ackman says that is not really what happened.threatened to punch him in the face. liz: there is a giant hook on the side of this stage -- >> you asked me. i didn't want to talk about. you asked me. i'm giving you, you want fact for fantasy? you want fact or fantasy? liz: a little bit of both, depending on the time of day. thank you charlie. advanced auto parts. no more, charlie. >> [inaudible] liz: get him off. advanced auto parts is tanking, we showed you that earlier, down 35% now. session lows at the moment. this is a three-year low but our "countdown closer" says fuel up on those shares, buy now. todd, bubba horowitz. i like your thinking, buy low, hopefully not stab yourself in the eye with a bic pen 10 years from now so tell me? >> what's up, liz? trying to collect a falling knife. the company makes money. they pay a good yield. this is panic. the volume is 20 times normal volume in the stock today. everybody is jumping ship. if you're looking for value, you want to invest in this market i think in a lot of trouble itself,

after ackman attacked him he went after ackman.ying to develop off that herbalife long position and attacks against bill ackman. i tried to get granular with these folks, what? it could be anything based on their nods, clearing their throat three-times indicating yes, it could be a lawsuit based on reporting false information. it could be, you know, carl can buy back the stock, right? close a short squeeze so to speak. liz: this is a 18-year low on the stock. >> i know. i'm just telling you what they're talking about. i'm not taking sides here. i'm literally telling you what they're talking about. i asked one person who purports to know what is going on and this is what he told me. icahn is planning something that these guys will never forget. so i think game on very soon, okay? we'll see what it is. obviously somebody is going to be right and something is going to be wrong. liz: sounds like a threat from jimmy the two can or a mobster. >> carl is not a mobster. >> uncle carl. he is a tough okay activist investor. >> you know billi

so much for bill ackman and carl icahn burying the hatchet. that hug now a distant memory, because billionaires are back at it. shares of eicahn's firm droppin to lows not seen since 2004, after ackman echoed allegations, tweeting iep premium has been sustained by a large dividend yield, which is not supported by operating cash flows the yield is generated by returning capital to outside shareholders, which is in turn funded by the company selling stock to investors he goes on to say that he is neither long nor short iep stock. icahn responding, saying that, quote, taking advice from ackman concerning short selling is like taking advice from napoleon or the german general staff on how to invade russia, end quote. karen, what do you think >> it's fascinating, i mean -- so many parts of it, the hindenburg thing, it's such an interesting target to go at when you have one very large holder, right? and it is such an interesting structure, so the stock is, you know, obviously gotten killed since the hindenburg thing came out. it rallied when icahn s

ackman took a shot, like mic in the face stuff.ow, there is no evidence and not even carl believes it. just for you conspiracy mongers out there, revenge is coming, at some point soon. back to you. >> thank you, charlie. microsoft, let's take a look at that because there is so much discussion about a.i. stocks. of course microsoft is the biggest investor in openai which is the organization behind chatgpt. it is push me, pull you type of day. we have it down slightly 2/3 of a percent at the moment, despite the fact that wedbush is saying artificial intelligence colab with openai chatgpt is the game-changer. our "countdown closer" says you know what? pick the tech driver to put in your portfolio. we have shelby here. is it microsoft a.i. transition. >> we're a fan of microsoft at "motley fool" asset management. we hold it in the fool 100 fund. because they're a large-scale competitor in this space, they are well-positioned to really capitalize especially in this a.i. race in the long term. of course they're facing these sort of but t

francine: bill ackman also weighed in. tom: he has been banging the drum for a more holistic solution saying this is a problem they could have solved at the time of the svb collapse and saying from that one weekend you saw all confidence eroded. as soon as the regional bank disappoints, that sets off this trend of investors fleeing deposits. tom: ackman has been consistent on this for blanket protection around deposits to restore confidence. it was interesting to have former fed presidents coming out as well and flagging their concerns about u.s. regional banks. tom metcalf, thank you very much indeed for the latest on that. it has been a big day for autos earnings as well. vw, bmw, and ferrari part of the mix today. vw, really interesting. decent numbers coming through. the top line was a beat. sales numbers from europe and the u.s. but a slide in the quarter of 15%, a drop in china. that is something that they have managed to offset. whether it becomes a prolonged problem will be in question. currently down 5%. this was

pershing square ceo bill ackman and article icahn, of course, the nemesis bill ackman is taking a jab at his old rival, icahn, after short seller hindenburg research disclosed a short position against icahn enterprises yet. we had showed you yesterday the stock had really tanked. ackman tweeting out today there is a karmic quality to this short report that reinforces the notion of a circle of life and death. so today the icahn enterprises down another 20%. the slide in shares also caused icahn's personal fortune to fall by around $10 billion. of course, on paper. eye candied respond to the hindenburg report saying he stood by iep's public disclosures, icahn enterprises, and its performance will speak for itself over the long term. >>> kraft heinz, let's take a look at that one. the maker of big brands such as kool-aid and gel-o -- jell-o beating estimates as higher prices offset volume dedeclines and foreign exchange headwinds. the company also raised it adjusted annual earnings outlook to between $2.83-2.91 a share up from previous guidance of 2.67-2. 75. speaking of foreign exchange

it's the idea that bill ackman tweeted about. you want to push rates higher, then watch the outflow of funds from regional banks and into money market accounts and the like, and that just makes people nervous too. >> i think it does because it always exposes where there could be other risks on the balance sheet because the more that you have deposits outflow the banks have to look at their balance sheets and say, where could we have loan troubles one of the things that came out of the earnings season this quarter is that banks talked about the need to shrink their balance sheets or reposition their balance sheets all that points to is slower loan growth going forward which would likely coincide with much slower economic and thus earnings growth. >> i mean, look. let's be honest. you have been calling more recently for the sky is going to call it's just a matter of when, right? your conviction has been extremely high that we were going to make a u-turn and go lower, and, in fact, we really haven't. now maybe this is the start of s

bill ackman, one of the targets of a well-known stop a couple of years ago with carl icahn on a is calling and saying the hindenburg recent report is a must look at that drop, shares at icahn down 20%. a loss of more than $10 million, -- $10 million, after hindenburg claimed the company is over. it is a big thing for a famed that -- activist himself hindenburg research says inc. icahn, hasn't made a classic mistake of taking on too much leverage in the face of losses, a combination that rarely ends well. specifically at the highlights of the report, icahn enterprises value is inflated by 75% more, they are raising questions about the size court says it has used a ponzi economic structure. they are claiming money has been taken in from a new investors to pay out dividends to old investors. icahn hit back within hours, saying stand by our public disclosures, we believe strongly in hedging our visions to mitigate risk, especially in markets we are living in today. he is calling the report from this well-known short seller, self-serving, and denies all of its claims. haidi: icahn industries is

one of his formal battle participants, rival ill ackman, tweeted about the karmic quality about thist. you are looking at the stock price which dropped dramatically as the report hit. it was a hit his personal fortune as well. this after hindenburg claimed that his company is overvalued. carl icahn, known for starting a cash many a corporate brawl, is accused of a lack of transparency. the report says, you think icahn has native classic -- has made a classic state. a combination that rarely ends well. specifically, hindenburg, the activists short seller, is saying icahn enterprises value is inflated by 75% or more, raises questions about the size of dividend yields, and the way it has been financed. it says it has a ponzi economic structure. icahn hit back with his own criticisms, saying, stand by our public disclosures, strongly hedging our position to mitigate risk in markets we are living in today. he calls the report i hindenburg research self-serving. haidi: it is the latest firm to take a hit from hindenburg area. >> there have been many targets from hindenburg. he tends to tar

also a billing dollars stake nvidia which is the positioning and alphabet day from bill ackman so like trade, if you have the believer, you're making the right move. stuart: even eiffel well sure but that is good news. i know the guy is updating his personal portfolio, what is he doing? >> that is another whale tracking we are doing and he's moving a lot of stocks. when you manage 300 or $400 billion in stock with the most successful investors of all t time, his filing shows omaha's close, his position, his bancorp position but not done with financials opening up capital one position which surprise a lot of people. look at the selloff taking place but did buy into hp q which i thought was interesting, and interesting trade and most people saying why is he keeping his state and paramount global? $3 billion stake given the stock is down 30%. the streamers 30% in one month's time because i can't seem to turn the corner making a profit when it comes to streaming. stuart: can you refresh my memory about apple? did he sell it? [laughter] >> single largest holding so it's worth about 160 bill

we are looking at bill ackman's pershing square. 2 million shares of the class a stock of alphabet. p shares of new york community bank looking at those banks up in pre-market >>> we are watching shares of microsoft and activision-blizzard. this after european regulators signed off on the tech giant's proposed $69 billion takeover of the video game maker weeks after uk regulators rejected that deal we have arjun khapal in london with the latest. why the concern? >> if the deal goes through, microsoft would take the activision games and make them exclusive for the platform there and bringing up anti-trust concerns now both regulators found this would not be an issue in the console market, but regulators found it would be an issue in the nascent cloud gaming issue a netflix style of gaming to stream without hardware consoles what happened was, microsoft took the concerns and moved to offer remedies to the uk and eu saying they would give licenses to be streamed on any cloud gaming platform for ten years. not just microsoft's platform. the eu accepted this saying this is a good deal th

tom: a little bit of schadenfreude coming from bill ackman there in terms of what he's been saying on twitter, that famous head-to-head over herbalife. the team has been busy taken on the adani group. we will keep the responses coming and anymore reaction from carl icahn and the team on the back of this news. coming up, more on the markets. the fed's rate decision is later today. we will get the analysis. this is bloomberg. ♪ >> i would prefer to do what is called a hawkish pause, not race a signal that we are in a tightening stance, because i actually think the banking situation may well be more serious than we currently understand it. tom: the former dallas fed president robert kaplan there on his bed path expectations. manus: let's bring in our guest, head of global fixed income, hawkish pause, that's a bit hopeful, isn't it? the one thing he doesn't want to intimate to the market at this fed meeting is that they are done with hiking rates. how does he frame a hawkish pause that doesn't induce a convulsing in the bond market? good morning. >> good morning. i agree, i think that is

. >>> tech stocks were in focus for hedge funds with bill ackman's pershing square development.nd david tepper raised its stake in uber making the ride sharing app the third biggest holding. he hiked stakes in amazon and alphabet joumanna, one caveat here to the 13-f, it is backward looking with the q 1 purchases it looks how the giants reacted to the banking turmoil it was divided with the stepping in or selling out. one thing that stuck out from the banking perspective were the moves from the bridgewater selling position in the banking giants actually the titans that were beneficiaries of the deposit flight. >> in retrospect at the time, it wasn't the right decision to make i thought making investment into first republic and back then, this is a snapshot from the end of march this is after the decision was taken to sort of guarantee the depositors of silicon valley bank many investors at that time thought it would apply as a blanket guarantee to other regional banks as we found out, that wasn't enough to stem the tide of depositors interesting to see that change one nugget in

ed: there are big names in the market a bill ackman who says there is concern in banking sector. the point bloomberg would make is this selloff in these stocks is not easy to reconcile with liquidity available to the banks. look at the deposit base, this is not silicon valley bank. the proportion of insured deposits are much higher. our audience that is listening, the tech founders, they banked with these names they are trying to work out what is wrong. caroline: a lot of that fear and concern get spread through social media and it is on technology and far easier to become a reality as you are able to whip out your deposits faster but ultimately the foundation of these banks are not nearly as concerning. there is not so much of an isolated focus on one type of borrower or one type of integrated system that linda back to the overall tech ceo but we are still questioning the financial system right now. ed: when jamie dimon stepped in he was confident it will settle things down. coming up we continue the earnings conversation. we to yelp speaking with stephen:. -- speaking with davi

i asked for his reaction he said, quote, taking advice from ackman is like taking advice from russiacountry >>> back to kristina for a look at the key stocks. >> reporter: dish network jumping. the company is talks to sell wireless plans details could come as early as june once regulators confirm dish has met certain milestones. you can see verizon and t-mobile moving in the opposite direction. >>> shares of dollar tree are down right now legal costs from a rat infestation, yes, rat infestation, and an increase in shrink, referring to theft, contributed to that weakness walmart, target, home depot have all cited shrink problems as well. >> kristina, thank you. >>> our twitter question, are you thinking about buying nvidia today if you don't already own it head to twitter to vote and the results after this break new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get started today. meet gold bo

speaking of clout, when carl icahn gets into a stock, he's an activist investor, his battle with bill ackmanman -- think about clout and kind of the raiders at the gates, right? stuart: raiders of the ark, whatever service. susan: yeah. stuart: talk about cisco, they report earnings after the bell. >> disney is all about streaming, so expect streaming subscribers for disney+ to cross 163 million again after losing 2.4 million to owned last year. sales should increase, but earnings will likely fall by around a fifth because of those restructuring costs with 7,000 layoffs over three rounds. parks and recreation should still be doing well. you know the high prices they're charging at disney world and disneyland. i was looking at the margins, 35% margins at the parks. you go to disney world, they're earning a third back more than what you pay. [laughter] stuart: the thing is, the parks are full. >> yes, that's right. also streaming, i think the most interesting part will be what they're going to do with hulu, do they spin out espn. stuart: 4:00 this afternoon, we'll find out. susan, thank you ve

. >> peter: billionaire investor big ackman is calling for a biden challenge from the ceo of america'sargest bank g.o.p. jamie dimon. tweeting jamie can beat dimon in the primary and donald trump in the election. he needs to start now and build name recognition among the broad electorate. he will easily raise millions of dollars to fund his campaign and he knows thousand build support for now dimon is not a know. >> i love my country and maybe one day i will serve my country infantry in country capacity or another. >> peter: we know biden has mosted private campaign fundraisers but his events since announcing have all been in an official capacity. >> peter: mr. president, how is the re-election campaign going? we haven't seen you on the campaign trail yet? >> you haven't? >> peter: not an official campaign rally. >> why not? >> peter: no, mr. president, we haven't. there have been official remarks about white house policies at home and abroad, and, of course, he interacts with some of the folks that attend these official events, but so far no events in early states, no visits to early

yesterday with these in the market and the concentration of bets being made all around ai whether it's ackman, tepper, la font, revealing new stakes or that that he are adding to the existing winds they have tepper adds nvidia, meta and amazon and uber. i want to get you take on how this trade has done incredibly well and the alleged smartest money in the market thinks there's a long runway to go. >> i told you in february, i wrote a blog post about it, we did a segment on it, i told you we are going to have a bubble in ai and i told you that bubble would include not just trash, not just de-spac'd penny stocks but the biggest in the world and their stocks would get caught up in it i told you they would rip nvidia, would rip microsoft and alphabet and anything even close to being related to ai, and the reason is very simple because the technology revolution being ushered in by ai is absolutely real it doesn't mean all of the prices being paid for these stocks will look smart in hindsight but there are people that just cannot not be there. they are questioned about it every day, every charity a

bill ackman says his longtime them in miscarl can icahn -- susan: could be in some big trouble.e of accounting methods with icahn industries down by a third since that-inned -- hindenburg research report. herbalife famously, of course, icahn tweeting that his favorite wall street saying if you want a frerngd get a cog over his stoirld -- get a dog over his storied career, icahn has made many enemies and don't know that he has any real friends. stuart: you should have seem him ban in the 1980s, he was hated. susan: carl icahn was? he's a raider. bavarians at gate, that's what they call him. stuart: susan, good stuff. thanks very much, indeed. china is indeed preparing for a new wave of covid. they could see 65 million cases a week in june. the white house was pressed on what we know about it. roll it. >> i don't have any conversations to speak from, to speak of at this time. of course, we're always monitoring, that's something that we do when things like this occur. >> reporter: does the u.s. feel like it's getting accurate information as a it relates to this wave of covid in chi

adults polled by gallop are concerned about the safety of their deposits, ackman tweets at 7:30, the regional banking system is at risk. is josh right? he's not the only one that says the fed should have done nothing and doesn't appreciate what's happening with the bank story. >> i had a boss and we knew we were going to fire somebody but he said, until you fire him, he's your guy, same thing here, okay so, of course, powell has to say that what is he going to say, the banks aren't in great shape. they're not resilient. >> he could say we're -- >> he didn't say great shape. >> we're cognizant of the issues around the rege fall bank, therefore, we're not going to do anything this meeting and we're going to see >> i do think they should pause. >> like kaplan and rosengren urged him to do. >> if you look at the numbers that came out today, productivity is down, it's down because wage inflation is still there and it's accelerating that we saw from last month that's an issue. so the biggest issue that the fed can't control if it's run away like it was is inflation. that's got to be their

can get on the new apple savings account or what you can get on t bills f that gets worse, the bill ackman warning, if the fed hikes again and people get tantalized by money market funds or yields outside the banking system and moving their money, you kind of, i don't know, keep the deposit flight going that's ban problem. >> i think that's risk for the banks and they've been slow to raise interest rates they have a lot of reserve at the fed so if they need to pull them out they can. the bottom line here is, this is what the fed thing was designed to do, not to unsettle the banking system but make borrowing more expensive to people spend less. in a sense it's not an accident that this is happening and it's surprising, actually, as you made a point earlier, tyler, so many of the bankers seem to be blindsided by this. >> are you seeing as you do your studies in the economy consumers spending less? >> not much. that's one of the things keeping the fed on the rate rising track, is that so far, consumer spending has been surprisingly strong, in part perhaps because the job market has been stron

beat biden in the primary and maybe it's true, but the sentiment behind the suggestion from bill ackman, a very deep pocketed guy, and jamie, very deep pocketed guy should run against biden. clearly some big pocketed folks are not happy with him. >> i think we are in a situation that is unprecedented, in his 80s by 2024, high disapproval ratings and leading the front contender on the republican side is a similar scenario. a lot of voters are dissatisfied with options and probably hear more candidates considered to get in. republican field is not full at this point either. the more the merrier, and good for democrats to have a good debate in their party, too. >> john: more the merrier, expecting chris christie to get in next week, who knows who else has yet to jump in, do you believe that diluting the republican field plays to donald trump strengths? >> no question. look at the math, he has a base, 20, 30% range in terms of republican voters, so it's all to his advantage. now, the problem is for someone like desantis or mike pence is that you get in, and everybody then is looking for the

now even bill ackman is reviving his billionaire feud with icahn. target pulling mere.to customer backlash now there is a backlash to the backlash where will this all end? >>> and right

. >>> battle of the billionaires bill ackman firing a warning shot across the bow of icon enterprises>> what memorial day travel will look like at the airports we'll talk about all of it as the second hour of "squawk box" begins right now ♪ >>> good morning welcome back to "squawk box" right here on cnbc, live in times square andrew ross sorkin along with becky quick. joe is off we have a lot of news. u.s. equity futures at this hour looking up, maybe on the back of some positive signs around the debt ceiling we'll talk about that in just a moment dow up 60 points nasdaq up 43 points. s&p 500 up 7.5 points. look at treasuries, though, of course that's been perhaps our greater indicator of where things really stand. the ten year note 3.78 is. 2-year 4.487 and short-term yields, one-month t-bill, 5.975% is the yield you can get on it. >> the weird thing, even if you go back to the 2-year ten-year, that's bager inversion again because you're talking about the 2-year at 4.5% i don't know if that's reflection of signaling recession is more than likely. it's been signaling for a while. or i

su: now he is in one, and one of his rivals, bill ackman who was a previous target of one of icahn'se said this report, he tweeted out has a karmic quality. a hindenburg report named the title icahn enterprises the corporate reader throwing stones from his own a glasshouse. , look at the stock it dropped right at the open. the report hitting t around 8:00 a.m., u.s. time. the stoxx closing down 20% by the end of the day. a huge hit to icahn personal fortune, a loss of $10 billion after hindenburg claimed the company's overpriced and also, we think icahn, a legend of wall street has made a classic mistake of taking on too much leverage in the face of distant losses, a combination that rarely ends well. now, specifically, if you look at the highlights of this lengthy report, hindenburg, which is an activist short seller says icahn enterprises value is inflated by 75% or more. it the size of icahn enterprises dividend yields and the way they are financed. it says it uses a ponzi like economic structure, using money from new investors to pay out dividends to old investors. icahn has deni

. >>> the 13 fs revealing moves by tepper, ackman, penalties, you name it. >> more on tesla ahead ofting later today. big show still ahead don't go anywhere. dow down about 250 >>> welcome back widespread reports this morning that the federal trade commission is poised to block amgen's purchase of horizon therapeutics, a deal announced late last year, 116.50 cash, $28 plus billion, one of the larger transactions we've seen. and not expected to really get a particularly tough antitrust review, in part, because there are no overlaps between these two companies and there was not seen to be a significant hurdle to mount when it comes to convincing the antitrust authorities that the deal would be somehow anti-competitive. but in this day and age, that doesn't mean much. widespread reports have the ftc commissioners voting or will vote to block the deal that said, my understanding is, people according to people familiar with the situation, that those commissioners have yet to meet or vote and there has not been a decision. but one can imagine, given the journal, bloomberg, capital forum, s

and medium-sized, count on region regionals and community banks and that's why we're hearing bill ackmannd necesslson peltz suggest these need to be raised. >> if the fdic doesn't get in a room and says, temporarily, we have to raise to a million, if you have your money in any of these banks, if you have -- i mean, i have run at various times charities, and i can't keep more than $250,000 in any of these banks that would be -- that wouldn't be a fiduciary >> remember, if you were going to go to universal deposit insurance, you need an act of congress to do that. that's legislation that's a long time >> could you have a temporary levy on banks in order to be able to get through this >> the other thing i'm told, you know, that fed program that was unveiled, maybe it was a week after svb, or even less, where the banks were able to pledge collateral to the fed, told that has been fairly stringent and there are a lot of ways that could have been -- whether it's duration, rate, or collateral, that things could be toggled there. >> there were people who said, this is -- >> there were banks that

phil ackman says hindenburg has outed the way billionaire carl icahn runs is publicly traded company.el since 2009. he said icahn enterprises reminds him of the family office that blew up in 2021. global news powered by more than 2700 journalists and analysts in over 120 countries, this is bloomberg. ♪ ♪ (upbeat music) ♪ ( ♪♪ ) ( ♪♪ ) ( ♪♪ ) -awww. -awww. -awww. -nope. ( ♪♪ ) constant contact delivers the marketing tools your small business needs to keep up, excel, and grow. constant contact. helping the small stand tall. and your store was also the first time you realized... well, we can do anything. cheesecake cookies? the chookie! manage all your sales from one place with a partner that always puts you first. (we did it) start today at godaddy.com >> i would say all of the soft data but predominantly manufacturing pmi will understate moves in the actual data in the economy to real gdp growth. we are still facing, it -- we are not entirely out of the bottleneck. jonathan: cool to catch up with citibank. let's get to the latest price action in the equity market. on the s&p 500, equit

. $1 billion bet on alphabet from bill ackman's pershing square. it bought 10 million shares in the first quarter. david tepper bought alphabet raising the stake to $200 million. that was the top holding the firm boosted holding in uber by 390%. that makes uber the hedge fund third largest holding. the firm took a $20 million stake in cathie wood ark innovation fund. >> cheaper david einhorn bought 3 million shares of bank corp and first cit citizens bank. greenlight bought 22,000 shares. joining us to fwtalk about somef the big bets is victoria greene. a cnbc contributor victoria, what stands out for you at this point? buffett is always interesting. i think the ark investment is interesting, too >> it is a bit of a bet on thematic it was a big play on tech which was the winner in the first quarter. nvidia and google twere big winners. you did not see a lot of regional banks not a sign of confidence in hedge funds. i think those two things were what stood out the most. a.i. piece being the winner and that really didn't see people coming in and sayi

ackman today be quick thank you so much it's great to see you. thank you again chairwoman for the opportunity to introduce my constituent greg who has hails from michigan this farm for 38 years grows and dried beans, sugar beets, corn and soybeans today is joint as a past chairman of the michigan dean and delegate to the dry being counseled. thank you so much for being here. look forward to hearing your testimony. welcome cody carson past chair of the sorghum's producers. cody and his wife operate a farm in texas where the growth wheat and produce counter. cody currently serves as past producers, welcome. then i'll like to welcome mr. brent cheney am i saying her name correctly? thank you. president and association of wheat growers. mr. chen we gross presidents, a farm organ or heat races wheat and barley and alfalfa and think next welcome to mr. blake thank you very much. vice chair of our co-ops. like his family operate a 500 cow dairy infarct 1200 slogans in the art. currently serves as vice chair be cooperative. we have mr. rich hillman of he