it's pretty good for us. >> what do you make of dan loeb's stand? long time. dan say really goodin vestor and really smart. one of the reasons he's really smart because he knows how stupid he is. he knows his pit falls and he knows what he can and can't do. and he appreciates that. he takes a very soft approach. sony kind of opened the door for him. there's massive restructuring of a lot of japanese companies. whether sony some of the real estate companies over there. i mean we -- so many companies restructure and increase the value. besides that if you look at earnings estimates, you know at 105, goldman sachs and others goldman is probably at the high end. so you're taking very low multiples. you really can't have -- even though that market has moved a lot, you still can have a lot in there. >> we're going to take a break. i want to talk about the great horseman of 1894 i think it was. horse manure would have been nine feet high around the planet if we didn't invent cars. >> the problem went away. >> things change. >> and we innovate. >> they can c

dan loeb is trying to shake things up in japan. will he succeed at sony and how you should trade it? >>> and real returns, reits have been a hot trade for investors looking for yield. we're talking to the ceo of a major retail landlord whose stock is up more than 70% in the past year. >>> brian kelly, tim seymour, guy adami and mike khou. the s&p 500 another all-time high leading the way higher. the nasdaq at a 12-year high. so the question is today, how are you trading it? tim? >> no inflation is very good news. and if you look at what happens with the dollar quietly back at july levels. this means commodity prices are getting pushed down. we are making trades in places where low inflation is a boom on the macro. i've talked a lot about turkey. india which had 41-month lows is a great place to be playing. low inflation and strong consumption story. hdb, ibm, ttm, ways to play but again, people love to talk about china in a world where people are worried about china, india actually benefits. >> yeah last week tim hit on it. we talk

that. >> sony says its entertainment business is not for sale in response to hedge fund investor dan loebsony executives over the weekend and is pushing for a spin-off to unlock more value. the share price could rise as much as a 60% by separating the division, which includes its movie studios and music labels. andrew laid out those plans earlier. >> the plan has proposed by dan loeb would be to break up the company in three parts. it would include a break up of perhaps the most famous part of sony, the hollywood entertainment piece that both encompasses the music unit as well as the film unit. separately, he is proposing that they spin off what is known as sony financial, which is an insurance unit that would leave sony core, if you will, as the last remaining piece of sony and that piece would encompass the electronics business. that includes things like its tv business as well as its playstation gaming unit. >> that was andrew earlier. sijuro, this is a company that initially just returned back to profit. how much sense is there that this plan now? >> well, personally speaking, if i we

the company says it will review a spinoff proposal from dan loeb's third point.liament president tells cnbc more must be done. >>> now, as we all know, teenagers are a fickle bunch. they change their mood and opinion on things as quickly as they change their clothes. a new survey finds teens have now changed their mind on the world's biggest social network. oh, dear. seema mody's joining us from cnbc hq in the states. hi, what's going on? what are they up to, those pesky kids? >> all right, ross. well, kids love twitter these days, but facebook not so much. a new survey by pew research centers shows teens expressing waning enthusiasm for facebook. the biggest reason? there are too many adults on the site, including mom and dad. teens are also tired of all the drama on the site, such as stress in managing their profiles, and they're annoyed when their facebook friends share all their teenage angst as well as inane details like what they had for dinner. contrast that with an increase of twitter use over the past two years, the pew study says 25% of all online teens

dan loeb versus sony. is it a shrewd move or flawout silly? >> plus is tessly the next apple or next ford. and thinks the stuff is going to $200. e announcer ] there's one thing dave's always wanted to do when he retires -- keep working, but for himself. so as his financial advisor, i took a look at everything he has. the 401(k). insurance policies. even money he's invested elsewhere. we're building a retirement plan to help him launch a second career. dave's flight school. go dave. when people talk, great things can happen. so start a conversation with an advisor who's fully invested in you. wells fargo advisors. together we'll go far. vietnam in 1972. [ all ] fort benning, georgia in 1999. [ male announcer ] usaa auto insurance is often handed down from generation to generation. because it offers a superior level of protection and because usaa's commitment to serve military members, veterans, and their families is without equal. begin your legacy, get an auto insurance quote. usaa. we know what it means to serve. >>> well, we are looking at

so this is the new statesman, dan loeb and much more constructive.t doesn't mean that there won't be potential fire behind it and it's only an $18 billion market cap company so you can't move things around there. the guys have not had that long to try to get things moving. it will be interesting to watch. >> you have the wind at your back. look at toyota and that's even with not great news about their cars. >> look, japan, the policy's working and we had dan on "mad money" and said look, japan's on fire, japan's on fire. when was the last time you heard japan office fire. >> the nikkei is 43% and the dollar in yen terms is not far off from that. >> remember, it's 1988-89 and you would come in and say what are you guys doing today? so you probably want to buy 100,000 shares? how do you know that? i took up tokyo railway, and listen, you're going buy, tonight you're buying 50,000 and it would be something like mitsubishi. it didn't matter what they were pushing and it would go up. >> they have a consensus stifle stock ownership. >> the boj have not sai

i'll say, dan loeb has tried to portray these talks as friendly as well.you read through the letter and go through the different specifics, it's clear that the effort here is to effecti effectively, long-term, to break up the company, and put different pieces, whether it's the entertainment unit or the insurance company and separate them. but right now sony is doing its best, and doing it quite successfully. if you go online and look at the japanese press, it looks nothing like the western press, laike te "financial times," "the wall street journal," cnbc and others who have been covering what this market said. it will be interesting to see how the market in tokyo reacts when the market opens up. >> he's only been at the helm of this company for about a area. he said he was refocusing on gaming and mobile. does he not have more time here? and why is loeb striking at this point in the company's trajectory? >> you know, this is a play on japan. this is a play on the yen. but they're now saying the final, you know, the final leg of the three-legged stool is s

investors warning that the company is exploring investor activi activist dan loeb's proposal.how likely is it that that happens? up next, kazuo hirai joining us exclusively when the "closing bell" comes right back. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile, tdd#: 1-800-345-2550 i can focus on trading anyplace, anytime. tdd#: 1-800-345-2550 until i choose to focus on something else. tdd#: 1-800-345-2550 all this with no trade minimums. tdd#: 1-800-345-2550 and only $8.95 a trade. tdd#: 1-800-345-2550 open an account with a $50,000 deposit, tdd#: 1-800-345-2550 and get 6 months commission-free trades. tdd#: 1-800-345-2550 call 1-866-294-5412. [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪ [ agent smith ] ge

i like the fact that you've got investors such as dan loeb behind the trade.ou know as it continues to work in his favor, he'll be pushing that even more. >> super strong conviction behind it, as well. >> absolutely. >> the yen trade that a lot of smart investors have been on that and long the nikkei. >> i would argue it's a catalyst in 2013. >> only problem is everybody's talking about it right now. maybe you get a pullback, we took profits. >> relative to where the yen was in 2007 to where it is right now, it's only retraced 45% of the move. >>> up next on the half, shares of apple have fallen roughly 44% since last september, but the stocks rebounding over the last month. have shares found a bottom? we'll check the charts when "halftime" comes back. woman: everyone in the nicu -- all the nurses wanted to watch him when he was there 118 days. everything that you thought was important to you changes in light of having a child that needs you every moment. i wouldn't trade him for the world. who matters most to you says the most about you. at massmutual we're o

it's up 20+% in the last two weeks, so, while dan loeb has a really good idea, and it looks like sony might be open to it, i think this is a stock that is priced to perfection. it bounced off its highs. i think it sits in a range here until it does something else, and it's really just hard for me, psychologically, to buy a stock like this that is so expensive with so many good things already priced in. - what about morgan stanley? this stock got an upgrade after the close last night. - sure. this is a stock that really should benefit, if you think that the recovery is for real. increased business activity, increased housing activity, all good things that should benefit them. so even though this is a stock that has really taken off over the last year - it's much higher, i think it's not so expensive when you look at it on a valuation basis, and it's also one of those stocks that, if this recovery is for real, is really going to benefit. - i also find it fascinating that the stock sold off after news of that upgrade came down. usually a stock would rally. why do you think that would hap

this morning, sony's ceo now saying his company, they're going to be assessing that proposal from dan loeb, the hedge fund manager that's called for sony to spin off some of its businesses. and the nikkei reporting that they're considering spinning off that entertainment arm. meantime, sony is cutting its sales target for digital cameras, smartphones and tablets by 13% to 17%, but it says there are encouraging signs of a revival in the electronics business. take a look at shares of sony. they are rising about 6% in the asian session today on word that the company is considering mr. loeb's proposal. back here in the u.s., a few key earnings reports today before the bell. we're going to be hearing from retailer target. then this afternoon we're going to be getting hewlett-packard. toll brothers released its quarterly earnings earlier this morning and the homebuilder reported a better-than-expected 46% rise in profit. among the reasons, it closed more sales at higher prices. and numbers from home improvement chain lowe's just hitting the wires. take a look. earnings of 49 cents a share ex-ite

but others still like the iphonemaker, david einhorn raised his stake and dan loeb made a new holdinge is a look at some of those stocks. i can tell you that i think it was british iron was up around 2% earlier on in frankfurt. >>> meanwhile, an unwinding position of gold etf has joust paced demand for the pressure metal. overall demand for gold was down 13% in the first quarter of 2013 compared to a year ago. so we've been asking viewers is gold oversold? let us know. get in touch, e-mail worldwide@cnbc.com. tweet @cnbcwex or direct to me. still to come, we've been talking about downtown abby. "the great gatsby" opened at the film festival last night. can revenue from placement become a major source of the area? ♪ bonjour ♪ je t'adore ♪ c'est aujourd'hui ♪ ♪ et toujours ♪ me amour ♪ how about me? [ male announcer ] here's to a life less routine. ♪ and it's un, deux, trois, quatre ♪ ♪ give me some more of that [ male announcer ] the more connected, athletic, seductive lexus rx. ♪ je t'adore, je t'adore, je t'adore ♪ ♪ ♪ s'il vous plait [ male announcer ] this is the pursuit of perfect

. >> i'm sure the resolve of people like dan loeb, short yen, at least the last time we spoke. is going to shake the resolve of big investors like that. >> the stock has come down almost 10% since the high when he announced. i'd buy a little here and then i'd buy it if it goes down. if not, at least i've got my feet wet. >> next up, you tweet it, you trade it. we'll head to the twitter verse to give you the winning play. julia is going to join us to give the scoop over a battle brewing between two social media giants. julia? >> there's a hot acquisition target expected to draw a roughly $1 billion price tag. we'll tell you why it's drawing so much interest after the break. bny mellon turns insights like these into powerful investment strategies. for a university endowment. it funds a marine biologist... who studies the peruvian anchovy. invested in the world. bny mellon. ♪ [ male announcer ] how do you engineer a true automotive breakthrough? ♪ you give it bold styling, unsurpassed luxury and nearly 1,000 improvements. the redesigned 2013 glk. see your authorized mercedes-benz

shares of sony have jumped 12% after billion hedge fund investor dan loeb called for a spinoff of theinment business. concerns also that some traders may have had early warning of the news. there was a surge in auction bets just before loeb's announcement. richard windsor is with radio free mobile and joins us now. >> hi. >> richard, how much of a stir has this caused? >> i think it's caused quite a lot of a stir, because obviously this is a question people have been asking for many, many years. sony has been a conglomeration of assets, some good and some not so good, and argue, you could make a strong case for great shareholder value being realized by spinning off the not-so-valuable assets. >> yeah. i mean, is it going to have an impact in terms of -- do you think this is going to attract more investors in to sony over the course of the next year and we'll see something happening at the agm in a year's time? >> well, to be honest with you, i think the kind of investor it's going to attract are more the vulture-type investors, not the proper investors. so the interesting thing, when

dan loeb has disclosed he owns some 6% of sony, wants to see a spin-off of the arm.k up close to 9% right now. >>> josh, thank you. >>> up next, street talk, plus we talk to the ceo behind the newest reit on the street. >>> and finally who is paying the price for all those redibly lulls cheap prices for carnival cruises. ♪ [ agent smith ] i've found software that intrigues me. it appears it's an agent of good. ♪ [ agent smith ] ge software connects patients to nurses to the right machines while dramatically reducing waiting time. [ telephone ringing ] now a waiting room is just a room. [ static warbles ] [ telephone ringing ] now a waiting room anbe a name and not a number?tor scottrade. ron: i'm never alone with scottrade. i can always call or stop by my local office. they're nearby and ready to help. so when i have questions, i can talk to someone who knows exactly how i trade. because i don't trade like everybody. i trade like me. that's why i'm with scottrade. announcer: scottrade- proud to be ranked "best overall client experience." >>> and it is street talk tim

dan loeb is trying to shake things up in japan.ns, reits have been a hot trade for investors looking for yield.

sony's ceo says its company's board is going to review dan loeb's proposal. in an interview on closing bell, he defended the electronics unit. >> given the proper focus, given the proper strategic prioritization of where we need to be in the business and really focus on executing these priorities that we can in fact turn the tv business around or the electronics business around. a great example is the tv business where, as we had committed two years ago, we halved our losses the last fiscal year and we're on our way ahead of plan in turning that business around. so, again, it's a matter of focus and it's a matter of execution. >> yesterday, david faber first reported that sony hired morgan stanley and citigroup to help out out options in this case for its entertainment business. morgan stanley and citi groou. that's one of those stories. >> how many people? >> there's a lot of people out there. i wonder who sony is hiring, right? >> to those of us who cover the world of wall street, knowing the advisers -- when you wake up in the morning and you see stories,

we're talking about dan loeb today, of third point. david einhorn is short the yen. even mark cuban says that he converted every penny of personal debt in the mavericks debt into a yen loan back in december and he's enjoying the trade. at this point how much of this weakness is driven by these shorts? >> they're definitely playing a role and an increasing role, but i'm kind of in the same boat with them. look, prime minister abe has put his reputation, his political career on the line. he has said that he's going to bank of japan in two years' time and doubling the monetary base of japan is his way to get there. if he fails, he's done. so the bank of japan and the prime minister of japan, they're in it to win it, and they are going to try to keep this yen weakness going. so there are steps that have to happen, and the market will get technically crowded, short-term we'll get little pullbacks. i think the longer-term trend here for the yen is intact. i mean, short term we'll look at 105, 105.30 as a technical level, but i don't think we're done by a long shot. especia

the smoke has cleared on the big news yesterday on sony involving dan loeb with a 6.3% position in theit's the largest shareholder now and a big move up in the stock price. it's interesting. the early headlines, of course, weren't completely rid. he's not calling for a break-up of this company, what he is calling, of course, is creating value through a spin-off of a portion of sony entertainment. its large entertainment asset focused in the u.s. i thought it might be worthwhile to take a look at a few different things and consider it in the overall context of an activist effort because loeb known for all of those nasty letters from years ago has not done that many activist campaigns in the last five years or gone to proxy fightsal all. yahoo! , i think there was one other in the last five years and this one may never get to that point, either. in fact, if you were thinking that he might get action at the annual meeting that's not going happen because loeb approached sony too late to make proposals. he had to know that. of course, he knew that. this was not an in-your-face approach. by

. >> i will not mention dan loeb's name again. >> it had nothing to do with "too big to fail" which is a buick wrote. >> we have a little bit of washington news to talk about. >> this is killing you. >> these scandals are not killing me. look, i love a great story. i think it's horrible for the country, but i think it's -- >> no, that's what i love about -- you get the feeding frenzy and even the median, even on the guy they love. if there is blood in the water, they're going to go after him. >> even charlie rangel is turning on the president. > >>>. >> news beyond the irs hearing, the house voted for reveal of president obama's health care reform law dwred and was called symbolic act. the measure is not expected to go anywhere in the democrat run senate. >> let's take a vote on that again. >> all right. we might as well. you happen, i really don't mind that they do it. why are you laughing? they felt that way 36 times. are you happy that the woman that was in charge of the nonprofits is in charge of obama care irs? >> i know that. drudge bannered that. >> did you see her, too? she loo

of all, that is the case although neither will confirm and they were hired by being contacted by dan loebtanley, and they're receiving a new board, remember? chairman howard strengther at the june 20th meeting and the 13-member board. these are the advisers to the board. they will step in and give them advice on this idea of doing a subsidiary ipo of entertainment. what from i hear at this point, not much of a hoorah yesterday on our air gave voice to it saying exactly what you would expect. we would give it serious consideration, but we will see. they are not at this point from what i am looking at the ipo, a smart, strategic move, and we'll see what mr. loeb can do between now and then, that's not the battle that's taking place. >> you're just wrong, and -- i don't know that youio want to do that with one of your single largest shareholders. it's better to keep the lines of communication open and for his part, i think mr. loeb kept it quite cordial. it's not as though it went right to i'm punching you in the face kind of stuff. >> so we'll see. it can be constructive dialogue, but again

cnbc has reached out to both banks and also dan loeb for comment.that's going to be a big interview. >>> still ahead on this program -- google is taking over a home right here in new york city. in fact, just further up manhattan in soho. what will a google home look like? >>> plus, those high-flying dividend plays in the never-ending hunt for yields. could the party be over for dividend stocks or is now another buying student? stay with us on cnbc. ince aflacs expenses while he can't work, he can focus on his recovery. he doesn't have to worry so much about his mortgage, groceries, or even gas bills. kick! kick... feel it! feel it! feel it! nice work! ♪ you got it! you got it! yes! aflac's gonna help take care of his expenses. and us...we're gonna get him back in fighting shape. ♪ [ male announcer ] see what's happening behind the scenes at ducktherapy.com. chalky... not chalky. temporary... 24 hour. lots of tablets... one pill. you decide. prevent acid with prevacid 24hr. [ wind howling ] [ engine revving ] ♪ [ electricity crackling ] [ engine revv

dan loeb. there you go. >> don't get her mad at you? she's the best, smartest, beautiful.d to an all digital format. and relaunched this earlier this month as newsweek.com. we spoke to iac chairman barry diller earlier this month to ask him about what went wrong for miss plans for "newsweek." >> i did not realize what an elective for advertisers a one off book published every week was. and essentially you did not have -- no one had to advertise in "newsweek." not like "vogue" you've got to be there. no one had to be to "newsweek," we were begging for advertising and begging is not a sustainable model. and as soon as i realized it about a year late or about a year -- no, ten months later, we acted. >> i was going to say barry diller making an emphatic, you know, sales pitch there for his magazine and how great quality that it is. let's get back to our guest host this morning, larry fink is the chairman, of course, and the ceo of blackrock. and the last time you were here, you made an argument for equities. you made an argument against bonds. >> are you still in the same pla