star board controls about 2.6% of darden. 1.6% ins currently up early trading. investors are waiting for shares to begin trading under jd. ,his is good for alibaba which could be the largest offering ever. joining me is leslie picker. we have had a rocky start to the second quarter. what is the appetite for new issues? a as you mentioned, we saw flurry of new issues coming in and the fourth quarter and first quarter. all the supply hit the market. in the second quarter, things started to slow down. that is a really straight story. -- great story. i cannot devote the time and energy to buy your shares. as time has gone on, things look to be improving.

pop for darden up 2%. >> angry at the red lobster sale. in this name, i don't think you get hurt if you're long. but i don't think you are going to make a lot. you may want to do with options up a bit. >> pop for 3d systems up 8%. >> i love the product. they made those little bags for you. the stock was up saying it is atrackively priced here. i think not. it's lower. >> a drop for abercrombie and fitch's club vibe decore. it is used for years to attract young shoppers. new window displays will bring back the teens they lost to fashion retailers. >> so microsoft took over that vibe. >> right. >> that's a great song by the way. it's eddy murphy's "party all the time". >> i halt that song. that's the worst song in the planet. now back to hp. estimates, a slew of job cuts coming. the call about halfway through. the latest with david faber. >> the call in fact, the prepared remarks completed no too long ago. they started to take q & a. in terms of the quarter, you had an analyst on at the top talking about it. a mixed bag to be sure. margins a

again the drive time up over 40 minutes now from dublin down to milpitas. in the southbound direction chris darden to see these big problems piling up of with the disabled and rain that could have problems with the load and then either shifted oslo lost three mayor earlier able to get through there unless europe heading out to a nimitz. there's an accident skidding off the salmon to the abridged read this is east bound. but it's having a bigger impact. because it's an injury accident turner and a lot of attention for so is backing and a commute of a way to the nimitz freeway. . of highway 92 and december silver is very cans out of clay to the bay bridge. as his band of one of the approaches and into the macarthur maze this is a material bridge ride. the golden gate bridge street is riding along care. as it heads of thought. trying to convince the district that it raises unnecessary will keep our teachers and san francisco carried a will kick off as a dairy high- school civics center. and for pam. and the bargaining table the united educators oppose a 20% raise to be phased in over three years teac

star board controls about 2.6% of darden. 1.6% ins currently up early trading.shares to begin trading under jd. ,his is good for alibaba which could be the largest offering ever. joining me is leslie picker. we have had a rocky start to the second quarter. what is the appetite for new issues? a as you mentioned, we saw flurry of new issues coming in and the fourth quarter and first quarter. all the supply hit the market. in the second quarter, things started to slow down. that is a really straight story. -- great story. i cannot devote the time and energy to buy your shares. as time has gone on, things look to be improving. we sell price is above the range yesterday. it was the third biggest offering in it of itself in this year so far. that is a good sign for the markets. it shows the demand for these chinese e-commerce companies. >> specifically. it also brings attention to alibaba. they have not given us a timeline for when they plan to list. >> right. the calendar for these types of ipos -- with all the first filing come out a couple of weeks ago. 6, month l

up next, starboard launching a fight to take over the board of darden restaurants.starboard jeff smith will be joining us live to talk about that move when "squawk on the street" returns. huh, 15 minutes could save you 15% or more on car insurance. everybody knows that. well, did you know that game show hosts should only host game shows? samantha, do you take kevin as your lawfully wedded husband... or would you rather have a new caaaaaar!!!! say hello to the season's hottest convertible... ohhh....and say goodbye to samantha. [ male announcer ] geico. 15 minutes could save you 15% or more. female announcer: female announcer: when you see this truck, it means another neighbor is going to sleep better tonight because they went to sleep train's ticket to tempur-pedic event. choose from a huge selection of tempur-pedic models, including the new tempur-choice with head-to-toe customization. plus, get 36 months interest-free financing, two free pillows, and free same-day delivery. are you next? announcer: but don't wait. sleep train's ticket to tempur-pedic is ending soo

darden. a billion of that will go towards retiring debt and $600 million toward increase in stock buyback up million. darden will maintain it 2.20 cent annual dividend. starboard the activist fund which owns more than 5% of darden shares succeeded in having shareholders call for a special meeting or get consent to call for a special meeting to stop what it felt was an unwise and rapid -- too rapidly deployed plan to spin off red lobster. darden saying they contacted as many as 70 potential strategic and financial buyers for this unit, ran a real estate process to facilitate a sale leaseback financing. that is a part of this deal. golden gate will have a $1.5 billion sale leaseback of the more than 500 red lobster restaurants it will take possession of with american realty, tripling at least reit, so they're going to take in 1.5, give out 2.1 billion, what's it cost them? about $600 million to take over what is a -- not a strong performer at this point in terms of red lobster. for darden it's saying we can now focus on our olive garden franchise to a certain or lesser extent, capital grill, lo

. >> i think darden was facing thature to show up with balance sheet. their focus right now is really trying to turn around the olive garden brand which, i mean, it is the flagship brand. it really has to rely on olive garden to help finance some of the newer brands. >> those all fair points, of course. sale to golden gate would not have been possible after a shareholder vote? they need to shore up capital, sure, but presumably there is interim financing available. if golden gate was interested today presumably it would be interested two weeks from now. >> that is also a valid point. ard was what star bo after with a more comprehensive break above darden. the larger brand of specialty restaurant brands. but our concern but that proposal is restaurant food brands -- if they had gone their own separate ways they would have to arrange their own financing in their growth would have been compromised. >> i want to ask a broader question -- this is a segment that has -- is troubled broadly as well. of fastthe upper end food. we've seen rapid growth of chipotle

darden stock fell 4% friday closing at $48. cloud computing company rackspace is floating higher on buyout talks. shares shot up 17%, the highest in six years. the san antonio-based i-t company hired morgan stanley to explore linking with other tech companies to compete with amazon and google. the result could be a partnership or acquisition from a larger competitor. cheseapeake energy plans to spin off its oilfield services unit. the new york times reports-- it would give chesapeake a $1 billion break on its in debt. the new oilfield services company would be called seventy seven energy. the spin- off should be complete by the end june. the plan was greeted with about a 4% sell-off. world wrestling entertainment shares were slammed on its new contract with nbc universal. the stock was down 43% at friday's close. the deal keeps hit shows "raw" and "smackdown" on nbc and raises the price from $90 million to $150 million annually. but analysts expected a better deal, saying new tv deals around the globe are worth $200 million. after a miserable winter and cool spring.. americans are breaking out this memorial day

up the entire comp any. they think it could be run a lot better. >> they think management is trying to protect its jobs. >> think you for giving us the latest. we know that darden is going to get bigger. we have gone to every headline this point. except the biggest ones. our own executive producer is graduating from nyu's school of business. >> congratulations, ben. >> we will have to dig into that and more when we come back. >> we will take about for a boozy lunch. >> ebay is trying to recover from a cyber attack. we will see with the data breach will do to the company's stock price. >> and how can you make the stalemate on capitol hill payoff for your portfolio? this is "market makers." we are also streaming on your phone, tablet, and on the internet. and you can see us on amazon i are and apple tv. ♪ >> ebay is the newest member of a hack attack club. they have been the target of hackers and the users personal information may have been stolen. there seem to be a growing number of these attacks. few investors really care. we took a look at some of the historical hacks to see how shares have performed in the wake of these attacks. we should point out that ther

darden this morning google search is an eruption may be censored. near as high as court ruled that google would have to purge unflattering affirmation that pops up abouto if those people as to bury most carried a website taking at the request reformation to be remotely up over and is already isow dicious it n be rsh's mores, the mistableaste at rindss that fe idelicious. >>george: welcome back to the kron4 morning news and 54 d has a live look from the macarthur maze and interstate 580 traffic was about to just pass highway 24. this is in between the 24 and 80 split. for the 580 ride. it's quite likely that in the next 20 minutes a week of the traffic at a standstill caught but a big birthday celebration as its lax discovery and walking up and vallejo today. liz the rockies to an elephant turns 50 today. a mass of cake 50 watermelons or sugar cane and other produce. liz's birthday is 0 klay is our pictures on a great is stopping by and east bay at a the end elementary school his 70 elementary school in richmond part of an ongoing partnership to promote his finance while rewarding students with a's themed prices. gray is going to have all workbooks to

darden restaurants is selling its read lots their brands to golden gate capital for $2.1 billion. it will do a new share about $700program of million, trying to shore up balance sheet, and sell off some under-performing assets. now, it is 26 minutes past the hour. bloomberg tv is on the markets. a littletures are just bit lower. we are awaiting more economic data this morning, including housing starts and you lean permits, -- building permits, always key indicators of where the property market is going. we are on the markets again in 30 minutes. as we await the housing data, i want to bring back our guest host, jay samit, who is now turning his attention to real estate as chairman of the property crowd founding company reality mogul. i bumped into you at milken. he said i started this new company. you are a serial entrepreneur. what is this company about? >> commercial real estate is an $11 trillion asset class that has no liquidity, and the average investors never had access to the deals that the big boys in wall street do, so why not crowd people who want to buy a building? we have 20,000 investors that have signed up, all accredited. >> on which si

up your alley? more cavia? >> there are other people on board. >> we're still on. >> i don't know. >> you really shouldn't be showing people. >> activists launch on darden's door. something i enjoy. we'll talk about that. and this year's other big activist deals with m&a. and a closer look at what options the fed has left in its arsenal if it hosni. steve liesman has the inside story on that. check out the squawk pox market indicator. indicator. are we still on for tomorrow? tomorrow. quick look at the weather. nice day, beautiful tomorrow. tomorrow is full of promise. we can come back tomorrrow. and we promise to keep it that way. driven to preserve the environment, csx moves a ton of freight nearly 450 miles on one gallon of fuel. what a day. can't wait til tomorrow. whon a certified pre-ownedan unlimitedmercedes-benz?nty what does it mean to drive as far as you want... for up to three years and be covered? it means your odometer... is there to record the memories. during the mercedes-benz certified pre-owned sales event now through june 2nd, you'll get complimentary pre-paid maintenance and may qualify for a two-month payment credit. only at your authorized