refrigerator. >> when the average american thought computer they thought ibm. it made mainframe computers that ran pretty much everything. >> ibm was one of the most powerful corporations in america and in technology, it was the most powerful company that had ever existed in technology. >> because of this activity in personal computers, it started to make ibm look like it was somewhere behind the eight ball. >> they look at the apple ii and say we can make one of those. we build the computers that put america on the moon. we will get in that business, squash these guys, no problem. >> ibm, international business machines, has entered the small computer market for the first time. >> the idea of the small computer has become so big that the giant of computer companies, ibm, is busy marketing its new small computer. >> it will, they say, give credibility to home computers. they will no longer be just another new gadget. >> ibm has set an objective to build the office of the future. >> before ibm came in, companies would not think about buying personal computers. but suddenly when i

ibm was the speaker at this year's annual churchill club dinner in san francisco. of the churchill club is a silicon valley forum and this begins with churchill club ceo karen tucker.adies annt >> ladies and gentlemen, please join me in welcoming ceo of the churchill club, karen tucker. [applause]. >> hello. thank you. thank you very very much. at my name is karen tucker and i am ceo at the churchill club. welcome to the 2016 annual dinner as we proudly presentesin virginia rometty, senior managing parker at norwest venture partners. a ran they will exchange is tonight on a range of topics from cognitive computing to business transformation to other things that they see as very important for future innovation and economic growth. after their discussion they will have a view moments to take questions from the audience. we wish to thank ibm for their partnership in making this event possible. lets just give them a hand. [applause]. >> if you are tweeting, please use the #churchill club, so everyone can follow along. there are other twitter codes in your bulletin, so our conversation

digital. >>> ibm stock hasn't done anything. as we approach dow 20,000 that's what happened behind the scenes in training throughout the country. mad scramble to get something to buy a big capitalization stock especially the one with the dow. i know this because i lived it. this environment is reminding me of the great bull market of your. and i can clearly call my youth. one would study the tape, look for stocks to buy that were behind both the peers in the market, betting that they too could start climbing. someone once in motion tends to stay in motion. i want to be clear, when i was running my hedge fund we didn't buy stocks for the reason they didn't do any yet. we did search and find out it could be a catalyst and a catalyst driven firm and certain analyst meetings are better than others or the market would fall in stocks and we like to think that there could be good news coming, sometimes simply in the form of upgrades or earnings. analysts take queue from t analys analysts take their cue from the stocks. i know the 20,000 dow shouldn't matter. it is stip top of mine and any

president of ibm, and promod haque. senior managing partner at northwest venture partners. they'll exchange views on a range of topics from cognitive computing to business transformation to other things that they see as very important for future innovation and economic growth. after their discussion, we will have a few moments to take questions from the audience. we wish to thank ibm for their partnership making this possible. let's give them a hand. [applause] karen tucker: if you are tweeting, please use the #churchillclub so that everyone can follow along, and there are other twitter codes in the ulletin. so she is a major force in the venture capital industry, having invested in over 70 companies, over $40 billion ver that time. early in his career after earning a phd and mba, he went to work for a large company called bmi medical, which pioneered cat scanners, ct scan. and he put in time at a startup, recruiting as a coo and ceo. that gave him a very special insight into what companies and start-- having locked into hose issues himself. and though they attended at different times, they

. all of this coming as ibm workers protesting cooperation with trump saying, they're quote, disappointeby the ceo's open letter to the president-elect, working with him. we have jessica tarlof, and from the weekly standard, a fox news contributor. >> hi, lauren. >> jessica, don't the ceo's like apple's know where their bread is butter? >> i think so they do. there was more to the letter than the fact this this he don't like donald trump. and they're looking at civil liberties, tasked in participating and helping to develop a muslim registry. that's a concern for all americans, this was not necessarily donald trump's most popular proposal. we remember people like paul ryan saying this is the very definition of racism. that's where they stand on this and he'd like more on ibm, and the letter is more expansive than we don't want donald trump. lauren: fred, i don't understand what's so negative and bad about an american company, ibm, and their ceo working to create thousands, as she called it, new collar american jobs? >> there's nothing wrong with that. i mean, look, this so-c

you had the famous ibm contract, you wanted the contract to produce the operating system. why did they let you own it and they had to license it? was that a mistake on their part? mr. gates: this is before graphics interface, when you just had text on the screen, so the software ms-dos was the key thing. it got to be more of a high-end machine including this ms-dos. they do not see how big this would be and their legal department did not want to take responsibility for the code. they had a limited license. we understood that this was a seminal machine and other people would do similar machines so that was advantageous to us. they did not see the value in the software. they thought the hardware was the key and the software was the necessary thing. they did not realize the vision we had, which was the software over time would be way more important than hardware. they would have negotiated a different deal. david: you have a fair amount of money for anyone your age at that time. did you say you will splurge and buy a nice car, an airplane, a boat or did you not care about that? mr. g

meeting at trump also tomorrow, ibm's ceo be there. ibm has said they're working on investing $1 billion and grading more jobs. -- creating more jobs. is this part of winning over the new administration? : maybe, and maybe it will work, but when you look at that money be spent in acquisitions, the comet has spent three $6 billion over the last four years. the notion that $1 billion is a commitment when you just spent 26 -- that was 15 weeks of spending last year alone. $1 billion is a drop in the bucket for ibm expenditures. what they need is to make more profits. let me show you really quickly, if i look of the cash flow statement for ibm, this is their annual number. four years of capital expenditures, that is five will stay with five years to keep it simple. that is capital expenditures alone and you can see the company is spending nearly $3.6 billion. to that the money they spent on acquisitions, you can see the company is spending billions and billions of dollars every 15 weeks or so. a commitment to $1 billion is very little commitment for ibm. emily: that is something we w

factor in the dividend payment as well. ibm a laggard, but big blue is now up 24% this year if you factor in dividend payments. walmart and merck kind of round out some of the biggest gainers in the dogs. what about next year? as it stands right now, you take a look at some of these, verizon, pfizer, chevron, ibm, exxon, coca-cola, caterpillar, merck. these are the ten highest yielding stocks if the dogs were named right now before the end of the year. check out these, according to analysts these are the ones that have the biggest percentage to gain. pfizer, merck, coke, caterpillar and ibm because they're big games now, perhaps laggard. as we talk about the dogs, keep in mind those stocks and the analyst outlooks for next year. i'm dominic chu. >>> feeling richer? maybe you should be. household wealth in the united states has hit a record. according to the federal reserve, a buildup of real estate and stocks helped drive american wealth to more than $90 trillion in the third quarter. and the number is likely even higher now, since the market has rallied over the past month. >>> th

leading. we have to keep doing better. david: when you had the famous ibm contract, you won the contract to produce their operating system. why did they let you own it and they had to license it? was that a mistake on their part? it was before graphics interface when you just had text on the screen. be more of a high-end machine. they didn't see how big this machine would be and their legal department didn't want to take responsibility for the first code. it had a limited license. that it was aood machine and other people would do similar machines so that was advantageous to us. they thought that the hardware was the key and software was just the necessary thing. so they didn't realize the position we had, which is where software, over time, it would be way more important. they would have negotiated probably a different deal. david: you had a fair amount of money for anybody your age. did you splurge and buy a nice car or an airplane or a boat? bought one thing that was a tiny bit of a splurge. my first car that i owned was a porsche 911. it was used but it was an incredible car

c-span and c-span.org and listen live on the free c-span radio app. >>> ibm ceo sat down for a conversation about the future of artificial intelligence and cognitive computing. a silicon valley business and technology forum. . this is about an hour. >> ladies and gentlemen, please join me in welcoming ceo of the churchill club karen tucker. >> hello. thank you, thank you very much. my name is karen tucker and i u am ceo at the churchill club. welcome to the 2016 annual dinner. as we proudly present the chairman, president and ceo of ibm. she will exchange views on a range of topics from cognitive computing to business transformation to other things that they see as very important for future innovation and economic growth. after their discussion, they will have a few moments to take questions from the audience. we wish to thank ibm for their partnership in making this event possible. let's just give them a hand. if you're tweeting please use #churchhillclub so everybody can follow along. our conversation leader is a major force in the venture capital industry having invested in

cheney and leon panetta on the future of the pentagon and the trump administration. then, ibm ceo on a future of artificial intelligence. later, how personal data is collected and used by marketers. taking a look at prime time programming, at 8:00 eastern, a look at the career of mike pence. .hen a profile of chuck schumer interviewsastern, with members of the 115th congress. here's a preview of the program on mike pence. mr. pence: my dad built -- in a small town of southern indiana. i started in politics as a democrat. when i heard the voice of the 40 is in a you is its, it all changed for me. i live the dream of becoming a congressman from a small town and i serve as governor of the great state of indiana. [applause] pence: i served 12 years in congress. if i only had 12 years left to live, i would want to live as a member of congress. that was the longest 12 years of my life. [laughter] >> let me just say the challenge has really just begun. the american public has rejected the policies of george ocean they are waiting to see what we can do. we will show them we will never lose sig

to sam palmisano the former ceo of ibm and the national security advisor to president obama. >> he has in each of his presentations the last four years to the congression on the major threats facing the united states ranked cybersecurity number one and it's just not the case the country has treated it as the number one threat. we have far more resources and emphasis and share and attention to counterterrorism which is it appropriate and a homeland security but in terms of a whole range of dimensions underfocussed on the cybersecurity and there were a number of things we could do to enhance cybersecurity and how the commission came about. >> rose: and a now fill by mark wahlberg and we were joined about the conversation about the "patriots day" film. >> if every day you turn on the news or open the paper there's another attack somewhere and we wanted to promote the message love will always win and wanted to come together and unite and how my town reacted in the face of terror it made me proud. >> rose: and conclude with andy cohen. >> i think it's so egotistical to say my life is so

allison and steve. >> as big tech ceos get said to meet with president-elect good news from ibm. >> doritos pulling out of super bowl and one other big company will not buy add time this year. >> i love those commercials. >> especially the ones people we'll head to the fox news network in new york next. stronger is rebuilding a newborn's heart... and restoring a father's faith. stronger is being a typical kid... despite a rare disorder. stronger is seeking answers and not giving up until you find them. because we don't just want kids to grow up. we want them to grow up stronger. with your support, we can find more answers faster. make a gift today at childrensnational.org/givenow this one is from channel islands national park. coronado. saguaro. you'll see there's one that's an eagle. my number one goal is getting more funds out to parks because some animals and plants are only found in one place in the world, and that's in some nationa

with the ibm ceo and ibm ceo ensure an op-ed in "usa today" on the need to better train workers said they can fill the growing number of new collar jobs that ibm is creating. maybe i'm alone, we have thousands of open positions at any given moment and we intend to hire a 25,000 professionals in the next four years in the 90s a space 6000 of those in 2017. it will be a who's who of tech executives at trump tower. ceo jack dorsey will not be there despite donald trump's frequent use of the social media site. lauren: a strong gathers new media and a fight with old media over advertising dollars. more from blake irving. >> when you a news article, google and facebook profit from advertising. one group funds for newspapers to get a cut of the election. the alliance represents two dozen newspapers lobbying the trump administration to change copyright of course meant to force search aggregators to pay a period newspaper stories make up roughly two thirds of their content. the effort is backed by news corp. which shares the same owner. the electronic frontier foundation which defends th

or 1999. however they are driving stuff today. no laggards or losers. but ibm, big blue only up 31% since that 2009 mark. exxonmobil up 26%. lot of oil price volatility, energy stock volatility contributing to that cisco systems, 26% of the upside and goldman sachs up 25%. if you take a look at the overall picture since, guys, some interesting moves with how these guys have done in that timeframe. now you go back, at&t, bank of america, alcoa, hp, kraft were all part of the dow. no longer there. let's take a look at these names and figure out if the new dow is indicative of the new economy and industrial environment as opposed to the old guys. back to you. >> dominic chu at hq. let's get over to rick and and check on the santelli exchange. rick? >> thank you, carl. 20,000 in front of what is or could be an implementation issue of the reasons many are purchasing stocks, pushing us to these levels. retro activity, policy changes, implementations of things like tax policy. we don't know exactly how tough they will be to push through. but we do know one thing. they're going to be less

year for different reasons. one of our picks, probably my personal pick ibm. shares of big blue ending the year even bigger. stock up 21% so far this year. the question is, is ibm a good buy for your money? joe friese joins us now. joe, listen, it has been a great year for the folks at ibm, kind of a surprise year. i noticed that the core business does continue to decline, but decline at a slower rate, cloud is on its way up. what is your view going forward on ibm? >> yes, so ultimately what we think ibm needs to do is produce sustainable growth. and we don't have that growth rate or that inflexion point that you pointed out, really happening until 2017. once that sustainable growth is established, assuming it is, then the multiples should come with it. what you accurately pointed out is that the strategic imperatives, about 40% of revenue, they're growing 16%. the real problem is the other 16% of revenue declining 9%. so if eerither grow faster or t core business declines at a lower rate, then you might see that inflexion point sooner. i think the move in the stock this yore was basic

passed the tax act and cut taxes. that was the same month when ibm came out with the personal computer powered by intel with software by microsoft. companies people hadn't heard of. might the same kind of extraordinary invention and creation of new industries happen? >> it certainly could. and i think back to that ibm introduction. at my firm on wall street we had the number one ibm analyst who projected boldly maybe at some point in the distant future half of american households would have one pc. as we know that was completely off the mark. what we are looking at is optimism that drives consumer spending. but most important in this era it will drive business investment, and that has bent lagging indicator in this economy. david: we only have 15 seconds, i'm sorry to do this, but do you think it's possible we might have the introduction of a whole new industry as a result of all the new incentives? >> of course it is. this is america. we are going into a pro-business environment. pick the fruit but take some profits out of small cap, stay invested and buy the dip when you see

noting all three major indices record highs today. among the biggest winners, nike, ibm, apple, exxon and microsoft. tyler? >> melissa, i'm tyler mathisen. thank you for joining us. here is what is happening at this hour. apple's new air pod earbuds are now available on online ahead of the holiday rush. they hit the stores next week. nfib says it is small business sentiment index jumps to the second highest on record. and 85.5% of all u.s. airline flights were on time in the month of october. who had the best performance? hawaiian airlines, the most on time arrival. the worst, virgin america. michelle? >> welcome to "power lunch." i am michelle caruso-cabrera. we have a busy two hours ahead. we kick it off with your big market story today. the dow just a stone's throw away from hitting 20,000. bob pisani live at the nyse as we close in on the big 20 k. bob, first you, the preview. >> yes, the important thing is what pushed the dow and all the other major indices to historic highs in the most recent leg of the rally has been a notable rotation. look at the sectors in the s&p 500 in nov

-- liz: okay, we have breaking news. ibm's chairman and ceo publishing an op-ed in "usa today" pledging to create 25,000 new jobs in the united states over four years. saying 6,000 jobs will be created in 2017. saying also that some of these jobs will not require a degree. now, ibm's stock up slightly in after hours trading, hitting a new all-time high in today's session. you know, ford, this comes on the heels of donald trump calling out boeing, lockheed martin, carrier. but trump is doing sort of this naming and shaming via tweeting. i mean, is it don't fear the tweeter? [laughter] you know, should -- is this a good way to do policy? i'm not saying trump tweeted anything about ibm, but are companies worried about being named and shamed via twitter? >> well, i think that donald trump as president-elect is certainly rewriting the rules here, and i think what he's trying to do overall is to put -- look, he is taking a populist, unconventional approach to this. i don't think long term it's a good idea to shame company out loud because it can mess with the markets and drive down stock pric

this, ibm announcing new jobs in america and the ceo will attend today's trump tower tech meeting. e-mack, these new jobs from ibm, are they-- first of all, what are they? and number two, are they designed to placate mr. trump. liz: well, on the advisory panel, placate? i'm not saying that it's perceived as that. 25,000 jobs over the next four years, what's key and interesting here, she's saying she wants locational jobs not just the ba and cultural impact of soap operas, she wants technical degrees and she wants a third of ibm workers don't have those kind, they don't have a college degree or any degree and so that's what she's focusing on and wow, this is about getting the manufacturing jobs back in this country and that's what she's talking about a vocational, it's interesting. stuart: a very good announcement to make on the eve of your trip to trump tower to meet with mr. trump. you're looking pretty good. good point. and i call it a historic tech meeting. the tech guys want more work visas so it's easy for them to hire skilled foreigners. trump wants products over here and bi

conducive to producing people who could work at an ibm. it's all one off. this is something that may be too large -- >> still come back to the larger question with the proliferation of artificial intelligence. in its earliest stages and automation and robotics. i know there are other people on the other side say, don't worry, the jobs are going to be created. but it's going to take away so many jobs. >> there's checker jobs. i'm thinking about what amazon is doing and how great that is when i can go into a store and i don't have to do the self-checkout. the person in front of me can never figure it out. >> you need the person to help you or -- >> that person scans. it's for a thing of rice cakes. it holds up the whole store. this new world of just walking through with your iphone and being able -- >> you are conditioning consumers. human interaction, why would you want that? >> they hate interaction. i never minded human interaction. >> i know. i know. a lot of reporters these days don't actually talk to anybody. i don't believe that's an effective way to report. apparently, it works fo

, google. ibm until yesterday. microsoft. the president-elect vowing to help those companies do well, to help them innovate. trump has already proven his administration is focused on jobs and he wants the technology industry to do their part as well in job creation. they employ about 600,000 people. but they employ far fewer employees than less valuable companies like walmart. but there are already signs the trump magic is beginning to work even 36 days before taking office. ibm, before today's meeting, announced plans to invest a billion dollars and hire 25,000 employees the next four years. he has pledged corporate tax cuts and repatriation which would be a boost to, for example, apple that currently holds more than $200 billion overseas. it's time for trump's detractors in technology to work with him, to create jobs to the boost our economy. because he's also making it very clear he will be be their biggest booster, or he will be the shareholder. either way, trump's the right man for the job. our quotation of the evening from former apple ceo john skully. he said this. the future

-forward. these were the first semi conductors. this is your keyboard. this was the first ibm computer. this is facebook headquarters. this is silicon valley. well, that didn't happen. but in modern russia, it's easy to get confused. with an extra helping of spy craft, technology here developed a world apart from silicon valley, and that did not change when the soviet union collapsed. [cheering] ashlee: 25 years later, russia has copied large parts of the web the rest of us know and love. they built a russian internet. and with new laws cooked up by the kremlin and rubberstamped in moscow, more and more it is a sovereign internet. like anything sovereign, it needs walls to protect it, and virtual walls are going up today. to find out exactly how the russian web works, there was only one thing to do. i had to upload myself. ♪ ashlee: now that i am inside, i will meet a tech oligarch and travel to siberia to dive into a surprising and very remote team, and chase the ever allude is -- ever elusive russian hacker. let's enter this parallel universe together on this episode of "h

that vast american landscape. >> host: ibm and immigrant myself from the dominican republic. but i grew up in new york city in the late '80s. in now they remain with pockets so i want to ask you if you think geography plays a role of of identify errors . leaving in n places like new york. >> right team this book completely because there is the assumption that it could be gang-related. and on one level and then the victim. but actually if one doesn't do the one doesn't the dissenting gang-related. but with that public opinion but he was wearing red walking down the road, is that gang-related? to the extent is that it's gang-related? and as a stray bullet in this complicated actually. and not just a way to think about it but if you are in the soviet union. that's they dominate the block where you live in and everybody has some type of relationship to beginning. it could be complete the middle so how do we say and then you have to live there. so it is not like an affiliation. and then people pay their dues. so when they see the term gang-related now i say what is the relationship betw

is pledging ibm will train and hire 20,000 workers in the next four years. ibm's u.s. work force has actually declined in the past five years. and apple's new stand alone support app is now available. you can find documents, schedule appointments, e-mail or chat. the app provide a streamlined way for people to access the help that they need. back over to you. >> there you go. another option for you. >> thank you. she talked about elon musk there. one of his companies grounded fornow. spacex is pushing back plans. that launch which was originally scheduled for next april has now been delayed until 2018. spacex is making sure it doesn't have a repeat of what you see right here. it happen at cape canaveral back in september. an unmanned rocket exploded in testing. >>> edward snoend took his message internationally this week thanks to san francisco's periscope. yesterday jack dorsey spoke to snowden about cyber security, government surveillance, and recent election. snowden is still in hiding and says he believes he did nothing wrong by explosion classified documents. he warned anyone on

semiconductors. this is your keyboard. this was the first ibm computer. headquarters.ok this is silicon valley. well, that didn't happen. but in modern russia, it's easy to get confused. with an extra helping of spy -- spycraft, technology here developed a world apart from silicon valley, and that did not change when the soviet union collapsed. 25 years later, russia has copied large parts of the web the rest of us know and love. they built the russian internet. and with the new laws cooked up by the kremlin and rubberstamped in moscow, more and more, it's a sovereign internet. like anything sovereign, it needs walls to protect it. and virtual walls are going up today. to find out exactly how the russian web works, there's only one thing to do -- i had to upload myself. now that i'm inside, i will meet a tech oligarch, travel to into a, and dive surprising and very remote startup scene and chase the ever elusive russian hacker. >> you could create the technology which helps to predict the crime. >> silicon valley may be home to some of the biggest tech giants in the world, but i

new york, ibm researchers have developed watson, an intelligent software system at the forefront of the revolution. >> it can understand somebody's personality type, look at e-mail, for example, and tell you what is the tone of the e-mail, what kind of messages are coming through. it can look at a big encyclopedia, extract the concepts and the relationships among those concepts. narrator: watson operates in the world of big data, extracting knowledge from the billions of facts and figures floating through cyberspace. >> i look at the world from the point of view of the data that there is, and the amount of knowledge that is embedded or inside the data that we are not able to extract today. therefore, we are not able to make the right decisions. for the industrial revolution, to me, is the ability to have a much better understanding of the world through all of the data, and therefore, making better decisions for it. narrator: ibm is currently running a research project in which watson augments the intelligence of medical professionals, helping doctors treat the most dangerous disease

job equal less democrat votes this is a very good thing for america. liz: talk about jobs, ibm ceo, now saying that ibm will create 25,000 jobs over next 4 years. giving trump some help. here is thing, ibm already promised or said last march that would create the jobs they said -- he made that vow after trump, you know he is warning businesses and muscling businesses, he stopped carrier from going to mexico, listen to that. >> companies are not going to leave the united states any more, without consequence. we're going to do great things for businesses, no reason for them to leave any more, your taxes will be at very low end. and your unnecessary regulations are going to begun. liz: there is some criticism from you know pun cut -- pundits, so-called analysts. naming and shaming them on twitter, what do you say? >> patriotism, loyalty, love of country, my god, what a beautiful concept to bring back to america. i am loving it. you know these companies have made a lot of money off of the backs of blue collar middle class workers, i like the idea of donald trump working the tax in the

in a big way. oil and gas, chevron up 32% if you factor in the dividend payments. ibm, a laggard for a few year in the dow, up 24%, walmart and merck, top five in terms of total return this year. if you look at the projected dogs of the dow, you have verizon, pfizer, chevron, cisco, ibm, exxon, coca-cola, caterpillar, procter & gamble and merck. we will see what happens at the end of the year. if you look at the projections for next year, analysts on average have some interesting targets. they're projecting if they're correct pfizer as the biggest gainer among that dow jones industrial average dogs set, up 23%. merck by 13%, coca-cola by 12% and after big runs this year maybe caterpillar and ibm giving back some of the gains. analysts have not upped their price targets. as we talk about the dogs of the dow, those stocks would be the ones to watch if those analysts are correct. dominic chu at the wall with your dogs of the dow. >>> dogs of the dow? cats of "street signs"? >> yeah. >> china's grand chip investment fund dropped its take over bit for the german chipmaker, aixtron. the 67

. i am not sure where this is going. [laughter] promod haque: ginny, you have been involved at ibm, you have seen many, many phases of technologies and innovation that have happened over the years, how companies and societies get transformed and businesses have to transform. over the years, ibm has done a great job. talk a little bit about looking to the future, transformation of businesses, whether it is, you know, customers or humans transforming, what ibm is doing. virginia rometty: you have learned a lot, too. promod haque: i have. virginia rometty: i want him to share -- i will answer, but i want him to share -- i found a fascinating list of things he said about which kind of companies make it and don't make it. i don't know if you remember, but you will have time while i talk. so back to what, lessons learned or observations, maybe? because i guess, one, sometimes people say to me, what would you advise a young company or -- and i sat there and thought, i think we would probably all say it may be some of the same -- same things i would say about my self so it does not matter.

. >> let's start with earnings because ibm in particular was responsible for eight of your six figure deals. i'd ask if you sent them a fruit basket for that, but more seriously, how risky is it for you to rely so heavily on a single vendor or single partner? >> we have many partners that help expand our distribution and facilitate the growth of box in the new markets. ibm is one of those. we did eight deals in our sort of large-deal segment of which we did 38 deals over $100,000, so eight were through the ibm partnership. i know that we have 69,000 customers globally now at this point. we brought on thousands of more customers in the quarter. so we're pretty diversified in terms of how we get to new customers but ibm has absolutely been helpful in reaching new markets and regulated industries, governments and especially a lot of our international segments that we're growing in. but it was a phenomenal quarter. we did $102.8 million in top-line revenue, our first $100 million quarter and grew 31ers% year over year. we're happy about the quarterly results. >> you also raised guidance going f

, former microsoft ceo on what they a. they know the head of ibm is telegraphing big over the next few years. and bemoaned the fact that white-collar blue-collar, and beneficial, is that what they see on this event? >> i think it will. he will continue on that dimension today he meets with these folks, >> the biggest tech names, they are not the type of folks, how do you think it is going to go. >> hard to tell. >> they get a lot more practical once they realize, change can be driven to washington dc or influence the change, one of the things about jobs in the tech sector, it is not a labor-intensive kind of industry. ibm hires hordes of people, most of these other companies are not labor intensive. i don't know that that is the best theme for him to work with this through. neil: going back to microsoft, that shows american ingenuity in the tech sector. since donald trump's election, and a group of stocks and major ones. >> the notion of immigration is important, and donald trump is against immigration. the notion of the tax code and bringing dollars back and that has been in line, the

jobs for american workers. >> the ibm boss is on board promising to hire more people on the eve of a meeting at trump tower. >> joining us is abby huntsman, she's named the official f"fox and friends" weekend -- >> it's exciting to be officially part of this family. i love you so much. >> i want to get to this story before we celebrate. as you mentioned, donald trump is not officially in office. but he's fighting for the working class. keeping his promises to create jobs in america's rust belt. ibm creating new collar jobs nationwide over the next four years. the company will invest $1 billion in training and development. this pledge coming one day before a meeting of the minds at trump tower between the president-elect and silicon valley's finest. at a victory rally yesterday in wisconsin mr. trump didn't ee lab ate on the meeting just focusing on what americans want most. job creation. >> we're going to be not only great, we'll be greater than ever before. you watch. you watch. and tomorrow coming up to the office, the true giants of silicon valley. we're going to talk about how to

population. so when the ceo of one of its largest private hospital networks approached ibm's watson team, they came up with a pilot project to try to help nurses working with the most critically ill patients. this is the intensive care unit at mount elizabeth novena hospital. it's where four beds are conducted to ibm's artificially intelligent nursing system. collecting all the vital signs from the patients in the beds, it gives the nurses a more complete picture of who needs the most care. in one of the first trials of its kind in the world, the ai is constantly monitoring output and making connections on a vast range of data, including a commonly used scale. higher scores correspond to a higher incidence of death, and it is particularly important in the first 2a hours after admission. this patient has four alarms, so if you don't see anything flashing here, it means it has been acknowledged already. one of the patients in the ward is at the high end of the alert, and nurses can quickly access the information in real—time and look at patterns in their vital signs to see if they are at

now. goldman sachs and apple, they're about 7 points. ibm and merck, four points more. there is eight for the two of them. 16 and 8 is 24. that's why the dow is up 24 points. in the meantime, most of the rest of the dow is on the flat side. there is a few holding it back. so boeing, down there, fractionally, that's about five points on the dow in the other direction. negatively. travelers maybe two. nike, procter & gamble, flat line. only four, maybe five stocks i would sabo iy boeing -- it is important that the final phase of the 20,000 is the trump rally and largely financials. talked about goldman sachs, 25% of the dow move since the election is goldman. jpmorgan adds another few points as well. united health had a good move up. there is a third financial stock, travelers. at the same time, the low volatility names, big stars earlier in the year have all been laggards here. coach, johnson & johnson and procter & gamble. recently, they have come to the floor of this rotation is what is causing the dow to move sideways. back to you. >> all right, thank you, bob. we got a news a

one, we think ibm has turned in a meaningful way. 3% yield. the stock was cut in half over the last two years. higher low, higher low. getting up through 167 today. we think 185 is the right price. again, 28 analysts cover the stock. eight buys. still out of consensus. getting better. and then we have one here that we -- that we want to sell. and it's constellation brands. stz. up 900% since the lows in 2011. it traded ten times earnings down here. it trades 25 times earnings up here. has not participated in this rally. 200-day moving average now downward sloping. reduced exposure. we think this is a bear market on the way. >> should we invite chris over? >> yeah. >> i was leaning you were going to say no, but we'll bring him over. i'm just kidding, chris. by the way, obviously stz is not a dow stock, but chris felt strongly about having to sell it. i think that's an interesting one. the fundamentals may match up with the sell, right, in terms of being exposed. >> the stock is expensive, expensive, expensive. it's got a lot of mexico, trade issues. the breakout for the stock was the

, social updates. we call it dark data. 80% is invisible to most businesses. the ibm cloud has tools that can help see dark data and put it to work. hello, my name is watson. working with watson in the ibm cloud, we can help an energy company predict pipeline corrosion. and help a start-up to use social data to predict market trends. now businesses can get more out of their data. that's what the ibm cloud is built for. ( ♪ ) ♪ you gotta to be cool, calm, collected ♪ ♪ look your fear in the eye ♪ you gotta be shaking off the pressure ♪ ♪ gotta be taking your time ♪ had my ups, downs, run-arounds ♪ ♪ my dark and despair ♪ but the best stuff came ♪ when all the sweat wasn't there ♪ ♪ you gotta say ♪ hey-y ♪ ho-o ♪ hey-y ♪ ho-o he wears his army hat, he gets awalks aroundliments. with his army shirt looking all nice. and then people just say, "thank you for serving our country" and i'm like, that's my dad. male vo: no one deserves a warmer welcome home. that's why we're hiring 10,000 members of the military community by