cooperman thinks, are you ready for this?of potential deals here and they're the first reit to own cass inos and these deals should be added to earnings since it was a real estate investment trust and it can borrow money than any casino wood. even though it's growing earnings, it's trading at 17% discount. i don't know. seems outrageous and also there are catalysts and first we're hearing chatter that it might buy isle of capri, something that can boost by 10%. second, it's in the process of acquiring the meadows racetrack and casino near pittsburgh. keeperman thinks we should get more details on this in the future and third caveat, and this is cooperman's investment ideas. he was not recommending it as a trade going into the quarter. if you like it do some homework over the weekend and if we get another market wide sell-off on monday, you might consider buying copi on a weakness. keep your battle in the shoulder and wait for a good entry point after the quarter. 45 bucks and 29% premium to where it's currently traded and if

you learn a lot like cooperman.y can be headed higher like most of the names he talked about the year before that and the year before that. air gas is up big since winning a prolonged fight against a hostile takeover. is there more gas in the tank or is it doomed to run on fumes? trash or treasure. i'm seeing if three brocken stocks can be bargains in disfwiez and plus your calls in the lightning round just ahead. stay with cramer. don't just visit rome. [ thud ] visit tripadvisor rome. with millions of reviews, tripadvisor makes any destination better. your studied day and night with millions of reviews, for her driver's test. secretly inside, you hoped she wouldn't pass. the thought of your baby girl driving around all by herself was... you just weren't ready. but she did pass. 'cause she's your baby girl. and now you're proud. a bundle of nerves proud. but proud. get a discount when you add a newly-licensed teen to your liberty mutual insurance policy. call to learn about our whole range of life event discounts.

cooperman. >> he's the man. >> who would you stick with?mckesson. i think netflix is dangerous i like mck pittsburgh kissson best. >> we have the best ideas tomorrow and all these headlines. >> we have two best idea panels. one is slated a macropanel, the other is the more traditional stock pick, we have jane mandillo hasn't.publicly after leading the harvard endow. and mary trilo with j.p. morgan. >> we look forward to that we have a mystery guest on delivering alpha we broadcast live on "fast money." also i got the exclusive sit down with john paulsen of paulsen and company, 2:15. tune into cnbc for that as well. the youngest conference call wrapping up. we get a final word from colin gillis right after this. . ♪ [ female announcer ] f provokes lust. ♪ it elicits pride... incites envy... ♪ ...and unleashes wrath. ♪ temptation comes in many heart-pounding forms. but only one letter. "f". the performance marque from lexus. >>> yahoo's marissa meyers is still taking consequence on the conference call. your take now, colin? >> so, melissa, in

it's a cooperman name. i haven't had much fondness for citi in ages as it's being held back by bad loans to a bloated staff, failed leadership, government investigations and lack of earnings momentum. what's not to hate? i'm not saying that all that changed this week, but they have put a lot of the turmoil behind it and the ceo has cleared the decks to make some real money again. not just that citi is cheap, i think the interest rates are headed high. that was reinforced by every guest at the conference. next name, robins' idea, national oilwell. because it's increasing on the oil drilling around the world and it spun off the service business. it makes it much easier to understand. like time warner. when they spin them off. what impressed me from his talk, national oilwells is emblematic of a trend, using a strong balance sheet and low interest rates to borrow money and help retire stock. he thinks management is motivated to do a gigantic buy back with earnings momentum, this mid 80s stock goes to 100. i be

. >>> leon cooperman loves one of the stocks that we brought to you on monday.remember on monday? do you remember monday? great day. we showed you three midsized oil and gas companies with heavy hedge fund ownership. qep resources one of those. at today's delivery alpha conference, the famed head fudge manager cooperman named qep as one of his top picks. his others, super value and citigroup, are names we talked about monday, just digging through the filings, a little old elbow grease. cooperman was not a major holder at the time in the first quarter, so what's that mean? >> he's been buying. >> thank you. nothing gets by you. >> all right, let's look at the broader markets right now, because we are still seeing gains for the s&p, the dow and the nasdaq. the dow is off of its all-time intraday high by what, 16 points, brian? >> 17 right now, you're right. >> 17 points, but as you can see, we are still seeing gains across the board. we'll be right back. in a world that's changing faster than ever, we believe outshining the competition tomorrow requires challengin

so you have to pay attention when leon cooperman is making picks. then it's -- larry robins on the back, too. >> his commentary about thermo fisher similar to what he said about citigroup. when you buy an asset out of favor a good chance of good things happening to that asset or to its price. a contrarian way of looking at the markets. one 69 quips he made was, look if all of your stocks are at the all-time high list, your momentum guy. all at the new low list, you're probably out of business, but something like a thermo fisher, citigroup, fits into the category of very unloved names that good things could happen to that not a lot of people are expecting. >> apple and ibm. how about this story? late in the day yesterday, big impact today. put their rivalry to rest and announcing a big partnership to develop enterprise solutions. putting big pressure on blackberry. and citi initiating coverage of am, a buy rating, $110 price target. what do you think of this deal? put in context as well druckenmiller on the stage was also making the case against ibm

we'll see if the market decides to agree and takes prices higher. >> lee cooperman loved energy over and over again and he's been with sandrich for a long time. i like that. to discussion on those two areas you'll do well even if you buy related stocks. >> he put citi on his buy list which is an interesting choice. >> bank of america, i was very pleased this morning when i saw the numbers, when the actual numbers were more like 40 cents versus 25 or 30 which was my break even for cents per share on the earnings. when it came in around 40 after you figure back in that fine, i thought it was a great report. it turned out not to be. >> single nice thing about the company all he said is when you buy something this out of favor -- >> that's thing. they are part of a cyclical downturn. a lot of people think it's a good time to get in. >> citi, he likes citi stocks. >> thank you, guys, josh and kate. sue, back to you. >> great conversation. much more to come. news alert on general motors. phil lebeau joins us with the details. >> we have data that shows all of these recall headlines over th

leon cooperman just delivered some of his best ideas.hat we go to dom chu. >> putting his ideas, see him talking about his particular investments. a number of different ideas. the list quickly for viewers to get you the headlines coming out of here. his top picks this time around are -- act activists, a company with tax eversions. mentions that. and citigroup, could trade a book value in the coming months and years. again, trading at, call it 15% discount to book value now. also gaming leisure properties. nordic american offshore and an interesting one. qep resource, super value and a couple international stocks. louis xiii and monoteese, made energy plays. qep one of them. independent oil and gas drillers based in denver, colorado. stock gaining steam throughout the course of the session. you can see so far, they're still speaking about it. we're asking about the picks. you can see up toward session high, up 2% on the day. >>> more details. larry robins of glenview coming up. >>> and cooperman's picks from last year, pretty good. >> and

coming up at 7:00 eastern time, we have lee cooperman. he's the only investor that has been a part of every delivering alpha event. there's a reason to that. he has a near perfect record. >>> at 7:30 eastern time, marathon asset management bruce richards is betting big on europe. >>> coming up at 8:00 eastern time, we'll get political with former obama chief of staff bill daley. he's now working for a swiss hedge fund. a lot of them will be talking to what we've been talking about this morning. first, let's get you up to speed on today's headlines. are you ready for this? >> i'm gary owens. i've got one of these things on. it's like you're madonna, only i need -- yes. that won't look at good on me. you already hear some of the buzz? >> i realize again why we have these on. >> there's a huge thing going on behind us. not yet because it's early. but today, tech is the dominant. that was the dominant theme of this morning's stocks to watch. let's start with apple and ibm. the two teaming up on a partnership starting this fall. ibm will sell

the insurance agency for highway safety said the new country cooperman did well in protecting drivers and passengers when the front end hit an object at 40 miles an hour. other cars' cabins collapsed during tests. you can see the full results at our website at abc7news.com. >>> the ceo for best buy says the tablet market is crashing. hubert jolie said a lot of people bought tablets early on but want to replace them with something a little lighter and faster. pcs are making a comeback partly because people want to replace their aging hardware. >>> they are reportedly in talks with ali baba. it's an e-commerce company in china. a student founded the company in 2011. >>> singer and actress jennifer hudson, part of a new campaign to fight cancer. >> a million things come together. >> when we search for cancer's secrets. >> the public service announcement is for the non-profit group stand up to cancer. the campaign showcases the important work of cancer rese researchers who are developing new treatments and therapies. >>> they're trying to figure out which animal takes the longest time to

leon cooperman this morning on "squawk becomes" what does the fed know on valuation?stion to whether secretary lew followed that comment and said he thought government should be commenting on policies and trend. just real quick, data we got this morning, industrial production up a tick lower than expectations with the lower manufacturing, and them, of course, we had ppi, a buy on the federal reserve, consumer price inflation up more than expected on the headlines, and the core up 0.2%. one question as to whether or not yellen wanted more uncertainty, she noted labor numbers have improved. the question whether or not she wants the market to maybe not be quite so certain about a june 2015 takeoff when it comes to interest rates. something to follow today. we have more to be pressed again on when that lift off may happen, what a the trajectory may be, steep or a shallow one, and the issue should the fe be involved, of course, in ultimately picking out different sectors of the market for over valuation. carl? >> i imagine, steve, do you expect her to be asked about that t

cooperman had the $11 billion hedge fund advisers. he says right now the stock market appears to be fairley valued. >> i want to say this, i see not a lot of large cap meaningful companies that are selling at euphoric prices, you know? so we've passed pessimism. we've passed skepticism. i think we're in the stage of optimism. i don't think we're in euphoria. >> cooperman gave a dozen stock recommendations, including citigroup and kkr. he breaks down investments into four categories. growth at a reasonable price, income and growth, asset restructure playes and high risk/high return stocks. joining us from boston is brian reynolds from rosenblatt securities. great to have you on the show. you point out the number of vix calls outstanding last week rose to their fourth highest level on record, a sign the bears were looking for a pullback or pick up in short-term volatility here. >> exact thely. the xunt is trying to throw a hail mary. once we got past june 30th, typically the window for redepositions, we saw the short covering stock and

coming up at 7:00 eastern time, we have lee cooperman.s the only investor that has been a part of every delivering alpha event.

larry robins is bullish, leon cooperman talked up resources and at least the second year in a row, andn hit on a number of names holing including petroleum and the pepping deal made him a neat profit of nearly $400 million this week and o asis petroleum. here's paulson talking about the flurry of a way to treat the oil and gas sector. >> these companies are too attractive. they are too attractive to sit there at the current valuation. they are independent. they are in the u.s. they are growing very rapidly. they have enormous reserves, and the cost of harvesting the reserves continues to decline every year, so it's not likely they'll remain -- they may remain as independents for a long period of time. >> of course; some of the names are not new winners for the panelists, one was from coopman who talked about a trip to north africa scoring on atlas energy, a name he still holds today. >> one of my fondest investment days, first two week vacation of my life several days ago, standing in the valley of the kings in egypt looking at that many thousands year old sta chut, by phone goes off 7

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went by the way that we saw two different great fund managers talk about larry robbins and leon coopermanay, and i want very much to buy that stock for the charitable trust and trying to free up the bad positions they have because man, there's stuff out there that keeps blowing up. you have to talk about the bad ones, too. it's called honesty. niemin. >> hi, jim, i'm from connecticut. >> hit me. >> my name is arena pharmaceuticals. >> people were angry with me that i didn't like it not that long ago, okay? i have to reiterate. it's know one of my favorites and i don't think that you've got some biotech company that's not been the right place to be, and i like, here, let's repeat it, regeneron, and i like biogen because of the ms franchise and you know what? do i need more -- okay. genetics and isis. let's go to warren in north carolina. >> hey, jim, i'm calling about a super strong company with great leadership and some game changing products. reesenly this company received an fda approval for their continuous glucose monitors to be prescribed and used by pediatrics or anyone under the ag

what are the big news makers like kraurl icahn and lee cooperman to focus on?s changed since last year? follow the #deliveringalpha starting 1:30 p.m. today, just after the halftime show. kate kellie, jon najarian will be tweeting up a storm, so get the questions in now. we did the winner of the debate, even though the machine broke. >>> plus if the red kin are looking for a new pr strategy, we may have a man for the job. there's only one problem -- well, they're going to have to bail him out first. the worst trade of the day is up next. ♪ during the cadillac summer's best event, lease this 2014 ats for around $299 a month and make this the summer of style. ♪ once there was a girl who even in her laundry room.ry. with downy unstoppables, she matched her one of a kind style with one of a kind scents. downy unstoppables in wash scent boosters wash in the wow. if yand you're talking toevere rheuyour rheumatologistike me, about a biologic... this is humira. this is humira helping to relieve my pain. this is humira helping me lay the groundwork. this is humira helpi

. >> people like lee cooperman have made the point on this program and others on this network, bull marketsd. they end with some sort -- some form of a shock or -- >> exogenous shock. >> recession or -- >> josh went to say, i'm wise beyond my ears. >> what you wanted to hear. >> germany is the issue. hap happening in russia could impact germany and the averager, a positive way and benefactor. if they get hurt you'd see at least the recovery there come back. >> haven't mentioned the article tina story. yet another flash point of worry for some investors in the market. kate kelly, right? >> right, scott. >> they were trying to figure out a solution to broke aerosolution with some banks that want to the perhaps buy that debt and get the country off the hook or possibly get involved more directly a as principle details still fluid, but i'll be tracking and discuss it more in just a few minutes on "power lunch." >> thank you so much. wie watching the dow sell off by 200 points. worst day for stocks since tax day. and we're also looking for the potential of the first down month for stocks in six.

i don't know that -- >> that's something that lee cooperman, the times he's been on the show, hammered home, too. that's not present. the market may be, you you know, fairly or fully valued. however you want to interpret it, but it doesn't mean that the bull market is coming to an end. >> that's correct. i think the thing to watch out for is recessions. obviously. >> great to get your insight, watching a sell-off we've seen over the last couple of days. >>> assess what ed's point of view it, and where we really think we're going to go here. >> yeah. if on the cusp of the correction that's been long talked about, or if this is just a rest, and the bulls going to have a red bull add our senior produce shannon suggested. >> i don't think any of us are talking about a bull market unfolding. potentially talking a national correction. it's our job to identify and tradeoff of potential correction nap could be occurring. back to earnings. if we get strong earnings we are expecting, you want to see the strong price action. if you get a good earnings and stocks don't go up, indicative to me of a

>> sandridge, i just listened to leon cooperman talk about sandridge the other day.spoke very positively about it. he's the guy who got me interested in the name. i do think that leon is taking a very long-term view on sandbridge, and i urge you to do the same. let's go to inger in oregon. inger. >> caller: hi, jim. how are you? >> fine, how are you? >> caller: i'm doing great, thank you. i have a question on mankind. >> okay, mankind's got that very new way to be able to -- you know, this is that diabetes -- their device that they need to find a partner for because they haven't found a partner, the stock has not gone higher. they need a partner for the stock to go higher. and that, ladies and gentlemen, is the conclusion of the "lightning round"! >> the "lightning round" is sponsored by td ameritrade. ♪ like, really big... then expanded? ♪ or their new product tanked? ♪ or not? what if they embrace new technology instead? ♪ imagine a company's future with the future of trading. company profile. a research tool on thinkorswim. from td ameritrade. a research tool on t

and i'll tip my hat to the profile of leon cooperman. an interest to anybody reading up on that.seymour, taking dan nathan's place at delivering alpha with melissa and the gang. tim, we'll start with you. a lot of earnings after hours as we wait here to hear from carl icahn. is anything jumping out at you this afternoon? >> i'd go back to ebay, because to me, this is best valuation. we're at a time when valuations across the s&p and the nasdaq most notably, are at levels people are uncomfortable about. this is a company that is not broken, a company that had transitory issues that weighed down the stock in the second quarter, highly flagged. it's a stock where there could actually be some activity around the corporate structure, et cetera. there could be things going on that are catalysts, but most notab notably, it's a name i like on valuation. >> well, that was a pretty quick second round, guys. we hope to do it again in the future. thanks again. carl icahn is ready to speak at the delivering alpha conference. let's listen in. >> it's great to have you back. >> great to be here

. >> and thinking to leon cooperman at alpha about qualcomm. a big pick, did great. passive on qualcomm. hasn't sold any but not necessarily buying more. >> with such huge run-ups in a lot of the stocks last year, a lot of people from alpha were winners across sectors. >> yes. >> qualcomm, interesting to see what the earnings show. >> all coming up after the bell. meantime, judge wapner has "the half." >> welcome to the "half time show." our game plan, friends or foe? as facebook gets set to report earnings in four hours, can zuckerberg deliver for your money? taking often with a flurry of airline earnings on the runway. which carrier should you place in first class or bump to coach? and the puma question. who knew what and when about the massive surge on tuesday? jon najarian uncovers the unusual activity there, and how about this business news? were we get to all that, an important programming alert. exclusive interview with president obama. our steve liesman sitting down with the president

>> cooperman and christie. >> lee was amazing. she didn't see chris christie. >> you missed one of my favorite moments of the day. multiple moments, really. >> but john was tough. john can be very tough. sometimes not quite as -- >> john harwood, right? >> i don't think he's quite as tough when the president copped a fly and he went oh, mied go, you're wonderful. >> he kept the equal lyilibrium. he said you were obnoxious enough to ask me again. but it was a very good matchup. anyway, one of my favorite moments of the day was ken griffin talking about how citadel came back from the brink. in 2008, they lost millions of dollars in a matter of weeks. and they managed, interestingly enough, not only to sole advantage the business in general, but to make back their high water mark and their hedge funds four years later. here is his recollection of what happened at that time. >> that was a very dark moment for us. as a firm, we had gone through almost 20 years of never experiencing a loss and as you're well aware, in 2008, we lost abou

leon cooperman of omega advisers. bruce richards of marathon asset management. keynote speaker of the event, treasury secretary jack lew. the conference kicks off right here on "squawk box." starting at 6:00 a.m. eastern time, only on cnbc. ♪ ♪ ♪ [ male announcer ] if you can't stand the heat, get off the test track. get the mercedes-benz you've been burning for at the summer event, going on now at your authorized mercedes-benz dealer. but hurry, offers end july 31st. share your summer moments in your mercedes-benz with us. offers end july 31st. thank ythank you for defendiyour sacrifice. and thank you for your bravery. thank you colonel. thank you daddy. military families are uniquely thankful for many things, the legacy of usaa auto insurance can be one of them. if you're a current or former military member or their family, get an auto insurance quote and see why 92% of our members plan to stay for life. >>> trading sharply higher, up to 1.07, up 32 cents. the company is reporting $1.6, excluding items that's up 12.2%. and versus expectations which were down a

if lee cooperman wanted to message eddie lampert, you go on the system and message a name and it goes. >> but, again, it seems to me like it would be better if it was an independent -- just because bloomberg was that independent thing before. they lost that independence with the scandal that came through. are you going to trust a competing bank to not be using or looking through any of that information? >> one point of defense about the terminals. in regard to the allegations. it wasn't that reporters were somehow having access to the chat rooms. that's been a concern, whether they could potentially. but that wasn't what that particular issue was about. so unclear. what they could see, by the way, was whether people have logged on the system. >> in the past, you told me about private chat rooms, you were talking about something totally different, andrew. and i don't know that -- you want to do that -- if you're into that, that's fine. what whatever your cup of tea is. but, you see, i've never been in a private chat room. >> because you taught me about that incognito thing, i don't kno