bill ackman by the way has no comment.'re kind of in that web. mr. arkin puts bill ackman in that web. not saying he did anything wrong. proving white-collar crimes is difficult. i don't know bill ackman anything but a very opinionated hedge fund manager. just to shed less credibility on that notion, he came in kind of late on the board but there is other people like mr. pearson and others obviously more directly involved in the process. all of them from what i understand, mr. arkin and some other lawyers, they are going to be under scrutiny. again none of them have comments. we reached out. you guys want to call me, tell me, stanley's wrong, call me. i will come right back on the air and say that because we don't -- in my view is, these are difficult cases. i don't believe anybody is guilty until i hear they're guilty, just so you know. liz: thank you. charlie gasparino with valeant falling 10%. closing bell seven minutes away. big names going for the gold in the market with the dow up 130. small cap stock frank again --

bill ackman supported this story this morning. completely contrary to what ackman said today, i have never given jerry's an order to sell. he bought 2.3 million more. the share's up 4% afterhours. mike and evan, thanks for joining us. we'll hand it over to "fast money" right now. >> "fast money" starts right now. live from the nasdaq market site overlooking times square, your traders on the desk -- tonight, shots fired. billionaire investor carl icahn shooting down ackman's quhents saying not only is he not selling stock, he bought more today. we'll have details. plus, morgan stanley betting the farm on amazon, one business that could senn the giant soaring down to road to its next trillion dollars and later, health care stocks gets smoked on the heels of mylan's controversy. first, we start with janet yellen. steve liesman is on the ground where it all took place in jackson hole, wyoming. steve, she? >> well, she was clear i thought this her keynote speech here at the meeting that rates will likely rise soon. here's from the speec

has so much news. >> we asked bill ackman to come on to the show. guess what his flak said? did his flak say? >> no. ashley: no one says no. >> show cnbc a little love. i promise i won't bite, bill, but i won't do what cnbc does which is hand you the mic and allow you to take it away, jack. listen, he has a position. not saying anything wrong. he might be right ultimately. ashley: made the invitation. >> journalists should give both sides of the story. ashley: charlie, thank you very much. breaking news at this moment. oscar and golden globe actor, write err, comedian, gene wilder dead at age of 83. his family confirmed that. wilder best known for his role as willy wonka and many mel brooks comedies, the producers, "blazing saddles," "young frankenstein." >> some knockers. ashley: thank you, charlie. comedian richard pryor in four flames. gene wilder dead at age of 83. we'll be right back. there's a lot of places you never want to see "$7.95." [ beep ] but you'll be glad to see it here. fidelity -- where smarter investors will always be. if only the signs were as obvious whe

bill ackman, largest shareholder denied it, said it wasn't on the table. right price. the problem they have on fire yard sales you can't get best price. liz: they know you're desperate. >> that they always underbid. they probably should have sold it back then when they first started thinking about selling it and not waited so long. they probably listened to ackman, put it aside and not actively shop it. but now, they might not have any choice. this is a heavily indebted company, with a business model essentially blown up. the old business model, which involved, basically selling high-priced drugs. that's what it was. it came under a lot of pressure. liz: bought stock closer to $100. >> what is his average cost? liz: i think 96 to 100. >> where is the stock trading at? 26? this is not good year for him. ackman has taken a beating on valeant. taken a beating on herbalife which he continues to call and pyramid scheme which the ftc has not shut down. they found some problems. we'll keep you abreast. liz: you have something else. >> this is wall street show. we

bill ackman supported this story this morning. ary to what ackman said today, i have never given jerry's an order to sell. he bought 2.3 million more. the share's up 4% afterhours. mike and evan, thanks for joining us. we'll hand it over to "fast money" right now. >> "fast money" starts right now. live from the nasdaq market site overlooking times square, your traders on the desk -- tonight, shots fired. billionaire investor carl icahn shooting down ackman's quhents saying not only is he not selling stock, he bought more today. we'll have details. plus, morgan stanley betting the farm on amazon, one business that could senn the giant soaring down to road to its next trillion dollars and later, health care stockset

working out credit facility, that got upended while in middle of this four year i im broguely yo with bill ackmanint they have to make a decision. there are people inside of the company that want to sue ackman. there are people inside of that company, that these are not just watercooler people. top executives who think what ackman did crossed the line from regular criticism to just throwing out absurdities. >> he had websites. made films. tried to get connie chung -- >> that is part of the first amendment. you're allowed to do that. liz: of course. >> they think he stepped over the line. he would say no. he was calling attention to what he believes is a huge scam. we do have a call into ackman's office. he did not get back to us. herbalife has no comment. they're not denying lawsuit aspect. clearly it is on the table. liz: charlie gasparino, on herbalife, closing bell, eight minutes away. leads of change weeks away as summer turns to fall. closer says don't trim away the portfolio by trimming off those branches. the dow is down 84 points. (announcer vo) who says your desk phone always has to be a

the reason i reached out to him, bill ackman mentioned on "squawk box" this morning, that fidelity hadts position in herbalife which is a fact, they paired their position down, and maybe people like bill would be looking to do the same. i can tell you in a conversation i had a few moments ago with mr. sterritz he still holds shares of herbalife and would not characterize the size of his position, whether he has sold any of those shares just saying that he believes in carl icahn and he continues to believe in the herbalife business. it's another little piece of the story as we continue to follow these large holders of herbalife and what they may be trying to do with their positions, carl icahn and bill stir ritz included. >> how long until we get icahn's reaction to ackman saying i think he knows it's toast? >> maybe when the alarm clock goes off. i think we're still -- we're still waiting. look, i've tried to get in touch with carl as much as probably the rest of the free world has this morning, if i hear back i'll certainly let you know. maybe you'll hear before that. i would like to

go long™. ♪ ♪ cheryl: herbalife going on the offensive against bill ackman for the second time in a weekorts nutrition company releasing a second attack video. looking at it now, attacking ackman's investments and using news clips accusing him of costing his investors millions of dollars. joining us now to react. charlie gasparino, charlie in d.c. >> i'm reporting from herbalife that's located in burbank, california, i believe from d.c. how do you like that? in any event i'm here for interesting sources and stories what is going on with the campaign a lot going on with herbalife, under fire from bill ackman the short seller. worth zero. being propped up by carl icahn the great financier who thinks it is worth more than zero. herbalife is fighting back on some of ackman's claims it is pyramid scheme. continued claims. putting out promotional material attacking ackman. second one came out today. one came out yesterday. this is kind of interesting about this we talked to one of the big bulls on the stock, tim ramey, one of the top analysts. he is coming out, very rare for him to criticize h

why do we put bill ackman's name on there? he is the big share hold.here it gets interesting. i believe he is on the board now. t. rowe price filing a lawsuit bense valeant this is civil we should point out, saying the company engaged in a civil fraud scheme and the pricing method it used with philidor, the online pharmacy where you could buy some of valeant's prices, that the pricing method and reimbursement practices artificially inflated pricing, and the results, that essentially is fraud. basically the valeant exposed shareholders like t. rowe price to massive risk. look at the price today. it continues to go down. liz: which is weird, charlie. it was up on news it would get from a lender, amended credit facility. they probably woke up thinking valeant is okay and immediately reversed on the fraud lawsuit. >> it's a civil fraud lawsuit. it is not the government. why am i being rapid for 35 seconds? let's be real clear here. with these civil lawsuits mean. t. rowe price can't put anybody in jail. but what t. rowe price can do and say it was given fr

that morning bill ackman on herbalife, famous short who makes money if the story goes down.one-sided report that he was offered some. shares carl wanted to sell. he believed carl was selling out immediately, he believed the company was toast. paraphrasing. that is essentially what he said. the stock took a dive on friday early in the morning. what we did at fox business was try to put together the whole scenario. first off, very odd if someone trying to sell his stake a block trade like that would be publicized before the block trade was put out. that was my first warning signal talking to people. this doesn't make any sense. for all i know he dangled it and said, for 100. connell: got a price. >> that is weird. if you're not getting carl on the record about his intentions, you better caveat anything bill ackman says. connell: fairly accessible guy. >> usually accessible. what he was doing that day as they were yapping about it on cnbc and driving the stock down, he was accumulating shares. we knew on friday night, he comes out with that statement. now listen, every reporter

bill ackman's big win, the manager selling out of canadian pacific, an investment that will go down as one of the biggest windfalls of his career. i spoke with him a short time ago and he told me peshing squair made $2.6 billion on canadian pacific. he said it's a great example of how shareholder activism can create -- he's taking a lot of heat. this is an unquestioned big victory. >> this was a $2.6 billion score. take a look at this name. they first got into it in september of 2011. they built the stake over a course of a month or so with prices ranging at about $63 with the average price $55. after putting new direct orreor the board and being involved with that, they began selling stock 6 million shares in late 2013 at about $142 a share so they're up about $90. two more sales in the years that followed at a higher price range and then the $9.8 million share yesterday. they made most of their profits, roughly $2 billion on the stock's performance but they also benefitted from a currency hedge. they will use the proceeds of the sale to make one or more new investments in the main fu

icahn a 17 million stake in meshal life making him top holder in a consortium of investors and bill ackman considered being part of that. called ackman asking whether it was true, and also why. he had this to say. >> they came to me said, if you have interest in overing your position? absolutely not. sort of laughed about it. then said, well, obviously we can get carl out, that will help you. >> true. went shopping for -- went looking for potential buyers and my thinking was, one, no obligation obviously to hold the shares. the trade done at 4:15 wednesday. thursday morning, sell my entire stake a new position. >> ultimately ackman estimated he might have lost $30 million flipping that stock. a price willing to pay to get carl icahn out. icahn, ackman said, knows the company is toast. ackman's words. after a federal trade commission settlement july 15th requiring changes to the company's business practices. ackman's view is that the earnings will erode once the changes are made. meanwhile, billion dollar short position trading at a multiyear loss. shares down about 16% since ackman went sh

journal, billionaire investor carl icahn recently discussed selling his steak in hedge fund rival bill ackman. sources tell the journal jefferies group has been looking for buyers for 18% stake which is worth $1 billion. the newspaper says the status of the cost and the names of other investors who may be involved not clear. carl icon may end up selling nothing. that is a look. nicole: in the wall stl cars fa, an attorney for the company says most diesel powered vehicles on us roads can be retrofitted to comply with air pollution regulations that larger vehicles -- a texas jury says gm ignition switch wasn't to blame for a fatal crash. general motors is trying to settle dozens of similar claims. mobile bank heist, hackers target your phone. cyber thieves using malicious programs like a scarred to gain access to consumers bank account. nicole: hillary clinton condemns for-profit colleges but bill clinton and the clinton foundation have made a lot of money off of them. >> on behalf of for profit organizations, her family personally benefited to the tune of $17 million. that is a lot of money. n

they tried to put together a consortium of buyers and along the way approached bill ackman if he would be interested and he briefly considered it. the reason i'm talking to you right now is i got ackman on the phone this morning. he called into "squawk box" and i interviewed him. and he basically said, yes, this is true. and, yes, i considered buying a few million shares, maybe 3 million, because i want carl out. i'm still short the stock. i still think it's going down, if not to zero and if it's a means to an end, i buy a few shares plan to sell the next day just to get carl out, that's great. it's great for the stock. and it says to ackman, anyway, the fact that icahn would want to sell that the stock is toast. >> sure. herb, do you think that's right? does this mean that the stock is -- that's what icahn thinks at this point? >> look, i don't know what icahn thinks. i know what i would think he would think because at this point as i've said on air and i've said other places, mainly social media, is that i think herbalife with this ftc settlement is a broken business model certainly

they say it shows how, in their words, bill ackman's hubris drives, making unsound decisions costing s investors hundreds of millions of dollars. the company said, i quote, for close to four years big ackman launch add well-funded aggressive market manipulation campaign filled with false statements to support his reckless $1 billion bet against herballife. jim, get your take on this whole thing. really, this amazing news on friday. >> yeah. i was thinking of it the whole time. >> it started with akman on cnbc and then ended with icahn buying more than 2 million more shares. >> one of the things that could be happening is jefferies, rumored, aggressive firm. mean it in a positive way. make a lot of calls. love to cover that. the handler is terrific. i thought this is possible. you could show, could show a bid to carl. say a buyer, multiple seven-figure buyer and mulls it over. word gets back and ackman did something you're not supposed to do. talk about the actual buying and selling of stocks and naming names. the protocol is the not to do that. was this something pitching him saying,

. >>> huge victory for bill ackman. i spoke to the hedge fund manager a short time ago.at he's saying. >>> big call on a stock we've been telling you about now for a week. you won't bereave why this analyst is getting on board now and on the eve of the olympics, halftime competition between underarmor, nike, and iowa dees who takes gold, silver, and bronze. >> sounds good. >>> meanwhile look at shares up first hawaiian which just opened for trading. priced at $23 a share. that was the high end of the range yesterday after the close. stock is currently up close to 5% after the open. just a little bit over a dollar and change. remember they raised about $485 million to honolulu based bank used to be owned by them and it is all shares being sold by them in today's offerings, still stock up 5%. >> and the redstone family and viacom soap opera continues. national amusement just out with a blistering statement and we have more on that story, julia. >> hey, andrew that's right, national musementings which is owns a majority of viacom shares coming out with a criticism of the co

we'll see. >>> carl icahn, bill ackman back bickering over herbalife for years. we're learning mr. g to off-load his stake in the company. here is the catch. ackman, his arch nemesis who labeled it pyramid scheme could be one. potential suitors. say what? here now to give his take, charlie gasparino. >> earlier in the week there was market rumor purely that carl icahn was selling his stake in herbalife. ashley: yes. did he say why? >> he never answered my call. i did a story that said this and you can rewind the videotape. herbalife, company officials said he is not selling the stake, they don't believe he is selling it. they were very honest. they said it on the record. carl did not get back to me. if he sold the stake it would be a big thing. i left it as open question. ashley: 18% is a big chunk. >> has five board seats. today we learned the journal wrote he tried, tried at some point, we don't know you who hard he tried to off-load some of his stake through jeffries. the buying party of this thing which i think is fascinating who is ackman, who would buy a piece of it. ashley: w

it's the title of a new film documenting bill ackman's fight against herbalife. since the movie's release, a key question remained a mystery. who finance md the film jp a mystery no more. scoop overed weekend short seller john ficktorn and not ackman was the money behind the movie. he's with us today in a cnbc exclusive interview. also with us on the desk, joe terranova, stephanie link, jim lebenthal and josh brown. welcome. good to see you. >> good to see you. >> why did you do this? >> well, you know, we had been looking at herbalife in the industry really since 2004, since we started our firm in 2003. it was always a fascinating story. right? there were always sleazy things going on in the background, our opinion, and always an industry we thought was harming people, yet over the years they seemed to be growing rabidly. not just herbalife, but the whole industry, an industry we realized co-opted up a critics. co-opted the internet. type in herbalife scam, knnuski someone co-opting. never heard the story. obviously co-opted wall street. nobody with a sell recom

carl icahn questioning bill ackman's thinking on herbalife saying he is obsessed with this and beingon the investment. be moree there will fireworks down the line. there is still a question of what will happen to the business as the changes hit the business. >> we will watch this very closely as we have been. thanks. do not miss our interview with federal reserve vice chair stanley. tom keene will interview him. mark: take a look at the european markets end of the day. bank holiday here. stocks lower and investors digesting the jack and whole -- jackson hole event. ♪ matt: it is noon in new york. >> welcome bloomberg markets. matt: good afternoon. i am matt miller. we are covering stories from washington to zurich to houston in this hour. here is what we are watching. stocks are in the green to start sinceg and stocks halting june. gains adding to investor confidence in the u.s. economy. we see a flurry of health care deals to close out the deal -- close out the year? suzy will be here to talk about what is on the horizon. >> what does donald trump really believe when it comes to imm

this came friday when bill ackman said he was tried to sell the shares. comes to ackman versus icahn. friday volume for herbalife was six times the average trading. you can bet it was not trading off of jackson hole. harley davidson cut to underperform. calling out the lower than predicted sales. for more on what is happening in the markets all over the world, abigail doolittle is in new york. in europe, mark barton joins us in london. abigail, you are looking at the gaming company. abigail: the shares are plunging premarket down 34% on the news the gaming company could be forced into bankruptcy alongside the named operating unit on the lawsuits creditors or bondholders with lawsuits worth four point billion dollars. that could force the company to pay for the debt of the operating unit. some investors are not surprised. there is a high shortage of some shares by 25%. turning to a stock soaring a little, it is down bit from where it was earlier but still up nicely on the news the biotech company has started an early-stage vaccine for the zika disease in p

i guess what i find astounding, herb, is bill ackman is short.u go back to that very first fight where carl icahn came on "halftime report," he didn't have a big view of the company. what he had was a view of a guy who had a huge short position, and you don't talk about -- he said you don't talk about your shorts. when jim chenos is on your show, he doesn't talk about his shorts because when you're short, you get squeezed. so he did a totally tactical move. and we're still in the same position. ackman is still short. why making the same mistake? >> right. well, first of all shorts do talk about their shorts just as longs talk about their longs. what they don't typically do is come out and sort of say it the waybill may have said it. and put it the way he may have put it. but what i think this whole thing has done and i've said it all along when i was employed by cnbc full time i was on the desk and we were talking about this and it was always, guys, this shooting back and forth still is distracting and diverting attention from what's really going

and what they should do to correct the situation, is somewhat reminiscent of the position that bill ackman took with herbal life. the problem was that we was, if wrong, but kind of wrong. but if these are not as serious as you believe they are? what if st. jude has an easy fix? carson: in terms of the herbal life analog, there is some. i was never one side of the trade or another. but, i believe that the ftc, from the complaint they released, clearly believed that ackman was corrected much of his thesis. herbal life has agreed to modify its business practices. whether that is just to take the exercise or just modification remains to be seen. much of whate said has been validated by the ftc. in terms of our short -- >> no, i'm getting into the possibility that it might not work out for you as you hope it does. st. jude could live to fight another day. tt transaction goes ahead with no modification of terms. the stock doesn't suffer anything. carson: if that is the case -- >> it is all for nothing. don't know that. we might not profit on this trade. that is the risk you always take in the ma

this comes in response to bill ackman. trade taken the opposite betting against it.nt the stock down after saying he has tried to sell his stake. he has said that is not the case. he had close down a dollar 43 at $60.50 a share. >> that is pretty huge news. this was a big deal. the fact that he has been refuting this claim saying he is not only not selling but adding is pretty big in the market move. he cannot catch a break. >> i'm looking at a three-day chart on my bloomberg. you can see the big drop that we had yesterday at the end of the day. tohad a drop from $62 down 58. essentially what he is saying is he has taken advantage of that drop. 2.3 million shares. we will continue to monitor those headlines for you. scarlet: hillary clinton criticized donald trump for his embracement of an alternate right ideology. we head to washington for more. ♪ oliver: the campaign trail has been heating up with words over race. donald trump accused hillary clinton of smearing his candidate -- his supporters as racists. secretary clinton's speech in reno linking donald trump to t

this as carl icahn and bill ackman continue to square off over the company. bloomberg. ♪ >> welcome to bloomberg markets. we are live from bloomberg headquarters. in the next hour, covering stories out of silicon valley. thanks for watching. investors are pushing thoughts of a rate hike out of their minds, at least for now. tanks to a strong reading on consumer spending. we will hear from an investor with $3 billion assets under management. david: plans for a generic version of the epipen. we will discuss the impact on mylan's profits. herbalife stock has pushed lower the past few sessions as carl icahn squares off. the close of trading and were looking at markets in the green. david:

it's the title of a new film documenting bill ackman's fight against herbalife.ce the movie's release, a key question remained a mystery. who finance md the film jp a mystery no more. scoop overed weekend short seller john ficktorn and not ackman was the money behind the movie. he's with us today in a cnbc exclusive interview. also with us on the desk, joe terranova, stephanie link, jim lebenthal and josh brown. welcome. good to see you. >> g

i'm seema mody, on canadian pacific, bill ackman unloading his entire stake in canadian pacific for aotal of 1.5 billion or 9.8 million shares. the proceeds will be used to fund one or more investments. ackman did begin building a stake in october of 2011, according to this press release, ackman will stay on the board until the next annual meeting. back to you, melissa. >> thank you so much, seema mody. so since 2011. his cost basis would be -- that is the key question here. >> the stock was just below 50 at its lows. >> what's your take? to fund future investments. >> maybe he wants to buy more valiant at this point. >> the stock going down? >> at this point what does he have to lose by doubling down at this point? why wouldn't he double down? >> what's he going to say? >> he 'lost a lot. for him to get back to break even, karen can speak to this about hedge funds, for him to get back to the high watermark, he has to do something unbelievably outside the norm, so maybe if he were able -- make that's the play, but he's lost all right, is the point, why not add morse. >> and he's done

but the only way to get a short squeeze is if bill ackman covers, buys back. you know what?hink both scenarios are quite unlike unlikely. my view? i can't endorse this one until herbal life can demonstrate sustained earnings power, with the changes to its business model. let's see if it does end up hurting the company, a short squeeze is almost never a good buying fundamentals. and remember this herbal life example when you start to think otherwise. stick with cramer. >>> tonight on an all new "american greed", see how one crook runs a multi-million dollar loan scam. it's right in his close-knit boston neighborhood. 10:00 eastern and pacific. price line good tonight? and like i said, there's always a bull market somewhere, i promise to find it for you right here on "mad money." i'm jim cramer, see you tomorrow! miranda: the lip gloss tis a healing lip gloss... woman: it's so smooth. lemonis: ...a cosmetic company that uses a special ingredient. miranda: this is my original formula, and it's got medical-grade lanolin. lemonis: it's a big idea with huge potential. miranda: and

we called bill ackman that morning and he called in to "squawk box" where i talked to him in depth about had to say and follow his words closely. >> they were trying to put together a block trade to take carl out. they came and said have you any interest in covering your position. absolutely not. they were kind of almost sort of laughed about it. and then they said, well you'll, obviously, you know we can get carl out that will help you. i said that's true. and so what i said to them, look, go find buyers for this thing and if you can find buyers i have -- that's great. they went shopping for -- they went looking for potential buyers. >> so note he said they went shopping they were looking to find buyers. that was his terminology. now, of course, he went on to say that carl icahn is obviously a seller and he thinks that's a very good thing for his case which, of course, is the bear case on herbalife because carl is what creates confidence in the stock. unsurprisingly the stock was down multiple percentage points for a good chunk of the day on these comments. and what happened, though, ar

i think you have investors like bill ackman who are doing the opposite. he's trying to fix things. that's what should be happening here. >> when you talk about this on the equity side there has to be more to come. david presented a very bearish view because as pete rightly points out we wanted to hear how the debt reinstrustructuring wag to occur and there are positive things in that restructuring. it gives them a pathway to sell off assets they couldn't do before. they're going to issue short-term bonds. those are favorable things unless no one buys that debt which i don't believe that someone's not going to do that but the last thing that has to happened is we have to know the legal costs. what's the set aside legal costs for the investigation and things like that and then the equity becomes a possibility. >> we'll make it a wrap for that conversation w conversation. >>> we have a look at stocks right now. >> the private prison stocks that are grabbing the attention of investors as the justice department is reportedly planning to end the use of private prisons because they're see

one of the biggest stock fights in history between bill ackman and carl icahn over herbalife. ackman of course claims it's a pyramid scheme. icahn is a true believer. he has been buying into the stock. so far icahn is on the right side of the trade. but icahn may sell his one billion dollars stake in company to who of all people, ackman. is ackman conceding defeat? >> this gives me hope kanye and taylor swift could patch things up. david: that is wild. >> i don't think there is -- there was a lot of drama around this stock whether it was or was not a pyramid scheme, absent that debate there is not a lot to get interested here. not a lot of long-term growth potential. david, jack calls it a debate. i call it a scream fest. sometimes they were literally screaming at each other harder than any politician i have ever done. was that all for show looks like icahn and ackman can agree perhaps it's a buy? >> no. a few yearsing a they were really at each other. it was personal. only reason it wasn't on reality tv -- david: you know these guys it was personal? >> for a while it was pers

but if i were to be involved in i think bill ackman's right. it's a short.t the government's come out and said. they've basically said you're guilty but we're going to let you be in business and run the business off. i mean, there's basically no value in people buying it for themselves. it's like, you know, buy it, use it for yourself. and we brought this company public and did the same work, is it a pyramid scheme? it mildly avoided being deemed a pyramid scheme. but, look, i think it's a short. i mean, the handcuffs they put on are incredible. >> let's bring the conversation full circle back to where we started the hour, and that's the broader market look. you're getting towards the latter stages of earnings season and earnings are what we're talking about now. what will the headline be at the end of this earnings season about this reporting period? >> that we stepped over a very low bar in many, many cases, i would say. and we started that with the financials. the bar was set extremely low. they all seemed to be able to beat it pretty significantly. and t

bill ackman himself sat on this desk with us and said there are no plans to sell core assets. >> well -- >> you believe that? >> you know, they said that they're going to sell non-core assets. we've outlined a few things we think they could sell. maybe they'll raise as much as $6 billion, probably a little less than that. they have a whole big business we don't think anyone is interested in buying. overpriced drugs rapidly going generic. declining. why would anyone pay up for those things? they have some things worth selling, smaller things, keep ball sh and lomb and durham. we'll watch and way. see what happens. >> interesting companies within your coverage. allergen among them. does this look like a take-out candidate still at this point? sdun like an allergan have interest in valiant, do you think? >> we don't think valiant has in super high-quality innovative growth assets that allergan were pursue and don't think allergan would be interested. >> what about somebody else? >> i mean, i think there's -- i think maybe parts of the business are attractive. this certainly, the saleex b

. >> we had the conversation about cf talking about what bill ackman would do with his money. possibly that's in this wheelhouse. an awful year. down 35% year to date. i agree with pete's in near-term, a phenomenal trade. jon mentions mosaic. i love them. seeing consolidation in the ad space, specifically, mosaic around a $30 million, $10 billion valuation cap. a name follow with pete and made money in cf, stay now in the ag trade and move some of that winning investment strategy into mosaic. that's going to have long life to t. and the monsanto deal. with monsanto pursued aggressively. gives you an idea how much there might be to the upside in some of these names and to joe's point a stock sold off 35% from the beginning of the year, cf at that time. there's potential there that there could be a series of deals. >> much better balance sheet, though, for mosaic. far more attractive to someone looking to come in and be an acqui acquirer. >> good stuff. just getting started. much more ahead on the "halftime report." >> announcer: one wall street analyst sees upside in the big ma

. >> i just hung up with bill ackman and i believe he'll speak with us directly, but just to sum it upirming the basic gist of the wall street story. he says, yes, he was contacted by jeffries, apparently because carl icahn wanted to sell his 17 plus million share position in in herbalife, he's the top holder on record at the moment. and ackman said initially, no, but later considered to being part of a consortium of buyers if one were to be put together, but only to the tune of a few million shares. and he said he would have sold them the very next day, because he still has a very short bias on this stock and thinks it's going way down. let's bring bill on to talk in his own words. bill, what's the story behind all of this? did i sum it up correctly? >> i think that's a pretty good summary. i mean, we were -- i was contacted by jeffries, i think, late -- the week of the 4th or 5th. >> of august. >> of august. >> and, you know, they were trying to put together a block trade to put carl out. i do that, obviously, very favorably, that he's, you know, obviously a seller now. which i think

the walls tr -- wall stretet journal saying he's trying to sell it to a group, including bill ackman. a lear is down by 2%. it has actually filed a suit. it is now down 4/10 of a percent. avid has been trying to get out of that deal there. let's head over to st. jude medical. them being the target of a carson block short trade. it is down a couple of percentage points. i just calculated it is a market loss function of 16. billion do -- of $1.6 billion. mark: there is a new problem of the central italian real estate after this weekend's earthquake. even before that the roads in the area were congested with emergency vehicles. the death toll has risen to 267. turkey is blaming kurdish militants for a suicide truck bombing on the southeastern part of the country. a truck exploded at a police station, killing 11 officers. last year violence resumed between police and kurdish militants after a two-year truce. hundreds of security personnel have since been killed. hillary clinton has depended upon her family's foundation. the former secretary of state said the foundation's programs would co

. >> there are investors involved with laleant, bill ackman.e is a guy who had $1.3 billion worth and he lost most of it. he will do everything in thinks power to get it back. and like me, a college retail investor, it is worth the risk. baush and laum working on it, and that's good. and there are a couple of board seats as well. >> and if this something you are saying, that if we see a hike, that it is time to rotate your portfolio? august has seen rotation in terms of sector performance? >> yes. actually i'm not all that concerned. the fed has been sending signals periodically throughout the year to increase interest rates but they are so low right now that and fed is not likely toin crease it much and the story is maybe luke warm indications last week. so i'm not all that concerned. i still think that with rate being as when as they are, and inflation being as when as it is, that you know, the stock market is still a good place to put your money as long as you're putting your money into good quality stocks. >> some of your picks are caesar s

they said one of the buyers would have been bill ackman.his is one of the best wall street stories i've read in a long time. more on it later. connell: i'm going to tell leeb you were making fun of him. >> good. china! >> the third-party candidates have been gaining more attention. a lot of people would tell you that, and some of them have been gaining in the polls. so with that, gary johnson made his case. this was an interesting interview earlier today with stuart varney. watch this. >> free trade! gee, let's force apple to make ipads and iphones in the united states. gee, let's apply a 35% tariff on imported goods. are we talking about donald trump here? yeah, we are. and if we want to turn over to hillary, you bet. she's going to grow government. if you want to waste your vote on either one of those two, go ahead! >> i was watching that interview before i came down, and tonight you can get more of gary johnson because john stossel has a special. a libertarian town hall, he and running mate bill weld will be on, on the fox business netwo

on "squawk box" friday bill ackman said he was contacted about buying a small portion. he said he was trying to sell the position because, quote, he knows the thing is toast. the company up 4.5% today. >> rumbles on. >>> apple may be on the hook for billions in back taxes in europe. josh lipton has the story in san francisco for us, josh? >> reporter: that's right. so reuters now reporting that the european commission will rule against ireland's tax dealings with apple tomorrow. and that dublin is told to recoupe over 1 billion euros in back taxes or about $1.1 billion. there's a special arrangement of the two sides that ireland dodge international tax rules by allowing apple to shelter profits worth tens of billions of dollars and apple keeps employing people in ireland. both sides deny any wrongdoing, however. moments ago white house press secretary josh earnest did weigh in. take a listen. >> the united states is committed to tax fairness and make sure that the kind of agreements with other xuns are not manipulated to allow certain companies to shirk their responsibi

he says if anybody feels trapped it's actually bill ackman. he told me, mr. icahn says, no responsible short seller would ever hold such a large position in a company unless he thought it was going bankrupt, which mr. icahn insists herbalife is nowhere near going bankrupt, in fact expanding in countries like china. he also said he believes in the investment. and he kind of threw a jab in at the end said only fools rush in where angels fear to tread. mr. icahn still feels very confident in the company. guys, we thought we had this feud settled in 2014 at the delivering alpha conference. it does not appear that way. these guys are still at each other over the herbalife investment. >> wow, jeff cox, good stuff there. getting him on the phone. i'm shocked that icahn would throw a jab. >> yes, he made a couple very interesting points. he said that there's a lot of closely held shares in herbalife, a lot of conviction from those shares. and he believes that ackman is playing a game here, he tried to flush carl out. he wasn't able to do it and now it's ackman going

it has 30% short of which we know, i'm sorry, bill ackman is against this company.t of the call has been embracing the ftc's new rules saying it will be good for the company. remember, there was a walking dead analogy by ackman saying that they're basically dead, don't know it. it's funny, because michael johnson, the ceo, did not sound dead. he doesn't know rigor or more tis and what i'm saying is what he's saying these are all going to be great and everybody lives happily ever after. what's he doing with the cash? they do have a bank deal that is not friendly to buybacks. giving the impression that ends in march that he will be in all, nothing about icahn. >> in terms of the settlement of the ftc they have to show receipts for everything sold. >> he said that's great. they have a mobile app that's going to be great. >> that's not going to be easy to do. >> i think there's implementati implementation. three pages in the conference call about implementation and how they can do it and they're doing a parallel track between what they're currently doing and have to do

bill ackman, closely affiliated with valeant used to have a stake in zoe ed is. animal health. juan comes on every quarter for "mad money." i'm telling you the cfo is really good. going to lend an element of stability which is what the bulls need. bears, i don't know. i don't think they're prepared for this. joe papa may have had a very good conversation with him, why leave zoe et tis which has been a success for valeant which is going to be a challenge. i like this move. valeant shareholders should cheer it. >> yeah. i'm trying to think of a corollary. like someone leaving x for y. >> if you saw someone like mcer inry ineny from 3m to bogey -- mcinnerry to boeing, ed breen who moved over to do great things at dupont, typically a cfo is not as important, but here it is. $30 billion in debt. i think this is an exciting move. again, i'm not a big fan of valeant but get rid of debt and there is a guy who can do a lot of financial good. zoe tis since pfizer spun it off has been on fire. i like this move. great cfos are hard to come by. [ inaudible ]. >> as the cfo. >> we know you a

if you are a investor for one year, ala bill ackman, the odds of getting back i'm not going to say aree -- >> right. that's the questions is he ever going to get out of the hole he's in. >> he's got to have a lot of movement. let's turn now to kate kelly. thanks, meg. today's pop in valeant does help mr. ackman, but he is still as underwater as a slip wrehip wre right, kate? >> that's one way to put it, tyler. every day depending on the position. today, ackman's had a nice run. he's made about $100 million on paper today on his valeant stake, which is a little shy of 22 million shares. that's just the common stock i looked at. however, bigger picture and you were just talking about this, year-to-date if you look at his position, he has lost about $1.6 billion. now i should say i made these calculations with the assumption valeant was trading about $27. it's actually even gone up a hair since i made that calculus about an hour ago. it's really ticked up steadily today, which is interesting, meg, isn't it? the market seems to like this news. almost like it's sinking in and buying more an

. >>> bill ackman's pershing square is going to have a stake in canadian pacific.d a proxy battle at that firm sparking a turnaround. in is a statement saying canadian pacific has incredible -- since 2011. check out the five-year chart of canadian pacific. >>> as donald trump stumps in florida, relations between party leaders and the trump campaign are reportedly anything but sunny. decisions not to endorse house speaker paul ryan's re-election bid reportedly didn't go over well with reince priebus. and now some republican leaders are planning an intervention with the gop nominee. for more with this, let's bring in pete hoekstra who served as a chairman of the house intelligence committee. congressman hoekstra, some of these reports about an intervention may be overstated. newt gingrich himself has shot this down. from where you sit, what's your read on what's happening with the campaign right now? >> what i'm seeing happening with the campaign is not any different than what happens in a campaign process. a poll came out showing donald trump down. there were some -

attempt to sell his stake rejecting claims bill made in an interview friday morning that he was offered icahn shares. he didn't dispute it but blasted ackmanwho hasn't any knowledge of my internal investment thinking can go on television to tell the world what i am thinking. speaking of carl icahn, one of the speakers for the investors summit produced by cnbc, institutional investor. we'll also hear from treasury secretary jack allow, among many others all taking place september 13th right here in new york city. more details available at delivering alpha.com. >>> let's get down to new york stock exchange. jim cramer joins us now. we're still as far as the news cycle goes, we're still on friday and i'm trying to figure out a lot of -- it was up, it was down. not much happened at the close and not a whole lot of reaction today, so-so much for that. what do we take away from that business as usual? >> i don't know. i thought there was a bit of changing of the guard midday to afternoon after the interview with dan fisher, basically banks took off. its tangible book val. i saw all the regional banks take off and also saw the industrials which k