bill ackman. not shied from battleground stocks. >> wouldn't expect him to pick a gray -- something very much in the news these days. >> unbelievable. should have been worthless to some extent as shareholders of this company and we'll be asking coming up in a few minutes. bill ackman will be joining closing bell momentarily. dow up 20 points. need a gain of 67 to hit an all-time high. >> aig earnings due up after the bell. >> even before talking with the analysts, don't miss a moment of that. >> and also ahead. twitter insiders can start selling their 480 million collective shares of the social blogger tomorrow. we're going to run through the history books and tell you how other social media stocks have fared when their so-called lockup periods expire. see if it may hold for twitter tomorrow. keep it here. stay tuned. weekdays are for rising to the challenge. they're the days to take care of business. when possibilities become reality. with centurylink as your trusted partner, our visionary cloud

ackman's strategies here. he says he is not shorting herbalife.ave two activist investors going to dub different directions. >> it makes for quite the saga and we are adding to its here. harvey pitt. thank you so much. >> good to be with you. coming up, steve wynn does not see eye to eye with george clooney. find out what they do not agree on, after this break. ♪ >> all right, you know, a guy like steve wynn does not become a billionaire casino owner without amassing a few stories along the way, right? down with anle set exclusive interview with steve fondestss some of his memories of las vegas. >> frank sinatra and dean martin working weekends and my job was to fly them to atlantic city on my plane and bring them back to l.a. on sunday night. for three years, frank and dean were my guest and stars in my 500-seat showroom. and they were cutting up and raising hell and i got to hang out with them. that it clips is everything else i got -- i have ever done. making a commercial with frank and dean. >> would you say they are the coolest guys you have

you had the chance to speak with ill ackman. ackman. >> i did just a few moments ago. bill ackman and i sat down, and for him, it is all about fannie and freddie chugging along and staying in business not just for the big time people but for taxpayers. think about what they have at stake. think about what these are for american culture. >> they should wind down the old fannie and freddie and rebirth them as new fannie and freddie, and they go back to the old business, which is just being a guarantor of mortgages, winding down the business of fixed income arbitrage, which is a business they never should have entered, and working with middle-class borrowers, and if they do that, the taxpayer makes about $400 billion. the taxpayers own about 79.9% of these companies. >> and bill ackman is not just here with big ideas. he was at the investment idea conference and a professional. hedge fund managers and others put their best ideas in, and there were business school students from columbia university. one is with me now. michael, you got the attention , joel greenblat, bill a

liz: i am sure bill ackman involved for legitimacy. backed out is more important good charlie: when you do a story about this, that doesn't mean he won't investigate. i'm not saying he will investigate. right now there are no subpoenas. i don't use the word investigation a less subpoenas are beginning to file or somebody. he is not exactly bashful about the issues that set. you try to get a comment out of this, they have never confirmed or denied, they never confirmed or denied they are looking at this. that does not mean they will not launch a formal thing tomorrow. liz: when did you tweet? charlie: about five minutes ago, 10 minutes ago. liz: it is down right now. charlie: of course. even on positive news, i kill companies. i would just tell people the stock is way up today for other reasons, there's a lot of noise going on from herbalife. if there is an investigation, it will start today may be. but it didn't start when those reports were first coming out. there is no formal investigation. it is the same thing. they are talking to w

i will say bill ackman is right up there in trying to change it.hink are responsible for it, i don't think they're bad people, but, you know, they also have their agendas like marty lipman that gets tremendous ease from these guys he tries to keep in trench. he's not a bad person. it's the old thing the enemy of my enemy is my friend. i don't need the money anymore. i'm doing this and i know maybe it sounds corny to you because i really think that this country could still be as great as germany. i grew up on the streets of queens and it's done aiate thing for me and i'm trying to -- i think my legacy is to try to change the situation. i don't give a damn too much who like mess or doesn't like me as i'm doing it. i guess warren is a little right about that. if i really cared about being in the social order or being in the establishment, you know, i wouldn't do what i do. but the point is -- >> i'm reminded -- i'm reminded, i guess, of that famous saying of yours, there's war and then there's peace. there's war again and peace again as well. i know y

ackman getting a 38% deal on buying allergan. remember, the shares are up 35% just over the course of the past three months. so, again, nice moves here. again, dow jones citing sources that ackman has gotten 38% on allergan. back to you. >> if this does smell awful, i realize he gets all the legal team behind him and everything, they've crossed the tees and dotted the eyes and all the rest of that, but his biggest trait ever happens to be on trade where he's part of one company that's going acquire the other company and he starts acquiring huge mass amounts, his largest ever? god, does that stink a little? a little bit? >> amen. yes, yes. >> yes, it does. >> and it's legal. there's nothing wrong with it but it doesn't pass the sniff test. >> what's interesting. he's up 18% this year, ackman, at least as of the end of april and everyone was so earthquake to right his obituary last year between jcpenney and herbalife. >> will photos be the next battleground for social media, and is the 3-d printing trade over? reporting earnings th

then low, bill ackman. -- been loeb, bill ackman. they have added three seats.members or vote anyone out. they just added three more. how did that change things? >> from an activist in point, it is always better to have this to replace what you want. did speak to some people around the situation who told me at the end of the day and low -- loeb will have a powerful position. is he agreeing to that? then he has leverage. how excepting is he going to be? i'm sure as soon as we can know about it we will. thank you so much. thank you so much. is there one of the next goal million for relist -- the next gold mine for real estate investors? hiking prices when it comes to warehouses. later on, the margarita is the number one cocktail in the usa with 185,000 consumed every hour. goodness. be crucial ingredient may missing from your margarita. you can find out which one it is later on "street smart" on the cinco de mayo. ♪ >> collett the great american marijuana real estate boom. growers are clamoring to find space to grow their product. paul eisenberg says you need to b

don't forget bill ackman is involved in this.talking about 46, $47 billion worth of a potential merger. you're talking about botox, something that continues to be very popular and is growing. so this'll be a story that we continue to cover. both stocks down about 1%. liz? liz: well, you've got to give mr. ackman credit for being creative. thank you very much, nicole. closing bell ringing in about 48 minutes. what are the best cities in america to start a new business? and what can the rest of america learn from those states and cities if? we're putting that question and many others to labor secretary tom perez. we'll ask him for the trick of great job creation for each and every state. we're welcoming tom perez. and who doesn't want a home-cooked meal without any of the normal hassles, actually going out and buying the ingredients? blue apron has the solution. it's attracting some bigtime investment dollars and a growing list of budding chefs who are very busy, right? we all have full-time jobs and running around with the kids, e

michael, you got the attention of jewel gleam brat -- joel greenblat, bill ackman, and others.omorrow, a five-year plan. >> it is timely. >> they have not been doing very well now, have they? >> they have done quite well. plan, theal five-year thing that people do not recognize the came out in 2010, they could not have foreseen the 2011 european crisis, so obviously, targets were missed, but he has done a great job with chrysler in north america and a great job of growing the maserati business, and i believe that the top line earnings do not fully reflect the total earnings power of the business. >> why is that, because fiat was a big guy, but if you look at european auto sales, they suffered, and they do not appear they are going to be getting any better, so where do you see the big opportunity? outside exposure, and italy has been one of the most hit markets, but the reason it happened was because of the elite lack of credit availability for a number of years, -- the complete lack of credit availability. i think it will drive our recovery in the italian market. >> do you thin

that doesn't mean bill ackman did this i'm not saying if he did this. i don't know who did this.ckman to see if he wants to comment on this clearly the company believes it has been spied upon by outside forces that is not the government. we put a call into herbalife because we got this independently confirmed from outside sources. the company has no comment at this time but this information is solid. they did find this over the year. we don't know the scope and the magnitude. but you know, finding one is, kind of crazy enough. guys, back to you. liz: charlie gasparino on herbalife, bugs found in its l.a. headquarters. more on this for sure. adam: where is csi when you have the business network. charlie, thank you. >>> shinola known for its detroit-built watches is making announcement. they open an in house factory for leather goods and continue to expand their american-made brand. liz: joining us "first on fox business" interview ahead of their big factory opening the shinola ceo. right here we have the products. of course the leather watch bonds is what you're talking about. tal

the board of board of allergan, thebox to maker firing back at ackman. saying the board essentially violated its fiduciary duties in rejecting the takeover offer from valeant and suggesting that david pyatt, allergan's ceo, had a conflict of interest in being involved in elvis evaluating the offer in the first place. allergan firing back saying the board of directors is aware of its fiduciary duty to its stock quloerlds and is being advised and take issue with ackman's tactics with the blatant attempt to isolate david pyatt who has the best interests of all stockholders. they do add that the entire board is open to all options that will significantly enhance the long-term value of allergan for all stockholders. so this war of words continues. of course ackman holds about a 10% stake in allergan. back to you. >> scott cohn, thanks. astrazeneca rejecting what pfizer calls its final offer to buy the drug maker. that after pfizer sweetened its bid to $110 billion. is a hostile takeover on the table? >> the reason you see it not really trade then and astrazen

i don't believe they can include the 10%, owned by ackman.an himself, yesterday hearing from a number of people he did have a conversation with the ceo -- >> i didn't know that. >> of allergan, i believe it was cordial, not particularly friendly, i don't know that there was any great progress made here at all. in fact, i'm hearing perhaps some vague threats made, but i have not had a chance. >> perfect. >> to follow up with mr. ackman. >> one of the great executives and hedge fund sgli to understand what may have been discussed. as a 10% holder of allergan's stock he has every right to talk to the company's chairman and ceo. >> company has been extraordinarily good. number of drug initiatives. fabulous extension in the eye care people don't talk about. op though logical genius with botox. >> you're in favor, you have a favorable disposition against allergan. >> came on the show at 85, after the stock came down from 120, he said do not worry about our patent problems with restasis. stock goes from 80 to 120. capital coming out today saying --

icahn or ackman, what they say they have their own motives at end of the day and they're not doing goodr the company at all. maybe the stock price is not performing next six months or a year but for the long-term health of the company, but for the business the company is running whether making computers or making herbal supplements they're not focused on good of doing business at the end of the a canadian pacific shareholder who watched stock price triple from the time ackman got in and started selling you might not think that. if you're a hess shareholder who saw the stock to up 65% before elliot got involved, you might not feel that way. there is attempt to portray activists as short termers. that is not true at all. many hold for years and years. some hold for six and seven years. you have data that shows their impact even five years later, even if they're out is positive for shareholders. >> sometimes it turns personal like with regards to herbalife for example. two very wealthy men fighting it out on twitter trying to get on television. >> the television -- cheryl: that they don't

is there a change running on the coattails of bill ackman? >> anytime you have a change in the situation, you will have those who will get in there and look around for a pop in the deal. i don't know how much it would have changed the long-term shareholder mix of allegan. -- allergan. there is not much to change this viewpoint of allergan outside of this story with ackman. they're just trying to make the case much more loudly than before. same thing with astrazeneca. they are pounding the table every day saying, look at this great research and development we have. two different clinical trials in the last week or so. they've got to tell their story. to be takeover targets to do the same thing as well. >> thank you for covering pharmaceuticals here on bloomberg. goingre is a buyout through in the packaged food injury. olivia sterns has that for us for -- for us. tell us about the deal. >> we are talking about packaged meat, breakfast meat. do you eat jim eating sausages? >> of course. >> we are talking those and ballpark and sara lee. they're

he back to bill ackman. he has been in the same position for three years. >> bob, tell me, with the companies that you work with, specifically, what did you do to ward them off? >> first of all, you start with honest -- and i mean honest, not -- look at yourself, from the point of view of an activist investor. maybe bring in not an investment banker in a traditional sense, but a wall street person who would say that this is what they would think. what are your responses to those issues? if you want to engage with your than i am in favor of investment for the long term. >> what about pepsico? we just spent a whole day with them last week. nelson phelps is after them to split up the company. have they done the right thing? they need to make the case that frito-lay is something that is important and that it fits together with what they are doing on the beverage side. it is different from fortune brands. what was the synergy? as a golfer there is synergy between all call and golf, but not in the business sense.

bill ackman, how does he even have the time?4/7. >> when is that conversation going to happen? >> we'll have that interview later this afternoon. >> you are busy this weekend. the president taking a jab at the rollout of the affordable care act. >> we rollout healthcare.gov. that could have gone better. in 2008 my slogan was "yes we can." in 2013 it was "control, alt, delete." >> what got the biggest chuckle? >> "orange is the new black." >> these days the house republicans actually give john boehner a harder time that they give me. which means orange really is the new black. >> i don't know who wrote that joke. he took the doors off. he had to firms on either side of him. joel mchale was awesome. me whyhatzker just asked i had a good time. beautiful parties and black tie, that is not the definition of really fun. it corrects -- >> one of the things that works in the president's favor is he is a pop-culture junkie. he gets the advanced copy of game of thrones. he is up-to-date on his tv watching. a bigger success, the bloomberg

bill ackman, with a front-row seat.rence fink who asked repeatedly if we liked his cool, colorful spotted tie, and yes, larry, we do. and appaloosa management's david temperaturer who earned a eye-pope 3.5 billion last year. robin hood investor peter chironen and his family were also in attendance. so a big night when wall street gives back. >>> let's so what's on "street signs." >> sue, housing affordable around the nation is an interesting topic. we're going to bring you the cold, hard facts. not one, but two mystery charts for you today, and as you're preparing to take out a mortgage, what if your lender gave you a basic financial literacy test first? maybe not such a crazy idea. wee debate that, and all those things at the top of the hour. we'll be right back right after this. we're moving our company to new york state. the numbers are impressive. over 400,000 new private sector jobs... making new york state number two in the nation in new private sector job creation... with 10 regional development strategies to fit

bill ackman is with us today.iscuss his controversial move to team up with valiant to buy botox maker allergan. >>> also all eyes will be on aig's earnings after the bell, and we'll have those results broken down even before they speak toss analysts. >>> and we could wait for this. joined by one of the owners of kentucky derby winner california chrome. >> i love this story. steve cobert will be with us, it starts at the top of the hour on "closing bell." see you then. tdd#: 1-800-345-2550 trading inspires your life. tdd#: 1-800-345-2550 life inspires your trading. tdd#: 1-800-345-2550 where others see fads... tdd#: 1-800-345-2550 ...you see opportunities. tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 turn inspiration into action. tdd#: 1-800-345-2550 we have intuitive platforms tdd#: 1-800-345-2550 to help you discover what's trending. tdd#: 1-800-345-2550 and seasoned market experts to help sharpen your instincts. tdd#: 1-800-345-2550 so you can take charge tdd#: 1-800-345-2550 of your t

and whether ackman behind them, helping them do it or whatever, valeant has to do deals. think that's, to us, what's most interesting about the short idea. >> let's talk green mountain. i'm not sure people know you are short green mountain. >> we are. >> why? >> we're also short sodastream. >> okay. >> so the reason is, and we're long starbucks, for example, against it in our hedge fund. basically, green mountain's core business has been slowing for a while. there've been margin issues where coffee prices have offset that. but the core business has been, at this time, slowing. they had to do a transformational deal. they've done it. i'm not so sure that cold -- the single-serve cold products are the next wave. i mean, i have carbonated single-serve branded cold beverages in my refrigerator in cans. you know, the whole idea of making -- it's not the same as coffee, which is better served fresh. we all know that. but a can of coke lasts for pretty much a long, long time. and so, that market is much smaller than people think. but more importantly, again, like the valeant, we

. >>> bill ackman is planning to tap the public market for his next investment venture.manager is seeking to raise billions of dollars for a closed-end fund that could list on the london stock exchange as soon as this summer. ackman was reportedly in london last month to drum up support among european investors. raising money separate from pershing square could let ackman lock up news cash that's not subject to redemption request from investors. >>> the hit book is credited with bringing economics to the mainstream. the duo behind "freakonomics" gained popularity during sometimes controversial conclusions with an economic twist. their latest book is called "think like a freak." earlier on this channel, the co-author stressed the importance of skepticism when financial advice comes your way. >> the first important step is to figure out who has what skin in the game. i will say this, we talk about the ability of experts to predict the future, whether the future is geopolitical or financial. if you look at, let's say, stock picking advice, specifically, you find that the ex

celebrities and water together -- wall street together to raise money for shelters and job services, bill ackmanof pershing square, jeff bezos from amazon. and the tennis legend, in bad boy john mcenroe, putting on a nice smile. they raised $30 million including for the american dream fund to help new immigrants struggling in poverty. wall street giving back. >> 60 million there, 50 million here, adding up to big money. i'm susie gharib, thank you for joining us. >> and i'm tyler mathisen, thank you for joining us, we'll see you right here tomorrow night. >> the following kqed production was produced in high definition. [ ♪music ] >> when amy x. neuburg discovered electronics, she never looked back. and the musical places she goes to will surprise you. >> amy x. neuburg: i just fell in love with the sound of the electronics. not only are you creating all i mean, music, you're creating all new sound. >> the work of ceramicist shuji ikeda requires patience. this kiln will burn for seven days. >> shuji ikeda: through my work i want to communicate without language. >> and the floral work of stanlee

the $46 billion offer by bill ackman and canada's valeant to take over allergan. the business model create as risk for allergan shareholders. >> tim geithner giving straight answers to bail out the nation's banks. it is all covered in his new book," stress test, reflections on financial crises" and that book is out today. andrew ross sorkin spoke at length with the treasury secretary. it was a pretty wide ranging one. >> reporter: it was. thank you for that. i di sit down with him ahead of the publication of this book "stress test." timothy geithner a polarizing figure in the country because he became face of the bailout, t.a.r.p. program and i started our discussion by asking about a criticism that senator elizabeth warren has made repeatedly about his efforts to focus what she believes are more on wall street than on homeowners. take a listen. >> if you want to protect the average person from mass unemployment, you have to make sure the system, the financial system doesn't collapse. you have to keep the lights on. what's the best way to think about it. you're on

celebrities and water together -- wall street together to raise money for shelters and job services, bill ackmanof pershing square, jeff bezos from amazon. and the tennis legend, in bad boy john mcenroe, putting on a nice smile. they raised $30 million including for the american dream fund to help new immigrants struggling in poverty. wall street giving back. >> 60 million there, 50 million here, adding up to big money. i'm susie gharib, thank you for joining us. >> and i'm tyler mathisen, thank you for joining us, we'll see you right here tomorrow night. >>> tonight on "revolutionaries" -- >> earlier in my career i used to say in 50 years everybody that doesn't play video games will be dead. so we're almost to that point. >> trip hawkins is a pioneer of computer games. as the founder of the legendary companies 3do and electronic arts, he demonstrated the vision and creativity to capture a global audience. john markoff talked to hawkins about his early career, business strategy and path to becoming a revolutionary. major funding for "revolutionaries" is provided by the intel >>> so trip has been

they will possibly see more on the table from ackman and valiant. between 180 and 190 is what the word on the street is. there is nothing that is going to afford them, other than the shareholders putting pressure on the board. >> they have built their reputation as a disciplined acquire. >> the company has been that there could be tax benefit that will lead you to reevaluate the price because you will factor in those costs. >> they had a big sale. >> where is this cash coming from? the sale was also because they wanted to remove one of the antitrust concerns that was around this deal. antitrustore of an thing. >> we have a presentation going on. thank you to cristina alesci. >> what happens if the market blows through your target? where is the s&p 500 right now? 1910. it is a high-class problem. what do you think is going to happen? >> my forecast is that the s&p 500 will rise towards 2100 at the end of 2015. 2200 at the end of 2016. the trajectory is higher. is around 1900 and the market is trading around fair value. the market is trading around 17

ackman put up -- bill ackman built up a position in allergan.ome problems with pfizer trying to bright as her zeneca in the ukp at all of these merger deals to talk about. we will see more from pfizer and astrazeneca as the week goes on. let's move to the ukraine. a criminal farce was held in chaos. now some semblance of legitimacy after some sort of referendum. how vladimir putin adapt and adjust his message. she is author of the limits of partnership, u.s. russian relationships in the 21st century. good morning. what has changed over the weekend for vladimir putin? think vladimir putin can say they voted for self-rule or independence. he said we have to have a civilized implementation of the vote. what changes for him as he can go back to the u.s. and europeans and current ukrainian government and sale you guys have to sit down, you have to include these people in roundtable talks. we have to move forward to a federal solution in the ukraine. it has given him a little time. not to intervene anymore. >> we saw emerge three over the weekend of m

bill ackman approach in this recent transaction between aller began and valeant.s coming. i wanted to give your thoughts on the tactic from a policy perspective and what you think it means to the markets. >> yeah. well, i'm sure you have it well lawyered. if i bought that stock because i learned that somebody might be doing something and i learned it in certain ways, i would be in trouble. but if they joined forces, certainly a company that has in my making a bit is entitled to buy some stock. and how big a group. maybe you could form a group of the whole hedge fund community and have them all by stock for a couple of weeks. if they're part of the group, maybe it doesn't count. i would say if that should be the case, it probably should be changed. >> joe? >> thanks, beck. all three of these great gentlemen i would like to just hear them opine quickly on this. tomas pickity. he's a french elitist academic with the hottest book on economics right now. basically, i'm sure you gentlemen have read about it. it talks about capitalism and the down side in terms of income

is bill ackman involved? >> he is basically underwriting the bid in part for valkeant.and this is one of the first times we have seen an activist investor really play a big role. >> it's up 21%. this is not like pfizer where it is a nuance of nicholas -- of nickels and dimes. >> it's an indication they can go further. >> we will have more on this but right now to company news. >> google is getting into the driverless car business. sergei brin says google as an idea to transport passengers at the push of barton. the cars of bottle -- the cars have no gas pedal and they will test these cars sometime next year. on the ways may be general motors after investigators are investigating potential flaws in 2000 jim vehicles. among the complaints is the unexpected failure of automatic printing and headlights on gm cars. backly, pimco is getting -- trying to restore some of its lost glory. mccully.inging in paul le pimco is trying to bolster its management. >> this is a huge deal. this guy is influential as an economist. he has influence at jackson hole. oftenyellen quotes them an

they will have a referendum fake annual meeting. >> fake annual meeting. >> ackman has called for.to mean much of anything. valeant has given them the written opportunity. new bid 5830 and then the cvr of darpin, a quick spin on darpin, this drug, jeffreys saying that there's a less than 50% chance it gets approved, allergan rerunning a trial, next update in a few months. >> for macular. >> yes. >> be careful. >> need another phase two. >> i told the ceo, has not taken the gloves up until now because they've a gent, it's a long shot, crowded category and len has this to himself right now with the -- he will' say lieu zen is. conceivably returning as much as 25 bucks a share. not getting the market at least according to when jefferys analysts until greers now and $20 billion in sales, wow. very aggressive. that's that. >> way too aggressive. >> valeant clearly the opportunity to respond to allergan from yesterday. you may remember allergan's assertion, for example, on any number of things including valeant's tax rates saying recent space of acquisitions and restructuring appears to

ackman talked about private mortgage insurers not able to replace the gses.m not sure if that was your question or not. he has a specific proposal he unveiled. >> it's a longer discussion. >> yeah. >> i don't get how the the government is going to give those guys any money. i could be wrong about that. thanks, kate. yankee candle. executive chairman comes up next. next. ♪ "first day of my life" by bright eyes ♪ you're not just looking for a house. you're looking for a place for your life to happen. >>> welcome back to "squawk box" this morning. merck is selling its u.s. consumer brand to germany bayer. in the u.s. we call it bayer. $14.2 billion. it includes dr. scholl's, claritin, coppertone. bayer is the second largest global seller. and general electric now facing some resistance, continued resistance in an effort to buy the energy french's business alstom. president hollande said the number is not good enough. i like this guy. a little bit of capitalism in a socialist country. and from the day's lonely economic report, economists expecting the march trade

bill ackman, david einhorn, jeff bezos. congressman eric k cantor. the event raised, get this, 5 $.8 million and counting in one night. can you believe that? the tally was delivered by an amazon drone that flew through the room and arrived on stage carrying the results on a piece of paper. last year the event generated more than $80 million. >> who are you talking to? >> sara eisen. we were chitchatting away. >> that was a voyeuristic shot. >> there's a vision in white and orange. >> did you stay long enough for -- where you have the electronic pledge thing? >> i did not stay that long. also i missed bruno mars. >> you got out of there unscathed. >> i write my checks to them. >> bruno mars was there. sting played last night. >> i sat next to you a couple weeks ago. you were working the room. >> penelope came, too. >> john oliver performed. >> they raised $59 million, $80 million last year. do you think they'll donate enough overnight? >> there will be some people -- >> the 11th hour. >> did you see jones speak? >> i did not. >> i think i left before

let's talk a little bit about what bill ackman has been doing recently.test move really takes a look at some of the inversions. we have seen this huge wave of m&a. >> within the framework of what he ackman did, it needs more exposure. >> you're not a fan of this? >> no, no, no. the notion of coming in and buying stock, buying it within a 10-day window, doing derivatives, you know, it's not fair. a year or two from now the world will change. >> do you think that will change the window? >> how you report derivatives. how the thresholds have changed. i don't have a problem in shrinking it. you have one day to file every pun percent delta change. going back to the big picture, growth. how do we grow in a global marketplace. many of them are going back to the brooms saying, look, there are synergistic benefits whether it's revenues. the buyer will treat the market more friendly. >> if it's a stock deal they will pounce and beat up the stock like comcast. they will hit it not necessarily the first day. they will say, oh, my gosh, what am i doing here. on a long

bill ackman try to tap the market by listing as early as this summer.t is likely to take place in london where he has been visiting to drum up support from european investors. and costco a slight jump in earnings last quarter amid higher membership even better store traffic. the bottom line failed expectations by couple of cents. the retailer announced plans to open at least eight locations by the end of the year. and the growth and tablet sales expected to suffer huge drop this year as consumers hold onto their devices for longer. longer. new forecast see a year on year rise in sales of 12%, much lower than the 52% jump last year. that is the latest from the fox business network giving you the power to prosper. melissa: trying to raise the bar hoping to become the first ed drug we sold over-the-counter. the makers and now racing to get fda approval before the popular drug loses patent protection in three years. but can cialis be safe is sold? no doubt the lawsuit will come in flood. i want to get his professional medical opinion because the problem her

from microsoft stock, quietly, behind the scenes, to a big ackman.approaches. >> where do you see -- when you take a look at the different sectors where is activism the most active? i would say in the small to mid cap sector. companies still have a lot of cash on the balance sheet. given the capital they have to put to work, they can be far more effective in owning fairly significant position of those companies and having influence with the board and the management. >> so bethany, activism has been a long for a long time. but the 24/7 news flow, activism is pushed in what i believe is a gray area using a lot of these medias as a way to sort of promote the positions they're in. are we gets into areas a little dangerous do you think? >> i think of it two ways. one way, yes. i have the instinct of wait. on the flip side, it's not as if mutual fund managers haven't been out there promoting for ages. so this is just the new version of that. i'm not sure it's really any different. it feels different but i'm not sure it is. >> but this does feel sort of the

don't forget larry robbins and then bill ackman later. guys? >> looking forward to it very much. >>> bob nardelli, one of the most successful american executives of you are our time. general electric, home depot, chrysler among the companies. we have a lot on the agenda, including american companies leaving the u.s. to avoid paying taxes, solving gm's problems, and who should be leading america's retailers? bob nardelli is with es, he's in the house and will join us after a very quick break. lots to talk about. we're back in a moment on "power lunch." how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 independent research providers into a single score that's weighted based on how accurate they've been in the past. i'm howard spielberg of fidelity investments. the equity summary score is one more innovative reason serious investors are choosing fidelity. call or click to open your fidelity account today. cozy or cool? "meow" or "woof"? exactly the way you want it ... until boom, it's bedtime! your

there's been rumors that sanofi or j & j, and allergan and bill ackman have teamed up together, and illergan is looking for their own alternative strategy. so i think there will be more m & a in this space. who will be next will always be the big question, but i think pfizer probably will come back next week, and we'll hear more from them. >> tim, what about the biotech industry? all of these deals we've been seeing for the past month have involved big special pharma, but, you notice biotech's valuations were so high, maybe potential buyers are -- now the valuations have come down, do you see it coming back to biotech? >> i do. i do. i think biotech is a space that's sort of been a darling in health care. i think that biotech has benefited from not only very, very strong pricing, but innovation, and they haven't really dealt with future potential large cliffs, unlike the large-cap pharma. so i think in biotech, i wouldn't foresee a major deal this year, but potential over the next couple years, you probably will start to see that industry start to consolidate as well. >> tony -- i mea

making some serious cash despite an ongoing fight with bill ackman, herbalife's ceo michael johnson.n week after exercising options. reports say he purchased a quarter of a million shares and a price of under $8 each. he then sold them right away for $of 60 apiece making millions in the process. very interesting. and making money from prospective -- perspective college students, campus tours for just under $44,000. what a deal no matter where they're located. they can hit up to eight campuses in one weekend. the company says it's all about helping students make the best, most informed decision at a rock bottom price. all right, airlinessing are hopes to fly away from showing you the real price for flights. a new bill would allow carriers to only advertise the base fare, that means they could hide taxes and fees in the fine print. the bill currently has the backing of='l 33 lawmakers. opponents call it dishonest. andrew and james, what do you think about this? >> obviously, i think it's dishonest, but i think it'd be great for the air lines. if you see a slight $19 and you don't real

bill ackman went directly to the shareholders about his $47 billion takeover bit with vailian. now allergan is responding in part -- this is obviously a self-serving exercise. so tyler, that battle is heating up. >>> that will do it for this edition of "power lunch." >>> "street signs" begins right now. see you tomorrow. >>> is housing really all that affordable? we hear it all the time these days. we're going to take a real dive into real estate, ahead. >>> plus why taxes tell the tale of where everybody seems to be movable, an interesting debate whether you should be required to take a simple test before being given a loan, while i got a little testy on politics this morning. okay, mandy, it was a rant. >> i can't wait to see it all over again. >>> can you smell the complacency in the air? >> i wish it was bacon. >>> we have the vix, the fear index. it has collapsed near one-year lows. you 2014, holding on to mild gains. i forgot to mention we have record highs, with the s&p 500 hitting 1900 for the first time ever. we kissed it, we're just off the -- there's a real but if yo

you obviously have been covering this closely, but amazon doesn't have a carl icahn or bill ackman figure charging in and saying why aren't you profitability? so i think what these smaller guys have to be most concerned about is amazon and amazon supply they don't have to be concerned about profitability in the short term? >> wouldn't it be nice for every -- but mind you, the shares are down nearly 30% from the january highs, not just down today, but suffering in that momo trade. claire, we have to leave it there, but thank you for joining us. >> thank you for having me. >> >>> we're coming up after the break with a hot debate about the gas tax. it's not been increased in 20 years. >> i don't like taxes, but i also don't like potholes, but the good thing, i don't drive, but this i believe is you driving. >> in car in my jeep wrangler, please wave in you're headed towards me. i can't tell you how much of road stinks. be a name and not a number? scottrade. ron: i'm never alone with scottrade. i can always call or stop by my local office. they're nearby and ready to help. so when i have ques

in walks bill ackman. >> the only good rollup is grape. >> yeah. >> by the way, herb, can we pan outbit on herb's shot? what's that mangy dog over your right shoulder? >> i was wondering the same thing. whoops. >> oh! my eyes are stinging! my eyes are stinging! oh! >> i'll tell you one thing, herb. >> i'm working this thing. >> it took me a second to realize those were flesh-colored pants. let me just say. >> let me tell you something. >> go back. go back. what's that dog in the photograph? what is that? who is that? is that a chow? >> that is my dog, gatsby, who's actually over to my left a little bit. >> my dog's name is carewraway. maybe we'll get together and throw a party. >> i can't run this thing. >> is it safe to look? it's safe to look. okay. >> you're not supposed to see the short pants, guys, but i will show you this one thing before we go. that is the beautiful view. >> don't make us -- don't make us cry. that's so mean. that was a mean and low blow. sboo what the heck is the street paying you? and you came in in poor pants. >> i'll see you again next week in the studio.

how about bill ackman, who will now start canvassing allergan share hoholders -- maybe he's picked uphone and called you. >> i haven't spoken to him either. >> do you anticipate speaking to either gentleman? >> i would expect that to happen at some point. >> it's an interesting deal at an interesting time in the markets. what's your view right now -- if you take the position that there's money to be made in almost every asset class, that says to me that jacob gottlieb is bullish on stocks right now. is that fair or not? >> well, we're generally pretty constructive on the markets. but the way that our funds work are based on sector expertise, and we don't take very directional bets. so what we're really looking for is stock selection, and separating companies that are going to do better versus companies that are going to do worse. it's a simple strategy. it's been around for a long time. and it generally works. and what you need is dispersion or a lack of correlation. so we're seeing, after several years of very high correlation of securities, that coming down. so we think that that au

bill ackman. it is an all-star lineup.here hedge funds are giving chop up and ground down. up and groundpped down. when david einhorn first spoke out years ago, when he takes that stage today, the moment he mentions the company, watch your screen. it will be moving. >> we will be watching you with all of your fabulous interviews. stephanie ruhle. thank you so much. do you want to know your own professional basketball team? you may have a chance. what it takes to buy the team. ♪ >> you are watching "in the loop." the l.a. clippers will be up for sale if the nba gets its way. what does it actually takes to become the next owner of l.a.'s pro basketball team? jon erlichman joins us in los angeles. thanks for being here. what is it going to take? will they be able to force the trust to sell the same? >> that will be the first big question. i think they will. i think it will be a mess and take a lot of time. i think the suitors lining up may just want to wait a little while. i think adding on the team is going to be like trying

later today we will hear from icahn's sparring partner, bill ackman."halftime report" is straight ahead. see you in a few. >> you have a big day ahead. thanks, scott. >>> from beavis and b"beavis a, taking on a completely different show, the appropriately titled "silicon valley." take a listen. >> you guys are arguing what met for to use to agree with each other. this is the inefficiency i'm trying to eliminate. my suggestions could help you beat me in this argument. do you see the irony there? >> blllllll. >> all right. i can't argue with this. >> mike judge, the executive producer of silicon valley. i thought you were laughing at the clip even though you've seen it 100 times. >> i've seen it way too many times and you take a long break and don't see it, i don't know. the show is so funny, what can i say? >> it really is. and now renewed for season two after a handful of episodes, you must feel like you've nailed some of it, i'm guessing? >> yes. we worked so hard on it for so long and nobody's seeing it. it's been nice to see people, especially peopl

years out of harvard business school and sharing the stage with the likes of david tepper and bill ackmanunder and chief investment officer of core investment presented on monday, it is all about india. the world's second most populous nation. is anotherand so india enthusiast, portfolio manager of a fund with $4 billion invested outside the u.s.. what is the appeal of india right now? why don't we start there. a lot of folks are watching who have heard about the tremendous prospect in india. no also there has been shortage of disappointments. why now? been aas always challenging environment. there is a host of companies. if you look at the number of listed businesses, 5000, more than you find -- >> 5000? >> more than any other market in the world. >> are they all small caps? zero tohey range from several billion market cap. we can find options to do bottoms up research with them that. that is what we are excited about. doit is important to bottom-up research. you do not necessarily want to look at india as a macro story and just buy an index. >> it is a mix of the two, royce is a bottoms

bill ackman has been a little busy. they tried to buy allergan. the maker of botox.shing gives bloomberg the secret to his playbook. >> through my career the vast majority of particularly our most successful investments have been ones that are controversial in one way or another. activism is a shareholder that behaves like an owner. it is not hostile to the shareholders of these companies. it is hostile because it is not something that is meant of the target company has requested. on ank to decide to take , there-old pyramid game is some boldness associated with that. it is a bold call that we did it. of a company stock called general growth. people do not make money or had not been until that point, making money buying the stock of a group company. it has been 15 times profit of the -- multiple of the original investment. businesses that are dominant companies, and the way we make these decisions as we do our analysis and we look for company you can buy at a deep discount. if the discount is the management issue or cost structure or -- we work to solve the problem.

. >> bill valeant and bill ackman be successful here? tough to say.ving the obstacles, the things that could get in the way of a deal, for example, selling the rights to a skincare company that you have presented antitrust risks. they are trying to remove obstacles. the problem here is what allergan is telling shareholders about valeant, and they are really trash talking the company, saying they are overvaluing their organic growth targets, and also saying the company has no experience selling and global product, so there is going to be a bit of the war of words here, betty, before this is all said and done. >> has allergan responded at all ? >> yesterday, they came out with a strongly worded statement saying basically that valiant is not a company that is performing well, pacific league pointing out two prior acquisitions they say have not performed well, basically calling the company out, really on creating shareholder value. >> cristina alesci, thank you so much. cristina alesci, our deals reporter. this hour,shaking this guy -- hip-hop star 50 cen

includingcoming up, bill ackman, michael novogratz -- and do not you worry about the -- don't you worryst of limes. we will save your margarita. ♪ >> welcome back, everybody. you are watching "market makers" on bloomberg television. i am erik schatzker. and i, along with the rest of the margarita loving world, have a sour taste in my mouth. the cost of limes has skyrocketed. you may ask, what to do on the cinco de mayo with cocktail hour approaching. joining me, a mixologist and the founder of creative cocktail consultants. it is always dangerous to drink before noon, especially on a week day. but that is what we're going to do. tell me how to break the -- the the price squeeze on limes. >> first of all, happy zynga billing -- cinco de mayo. >> happy cinco de mayo. >> and a lot of people do not know this -- it is your birthday, too. >> it is our birthday. -- my birthday. 5000ericans read -- drink margaritas per hour. >> what? >> they do. ok, we will take some fresh squeezed, of course, we used -- fresh squeezed grapefruit juice. ruby red is in season right now. the mexicanto avoid citru

. >>> and bill ackman is reportedly trying to raise billions of dollars for a closed-end fund. the fund could list on the london stock exchange as soon as this summer. that moves let's him raise money not subject to redemption requests. i used to sell these things. they trade on -- they don't trade based on that asset value. they trade based on supply and demand. we had something that was hot. marty came up with a closed-end fund. it can go up or down. >> it's animal spirits, what somebody else will pay for your portion. >> the net asset value may move one way or another. it's not like a mutual fund. it's priced on nav every day. this trades in the marketplace. >> like a stock. >> like a stock. yes, like a stock. it can double or go down 50% and not necessarily based on the underlying -- >> ackman is interesting. he's tried some very innovative techniques. you said you've done this before but this is -- between this and what he's doing with valeant are some different ways of operating as an activist. >> he's a smart guy. that's for sure. he's always business. >> he is. carl ica