we understand that citigroup about $4o settle for billion.was rejected by the justice department. that is when the tension against to increase. the justice department threatens to sue citigroup. we have seen this play out before. we're certainly seeing it play out in other places. but that has to do with money laundering and antiterrorist financing. aboutndamentally it is the justice department feeling stronger, exerting its authority. they say pay up, or we are going after you. jpmorgan had to cave, bank of america is in the process of doing the same thing. >> when the justice department can leave you hung up and hung out to dry -- when you hear numbers this big and talk to analysts on the street, they are starting to say it is as though the department of justice is just picking these massive numbers. it feels like they are out of thin air. >> we are going to explore this. kerri will join us to talk about these negotiations. but here is what i am thinking about. back when jpmorgan was negotiating with the justice department, and ended up pay

morgan and citigroup.y had done a lot more business outside of north america than wells fargo, to the point that you just made, there is a lack of harmony among international regulations. is that hurting business institutions? >> there is no doubt that this is a problem but in the case of city, the franchise on the international side, they have always paid off in the long run. i think that the challenge for citibank, and mike corbin is trying to implement this, is to get back to the basics, of what citibank used to be, before the merger. >> how would you describe this? what was citigroup's business back when walt ran it? >> that is where i got to know dick, he was a great consumer banker. he ran consumer banking in the metropolitan area. there was the international consumer bank and that is what the trusts were. corporate banking was in there as part of the international. and that was a core franchise. international corporate and consumer. see as that mean we will total wipeout of management at the end of

citigroup forsked more than $10 million to complete a program. to breakrs have set off talks and sue the bank to solve the matter. >> another top headline today, and all cash offer that dinerseliver 15 million across 31,000 restaurants. forwhat consolidation means the online reservation industry, we're going to bring in opentable competitor ureserv. paul, how did they come up with this valuation? the good news is that priceline can afford it, it is less than five percent of its market cap. what it does for priceline is that it opens up a whole new vertical for priceline in terms of online reservations. it up the restaurant segment for them. they are already a leading player in the hotels, and rental cars come up with this is a good acquisition. the market feels positive. >> what do you make of this deal? it is something that we felt was going to happen. we have seen a lot of movement in the reservation space. -- he p just urchased a competitor. more aggregation sites and more restaurants will be able to be found in more sites. reserve --how you u

the sec has accused citigroup of selling $1 billion of deceptive mortgage-backed securities in 2007.itigroup made $160 million in profits on the transaction, while investors lost seven hundred million dollars. the judges decisions did have a major impact on how the sec settles cases with major banks down the line. on wednesday, the second u.s. circuit court of appeals said the judge abused his discretion by applying an incorrect legal standard. the overturning of the decision means the settlement will likely be approved. the oil giant bp is facing new finds for its 2010 golf oil spill following a new court ruling. on wednesday, the fifth u.s. circuit court of appeals upheld a 2012 decision that bp and the company anadarko petroleum should be fined under the clean water act. they have large stakes in the well that blew out and caused forced offshore oil spill in u.s. history. the ruling could lead to billions more in fines. new workerfacing strikes this week in 20 cities nationwide. employees have walked off the job since last friday calling for higher wages and protesting alleged wor

global head of equity trading strategy at citigroup. here is what else is coming up on "on the move" today. chancellor osborne takes a hard line on libor. we'll look at whether the world cup brings a windfall to the host country. >> i'm mark barton in london. this is "on the move" streaming online, on your phone and on the mazon fire tv. further industrial action, operating profit will fall by with the exrared previous target. ccording to aer ling us. shares down 2.01% because of that profit warning. now we got some breaking news on france's biggest bank in the last 13 minutes. one of b.n.p. paribas' co-c.e.o.s is stepping down. the u.s. had been pressuring the bank to dismiss george chodro nmp. we have details. is this linked to the alleged sanction violations or not? >> well, you have to believe it is. because his name is being deemed, tried to be pushed out in many press reports. i mean you can't disdowntown fact that regulators are under a lot of pressure to hold individuals responsible and not just go after nameless corporate eptit

reports say citigroup offered $4 billion to settle the charges but the feds are looking for much more, shares fell about 1.5% to 7.59. >>> and the owners of uni vision looking to sell the company for $20 billion. the spanish language giant is talking to cbs and time warner, according to those reports. it was expected that uni vision's owners would take the company public next year, that option still being on the table. shares of both cbs and time warner off slightly today, cbs closing at 60.45, and time warner. >>> and still weeks away, they have agreed on some terms, reportedly the merged company will be branded t-mobile, not sprinlt. the two agreed on a $2 million break-up fee, shares up to 8.73, t-mobile to 32.91. >>> disney expects the global retail sales of the infinity game to be launched, shares were unchanged for disney at $82.80. federal regulators looking at claims that verizon and comcast are responsible for slow content streaming speeds, netflix has been complaining about deals they cut with the two companies to ensure they get the videos without hitches, shares up, verizo

one is citigroup.sh case on citigroup -- bearish case on citigroup. >> according to analysts, declines of up to 25% year on year will weigh on results for this quarter and potentially the full year. there is no timetable for the plan to return cash to shareholders. investors are not getting paid to wait as they trail other banks and the broader market. legal expenses are a wild card. they could be up to $10 billion overall. >> lots of headwind. >> there is a lot of reason to be bearish on citigroup that has resulted in low multiples. along the way, it is well-capitalized. it is cheap. they did should themselves in the foot with the revision, but it was qualitative. there is no reason to think they cannot have a successful submission next year. that would put them on the path returning shareholders -- capital to shareholders. they have exposure to good growing markets and credit cards. williams,ou, bernie chief investment officer at usaa. what is the biggest business in your home state? we will have tho

one sector that never has recovered from 2007, we're looking for unique franchises, city -- city citigroupthat bill. right now trading at 70% of book value, if they liquidate now you have more than you start with. liz: jeff, everyone said that a million times today utility have been best performer in first half, i would think that convent yoconventional wis some ul be do not go into utility. >> i agree, they can get 4 times x spinning off a division than keeping it within the holding company, i think that citigroup may do that. liz: you don't have financial on your favorite company, you like urid yun, good rich, weyerhaeuser. >> a second derivative play on a pick up in housing market over week there was an article about first time buyers returning to housing market, wee wayer e -- wayer houseer is a beneficiary of that. >> ibm is an example. liz: why? >> they plan to return 50 billion to shareholders through 2015 in terms of stock buyback, and pi dividends. liz: i want the business to did well. >> chinese are saying they would love to get rid of ibm or other u.s. manufacturing companies bu

what are your opinions on citigroup? >> no, i don't want to own citigroup. nothing there.re are so many other better banks. >>> frank in idaho? >> caller: >> caller: he hello, jim. how are things with you? >> not bad. thanks for. >> caller: >> caller: i'm fair. i'm in one of the thinks assisted living places in boise. i've had a pretty good life and have an investment in pengrowth energy for -- >> right, that's got good yield. here's the problem, it's canadian. i can't recommend the canadians. they have different tax considerations, and people say, wait a second, why did you put me in that? but it's been a decent story. tom? tom? >> caller: yes -- >> tom is breaking up. any way we can find out what tom is asking about? all right. we'll get tom tomorrow. that's a shame, but what can we do. >>> and that, ladies and gentlemen is the conclusion of "the lightning round"! [ male announcer ] once, there was a man who found a magic seashell. it told him what was happening on the trading floor in real time. ♪ the shell brought him great fame. ♪ but then, one day, he noticed that ev

and citigroup over mortgage-backed securities. proposed settlement that didn't require an admission of guilt. the judge wanted to bes satisfied that his court wasn't used as a tool to enforce an unfair, unreasonable, inadequate agreement. the second circuit court of appeals said that ruling was in error. the judge applied the wrong legal standard. now the case will go back to that very judge who is declining comment. citigroup declining comment. the s.e.c. has not responded to our requests for comment. back to you. >> thank you very much. when we come back, cutting the cord has a new meaning. the way intel wants to simplify the p.c. experience and behind apple's bet on hk technology. the zocdoc is here to tell us what it means for the average person. and men, how do you rate on a scale of 1 to 10? a scale that lets women rate the men they have been out with. but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one plac

. >> look at citigroup. big underperforming in the financial space. shares around 2% on reports the department of justice is looking for $10 billion to settle charges relating to the sale of mortgage backed securities in the time leading up to the financial crisis. earlier on the closing bell leon cooperman said this about the doj probe. >> the government's behavior is absolutely disgraceful. they want to encourage financial institutions to lend, the last thing they should be doing whether it's bank of america, citigroup, jpmorgan, fining them enormous sums of money when the government itself was as much responsible. >> that's a fair point. it doesn't help you trade the stock but he makes a good point. he mentioned three points that have what we used to call tape bombs in the stock for the last six months to nine months. jpmorgan, citi, and bank of america. citi is interesting if it holds 46.5, 47. but there are other banks that have been impervious. u.s. bank corp in week and it closed on an all-time high. not an interesting name, not a sexy story, b

>> sold citigroup and i'm buying suntrust. i've liked suntrust far long time.eason i like it is i see growth. i think you'll seibert than expected loan growth than the industry average. we also have an aggressive cost-cutting program so the efficiency target is 60%, at 65% currently, and as they lower their expenses and see higher top line, you'll see positive operating leverage. i think there's more upsides than citigroup. >> you're not making a statement about the big banks in the current environment by making this trade. >> no. if i had to own -- and we do own several of the big banks, i actually think the juice is at goldman because i think you'll really see the judgment side from m&a and that stock has massively lagged morgan stanley in the last 18 months. if you're going big, go there. >> coming up, see a theme out there but don't know how to invest in it? there's a motif for that. hardeep walia has baskets. with all the opinions about stocks out there, how do you know which ones to follow? the equity summary score consolidates the ratings of up to 10 ind

. >> citigroup, it is not surprising. is the third most held stock among hedge fund we track. so hedge funds who have master resources to spend on stock research are saying city group is a great buy. we were not surprised to see insiders buying that up. adam: not just that. >> not surprising to see a spin-off do really well. it was 37 two years ago. and insiders actually bought it at higher at4. they thought it was a deal at 84. adam: down a little bit today. >> it is, they're probably right, it will do very well. liz: we have breaking news on intel, the world's largest semiconductor company. let's get right to it. intel has good news. it is raising both current quarter and full year expectations what they expect to see as better than expected sales of business pcs. now we all know the pc market has really been either plateauing, flattening, dropping. this seems to be a good piece of news. the market is responding relatively solidly. intel close was $27.96. the bid now, $29. adam: we love to talk about tech but go back to

shire has hired citigroup as a strategic adviser as it braces for likely takeover offers. that sent shares of shire raising 6.5% today. >>> we have another acquisition to tell you about, a $5.5 billion deal between level 3 communications this is the internet service carrier and tw telecom. shares fell 4%, but tw rose more than 7%. >> yet another big acquisition now facing a big hurdle. a few weeks ago, general electric bid $17 billion for the energy business of the french engineering giant all star. that offer ran into a lot of resistance from the french government on concerns of noneuropean ownership and possibly lost jobs in france. the german engineering giant siemens teaming up with japan's mitsubishi has bid more than $5 billion, breaking up its energy unit and becoming the first real competitor now that ge bid. >> let's break down some of today's deal news with david favor. we don't know where to begin. so many deals you've been following all of them. it seems like there's a theme, some being done for tax reasons, metronics, some done for strategic reasons. why are w

in the crisis, quite clearly, many claims, anyway, and it's quite reasonable to think that citigroupnd bank of america, too, became insolvent. if you were to try to liquidate them on that minute, they wouldn't. they just have negative equity, okay? they wanted a war. which, the corporation usually forces the bank to join. instead, they were nursed back to life from zombies, you can call it. so, the thing to do is, any corporation, normal corporation that becomes, that lives on the edge and has creditors breathing down their neck is going to be forced to go to ask shareholders for money and show them what their business is. i want the banks to go to shareholders, to investors, to equity investors. first of all, they're paying all their earnings. they should back up their deposits and everything else. they should use them for lending, use them for anything but to pay them out so they can keep borrowing. and then, my stress test is a very simple market test of that. all even, you know, all in this country, all the capital. go sell your investments to some shareholder that bears a downsi

look at citigroup, $10 million. $1 million. -- paribas, $10 billion would that number come from? do you know what i mean? >> i'm not involved in that. >> i realize that, but you have a much better window into the workings of the boj benched that -- than sheelah kolhatkar and i ever will. perception, if they are that they are random and did not have a basis in fact, they risk credibility and to take the risk to the public will look at this and just say you are trying to extract large dollar amounts from companies to declare the three when you're not charge any particular individuals. i would prefer to see the government focus on individuals, preferred to the government find whether any particular individual committed a crime and then go after the individual if they have the evidence, rather than focus on a particular company, which is essentially owned by shareholders. >> reed brodsky, thank you very much. >> thank you very much. >> he is the former assistant u.s. attorney for the southern district of manhattan and h

head of the new york fed while robert rubin was a vice chairman at citi group trying to solve the citigroup problem before everyone knew about it back in two thousand and seven so his books interesting because the indicates he had no knowledge of anything that could possibly have been happening and that somehow he was this hero because at the darkest hour he and sort of all the other. people who were in the elite forces who were able to get together and buy and trade and get cheap money and sort out assets which is still going on today he was someone who had to do what he had to do so positions himself as sort of this like super hero who had no choice and we the little people including apparently you and i and anyone else who noticed this going through along the way don't have the understanding the comfort henschel to know how difficult it is now particular position to make a decision and he did the best he had to do and he wouldn't do anything different but the result of course is that we have this cost money for all of these big institutional players the biggest banks have only become big

. >> the federal reserve has extended deadlines until next year for capital plans from citigroup and hsbc. stress tests measured how banks would handle a financial crisis. at morgan stanley they received 90,000 applications. a little over 1000 positions. and dreamworks' big sequel is dragging. the movie was a miss at the box office and dragging dreamworks to a loss. >> the chief executives of at&t and dreck tv are defending their $48 billion. they testified before house members. megan hughes has been covering all this. do lawmakers seem to be for or against this combination? x that is a good question. you did not hear a lot of direct attacks from lawmakers. we did hear some tough questions from senator al franken but we heard more broad concerns bemoaning the state of the merger landscape. saying we cannot consider this plan in a vacuum. it has been a to the executives to say why this is different, why he argues this is going to be it for consumers. here are some of the stats. he says content costs will be lowered by 20% for subscribers and there will be 1.6 billion in cost synergies

tobias lentz gurevich wolde-giorgis from citigroup. michael hall and will join us. me, i'm joking. michael hall and will also join us. all eyes over here, also on the world cup, but wimbledon is getting underway -- playinga, the u.s. is still, i believe england has gone home. >> or have been a few tears here. but what about wimbledon? are you backing andy murray? i know you're a hockey guy. >> wimbledon? can you get me tickets? i will come over if you and i can't eat strawberries. >> can we expense them? i do know, 5000 pounds per ticket. wimbledon.ore on thousands of fans are there is the oldest tennis tournament begins today. if you're a low ranking player, even more reason to show up this year. hallowed turft's has seen some of tennis's biggest battles and since the rise of one particular homegrown player, even more of a battle for tickets. peaceful. he doesn't get bothered by our members when he comes here to practice. >> the reigning champion andy murray, opportunity twice as much. but promises a reserved seat for every day of the tournament for five-year perio

citigroup in 2011, 10 chairs became one share, giving it the appearance of being a healthy company thatuble. in the long run, neither one really mattered. and we have one more real deal for you. first up, the backlash against charities. now there is a new report showing that this is tightening it even further on charity. thirty-three countries banning people from giving food to the homeless, this is absolutely not. >> i think it is absolutely nuts as well. i bring extra food for my house and give it to people in the subway station. why not? are not choosing to be homeless. overwhelmingly, people are saying this is the right thing to do and people are not supporting this. >> were saying don't do this because you are making someone homeless by giving them food. >> so he made no effort, i see where they are coming from. >> i don't disagree with you on that. >> i like to give away food, if i have too much. and then there's the guy in the west side highway and you want to say, you could have a job by now. charles: sometimes it is the right thing for us to do as people. and yesterday we talke

in comparison, citigroup gets into a cheap and contentious arena.same time, citigroup has none of the economics that bank of america does. we don't own them, we don't find opportunity in a bank like that. even in europe, though, with a bank's inability to continue to lend money off their balance sheet, it's going to make the m&a and credit markets -- people think that's a bad thing for the banks over there. it means there are going to be a lot of banking investment opportunities. rather than holing on to the books. >> cole, we have to leave it there. thank you very much indeed for >> what is the number that's one half of one quarter of one tenth of 4 hurn? that's another mental question. >> i'll get back to you ow that. >>> tim to. >>> wall street giants will be teamed to stick to the u.s. and not relocate to switzerland. details on that coming up here on "worldwide exchange." so what i'm saying is, people like options. when you take geico, you can call them anytime you feel like saving money. it don't matter, day or night. use your computer, your s

citigroup got rid of those directors and came clean.ut in place protections that i think where the gold standard. i would argue to walmart that there is a better way to work on these issues, a better way to approach these issues so it never happens again. that is why we are going to vote for new directors, because this company needs a more independent direction. >> walmart says they are objecting the compensation. they say they paid mike duke one .5 million dollars less because their performance in the last year was not up to par. they pay their current ceo half a million dollars less. they say they are addressing this. >> when you look at the compensation package and contrasted to the workers at walmart stores across the country, it is a speck as to what they should be doing. part of what we're learning about companies is the more you have a motivated workforce with adequate compensation, the value of the company goes up. cityber, as the new york pension fund is the fourth-largest in the u.s., when we invest, it is for the long-term. w

there is debate over how bad things could get, from citigroup to bank of america, they are saying thatact on oil to be pretty big if there is more violence. >> pretty big, but traders are calling this a fluid situation? >> absolutely. to pardon the pun, major companies started moving workers out of projects in iraq last. while the fighting has mostly involved cities north of baghdad , the bulk of assets are in the south and east. markets have not panicked because those rich regions have not been hit yet. >> su keenan, thank you very much. opec recently wrapping up trading. we will have details on that story in a moment. with massive debt and high unemployment plaguing puerto rico, the government is creating tax incentives to attract outside capital. when "bottom line" returns, we and 22 int 20 attending to bring individual businesses to the island. stay with us. ♪ >> now, back to our focus on puerto rico. tourism is an important driver of the economy erie of the puerto rican government is also trying to entice businesses and investors to stay permanently. to tax incentive programs and

citigroup say november is the first hike in rates. >> thank you. >> london's thriving tech scene takingcon valley. a study commissioned by bloomberg shows the u.k.'s southeast now has more tech jobs than california. this was the topic of a conversation with bloomberg founder mike bloomberg and the mayor of london, boris johnson. they sat down right here with a bloomberg businessweek editor. why cities are so focused on technology. you createextent, jobs that people can start businesses in and get to work when they are young. we'll have the problem of creating jobs. it does not require the space that big cities do not have. if you want a steel mill, you do not do it in the city. if you want people to work together, you go to london or new york. those are the two major cities. these are the two that are predominant at the moment. >> the interesting thing, the other day you might have spotted angela merkel saying something about britain's robin connections. it was striking and unusual. she is normally very suave. she does not bash people. i wondered why she said this. actually, there is so

citigroup bosh. >> let's get back to the white house plan with written on ukraine and the possible sanctions it could mean for russia. ryan chilcote has the details. >> the u.s. is preparing sanctions that would target the technology used in the gas and oil industry. this would effectively be a transfer of technology control where the u.s. government would have the power to review the transfer of that kind of technology on a case-by-case basis and if they wanted to disallow it, they could do that. this is something that they are looking at. they have not actually implemented it just yet. meanwhile, we have u.s. business groups saying they will put ads in american papers and the new york times, wall street journal, and here in the u.k. tomorrow arguing against sanctions. it is coming from the national association of manufacturers, from the american chamber of commerce saying that more sanctions, more u.s. sanctions against russia will cause -- cost american jobs and will lead to those jobs being seated to other countries who are not implement exemptions. >> what does this mean for its relatio

citigroup is down 0.6% in frankfu frankfurt. >>> and two u.s.have reportedly opened probes into whether a treasury department office tasked with policing money laundering may have violated federal hiring rules. reuters says it includes regulations over giving military veterans preference for government jobs. two congressmen are looking into the matter. grassley reportedly plans to object to president obama's nomination of a senior treasury official to be deputy secretary until his questions are answered. >>> we'll take a short break. still to come on "worldwide exchange," we'll recap some of the leading stories of the day. also coming up, we'll get into auto sales today. what are they going to tell us? particularly gm as well. more to come. show 'em the curve. ♪ it's beautiful. it's more than that... ...it's perfect. introducing curved ultra high definition television from samsung. >>> you're watching "worldwide exchange." >>> recap of the headlines, obama lands in europe where he will meet the new president of ukraine. >>> france calls the $10

. >> citigroup. >> guy. >> if we talk about facebook it had a monster day today. i think it breaks out above the 65 level. facebook going higher. >> our thanks to singularity university. it's been great being here. i'm melissa lee, see you back here tomorrow again at 5:00. more "fast" and "mad money" with jim cramer starts rights now. . >>> my in addition is simple, to make you money. i'm here to level the playing field for all investors. there is always a bull market somewhere and i promise to help you find it. "mad money" starts now! hey, i'm kramer. welcome to "mad money." welcome to cramerica. other people want to make friends, i'm trying to make you money. my job, entertain, educate, teach. call me, 1-800. -cnbc. or tweet me@jim cramer. when this market gives you a

citigroup is actually working on that right now, joining along to go ahead and pay this off to the government ultimately, to some the consumers as well. the stock right now took a little wit of a dip here -- little bit of a dip here you can see on that intraday. the dropoff is evident on this two-day chart. the stock is still holding on, financials doing well today, so the banking index is higher, holding on to a gain of about 1.5% going into the close. liz: nicole, thank you, and you should also -- and i know you do -- keep an eye on general motors' stock because it is less than 24 hours before ceo mary barra heads to capitol hill for a new round of testimony. her appearance comes on the heels of yet another general motors recall. this time for more than three million cars. in case you're not keeping track of all the numbers, and it's difficult to do so, this year alone on your screen look at those red dots. general motors has issued 44 recalls marked each by those red dots on 21 separate days covering more than 17 million defective vehicles in the u.s. alone. surprisingly perhaps, this has

morgan, bank of america, banks undergoing civil investigations of their mortgage practices, citigroup the list goes on. this is certainly a theme, melissa, that the department of justice and other regulators and prosecutors are touching on right now with their cases. >> thanks for the update. i appreciate it. kate kelly. still ahead, cnbc continues to celebrate 25 years. we take a look at what the dow will look like 25 years from now the trader's name, they expect to see as a part of the index by then. stay tuned. tdd#: 1-800-345-2550 there are trading opportunities tdd#: 1-800-345-2550 just waiting to be found. tdd#: 1-800-345-2550 at schwab, we're here to help tdd#: 1-800-345-2550 bring what inspires you tdd#: 1-800-345-2550 out there... in here. tdd#: 1-800-345-2550 out there, tdd#: 1-800-345-2550 there are stocks on the move. tdd#: 1-800-345-2550 in here, streetsmart edge has tdd#: 1-800-345-2550 chart pattern recognition tdd#: 1-800-345-2550 which shows you which ones are bullish or bearish. tdd#: 1-800-345-2550 now, earn 300 commission-free online trades. tdd#: 1-800-345-2550 ca

reuters is reporting it's hired citigroup as a brace for a possible takeover offers.bout 3395% in a decent spike in the midday, tyler. >>> power rundown time. morgan brennan is with us, so is jane wells, a bicoastal edition. a glitch at target stores sunday causing long lines, irate customers. is target just snakebit, or is there something worse going on here? >> well, i think this specific situation is not a security relation. it's reportedly due to a hardway glitch, but this is one more thing for target. we had 9 historic hacking. just last week the actual multiual shareholder meeting. this is one more thing that consumers and investors are looking at, questioning the company. >> jane it's one of muir favorite stores. >> is it still your favorite? to me they've become like the chicago cubs. it used to be they could do no wropg, now they can do no right. they had need to come up with a new buick ad campaign, hey, come back to target, it's not like target anymore, which i thought was an odd campaign. buy our car, you'll never know it's ours. >>> starbucks doing someth

we're also joined by citigroup's oil strategist, eric lee, and bob is in the pits up at the cme. joe, to you first. you watched these markets as closely as anybody. what's your take on what we're seeing and the spike and shock we've seen in the market? >> it's happening in a sector that we've all talked about liking all year. it becomes a very difficult investment or trade because you're going to have to buy a lot of these energy equity names at high prices in some cases, multi-year highs. but that actually will be the right trade. we just had an 0 peck meeting. the call on 0 peck is going to be a million barrels more a day. you've got troubles in nigeria, troubles with libya, now iran, iraq, the oil production is not touched yet but there's a challenge the second half of the year. the plays off of this, scott, you look north, you're getting the canadian energy producers, sun core, canadian natural resources, they're catching a bid today. look back at the u.s., eog which i own, pxd, a lot of the large integrated names, you want to own them as well. the ultimate decision for the s

the holdings that they have are the most controversial and widely followed, including names like citigrouping, sprint touching on the telecom sector, we're going to talk oil, materials, of course we'll talk housing, amazon, get them to respond to julian robertson. so much to discuss. >> you've forgotten the most important father of all. >> my own. i know, can i give a shoutout to my dad, who i think has seen every "closing bell" show, probably watched more hours of cnbc programming on the planet, yet still hasn't had his fill. happy father's day. >> i hope "closing bell" can reveal a mystery. why does apparently that i audience stand up. she hopes they will grab a chair. >> we encourage people to be on the treadmill and adopt an active lifestyle. >> that was a good comeback. >> but today sit in a chair, jot down some ideas. >> she's a smart cookie. she has an answer for everything. >> she probably already has had an old-fashioned. >> thank you, kelly. have a great show. a very special show. >>> we've seen a huge spike in the number of kids taking drugs to treat adhd. here's a new angle. th

now citigroup is out and, get this, here is the news of the th.hed their target to 53 from 109. >> look where it is. >> yeah. the target is still above where it is. that's why i hate this kind of call. but you see a target price cut by basically 50%, not quite, it is noteworthy, i think. >> it is. under the radar name of the day, interdigital, wireless research development company. the ticker is idcc. if you have not heard of him before. >> the company is upgrading itself today, earlier they entered a patent license deal with samsung ending all pending litigation between the two companies. also announcing they have updated the revenue outlook. up 18%, nearly 7 bucks a share. we'll end on happy news here. >>> from strategy talk to eet t check. herb greenberg with reality check. when you're in town from the west coast and mansion on the beach, we're going to milk you like an old cow. >> i always sort of appreciate it, depending how you look at that. we want to talk about -- >> michael coors. >> michael coors, something i've written about extensively

similar suits have previously been filed against the firms wells fargo, citigroup, and bank of america white house press secretary jay carney has resigned after more than three years of president obama's chief spokesperson. he spent over two decades as reporter before joining the white house. you will be replaced by his deputy. the civil rights activist yuri kochiyama has died at the age of 93. rights,pioned civil protested racial inequality, and fought for causes of social justice. her activism began after the bombing of pearl harbor, which in her family were held in a japanese american internment camp. she medially saw the parallels between the oppression of black people and the treatment of japanese americans. in the 1960's and 1970's, she and her husband bill were deeply involved in the civil rights movement and other liberation struggles. she was with malcolm x the day he was gunned down in harlem's audubon ballroom, cradling his head as he lay dying on the stage. to see our interviews with yuri kochiyama, you can go to democracynow.org. and those are some of the headlines. this i

you see companies like citigroup now, even wells fargo. fargo is saying we're empowering women entrepreneurs and support women-run businesses. melissa: that doesn't alienate men? hey i'm a male entrepreneur and i need help too. >> that women were not in the finance place. they didn't speak -- now we have earning power. we're bringing money into the household. yes we're still running it. melissa: yes, damn it. heather thompson, always a pleasure. >> always a pleasure to be here. melissa: a dessert alert emerging from the sky. we can't be sure this chocolate drone wants to be loved by child jeff bezos and willy wonka. at the end of the day it is always about money. snow ♪ ♪ [ cows moo ] [ sizzling ] more rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim from td ameritrade. [ girl ] my mom, she makes underwater fans that are powered by the moon. ♪

. >> that's the question, citigroup saying the oil markets are surprisingly complacent about this becauseada and u.s. oil is really ramping up and coming online. melissa: christine he guard is recommending that the u.s. raise the minimum wage. she spoke first to fox business on why she thinks it would be beneficial. >> in the short term, there might be some jobs lost, but when you look at the significant increase of income that poorly paid people will have, we believe that in the long run it will be net positive for the economy and for employment as well. melissa: hmm, what do you think? >> well, you can't treat, quote, some job losses as a rounding error. those are real people with those jobs who could see their jobs lost. listen, the imf has gotten it wrong. they got the greek bailout wrong -- melissa: that's true. >> so the question is would a minimum wage hike at the federal level help? see half the states raising -- melissa: jack, you agree with her, right? >> i do. we're not raising it from a fair level, we're playing catch-up after 40 years of people losing 30% of their person powe

let's bring in for a foxbusiness exclusive cheat -- citigroup doctor.he situation in iraq. there is debate right now whether or not the market is selling out based on issues or they are ignoring the situation in iraq. >> i don't think they are ignoring the situation. we seen flareups in different places in the middle east, syrian and libya before that's read i think the bigger concern is this is broadening out and is perceived by some as a failed state with a potential breakup and the markets focused on the energy market. cheryl: we are trading on light volume today in us bank said stocks would be down potentially sideways for the next few months and that may be the rally for the year at least was over. you are not subscribing to that. impact your pushed have pushed up your s&p target and you are looking at 2000 now. and you just did that. >> we just did that call over the weekend. not that big of an uptick, but what has really been an issue is that even in the difficult first quarter we had negative gdp. we think that we are probably going to see stren

check out shares of citigroup. the stock losing ground in the last couple of minutes after the u.s.ing more than $10 billion in a lawsuit. this follows on the heels of a similar settlement of a settlement with jpmorgan of about $13 billion. again, from the jp -- from the doj. there you see citi off just about 1% there at $47.82. back to you, andrew. >> thank you, mary. the numbers keep getting bigger. in the meantime, back to the big story of the morning, priceline agreeing to buy opentable for $2.6 billion in cash. our next guest is recognized as an icon of the internet tech boom that lit up the stock market from the mid to late 1990s. jeff mallett is former president and ceo of yahoo!. he joins us now for a cnbc exclusive and he's the co-owner of the san francisco giants who skrd sheriff best record in major league baseball. >> before we do that, what the heck? does $2.6 billion make sense to you? >> i'm not going touch the numbers, but i can tell you from experience, broadcast.com, back in the day -- >> but that was good for mark cuban and not good for anybody else. >> you've got