bill ackman has been avoiding public outcries against herbalife.l he had to do was keep his mouth shut, charlie. >> should point out he was the big short seller, beth the stock would go down, it did go down when he announced the short over a year ago and went back up as herbalife attracted carl icahn and dan lobe. now going back to the point that right now after a long hiatus, i would say almost a-year hiatus, ackman appears to be back in the black, so to speak, he is now his short position now that the stock has gone down to about $45 a share or $48 a share is now, if you just put through simple math, is now positive. ackman converted some of his short, a straight short where you borrow the shares. liz: you have to change positions. >> sell it. liz: he is using derivitives and call options, essentially to hedge this, so it protects him from the downside risk of a straight short, of borrowing the shares, selling it, and having to replace it theoretically. he's doing a derivitive play that protects him from the downside. it does look like his, his,

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helping to bridge the digital divide. >>> bill ackman making news today.rbalife for once. kate kelly joins us with the story. >> we like to diversify our portfolio of stories. >> so does he. >> he's looking to diversify his capital base after vowing to do so for years, he announced plans in europe to float shares there in a public offering. starting in mid-october the 13th to be precise, pershing square holdings, overseas offchute of the hedge fund in new york that has about $2.9 billion in management will begin trading on the our he rownext amsterdam. he expects to raise about $5 billion in day one. ackman who manages more than $14 billion overall, also says the deal will afford him a chance to put more money into activist situations, on a longer term basis. it could hardly fall at a more opportune time. through august according to end bestry reports pershing square is up making it one of the top hedge funds this year among any strategy. not just the scores like allergen working for it. his best performer is platform specialty products, specialty product

coming up, billionaire bill ackman is hoping to raise $2 million through an amsterdam listing. we'll bring you all the details. >>> as fashion fever hits london, we go shopping for the luxury stocks to add glitz to your portfolio. with. >> merger monday in full swing, we speak to one of the top deal makers. jeffrey solomon, cowen and company's ceo, find out what he thinks is next for the pipeline. >>> you're watching "worldwide exchange." bringing you business news from around the globe. >>> welcome to the show this morning. but more importantly, well some seema mody to "worldwide exchange." >> how am i doing this morning? >> so far so good. i hope people at home agree. we'll be talking mna in a bit, but looking ahead to the fed meeting on wednesday. >> that could have an impact on the markets. interestingly enough, if you look at the u.s. pre-market trade, the arrows are currently pointing down. the s&p 500 is down four points, the dow jones down 11 markets. and the nasdaq had and interesting week of trade for apple down four points. on that note, we'll dive into the market to

ackman. mr. ackman still believes this is the great pyramid scheme of our time. you think what?an's piece on multilevel marketing he did when he ran gotham and he was long prepaid legal, you could cut and paste herbalife and put it back into his prepaid legal fees and he would be long if he were running gotham. we put one of our traders into the network of herbalife and he became a distributor. for us to understand exactly how those meetings work, how the distribution centers work, what the selling tactics were -- i believe it's a real business. i believe the ftc won't sue them. i believe it's not a ponzi scheme. but, you know, we just aren't involved now. i would always bet on dan loeb over bill ackman any day. >> wow. >> really? because? >> i've known dan a long time. i don't find him to be hyperbolic. ackman is a great invest of a lot of things. in this case, we've done the work and disagree with dan. >> their candy bars are okay. >> kyle, thank you so much. please come back. >> and you, please come back tomorrow. in the meantime, make sure you join us for "squawk on the stre

ackman saying the whole company is a ponzi scheme t only works by getting new sellers to sell productsis how the whole thing works. other people were big believers in herbalife. the stock was down 50% this year. hit a high of $83 in january. doug kass one person who tweeted this zero hedge, open oy crier. another one attributed to this. fly on the wall, everybody seems to be writing this. so this is one of the reasons. it has been a weak player all day long. going into the close you saw the plunge. under pressure to be a big story tomorrow as well for herbalife. back to you. cheryl: 52-week low, david. david: 52-week low. we should mention it is popping a little bit, in after-hours trading but not too much, not to make up for its loss. cheryl: we'll see when mr. gasparino says about herbalife. david: right. and mr. icahn. cheryl: s&p futures closing. let's head back to bob iaccino in pits of cme. bob? >> the closing in here is very, very quiet. oddly quiet. we have minute 1/2 until futures close. we're not hearing or seeing normal order that come in. david you and i talked about this a

. >> ahmed continues to fight for justice in court for ackman, and wants those responsible for supplying the drug that damaged his son to be held accountable. despite the difficulties he and his son face, they do not want any help from israel. >>> the united nations is taking over peacekeeping operations in central african republic. the new mission will be replacing african union forces. sectarian violence killed 5,000 people last year. the u.n. under secretary general for peacekeeping operations. >> we are building on all the achievements made by, of course, the very brave troops of the african union, and also by the french, so that is something that stays. on stop of that, we are bringing fresh troops, fresh assets, new helicopters, we are going to bring technology, uavs. we are bringing, above all, a political concept. it's really, first and foremost, of course, we are the protection of civilians, but with helping in the reconciliation of central africans and rebuilding the state. i do not want to even think that there will be a need for yet another u.n. peace deeper mission. we have

and ackman says, hey, wake up, allergen. he calls their actions embarrassing. >> and the first deal at microsoft reports they're close to a $2 billion purchase. the target, the video game maker behind mind craft. first up, apple creating all that buzz by unveiling new iphone 6 models, which are larger than their predecessors as well as that apple watch and the mobile payment system. stocks rose sharply, up more than 4% at one time, after apple pay was announced, but then lost its gains following the unveiling of the apple watch. it did finish the session lower in true apple fashion. a lot of analyst calls. a lot of media buzz today. "the new york times," their headline is, quote, apple is back better than ever. >> yeah, first of all, you are iron man. last i looked, he was there. maybe there are two carls. >> a lot of other media areas. >> when does the other carl come in? i think we ought to step back for a second. first of all, when the watch came out, the misfortunate came out at the exact same time as we heard the word c

whether it is in ackman. in the case of calpers, it is different. the world is a different place at $300 billion. you have a one point something percent position. it is sucking up a lot of your internal control. at some point, fish or cut bait. >> but then should we categorize what we call hedge funds? maybe they overallocated to cpa or macro. >> maybe they did. returns onthree hedge funds and the midyear around 3.6%. the three-year return on equities was around 11%. the three-year returns on wasties -- private equity's around 11%. look atsee how people this and say, why is this worth so much of my time and so much of my public relations risk? that is something these guys always have to deal with. >> butts go back to this revenue equity conversation. private go back to this equity conversation. >> you have this false sense of security. >> that is the beauty of being a long-term investor. withan match assets liabilities. a public pension plan in theory can afford to do that. maybe the liquidity offered by a hedge fund is not quite as attractive as so

. >> interesting, bill ackman happy to hear that.ther bill ackman might be asked in -- allergan has received escutcheons to buy the farm -- started discussions to buy the pharmaceutical company. >> number three, procter and gamble -- the consumer products giant is selling it at care business to spectrum brand. they sold about 82% of the global pet care unit to mars earlier this year. number two, tesla motors -- the electric carmaker, elon musk's company, dropped to the lowest level in two weeks yesterday. a j.p. morgan analyst projected a sharp rise of less than $200. shares continuing to extend that drop. >> it is probably that discount because of the fact that they are branching out into space taxis. >> the space taxi discount. >> a stock is only up 66%. poor elon musk. -- shyerr one stocks and estrogenic -- astrazeneca. in a deal right now to be bought. there are lots of questions right now about whether the crackdown that jack lew has announced will be a crackdown. we have the chief investment strategist at history bank, saying i

bill ackman has announced to float a fund on amsterdam stock exchange.firm has already secured $1.5 billion from 30, quote, corner stone investors, trading the shares expected to start on october 13th. there were reports earlier in the year they were looking to do something like this perhaps in london. >> we talked about that. we talked about how it doesn't necessarily -- it's not based on every day. it's based on a normal stock. but it's easier for him i guess. >> permanent capital. >> $5 billion is a lot. he always wants to be the warren buffett of investing. >> as long as we're on the topic of amsterdam. hundreds packed the central dam square for -- it's called the central dam square. the tomato throwing fight was scheduled as a protest over russia's boycott over european produce. tickets to the fight costed $18,000. organizers bought 120,000 today mows for the event. and the proceeds were going to tomato farmers that were hurt. >> i would pay 18 bucks if i could throw tomatoes at you too. >> is that what it said 18? >> 18 bucks to get a ticket to an

as that stock goes down, whether ackman sues this guy or that guy, that is the death knell. >> that hurtst is in david pyott's interest to not quell any talk about actavis which a lot of people like. it doesn't hurt to quell. you don't want to quell salix. everyone is what a natural, what a great company. no one great a darn. that was the most overvalued, now undervalued, a gastro? the dominant gastro player. pepcid? >> we don't know what the price will be. they have begun that process trying to figure out what price allergan would pay for salix. there is no guarantee there will be a deal here. pershing square threatening lawsuits. maybe they close it and don't give shareholders a voice at all. will that board coming up in the special meeting scheduled for december 18th find itself out of a job? some would say that. if you create value at allergan with this deal, perhaps nobody will be in a mood to vote out the board other than bill ackman. >> valeant needs to make acquisitions to make numbers. >> yes. do i want to be invested in a company that needs to constantly buy companies to make nu

bill ackman may get his wip tomorrow. now back to the improving economy.t's time to get the cop invonv running but there's lots to haul across the country. but maybe we can't when there is a lack of drivers. who wants to be a truck driver when you can do stuff like this? >> . >>> a jimmy hauling hogs. he was headed for bear about a mile out of shakey town. he said, big ben this here is a rubber duck and i'm about to put the hammer down. who work with regional experts who work with portfolio management experts that's when expertise happens. mfs. because there is no expertise without collaboration. in a we believe outshining the competition tomorrow requires challenging your business inside and out today. at cognizant, we help forward-looking companies run better and run different - to give your customers every reason to keep looking for you. so if you're ready to see opportunities and see them through, we say: let's get to work. because the future belongs to those who challenge the present. that corporate trial by fire when every slacker gets his due. and y

mimself, pershing square or the then analyst, the gentleman who allegedly told his room mate that bill ackmant. there is a look at herbal life shares. an interesting development in the ongoing saga. >> absolutely. stocks down.25%. there is probably a lot more that we will find out out about that story as the day progresses. >>> shares of move are on the move after news corp said it would require the operator of real estate websites. the stock is up 37%. johnson & johnson buying the privately held company focusing on therapies. the deal is valued at about $1.75 billion. walgreens reporting fourth quarter earnings in line with expectations at 74 cents per share. results helped by higher prescription sales. big show coming up on "street signs." pimco's new ceo give first interview since bill gross left the firm. brian sullivan joins us with early headlines. the last trading day in a volatile september. october looms ahead. three winners in today's market coming up your way next on "power lunch." your customers, our financing. your aspirations, our analytics. your goals, our technology. introduci

quick speed read of some of the day's other headlines, five stories one minute of the first up, bill ackmanaise $2 billion with an ipo of one of his offshore hedge fund on euronext amsterdam. the company is expected to have a market cap of at least $5 billion. >>> anheuser-busch talking to banks about financing deal to buy global beer rival sabmiller. told you at the top. hour. according to the journal the deal could be worth up to $122 billion. >>> macy's and bloomingdale's will testing same day delivery service in eight major markets. bloomingdale will offer the service in four major cities. >>> apple recording record preorders for its iphone 6. 24 million units were ordered in the first 24 hours. twice the number of preorders achieved in 24 hours bit iphone 5. that was back in 2012. >>> google reveals the first cheap android one smartphones in india. the devices will cost $100 each. smartphones. are designed to help push affordable smartphones in the developing world. that is today's "speed read." david: cool. if you feel that our tax code is a mess and who doesn't and there is no one ou

. >>> still ahead, bill ackman's company having one of the best years. >>> plus jetblue falling as thetrade. we'll show you where traders are betting it goes next, right after this. who do you trust? whose analysis is accurate? how do you make sense of it all? a simple, unbiased stock score consolidated from the opinions of independent analysts... is that too much to ask? nope. equity summary score, powered by starmine, will help you execute your ideas with speed and conviction. and it's only on fidelity.com. open an account and find more of the expertise you need to be a better investor. it's in this spirit that ingu u.s. is becoming a new kind of company. one that helps you think differently about what's ahead, and what's possible when you get things organized. ing u.s. is now voya. changing the way you think of retirement. they have not. the international routes, this is very interesting. i would buy it. >> all right. catch more options action. check out the website at actions.cnbc.com. >>> coming up next hour on "mad money," it is a fresh face on wall street, offering investors an

the company has been targeted by big ackman.ding up 2%. >>> let's go to the "power house." here's a hint. four-time super bowl host city. i know the city. jeter and i know it's tampa, florida. joining us is realtor with centry 21. here's a snapshot of the tampa market right now. median price, $203,500. average days on the market, 35. tampa, our first listing is, let's see, a town house, 3010 west stovall, unit d. not unit c, unit d, $425,000, taxes about $7,000. 2 beds, 2 1/2 baths, 2100 square feet of living space. that's pretty good-sized. >> yeah, it's a nice size. 12-year-old home. and it's a block from bayshore boulevard which is a very desirable area here in south tampa. >> and what else -- it's beautifully furnished. new construction or how? >> it's 12 years old. concrete block. construction, stainless steel appliances and like i said, a great location. and very desirable area. >> let's move on to 28 aegean avenue, $86,000. tell me about this. >> this is a brand-new house about a mile from derek jeter's house. it's on bea

david einhorn in greenlight capital, bill ackman, and berkowitz. identifiedfirms are with those individuals and investors cannot possibly ifgine what it would mean those people were not there and which of yourint holdings are subject to key person risk? if that key person were to disappear, tragically, something else might happen. what would happen to your money? if they're illiquid investments, how quickly could you get them out? they amassedw these assets in the first place, i really trust this guy and he seems really smart. but then it becomes a huge risk. much.nk you so i want to head to hong kong overseas were tens of thousands of pro-democracy protesters took demand freets to elections. the protest began on friday over china's plan to control the 2017 leadership election. andrew joins us now on the phone from hong kong. what is different this time around from hong kong? >> they are not going away. the idea was to occupy the central business and they have. they got near it, but now -- the are running the energy of the protest kind of overrun t

. ♪ >> bill ackman wanted to raise capital to avoid a repeat of the financial crisis. time, 27% of the money -- ackerman is waging campaigns against herbalife and also allergen. a market cap of at least $5 billion priced at $25 per share. go public over there. 56 minutes past the hour, bloomberg television is on the markets. record of over 4 million iphones in just one day over the weekend. we also have manufacturing out and those numbers be economist estimates here the index rising to a peak level so far this year. we are on the markets again in 30 minutes. coming up in the next hour, supply cannot meet demand in the alibaba roadshow. .ertain to be a record listing and how the mighty have fallen, a former billionaire is now wanted by the government and they want to freeze all of his assets on allegations of financial market manipulation. you are watching live on bloomberg television and streaming on your tablet and bloomberg.com. ♪ >> we're 30 minutes away from the opening bell. stossel open slightly lower. the s&p coming off its first weekly drop in a month. bank of

ackman made a hostile offer for the botoxmaker back in april. they sued allergan alleging that it was trying to avoid a special meeting to give it time to find an alternative deal. allergan is still urging shareholders to reject valiant's offer calling it grossly inadequate. >>> in washington news, democratic senator ron waddy says the congress may still legislation this year, joe, to curb inflation. people thought this was off the table, but the suggestion late yesterday that it's still back on the table. >> yeah, right? really? they're going to write lection that's still not passed. they should do it quickly, too, i mean, if they have any chance before november. it's going to be even less likely to pass after november. >> did you see there was an article over the weekend that suggested that hillary clinton was actually against legislation to curb inversion. >> wouldn't surprise me. she's much more reasonable than the people that are -- that make up those -- the left side. >> or closely aligned with business interests. >> of which obama is sort

. >>> bill ackman is speaking out today criticizing allergan's board, he's calling on investors to wake up and listen to what he says the are potential of pharmaceuticals offer and what they're trying to do that. in there a letter, ackman writes your actions have delayed enormous potential value creation for shareholders and are professionally and personally embarrassing for you. in its response, allergan is reiterating its criticism of valiant's offers. >>> we are a week away from the next fed meeting and there are rumblings that the rate hike could come sooner than expected. joining us right now to help make sense of the signals from yellen and company is david bianco. he is deutsche bank's chief equity strategist. bill lee and, gentlemen, welcome to both of you. >> thank you. >> david, first of all, what happened yesterday? this was the biggest drop in over a month for the dow, the s&p and the nasdaq. >> we've seen long treasury yields move up just a little bit. there's tension in the equity markets over what's going to happen to interest rates. >> we're talking about finally pushing

ackman. it is similar to a recent new youer cartoon which some of may have seen which shows this wealthy man in this really nice office with really big windows plane, town one yachts, four houses and five politicians. when you look historically, we often have had various organizations in american society that help us keep track of what is going on in the political process. of course, the news media is a big art of that. they have been the major oversight original station. -- oversight organization. reporters help keep track in what is going on in the political process. but of course, what we have seen in recent years has been the news media have been devastated by the financial crisis and the growth of free information on the internet. this has been especially harmful at the level of state and government. conducted byrch the american journalism review which basically shows over time the number of journalists covering state government. they have done surveys. they found in 1998, there were 513

and a fine run by activist with an ipol ackman in amsterdam, of all places.s that would boost market capitalization of at least $5 billion. he says he wants to raise capital to avoid another financial crisis. what do you make of that, tom? >> never a dull moment in the search for the value. marshall sonenshine with us. i was aghast this is not all that unusual -- i would suggest this is not all that unusual. >> i don't think it is too over the next financial crisis, let's start with that. when private equity firms started going public, amsterdam was the destination for kkr from when it is first listing. but interesting and vibrant financial community. it is a choice because he was not so sure it would work all that well in the united states. >> why not? >> first of all, the returns are not that impressive. people who choose activist funds are making deliberate bets that are institutional in nature. i'm not sure it would be a selling point in u.s. market. >> europe is front and center in the headlines. are voting thursday on independence. three out of four pol

bill ackman says he will sue allergan if it is,quires another company.he's

opportunity to make their voices heard on whether they want to support the six directors that bill ackman up to replace the six existing directors on allergan's board of nine. then say we want the valiant deal. allergan faces a few choices over the next few months. we pointed out many times when this thing started in may it was going to play out over a long period of time. it has done just that. they can if they think they are going to lose the vote, try and negotiate that deal with valiant. the deal is worth north of $170 a share. you see the stock price trading around that. valiant is well off its lows. that brought a lot of question marks. shareholders will have the opportunity to see valeant report earnings. october 20th it will report earnings. record date for special meeting october 30th. allergan has questioned those numbers many times in this battle. at least giving itself one more chance to see how do those quarterly numbers look. allergan's other opportunities? they do an acquisition that takes valeant out of play. they use the balance sheet it was counting on to finance its own

if that were to be the case ackman couldn't vote those shares, they have enough to meet the 25% thresholdd, that they need to meet by september 14th to call that special meeting. the company has not committed. they told us a date of december 18th. we shall see. when it comes back to allergan, if there is going to be a deal they try to pursue to perhaps use up that balance sheet in the past, something we talked about a lot, time is of the essence for them to a certain extent if they want to try to get something announced and perhaps closed prior to potential special meeting. again, they are at 35% or will be by the end of today. back to you guys. >> all right. david, thank you so much. great stop. we'll get stock trading with jim in a moment. s&p back down to 1990. how do you beat the number one seed? you just have to win 70% of your points at net. and keep unforced errors under 10%. on the ibm cloud, the us open analyzes 41 million data points from 8 years of competition to uncover key insights. data can help show you how to win, no matter what business you're in. today there's a new way

the heart of a lot of controversy, and of course, a big target for short sales by the likes of big ackman the day approaching the closing bell off the lows and, bill, kelly, a trade to pay attention to. >> we'll do that. thank you. >>> meantime, here's how we are doing as we head toward the last few minutes before the bell rings. dow down 103 right now. nasdaq down 1%. the s&p down here about 16 points. here's what we're following. russell 2000 since july, this index is down 7% in that time. down 1.5% today but there's the all-time high set back in early july and here we stand today at 1129. joining me now, jeff of fifth third bank and randy of charles schwab. blue chips generally higher still and the secondary stocks, small caps lagging. what do you think? >> this is a market struggling to understand where global growth is and what equity investors should pay for it. the combination of valuations and growth prospects, the russell 2000 small caps in general came into the period questioning growth and much richer valuations. they're hurting in comparison. >> do you think that continues? >>

that stock i think bill ackman cried at one point.of the economy, oliver, has been rebounding better than some of the other segments of the economy. do you see that continuing for costco and comp sales going forward? >> i do. they have 19 quarters of consecutive positive comps and 4% to 5%. compared against the mall and walmart and target, negative traffic and negative 2% to 3% traffic and affluent appetite behind the network customer, stabilizing unemployment and housing valuations with a big positive and not a high fashion retailer. it's a treasure minute. they have had 19 quarters of positive comps and i think the beauty here is the buying organization and the assortment versus fashion. >> people go to tj maxx for treasure hunts and that bag that they can't find anywhere. they don't go to costco which is a warehouse because over there you buy ten bags. it is a totally different shopping experience. you go to costco to fill up the car for -- on toilet paper or paper towels. these things which by the way you can order to your house.

right and some of the tactics frankly and this is my own opinion, the things i personally think bill ackmanne at herbalife has gone too far. >> this appears to be chapter 1 for creating value for shareholders. he wants some sort of m&a. he says the payments industry which paypal is an important part must be consolidated sooner these consolidations take place, the better. he credits that with the introduction of apple pay. talking to bank executives today they say no bank could do this with regulatory issues and maybe visa, maybe mastercard could. would you like to see that? >> all, i know that this payment business is going to have margins crushed very quickly, scales going to matter. paypal has a huge installed base and now free from ebay. you could argue without debating it that activist investors are the cure for weak indecisive management and ineffective boards. nothing wrong with this. and you saw the stock of ebay go up. it's all good, kayla. what's wrong with this outcome? >> that's, kevin, what if carl icahn speaking to us would say, yet more evidence that activism has worked. he's