eastern time sflfrmts for more on bill ackman's bet on starbucks. in the meantime, here is what else is coming up on fast. >> announcer: the rising rates are supposed to help financials. but the banks have still gotten crushed. we'll tell what you it could mean for the market. plus, pete's bringing the heat pitching a tech tighten down 12% but you won't believe how he sees it going. the name when "fast money" returns. rp. >> announcer: "options action" sponsored by think or swim by td ameritrade i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills. education to take your trading to the next level. only with td ameritrade. >>> welcome back to "fast money. it's a bank purgatory. despite what should feel like nirvana for financials they seem stuck in willy-nilly o how far away is bank heaven .devil in the details let's get to dom. >> melissa, the easiest way to sa

ackman was long valiant.ny wasinst the .ery profitable for her she is taking a short position in tesla, a small position. she doesn't categorize it as a high confidence short. she still is critical of the company and its balance sheet. she talked about the amount payable, which is more than the balancef cash on the sheet. this is a company that is having trouble paying its bills, essentially. it doesn't help matters that they had that settlement with the fcc which is not finalized, by the way. of famous short has opined on that recently, with david einhorn at greenlight capital. is theory is that elon musk trying to get himself fired. he has already agreed to step down as chairman. of course, he may have bungled his settlement by calling the sec the "short-sellers enrichment commission." he certainly, after that settlement, has shown his frustration on twitter. haidi: elon musk hasn't responded to this latest development. he has been saying we are on the brink of things improving. >> that is important. this i

ackman as we do with all of our shareholders and just a reminder that ackman is speaking at an investmentrence currently that is closed to the press. his presentation should be made available later today so we'll have a better idea of exactly what his plans are with this investment, but for now, as you can see there are shares of starbucks up about 2.6%. back over to you. >>> thank you very much. now let's get to don c. >> a huge surge in vool yulume is on the heels of bloomberg headlines citing sources saying the game maker could be drawing potential takeover interests from other gaming rivals those particular headlines have seen a surge in trading for zynga shares just to give you some perspective on average on a full day, only about 10 million shares trade what's curious about this is many of the game franchises that happen like words with friends and farmville have perhaps not been the growth engines they used to be but certainly something we're watching for sure we have calls out to all the parties involved we'll bring in more details as we learn more on our side. let's get over to s

maybe this is the gensler of the --gentler ofnsler bill ackman.onnie: there have been many changes made. some did well for the stock in some did poorly. where do starbucks need to improve? >> they are talking about china, which says something about where they are in the u.s. this is the company that introduced americans to copy culture, got americans off of maxwell house and folders but they have slow down. the joke about starbucks is on every corner has become a real issue. they are getting passed on the higher ends. people are willing to pay a lot for coffee and starbucks because it is ubiquitous gets in a position in the middle of the road. that is not the place you want to be in coughing out to the u.s. market is tough. vonnie: is there room for improvement? >> they have always done well on digital ordering. they have been desperate to sell more food in the u.s. for years because they got people going in five times a week amort to buy --david: -- vonnie: the stock has been doing well. it has been in a rage for a couple years. >> for a long tim

ackman, as they say with all of their shareholders. at the share price, when the news actually hit earlier this afternoon, the share price pops very quickly almost to $60 a share. still ending in the green, up by about 2%. that is still at its highest in the past 4.5 months. haidi: bill ackman's track record has been a bit patchy of late. are we starting to see a turnaround? ramy: we are. through the third quarter this year, pershing square has returned under 16% to its shareholders. compare that to what has been happening on the s&p, which is just under 8%, you can see where the money gains are clearly happening. let me walk you through the biggest changes in position for pershing square. you can see the ones over this year. united technologies. bill ackman wants to break up the company, a huge advocate for that. he has a new position lowes as he tries to improve the company's performance. also they are taking money off the table, a soul position with nike. about $100vocacy, million. there is a sale for part of a stake in chipotle. 7.

all ackman recently disclosed $900 million stake in the coffee chain.arlier this week i sat down with president and ceo kevin johnson to talk about the investment and also asked if starbucks would consider selling cannabis in canada. >> that is not anything that we are considering or pursuing. i don't feel like it is accretive to our brand, what our brand stands for, but i respect the fact and we will monitor and watch what happens in the industry, as we always do. we are really focused on how we can create great custom handcrafted beverages, around our coffee and tea platforms. we have expanded into food. es are some of your favorite. jon: don't get me started. you havebaristas, do to think about that with cannabis being legal? if you are going to be doing something in your spare time, there has to be some time between when you are consuming wine or alcohol, or cannabis, and coming to work. has that trickled into the employment workplace? >> our partners use good judgment. we hire the kind of people that care about making a great connection with their

tracee: that's right, bill ackman revealed funds have increased stake in starbucks to nearly a billionkman told the crowd in 2018 conference in new york that his fund has 15 at any time 2 million shares of starbucks which is about $900 million, ackman says he likes starbucks because they care for its partners and aren't threatened by increases of minimum wage. lauren: looking to change anything at starbucks? tracee: i'm not sure if he is. lauren: what made shares jump in a big way? tracee: activist manager has accumulated $690,000,000.2.9% stake in ppg industries, that's one of the world's largest manufacturers and distributors of coding and special team materials with the market cap about $26 billion, shares of ppg industries jumped more than 5% in after hours trading on tuesday. lauren: all right, tracee, thank you very much. cheryl: we have got a lot more coming up for you this morning. another award show in hollywood goes political. >> you know what else is voted on by the people, midterm elections on november 6, get on and vote. cheryl: yeah yes, that was taylor swift, we will hav

how about bill ackman with starbucks. i think he has anything to offer. u.s. should be getting better. i have been saying thstarbucks s turning. ackman has done well with the restaurant chain, but here is the thing, starbucks is good management, ceo kevin johnson is righting the ship. long-term, i like starbucks. how about ppg, frankly i don't know what to say about this one. had been a great performer under former ceo earlier this year, the company lost a key outlet, lowe's stopped carrying it. from the old heinz board of directors, i bet he wishes chuck was back running things. i don't know you can own ppg after a dramatic shortfall all in all, ppg and starbucks will succeed and fail. long-term, i like starbucks. campbell's soup, a different story. lobe wins, you make money. these big money managers won't save you from a hideous market keep that in mind the next time you see stocks surging on a bad day because we heard about an engaged or active invest or getting involved getting involved stick with cramer. i think we should do that meeting tomorrow. we

ackman. starbucks show to 57.7137 and tank other talk is heating up at papa joans. they are there are reports the fund management is considering a bid for the pizzae chain but ts no guarantee that a deal according to the "wall street journal." papa johns has been exploring a sale whie it tries to recover h the messy battle w founder and former kmarm and ceo. john schnatter. shares of papa johns jumped nearly9% to 54 pft.990. american airlis says fuel costs are rising and that it lofts $55re million inue last month due to hurricane florence. the fuel costs concerned investors who sent the shares down more than 6% to 33 process.55. >> exxonmobil is committing $1 million over the next two years to promote a tax c onbon emissions by corporations. according to the "wall street journal, this type of donation is rare among the oil majors. exxon see a carbon tax as an alternative to patchwork regulations out there right now. exxonmobil shares rose a fraction to 86. today. and shares of snap hit an all-time low after a wall street analyst warned the company in his words is r

ackman says in his presentation that he believes the stock price can double in three years.s based on hid best case scenario what was his order the drink he brought to the conference >> a venti tango passion tea -- >> tango >> tango passion tea no sugar. >> probably $8 >> venti, a big one. >> leslie, thank you >>> time for the squawk planner. weekly mortgage applications are due at 7:00 a.m. we'll get the september producer price index at 8:30. two fed presidents will speak today. charles evans and rafael bostic have events scheduled. president trump travels to erie, pennsylvania tonight for a rally. let's check on u.s. equity futures. we are seeing a positive open for the dow jones, up by 31, s&p 500 up in the green indicating an open up 2.5%. the nasdaq looks down about 4%. >>> rising interest rates have equities on edge joining us now with his read on the markets and yields is chris zaccarelli from independent adviser alliance you made the point we have seen a tilt away from growth, a tilt towards value in probably most sharply in the past month. over the past few months

p >>> big moves by big activists we'll tell you about new plays by bill ackman, nelson peltz and dand president trump doubling down on his criticism of the fed, at this point it may be tripling or quadrupling down it's wednesday, october 10, 2018 "squawk box" begins right now. ♪ >>> live from new york where business never sleeps, this is "squawk box. ♪ >>> good morning welcome to "squawk box" on cnbc. we are live from the nasdaq market site in times square. i'm melissa lee along with becky quick and a low wilfred frost. >> i came in this morning he was sitting like this. >> i was prepping. the screens are so low underneath the table i get for tv i have to go back up for the viewers, you made me stay like this >> there you go. >> i'm not going right to the top. >> the angel music >> i will go back down there we go. >> you are still too short >> yeah. >> you need a couple inches. ther

. >> bill ackman has revealed a $900 million position in starbucks.of saw a spike off the news but about some of the gains. ed: piece mostly very nice about starbucks, says it is a great company with great products. he's also complementary of the new management. he says they are new in the seat but they're doing a good job and he's pleased with the initiative. one interesting thing is that chairman of starbucks was the chairman of jcpenney when ackman jumped in there. that was probably his most acrimonious fight. he got rid of him and brought someone in who subsequently destroyed much of that company. so, from just talking to people before i came on air, mike allman doesn't have much in the way of love for that man. he hates his guts. it will be interesting to see how they gel with that nice guy activist. >> "the wall street journal" says softbank is in talks to take a majority stake in we work, with an investment between $15 billion to $20 billion. yvonne: the japanese conglomerate has already invested around $5 billion in the company since last year

one more thing it doesn't show up in the power rankings ald at all, but we find out that bill ackmans taking a big position at starbucks i think it would be a mistake to chase -- after the announcement, but they're a well-run company i think it will have a good fourth quarter but that means you have to look through the uneven third quarter the bottom line -- if you want exposure to the consumer discretionary space going into the end of the year, this is if you're bullish on the economy, my favorites are amazon, which works well in the slowdown tjd and kohl's, vf and then nike in that order. let's go to brandon in pennsylvania brandon. >> caller: booyah from philadelphia, jim. >> good to see you, man. we'll be down there again. we keep going to philadelphia, i love that. how can i help >> caller: i wanted to diversify my meteorologist -- portfolio and i lack any consumer discretionary. as a 22-year-old college student many of my friends are going to casinos now and i figured instead of blowing my money at a casino on roulette or craps that i could invest in casinos instead. so i wante

officials have been sacked a trusted advisor to mohammed bin salman is among them so do al kut sanny also ackman alice siri deputy chief of intelligence and former spokesman for the saudi u.a.e. led coalition in the war in yemen the crown prince will now head a restructuring of the general intelligence agency the announcements appear to signal that mohammed bin selman is being absolved of blame for jamal khashoggi death as the turkish inquiry continues the actions of saudi arabia leave more questions than answers among them where the remains of general. and more than anything else was this really as saudi arabia portrays some sort of accident or a rogue operation from within its own while household andrew simmons al-jazeera is temple the us president says the arrests are a great first step but he wants to speak further with the crown prince many u.s. senators from both parties according to the u.s. to carry out its own investigation and not to accept saudi arabia's conclusions meanwhile the u.k. says that it's considering its next steps and the president of the european parliament and dutch prim

do wells like eddie lampert simply stripping out and pocketing lots of money even though his bill ackman as a businessman is provably quite poor in fact wall street goes into basically how he got around the look back clauses that could deal with fraudulent conveyance so why why obviously sirius has been a dead man walking for years so why did he wait all these years to finally declare bankruptcy right now they're going to go through basically keep in operation through christmas this is goodwill as opposed to achieve because they're going to keep these jobs through christmas we're going to care about the american population so they're they now have a debtor in possession loan of three hundred million dollars mostly coming from eddie lampert but one of the ways for lampard to get the real estate is to pledge it as collateral for a loan and then have the company default on the loan another way is this serious holding already sold two hundred thirty five of its best stores for two point seven billion dollars in sweetheart deals to ceratin age growth properties when it was still a sears and t

have been sacked a trusted advisor to mohammed bin solomon is among them so did al kut sunny also ackman alice siri deputy chief of intelligence and former spokesman for the saudi u.a.e. led coalition in the war in yemen. the crown prince will now head a restructuring of the general intelligence agency the announcements appear to signal that mohammed bin salmond is being absolved of blame for jamal khashoggi death as the turkish inquiry continues the actions of saudi arabia leave more questions than answers among them where the remains of general. and more than anything else was this really is saudi arabia portrays some sort of accident or a rogue operation from within its own oil household andrew simmons al-jazeera is temple will speak to our correspondent in istanbul in just a moment the first to make you aware of this that's going on it's a statement being read by the head of the turkish arab media association and friend of jamal khashoggi a to run case laci. before we move on and let's just listen in briefly to what's being said. announcement of jemaah staff and what. they actually k

officials have been sacked a trusted advisor to mohammed bin salman is among them so do al kut sanny also ackman alice siri deputy chief of intelligence and former spokesman for the saudi u.a.e. led coalition in the war in yemen the crown prince will now head a restructuring of the general intelligence agency the announcements appear to signal the mohammed bin selman is being absolved of blame for jamal khashoggi death as the turkish inquiry continues the actions of saudi arabia leave more questions than answers among them where the remains of general. and more than anything else was this really is saudi arabia portrays some sort of accident or a rogue operation from within its own well household andrew simmons al-jazeera is temple or do you accept some been released of one of jamal khashoggi final interviews the discussion with a newsweek reporter was originally confidential as a shock she said that he feared for his life here's some of that recording. do you want to be any form of. evidence to the public opinion why not. transparent process where where you have been easy. to use the rule of la

officials have been sacked a trusted advisor to mohammed bin salman is among them so do al qa turney also ackman alice siri deputy chief of intelligence and former spokesman for the saudi u.a.e. led coalition in the war in yemen the crown prince will now head a restructuring of the general intelligence agency the announcements appear to signal the mohammed bin selman is being absolved of blame for jamal khashoggi his death as the turkish inquiry continues the actions of saudi arabia leave more questions than answers among them where the remains of general because i'm more than anything else was this really is saudi arabia portrays some sort of accident or a rogue operation from within its own will household and drew simmons al-jazeera is temple. fiance had teach has tweeted a tribute to him following saudi arabia's latest statement new video has emerged as well of what may be the pair entering his apartment in istanbul on the day he was killed so he went to the consulate to get paperwork for his marriage to changes are dramatic say as outside the saudi consulate in istanbul for such a man after

officials have been sacked a trusted advisor to mohammed bin salman is among them so do al kut sanny also ackman alice siri deputy chief of intelligence and former spokesman for the saudi u.a.e. led coalition in the war in yemen. the crown prince will now head a restructuring of the general intelligence agency the announcements appear to signal that mohammed bin selman is being absolved of blame for jamal khashoggi death as the turkish inquiry continues the actions of saudi arabia leave more questions than answers among them where the remains of general. and more than anything else was this really is saudi arabia portrays some sort of accident or a rogue operation from within its own while household andrew simmons al-jazeera is temple audio excerpts have been released of jamal khashoggi last interview he was talking to a newsweek reporter and the discussion was originally going to remain confidential as khashoggi said he feared for his life he's asked about crown prince mohammed bin sultan. do you want to be any form of. evidence to the public opinion why not. transparent process where where you

back over to you >> wonder if it's a good time to sort of recap some of the ackman high profile >> aot of food chipotle for the current holdings consumer names have really been a big focus of his lately. he invested in lows. he invested in nike. we have seen this play book where he is investing in these consumer brand names that are more large cap stock and tend to be a little less volatile. it is up about 16% year to date. >> all right >> thank you >> uh-huh. >> kudos to jim. he was saying a good time to get in >> yeah. >> it is interesting in terms of the trading. 22 times consensus today which is the report they released. it's in the a market discount at the moment >> they always got that evaluation >> is it going to come as fast moving forward >> that's a big part of the thesis in this presentation and for others >> and arguing that some of the risks have priced in we'll have to see how it plays out. >> certainly vag good day today on that news >>> all right. we have about 37 minutes to go before the closing bell. dow is down 41 all over the map. nasdaq losing most of its gains.

activist investor bill action man reveal -- ackman revealed he invested $900 million in starbucks. he called it a good bet and says starbucks has room to add stores in the u.s. and says china is a huge to opportunity for growth. >>> sears is doing everything it can to avoid bankruptcy. the struggling retailer hired alan carr, ceo of the advisory firm, adding him to the board. they have a debt due monday and dwindling cash horde to pay it back. sears has prepared a filing for bankruptcy. sears stock down 83% this year to below $1 a share. an american icon there. >>> amazon getting rid of a secret a.i. recruiting tool. artificial intelligence recruiting tool. why? reuters admits amazon is using artificial intelligence to refer candidates, but it's preferred male to female. in other words it learned gender bias. it vetted applicants by observing patterns in resumes, and most came from men. it began ranking men higher than women. even artificial intelligence we have gender bias. good god. >>> our breaking news coverage of hurricane michael continues right now on "early start." >>> good

morning so it makes sense to talk about coffee starbucks shares have jumped higher after pershing's ackmanaled a holding in the company at about 9$900 million i current prices he sees starbucks shares doubling in the coming years >>> separately whitbread shareholders will meet later today to discuss the sale of a key unit to coca-cola. julianna tatelbaum is here to run us through what to expect. >> yes today whitbread is holding a general meeting at 2:00 p.m. at that meeting they will look to approve the proposed sale of costa coffee to coca-cola for 3.9 billion pounds the market expects this deal to go through no problem given the unanimous support from shareholders, it serves as an interesting reminder to a key trend in the consumer space, that's one of consolidation in product categories and distribution channels in the beverage space looking back at some deals we've seen over the last year, pepsico buying soda stream, nestle buying starbucks lavaza teaming up with mars, and jab holdings doing a deal with illy so what is driving this? trying to get outside regular channels and adapting

officials have been sacked a trusted advisor to mohammed bin salman is among them so do al kut sanny also ackman sciri deputy chief of intelligence and former spokesman for the saudi u.a.e. led coalition in the war in yemen. the crown prince will now head a restructuring of the general intelligence agency the announcements appear to signal that mohammed bin salmond is being absolved of blame for jamal khashoggi death as the turkish inquiry continues the actions of saudi arabia leave more questions than answers among them where the remains of general. and more than anything else was this really is saudi arabia portrays some sort of accident or a rogue operation from within its own well household. andrew simmons al-jazeera is temple the european nations have been reacting to the statement from saudi arabia close saudi ally britain says that it's considering the reports of what the u.k.'s next steps will be the president of the european parliament has called for an urgent investigation to clarify the circumstances surrounding her death dutch prime minister mark ruta has echoed the sentiments saying

ackman was shorting china's currency. now he is going long on coffee drinkers. revealing a stake of about 1.1% it isrbucks, he thinks the single largest growth opportunity which could help the underperforming shares double. take ak in talks to majority stake in we work. according to bloomberg sources, is japanese conglomerate likely to invest several billion dollars on top of the money softbank put in last year. in june, the vision fund chief wework was seeking to raise more funds. the amazon cloud competing division has signed new deals worth a combined $1 billion. the contracts are worth $500 million over five years. representactions existing partnerships. all three come it is declined to comment. that is your bloomberg business flash. anna: thank you very much. manus: you can take this. i think it is only fitting. ok, this is my fold, i appreciate that. nearing a sale. thatwould have said better. the two parties have reached a tentative agreement on price and may announce a deal this month. joining us now, the senior reporter in milan. you can say it better t

while speaking at grants fall 2018 conference in new york, big conference lot of people go to, bill ackman revealed he's taken a long position, unlike the short position he had on herbalife, long position in the coffee giant, amassing a stake of 15 million shares. what's the value of that right now? at $57.83, $900 million. near $1 billion worth. pershing square says there's potential for starbucks shares to more than double in value over the next three years. right now they're not doubling in value but certainly getting a nice pop to the upside at 2.25%. we will be watching starbucks. >>> let me get to the international monetary fund. it is pointing a sharp finger at one culprit as the biggest reason for its downgrade of global economic growth. less than three months ago, i want to put this into perspective for you, the imf run by christine lagarde said the global economy would grow at 3.9% this year but now, citing the trade war between the u.s. and china, they have been forced to downgrade that to 3.7%. not the worst thing in the world but an even bigger slice has been cut from u.s. gro

officials have been sacked a trusted advisor to mohammed bin salman is among them so do al kut sanny also ackman alice siri deputy chief of intelligence and former spokesman for the saudi u.a.e. led coalition in the war in yemen the crown prince will now head a restructuring of the general intelligence agency the announcements appear to signal that mohammed bin selman is being absolved of blame for jamal khashoggi death as the turkish inquiry continues the actions of saudi arabia leave more questions than answers among them where the remains of general. and more than anything else was this really is saudi arabia portrays some sort of accident or a rogue operation from within its own oil household andrew simmons al-jazeera is stamboul let's go live now to the consulate in istanbul of zero stratford is there what are we to make charles of this abrupt dead of the night turn around this whole explanation from saudi arabia stands in stark contrast to what the turks have previously said. yes it does certainly according to these leaks that. government and indeed the prosecutor's office have been leakin

officials have been sacked a trusted advisor to mohammed bin salman is among them so do al kut sanny also ackman alice siri deputy chief of intelligence and former spokesman for the saudi u.a.e. led coalition in the war in yemen the crown prince will now head a restructuring of the general intelligence agency the announcements appear to signal the mohammed bin selman is being absolved of blame for jamal khashoggi death as the turkish inquiry continues the actions of saudi arabia leave more questions than answers among them where the remains of general. and more than anything else was this really is saudi arabia portrays some sort of accident or a rogue operation from within its own well household andrew simmons al-jazeera is temple odio access have been released of jamal khashoggi last interview he was talking to a newsweek reporter and the discussion was originally going to remain confidential as khashoggi said he feared for his life he's asked about crown prince mohammed bin sultan. do you want to be any form of. evidence to the public opinion why not. transparent process where where you have

else would you say from your experience in the options market >> oh, gosh, a bunch -- >> einhorn >> ackman is notorious i'm not insinuating anything a lot of guys these days -- >> i agree that's why i asked he mentioned buffett it is not a buffett-esque tactic with call options, however, there are investors for whom you could say correctly that would be a way they would start. that's why i asked >> that's a good discussion from the flows. i think stephanie, the analysts, and tusa would come down to where is the biggest variability? it's power they think they'll do cost cutting. my concern would be the top line shrinks. the competition goes up. i'm talking about power. so before i make a decision on this i want to hear on the next earnings call what they're seeing as far as business prospects and power. >> it is interesting on a day where, look, it's hard to find a lot of marquee names that are green on a day like today or when the markets are under pressure because of rising rates and then general electric -- >> you find them, scott, in stocks we don't talk about anymore, and i wanted to b

officials have been sacked a trusted advisor to mohammed bin salman is among them so do al kut sanny also ackman alice siri deputy chief of intelligence and former spokesman for the saudi u.a.e. led coalition in the war in yemen the crown prince will now head a restructuring of the general intelligence agency the announcements appear to signal that mohammed bin selman is being absolved of blame for jamal khashoggi death as the turkish inquiry continues the actions of saudi arabia leave more questions than answers among them where the remains of general. and more than anything else was this really is saudi arabia portrays some sort of accident or a rogue operation from within its own world household andrew simmons al-jazeera istanbul audio excerpts have been released of jamal khashoggi last interview he was talking to a newsweek reporter and the discussion was originally going to remain confidential as khashoggi said he feared for his life he's asked about crown prince mohammed bin sultan. do you want to be ready for me when the evidence to the public opinion why not. transparent process where wh

have been sacked a trusted advisor to mohammed bin salman is among them so did al kut sunny also ackman alice siri deputy chief of intelligence and former spokesman for the saudi u.a.e. led coalition in the war in yemen the crown prince will now head a restructuring of the general intelligence agency the announcements appear to signal the mohammed bin selman is being absolved of blame for jamal khashoggi his death as the turkish inquiry continues the actions of saudi arabia leave more questions than answers among them where are the remains of general. and more than anything else was this really is saudi arabia portrays some sort of accident or a rogue operation from within its own while household and drew simmons al-jazeera is temple we don't play for you know some audio of jamal has shown she's lost interview the discussion with a newsweek reporter was originally confidential as a shock she had said that he feared for his life is some of that recording he wants to be reformist why not bring evidence to the public opinion why not bring transparent process where where you have briefly. i

have been sacked a trusted advisor to mohammed bin salman is among them so do al kut sonnie also ackman siri deputy chief of intelligence and former spokesman for the saudi u.a.e. led coalition in the war in yemen the crown prince will now head a restructuring of the general intelligence agency the announcements appear to signal the mohammed bin selman is being absolved of blame for jamal khashoggi death as the turkish inquiry continues the actions of saudi arabia leave more questions than answers among them where are the remains of general because i'm more than anything else was this really is saudi arabia portrays some sort of accident or a rogue operation from within its own well household i'm drew simmons al-jazeera is dumble. fiance had he strangles has tweeted a tribute to him following the saudi admission that he is dead new video has emerged it's believed to show the couple entering his apartment in istanbul on the day he was killed. went to the consulate to get paperwork for his marriage to change. of the head of the turkish arab media association has called for the authority w

have been sacked a trusted advisor to mohammed bin salman is among them so do al kut sonnie also ackman sciri deputy chief of intelligence and former spokesman for the saudi u.a.e. led coalition in the war in yemen the crown prince will now head a restructuring of the general intelligence agency the announcements appear to signal the mohammed bin selman is being absolved of blame for jamal khashoggi his death as the turkish inquiry continues the actions of saudi arabia leave more questions than answers among them where the remains of general. and more than anything else was this really is saudi arabia portrays some sort of accident or a rogue operation from within its own well household andrew simmons al-jazeera is double life as the saudi arabian consulate in istanbul as stratus the chance what are we to make of this dead of the night saudi arabian about and the way in which it starkly contradicts previous saudi assertions that. left the consulate building alive and well. that's right aged radio a shocking about in terms of the saudi narrative on this story it was only a few days ago w

. >> so you've worked with bill ackman as an activist in chipotle you took a stake in starbucks, anotherany advice on working with mr. ackman >> my experience with bill has been a positive relationship he's hugely passionate about chipotle and we tend to talk about the food and what we like about the business hopefully the same can be said for all those other portfolio companies. >> it should be able to grow to the sky. it should. i could eat mexican food three times a day. i could really >> that'd be good. >> you got to work with me though >> we're coming your way the nachos will make its way there. >> maybe the bulls of some so-- some sort. you've got good burrito bowls. >> when we open, we'll get you -- >> do you have a card? >> i can get you a card. maybe even a gift card >> what's your e-mail? >> joe brings up a great point though the old management team seemed a little elitist and snobbish, if you will and you needed sort of a breath of fresh air >> just a little bit >> is that where you're going? >> look, one of the things we're doing with the brabd nd is makig it more visible and

have been sacked a trusted advisor to mohammed bin salman is among them so did al qa turney also ackman alice sciri deputy chief of intelligence and former spokesman for the saudi u.a.e. led coalition in the war in yemen the crown prince will now head a restructuring of the general intelligence agency the announcements appear to signal the mohammed bin selman is being absolved of blame for jamal khashoggi his death as the turkish inquiry continues the actions of saudi arabia leave more questions than answers among them where are the remains of general. and more than anything else was this really is saudi arabia portrays some sort of accident or a rogue operation from within its own will household and drew simmons al-jazeera is temple or. fiance had teach a changes has strayed tweeted a tribute to him following saudi arabia's latest statement new video has emerged as well of what's thought to be the pair of them entering his apartment in istanbul on the day he was killed ashaji went to the consulate to get paperwork for his merits to change is a chimera is live for us in istanbul such a

hedge fund manager bill ackman reveals nearly one billion dollar stake in starbucks.up yesterday. flat today. >>> new scripted shows to win over users. shares down 50% this calendar year. >>> to the tennessee senate race where taylor swift is now a big player, going after marsha blackburn rallying a lot of voters register. connell mcshane talked to her. what was her reaction. reporter: she pushed back. tailor swift was specific with her. her record appals and terrifies, voted against equal pay for women. when asked about that i have a strong record on those issues back when she was teenager, she did vote against the specific bill taylor swift was talking about. the specific in the senate race, turnout, and taylor swift, 100 million instagram pollfollowers. there were reports of a spike in voter registration this week. i spoke to the secretary of state in tennessee on the phone last night. he said, it is tough to say it was because of taylor swift. there are actually normally would be a pickup at this time because the deadline to register to vote was yesterday. blackbu

ackman. tryon and ppg not really having talked that's significant stakes for trion.battles and ge and procter & gamble -- >> one year anniversary yesterday. >> of peltz -- >> the shareholder meeting. >> and i'm not sure if they won or lost that proxy fight. >> they lost nelson peltz is on the board. >> but the numbers -- >> they claim victory and then had to walk it back and let him join the board the company doesn't have much to show for it. >> now, dan lobe, his track record of late and when it comes to proxy fights -- >> campbell's will be tough for him. i struggle to figure out what he is pitching. first it was an outright sale of the company. then a full board slate. now he's saying they have a fiduciary duty to see whether they sell but they could turn around the business, improving soup, not too specific the best thing they have going is the share price down 22% this year we got a date now also, november 29th for that meeting. >> the record date was yesterday which is why he increased the stake. >>> let's get to dom chu head quarters for a quick sector check n

and in my view it's a retail historian and cornell we got the most extensive archives and same with ackmaneath doorstop, don't back on these wall street was the type of equity guys. they're great private equity firms, brookfield out of canada, they constructively rebuilt these great retailers and take them to an even higher level but it is like coaching and men's and women's hockey or hall of fame lacrosse and great leadership like frank blake who turned around home depot and when lambert sold a number of his stores to frank blake initially frank turned two thirds of the back because they were such horrible shape from deferred maintenance. lampert canceled the sales circulars and paper stores and cut tv and radio advertisement and it's a slow way of killing a great company. shears should be alive today and very viable had it had good leadership. neil: sad. all right, thank you. not you but what is going on. always good talking. you know the stuff we had last week and they said none of your analyst so that one coming but my next guest did. almost to the day. after this. nah. not gonna happe

and ackman has taken a stake in hilton worldwide the stake of 10.4 million shares represents 14% of theit would discuss it further when it issues its third quarter investor letter. you can check out shares of hilton worldwide up by 4%. >>> time for pops and drops. tesla posting a surprise profit driven by higher production model 3 of ceo elon musk in an understated call, expects the company to repeat its net profit in the current quarter as well >> when means a normal conference call? >> yeah, a normal conference call, exactly. anb shares dropping. and also slashing it, you don't see that every day 20% sliced right off the top >> just look at the chart. the crazy overshoot to the upside now completely online. >> and watching that stock for years and years and years. >> always just kind of a whip-end of the semi conductor cycle. >> exactly >> and ford shares are up at least today. the company earning 29 cents a share. beating estimates by a penny revenue. also top estimates, sad when 30 cents represents a 4% move anyway, the company also reaffirmed its four-year guidance >>> when we come

sometimes they lose money, like william ackman with valiant. but a lot of times they make tons of money. paul singer, carl icahn, you know a lot of these names. okay, why are they permitted? we start getting into the market fundamentalism issues. i am here with ken jacobson. we are finishing a paper, we have been working on it the past three or four years on the adoption of rule 10b 18 in november 1982 by the security exchange commission which basically is the license to loot. it enables companies, encourages companies, in fact, to do buybacks. it says you can do up to 25% on any of dave your average trading volume over the previous four weeks. it's safe harbor so even if you go over that amount you won't necessarily get charged with manipulation of the market. in fact, the sec does not collect data on this because the chair of the sec at the time thought it would be too burdensome on companies will self regulate and don't worry about it. by 1984 -- this is not something new. that's when stock buybacks started. they have escalated, gotten great