It is the momentum stocks. We have seen this theme in the past several weeks where we see some selloff of these momentum stocks, ones that have really been running up for a long time. But it has been in fits and starts. There will be a selloff and then will recover a little bit. There is not really a specific individual catalyst for many of them. Take a look at facebook. This is emblematic. One of these big momentum stocks that has been performing well that has now been pulling back recently. Today, it is down 4. 5 . It is also happening with the biotech which has been big momentum stocks. If you look at the nasdaq take index, it has been up big. Then we have seen these big pullbacks. Right now, it is at its biggest oneday drop since 2011. A longer stretch since we have seen that kind of a drop. I want to mention one stock that is uptodate considerably grubhub. It is surging today. Did raise about 190 2 million in its ipo. Today, folks are buying that stock, bucking the overall market
Valley . First, check of the top headlines turkeys twitter crackdown is over for a while. The court ruled the ban violated freedom of expression. The news comes after the prime ministers party won elections after a corruption investigation. 90 of media is selling its initial investment in barnes itsble and will abandon seat at barnes noble. Apple says its annual Worldwide Development conference will take place in june. Ticketing will not be firstcome first serve. Developers will have to read will have to enter a random drawing. First to the lead story of the day the debate over income inequality in San Francisco and beyond is showing no sign of letting up from protest over of affordablelack housing, inequality has become huge issue. So what is the tech industrys role in finding a solution . Cory johnson is here with me also one of our tech editors joins us from the newsroom. Know, what is going on with the twitter protests coming up on april 15 . Why are they doing this . Thatitter has
By some in the Tech Committee for donating 1000 to a proposition aimed to ban gay marriage in california. The debate over that donation over six years old has been raging on social media. More shakeups are coming to latenight tv. David letterman says he will retire as the late show host. He has been on tv for 33 years, the last 20 on cbs. The longest stint ever for a latenight tv host. Jay leno retired in february. Cable billionaire john malone is shutting the book on barnes noble investment. Liberty media selling 90 of the initial investment and will abandon the struggling bookseller. Barnes noble have suffered three years of losses with low sales of its nook tablet. Grubhub raising the expected value of the ipo to 192 million, showing excitement over a deal that doesnt deserve excitement. A reasonable question that we hope to answer. Leslie covers the ipo market. This coming out, what does it tell you about this deal . If you remember on april 1, they raised it three dollars a share
And 19. Between 17 the top end arrange a wouldve weibo at 380ue million. Semantics will higher jpmorgan chase. Activist shareholder, according to people familiar. It is a week after the Security Software fired the ceo, steve bennett. J. Lo, Jennifer Lopez outbidding her former boyfriend, puff daddy, for fuse. Buying it for 200 Million Dollars in cash and a 50 stake. Torturely offered Million Dollars. It offers English Television aimed at the spanish community. Our lead story. A wave of technology ip oh ipos. Rubhub and opower they started trade. The ceo of a grubhub joined market makers. The reason we did it was for exposure to communicate to the world it is a massive marketplace. Is 70 billion in the u. S. Alone and only 3 as place online. It is not just a consumerbased grubhub. Opower, hasrise, filed to go public. Ipos ineing a ton of technology. Now, it feels like a good time. Investors are really friendly to technology ipos. Grubhub had a 40 pop today. , surprisingly this is the co
Our roadmap this morning begins with the jobs number coming in just shy of expectations for march, january and february revised higher. Notably all of the march gains came from the private sector. The ipo parade continues today with no less than four offerings the most notable Online Food Delivery service grubhub, the ceos going to join us after it opens for trading. And exxon the Worlds Largest publicly traded oil company has agreed to disclose more information about the risks of fracking. Were going to tell you why. But first up, the numbers for the march jobs report nonfarm payrolls up 192,000 forecast called for a gain of about 200,000. January and february pay ros revised higher by a combined 37,000. Unemployment rate held steady at 6. 7. There was an increase in job seekers. Average Hourly Earnings fell by a cent. And then people looking at things, guys, like hours worked. Yes. Up 0. 2 hours which given all the talk for pentup demand for labor post winter doesnt seem like much of