good morning. it is 8:00 a.m. at the bill graham auditorium in san francisco. it's 11:00 a.m. on wall street and squawk alley is live.

>> john forte and myself at post 9 and joining us from out west former twitter ceo. it's good to have you back this morning. as we said first up apple's big event kicks off at 1:00 p.m. eastern. it's expected to be about the iphone and kayla is going to cover that and is going to raise the curtain on it. good morning. >> good morning carl. we got a tweet just a few moments ago from apple's ceo tim cook saying the sun is coming up in san francisco and we are ready for a big day. a big day indeed could be ahead for the iphone. for a lot of apple's hardware and it's product line-up and here is what is telegraphed and what we think we know so far about what could be announced today. first some new colors. double the memory. a better camera which reportedly has 800 people working on it and then on the other side outside

of the iphone, perhaps we get a refresh of the mac book. of the ipad. siri could get an update. more visual messages. we'll have to wait and see. this update has been described by wall street as solid but not game changing. sales are expected to be flat. 230 million iphone 7s are expected to be sold and a large portion of the new sales are expected to be upgrades from customers with the iphone 5s two weeks ago. up 1.5%. investors traditionally buy the anticipation going into these events and sell on the news. we'll see if that pattern follows again today. they're hoping this iphone update is not only solid but solid enough to return the iphone to growth. shares of apple as you can see down close to 2% in the last year. but it's not just about the iphone. apple sals going to be to turksing all of it's services. it's services unit generates

more revenue alone than facebook does in it's entirety. we did get some hints about potentially what services could be highlighted today. apple's music head of marketing tweeting yesterday, time to work, #i'm with the crew, #apple, #keynote. she is known to bring the house down and that tells us maybe there's going to be a focus on apple music. until then we're left to draw our own conclusions. some peel are buzzing about the fact and you see all the colors and people are saying maybe we'll get an update to the multicolored line-up of the c or the se. for accident prone people like me, i'm of course hoping we get something that's a little bit more water proof but we'll see carl. >> already the jokes are going around on cook's tweet. going to be a big day. what does that mean for screen

size? you name it. people will grab anything they can. let's talk apple this morning. these days these events at apple have their own peculiar rhythm on twitter. what do you think is important today? >> if you told me the next leader of apple would be consid considered a thought leader and world leader as tim has done and most people wouldn't believe you. that's the toughest act in the world to follow and he has done a remarkable job. >> three things matter. if they do away with that head phone port they have to make an argument and it's stronger than what bluetooth technology has

shown us thus far. they work and are a lot better and answer the question what happens if you want to listen to music and charge a phone at the same time. second thing is watch two and then three is the iphone se. are there two different versions of it. do they make the entry point cheaper and thus what happens to margins from a ceo perspective. you've been in that seat before if you're going to change the design of your core product. >> it's incredibly important. there probably isn't a company that's better in the world at delivering that message in the most precise way possible and you'll hear that from him today. >> do you believe this head phone jack is an example of them dragging consumers to areas that even they don't know they want

yet? >> that's one way of putting it. it's a good idea. i ran a marathon in the beats wireless head phones. it works great without the head phones and if that allows them to do other things in the hardware they do that's probably the right step forward. >> kayla. >> well i'm curious about his perspective on this need for companies to be all things to all people and as it moves into new markets it's wanted to enter lower price points as john just mentioned but what's the risk that you dilute your core product by having such a diverse identified product line-up despite a need to do that? >> apple has always done a great job with that.

even with the 1.0. the high end luxury version of it and low end versions and they'll continue to do that. they have always been great about that. i'll excited about the new probably gps capabilities and the watch that will allow them to do a lot more in the fitness world and fitness tracking so i'm looking forward to seeing what happens there today. >> speaking of apple, ireland's prime minister spoke to cnbc about apple's $14.5 million tax bill from the eu. julia is live this morning with more on that story. hey, julia. no sweetheart deal so i said okay then there's other big tech companies obviously operating here. does that mean they all got treated the same? the likes of alphabet, microsoft, facebook? and should we be expecting the european commission to be slapping those guys with with some unpaid tax charges at some

point in the future? listen to what he had to say. >> and particularly ireland has been one of the foremost players on the oecd program to deal with this internationally. >> this is a legacy issue now. you have done many measures and enacted many measures to tackle this. why are you concerned that accepting this money now from apple will have an impact on future investment? because it's an old issue. it's an old issue and we can move forward now with future investment. >> first of all, the amount of money involved is quite unprecedented but secondly the commission planned it out that some of that money may be due to

other countries and some of that money may be due to the american treasury. and it's not ours to spend. >> what's your message with the likes of microsoft about the risk that this could happen to them? >> well, the reason is that those companies came here. there's over a thousand multinationals in ireland is not just because of tax issues and the talent pool coming to our education system. the fact that we have a proven track record and long system of the european eun whereon. they come here for those reasons as much as the tax system. >> he was firm. he said look ireland is being penalized. here as a small country. this is a huge overreach by brussels and i said to him could this kind of behavior lead ireland down the same path as the u.k.? is it possible?

he was addiment. he said absolutely not. no way. he said but this kind of treatment doesn't help. guys, back to you. >> really moves the ball forward julia. we appreciate that. how would you handle this sort of global tax dispute? >> that's a complicated question. i would say i'm in complete agreement with the government of ireland. i think they have been doing a great job reaching out to companies to get them to deliver jobs into dublin and throughout ireland and to larly in the aftermath of brexit for the eu to come in with such a seemingly shocking number of back taxes on apple, that just strikes me as, you know, not the way that the eu should be working with folks

like ireland that are doing a great job of attracting all the multinationals. >> i wonder to what degree you think this flap with apple in ireland versus the eu is unique because apple books profits on huge revenues to a degree that a lot of software and services companies do not. some of them, amazon for instance because of their degree of reinvestment and then facebook and google does this have the same kind of implications for the rest of silicon valley as it does for apple. >> first it's a complicated question. there's all kinds of ways that companies book global revenue for whether it's goods or services and where those goods and services are sold from and where the main sales office is. all of those things have tax ill mri kagss so for the eu to come back and slap this, you know,

again shocking, i'll use that word, number on apple, that's going to give everybody else pause and, you know, ireland needs to have some ability as a sovereign nation to attract the jobs and companies to their country. i thought it was surprising and not particularly helpful. >> finally, twitter around $20 this morning. shares up over 30% in the last three months. i know you're aware of some of the speculation surrounding this board meeting. are you contending there's nothing special about tomorrow? >> look, i mean, the company is under a microscope like no other company in the world and i think it's reached almost epic proportions when regularly scheduled board meeting starts to take on almost pontiff-like expectations. i'm invisioning media people and analysts outside of the building looking for what color smoke is

coming out of the top of the building on thursday. so i just think it's gotten a little bit out of hand with the normal course of business. >> but what i don't hear you saying is that there's been no evolution in the way discussions happened surrounding a change in control? has nothing changed at t all? >> i couldn't comment on that. i'm no longer instiide the companiful i have complete faith in the folks in the company and the new board members i know brett taylor well and he's an extraordinary person so i have every confidence they'll do the right thing. >> given how twitter operates the way it needs to compensate employees do you think it could operate as a private company at this stage? >> well it is operating -- could i operate as a private company -- >> i see what you're asking. i couldn't comment on that. i don't know what the board happens to be thinking right now. >> i'm not asking whether it will. i'm asking whether you think it could. >> i mean it could probably -- it could operate in any number

of ways and i'm sure they're evaluating all the different options. >> finally as nfl season starts this week i wonder what kind of me tricks viewers should be looking for to see whether or not this nfl deal at twitter is going to hold some water. >> it's early days. it's just getting off to a start. i'm excited. i'm super excited for it. i've been paying attention to all the live work twitter has been doing. the tests with tennis. some of the tests around the conventions and i think that everyone inside the company is fired up and excited about it. i know a bunch of people spending all of their time and energy on it so i'm looking forward to it and plan on engaging with it the moment it comes out. >> well, the #s are out. #broncos, #go 9ers, go bills, you name it. we'll see what happens. it's always good having you. thanks again. >> thanks for having me. >> we do want to check in on the

markets right now trading with all the major averages. just about to the negative, the nasdaq just about at the flat line. the nasdaq did touch another new all time intraday high but we'll have to see how it closes. a nice gain for western digital after it raises it's guidance for the current quarter. it's acquisition of san disk is expanding it's customer base. that stock up better than 12% at the moment and take a look at amazon and facebook. at one point both touching new all time highs. >> when we come back the cost of cyber crimes rising. plus we'll hear from golden state star steph curry during his trip to china. sarah is there live with underarmor and plenty more outside apple's event in san francisco. one of the biggest apple experts around is going to tell us what to expect when squawk alley continues in a moment.

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and according to cyber security ventures damages and related costs from ransom ware attacks reach a billion dollars an cruelly. let's bring the ceo and shark tank host. robert, good morning.

welcome to post 9. great to have you. >> so these are big numbers. to go from 24 million to a billion. the report says in the first quarter alone it was 200 million. have they just found a type of attack that works. that's impossible for them to go to town with it. >> yeah. first of all, the stats come directly from the fbi. and over 200 million alone this year. that's going to grow to a billion. it's a convenient attack. and it's more convenient for people that pay the money than to dig into the fix for it and it's easy. >> it seems like what happens here is the hacker tricks some individual usually into giving access to the system. they encrypted all the files in the system taking them hostage and if you want your data back give us the money.

how do you thwart that attack other than getting people smarter other than using flash drives. >> it's a traditional method and what we always say is coming down to training number one. you haven't won anything you haven't entered. there isn't a woman in russia that thinks you're sexy and all of those kind of things -- sorry. but you would be shocked how many people still open attachments and links. don't open an attachment for something that you haven't verified. it's traditional antivirus. and can do that validity for you. >> if you do pay this ransom what's to keep you from becoming a repeat victim. >> that's the point. a lot of people are paying the ransoms because it's convenient. we never recommend that you pay because you have no guarentee

that you won't be a victim again and most people don't know they have been effected by ransom or malware so we're seeing a growth in managed security. it's an alarm system. you need somebody watching your testimonies to make sure that you're protected. and security companies like this and approximate this attack continues to be successful and does it pay itself out some way what should we expect to see a couple of years from now? >> the low hanging fruit is money but the long-term game is data as a weapon. a lot of this is being instigated by foreign governments, agencies and hacker groups. they're using that information and elicit information and competitive information and the cost of data and the loss of

data is much more valuable than paying a bit of money but in the short-term it's money. that's what people are after. >> in term of shares of victims, public-private. are governments most under attack or is it private enterprise. >> it's a lot of consumers but the number one area right now is health care. hospitals and health care. the systems are outdated and you're seeing the growth of the internet of things the physical world and infrastructure is being connected to the cyber world and hospitals utilities are arcaic. their systems are old. they're in a rush to connect those systems so they're creating a lot of gaps. >> it's the closest thing you have to a live hostage. lives are at stake. apple has an event today. and how hard it is what do you think apple ought to announce around the security of the

iphone. should they go tougher? how much tougher? do they need to have additional biome trick measures. >> they're tough to begin with. they have to hire a third party firm to hack into it. they feel that they're confident about it. they're always going to continue to increase the security on an iphone. a lot of those there are going to be esthetic. i still don't know how i feel about using my earphones. i have funny ears. >> we'll both be watching with interest robert. thank you for joining us. and up next ahead of that apple event inside look for morgan freeman and his producer on what it was like to negotiate with steve jobs. we're back in a moment.

>> what is it like to negotiate

with steve jobs? our latest episode of bing is out and in it morgan freeman and lori mccreery tell us about founding a streaming media company a decade ago and the tactics that steve jobs used. take a listen. >> can you just tell me what you saw at the time you obviously had an idea that we're not going to be watching content the way that we were. what did steve jobs say here? >> we were presenting at the conference and we talked about movies and television, there were going to be tens of thousands of them available online and we have this idea to put clint eastwood had a western channel, danny divito had a horror channel and steve jobs said this is ridiculous. you're wasting time and intels

money. no one is going to take the time its going to take to download a movie and watch it online, you should stop what you're doing and inside i was dying because i'm a computer programmer and he was one of my heros and i was trying to not burst into tears and andy grove turned around to me after jobs walked out and said to me you know he's going to do it right? pre itunes downloading movies or anything. and i thought that -- >> we talked about this episode yesterday after camera. you said it was classic tactics. >> he said something sil to drop box. you have a product there but now the company remember, he said people would never watch video on an ipod right before releasing the video ipod so he had all kind of ways of contradicting himself and trying to throw people off the consent of something he was interested in and he could be a jerk siems.

>> always asked what would he do about x, y, or z today? we don't know. he would reverse course. >> we wouldn't necessarily want to do what he would do in the way he would do it. >> it was fun to sit down with them who co-produced and styles direct madam secretary on cbs. you can watch the full interview and more streaming on cnbc.com/binge, hulu, youtube and apple tv. >> and we're counting down to the close in the u.k. and across europe. the close happening in under a minute. let's get out to seema at headquaters with that. >> european stocks moving higher ahead of tomorrow's highly anticipated meeting. they're up about 1% on the day. britain in focus as well. mark carney dprabing the spotlight and testifying in front of parliament and defending the efforts in the wake of recent economic data

that suggest that the british economy are holding up post the brexit vote. listen in. >> it represented a risk to the monetary policy. feel comfortable with that. absolutely. feel comfortable in the decision that i supported and the committee took in august to supply monetary policy stimulus. >> his comments come as morgan stanley and credit suisse revised their economic forecast for the united kingdom. analysts there no longer accept a recession following the recent string of update data. also one of the reasons expectations for a policy adjustment at thursday's meeting remain low although the stronger currencies still seen as a major head wind for european exporters. higher piano 3.5% against the dollar this year. meantime the rally and european bonds accelerating ahead of tomorrow's meeting. drag hi is expected to address

concerns of effectiveness. spesktly it's negative deposit rates hasn't incentivized banks more and the on going political head winds. and not just the brexit. and the risk they pose to the economic recovery. big day back to you. >> thank you very much. when we return live outside apple's event in san francisco, kayla, what's coming up next. >> up next we're going to be joined by walt who will tell us the bells and whistles that he's betting on from the iphone, the watch and any surprises that might be in store. that's up next on squawk alley. it's a very specific moment, the launch window. we have to be very precise. if we're not ready when the planets are perfectly aligned, that's it. we need really tight temperature controls. engineering, aerodynamics- a split second too long could mean scrapping it all and starting over. propulsion, structural analysis- maple bourbon caramel.

that's what we're working on right now. from design through production, siemens technology helps manufacturers meet critical deadlines. i think this'll be our biggest flavor yet. when you only have one shot, you need a whole lot of ingenuity. what's that? the number of units we'll make next month to maximize earnings. that's a projection. no, it's a fact. based on hundreds of proprietary and open data sets folded into a real-time, actionable analytics model. nine. eight. three. five. two. you're not gonna round that up? you don't round up facts. powerful analytics driving decisions for the world's most valuable brands. hewlett packard enterprise.

>> found with 7 gas can nisters inside. nato's chief begins meeting with the prime minister and his cabinet. skrorj george wants to join nato and 1 is of the largest contributors per capita to its peace keeping operations. the secret service will start protecting chelsea clinton. she will be back in pennsylvania today on the campaign trail for her mother. she also had secret service

protection when her father was president. >> and a study released by bank rate.com finds 7 in 10 working americans plan on working into their retirement years. well in 25% say they have no plans to work during retirement and half are worried about outliving their retirement savings. that's the news update at this hour. let's get back downtown. kayla over to you in san francisco. >> all right. thank you so much. well it's just under 90 minutes to go before apple's big event here in san francisco with what to expect. we're now joined by walt mosberg of recode and it's great to see you. >> great to see you kayla. >> they're skipping the big generational update that's supposed to come this year in favor of doing it next year. >> is that a gamble? >> it is. they're taking a gamble because the phone market is saturating. their own iphone and company wide sales have been doing a little bit the last couple of

quarters. put i think they still have a few things that they're going to unrole and there's also a new watch. >> they're still going to upset the apple cart a little bit on the iphone by removing the head phone jack. >> there's not going to be a 3.5 millimeter head phone jack and there's a couple of smaller cellars that have done this. motorola and there's a couple of alternatives to that. one is head phone jack that plugs into the charging port and another is bluetooth head phones. remember apple owns a very large head phone company so it may seem to them like the moment to do this. >> we saw apple remove it to make it slimmer and faster. do you think we'll get an iphone that's better because we don't have the head phone jack?

>> that's the $64 billion question. i can remember arguing with steve jobs honest to god about both of those things you just mentioned. really arguing with him about it and his argument was always we're picking technologies, we're pushing forward to the next best technology and maybe it's water proofing or longer battery life or something. they have to show a benefit. they can't say we're taking this out and this is how you can use your audio. >> john. >> yeah. walt, for my money this is the most controversial change apple has ever made because of how many people it effects. there's only one roll out of new iphones.

sounds like they have different levels of new models all the time because of the abruptness of it. i'm wondering if you agree and if you think this is going to be a spectacular update based on the rumors out there and you said iphone 7 needs to be spectacular. i'll be interested to see if it comes close to that. all of the rumors say this is not going to be the year they do the spectacular phone and then it will be next year. are you excited? i said yeah kind of. and she said well i'm excited to see what happens when you all realize you have underestimated us. so, you know, we'll see. we'll see what happens. they have some catching up you could argue to do. they probably ought to have a water proof phone. maybe the head phone jack thing has something to do with that.

i don't know. and i would disagree with you on one thing. when they remove the sloppy drive and you were just a child and i had a huge fight with steve jobs because a tacked them for it in the wall street journal. and there are replacements for it. >> the laundry list of the watch, apple tv, ipad, mac book, which of those. >> you're going to see the watch. i don't think you're going to see anything about the mac or the ipad at this event and the thing about the watch that i think most people are looking for is more independence from the phone. so things you can do with it like gps built into i and maybe other things and longer battery life. >> we might even get some

original content news. that's your wildcard. >> well, there's some hinting around that there might be a surprise. there was a couple of weeks ago they hadn't decided but it would be hardware. i don't know. they have no idea. it's a big tease thing so i don't know. but they do surprises sometimes. it's harder and harder for them to keep things secret but they do. >> i'm sure you have seen them arguing that the head phone jack decision relates squarely to beats and an effort to make those head phones more competitive. anything wrong with that? >> i don't think they would do it just for beats but clearly it's a factor in it. they own a giant head phone company that's actually profitable and is probably ready

to do lightning and bluetooth head phones and ear buds tomorrow because they know about this, right? >> we're obviously reading any tea leaves we have. i was talking about the colors of the shirt that the staff are wearing behind us and maybe that's a sea or glimmer we should be look at but you think it's something different? >> the people already said this. but it's interrupted as a camera effect. it's one of the big improvements on the high end of the two models is two cameras and that opens possibilities. you can do a number of things if they have two cameras, the one

thing that phone cameras don't do very well or haven't really ever done well is real optical zooming. >> what about the fact that your press badge is colorless? >> here's something to chew on. the press badge is just black. so maybe it's apple into darkness. i don't know what it is. but you can read all the tea leaves you want. the press badge is black. >> food for thought. walt we'll see you in there. thanks so much. >> take care. take care everybody. >> guys back to you at post 9. >> thanks, kayla. 75 minutes left to read those leaves. up next steph curry speaking to sarah during a big trip to southeast asia with underarmour. back to you next on squawk alley. don't go away. our debt problem olve

19 trillion and growing money for programs like education will shrink. in just 8 years, interest on the debt will be our third largest federal program. bad news for small businesses. the good news? there's still time for a solution. ask the candidates for a plan to secure our future.

the next pig move chipotle the pick already a lightning rod taking fire from wall street. down 40% in a year. what should you do? should you follow him into chipotle. and in just a little while, washington's number one analyst will see us live. and it's a turning point and a big move in the airline sector put can can they hold their altitude for the long hall.

we'll see you in about 15. >> we'll be there, thanks scott. >> under armour and steph curry in a big trip to southeast asia. he joins us live with more. hey, sarah. >> hey, john. curry certainly understands how high the stakes are here in southeast asia and china for instance. the nba is the top selling league. there are 300 million people in that country that play the sport. almost the entire population of the united states and for nike it's still a business and region growing double digits even though it has 25 times more sales than under armour in greater china so i talked about the unique consumer tubt he sees in this market. listen. >> basketball is booming and it's not just under armour standpoint. it's about the game itself and kids going out and playing and plead guilty inspired by what we

do in the court so come over here in our short little window get up and get out and be face to face with our fans it's important. >> has that surprised you to see the nba fever here? >> it's been extremely eye opening. have been to china three straight summers and different cities and this year is just going over the top with supporting the turn out and just the passion around what i do on the court but you can tell that the game of basketball is healthy and alive. >> lebron, kevin durant, they have been in this market, kobe p bryant with nike for decades. and open the doors and become popular and with my story and how things are going i wanted to be able to share that with fans

here in asia as well. >> what's your story? what makes your different? >> the creativity and imagination i have on the floor and how much fun i have playing the gail. none of this was ever planned or guaranteed. and have faith and confidence in themselves no matter what the skill level is and their physical stature. >> what is he going to do when he comes out and watches you? cheer for durant? >> no, he's going to cheer for me, for our team to win. and whatever it takes for that to happen. >> that's an interesting dynamic new this season. he used to have the under armour in the finals lebron james versus steph curry but now he shares the team with a top nike athlete and when it comes to

those athletes he told me that he admires kobe bryant potentially most because of how he has been able to leverage himself as a brand internationally in a consistent way according to curry. so it was all business here in asia but a lot of people have been asking me what's curry really like? what is he like off the court? so i did want to share with you guys some time that we had. some down time so we spent time inside a hotel room at a piano where curry decided to show us one of the new skills he's picking up off the basketball courts. have a look at this. >> it's going to be awful. you ready? >> you ready? ♪ >> i'm so nervous. this is crazy. how do you do it again? i'm so nervous. don't laugh.

there we go. oh my god this is so bad. i don't i can't playwright now because i'm nervous. >> yes you can. try it one more time. >> i'm going to call in a lifeline >> oh, my goodness. >> i was so nervous i can't even play. you ready? >> yep. >> here we go. >> ready? >> yes. ♪ [ playing "heart and soul" ] >> ah, start over! [ laughter ] >> now if you wondered what makes himself nervous it is sitting down in front of a piano. his wife on tour ent tire time by his side staying away from cameras except for that moment, apparently. she ististic guru and he's the sports guy, of course. they were here several days and it underscores the kind of opportunity he and under armour see in this growing market.

that made up the bulk of our visit despite the fun times on the sideline. wanted to share that with you. >> one more thing he has in common with kobe bryant, an accomplished pianist in his own right. thank you, sara eisen. when we come back, final predictions on the iphone and everything else at today's apple event. live to san francisco after this break.

welcome bok to "squawk alley" in san francisco as we're

counting down to apple's event in about an hour's time. joined by a guy on his home turf. josh lipton in sf. thinking back to the march event where apple was forced to use its opening statement to address the fbi. of course, -- have yoanother issue with th eu. >> it's a critical issue, kayla, but i'd be amazed if tim and phil and eddie decide this was the place they want to bring that up. that would shock me. today keep it all about hardware. >> tim, phil, eddie. who else do you think will be in the lineup? >> interesting to see whether there's apple music news. interested to see whether executives there, remember, of course, in june we talked about the apple music app getting a refresh here, supposedly going to be easier to use. that was part of the criticism of the first version, clunky, confusing. also, remember, if you wanted to talk about apple music, what a

great venue. historic venue behind you. let's talk about apple music. maybe does tim cook invite a band? looking forward to that, too. >> in june the company sort of took the covers off the third watch operating system. all in advance of a new watch. today what bells and whistles will it have? >> the expectation you do get a new watch. better battery. i think gps is another report that would be important, because showing you the device, maybe operating with nor functionalities, a stand-alone device. you talk about that device, rbc sold about 15 million watches, generally 5 billion sale, not tred a total home run yet. pieper's munster, totally stand alone. when it really takes off. >> you're excited about the camera. flush against the back of the device? what do we see? >> i understand so much of the headlines and attention on that headphone jack. so much on twitter where that focus has been on. i am excited about the camera,

though, because it's such an important feature to consumers. it's so important for them. it's how they differentiate between products. you just had walt mossberg on. very nice things to say about samsung's cameras and their improvements. >> i'm wondering what it means i was pooped on by a pigeon before the show. maybe a samsung carry yier pige? >> fig ter good luck. >> happens to the best of them. when we come back, peter thiel reiterates support for dbt d donald trump saying he's exactly what this country needs in a moment.

. peter thiel writes -- trump taught us this year's most political lesson. trump's deny many about government incapacity is exactly what we need to move the party and country in a new direction and must stand for effective government not giving up on government. some calling it the best defense of a trump presidency written in a while. >> yes. had me scratching my head, though. the one thing, health care, he pointed out trump was supposedly in favor of effective

government, gone back and forth and been all over the field on. interesting point of view, nonetheless. >> and trump and clinton continue to make headlines. obviously, the apple event this afternoon. hpe tonight. a lot to watch. over to headquarters and "the half." carl, thanks so much. welcome to the "halftime report." i'm scott wapner. top trade, chipotle's new champion, bill ackman a 10% stake just about in the restaurant chain. is it enough to turn around the closely followed but troubled stock? with us for the hour today, joe terranova, josh brown, pete najarian, jon najarian along in a few moments, but, pete, can bill ackman turn things around for chipotle? >> i think they need an activist involved. i think the only thing i question right now for chipotle nows