running the faster growing arconic.der pressure from elliott management, which owns over 9 plus percent of the stock, or currently does, involved in a nasty proxy fight that put pressure on the board of directors. a board that included some previous nominees of elliott's. but seemed to be staying together and seemed to be cohesive it would appear -- previously that they were sticking with their man, mr. kleinfeld. and what we get from the press release this morning is this one line that i have yet to really fully be able to learn exactly what went -- what happened. but they say he stepped down by mutual agreement after the board learned that without consultation with or their awe authorization, mr. kleinfeld had sent a letter directly to the senior person at elliott management. they say that showed poor judgment and that apparently was enough to spell the end of his tenure immediately at arconic. certainly this has been an intense period for this board of directors. you can say that you're all together, but they have be

arconic. first the video of a man being dragged off a plane, now another pr mess for united and it comes just as the airline gears up for earnings in just a few hours' time. what investors need to know. and facebook facing heat after a man posts a gruesome video, him committing murder. this isn't the first time violence has been broadcast in the social media platform. just how bad will this be for facebook? "power lunch" starts right now. >>> and welcome to "power lunch." i'm michelle caruso-cabrera. as you can see investors are shrugging off geopolitical fears. the three major averages all having their best gains of april. the dow high er by triple digit, 113 points. nasdaq and s&p, all three of them higher by more than half a percent. amd, nydia, netflix higher by more than 3%. boeing is the biggest winner of the dow higher than 1%. the company is planning more job cuts affecting hundreds of engineers. let's get you to the trading action. bob pisani joins us with more. bob? >> reporter: hell

let's -- dom chu with arconics's earnings. how do they look? share versus 24, revenue at 3 billion, but, of course, the numbers are playing second fiddle these days to the development at arconic, spunoff from arcoa, downstream or value added engineer product side of the aluminum business, make aerospace parts, and klaus and ceo of arconic was dismissed from the board of directors for improprieties that happened with elliot mountain there. i will tell you guys, sara, bill, aside from the top line and bottom line numbers, there is yet no mention of elliot management or klaus in the release. of course, the conference call may be a completely different story. that happens at 5:00 p.m. eastern time today. a conference call that i'll be on listening very closely to to see if there's any mention in there whatsoever, bearnings bea, stocks beat, moving up after hours session, and we are watching and listening closely for any mention what happens going forward with that activist investor elliot management and what happened to the former ceo, guys, back t

the board at arconic so there's a rallying cry at least from the arconic side., saying it would be a change in control and they're saying well, they had three. now they will get another four, that's seven. you're giving them control of the company. those three have been independent to be fair. but, yeah, it's unfortunate. you know, when they go through your garbage, knock on your neighbor's doors, just got to accept it's part of what happens in a proxy fight. maybe it shouldn't but that's the way it goes. >> ill advised move. i would point out i think this is important, they report tomorrow. so those who are buying with the expectation that this could be a big win, the previous quarter for arconic was not a good one. it's entirely possible this is not a good one. understand you're doing it because of a proxy fight, maybe this was -- maybe it was a miraculous quarter and klaus wanted to deliver, but that's not the way he's done it. the split is pro wa, the old -- >> alcoa tonight. arconic tomorrow. >> right. >> really quickly, jim, the banks here as odds for a ju

oddly, arconic gave its name to the spinoff, choosspinoff,. arconic -- with elliott management trying to unseat the ceo clarence klein feld, and replace him with larry lawson, we own arconic in my travel trust, and it wouldn't -- that makes the stock a little fraud at these levels. even if it's down 4 bucks from its high. it's too cheap on the possibility of a takeover, which i know the elliott guys would like to try something like that. but it's too expensive on earnings. first quarter's fourth best performer? this one's a lot easier, it's active vision blizzard. the game developer. we like to talk about big themes on this show, and video game makers like activation blizzard, they uniquely fit into the stay at home and entertain yourself thesis that has made a ton of money for viewers on this. of all the winners so far, this is one you can buy right here, right now and buy even more on a pull back. remember we thought about take two, how good that was. finally at number 5, there's e' ncyte report. that comes on the heels of a similar deal wit

we want to economic in with jim on arconic. more from post 9 in a minute.he power of a low volatility investing approach. the power of smart beta. power your client's portfolio with powershares. before investing, consider the fund's investment objectives, risks, charges and expenses. call 800-983-0903 for the prospectus containing this information. read it carefully. distributed by invesco distributors inc. containing this information. read it carefully. hey you've gotta see this. cno.n. alright, see you down there. mmm, fine. okay, what do we got? okay, watch this. do the thing we talked about. what do we say? it's going to be great. watch. remember what we were just saying? go irish! see that? yes! i'm gonna just go back to doing what i was doing. find your awesome with the xfinity x1 voice remote. >>> published reports say fox is preparing to cut ties with bill o'reilly and that he's unlikely to return to the primetime talk show as he has been the focus of sexual harassment allegations. as a result, many companies have pulled advertising from these progr

we'll watch the trading on arconic and a bunch of other names. going to have the best day of the year, even of the decade. we'll get cramer's "mad dash" and count down to the opening bell when "squawk" comes back. nf the customer app will be live monday. can we at least analyze customer traffic? can we push the offer online? brian, i just had a quick question. brian? brian... legacy technology can handcuff any company. but "yes" is here. you're saying the new app will go live monday?! yeah. with help from hpe, we can finally work the way we want to. with the right mix of hybrid it, everything computes. so what else is new? humm..she's doing good. she needs more care though. she wants to stay in her house. i don't know even where to start with that. first, let's take a look at your financial plan and see what we can do. ok, so we've got... we'll listen. we'll talk. we'll plan. baird. [he has a new business teaching lessons. rodney wanted to know how his business was doing... ...so he got quickbooks. it organizes all his accounts, so he can see his

arconic wants to settle its proxy fight with elliott management.ompany is giving elliott which owns a 13% stake until tomorrow to rerespond. this a week after arconic's ceo resigned after sending a letter to the shareholder. these letters went back and forth yesterday, a new series of letters, got personal all over again. they said she thought they had a deal, then they didn't have a deal. >> arconic thought they had a deal with -- with elliott? >> paul singer thought he had a deal with arconic, then might have asked for more. trying to create an operating committee that didn't exist before where he has majority control of the operating committee. arconic sends them a letter, sends elliott a letter saying we appreciate your statement that you're prepared to overlook this contest more personal elements, we feel such personal elements do not belong in this contest. having said that we must add we don't believe your firm was chosen to rise above these attacks, to the contrary your elaborate fight deck has a number of personal attacks against the forme

arconic shares rose. >>> the maker of cape cod potato chips said chief executive carl lee was retiring. and would be replaced by interim ceo and current board member brian driscoll. the company also warned earnings for the current quarter would likely miss expectations, partly due to increased promotional spending. >>> and china based amp financial offered to buy money gram. an affiliate of ecommerce giant alibaba raised its price by nearly 40%, valuing that revised deal at nearly $1 billion. shares popped more than 7% to $17.79. >>> the hospital operator hca holdings issued a bleak outlook for the current quarter, warning profit and sales would miss estimates. the company cited fewer hospital admissions and more patients on less profitable government issued plans. shares fell more than 2% to $85.65. >>> boeing meantime is planning more job cuts. in a memo to employees, the aircraft maker said it would lay off hundreds of engineers in its commercial airplanes division. the latest cuts are expected to take place in june. shares of boeing rose nearly 2% on the news to $179.02. >>> walmar

arconic cited the letter as the reason kleinfeld was stepping down. >> that's interesting. i had been wondering since we heard about this letter, what could he write to make them say forget it, we question your judgment. >> interesting watching fox news cover this. brett baer does straight intros, the howard kurtz, who then did a completely scripted, very straightforward read of how this happened. o'reilly had a lot of interesting mannerisms. i thought about doing a caution, or something like that. you can't. you have to do it straight. fox news is parting ways with bill o'reilly following sexual harassment allegations. 21st century fox, the parent company of fox news releasing a statement saying the agreement was reached after a -- in their words a thorough and careful review of allegations. o'reilly calling the move incredibly disheartening. the star host came under pressure after an article by the "new york times" revealed that 21st century fox paid $13 million to settle harassment claims against him. since then more than 50 advertisers abandoned his show. according to f

charitable trust owns arconic. >> what do you have tonight? of the companies that have been fabulous are selling off. jim fish tells a pretty good story. then we're up all night because we have earnings. >> and we'll see what we get this afternoon. >> yes. >> we might talk to you before 6:00. >> thank you, cnbc for supporting lisa dettwiler for the brooklyn historical society. it meant a lot to us. >> very nice, jim. >>> when we come back, the speaker and the house gop leadership hold a news conference on the day in which the president is set to announce his tax plan. the dow is up 26. hey, the future, what's her problem? apparently, i kept her up all night. she said the future freaks her out. how come no one likes me, jim? intel does! just think of everything intel's doing right now with artificial intelligence. and pretty soon ai is going to help executives like her see trends to stay ahead of her competition. no more sleepless nights. - we're going to be friends! - i'm sorry about this. don't be embarrassed of me, jim. i'm getting excited a

of alcoa, spun off the two, arconic provides the products.c and in january urged the board and klaus fine felled to resign saying he under performed against every relevant benchmark during his tenure. he fought back and did not resign but now he has. the stock continues to move higher. drug makers front and center today, down hard by a combo of about 16%. the joint drug they wanted to bring to market for rheumatoid arthritis did not get approval by the fda and now will be another eponingsly. the fda wants more information on dosage as well as safety. that hurt the growth rate of 5.1% over at eli lilly. the competition relatively flat, a little bit of support though because their rheumatoid argue right is drugs have less -- arthritis drugs have less competition. julian emanuel the biggest bear on the street. here's how he stacks up. these are the median s&p estimates for 2017. the high is actually now 2700. boost it a little higher thanks to morgan stanley. mike wilson over at that shop. the low around 2300 which is julian emanuel and where we

arconic, i think that's how you presumption of innocence it. old aluminum company of america, if you remember. the chief executive there has resigned following pressure from a hedge fund management company. they wanted to overthrow the board's directors, apparently they're going to do that and the stock is up a buck. arconic up 27. look at amazon. raising the price target to 1,050. the old price target was 1,050. the old target was 900, they passed that. they move on to $1,050. amazon reports its results april 27th after the market closes. watch that. now this. new study from heritage says if president trump manages to repeal dodd-frank, he could add $340 billion to the economy. can fine joins us in a moment. he's a banker who met with president trump at the white house. and watch out, california drivers. apple receives a permit in california for test-drive cars on public highways. watch out. we'll be back. >> i'm nicole petallides with your fox business brief. after over 138-point loss on thursday and stock futures started off in the red, thin

arconic.ideo of a man being dragged off a plane, now another pr mess for united and it comes just as the airline gears up for earnings in just a few hours' time. what investors need to know. and facebook facing heat after a man posts a gruesome video, him committing murder. this isn't the first time violence has been broadcast in the social media platform. just how bad will this be for facebook? "power lunch" starts right now. >>> and welcome to "power lunch." i'm michelle caruso-cabrera. y

. >> look at shares of arconic. shareholder pressure pushing klei kleinfeld to step aside.squawk alley" will be right back. can we push the offer online? brian, i just had a quick question. brian? brian... legacy technology can handcuff any company. but "yes" is here. you're saying the new app will go live monday?! yeah. with help from hpe, we can finally work the way we want to. with the right mix of hybrid it, everything computes. ♪ >>> hedge funds off to a strong start for 2017 and one of their best in nearly four years. let's send it over to leslie tracking it back at hq. this is a bit of a change. >> that's right. things are looking up for hedge funds. the industry posted its best start to the year since 2013. that's according to the hedge fund benchmark. the gauge showed hedge funds gained during the first quarter and 11.6% for the year. the performance comes at a pivotal time for the industry as hedge funds managers face redemptions and pressure on fees so does first quarter performance signal new life in the hedge fund industry? potentially. despite gains, hedge fun

. >> arconic's quarterly results topping street's estimates.hey saw a 4.5% sales bump from a year earlier. >>> texas instruments posting a 13.1% revenue increase for the latest quarter beating analyst expectations. the chipmaker saying its positive results were driven by continued strength in enindustrial and automotive markets. shares down three quarters of a percent. >>> wynn results reporting a first quarter profit. the macau unit seeing a 26% jump from net profit from a year earlier thanks to higher casino revenue. the company telling investments it plans on starting construction as early as december on the first paz of the 1$1.5 billion paradise park. i have booked a trip to vegas in october. >> you love vegas. there's so much more to see in the united states. >> including vegas. >> fine. >> one night in vegas on the way back from california. >> just keep it there. whatever happens there, stay there. >> booked for the first weekend of october. i cannot wait. >>> coming up, the maker of ugg boots considering a possible sale. we'll tell you

. >> i am looking at arconic. cloud out. today on the idea of maybe the site won't advance as well because one of the main goals. i think it's worth a look. >> i am a buyer of coach. i think they will do amazing things for their story there. buyer of coach here. >> six blocks southwest, we got big game tonight. >> oh, i know. i can't wait! i cannot wait for that. what sport are we talking about? >> talk about a down day, steve wynn. >> giddy up. >> i'm mellissa lee, see us back here >>> my mission is simple. to make you money. i'm here to level the playing field for all investors. there's always a bull market somewhere and i promise to help you find it. "mad money" starts now. hey, i'm cramer. welcome to "mad money." welcome to cramerica. other people want to make friends, i'm just trying to make some money. my job is not just to entertain you, but to teach and coach you. this show, this show is based on

as's take a look at arconic well. the stock was up yesterday on client filled exeter, it's rented a little lower. the day now down to 40%. jpmorgan says it perhaps was good news that elliott and client filled departed. the stock is up year today, so positively test positivity from jpmorgan. oliver: julie hyman, thanks. scarlet: there seems to be more cracks appearing in the trump in wayne,rospects funds focused on muni bonds receiving a $1.6 million infusion of cash last week. the flood of cash follows a rally in bond prices over the past month, sending yields lower. for more insight, we are joined by david hunt, ceo of prudential financial. it's great to be here. isarly money and equities flowing into the muni bonds. is this over? mr. hunt: we have never been great believers in the trump trade. our senses that rates are going to stay longer for longer period of time. the markets have gotten ahead of themselves and pricing in these changes, which are going to be very complicated and difficult to carry out. in any even

that's where arconic is applying this right now.business for that company. this is one of the ways alongside a broader push in digitization and automation that this company in the midst of activist investor pressure is cutting costs and looking to boost its profit margins. and of course, growing market share. guys? >> i learn, morgan, by the way, that's how alcoa got its start was back in the '20s or something coming up with some way to use aluminum in planes, and you know, so -- you know, it almost feels like with this 3-d printing like it's so new. but maybe this is just the next, you know, different thing. >> i'm glad you brought that up because i was talking to the folks here yesterday. and they said that they started experimenting with 3-d printing in its earliest forms almost 30 years ago. and that they've been really seriously looking at this for about 20 years. now the metal part of 3-d printing, which is how, you know, a part like this gets made, is a much newer technology that's really become much more in force in the last

elliott, arconic, maybe i'm going too far with this. maybe a woodstock feel.>> we had some earnings from united and netflix this hour. netflix has just gone positive. you can see them hugging the flat line there. the numbers for the current quarter they issued an upbeat number for the following one. and united as well which was higher after reporting its results. tomorrow we have financials with goldman and bank of america. we'll tell you why earnings could be a positive catalyst for this market which doesn't seem like it needs one after today. d. say hello to the new unlimited data plans from at&t d. and never pay overages again. so now the whole family can binge,... ...surf, shop, navigate, listen, game, stream and more. all without the hassle of worrying about overages or running out of data. only with at&t, you can now get unlimited data with hbo included. and remember, it's our best, wireless unlimited deal ever. so get at&t, get unlimited and get everyone more for less. ltry align probiotic.n your digestive system? for a non-stop, sweet treat goodness, h