. >> carl icahn bought a-shares in xerox back in 2016.t that point, xerox had gotten into the outsourcing business by buying a company that been started by another colorful billionaire, who will be a character in our tale. carl icahn bought a-shares thinking there was an opportunity that these two companies should split. they did. and the standalone xerox is basically left as a pure play copier maker. before we get too deep into the story, remind us who carol icahn is? >> sure. some people call him a corporate raider. he prefers to call himself an active investor, and he has made a name for himself by taking over these companies. sometimes that involves selling off assets, sometimes that involves taking over the companies, sometimes it requires demanding stock buybacks. but he is very successful, and is willing to be very confrontational. hewhat happened here is that , year ago, had a dinner with the new ceo of xerox, a man named jake jacobson. he basically told the new ceo that he thought he was not very good at his job and that he neede

. >>> carl icahn reportedly building a stake in one well known company. >>> and why an rv maker is sending a warning sign about the economy. it's june 7th and "worldwide exchange" begins right now ♪ >>> we have a great team i was referencing that song about 20 seconds ago you played it, good job. kudos. good morning welcome from wherever in the world you may be watching. i'm brian sullivan we'll try to build this city on the stock futures because if you're getting ready to work, consider wearing a raspberry beret. your rbi has to do with prince, we'll explain. a higher open this morning, not a lot. we're up about 41 points on the dow futures. still may see some gains coming off yesterday's 300 point rally. tough talk on trade. italy's political problems all be darned, looking pretty good for the nasdaq as well also on the rise you have to keep an eye on ten year bond yields once again. because we are creeping inching being sort of pulled back toward three. look at that 2.99% so get ready for those red graphics right here on cnbc. ten year yield hits 3% should hit it today in fact if we see

what is it like to face off with carl icahn? and the primary issue.h the california primary as democrats fight for house -- fight for the house come november. .> the bulls are out we have a nice rally for the major averages. the dow up 1%. mentioning, s&p 500 and the nasdaq up half a percent on pace for yet another record close in a row. investorsf 2000, positive at this point. around the easing of trade tensions. let's take a look. , why areall-time highs we not seeing that for the s&p 500? it is a one-year chart. congestionaction and looked very bearish in the fact that it was breaking the uptrend suggesting sellers were trying to get control. ofaking above the downtrend the low were highs. we are still within this range between 2600 and 2800. work to put inve that all-time high but the other averages may suggest that could be a hedge. let's take a look at the movers. these are the banks. we have a tailwind for the banking sector. up five basis points. bank of america and jpmorgan metoo of the bigger boosts for the dow, trying to help explain the ou

carl icahn owns 13% of shares, the largest shareholder.up happening with his activist investment? later in the week, we have edf coming out with its latest methane omissions report. they are one of the only environmental groups oil companies listen to. and the event you have been waiting for, friday is opec's formal ministerial meeting. what will we know about more supply getting added to the market? that does it for bloomberg "commodities edge," catch us every thursday at 1:00. this is bloomberg. ♪ two, down, back up! our phones are more anust phones. they're pocket-sized personal trainers. last minute gift finders. [phone voice] destination ahead. and discoverers of new places. it's the internet in your hand. that's why xfinity mobile can be included with xfinity internet which could save you $400 or more a year. it's a new kind of network designed to save you money. click, call, or visit a store today. ♪ ♪ emily: this is "the best of bloomberg technology." we will bring you all of our next interviews from this week in tech. president do

carl icahn made a bunch of money. and carl deny they spoke about it, but now it's -- we know this president talks to his friends at night. his big money friends and he's off on twitter putting numbers out. can you be sure he's not telling them about it the night before because he's so excited and wants to brag. >> that's the point here. austan talked about it. you said you were the guy who got the numbers the night before the report came out. if austan had called his friend at goldman sachs and said we're going to get a blockbuster report or the numbers look terrible tomorrow, then there would be a gross violation. that would be effectively insider trading. but, look, there are 20 million people -- >> but is this now a concern that we need to talk about? you look at the icahn example and the question marks about that. a president who has no respect for the rule to not put it out on twitter? >> i doepn't think the president -- >> do we need to ask is he telling his friends about it? >> whether it's the president or any

and preliminary results show carl icahn has full control over sandage energy board of directors. he sought to control the board earlier this year after he iticized management for missteps. shares took off rising seven percent to 1702. >>> coming up, what is at stake for apple as trade tensions with china rise? >>> app is a stock that a lot of investors eve outright or mutual fund. it can find itself in the cross hairs of the intensifying trade standoff. >> reporter: mainland china is critical to apple's success and a very important part of its financial future. analysts estimate the country accounts for about 15% of the company's total annl revenue and apple has vast manufacturing erations in china. most iphones are assembled there and shipped. apple's ceo tim cook has made china a priority, t visiting country and making big investments in chinese companies like ride hailing giant. the "new york times" reports that the trump administration told cook it wouldn't place tariffs on iphhoesh today peter navaro countered he had no knowledge of any such exemption. apple could gett caugh

carl icahn owns 13% of shares, the largest shareholder.t winds up happening with his activist investment? later in the week, we have edf coming out with its latest methane omissions report. they are one of the only environmental groups oil companies listen to. and the event you have been waiting for, friday is opec's formal ministerial meeting. what will we know about more supply getting added to the market? that does it for bloomberg "commodities edge," catch us every thursday at 1:00. this is bloomberg. ♪ what's a gig of data? well, it's a whole day's worth of love songs. 300 minutes of baby videos. or, it's a million chat messages. a gig goes a long way. that's why xfinity mobile lets you pay for data one gig at a time. and with millions of wifi hotspots included, you'll pay less for data. it's a new kind of network designed to save you money. click, call or visit a store today. scarlet: i'm scarlet fu. this is "bloomberg etf iq," where we focus on the assets, risks, and rewards offered by exchange-traded funds. calling all contrarians.

carl icahn releases a letter to sandridge shareholders.a recap of action or lack of action. the dow unchanged. the nasdaq and s&p 500 softer following moves in asia. a flow monday when it comes to catalysts -- a slow monday on it comes to catalysts. there's still time for negotiations. julia: small caps outperformed. "what'd you miss?" the 2016 prompted many to get out of the political prediction business. if you look of economic data, it was a foreseeable outcome. by a guest who has turned his attention to the midterm elections. what should we have seen about the 2016 election we did not and translate that to the midterms. >> i think the most important thing was if you look back at the 2014 election, more people voted for "american idol" then voted in that election. implications for donald trump were quite clear, that there might be the potential for a groundswell of support. as we look at this election, important thing to keep in mind is what might not change is perhaps the most important set of things to look at. fed policy, the preside

i said iet in a tussle with carl icahn and i said it afterwards in the public domain. desk life's too short for me to get in the middle of tonsils between activists. -- tonsils between active -- tuss between activists. you can wheel and deal but if you can't operate -- keepe: the strwas to the company together and suddenly now to break it apart. ma: they didn't have a choice. the deal really eliminated the scenario where they would of been able to execute on the plan. not to get too much in the weeds of it but i think they did what was right for them and their lps and i don't blame them for that strategy. >> have you seen a situation like this? it seems so unusual thhave two d wedding quite aggressively. . beene has apparently threatened to losing their job. martin: i'm not there today so i can't tell you. the only way shareholders will make money in that stock is if there are operational -- for the business. you can wheel and deal your way out of that. vonnie: we are seeing activists ban tand it feels lik re to just more often they are jumping in on each other's terri

fujifilm speaking -- seeking damages, caving to the whims of carl icahn and -- and backing out of a takeoverl. suing in court, saying the change of heart on the deal was due to external pressures. that says it is confident the board acted correctly in terminating the transaction. julie: vw has failed to pick a new leader. the former leader was detained, because prosecutors say he may tamper with evidence in the investigation into the diesel cheating scandal. a german is the process is fun was wiretapped. the shares extended declines to ask percent. -- 6%. haidi: of that gaining after google announces a $550 million cash investment in the chinese online retailer, jd. the company wants to explore opportunities, including in regions like southeast asia, europe and the u.s. last week, google struck an alliance with a company to sell groceries in france. ocbe aims toore's double profits to around $740 million by 2023. the bank was to boost technology spending and a staff in the area. are expanding their presence under the greater bay area plan. beijing wants economic output from the region to exc

carl icahn hates unions. it's the union workers that helped propel president trump as a politician.it will be interesting. >>> there were upsets in the primaries. >> including the 28-year-old craticialist who bea a very powerful ten-term iumbent and could become the youngest woman ever in congress. >> after 20 years of the same representation, we have to ask who has new york been changing for? every day getsder for working families like mine to get by. the rent gets higher. health care covers less. and our income stays the same. it's clear that these changes haven't been for us. and we deserve a champion. i've always looked forward to what's next. and i'm still going for my best even though i live with a higher risk of stroke due to afib not caused by a heart valve problem. so if there's a better treatment warfarin, i'm up for that. eliquis. eliquis is proven to reduce stroke risk better than warfarin. plus has significantly less major bleeding than warfarin. eliquis is fda-approved and has both. seeing these guys. don't stop taking eliquis unless your doctor tells you to, as stoppi

. >>> carl icahn reportedly building a stake in one well known company. >>> and why an rv maker is sending warning sign about the economy. it's june 7th and "worldwide exchange" begins right now ♪

mike, its shares down 3% >> pepper and carl icahn that does it for closing bell. thanks for tuning in, everybody. "fast money" begins right now. >>> fast money starts right now live from the nasdaq marketsite overlooking new york city's times squa i'm melissa lee, pete najarian, guy adamy and tonight on fast, if you love bitcoin, this is the show for you first, we're talking to wall street's new crypto king, the first financial institution to open a bit coin trading group and later we're setting down with brett redfearn. these are two interviews you will not want to miss. plus, elon musk winning back the heart of his investors at least for today. tesla posting its best day in more than two years after the ceo described what's been a hellish few months company and we'll u the details and first we start off with the markets the dow surging 230 points and the nasdaq closing at a record and the financials joining the party surging nearly 2%. what is the breakout and the missing ingredient that could take the markets to new heights? >> pete. we w h the banksd withhe te

in fact, i actually picked up shares in allergan this week can was forced into it when carl icahn took his position. i had been waiting for an even cheaper price, but you know what, sometimes the bottom comes in a day >> when apaloosa went public - >> the day before. but the point i'm driving at is yes, we have to have technology. and i know people when they talk about technology, they worry about the multiples and they worry about the multiples on the market overall sarat was driving at this. there are pockets of the market, substantial pockets of the market that are trading meaningfully less than the 17 1/2 times pe on the s&p 500, which by the way, is not too lofty of a multiple to begin with >> josh, how do you see it there's so much to size up you have a note from tom lee saying staples, which if so, underperformed, have bottomed. took them to neutral maybe the worst is over in the staples. some renewed life in the financials this week technology obviously doing what it's done in the past ten days what does it all mean? >> i like everything that's been said on the desk so far, eve

raising $600 million in a row led by fidelity as well as the capital g unit of alphabet, we remr that carl icahn, also an investor here more money for lyft as it does battle with its bigger rival uber, which remember, is valued at around $62 billion. back to you. >> josh, thank you josh lipton in san francisco here's what's coming up next on "the halftime report." >>> several big calls of the day. we're talking medical devices, big food, and big pharma picks from each sector coming up >>> plus, we want to know what you're trading today join the conversation and weigh in with e traders. send us your questions use #askhalftime on twitter. we'll get you on tv today. >> before the break, the markets and indepece day our data partners at kingso show just before july 4th, stocks shoot higher like fireworks. for more, go to cnbc.com/kensho. "the halftime report" is back in two minutes. ♪ feel that? that's the beat of global markets, the rhythm of the world. but to us, it's the pace of tomorrow. with ingenuity, technologies, and markets expertise we create the po and when you do that, you don't chase th

julie: that was mike with cryptoc talking breaking news crossing the saysberg, reporting that carl icahnilt a allergan.tion in it's unclear what his motivation is, what the size of his investment is. invested iny allergan back in 2016, and he sold it back in the first of 2017, but he has a long history with the ceo of allergan brant saunders. time whenat a there's active interest in allergan. who wrote avid sternly worded letter to the board of the company on tuesday and says the sell some units recently was a half-hearted attempt to restore strategic momentum. does need a restoration of something. 30% overs are down the past year. they're getting a little pop on the headlines. youl continue to keep posted on further developments. scarlet: let's get you to the bloomberg business flash. a look at some of the business stories in the news right now. ubs eliminating jobs at its unit.management the firm plans to focus on growth in china and passive and sustainable investment. has learned that the smallest of the operating divisions already eliminated at least 100 in areas including distributi

flight, hotel, car, and activity all in one place. ♪ maria: welcome back, billionaire investor carl icahns of allergan. cheryl: drug maker is under pressure from activist shareholders, the size of investment not disclosed but icahn has been a long-time supporter of allergan supporter sanders. investors pursued icahn not to pursue. shares down 7% so far this year. alice mary johnson is free woman, president trump commuting life sentence after she spent 21 years behind bar for nonviolent money laundering charges. her release coming after kim kardashian west lobbied president trump to get her release, this picture is from last week. okay, remember this vulgar comment, comedian samantha bee, oldest president's daughter last week. >> one mother to another, do something about your dad's immigration practices. he listens to you. [cheers and applause] >> put on something tight and low cut and tell your father to stop it. cheryl: well, she return today her show full frontal and apologized on air for that comment on air again. >> a lot of people were offended and angry that i used to describe the p

. >> jack, i know you reached out to carl icahn and close thad deal to buy the taj mahal in 30 days whatou see why do you think hard rock is the brand that can really turn things around there? >> well, becky, i knew that there was an opportunity in atlantic city, quite frankly without jim allen and the hard rock brand and the seminole tribe, there would have been no conversation with carl icahn and anybody else you needed the brands the entertainment, you needed to bring the life back into new york city. last night was spectacular without even being opened and we think that there's a lot more to come and we're really excited about what it's going to do for the community and the social responsibility that we'll bring in i couldn't be more happy with how things turned out so far >> guys. i hope you are we are friends with the other than of the golden nugget there. have you talk of a casino in northern new jersey, the parks casino in pennsylvania, sugar house in philadelphia. how do you get people again to drive the extra 75 or 90 miles on the atlantic city expressway, throughway, whatever,

bloomberg has learned carl icahn built a small position in the drugmaker, but his -- the size of hisknown. they will spin off the women's health and antibiotic divisions. in germany, there is a sign there is an economic slowdown that again at the start of the year and it's getting worse. factory output declined. orders from the eurozone plunged almost 10%. americans have cut the cord when it comes to telephones. a majority of u.s. households are wireless only for their telephone needs. 50 4% of american homes have only wireless phones or mobile phones. fewer than 6% have a line line -- landline phone service. to wall streetow beat where we cover three things wall street is buzzing about. first up, ubs' swiss knife. fades.e's the sterling lender warns of more stress ahead. bank of america caps the break, they -- taps the brakes. david: joining us now is peggy collins who leads bloomberg's investment coverage. welcome and good to have you back with us. ubs, all of these banks are sort of tinkering. i think of it as wealth management. ubs iswe found out shifting away from asset manageme

sandridge energy has signed a confidentiality pact to share information with bidders, including carl icahn facing a roxy fight showdown with icon, who wants to replace the company board. the showdown is june 19. 17 bidders have until june 25 to submit indications of interest in moving ahead. amazon facing questions from u.s. lawmakers about consumer privacy. editor jeff flake of arizona and chris coons have written to jeff bezos asking for information on the technical design and privacy features for echo and alexa. if you remember last month, a coupled conversation was recorded by alexa and sent to a friend without their knowledge. and apple partnering with oprah winfrey in a deal for original content. they did not note how the programming would be distributed. that is your business flash update. i have to think when it comes to oprah winfrey, a show starring oprah winfrey carries a lot more weight than programming designed by her or endorsed by her. ratings for things that she is behind but does not star in are not nearly as high as her own show. julia: the weight watchers impact she had

mike, its shares down 3% >> pepper and carl icahn that does it for closing bell.fast money starts right now live from the nasdaq marketsite overlooking new york city's times square i'm melissa lee, pete najarian, guy adamy and tonight on fast, if you love bitcoin, this is the show for you first, we're talking to wall street's new crypto king, the first financial institution to open a bit coin trading group and later we're setting down with brett redfearn. these are two interviews you will not want to miss. plus, elon musk winning back the heart of his investors at least for today. tesla posting its best day in more than two years after the ceo described at

a win today for carl icahn.as learned they gained at least four of the seven board seats of energy. thathas been pushing for since november. the stock has dropped more than 40% since the 2016 bankruptcy filing. buyer drew massive orders for europe's second-biggest year.ate on steel of the the german pharmaceutical giant is on track to complete a two day $21 billion fundraising drive to help pay for the acquisition of monsanto. a $15 billion offering in the u.s. on monday selling eight notes to support the $63 billion takeover which is the second-largest u.s. corporate bond offering this year. the rich are getting richer faster in asia. more than anywhere else in the world. a new report finds wealth assets held by high net worth individuals in the asia-pacific 22ion jumped 15% to nearly trillion dollars last year. japan and china contributed the bulk of asia's wealth that india came out at the top on growth rate. that is your business flash update. reminder, opec ministers square off starting tomorrow on whether

potential bidders as it completes its strategic review process that letter from shareholders accusing carl icahn'sstors. accused of placing his own interest ahead of those of other shareholders >>> the broader market right now just 3% below its january peak so it time for a rest or another rally? mike santoli joins us right now. >> becky, good morning i think make a rest makes sense here it's kind of stretched up to this level we haven't been above since march. as you said, just 3% below that high in the history of the world, we've only been above this level for two weeks which is the last two weeks of january so i think a lot of indicators say a pause makes sense. but i think the key message is all the obstacles that the gain saying wow we got the fed stacked up this perhaps a tariff announcement and the market has held together i think that tells you the longer term uptrend has really remained intact through this whole period multiple months. i think it's uneven. off 4% year to date gain in the s&p 500. the best sector is tech. it's up 14%. only four out of eleven are up year to date it's a sele

sources say carl icahn bought a small stake in allergan. the ceo pushed the company to overhaul the management. unclear what icahn's intentions are in this, but he has been a long time supporter of the alher general ceo saunders they're surging today after the discount retailer reported better than expected results and the company is raising the sales forecast for the year. much more than five below this morning. >>> okta reported a narrower first quarter loss they make cloud based identity management software is issuing upbeat guidance for the year and the expanding operations in the u.s. and europe. >>> coming up we have more of the exclusive interview with warren buffett and jamie dimon including their take on the jobs forecast in the country and then the potential candidates then at the top of the hour, former florida governor and former presidential candidate jeb bush will be here. we'll talk to him about the trump economy, immigration and one of his real passions, education reform and his plan for that "squawk box" will be right back.