco. >> it was a record year after a record year, but there was something interesting about that record last year. a lot of the big-name technology companies were not the ones doing the buying. >> nothing from facebook,
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nothing from amazon. >> all the traditional serial acquires were not buying. coroline: so the pool is becoming wider. >> yet, they have the funds to do it. they see these companies bringing disruptive technology, cloud, ai, deep learning, attractive assets disrupting every industry, so it is not just cisco, hp. it could be walmart, ford, p&g as well. caroline: how much do you think the carrot of donald trump's pledge for repatriation of cash, is that something that could make the cash load in the likes of cisco feel heavier? >> absolutely. if i think about what are the potential positives and negatives of the new administration, two negatives are potential higher regulatory review, tougher for big deals, and tougher for inbound deals.
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the other potential negative is the growing interest rate him and does that make it harder to borrow money to do deals. on the backside, cash repatriation coming in, the ipo market opening up, and many companies getting ready to do in exit of some point. many people look at the emigration as a bad thing in terms of visas. if that becomes a problem, you could be a acquiring them instead of bringing the man. -- bringing them in. caroline: thank you for joining us today. still to come, google's moonshots coming back to earth. it has been a year since announcing its new holding company structure. we look at how it's side projects are faring ahead of thursday's earnings. this is bloomberg. ♪
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caroline: google has ended its 12-year relationship with one washington's most prominent lobbying groups. the podesta group is no longer lobbying on behalf of google. the group has long-standing ties to the democratic party and hillary clinton. this change coincides with google's bid in hiring someone for conservative outreach as a republican administration takes the white house. alphabet will cap its first fiscal year under the new structure on thursday. throughout the year, we have been following the company's transformation. bloomberg technologies mark explains what changed. mark: googles moonshots coming back down to earth. alphabet reports fourth-quarter earnings, and wall street expected advertising business to report solid results from its advertising business. the focus will be on other bets. when the cfo came on in 2015 from morgan stanley, shortly thereafter you had the alphabet structure, running businesses
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more like startups that have a path to profitability. a lot of these projects are like science experiments, and now there is pressure to show revenue in the short term. google, their reporting structure was pretty lax, so these projects would get unlimited budgets and they would not have to file expense reports. that has changed. that has even changed at google itself. there has been google fiber, which ran for several years to deliver high-speed internet, now they plan to go broader and bring it to more cities. there are plans to sell their satellite business. they have shut down recent drone projects. it has pulled back on a lot of projects that -- requires hardware. it is investing money in three core areas around ai, its cloud business, and its biotech companies.
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the future of google moonshots may not be sending people to the moon, but more focused on health care. caroline: mark bergen there. be sure to tune in on thursday as we break down alphabet earnings. plus, full coverage and analysis as microsoft, paypal, intel report quarterly results. be sure to tune in on thursday that does it for this edition of "bloomberg technology." before we go, let's have a look at the markets. tune in live on twitter and check us out on @bloombergtechtv. 5:00 p.m. new york, 2:00 p.m. san francisco. industrial average above 20,000. up .8%. it is technology that is one of the best-performing sectors. s&p 500 up .8%. amongst that of all technology companies that have reported so far have beaten when it comes to earnings.
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that is it. this is "bloomberg technology". do tune in for tomorrow's report, more earnings, and more record highs. ♪
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president trump fulfills two of his campaign promises as he signs orders to build a wall on the mexican border to stem illegal immigration. made in the usa, the u.k. prime minister addressed the .epublican party she's there to put u.k. interest first. china curves continue. banksoc is set to order to

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