to cross-talk facebook's i.p.o. i'm joined by jay ritter in gainesville he's a professor of finance at the university of florida and in toronto we cross to peter leeds he's a financial analyst and publisher of the peter leeds newsletter or a gentleman cross-talk rules in effect that means you can jump in anytime you want and i really very much encourage it if i could go to peter leeds in toronto on the face of it is this going to be a good party good i.p.o. will be successful and is it a good long term investment this for me on the show peter i think first the price is going to go up i think to be successful i.p.o. on first glance but then you're going to have to look at the valuation ratios you know it's going to add one hundred times earnings twenty five times revenues that's way too high we think a lot of people are going to jump into it just because it is facebook and we think it's going to either price for and at the end of the day this start over time will start coming back down jay what do you think about tha

facebook. i never have i never enjoyed dressed your guests last point in. it in the very you know you could be on facebook it is tracking what you like and what you do at work somebody walks by and sees you on facebook on your monitor and on the site is a whole bunch of ads that are going to be related to what you like you might not want that person to know that you are interested in overseas vacations or whatever it may be and so there's a bit of a privacy breach there i think because it's going to put ads that are appropriate to what you're looking at on your facebook page for people to walk by and see ok gentlemen we're going to go to a short break and after that short break we'll continue our discussion on facebook state party. and. see. if she. leaves. and you can see the sun it's. slowly. coming to cross talk i'm going to mind you we're talking about facebook's i.p.o. slim. and you can see the sole. and now we're joined by its very in philadelphia he's founder of market tamer dot com if i

to cross-talk facebook's i.p.o. i'm joined by jay ritter in gainesville he's a professor of finance at the university of florida and in toronto we cross to peter leeds he's a financial analyst and publisher of the peter leeds newsletter or a gentleman cross-talk rules in effect that means you can jump in anytime you want and i really very much encourage it if i could go to peter leeds in toronto on the face of it is this going to be a good party good i.p.o. will be successful and is that a good long term investment. this for me on the show peter i think first the price is going to go up i think to be a successful i.p.o. on first glance but then you're going to have to look at the valuation ratios you know it's going to one hundred times earnings twenty five times revenues that's way too high we think a lot of people are going to jump into it just because it is facebook and we think it's going to either price further and at the end of the day this over time will start coming back down jay what do you think about that

to cross-talk facebook's i.p.o. i'm joined by jay ritter in gainesville he's a professor of finance at the university of florida and in toronto we cross to peter leeds he's a financial analyst and publisher of the peter leeds newsletter or a gentleman cross-talk rules in effect that means you can jump in anytime you want and i really very much encourage it if i could go to peter leeds in toronto on the face of it is this going to be a good party good i.p.o. will be successful and is it a good long term investment. this for me on the show peter i think first the price is going to go up i think to be successful i.p.o. on first glance but then you're going to have to look at the valuation ratios you know it's going to one hundred times earnings twenty five times revenues that's way too high we think a lot of people are going to jump into it just because it is facebook and we think it's going to either price further and at the end of the day this over time will start coming back down jay what do you think about that i m

so that is compared to facebook in terms of being the facebook of china. also renren, that's another we mentioned before. having run up into the facebook filing. that stock is higher in the after-hours session by more than 3%. all right. let's move on here. interpublic group has what a lot of others want right now. that is a slice of facebook. it sold half of its holdings ahead of the filing. michael roth is with us now. also has another event coming up. that would be the super bowl. pete, turn off your phone. good to see you. you made a $5 million investment back in 2006. you sold half of it not that long ago. august of 2011 for $133 million. that's a fantastic return. but at that time you saw what facebook -- you probably had a good glimpse as to what facebook was going to be. what it was going to do in terms of going public. why did you choose to sell at that time? >> we're not a mutual fund. when we made our investment in facebook, it was for strategic reasons. we wanted to learn something about facebook. there's this new entity out there. how can we h

to cross-talk facebook's i.p.o. i'm joined by jay ritter in gainesville he's a professor of finance at the university of florida and in toronto we cross to peter leeds he's a financial analyst and publisher of the peter leeds newsletter or a gentleman cross-talk rules in effect that means you can jump in anytime you want and i really very much encourage it if i could go to peter leeds in toronto on the face of it is this going to be a good pipe good i.p.o. will be successful and is it a good long term investment this for me on the show peter i think first the price is going to go up i think to be successful i.p.o. on first glance but then you're going to have to look at the valuation ratios you know it's going to add one hundred times earnings twenty five times revenues that's way too high we think a lot of people are going to jump into it just because it is facebook everything is going to go the price further and at the end of the day this stock over time will start coming back down jay what do you think about that

we spend eight hours a month on facebook. used by a lot of people for a long time, but tv's really the answer. street poll was this, would you buy shares of facebook? go to facebook.com/cnbc to vote yes or no. you can like our facebook page while you're there. if you don't have facebook -- >> well. >> i had another website but i can't say it and i'm not losing the bet. >> the rumor has the mom and pops, the ones that get left out apparently as a mark of good will a thank you towards the people that made facebook a success. you're shaking your head. >> i want to say one thing. i know we're tight on time. brian, that was actually an exceptionally great analysis of some of the concerns out there. i will say that there are a lot of people out there wedbush's private share group just had a conference call on this. they're looking at it telling people they're looking at the opportunity here. >> we'll have more on facebook in just a second. in the meantime pol pore international on the rebound today. news one of its customers announ

facebook is becoming a remarkable -- it -- people spend a remarkable amount of time on facebook. that will only grow as more users sign up. >> what will users do if the facebook they have grown to know and love does not look like what they want to use any more? where else would they go? do you think facebook is too smart? >> their our competitors in the space. google is making a play. right now, there is nobody showing evidence of pulling away. every time facebook makes a move that alienate some of its users, they pull back a little bit. facebook has the remarkable hold on the public. >> describe what facebook will look like if this is a successful launch. >> i do not think users will see anything different right away. over time, users will continue to see more emphasis on facebook as the business. i do not think people like my mom, who uses facebook every day, realize it is a business. it is not just for us to play on an right to our friends on. over time, it will make people see in more advertising encroach on the website. >> we will be watching the public offering. great to ha

to cross-talk facebook's i.p.o. i'm joined by jay ritter in gainesville he's a professor of finance at the university of florida and in toronto we cross to peter leeds he's a financial analyst and publisher of the peter leeds newsletter or a gentleman cross-talk rules in effect that means you can jump in anytime you want and i really very much encourage it if i could go to peter leeds in toronto on the face of it is this going to be a good party good i.p.o. will be successful and it's a good long term investment there's for me on the show peter i think first the price is going to go up i think to be successful i.p.o. on first glance but then you're going to have to look at the valuation ratios you know it's going to one hundred times earnings twenty five times revenues that's way too high we think a lot of people are going to jump into it just because it is facebook and we think it's going to go the price further and at the end of the day this start over time will start coming back down jay what do you think about t

he says the facebook growth story is still in its early days. >> what's exciting about facebook is they haven't really pushed the gas on driving revenue. they're doing pretty traditional ads right now. they know they can try new things. and they can really try to push it harder. and they're not yet. >> reporter: even so, skeptics say facebook's stock is just not worth the risk. >> there's going to be a lot of advertisers that are already there. and more advertisers that are going to come. but the question is, of course, whether that can grow sufficiently to justify paying 50-times next year's earnings. >> reporter: what do you think? >> i think it's too much. it's the law of large numbers. the 800 million people on the 7 billion person globe here, that really like facebook, are already there. facebook would come back and tell you they've got all sorts of potential for data mining. there's more than advertising that can be done. you learn about all these users. that can be sold to all sorts of companies. that can raise privacy concerns. >> reporter: privacy remains a huge concern for som

to cross-talk facebook's i.p.o. i'm joined by jay ritter in gainesville he's a professor of finance at the university of florida and in toronto we cross to peter leeds he's a financial analyst and publisher of the peter leeds newsletter or a gentleman cross-talk rules in effect that means you can jump in anytime you want and i really very much encourage it if i could go to peter leeds in toronto on the face of it is this going to be a good party good i.p.o. will be successful and is it a good long term investment. this for me on the show peter i think first the price is going to go up i think it'll be successful i.p.o. on first glance but then you're going to have to look at the valuation ratios you know it's going to one hundred times earnings twenty five times revenues that's way too high we think a lot of people are going to jump into it just because it is facebook everything is going to other price further and at the end of the day this start over time will start coming back down jay what do you think about that

to cross-talk facebook's i.p.o. i'm joined by jay ritter in gainesville he's a professor of finance at the university of florida and in toronto we cross to peter leeds he's a financial analyst and publisher of the peter leeds newsletter or a gentleman cross-talk rules in effect that means you can jump in anytime you want and i really very much encourage it if i could go to peter leeds in toronto on the face of it is this going to be a good good i.p.o. will be successful and is it a good long term investment this for me on the show peter i think first the price is going to go up i think to be successful i.p.o. on first glance but then you're going to have to look at the valuation ratios you know it's going to one hundred times earnings twenty five times revenues that's way too high we think a lot of people are going to jump into it just because it is facebook everything is going to go the price further and in the end of the day this stock over time will start coming back down jay what do you think about that i mean m

facebook. i never have i never actually dressed your guests last point in. it in the very you know you could be on facebook and it's tracking what you like and what you do at work somebody walks by and sees you want to facebook on your monitor and on the side is a whole bunch of ads that are going to be related to what you like you might not want that person to know that you are interested in overseas vacations or whatever it may be and so there's a bit of a privacy breach there i think because it's going to put ads that are appropriate to what you've been looking at on your facebook page for people to walk by and see ok gentlemen we're going to go to a short break and after that short break we'll continue our discussion on face state. and. see. from los angeles to chicago to birmingham twenty trauma centers have closed since two thousand severe problem is not enough in patient beds not enough earth emergency department beds and not enough nurses those that to take care of all the people who ar

to cross-talk facebook's i.p.o. i'm joined by jay ritter in gainesville he's a professor of finance at the university of florida and in toronto we cross to peter leeds he's a financial analyst and publisher of the peter leeds newsletter or a gentleman cross-talk rules in effect that means you can jump in anytime you want and i really very much encourage it if i could go to peter leeds in toronto on the face of it is this going to be a good party good i.p.o. will be successful and is it a good long term investment. this for me on the show peter i think first the price is going to go up i think it'll be a successful i.p.o. on first glance but then you're going to have to look at the valuation ratios you know it's going to one hundred times earnings twenty five times revenues that's way too high we think a lot of people are going to jump into it just because it is facebook and we think it's going to either price for and in the end of the day this stuff over time will start coming back down jay what do you think about t

and facebook has it. so we think we're early innings and very excited about it. >> rob, would you venture in to facebook if indeed you had the chance? >> sue, i agree with chris that we're in the early innings here, but you look at the ipos from last year, two-thirds of them are under water. there's going to be a lot of hype in this ipo. i think investors are going to be able to buy facebook at a cheaper price than the ipo price. i'd wait. i would go for more established companies in tech like apple. >> all right. chris, what about google? i mean, you know, we posed the question yesterday in our afternoon meeting of one of our producers did about whether or not facebook in essence might make google obsolete if indeed they start to do some of the same things in a big way that google is doing? >> that's a good question. i actually take the other side of this. i think google is actually going to be shown to be in a very good relative state. last year google grew revenues over 30%. doesn't look like that's a

facebook. i never have i never enjoyed dressed your guests last point in. it in the very you know you could be on facebook is tracking what you like and what you do at work somebody walks by and sees you want facebook on your monitor and on the side is a whole bunch of ads that are going to be related to what you like you might not want that person to know that you are interested in overseas vacations or whatever it may be and so there's a bit of a privacy breach there i think because it's going to put ads that are appropriate to what you're looking at on your facebook page for people to walk by and see ok gentlemen we're going to go to a short break and after that short break we'll continue our discussion on facebook state park. and. see. well into the future science technology innovation all the latest developments from around russia we've got the future covered. wealthy british style. that's not on. the. market why not. come to find out what's really happening to the global economy with monk

facebook gets about 30% of that. that is a growing business for facebook. we're sure to hear more about that. we'll be looking for that. >> we'll certainly go back to you as it develops. julia boorstin. we'll go to bull and bear on the company and get per speck tick. breaking right now, over to you, herb. >> maria, green mountain reported beat on the top and bottom lines. which the bulls have expected. the company did lower guidance for the next quarter. and on the earnings. and has a gain in sales of about 45% to 50%, after 100% this past quarter. also interestingly enough, i was looking down here, inventories are a key part of this story, increased to $600 million from $269 million a year ago. what's interesting is among in the finished goods category, 66% of the increase is due to k-cup packs on hand. that's a big concern. the stock currently closed and halted and will reopen at 4:30. >> thank you so much, herb. we'll get back to you as the stock opens and we get more information there. as wall street is gearing up for the facebook upcoming ipo filing, w

as shown in this demo video, provided by facebook. it is part of the series of changes rolled out late last year. >> it is the heart of your facebook experience completely rethought from the ground up. >> the new ticker updated were designed to make it easier to use, but most users held off on changing to a time line because they liked things just the way they were. >> we have been talking about it a lot at work and people don't like it. >> what do you think about them picking what storys are important to you. >> i don't know how they would know that. over the next few weeks, all of the 800 million members will see the profile page become a time line. it is a record of everything you have posted since you joined facebook which includes those embarrassing posts you made two years ago after that crazy party. >>> facebook expert says that these changes make it more important than ever to edit and set limits on your page. >> the default settings are pretty much set so that anyone can see your information. >> the good news is that you can

but for now, facebook is riding high. we learned tonight 27-year-old founder mark zuckerburg owns about 28% of the company. he is the largest single shareholder with the company and with this ipo his net worth could climb to about $28 billion. >> as they say, only in america. kate snow, thanks for starting us off tonight with that. >>> now we turn to the presidential campaign trail. today mitt romney's victory lap after his big win in florida last night went wrong when critics on both sides of the political aisle jumped all over him for a badly-worded remark. our report from the trail tonight from nbc's peter alexander. >> what a welcome, thank you! >> reporter: energized by his resounding florida victory, he rallied supporters in minnesota, where votes will be cast tuesday. >> we elected president obama to lead. he chose to follow and now it's time for him to get out of the way. >> reporter: it was this comment in an interview on cnn that started a firestorm of criticism. >> i'm not concerned about the very poor. we have

to cross-talk facebook's i.p.o. i'm joined by jay ritter in gainesville he's a professor of finance at the university of florida and in toronto we cross to peter leeds he's a financial analyst and publisher of the peter leeds newsletter or a gentleman cross-talk rules in effect that means you can jump in anytime you want and i really very much encourage it if i could go to peter leeds in toronto on the face of it is this going to be a good party good i.p.o. will be successful and is it a good long term investment this for me on the show peter i think first the price is going to go up i think to be successful i.p.o. on first glance but then you're going to have to look at the valuation ratios you know it's going to add one hundred times earnings twenty five times revenues that's way too high we think a lot of people are going to jump into it just because it is facebook everything is going to the price for and at the end of the day this stock over time will start coming back down jay what do you think about that i mea

. >> if you guys were the inventors of facebook, you'd have invented facebook. >> the real mark vowed he would never see the film. on opening day, he changed his mind. >> we took the whole company to go see the movie. >> took the whole company. >> i mean, i actually thought it was pretty fun. >> but i guess my question is, was it hard to watch for you? >> in watching it, it's pretty interesting to see what parts they got right and what parts they got wrong. i think that they got every single t-shirt that they had the mark zuckerberg character wearing right. i think i actually own those t-shirts. >> come on. >> and they got sandals right and all that. >> [laughs] but i mean, there are hugely basic things that they got wrong too. i mean, they made it seem like my whole motivation for building facebook was so i could get girls, right? and they completely left out the fact that my girlfriend and i have been dating since before i started facebook, right? so i'm not just, like-- >> wait, what? say that again. the girl--your current girlfriend, you were dating back then during the time of th

facebook is becoming a remarkable -- it -- people spend a remarkable amount of time on facebook. that will only grow as more users sign up. >> what will users do if the facebook they have grown to know and love does not look like what they want to use any more? where else would they go? do you think facebook is too smart? >> their our competitors in the space. google is making a play. right now, there is nobody showing evidence of pulling away. every time facebook makes a move that alienate some of its users, they pull back a little bit. facebook has the remarkable hold on the public. >> describe what facebook will look like if this is a successful launch. >> i do not think users will see anything different right away. over time, users will continue to see more emphasis on facebook as the business. i do not think people like my mom, who uses facebook every day, realize it is a business. it is not just for us to play on an right to our friends on. over time, it will make people see in more advertising encroach on the website. >> we will be watching the public offering. great to ha

to cross out facebook's i.p.o. i'm joined by jay ritter in gainesville he's a professor of finance at the university of florida and in toronto we cross to peter leeds he's a financial analyst and publisher of the peter leeds newsletter or a gentleman cross-talk rules in effect that means you can jump in anytime you want and i really very much encourage it if i could go to peter leeds in toronto on the face of it is this going to be a good pipe good i.p.o. will be successful and is it a good long term investment. this for me on the show peter i think first the price is going to go up i think it'll be successful i.p.o. on first glance but then you're going to have to look at the valuation ratios you know it's going to one hundred times earnings twenty five times revenues that's way too high we think a lot of people are going to jump into it just because it is facebook everything is going to other price for it at the end of the day this stuff over time will start coming back down jay what do you think about that i mea

facebook is at that point now. still, internet analyst tom forte says if the deal is unique, and facebook just might be, then the timing shouldn't matter. >> maybe you could make an argument that, late last year when linkedin and some other companies came out, there would've been an opportunity for them to maybe get the most price or the most value. but, i think it's still a very good time, and when you're a great company there's a lot of environments that are suitable for coming public. >> reporter: and, of course, if the facebook i.p.o. does live up to all the hype, it just might give a boost to the overall u.s. stock market or, in facebook lingo, "friend" it. suzanne pratt, "nightly business report," new york. >> tom: rick munarriz is the senior technology analyst for the "motley fool." rick, facebook has seen some amazing growth and we got the official numbers with this ipo registration today. take a look at the growth numbers we saw, just the top line, the revenue, from 153 million in sales in 2007, 700 plus m

one, facebook. second, the idea that a rip-roaring bull might bring people back -- >> >> here's my question to you. what do you think of this idea that part of the reason the volume is down is traders trading less on innuendos, rumors, on all of these reports of insider trading activity? does that make any sense to you? >> look, i think if you know that your phone lines are tapped, if you know they're going after the biggest guys, maybe you don't take fliers. i always hesitate to think there's insider trading -- >> those cases are impossible. those are very difficult to prove. >> forget about insider trading. how about just going on rumors on dot-com sites and trading on those kinds of things and everybody saying, i don't even want to do that. >> s.e.c. hasn't brought a lot of fomentation cases but i think retail believes, i'm done losing money in the stock market. you don't like to disparage retail, but this was the wrong time to get out. >> finally, facebook, you want to do a bid on -- >> everyone

facebook profiles and they give facebook all the status, facebook uses that data to make lucrative advertising products. and they're selling like hot cakes. it's a big threat to everybody else and internet advertising. so that's why i think they're going to be around for a while. >> what's the sudden bumper crop of young -- sorry, carla. what's this bumper crop of young millionaires going to mean to the bay area? >> i think you said it, young millionaires. these shareholders skew young, younger than google, younger than apple. some of these, most of these engineers i would say, i would say on average they're in their mid-20s. some of them younger. and i don't think they're looking to put down roots in the bay area and buy property right now. i would think, you know, look to corporate taxes for a lot of local benefit. but i wouldn't count on individuals providing the kind of revenue that california needs for the state budget. i would say if you own a lamb bo lamborghini or rolex outlet, you might be doing well. >> this is a company that's upped its profile on the political scene in the last yea

if you have any questions about the facebook ipo, go to cnbc's facebook page. i'll do a live q & a as soon as "power lunch" ends. >> excellent. >> everybody needs a virtual cow, don't you think? >> did you see how cold it was in california? come over to the east coast. >> i know. it's 60 degrees today. straight ahead as simon and i continue, no fireworks certainly, but still a steady climb for the markets this year. the s&p up 5%. nasdaq more than 9% higher. so far anyway. is this goldilocks market just right or forget the day-to-day and look long-term? >> in the meantime here's the action on the s&p sectors so far this thursday. down at the bottom health care, utilities, slightly defensive move there. and look at financials gaining again. tdd# 1-800-345-2550 i'm a serious trader. tdd# 1-800-345-2550 so, i want to trade at a place that really gets who i am tdd# 1-800-345-2550 and what i need. tdd# 1-800-345-2550 and still gives me a great price. tdd# 1-800-345-2550 at charles schwab, you get everything you need tdd# 1-800-345-2550 to trade your way. tdd# 1-800-

on earth and in facebook. >> i follow you on twitter. >> that's nice. >> when my mom gets on facebook, you know that maybe something next is coming up. also facebook is not -- no, you know what i mean. >> she didn't mean it in a bad way. >> i don't even know how to do it. my mom knows how to upload pictures. >> i don't know how either. >> i loose look at some of these things, if you're a young person going to apply for a job, graduating from college, wouldn't one of the first things a new employer does, they google search you and go on the facebook to see what you've been up to. and i actually think that in some ways where facebook has led to some marriages failing issues i also think it led to some people not getting a job. >> absolutely. >> that's true. >> one quick point -- >> there is a lot of stalkers on there? >> no taxpayer bailouts for facebook whatsoever. >> they don't need it. it's american innovation. but the question today is, will it make you money if you buy into it? >> shall we move on? >> here is a math question. multiply 8 by 2, then divide it by 4 and subtract 3. wha

zinga needs facebook more than facebook needs zynga. you probably need to take control of that. as long as we're talking about facebook's s1, let me call your attention to a letter of mark zuckerberg included in a document. it's a warning to all investors. he says facebook was not originally created to be a company. it was built to accomplish a social mission to make the world more open and more connected. we think it's important that everyone who invests in facebook understands what this mission means to us. now, guys, the google guys wrote something similar ahead of their ipo. it's essentially saying what we do is a calling. we're not trying to make money, and if you're going to invest, you need to understand that. back to you. >> okay, scott, thanks. >> we have to create a company not about making money. >> if you haven't checked the calendar right now. it is groundhogs day and that means it's time to ignore the facts and time to get superstitious. >> this morning punxsutawney phil is predicting the weather and the verdict is six more weeks of winter. phil allegedly saw his s

on average -- who are locking into facebook every single day. -- logging in to facebook every single day. that is the revolution of facebook. a much time and energy people are putting into this. >> when i look at my own children, i can well believe those numbers. but how is it going to change when it goes public? >> first of all, it is under a lot more scrutiny. it has to reveal information about its revenues, where it makes its money. about 8% of that money is from advertising. it gives us a fax of the salaries of some of its people, including -- it gives us facts about the salaries of some of its people, including mark zuckerberg. a lot of metrics that we interesting for investors. facebook has also been under a lot of scrutiny for the last two years. there have been and i-facebook campaigns when it comes to -- anti-facebook campaigns when it comes to users around the world. that will be a huge challenge going forward. how will advertisers market to them. that is going to be vital going forward. >> we will be watching all of that very carefully. thank you, caroline. still to come o

: the facebook i.p.o.-- it's the biggest hit for investment banking in years. we look at what it could mean for the sector. >> the lead is the position you want. the other companies will get fees, they'll add that to revenue, but the prestige of having that is what you strive for. >> susie: then, ben bernanke defends his decision to keep interest rates at record lows longer, and he warns lawmakers need to strike a balance between cutting the debt and spurring growth. it's "nightly business report" for thursday, february 2. this is "nightly business report" with susie gharib and tom hudson. "nightly business report" is made possible by: captioning sponsored by wpbt >> tom: good evening and thanks for joining us. a strong warning today from federal reserve chairman ben bernanke, and a pledge about reforms from the treasury secretary. first, susie, the fed chairman told a house panel the federal budget deficit is growing at an unsustainable and potentially dangerous rate. >> susie: tom, the fed chairman urged

look at facebook. nobody knew there was a requirement for facebook a few years ago, but there are thousands of jobs being produced not just by facebook, but in the telecommunications companies, the people that make the routers, the people that put in the high speed lines and so forth. so i believe that the fundamental problem, the reason that huge amount of money is on the sideline is the you states is not as good a place to invest as other places around the world, because of growth there, and we penalize profits made abroad from being brought back in the united states, where they can be invested and produce american job. >> it's bob johnson. i don't know if you were in memphis but i was singing your praise on a tv interview i did in memphis announcing the opsplace.com site we're building. you were one of the first subscribers to it in terms of its effort to create more jobs for minorities, so i'd like you just to comment for our viewers as to why you feel it's imperative that companies embrace this gr

now it's all on facebook. and i think that's the future he's going for. >> maybe mark zuckerberg and newt gingrich can work on that lunar colony, you know, once the earth has been conquered, the moon is next. ben mezrich, thank you for your time. thanks for joining the program. we want to know what you think about the future of facebook, so tell us on facebook, facebook.com/nowwithalex. >>> coming up next, there's a chance of a truce on capitol hill. the peacemakers may surprise. they're members of the same party. that's next on "now." ♪ he was a 21st century global nomad ♪ ♪ home was an airport lounge and an ipad ♪ ♪ made sure his credit score did not go bad ♪ ♪ with a free-credit-score-dot-com ♪ ♪ app that he had ♪ downloaded it in the himalayas ♪ ♪ while meditating like a true playa ♪ ♪ now when he's surfing down in chile'a ♪ ♪ he can see when his score is in danger ♪ ♪ if you're a mobile type on the go ♪ ♪ i suggest you take a tip from my bro ♪ ♪ and download the

but for now, facebook is riding high. we learned tonight 27-year-old founder mark zuckerburg owns about 28% of the company. he is the largest single shareholder with the company and with this ipo his network could climb to about $28 billion. >> as they say, only in america. kate snow, thanks for starting us off tonight with that. >>> now we turn to the presidential campaign trail. today mitt romney's victory lap after his big win in florida last night went wrong when critics on both sides of the political aisle jumped all over him for a badly-worded remark. our report from the trail tonight from nbc's peter alexander. >> what a welcome, thank you! >> reporter: energized by his resounding florida victory, he rallied in minnesota. >> we elected president obama to lead. he chose to follow and now it's time for him to get out of the way. >> reporter: it was this comment in an interview on cnn that started a firestorm of criticism. >> i'm not concerned about the very poor. we have a safety net there. if it needs repair, i'll f

ahead facebook pulls the trigger. a look at what is revealed today in the stock filing. >> you're seeing birth control pill. there has been a major mix up with one brand that could lead to pregnancy scares for women taking it. >> and michael finney taking your questions through his facebook and twitter pages and will answer them here, live in just a little bit. you can contact michael on twitter and facebook.com/michael finney abc 7. >> taking a look at traffic now if you're heading south, smooth going right now. there is a different story for folks heading east. stay with us. the news continues right after this. -dad, why e you getting that? -that's my cereal. is there a prize in there? oh, there's prize, all right. is it a robot? no. is it a jet plane? nope. is it a dinosaur? [ laughs ] [ male announcer ] inside every box of heart healthy cheerios are the great tasting little o's made from carefully selected oats that can help lower cholesterol. stickers? uh-uh. a perhero? ♪ kinda. [ male announcer ] and we think

: the facebook i.p.o. is the crown jewel for the investment banking world. for months now, bankers have been wooing the company for a piece of the multibillion dollar deal. surprisingly, however, it's not so much about the money as it is bragging rights. morgan stanley gets to do all the bragging. by winning the coveted role of lead underwriter, the bank gets a big chunk of the fees. but morgan stanley is also well positioned for future facebook offerings or acquisitions and, experts say, it's pretty clear why the bank got the prized trophy. >> morgan stanley has done several recent internet i.p.o.s, therefore, they had a leg up versus their rivals. >> reporter: j.p. morgan goldman sachs, bank of america barclays capital, and allen & company will also get in on the action, and there could be others added to the roster. but wealth manager jeff sica says not being top dog is a big black eye for those firms, especially goldman. >> the lead is the position you want. the other companies will get fees, they'ladd

let's cover the waterfront from y europe to facebook. ipo filing from facebook is the topic. we bring in kayla and simon hobbs, both standing by at global headquarters. simon, wait a minute, we were hours away from a greek restructuring deal. now we are days away from a restructuring deal. what a surprise. >> that's true. what i wanted to draw everybody's attention to is the strong performance we're getting partly as a result of that entrance on germany. the german index, the bulk of the german index is up 12% so far this year. on the manufacturing data in the united states and china and germany, the likes of commerce bank, bmw, daimler chrysler, all doing extremely well. last night we've got reported details on the fine print of that private sector deal in greece. i would say there are two things we need to watch out for, bill, in the wake of the headlines that you're quoting there. the first is the degree to which the ecb will reflect the haircuts that it took on the greek debt that was launched, with it, collateral for the sake of the greek government. the more important t

. >>> secret facebook millionaire. he just was $200 million richer, after he took shares instead of cash, for these edgy murals. tonight, he tags the town with barbara walters. >>> and sexy stretching. one of yoga's more stimulating benefits. this book says it can improve your sex life. and there's millions who agree. the new wave of sexy yoga, focusing on the erotic energy. >> announcer: from the global resources of abc news, with terry moran, cynthia mcfadden, and bill weir in new york city, this is "nightline," february 9th, 2012. >>> good evening. i'm terry moran. religious refugees. now adays there's no sense in hitching up a wagon to get a congregation. it's gone online. tonight, we meet a man, an online preacher with an unorthodox message. here's abc's neal karlinsky for our series, "faith matters." >> what if i told you, jesus came to abolish religion. his rap has been viewed 19,000 times. it is a slickly produced youtube video, from a guy no one had heard of. a 22-year-old born-again christian, who makes the p

talking about facebook. and today it will file papers to raise billions of dollars in an initial public stock offering. "today in the bay's" bob redell joins us live at facebook headquarters in menlo park with the details. good morning, bob. >> reporter: good morning, laura and marla. there's speculation that there could be a surprise in this filing, perhaps some sort of language that would make it easier for the 800 million facebook users to get in on the initial public offering itself. typically on an ipo that's this hot, this popular, most of those shares go to institutional investors but we'll find out when this filing is revealed whether that is not the case. maybe it will be easier for the average joe. facebook's ipo is expected to raise up to $10 billion for the company n company. that would be the sixth largest ipo ever. the social dpint would be valued an an estimated $100 billion, greater than disney or gm. today the expected ipo filing will shed light on something facebook keeps private -- its fin

or facebook. looking at how technology has helped, i think this is pretty much away from -- i would not give the u.s. the credit for having facebook. people use tools. i know i sound very bad try to get the u.s. out of the picture, because i saw a lot of credit taking happening in some of the western newspapers about the role the u.s. played in the revolution. what do i want the u.s. to do to support the country? i want them to do nothing. i want them to stay neutral. if the interests of the egyptian people does go against -- the country, which i highly respect -- they are basically going to take the side of the american people. egyptians are capable of going through this, learning from everyone else and getting help as much as they can when it comes to the economy and so on. but we are very sensitive to interference. in fact, every time the u.s. foreign policy has interfered in egypt it's taken in the opposite way. people do not like it. do not appreciate the fact that the u.s. is telling us what

. >> do you think it's a good idea to be facebook friends with your child's teacher? >> could see a shower overnight and won't believe the temperatures we could see tomorrow. we'll talk about how warm it will get. >> we begin with breaking news out of penn state. the university received a federal subpoena in connection with the jerry sandusky investigation. sandusky is accused of molesting several boys in some cases on the campus of penn state and now it's a federal case. we'll have more on the breaking developments at 4:30. >>> tonight state lawmakers have given the thumbs up in a bill approving same sex marriage. >> after last year's failed attempt it puts us on the track for the eighth state to legalize it. >> 25 votes to affirm, 22 in the negative. >> it's a great day in the state of maryland. >> it was a day of back and forth and hours of debate. >> we have two men getting married. you have certain qualifications in here saying a husband will get this right, a wife will get this right. which spouse will apply to which category here? >> i believe marriage is betwe

that require facebook it makes it hard for people not to use facebook. >> reporter: and that is acebook's goal, to become the place on the internet that ilople must use to connect with cy,ends and businesses. everything users do on facebook adds to a detailed personal profile that facebook then sells to businesses searching for just the right customer. while some worry about privacy, n at hasn't stopped more than 800 million around the world from posting their profiles on facebook. >> it keeps me in touch with everybody. ine, i can find them online whenever i want because everybody's on facebook all the time. >> reporter: increasingly, facebook offers one place to do it all-- from sharing photos to shopping. we social network doesn't want to be just a stopover on the internet, it wants to be the destination users never leave. john blackstone, cbs news, san francisco. >> pelley: american airlines anid today it plans to cut 15% of its work force. that's about 13,000 jobs, from pilots to baggage handlers. the company declared bankruptcy ec november. the job cuts are part of a g structuring t