. >> thank you >>> coming up at the top of the hour halftime report, legendary investor carl icahn isth david faber and scott walker that's noon eastern. must watchv. t don't want to miss it. "squawk alley" back after the break. she thought it was a fire. it was worse. a sinkhole opened up under our museum. eight priceless corvettes had plunged into it. chubb was there within hours. they helped make sure it was safe. we had everyone we needed to get our museum back up and running, and we opened the next day. >>> the percentage of americans saying now is a good time to invest is reaching an all-time high according to the all america survey steve liesman joins us now normally i would say that might be a bad sign, but all america survey has been right for awhile. >> it has done pretty well i have to warn you, these results are from a survey last weekend, not the recent one, so before the market sell off but it is instructive to look. what you see as jon was saying, missed out on the bull market that ran from '08, '09 through '15. but it popped up a lot of public was on board 51% of the p

alix: in the meantime you have carl icahn with his white horse and all about.oso calvasina are staying with us. this is bloomberg. ♪ alix: this is bloomberg daybreak. s&p -- s&p futures off the lows of the session. thank earnings coming in now. -- bank earnings coming in now. in other asset classes, a weaker dollar story, the euro continues to climb higher. yields go nowhere here in the u.s. and oil pumps by about 1% over geopolitical risk in saudi arabia. retail sales, if you backed out autos and gas, coming in flat. sequentially. basis, youon month are actually lower, down 1/10 of 1% despite the fact that empire manufacturing comes in small. these retail sales numbers don't make me happy. david: it is only one data point but does not say good things about the consumer. the headline overall is actually a 10th of a percent relevant 6/10 of a percent. -- rather than 6/10 of a percent. flipside, the retail control group which may be more pivotal rose by a 10th of the major 13 categories, you did see an increase in u.s. sales, it is a have in a have not but a stea

carl icahn takes a shot at dell.e is slamming the tech companies return to public markets or at least the effort to do that. we have the details. let's get straight to abigail doolittle. abigail: we are looking at wishy-washy trading, traders still digesting the work we still the three major averages since march. right now, the old are trying to step up with the dow up slightly and the s&p 500 and the nasdaq art to the downside. the nasdaq is at the lows right now. tech is the worst the sector for there is00 but something to make note of around the banking index which is the fact that it is below its 200 day moving average. this chart is remarkable. and back5 year chart in 2017, a slight dip similar to earlier this year and now we drop below that average that a sloping to the downside was tell you the buyers have exited and the buyers have stepped in. -- and the sellers have stepped in. this chart may suggest unless there is a sector that offsets this week is that the banks could be a drag on the broader indexes. all

rally fails to restart and carl icahn is with us live and exclusively as he gears up for a new fight with michael dell "the halftime report" starts right now. >>> welcome. it is good to have you with us on this monday here to debate and trade the biggest stories of the day, joe terranova, jon najarian, kevin o'leary is the chairman as well as a cnbc contributor, nancy davis is the chief investment officer of quadratic coast, and jim cramer, host of "mad money." stocks are attempt to go bounce back from last week's carnage. tech off its worst week since march. some of the biggest names are under more pressure. jim, big tech. amd, 23. and on and on and on is that the key to the markets >> yes stunning declines. i did a teach-in this weekend, everybody came up to me and said do you think the crash is about to occur i said, have you looked at the stocks on the nasdaq they crashed look, you came in one day and you saw intel down this much, nvidia down, you would say, holy cow. how are the companies doing? the answer is the companies are doing pretty good. i think the idea now is the time

carl icahn likes it. morefa meyafr is "ston" teth at&t provides edge-to-edge intelligence, covering virtually every part of your finance business. and so if someone tries to breach your firewall in london & you start to panic... don't. because your cto says we've got allies on the outside... ...& security algorithms on the inside... ...& that way you can focus on expanding into eastern europe... ...& that makes the branch managers happy & yes, that's the branch managers happy. at&t provides edge-to-edge intelligence. it can do so much for your business, the list goes on and on. that's the power of &. & when this happens you'll know how to quickly react... money. pete najarian is excited about this next excite pmt metahe got up and ran to the plasma take it away. >> i'm giving you ebay this is interesting. because this stock has not been performing but i'm telling you why exactly i like this stock. when you look at the ceo he has been absolutely laser focused. this is a gentleman with the company since 200

vonnie: carl icahn is coming out against dell's plan to return to public markets.argues the proposed transaction undervalues -- let's bring in scott to vote. dio.ome to the stu in 2013 michael dell and carl icahn squared off over the privatization of dell technologies. now they are doing the opposite, squaring off over the proposal to go public again. vonnie: icon will try to go after your members in order to get support for this. how successful will he be? against thevotes transaction. he said this morning in a letter to shareholders that is going to solicit votes against the transaction because he thinks it undervalues the tracking stop known asdvmt. guy: amid one 40's by you wish and, how is he getting to the number? why does it differ so greatly from the number dell is sticking on? scott: i think the fundamental issue is the valuation is being ascribed to dell's core shares. there's been speculation that perhaps their overvaluing their shares. the icahn thinks fundamental value of dv mt is about 144. when this tracking stock was created it was supposed to trade

carl icahn came out and said that he opposes the transaction that dell is trying to do. you are seeing a bit of a pop today as you see public opposition crystallized. this is a complicated transaction but the premise of the pushback is that bb&t is meant to track vmware. big difference from where dell is tracking and vmware and bb&t trades. when you are calculating the value of the stock and cash deal, the value of the stock component is too high, much higher than the market valeues the core of dell. carl icahn is proposing a potential partial buyout of bb&t holders, to still provide an opportunity for those who want to fight the transaction to do so. romaine: thank you -- scarlet: thank you, brooke, and your entire team. cameron i want to bring the topic of saudi arabia and oil into the conversation. we're trying to figure out what happened to the saudi columnist. how much of that and saudi arabia's intended use of oil as a weapon takes up a lot of your thinking? >> clearly, if we return to a 1970's paradigm where the saudi's take production off-line, and you get an oil

carl icahn joined a lot of shareholders in opposition of that deal. t that i don't believe that the company cans s successfully move to option b. mr. icahn yesterday joined scott walker and i in an interview and he discussed one of his key reasons for why he thinks that ipo is doa, and it has to do with delaware law. take a listen and we'll explain more >> they can do ipo we are not objecting to ipo. you can't go say by the way if you don't take the deal i am offering you now, we'll do an ipo. >> and he's pointing there about fairness and this orning, ther is a no doubt - analyzes these kinds of situations. under delaware law in a transaction of a controlled shareholders, requirements must be satisfied in order to avoid applications of entire fairness. they go onto say the vote of minority shareholders must not have been coerced. the timing of dell consideration for additional ipo is contingency if it is not appr e approved by shareholders and created an argument that entire fairness applies that would seem to be where mr. icahn want to go in terms of

poefz isew yor reporteding that billionaire investor carl icahn has taken a stake in dollar tree. it was unclear whether icahn plans to push for management or strategy changes at the company. doll tree shares popped 6% on the report to finish at $86.50. and united continental beat analyst enings estimates appear boosted the 2018 forecast for the third time this year. the company said its results were helped by added flights in the hubs in chicago, denver and houston. the stock rose in initial after hours trang after rising more than 2% in the regular sessio>> tensions out of iran and saudi arabia drove oil prices ig slightlyr today. the price of domestic crude settled around $7 but as prices rise so too are the investments made in offshore drilli, because it's the very same investments that could help keep oil prices in check. brians sullivan i on a shell rig in the gulf of mexico off of the new orleans coast for us tonight. >> we got a rare andxc broadcastingsive opportunity to be on one of the biggest platform in thed,wo the shell ofrpis in the mars field 130 miles out of the gu

companies are supposed to do and what the relationship is looking like >>> carl icahn urging voters toe are the shares that track the investment in software maker vmware icahn said he accused dell of trying to buy the shares at a bargain basement price this is happening all over -- it's like deja vu. don't miss carl icahn. he's live on "the halftime report" today. i suppose he'll have words for michael dell >>> sears filing for bankruptcy protection that happened overnight. they will close another 142 stores before the end of the year eddie lampert is stepping down as ceo but will remain as chairman >>> among today's top stocks to watch, we've got bank of america. earnings and revenue topping forecast the bottom line was helped by lower interest rates here's word from the last hour >> a big part of that is credit if not the credit quality improvement isn't nice, but lower credit costs i mean, net interest income was better than expected would like to see better loan growth and deposit growth, but the earnings margin was solid. >> shares up to $28.70 this morning. >>> stocks trying to r

they're backed by billionairein stor carl icahn and icahn enter prizes. that soared to $70 >>> polaris industries reported solid third quarter results despite trade concerns. the maker of atvs and snowmobiles saw double digit increases in sales and profit thanks in pt to the newly acquired boat business. the company expects full year les to grow between 11 and 12% and the stock rose more than 2% today to $92.74. >>> the fda delayed the approval deadline for one of bristol-myers squibb's cancer treatments. they expect the regulator to rule by next may on its experimental treatment of drunks cancer.t lung this does not reduce the delay of an eventual greenightut the stock fell 6% to $50.88. kimberly-clark reported better than normal earnings. michael suh will take over next year. the change comes ad a company restructuriur restructg. like other package goods makers they're facing rising commodity and transportation costs. d the stockpped more than 3% to $106.40. >>> caesar's enttainment is reportedly set to reject the takeover offer from tillman fratti t. t

yes, i'm not kidding when i say when they hear the name carl icahn amassing certain shares, here comes bruce the great white shark. people get a little nervous but investors seem to feel these are companies that may need a little jolt. that's the icahn jolt. >>> let us get back to big pharma. team trump taking aim at some of the biggest pharmaceutical names, calling for more transparency when it comes to the high costs you pay of prescription drugs. listen to what health and human services secretary alex azar said last night. >> what the president is proposing is that drug companies would have to put the list price of their drugs in their tv ads so that way people know how much a drug costs when they go to see their doctor, whether it's a $50 drug or a $5,000 drug. they can factor that into the discussion they're going to have with their doctors. liz: both merck and pfizer which are dow components are moving higher by about 2% or the other names, eli lilly up a quarter of a percent. j & j is up, allergan up. if we continue this conversation, we know it matters to all of you not just as

a parting of ways of the that's what activist investors carl icahn has with trump's criticism of the play back some of that exclusive interview from "the halftime report" come up next here on "closing bell. i don't know what's going on. i've done all sorts of research, read earnings reports, looked at chart patterns. i've even built my own historic trading model. and you're still not sure if you want to make the trade? exactly. sounds like a case of analysis paralysis. is there a cure? td ameritrade's trade desk. they can help gut check your strategies and answer all your toughest questions. sounds perfect. see, your stress level was here and i got you down to here, i've done my job. call for a strategy gut check with td ameritrade. ♪ issue with president trump's harsh criticism of the fed hear what he said. that is ghafr e ea rit tethbrk. what do advisors look for in an etf? i tell clients, etfs can follow an index, but which ones target your goals? it's not about quantity. it's about quality. no trendy stuff. i want etfs backed by research. is it built for the long-term? my reputat

record that billionaire investor carl icahn has taken a stake in the company.inally, where we do not have a talent the bloomberg index down a second day in a row, perhaps helping to explain the risk we have. investigators -- investors not looking for the safety today. vonnie: thank you. equity markets last week. we will pick up the volume and volatility. guest, when it comes to the direction of the stock market, investigators -- investors should be being attention to. and -- joins us from detroit. i was speaking earlier and thing . -- anthony. exactly are investors looking for? are going tombers be great for q3 and q4. 19% earnings growth expected for q3. we have good reports from financials and health care today. 80% of the companies reported have beat estimates. that is a trend we have seen all year. it should continue to the rest of the year. what investors are focused on is they are focused on that forward guidance. 4 but over ther next few quarters, what does 2019 look like? what we have been talking about is what are companies saying about interest rates?

all of this on the new york post report that the billionaire investor carl icon -- carl icahn is rallyingathy. david: coming up, former ambassador met bachus joins us to talk about u.s. china relations as trade partners and political rivals. this is bloomberg. ♪ you are watching balance of power. the u.s. trade dispute with china continues with the ambassador going on american tv saying they did not want a trade war but they were ready. notice whoportant to started this trade war. we never wanted to have a war but if someone started a trade war against us, we respond and defend our interests. bachus --welcome mat max sieben baucus. welcome. you heard what the chinese ambassador said. the chinese prepared? did they have the wherewithal to combat us on trade? >> i think they do. we do not want this but if you want to start in america, we are prepared. it made the chinese concerned about who the deal with. he said a couple or three times to me, we do not know who to talk to. the president cannot make up his mind. i think they are confused. i think they are prepared and the chinese in my judg

stuff has started to come online remember what the guy tells us, he was shannier, he got sacked by carl icahn. hess, used to be a down and outer. up 30% con conco gained and anadarko gained. the refiners have been killing it here. what about going forward what are the best energy stocks according to the power rankings? and yes, we will keep you up on the power rankings just like they do on the nfl my favorite here is marathon pete when we spoke to ceo gary hemming, he expect his company made a fortune a few months later marathon announced it was an endeavor. making marathon the largest refiner in america and that is huge, people while wall street was skeptical, they have come around. because this industry is on fire the deal closed two weeks ago. and marathon is the undisputed king of the refiners and we will hear more about the newly combined business of marathon's investment day in december you should buy this stock ahead of it. at a time when oil is trending higher, you want to own the largest refiner in america it sells for ten times the earnings ten times the numbers. that is pretty chea

vonnie: activist investor carl icahn is agitating against the plan to return to the public markets, arguinghe transaction undervalues shares that track at stake in the vmware. >> what he is doing is coming out against this plan to go public, saying the price that dell is offering to buy these shares in which he holds an 8.3 percent stake, the price is undervaluing the true value of these dvmt shares. also, he is saying as well that the threat of doing an ipo as well is part of the scaremongering in order to get people to vote for the transaction. >> bill gates says that personal computing would not have existed without paul allen. the billionaire cofounder of microsoft died yesterday from complications of non-hodgkin's lymphoma. he was 65. allen stepped down from microsoft for health reasons. in the past three decades, he turned his microsoft stake into a fortune valued at more than $26 billion. >> he spent billions of dollars and lost billions of investing in cable dollars tv and other companies. his most recent huge success has been real estate in seattle. he created almost a second fortu

. >> that's carl icahn joining us on the halftime report a quick look at the market dow is back in the green there's a lot of focus everybody is focussed on what continues to happen with the nasdaq and the sell off in technology nasdaq under pressure. power lunch picks up the story now. >>> thank you. welcome, everybody to "power lunch" here is what is on the menu for a very busy monday the fangs have a cavity after showing signs of life on friday, they're getting hit again. should you as an investors stay away or is now the time maybe to nibble a little bit? >>> plus secretary of state pompeo on his way to meet with the king of saudi arabia this as the country denies it has any knowledge of what happened to the missing journalist khashoggi what impact could a strained relationship between the two nations have on the world economy and specifically on oil? >>> fidelity gets into the crypto world will it breathe new life into a market that's had a rough ride this year? "power lunch" starts now >>> welcome to power lunch >> right now the nasdaq is leading the decline to the dow and s&p 50

still, famed investor carl icahn wonders if the bonds have any value. >> obviously there's a lot of problemsre, and, you know, now it's in bankruptcy, and it may be some of the bonds will be interesting. we're taking a look at some of them. >> reporter: sears bankruptcy could actually be a positive one ceo said it's been very difficult to lease around sears for years, and he said one example of a redeveloped sears in its shopping centers is generating four to five times the rent that sears was paying former sears locations at it shopping centers are generating about nine times sears rents melissa. >> big difference. thanks, court. so is sears waving the right flag a red flag for other retailers? let's break that all down. hey, carter. >> i don't sears has anything to do with other retailers, its own issue and own problem and it is a case of how the mighty do fast thousand dollar we'd do a little history and talk about amazon. what i have here, is of course, some of the all-time greats. woolworth's is the greatest retailer in its era. sears eclipsed woolworth's in the 20s and then walmart in

so carl icahn, when he was seeking to break up the deal between express scripts and cigna, he did discloset express scripts and long cigna, but he didn't have to do that >> he did it voluntarily >> leslie picker, always bringing us interesting stuff. thank you. >> green mailer was on "jeopardy" the other night >>> coming up, pepsico out with earnings and it's indra nooyi's last day >> last day. she deserves credit. >> sara covers soda and food >> a horse walks into a bar, bartender says why the long face that is not what happened here it's like why are you here okay thanks we'll tell you what's going on in this video after the brea k. at&t provides edge-to-edge intelligence, covering virtually every part of your finance business. and so if someone tries to breach your firewall in london & you start to panic... don't. because your cto says we've got allies on the outside... ...& security algorithms on the inside... ...& that way you can focus on expanding into eastern europe... ...& that makes the branch managers happy & yes, that's the branch managers happy. at&t provides edge-to-edge inte

kate spade handbags and a 4% increase in comparable sales at coach stores >>> carl icahn increasing his icahn is opposing the deal for the computer maker to buy out dvmt shares which tracks dell's investment in vm ware. and mondelez topping estimates bottom line helped by higher pric prices >> i like mike with a little bite we approve >> all right next time i'm not going to do anything we'll be fine. >> liar. >> there won't be any music. >> no, i can't help myself i know >> liar. >>> when we come back, morgan stanley thinks this selloff is morphing into a bear market. mike wilson will make his case next stay tuned why are you so good at this? had a coach in high school. really helped me up my game. i had a coach. math. ooh. so, why don't traders have coaches? who says they don't? coach mcadoo! you know, at td ameritrade, we offer free access to coaches and a full education curriculum- just to help you improve your skills. boom! mad skills. education to take your trading to the next level. only with td ameritrade. from capital one.nd i switched to the spark cash card i earn unlimited 2%

erik: you can't possibly be referring to carl icahn.ferring to our view is we think we can make companies more competitive in better position over the long run if we think about a longer-term view, a three to five-year type view. we're looking at both capital allocations specific changes initiatives,ategic operational improvements, capital structure changes, as to makeesg changes link companies on a systematic basis more competitive and more profitable over the long run. erik: what you described sounds more like private equity than it does hedge fund. >> yes. erica except it is public companies. >> our approach is similar, but we're not levering up a company were taking majority ownership positions. we are looking out over many multiyear. periods totiyear affect change in a positive way for the company so that it could drive a great shareholder return. erik: explain this esg component. the reason i'm interested -- there a lots of reasons, but let's say, esg means a lot of things to a lot of people of many of those people say, you know w

. >> later on the halftime today, carl icahn, why he's urging shareholders to vote against dell we areack in a moment. let's get started. show of hands. who wants customizable options chains? ones that make it fast and easy to analyze and take action? how about some of the lowest options fees? are you raising your hand? good then it's time for power e*trade the platform, price and service that gives you the edge you need. alright one quick game of rock, paper, scissors. 1, 2, 3, go. e*trade. the original place to invest online. >>> we got six minutes before we get started on trading here at the nyc. first trading day of the week. let's talk about our first "mad dash." we are talking about attention to details how can eddie run hedge fund and also run sears >> the ceo of lowe's has brought him in this is the time to buy lowe's because all the attention detail that he brought is going to close the gap between lowe's and home depot i happen to post a picture from lowe's they fixed it up and he's attention to detail guy. that's how you turn around eddie did not have attention to detail bec

. >> not a merger on monday, not even close it is a carl icahn related transaction.ooking. arii, american car industries. 62% owned by mr. icahn they're selling to a fund. ite rail fund, they'll pay 70 bucks per share in cash. you can see it is quite a premium, is it >> yes >> 51% premium to close. transaction values is about 11.5 times 2019 consensus i just want to mention it. we are in for mr. icahn. he's got plenty of money >> his performances have been better lately but mix when you look at big numbers over a long period of time many energy investments he made did not pay off until at all or recently he's involved in the dell fight. dell does have a meeting date now, the 11th of noviember is when they'll have the meeting. the tracking stock for vm ware for actual dell and cash there is great opposition to it. mr. icahn believes they'll not be able to do it and won't get the vote in favor and does not believe that they'll go public because he thinks it would be incredibly diluted and opening it up. in delaware in terms of fairness, worth going into it and with a l

what we saw with apple when steve einhorn got involved to capital return and then we saw maybe carl icahnof cash, probably more than they need so net of cash we think the stock is cheap and good business model. we've owned it for a few years now. >> which is cheaper, google or facebook >> facebook. >> but deservedly so, right? >> yes, but i think it's gone too far. the stock is 217 to 143. >> you said you didn't want to see more nasty surprises but there's questions still on engage and cost and everybody hates them right now because of what's happening politically and the scrutiny for social media. >> again, it's -- the wild, wild west of facebook is over, we know that and i doubt the executives want to -- >> by that you mean hyper growth at all cost? >> right i don't think the executives want to travel back to doc sit -- d.c. to sit in front of congressional committees i think they have the resources to protect day, to right the ship, to be more transparent for advertisers. they're almost at monopoly status i don't think there's a lot of good expectations down here at the share price. >>

carl icahn has come out against dell's plan to return to the public market.undervalues shares that track it the 22 billion dollar proposal calls for the computer maker to buy out the tracking stock before listing its shares on the stock exchange. -- global news 24 hours a day and at tic toc on twitter, powered by more than 2700 journalists and analysts in more than 120 countries. i'm taylor riggs. this is "bloomberg." francine: thank you. rags and talks have ended in a stalemate again. a weekend -- brexit talks of ended in a still made again. -- ended in a stalemate again. that they had one hoped to finalize the divorce. joining us now is the bloomberg brexit editor. she is the outstanding writer of our brexit bulletin. can we read a lot into it? noises have been we are working toward a deal. saying had jeremy hunt we are working toward a deal. there are obstacles. we thought yesterday afternoon that things were looking up and withtep back the dinner leaders wednesday night is even more interesting. negotiations are paused until the summit. andave gotten this

look at this list of talk,, so much of it is what is your method difference between some of my carl icahn stocks for the long term. when we approach companies, it is from the perspective that we have owned you for three to five years and have watched the evolution of the business. we don't pretend to know how to run the business but we have strong views on dividend policy and how to communicate with the financial markets. the shell you get is a function of the strategy around corporate communication and the metrics used to communicate the message. we are looking for companies that can articulate clearly and create long-term shell. when the mosaic becomes bad andgh that we get agitated start to think if there are remedies behind the scenes we can bring in that will enhance capital allocation. where you environment want the best assets. it puts the focus on environment . we are at the part in the cycle where the winners and losers will be defined by cash flows and how to grow shell devalue. do you company pick or look at industries you believe will outperform? charles: the winners and loser

we want to give you this, carl icahn with another battle with michael.eryl: the activist investor is taking on dell when dell took computer private back in 2013. dell propose to go buy dell technologies for 22 billion, list its own shares on the new york stock exchange. icahn plans to stop michael dell, merger monday, harris and lv technologies in latest merger ever in defense industry, military communications and defense electronic's giant with market value of 34 billion, shares of harris are up 9% this year while shares of l3 technologies are down 1%. box office news, venom continues to hold onto the top spot at the movies. >> we cannot just hurt people. >> what do we want? cheryl: yeah, the spider-man spin-off brought in 36 million, star is born in second place, $28 million, opening in third this weekend first man with pretty lackluster, 16.5 million, movie stars ryan gosselin, had intense controversy around it, the film would only it -- omit the moment when armstrong planted the flag. goose bumps and the patriots and kansas city chiefs with first los

paul singer, carl icahn, you know a lot of these names. okay, why are they permitted? we start getting into the market fundamentalism issues. i am here with ken jacobson. we are finishing a paper, we have been working on it the past three or four years on the adoption of rule 10b 18 in november 1982 by the security exchange commission which basically is the license to loot. it enables companies, encourages companies, in fact, to do buybacks. it says you can do up to 25% on any of dave your average trading volume over the previous four weeks. it's safe harbor so even if you go over that amount you won't necessarily get charged with manipulation of the market. in fact, the sec does not collect data on this because the chair of the sec at the time thought it would be too burdensome on companies will self regulate and don't worry about it. by 1984 -- this is not something new. that's when stock buybacks started. they have escalated, gotten greater but it is not something that just happened in the last few years. the reason 10b 18 was adopted was simply romd reagan got elec