emily: what's it like working with carl icahn?: we have shareholders across the world right now, as you can see from our early trading. there is a lot of interest in paypal. i think what we really want to focus on is just creating a great company going forward, focus on customers, focus on what customers need. and if we can do that, hopefully we will be a great investment for all shareholders. emily: what about carl specifically? have you guys talked? dan: we have not talked yet. i've been out on the roadshow, speaking to different investors, getting their feedback, learning what they expect from us, what growth opportunities they have for us. it has been tremendously valuable for both parties. emily: are you worried about -- potential agitation? dan: i'm not. carl and other investors are the same. they want great value to be delivered for investors and for customers. as long as we stay focused on that, that's the right thing to do. emily: a lot of people talk about paypal as an acquisition target now that it's separate from ebay.

carl icahn is one of them -- >> they're both gazillionaires. , and how much is carlos slim worth? >> 60 billion, i think. liz: he's the richest. >> and how much is the price? the debt is 320. >> right. i think they're a going to come up with a bit more than that, because i hear the 320 is a big chunk of it, but there's also a bit more. >> say he goes for $500 million, and carl can afford that, and so can slim. the question is, i don't know slim as well, but this seems like an odd investment for carl, right? this is not what he generally does -- liz: although he did have a stake this mgm, and he made a lot of money. >> back in 2012, he had a 25% -- >> but he usually flips it. liz: what does he need this headache for, charlie? >> you know, i don't know, you know? i may want it. i may want to go to the movie. liz: to somebody who needs a studio, and that would be a netflix, the new players, the amazons of the world, are they interested? >> listen -- go ahead, i'm sorry. >> we're not hearing those names yet, but i would imagine anybody's going to ta

billionaires carl icahn and larry fink together. they'll be debating activist, investing live during our delivering alpha conference. it's still going on in new york city. you will not want to miss that coming up live here. >> and we will take you back to athens where protests heating up outside the parliament. we're back in two. when you're not confident your company's data is secure the possibility of a breach can quickly become the only thing you think about. that's where at&t can help. at at&t we monitor our network traffic so we can see things others can't. mitigating risks across your business. leaving you free to focus on what matters most. >>> welcome back. netflix shares down nearly 3% today. ahead of the earnings due out after the bell. >> joining us now for a preview. an analyst and managing director at morgan stanley. this has been one of the momentum stocks of the year. they just had the 7 for 1 split. what are you expecting from this company in the earnings tonight, ben? >> well as you know the focus is always subscrib

>> carl icahn, you are trying to pass -- i am emphasizing -- long term investment. >> du they don't -ary clinton has no stacks, no studies. larry flynt wrote the speech for her. cheryl: let me pick up on that. when we first met back -- in 2007, we were with him and the economic policy of the time, is it politics? is this what you do? go after the rich, wall street, and -- then you go sooner. >> if you were anti market, why would you be trying to just readjust people to be longer-term investors instead of short-term investors. >> bernie sanders -- >> why did you come up with this event was so great? >> i think it is a good idea. >> it is because you are smart, you are enjoying your life. >> he knows this is nonsense. >> you don't need to get away from just hearing about quarterly earnings. >> carl icahn is the bad guy. >> didn't say that. >> we have somebody -- >> you heard him. >> carl icahn is a bad guy. cheryl: very funny. austan goolsbee, it was good to see you. thank you for being here. charlie gasparino, never boring with either of you. coming up secretary of state john kerry, no

-- carl icahn.on, in case you haven't followed this, it made an unexpected profit, and it's had an unexpected surge. a host of firms are saying this stock that is hitting record levels today is poised to go even 100 points higher from here, maybe more. so the feeling seems to be despite just the 15% runup today, et has much further growth to go. but we're stepping back. i don't know what this means for amazon, but what does this say about you? if you buy a lot of stuff on amazon, you're not alone. we're told that the average cart at amazon is a little pricier, that it's not just cheap back and forth, it's bigger stuff, it's across the board, and it is benefiting amazon. but it's also a sign that maybe the shopper is back, the consumer is back. we're going to get into that with gary b. smith, daiking mcdonald -- dagen mcdowell and jo ling kent -- >> you told me talk to your hand two seconds ago. [laughter] neil: i didn't talk to you, did i? [laughter] >> bam, on fire today, neil. neil: do you think t

carl icahn has made a reported $180 million on this spinoff.rces is telling us ebay saw this slip. every time they made a decision that the companies were better -- were better together until just recently. that is where they decided paypal's future is brighter and ebay's future is brighter if they are separate companies. mark: why was now the time? emily: it is difficult to get a real answer to that question. they felt they needed each other. paypal also needed ebay. company 13ought this years ago, all of ebay's transactions were through paypal. so happens over time over the last 13 years paypal has exceeded most expectations. they are 168 million customers. think about the billions of people around the world. opportunity huge they haven't been able to execute up until this point. -- thinkpeople thinks paypal's future is brighter. >> when you are talking about the growth, which has been explosive, is he shocked? >> a lot of people talk about 0.2 billion dollars spent on e-commerce every day. he thinks it is all commerce that is paypal's opport

carl icahn, he's short high yield. so that should be a fairly interesting discussion as well as in light of what he said today he likes high yield and three or four years down the road it may be a problem. that will be something i'm watching for. when it comes to netflix, guy has been on this name. last week i said take your profits on that. i still think you should be taking your profits here. but guy adami's the guy to talk to on this because he has been long and strong. >> he's got his own original conflict, too. >> guy adami, too. >> streaming guy. >> in terms of gunlock he said the two-year yield closer to 10%. let's get straight to scott wapner, icahn and blackrock. >> one i think is overdue and one that certainly could not be more timely. i should also say in the spirit of the recently wrapped up world cup knowing what could happen over the next half hour or so, i have a yellow and red card and i will not hesitate to use it if i have to. larry, i begin with you. what for the record is your position on activism?

. >> are you looking to do what carl icahn did with netflix? you've had some stocks, time warner, cvs, o'riley are now at new highs, are you looking to take money off the table? >> unlike carl who has the perfect world and he controls the money, we have 2,000 clients and we're separately managed. if somebody goes from 3% holdings to 6% because o'riley has gone up six-fold. we'll trim up a little bit. in the independent of that we have one large position in directv and the government is really acting very quickly on certain issues like the merge wer at&t, it's amazing how they drag and drag things out. so you know, we can blame other countries for being slow in terms of rules and regulations, we should look in a mirror. >> take a quick break, coming up, analyzing the analysts, from amazon to coke and intel. many others, big names seeing big action from the street. we break database the calls, including a sell rating on one of pete najarian's favorite names. >> what? impossible! >>> and forget jp morgan, wells fargo or citi, one of the top manager

investing for the short term carl icahn going to a board, demanding they give you stock buybacks that is somehow costing jobs. there's no study here. >> wants to admit charles payne did have a point earlier talking about this on fox business which if you don't get you should a profound point we have a fixation on quarterly earnings. >> a fixation. >> some management does. >> i understand. >> if you've got a management team if you have a manager worried about the company's quarterly earnings and how the street is going to about, they're doing a terrible job. >> they have to worry about it. >> but if you don't have a five-year plan -- >> of course. >> dagen, final word. >> essentially up to a six-year penalty on selling an investment. a wealthy person will do the following, put their money in cash leaving less money to handicapal to the companies that are raising it and the companies that made it. >> they don't think they can get either -- >> how many jobs do you think -- the real question we should ask adam and hillary's supporters how many jobs are these stupid proposals going to give

>> the carl icahn isn't necessarily meant all bad things. we've seen many instances -- >> you can't fault him. he had such a home run, when you make $11 billion, you make some off the table. >> it's gone up so much, why not? why wouldn't you? >> this is another example of loved property duct. it's out standing and transforming the way we consume content but the stock price is hard to get. >> i don't watch live tv ever, ever, except cnbc. >> what a drip. [ laughter ] >> with that said, listen, i've been steadfasting this. carl's exit, he exited 300s, 400s. i don't think in today's world right now netflix can be replicated. i talked about the international growth that's clearly there. i've been saying the stock will continue to go higher. it will rally in the earnings to believe he got in on the bottom and ring the bell on the top to me is too much. i think it's too much to ask. this rallies into earnings. i believe that on the 15th of july. >>> next, proctor and gamble merging 43 brands for 12.5 billion-dollars. it's professional hair and col

carl icahn first lobby for the move. groupon's purges of the on demand, online, and mobile food marketplace signals it is likely to take on the likes of grubhub. most of the 40 u.s. markets are outside top metropolitan areas. matt: the world of the top golfers are coping with puddles in the british open. heavy rain temporarily stop second-round play. workers needed squeegees and cons to get rid of the water -- and pumps to get rid of the water. jordan spieth has not started his second round. he is at 5 under. tiger was hoping for better weather because he was hoping it will help him make the cut. erik: he had a disastrous first round will stop tiger has not won the british open since what, 2006? matt: i have not seen tiger when much of anything, i only started watching a few years ago. erik: we need to get you started with the five things you need to know this morning. it will not surprising the number one has to do with greece. it is still a big story. germany's parliament backed the bella package. that is the news. let

this doesn't mean i agree with carl icahn on everything. i'm not thinking about carl icahn.'m thinking more about the ordinary investor. look, if i see a good business opportunity, if i see a new start-up opportunity, why should the government stop me or penalize me from selling now, taking profits off the table, and re-investing it into a brand-new business which by the way, might create 20,000 new jobs if we hit the technology jackpot? i don't want government involved in this. it loses money for the federal budget and it discourages all the animal spirits of economic reform. can i be honest with you? larry fink is a sincere guy. i'd love to him to talk to him about this long term/short term thing. but i do not think ms. clinton is doing anything here john but playing politics. she's trying to thread the needle between the bernie sanders left wing socialist crowd. >> at a future time larry, i'd love to hear you talk about why we don't just call income income. why we make distinctions between whether it's capital gains income, dividend income. we make distinctions on carried

carl icahn made a difference. they have been shareholder friendly. if you are a shareholder in apple over the last several years, you are sitting pretty. there's not a lot to complain about. can we talk about the car for just a second and a higher an executive from chrysler and hire a self driving car researcher and they get this name, titan. guest: i thought it was interesting that they hired them in europe so they could do their card of element outside the u.s. with this money they don't want to bring back. the car is a huge opportunity, but as someone said on the earlier, the idea that it could be a partnership with another carmaker is a possibility, there's going to be a lot of variations they will have to experiment with. alix: but the car is a later stage project. let's talk about what's going to happen tomorrow. --ust report of the stock $66 million in market cap was lost. apple had been lagging the nasdaq in the recent rally. what are we waking up to? it is going to be ugly. tomorrow is not going to be a pretty day in the nasdaq. emily: the o

this is video of a past protest of billionaire carl icahn who now runs the resort. >> who wants to work for a lunatic who threatens to close the place and takes away everything that makes the job worth doing? >> reporter: the union released a report showing what happened since icahn eliminated health and pension plans for workers. it found 44% of them still have no health insurance and many are reporting symptoms of depression. >> the whole message for the last nine months has been that everybody's expendable except for carl icahn. >> reporter: some people see the job fair today as a good thing. >> i hope the people can have job openings because we definitely need that here. >> reporter: we wanted to get the taj mahal's take on that critical report from the union but our phone calls to representatives from trump entertainment resort have not been returned. i'm drew smith, nbc 10 news. >>> coming up next on "nbc 10 news at 6:00" -- >> severe storms are headed our way right now. glenn? >> yeah strong system is coming in from the west. it hit harrisburg hard. we will track your neighborhoo

private equity firms, hedge funds, people like carl icahn.hat do you make of that trend, is it creating more competition for you? beth: it is incredibly competitive out there. we have to wake up every morning and compete to win and work with the best entrepreneurs. john: never been a better time than now to create a company. emily: is it great for investors? john: if the markets were not growing, it would be bad for investors. but that is not the case. we are in the midst of opportunity. emily: so other investors have been a bit more about doomsday about the scenario going on, saying that there are startups out there that are burning cash, burn rates are too high. beth: the cycle of success and failure goes on all the time. we will see the same thing here. if a company is out -- is at too high of a valuation and that they are raising too much money, that will not last. john: companies will fail, you can only lose one time your money. if you invent a new service or kind of product, that makes the world better. emily: john, you put bets on goog

and we reveal who is tweeting for billionaire carl icahn. don't miss it. we'll be back in two. are you moving forward fast enough? everywhere you look, it strategy is now business strategy. and a partnership with hp can help you accelerate down a path created by people, technology and ideas. to move your company from what it is now... to what it needs to become. >>> the u.s. may be at full employment before then. williams a voter on the fomc this year is seen as a centerist whose views are in line with janet yellen. >> janet yellen goes back to capitol hill today for the second part of her testimony on monetary policy. she testifies at 2:30 p.m. eastern. she told house panel the fed is likely to raise rates later this year and turmoil overseas probably won't effect the u.s. economy. >> a decision on our part to raise rates will say no the economy doesn't stink. we're close to where we want to be and we now think the economy needs higher rates. there have been head winds and we've tried to overcome them. >> yellen might want to raise rates this year but she can't. that's the ver

the union has been at odds with billionaire investor carl icahn over issues including changes in schedules and the elimination of health insurance. icahn is acquiring trump entertainment resorts from bankruptcy court. >>> police want you to keep an eye out for pickpockets who have robbed nearly two dozen people this year. police say these are some of the faces they want to identify. the thieves targeted unsuspecting people in stores and restaurants for their wallets and credit cards. >>> cvs is warning its customers that its online photo service may have suffered a data breach. cvs photo.com is shut down as is the app. the company says it is managed by an outside vendor. credit card information gathered by that vendor could be compromised. >>> students are going to be paying more to go to rutgers university this coming school year. the board of governors voted to raise tuition by 2.3%. if you live on campus and you're from new jersey you'll pay about $26,000 a year. rutgers joins local schools temple penn and the university of delaware in raising tuition for this upcoming school year. one

i think you'll hear the rhetoric from carl icahn afterwards. the stock goes higher. >> what do you mean everybody? i feel like wall street has been largely sticking to their buy ratings or defending the stock against concerns -- >> it's funny. what i've learned is you hear what you want to hear. maybe i've just heard the negatives. for me i've heard a lot of the negative lot of the reasons is nathan and i are together a lot. there are people who make cogent arguments for the down side. i don't think it goes there is my point. i think people are waiting. i think they're going to be disappointing if they did. >> torgether a lot of the time. >> i love dan. and "options action" this friday at 5:30. >> david einhorn slamming "house of cards." but it's what he said about netflix stock that could be a serious cause for concern. kate kelly will join us in a live special report. in the meantime here's what else is coming up on "fast." >> it's the three stocks that could determine how the market trades this week. we'll tell you what they are and how trad

most interesting on the because it's been the most talked about over the last couple weeks from carl icahn, david einhorn yesterday. i think netflix is going to take off post-earnings. i think it has a 750 handle on it. i still don't think netflix can be replicated. i get the valuation is extended. right behind, though, is a 10% move in google over the last couple days that the rest of the gang with k. speak about. >> and that's sort of interesting ahead of its earnings report, google. >> it has been sort of a stealth move. we don't really talk about it that much. it's a name i've been long for a while. last year did nothing, this year had an okay year. i would love to see expense control. there's a lot of hope that we see a different kind of cfo function and always capital allocation. please, please use the money. buy back stock, dividends, something. >> doesn't that make a little nervous to see the journal article today talking about expense control a day before the earnings? to me that's one of the things -- it sets up a little poorly. you have a new cfo. you've got to imagination the w

they have a responsibility to carl icahn to redeploy at $200 billion? anand: they may not necessarily have a responsibility, but carl icahn and others are going to force that in. that is what we have been seeing all across corporate america right now. cash has to be deployed, whether it is buybacks m&a, more debt. tom: debt is 5.8%. their cost per debt is 1.8%. brendan: i want to take what our guests are saying and put it into context. apple is taking a hit in europe, but, julian isn't this an earnings report that any other company would be thrilled with? julian: it is but what we have seen this particular quarter more than most is if you disappoint in the slightest on revenue expectations, you are going to be -- tom: is that what you are seeing in technology echo? anand: there are very few lustrous spots in the technology food chain, and one of those is the cloud franchise. so google is strong, google data center is trending strong. tom: does apple do the cloud? i am paying 19 bucks a month for some cloud. anand: apple is one of the largest cloud vendo

icahn thinks there is a problem with liquidity? >> i suggest you do that soon. >> carlfacts to the table. think about the consequence and think about the inventory and he's right. three years ago, $350 billion would the of inventory, inventory now is somewhere around 40 to 45, much lower. >> it's not only bonds, it's equities also. >> the implication here is that the volcker rule has caused, has the potential to cause a problem of liquidity in the bond market. wants to take it more personally. obviously than others. >> exactly. absolutely. i was surprised that he extended the conversation, there's absolutely zero problem whatsoever. which contradicts what we've heard from so many other market participants. >> market participants, he's not a market participate. who am i talking it from carl ica icahn. >> what's your thinking, we go back to having deposit institutions acting like hedge funds it doesn't have to be all the way to one side or the other. on balance, it's hard to make the case. that this is much worse than what we had from 200 two thousand and 2007. >> ha was

emily: how much did carl icahn influence your decision, if at all? was a shareholder, but when he initially called to say we should separate, our plan at the time was not to do that, in what was aack short-term battle been, but the board has always looked at what is the right thing to do over the medium to long-term, not around the short-term. it's how we best position these businesses over the medium to long term. throughout that whole process with carl early on, i repeatedly said we would be open-minded and objective to do what we believe is right for the company over the medium to long-term, and that is what, in essence, we are doing with this separation. chang joins me from san francisco. great interview. looking forward to seeing the majority of it. a lot of talk about who could buy paypal and if it will stay independent. john donahoe seems to think that paypal at least in the short term will remain an independent company, though he did say they will keep their options open. remember, he remains on the paypal board and will remain chairman of pa

ebay said in 2014 it would split off paypal after investor carl icahn among others have been lobbying for that exact move. the company is raising the low end of its forecast this year and adjusted the earnings-per-share, beating wall street estimates. honeywell says it is profiting from the rebound in u.s. commercial construction. pimm: and get this. hacking pays, infrequent flying miles. rewarded twoes hackers who revealed flaws in it to curate he systems. they scored a million frequent flyer miles each. that is enough to get you several first-class trips to asia or 20 roundtrips in the united states. the rewards are under a new security rewards program started in may. betty: that is real money there. pimm: it is. a million miles. welcomed thearde deal of birding greece's exit from the euro, but today she pointed out the difficulties. -- the deal averting greece's exit from the euro. betty: many difficulties. , david lipton spoke on bloomberg television about greece's debt crisis. agreementt the between greece and europe calls for is a combination of policies that will fix greece's p

ebay spins off the business from its online marketplace operations after up proxy fight from carl icahns been pushing for the spin up. one more reason for taxi drivers to hate huber, it has overtaken taxi as the form of ground transportation that appears most on expense accounts according to a firm called certified, which the second quarter uber accounted for 65% of ground transportation received. those are your top stories at the moment. at the moment, markets are closing in europe. for the latest, let's go to manus greaney in london. that: closing nicely on side, the dax is up and every day you get a building block of good news that lets you move back towards normality, the european central bank with wanted native easing. the greeks getting a bit of extra liquidity to tide them over into next week. the head of the ecb talking about that forgiveness or elongating maturities. for seven days in a row the longest streak since the start of march. paris, the best streak for them, european stocks up non--- up 9% from their nadir. autos, what a great sent -- what a great number of numbers in

bill ackman carl icahn, larry fink jaime dinan. promises to be a big event.ll join us with what more to expect in just a moment when "squawk box" returns. ♪ if you can't stand the heat, get off the test track. get the mercedes-benz you've been burning for at the summer event, going on now at your authorized mercedes-benz dealer. hurry, before this opportunity cools off. share your summer moments in your mercedes-benz with us. ♪ i built my business with passion. but i keep it growing by making every dollar count. that's why i have the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy for my studio. ♪ and that unlimited 2% cash back from spark means thousands of dollars each year going back into my business... that's huge for my bottom line. what's in your wallet? music: etta james "at last" (plays throughout) sometimes, at last doesn't happen at first. ♪ your dad just kissed my mom. turning two worlds into one takes love. helping protect that world takes state farm. >>> welcome back to "squawk box." some key activist hedge fun

you this is a gimmick, the least problematic people, the average american has to worry about is carl icahnn but she looks at polls and says okay, i need a wall street bogeyman. i can't go after lloyd blankfein of goldman sachs, he paid me billions of dollars. i can't go after black stone, the private equity firm because tony james is one of the biggest contributors to democratic candidates, a big-league at blackstone, what do i do? i can go after floor traders because there aren't any so activist investing and most of the mark conservative anyway. stuart: it could be successful as a political ploy. i am out of time, got to go. the house passed legislation denying some federal funds to sanctuary cities. my next guest was one of lee six house democrats who voted for the bill. welcome, henry, you are hispanic, 90% of your district is hispanic and you voted to rein in federal funds to some sanctuary cities. why did you vote that way? >> first of all i believe in immigration reform. we need immigration reform, we need to follow the laws that are on the books right now. and people deport them. i

scarlet: and carl icahn keeps knocking on the door. matt, you are out. matt: that is it for me.rlet: much more, including the carnival ceo on cuba. ♪ back to thecome bloomberg market day. i am scarlet. commodities have taken a big leg led by oil prices. oil and copper taking the brunt of it with the bloombergs commodity and asked -- index dropping to the lowest since 2000. you're on the phone trying to figure out why oil prices dropped so much while everything else was not. x: there does not seem to be a consensus as to why the selloff is happening right now. china stocks have been getting hit hard. you have the potential greece exit in terms of what will that do in terms of weaker demand in europe. you have a stronger dollar. none of that is new, but somehow this is trickling down to commodities. i want to look at oil intraday. we had a huge drop around 10:00 a.m., starting to move lower. -day -- two-day chart. we have breached the average and it has accelerated movement to the downside. scarlet: there are a lot of technical factors that might be driving this, the water people

this incidentally is a debate that we had at delivering alpha last week with larry fink and carl icahn. carl icahn representing the activist investor saying that we need to be responsive to the immediate needs. shareholders. larry fink said take a long-term view. tyler, when hillary clinton actually lays out the numbers here that debate will be engaged more fully. >> john harwood from washington. >>> is hillary clinton's plan to change the capital gains tax good for investors? jared bernstein, senior fellow at the center on budget and policy priorities james petikoukis from the american enterprise institute. both are cnbc contributors. jim, let me start with you and ask whether you think this idea has legs. >> well it doesn't have legs. battles over tax rates, particularly capital gains tax rates are one of the toughest battles in washington but occasionally they do thing as john pointed out. i think the merits of having sort of a gradated capital gains tax rate there might be something to it to try to push companies to have more longer term emphasis to focus more on long-term investme

the union has been at odds with investor carl icahn over issues like changing schedules and the elimination of health insurance. icahn is acquiring trump entertainment from bankruptcy court. >>> out of wilmington, police are looking for this missing man. his name is matthew jennings. they say he called a family member last night and said he feared for his safety because of something that happened earlier in the day and then disappeared. if you happen to have any information, you're asked to call police. >>> well the all-star break is over and the phillies are back in town with their 29-62 record worst in baseball. here's a live look where the phils will take on the marlins and home for a win. one thing guaranteed, it's going to be a great summer night. chief meteorologist glenn "hurricane" schwartz is here with the forecast. can't guarantee a win just the forecast. >> that wasn't in the record. the record wasn't in the script up. didn't have to remind people about that. the weather is going to be pretty good not only for today but into the evening. there are some clouds out there in the poc

stephanie: carl icahn says apple is cheap. assets are onk the high side of fair or higher.re are no bargains. there is you can buy today for less than it is worth. -- there's nothing you can buy .oday for less that it is worth i don't want to buy things that aren't so bad, i want to buy things that are great. david coates at all of these problems in europe are devaluing a copy like a siemens from which is kind of a bargain right now. howard: we are doing more in europe right now than at any other time. stephanie: it seemed like investors said that we are in europe and we are waiting for the banks to deliver but no one did. are thingsl, there to do. it hasn't been a delusion but it has picked up from the trickle of two or three years ago. there are banks that are selling portfolios of loans. we have been on the buying site of some of them with the options don't get out of hand. and we are buying loans and businesses and even starting businesses. no more time come but our hedge funds in a tough spot? he's a poison girls, manager risk come at a time when investors say i don't

other ceos have carl icahn and dan loeb banging down their doors saying you need to deliver to me yesterday, and after i banged on your door, i might sell the stock tomorrow like dan loeb, marissa mayer -- he has not been in yahoo! the last two and a half years. greg: that might be right that they sell the stock and that is great for capital allocations and capital markets, because they will move onto the next inefficient company and get them to make improvements. stephanie: why does it necessarily make improvements -- one can say marissa mayer has or has not done a fantastic job, but it worked out for dan loeb. greg: this could be great or not so great. the theory is if i could get a company from earning one dollar a year every year for the next 10 years in the markets expectation to earning $1.20 a year every year for the next 10 or 15 years and show some growth, what happens is the stock price moves very rapidly to the upside and you can make a lot of money in the short term by getting the company on a better, long-term path. betty: again, that was activist taxin, clearly passionate abou

why holding on with carl icahn selling? i like the concept.n, starting to be a bargain. abbott drug huntington bank netflix, i think it's terrific. mary in pennsylvania. >> caller: thanks for taking my call, jim. for all the great advice you give to us. my five stocks are google netflix, ibm, dominion and altria. >> all right. let me go to work here. thank you for the kind comments. altria is a tobacco stock. i don't like to recommend them on principle. that does give you good yield. dominion, i like the yield very much. google. i see google and ibm. i think those two are too much alike. we are going to sell ibm and keep google. netflix is entertainment. you don't have a drug stock. we are going to default to the time-honored bristol-meyers to keep people focused on diversification. john in florida. >> boo-yah, cramer. you're my financial point man. you've got my financial six covered. >> what's going on? >> caller: my issues are cypress, boeing under armour apple and seaworld. >> i cannot tell to you sell cypress down here because it's way to

they have been at odds with investor carl icahn over some issues including changes schedules and theelimination of health insurance. icahn is acquiring from bankruptcy court. >>> next, talk about car trouble. a delaware woman is fighting to get her flood-damaged car back from the towing company. she may soon be able to get back on the road. we'll let you know why the towing company has been keeping her car for months. i'm sigourney weaver and new york is my home. there's no place like it in the world... like our state parks. the adirondacks are my favorite. for hiking, fishing, camping, you name it. niagara falls is the oldest state park, but visiting it never gets old. the readers of a national newspaper voted letchworth the #1 state park in america. watkins glen, #3. new york state parks are a gift. plan your vacation at iloveny.com/summer there's something for everyone. iran keeps their nuclear facilities. military sites can go uninspected. restrictions end after 10 years. then iran could build a nuclear weapon in two months. iran has violated 20 international agreements and is th

is emerging from bankruptcy through a restructuring plan financed by lenders, led by billionaire carl icahn. right now he's in a dispute with the union that represents a majority of taj workers. >>> back in business. a live look at the new york stock exchange a day after glitch paralyzed the market. plus taking south american tour to bolivia. thousands of people are gathering right now for mass in that country's largest city. >>> well severe storms are possible later today. i'll break down that timing and let you know when they could hit your neighborhood. that's just ahead. >>> the new york stock exchange is back to normal this morning one day after a computer glitch halted trading. new stocks are bouncing back from a loss before when a computer error led to an unusual 3 1/2 hour shutdown at the new york stock exchange. yesterday ended with 261-point slide. the stock exchange its halt on trading led to sizeable losses by the closing bell. there's a live look for a moment. there were technical glitches and also grounded united airlines throughout the country. 3500 flights nationwide were af

>> steve, during the q and a, was she asked about the interchange larry and carl icahn had yet? >> not that i know of. you mean in terms of liquidity? >> no, i believe that came up yesterday a little bit and she said something the fed watches carefully. >> hey, steve, brian kelly. >> hey, brian. >> so i'm curious -- >> what's up? >> the fed had rates low since 2008. six, seven years, what's the hurry? we seen negative, reseen we seel sales were terrible and don't know what is going on in europe and a crash in china, why do they need to raise rates in two months from now? >> i think what she is saying to be clear is that if the forecast goes as they believe it will go and they believe that the consumer will come around, everything they have, brian, which is higher wages, higher employment, lower gas prices and overall higher incomes suggest the consumer should be spending more. that's one. the second thing is the big dip that could have been statistical noise. she thinks the economy is going to snap back. if you do three and 3% growth, you have the unemployment rate coming down.

over the weekend i saw carl icahn. i said why are you worried about the high yield debt market?ield market will get crushed because oil is down. what do you make of that? >> a major problem developing on this front. a year ago we had 2% default rate 12 months out. the latest default frequency, 3%. moving up sharply. high yield bonds default. when that goes above 4 1/2%, not only do you worry about the high-yield bond market but you begin to worry about the equity market and economy in general. we're not quite there yet but that is worth keeping your eye on. liz: point on calendar? half a year? >> by year's end let's see where we are. we're on trajectory to look at 4 1/2% default rate going out one year. that is not good news. we're looking high yield bonds approaching 600 basis points. you can forget about a fed rate hike as long as high yield bonds are above 500 basis point. liz: that's a great point we'll have you back. thank you very much, john lonski of moody's. >> thank you. liz: that is it for us. we've seen a comeback. "countdown to the closing bell" hands it over to able

last year i decided to follow what carl icahn was doing and even though something really good happened after the close today i'm really concerned about hertz. is it a sell or a hold? >> no. this after the close put is closer that i've been looking for to be able to say and coulding irregularities no longer equal sell for this one and it cut the earnings per share by 11 cents and they're in good shape and they'll also do the spin-off. i want you to hold on and i say congratulations for being patient enough to be able to profit ultimately from hertz. times, they are a-changing but the big money managers are listening and not all of the big cats live in a hedge fund cage. sometimes you have to take a walk on the wild side to bag a real winner. on mad tonight, the only way to score huge gains and just look at the prosaic domino's pizza with the yellow banana peppers and it's up 11% and today i'll ask if he can keep bringing in the heat. then oh my netflix! it went up another 18% today. is it too hot to handle? you don't want to miss my take. don't miss my exclusive with the ceo of keycorp,

on june 24th, carl icahn said, "i believe the market is overheated" and "if more had warned in 2007,voided '08." we're off almost 75 point on the s&p from those tweets. >> i think consensus in the market at that time is we wouldn't be in the situation that we were with greece and that was before the selling escalated to what it has in china. >> definitely pre-referendum. the chinese stock market had begun to fall off. the shanghai. >> now we've got greece, we've got china, we have earnings coming up and concern about the p.c. market. you wonder how many shoes drop here. i'm going to be looking at any commentary from tech companies that do a significant amount of business with consumers in china, apple being one of the primary ones there to see are they able to say anything about what they saw throughout june as the markets were falling as far as people being willing to buy premium goods. >> and on greece, there are no comparisons to the size of the market. saying it's about the size of oregon, but we're starting to get earnings. alcoa today -- >> tomorrow. >> thursday. >> it's only a

the question to you is, if you didn't buy it the day carl icahn got out of it and did you miss your chance for the foreseeable future? >> i don't know that you have. the reason i say that is we've been talking about time and time again about the international growth. you look now that's 31%. that's only going to get bigger. if you look at their content. i think the moat around netflix just continues to get that much more strength behind it and it's going to be that much more of a barrier for entry. because of that, no, scott, i don't know that you've missed it obviously you've got to wait. >> or can you buy it right here? >> i bought some yesterday, i'm just about out of it but not for any other reason than options put me in there we see gigantic options late in the day. coming into netflix, i'm in and now i'm going to be out before the end of the show. >> steve weiss, you buy it here, did you miss your chance? >> you missed some of the upside, that's clear. i'm always waiting for a pull-back. i did own it briefly after they whiffed on the quarter and mark cuban got in i sold way too soon.