david faber will have more in the 2:00 p.m. eastern hour of "power lunch." stay tuned for that. >>> meantime "vanity fair's" sara ellison also knows the move on the dynasty inside and out. what do you make of this pick particular move? >> it's one we've all sort of been watching for some time. last spring rupert murdoch made the announcement that his sons were both going to take on bigger roles in the company. this is one of these things people have been looking for for a while but the question is how is this going to play out. you have two brothers who have a very long history. each of them have had -- they've worked within the company. they've been sort of elevated by their father before only two have failed in their respective positions. so in the sort term you still have rupert at the company but longer term you sort of have to wonder how these two are going to work their power structure out. >> what do you think the answer to that is sara? what's the word on the street? >> i think at this point james

i'm carl quintanilla here with jim cramer and david faber. a lot of green. that follow through is courtesy of some optimism regarding a greek deal. a

doing what david faber does that's breaking big stories.we appreciate it. thanks buddy. >>> coming up the latest on the search for the two killers who escaped from an upstate new york prison and the surprising stats on just how often prison breaks really happen. you will be surprised. >>> "power lunch" rolls on. can it make a dentist appointment when my teeth are ready? ♪ ♪ can it tell the doctor how long you have to wear this thing? ♪ ♪ can it tell the flight attendant to please not wake me this time? ♪ ♪ the answer is yes, it can. so, the question your customers are really asking is can your business deliver? ♪ ♪ ♪ at chase, we celebrate small businesses every day through programs like mission main street grants. last years' grant recipients are achieving amazing things. carving a name for myself and creating local jobs. creating more programs for these little bookworms. bringing a taste of louisiana to the world. at chase, we're proud to support our grant recipients and small businesses like yours. so you can take the next big step. >>>

david faber will make his way here in a moment. jim cramer is off today. >>> retail sales are solid on just about every metric. interestingly, the ten-year did not bust through 2.5. in fact the yields have settled back just a touch. our road map begins with markets continuing that rally as retain sales show a more confident consumer. does it change the calculus for a rate hike from the fed? >> lululemon stock sinks, but is it good news for the stock? >>> they did it. nike to become the official on-court uniform provider for the nash. >>> first, though as expected retail sales rose by 1.2. april and march sales figures were revised higher, and futures on the rise helped by the hopes that greece may be closer to reaching a deal with their creditors. it is about the retail sales today. 11 of 13 categories up march revised up. there's been some notes this morning that may q1 gdp is revised up. >> especially with the growth you saw in the core numbers. we knew autos were strong. we saw car sales last month, best in years. we knew gasoli

david faber watching for jack ma in chicago.ng the change for a big stock split. the stock itself is almost doubled so far this year. how do you play it now? more on that when "squawk on the street" returns. ar and i'm feeling really good about the price i paid because i used the truecar app. see, truecar knows what other people in my area paid for the same car, like him. (cheerful music) and like her. ♪ and like them. it uses this data to calculate the truecar curve which gives you the price range for the car you want. this is how car buying was always meant to be. this is truecar. ♪ >>> astounding moves for netflix. the shares hitting a new record high this morning. now trading up roughly or almost doubled since the start of the year. it's a 96% movemove. the latest moves you see there after yesterday's annual meeting where shareholders voted to approve an extra stock. that's a step toward a share split. joining us you, sun trust managing director pop peck. good morning to you. the stock doubling so far this year. >> it's been

. >>> change in the murdoch media report as first reported by cnbc's david faber. murdoc as chf executive officer of 21st century fox. he will hand the title to his son james. rupertd his older son lock lap will take on the role as co-executive chairman. controls 40% of the voting shares at fox through the must century fox were off a fraction. >>> a massive now, according to multiple reports some big oil companies have contributed $345 million toward a fund to compensate victims of that disaster. the creation of the fundom morgan brennan has more. >> it's been almost two years since 47 people died in northeastern canada. the result of a fiery derailment involving a train moving highly volatile crude oil from north avoid litigation have agreed to pay into the $345 million fund for victims of the accident. "the wall stre j reports royal dutch shell, marathon oil and conocophillips and others havde a usually blamed on the railroad car main an railway. the company sought bankruptcy protection. if the fund is approved by u. lawsuits claiming wrongful death and negligenc

ma going to sit down with david faber tomorrow for an exclusive interview. that begins at 2:00 p.m. it will be interesting to see what ma tells david. kevin great to see you again. and jon fortt we'll see new a few minutes. >>> let's take a look at the markets, we're seeing the dow and the s&p in positive territory. the nasdaq struggling to hold on to gains, down by .33%. the markets have been closely watching data. we saw wholesale inventories data come in stronger than expected. we saw the highest number of job openings since the data were collected. we'll keep an eye on that and a lot of people watching a three-year bond auction hitting at 1:00 p.m. eastern. shares of lululemon rallying, comparable same store sales rising 6% and the stock sup by better than 6%. >>> and shares of pandora slipping down more than 5% or they were at least earlier in the session. now down about 4.5%. coming after apple unveiled apple music. late yesterday and carl we'll hear more from pandora later this hour. >>> one of apple's top new competitors will break down the music service, the cfo of pandora w

i'm david faber. we're live from the new york stock exchange. carl and jim have the day off. talk to jack dor see and jack cost low later. let's look at the trading week. we are looking at a down open at this point. not a lot to tell you

but now a gain of just about 36 points, we going to begin with some breaking news, our own david faberhat rupert murdoch will step down as ceo of of 21st century fox. david is here to update the story for you. >> a change at fox, keeping it in the murdoch family, no doubt about that. as we first reported, rupert murdoch is preparing to step down as ceo of 21st century fox. he'll hand the title to his son james, that according to sources close to the family. the timing here of the change is still unclear to me. it could take place in the very near term. it will be announced in the near term. but it may not actually take place until let's call it 2016. either way, murdoch, that is the elder murdoch will continue to be the executive chairman of fox and his son, lachlan is going to take over as the executive co-chairman of the company. he's currently nonexecutive co-chairman. but that's an important distinction. ceo chase carey is going to step down from that role, he'll take an advisory role with the company. sources tell me. he is likely to remain at the company in some capacity, perhaps

so you can take the next big step. >>> our david faber breaking the news rupert murdoch is stepping downo of 21st century fox. >> david joins us on the set. big story. a lot of people are talking about it. maybe more for the timing of it than anything, is that fair to say? >> i think so. i don't think it was unexpected to people who follow this company closely that james would take over as ceo. if you've i been near the company and talked to rupert i think that could have been an expectation. chase carry's departure was something people talked about. a lot of this is connected, but not necessarily one indicative of the other. carry has been involved in talks which rupert wanted both sons to take over. rupert is not going anywhere. he remains chairman of this company. probably the final decision-maker. but that says carey will stay around as advisor and give up his ceo title. and the way it's been described with james, as a partnership. we'll see what this ends up meeting. titles at fox can be somewhat fluid. they will be running it. day-to-day you have james focusing on nuts and bolts an

i'm david faber with jim cramer live from the new york stock exchange. carl quintanilla has the day off. let's get a look at futures. as we get ready to open the morning 30 minutes from now. we are poised for a lower open. a lot coming back to that ten-year note yield. look at that. 2.341%. the german bund, almost 1%. for a ten-year paper out of germany. that is part of the market story. let's get to our road map. it starts with t-mobile and dish networks. i can't confirm they are in talks, but this pair has a long road ahead of them. it could lead to a dead end. twitter getting a downgrade even as anthony noto steps up his defense of the company's strategy. round-about retail. nordstrom, costco l brands all with very different reads on the consumer. there are talks going on between dish network and t-mobile. i should add its parent deutsche telekom which owns as much as 65% of t-mobile. they have been of on and off nature. nature. the ceo of dish is a difficult negotiator. seems committed, backs away. where are they right now? there is activity. underwo

zblup next, alibaba executive chairman jack ma speaking exclusively to cnbc's david faber biz about his company's stock price. but there was one comment he said that has some shareholders very concerned. we'll tell you what that was. plus one biotech stock is up a whopping 32% in the past year, and a key fda ruling out just moments ago could send shock waves through the sector. the name and how you can profit, straight ahead. and later, netflix nearing 700 bucks a share but we have a highly regarded analyst who says they're worth just a fraction of that price. we'll tell you why later on. all that when "fast money" returns. what if there were only one kind of dog? then it would be easy to know everything about that one breed. but in fact, there are over three hundred breeds of dogs. because no one can be an expert in every one... an app powered by ibm watson will help vets tap specialized knowledge in the cloud for every breed... and whatever else walks, flies or slithers through the door. ibm watson is working to make medicine smarter every day. >>> welcome back to "fast money." i'm ka

david faber has an interview this afternoon. it's at 2:00 p.m.on "power lunch." >>> and coming up next who would win if american pharoah raced secretariat? i've got my money on american pharoah since secretariat's dead. the side-by-side video results are next. plus is tesla ready to pull the plug on the battery swap process? elon musk saying it doesn't make much sense. we'll talk model x and autopilot as well. "squawk box" will be right back. the viewer to send us stories that have you buzzing. do we say squawking or buzzing? >> squawking, we like. >> it's time for us to share some of our responses. the ceo earlier of corn favor told us 67% of executives surveyed, they're postponing cancelling, vacation plans in the last year. they're working way too hard. they're flat out for their companies and share holders, and every dime of that ceo pay, i think, maybe in the back of their minds, i think we'd better come up with us. most of the twitter fans disagree but one woman says she's in the baahamas were three weeks. they tweet, don't worry. the resor

be sure that david faber will ask mr.out that tomorrow right here on "power lunch" in the 2:00 p.m. hour. don't miss that. he is an ambitious fellow and a smart one. >>> the west coast loves its jobs more, that according to a new study. which jobs and where exactly are the moves loved and hated? and when it comes to picking a place to retire it's more than just about warm weather, but there's some warm weather spots on the list. best and worst cities to retire in america. that comes up in two minutes. my feet felt so heavy at the end of the day. they used to get really tired. until i started gellin'. i got dr. scholl's massaging gel insoles. when they're in my shoes my feet and legs feel less tired. it's like walking on a wave dr. scholl's massaging gel insoles, i'm a believer! . >>> reports that billionaire elon musk has built his business empire on nearly $5 billion in government subsidies and musk's defense of those subsidies right here on "power lunch" are just the tip of the iceberg in a growing debate over how much

we're in trouble. >> david faber from another exclusive with the ceo of alibaba. it's always fascinating to watch this guy speak to you. what stood out for you? >> he's always reterrible fresh ing refreshing, as we know simon. in terms of whether it's his long-term view. you know many of the themes that he comes back to again, as was the case in that sound bite that we just shared of course, the long-term view at the company that he has, but i guess guess it is that he is sticking to exactly what he always said he would, which is having that long-term view. having an empowering younger people within the company, and really trying to make this effort here in the states not about today or tomorrow, but about the next ten years in terms of really trying to get small businesses to actually use to access of course this huge and growing middle class in china. we'll see whether he can succeed. >> david, your first question to him got to the heart of this saying why not buy in ebay which has 25 million small businesses listed on its platform. and i loved his response wher

david faber filed this report. >> as we first reported here in the u.s.morning rupert murdoch, the long time chairman and ceo and founder of fox is stepping down and handing the title over to his son james. an announcement coming soon. james will become ceo. the elder mr. murdoch will remain as executive chairman of the company and his other son will become executive co-chairman having a broader strategic role sources tell me at the company and working in what they call a partnership with his younger brother james who will have the day-to-day responsibilities of overseeing all that takes place at fox. the company's long time coo is stepping down from that position. he is expected to remain at the company in an advisory capacity of some sort and that appointment may continue through much of 2016. but it will remain some what unclear. all of these changes of course in many ways anticipated by fox investors. nonetheless marking a significant change in general generational management at this company. chase kerry having been coo. for fox the bigger challenges

david faber will have much more.the s&p >>> an atlanta fed might update their model to the up side because april construction spending zoomed up 2.2%. let's look at more real-time numbers, shall we? 52.8 we're expecting 52 our last read on revised at 51.25. 52.8 is pretty good but keep in mind in february we were at 52.9. the high watermark for year on the headline was january at 53.5. if we look at xwlomt with adp, and of course the employment report at the end of the week it moved over 50 to 51.7 and of course new orders are always important, moved up from 53.5 to 5.8, so this batch of 10:00 data was actually some of the better data we have seen in a while. >> and we're seeing a reaction. the dow is up 70 points takeoff? treasury yields. it is a big, busy week ahead and we have friday a jobs report. also another deadline for greece and its debt. this morning fed vice chair stanley fischer saying that the world economy is still growing very slowly. so a lot of news. what should investors expect as we head into a new

something my partner david faber from stock on the street realize. at a higher level, the restaurant we like so much is benefiting from gasoline. i expect a bifurcation the weaker player is starting to put up mediocre numbers. what else? i think it's worth ceos in a second conference call. just this week we learned long time ceo will be stepping down at the end of the month. to replace the current officer. lately boeing has been punished by that strong dollar. your subsidized airbus. so in reports in less than a month, let's see if nuremburg will be able to stay with the positive with that super freak dollar. well it concentrates the mind. there is cisco, a network tightened to the midst of a big transition of cyber security. yet the stock is only up 2% year-to-date. partly because long-time ceo chambers is leaving. still i think he left his successor chuck robbins with a terrific company. let's see if he is continuing to let the new ceo on "today" show took over from the ceo. while this will be his second conference call he needs to talk less about

i'm carl quintanilla with jim cramer and david faber at the new york stock exchange. futures volatile as the greek deadline's proeches. auto sales set to hit. oil steady just's bofb 60 and ten year just below 224. first up fiat chrysler posting its best sales for may at 4%. the results driven by demand for its jeep brand. ford and gm due out with their sales figures later this hour. chrysler came in 4%. the best may in ten years. there is a ton of news regarding cars today. >> fiat chrysler is doing so many things right. marcione distinguishes himself as the person who most gets it. i saw ford the other day. still can't produce their best truck, the f-150 at a level they want to. >> they've got frame supply issues. >> that's just killer. when we look at this year we'll see fiat pulled off maybe the steal of the century. they put together an amazing car company with tremendous momentum. taking share. fantastic turn. >> we'll hear from other automakers this morning. we are talking 17.3 million is the estimate for this year. that number is-0 i remember that number from y

last week david faber told you first about the executive changes coming to fox.rting that roger ails will also be reporting to the younger murdoch, something of a surprise. >> that is not necessarily -- >> i know. the parlor games continue. there's been some analysts saying it's range bound. >> the last quarter wasn't that good. there were some developments in india that are going to be terrific. i think it's an international story but one of the things that's different is that the other guys are doing so well. unbelievable numbers. we know bob auguster is doing amazing numbers. it's a crowded field, and i think when you look at fox, even if they're doing well they're not doing as well as some of the other guys. i think that's because the other guys are so good. rupert is good. >> disney giving universal some props on this jurassic world. pitch perfect three is now in development. vin diesel with some comments regarding the next furious films? . >> when you're hot, you're hot. you have to see it with 3 d. >> half of sales were in 3 d. >> the end is fabulous. >>>

i'm carl quintanilla here with jim cramer and david faber. a lot of green. that follow through is courtesy of some optimism regarding a greek deal. a lot more m&a activity. oil remains our road map begins with the markets and growing optimism of a deal for grease.ece. and futures on the rise. >> anthem launches a bear hug for anthem. they're all in play right now it would seem at least in terms of deals. >>. >> and we are getting back together. taylor swift admonishes apple for their streaming deal. or on that in a moment. >> we'll start out with the match making. anthem reiterating their want to buy cigna. cigna rejected the offer yesterday. they have been speaking for quite some time. the latest deal was $184 a share. it continues to be that 69% of it in cash. the remainder in shares of anthem as well. which could give cigna shareholders significant ownership in the company. social issues key to be the key impediment to any deals. the ceo wants to be the ceo of the combination. anthem says we offered him the number two position. many shareholders may agree

david faber reported this last week.e just getting confirmation now from 21st century fox that lachlan murdoch and rupert murdoch will share the co-executive title and james murdoch assumes ceo role. all these are effective july 1st. chase carey's role as executive vice chairman will continue through june 30th 2016. >> thank you very much. we've known this was happening. anything significant in this report to you? >> no. we follow the media space. we follow fox so i won't comment specifically. this is a story we talked about on air for several months now. the complaints against the nepotism all are unchanged. this is part of that larger story. >> not much of a reaction there 21st century fox down a little p under 1%. >>> morgan stanley out with a list of 30 stocks to watch the next three years. just because a stop is cheap doesn't mean it's worth buying. some have sky high p/e ratios. let's bring in steve pen wellwellwell. why aren't you scared off by these high valuations? >> we tried to isolate the it go risks in stock

i'm simon hobbs, sara eisen and david faber. carl is off today.s not moving hugely to that blowout jobs report. 280,000 in may and 32,000 upgraded for the previous two months. the dollar is substantially stronger. you see crude lower. >> let's get you the road map for the hour. "new york times" columnist jim stewart here with his take on greece. how game theory can be applied to this week's greek negotiations and what happens next. >> avolent health. the stock opening moments ago. >> massive data breach hitting the u.s. government. officials say china is responsible. aefl lent. >> great job growth. goldman sachs chief economist jan hatzius will join is live for an exclusive interview. >>> the job report unemployment ticking up 5.5%. steve liesman has all the details. it was a solid report all around. >> i see three economic themes. i'll walk you through where i see it in the data. first, the u.s. job market is prospering despite the hit to jobs from lower oil prices and strong dollar. second. the consumer looks to be bouncing back. the strong job

david faber is off today. markets under pressure this morning as the greek negotiations fail again over the weekend. a big weekend for central banks with a two-day meeting tomorrow. oil is back below $59. stocks are lower ahead of a busy week. cvc buys target's pharmacy business. and the debate of who should run twitter in the long term has begun. first up the collapse of the greek talks and tomorrow's kick off of the fed's meeting as we begin a new trading week. it's good to have you back jim. this meeting lasted 45 minutes. that was all it took for greece to walk away again. >> the narrative is changing to greek leaders saying there's not that much downside. the default people will appreciate that we stuck it to the germans. it's almost like they forgot what happened in the 80s when these latin american countries defaulted. it created a new standard of living and it required multiple years to become part of the neighs of trade. i think that the dynamic has changed and they're saying bring it on. and i think

>> the fact that david faber says they've been in talk and there's momentum there, mel, we noticed andet dan did, too, strong put selling in dish puts strong call buying in calls basically since the spectrum auction ending. basically people were betting or knowing something was going on in that time frame all the way until we broke the news about it yesterday. >> in at&t there's also been call buying there. when this dtv deal is done i think people will think about it favorably as an asset. they're doing the right things they've been first movers. a couple years ago they tried to buy t-mobile and that want able to happen. i think at&t sees the ground moving below its feet. i think walter makes a lot of good points. the industry is changing. it going to look massively different in a few years. as for sprint soft bank owns 80%, they got a lot of reasons to figure this out and i think it going to be a nontraditional partner. >> coming you, walmart is heating up literally, to keep its employees happy. what if there were only one kind of dog? then it would be easy to know everything about t

david faber will have much more in an exclusive interview with jack ma tomorrow on "power lunch" at 2>> time for a cnbc news update with sharon epperson. >> a federal appeals court upheld key parts of texas strict anti-abortion law which could leave as few as seven abortion clinics in the state. it challenged some of the toughest restrictions including all abortion clinics employ hospital-level operating standards. >> jeb bush arriving in berlin to kick off a european tour. he spoke at an economic conference hosted by germany's ruling christian democratic union. more than 340 million that was supposed to be rushed to drought-stricken california communities is sitting in government bank accounts. this more an year after law makers voted toite to upgrade outdated water systems. state officials concede the slow pace of spending which was meant to ensure the money was used wisely. >>> last week we told but a mississippi school superintendent who pressed charges for disturbing the peace against people for cheering at a high school graduation. it brought a lot of national attention. today h

i'm carl quintanilla along with david faber. sara eisen is at the global summit in new york. coming up. more from sara in just a moment but first we're watching things at the supreme court. one decision could legalize same sex marriage. we'll bring you the head lines as soon as we get them. s&p with a six-point gain. good numbers out of nike. not good numbers out of micron. the news is anything out of greece and china sellingover night. >> a big gain in consumer sentiment. remember, the bid june read came in at 94.6. the final read 96.1. how does that stack up? we all know? january we had the highest read back to 2004 at 98.1. if you pretend that didn't exist, this would be one of the strongest ones since 2007. solid read. expectations didn't change much. the one-year is 2 .7. five to ten-year is 2.6. the high >> thanks very much. three trading days left in the first half. stocks on the rise this morning following two straight sessions of losses but the watch is on as greek negotiations come down to critical meeting tomorrow. they have been given a monday deadline to break an

you must watch david faber's interview tomorrow morning at 10:00 a.m. twitter is a fascinating company. it is just one company. we have to think bigger than the departure of dick c. let's go back to why it matters. when you think about transports you are thinking of rails, truckers next and the airlines. after being a market leader maybe the best jenner for years peaked in march and it's been all downhill since. the decline has had a negative influence in the overall market. to one can deny the importance of shipping to the u.s. economy and the world. nothing is sold until it ships. you can argue that a decline in transports is a terrific leading indicator of what's been happen ing. less shipping means less commerce many. it's a reason why i have been worried the economy is weaker than people think. the inverse is true too. take the components one by one to explain how the subtle change could be a huge change down the road. first fed ex was added to citigroup's focus list, a meaningful move since they report next wednesday. fed ex goosted the dividend.

executive chairman talked about original content rumors in november with david faber.ere's what he said. >> does jack ma want to buy a studio? >> not necessarily. i want to learn from the inspiration, innovation in hollywood. in ten years we'll focus on two industries -- health and happiness. health industry which i told you about worrying about disease. happiness is that china is coming to the middle class. the u.s. and hollywood grows so fast when the u.s. grows tr from the big amount of middle class people coming. next 10, 15 years china will have a lot of middle class people jumping up. they need a good cultural product. i don't want to see china's young people have a deep pocket and shallow mind. >> can it be this simple? can they be the netflix of china? >> only in china. only when all the other people tried to go into local and everyone said it was the end of foursquare and it wasn't. china is the place where the natural incumbent beats people who try to come in. search, portals. it's ballsy that he named it tmal box office. he's not concerned with taking a name

that was something that david faber called it the war on coal.t makes him pull back from anything coal. that ladies and gentlemen is the conclusion of the lightning round. >> the lightning round is sponsored by t.d. ameritrade. like a custom screener on your desktop, that updates to all your devices. and you can share it with one click. wow. how do you find the time to do all this? easy. we combined every birthday and holiday into one celebration. (different holidays being shouted) back to work, guys! i love this times of year. for all the confidence you need. td ameritrade. you got this. >>> here on mad money we're trying to give you a sense of the global economy and sometimes that means talking to the leaders of major foreign company even if their stocks don't trade here in the u.s. we're checking with a company, the french company that's the leading global provider of all sorts of construction materials including glass, roofing, siding insulation innovation performance materials. 350th anniversary this year. 350th. this was found in 1665 to ma

. >> jack ma is going to join our own david faber this afternoon in a cnbc exclusive.inning at 2:00 p.m. eastern. you think he's trying to spin something here? is he being honest? >> he's just stirring the pot. whenever you make a comment and look off camera and smirk out of the side of your mouth, it means you're trying to entertain the crowd. i think the stock is not doing that badly relatively to where it ipoed, it's off the 120 to 115. peck has a note out saying it's going to go to 110 on the back of alli cloud. i don't know how tough life is really for jack ma. >> my thought is jack ma is a story-telling genius, i think what he's doing is setting himself as the martyr. he knows he's a target from chinese authorities, he knows he's a target for investors that expectations are so high. if he can recreate the right kind of story line saying i'm prometheus. bringing back-fire. >> i wouldn't say life is necessarily tough for alibaba post-ipo. but life is tough when the best quarter for your company is the first quarter after your ipo. that's when we saw the stock perfo

the david faber tomorrow afternoon. penned an op-ed in "the wall street journal."jack ma is in new york. and making news, we'll bring it to you as well. an exclusive with intel's ceo and what he's investing in now coming up after the break and lululemon shares higher on strong earnings. find out if now is the time to buy. >>> and netflix shares blowing all of the other s&p stocks out of the water so far this year. the stock sup more than 85%. there's a big decision on the table. that could have a major impact on how you think about this stock. there's a difference when you trade with fidelity. one you won't find anywhere else. one-second trade execution. guaranteed. did you see it? in one second, he made a trade, we looked for the best price, and the trade went through. do the other guys guarantee that? didn't think so. open an account and find more of the expertise you need to be a better investor. when a rewards card is designed to sync with your life, it gets talked about... ♪ ♪ so you can live the way you live, and enjoy all the rewards. chase sapphire preferre

. >>> and how about box, breaking news, exclusively by our own david faber, fox, rupert murdoch preparingstep down as ceo of 21' century fox and handing the reins to his sons. >> however gave me box and fox. i thank you, i'm a huge dr. seuss fan. both of these are names that i would sell. fox has no trend. good news doesn't move it up. bad news doesn't seem it 0 move it down. it's pretty cheap stock but it's been cheap for a while. not a buyer. >> coming up, the three $3 trillion trade that could be a nightmare for your portfolio. plus here's a look at the s&p sector heat map right now. off the best levels of the day. >> where's the heat map? there it is. the s&p sup by 4.33. we're back after this. when a rewards card is designed to sync with your life, it gets talked about... ♪ ♪ so you can live the way you live, and enjoy all the rewards. chase sapphire preferred. so you can. leave early go roam sleep in sleep out star gaze dream big wander more care less beat sunrise chase sunset do it all. on us. get your first month's payment plus five years wear and tear coverage. make the most of s

done miss david faber's exclusive interview with alibaba executive chairman jack ma.. tomorrow on "power lunch." in the meantime, alibaba attracting some bulls in the options market today. dan, what did you see? >> call volume was two times that of puts today. when you really think about what's going on today, the stock like you said has really underperformed chinese markets. and thoeftd most of these chinese listed adrs, these chinese internet stocks that have been parabolic of late and one of the things is trying find a new investor base. you had all these guys in late 2014 after the ipo and you've really seen a whole host of issues that caused some investors to move out of it. but today the most active option on the day was the july 90 calls. and that's also the biggest option -- the biggest change in open interest on the day. when the stock was around 87 it was a buy of 1200 of the july 90 calls, pegged about $1.65 for those. those break even up about 5% on direct expiration. let's look at the chart. pete mentioned it. 50-day moving average. the stock bounced on i

david faber will make his way here in a moment.ry metric. interestingly, the ten-year d

i'm david faber with jim cramer live from the new york stock exchange.off. let's get a look at futures. as we get ready to open the morning 30 minutes from now. we are poised for a lower open. a lot coming back to that ten-year note yield.

i'm simon hobbs along with sara eisen and david faber. let's look at the markets. positive session.from greece. we've managed to break four consecutive days of losses with the s&p where it is we're negative for q 2. >> greece turns out not the only debt crisis worrying investors. puerto rico heading toward an historic default. plus downgrading greece and puerto ricoen in the last half hours. we'll discuss which one could be a bigger threat to the global economy and apple music launching today. find out if you should be buying the stock. >> we have breaking news with rick santelli an consumer confidence. >> we have a june read and triple digits. 101.4. the reason 101.4 is interesting, first of all, it's only the third triple digit we've had going all the way back to the summer of 2007. what's more, it's exactly the same number that we had in march measure 101.4. and the high water mark was january at 101.8 which goes back to the summer of '07. it's a solid read as it has been all along as the s&p had traded unchanged on the year. >> consumers are confident. thank you very much, rick.

merge these companies that you have to imagine they're going to merge and they're talking and if david faberight now, i think he'd be talking about that these bankers are trying to get a deal done. >> you want to explain what's happening, this new class of stock at under armour? there's a lot of confusion about what it means, how does it change voting rights? the stock's not moving on it. >> no. is it comcast? is it google? remember when it said go read the note. i read the note. i think kevin is going to have to come on. maybe he's waiting to come on with receivenstephen curry. this class slide fies this position. they keep saying it's the same as the split. if it is then why didn't you split. it's not and i'd like to know more and i don't think that as much as i'm a big fan of under armour and the stock, i've been championing that for a long time. i think kevin needs to come on explain. that would make me feel more comfortable. i don't want to see that it's just an entrenchment. >> we'll see same six tonight. they're talking ratings could be 20 million people tonight. >> the games are brea

david faber caught up with the founder and chairman and asked about alibaba's ambition goal plans planscan focus on helping small business. this time because we have 350 buyers in china. we think about bringing european small business to china because it will be easier. if you don't have the buy side it's difficult to help the supply side. when we have such a huge demand in china. especially last year our gme is $390 billion. for that it could support millions of businesses. >> the middle class is doing nothing but growing in that country. 300 million now. perhaps half a billion. but why not just keep it in china? why not continue to dominate with the growing middle class buying from those supplying in the same country. >> no this is our mission. helping doing business easier. we choose the name alibaba because it's a global company. it's founded in china but it's created for the world and i think our goal is the next ten years i hope that 40% of our gnv is from outside china. not because we need money from outside the world but because our mission is helping small business. doing busin

i'm david faber. we're live from the new york stock exchange. carl and jim have the day off. it is news everyone is talking about. changes at twitter. we will talk to jack dor see and jack cost low later. let's look at the trading week. we are looking at a down open at this point. not a lot to tell you on the macro front. merkel got things moving a bit. let's take a look at the ten-year note yield. we're right around 2.4 but off the highs that we saw, almost 237b9 2.5. >> we hit it yesterday. >> crude oil at the bottom. let's get to the road map. a change at the top of twitter. ceo stepping down. jack dorsey will be the interim ceo and they'll join us for an interview. >> and the imf walking out on debt walks and angela merkel with new comments. >> what you need to know to trade. >> first the ceo of twitter is stepping down effective july 1st. he's going to be replaced by the co-founder of the company on an interim basis. it comes from amid pressure from some investors who have been unsatisfied with the growth rate. here's what was said last night during a conference call. >>

i'm carl quintanilla with sara eisen, and david faber and simon hobs.very single european bors is higher. powell on the table. oil is the only lagger today still remaining below $60 a barrel. >> the landscape of streaming music changing rapidly. how do companies keep up? well the ceo of i heart media joins us. >> plus online buying and selling sites are disrupting the world of auto sales and traditional dealers have a lot to say about it. >> and at&t trading higher after an upgrade. we'll talk to the analyst who made the call later. >> let's get to breaking news on house sales. >> a june number, we'll hold off and see if it shows up. let's look at the may new home sales number. 546,000. that's seasonally, annualized adjusted. that was last month moves from 517 to 534. better than expected. that comps out pretty well. 538 february was one of the highest reads we had. that takes us back a bit. now we're looking at a comp on this going probably 546 to february of '08. richmond fed now showing up at six. six versus one, if you go back to december of last ye

i'm carl quintanilla along with sara eisen, david faber and post 9 of the new york stock exchange.e a dealous of out of greece. we should hear any minute now if there will be rulings on obamacare subsidies or same-sex marriage. if it doesn't happen today, could happen tomorrow or even monday. in the meantime the economic data here at the states pretty good. personal spending coming in at the highest level in about six years. take a look at the markets. dow hanging on with a 29-point gain. s&p is up about two. >> citi's chief economist, willem beiter will talk to us about the situation. >> the ceo of nielsen weighing in on how they are handling the changing landscape of television and streaming. >> what mcdonald's ceo had to say about getting customers back in the stores. >> we start with the market. a pretty volatile one as the greece saga continues. as they try to stave off default. should investors be able to share the worse. the man coined with the term gregsit. are we actually going to see a gregsit. do you have to factor in that scenario? >> the immediate threat should not be

. >> thank you, david faber for that exclusive with jack ma.higher on the session, up by 1.3%, as is the entire markets. take a check on markets. we are still holding on to pretty solid gains. dow up by about 270 points. >>> plus we are headed back out to california for brian's exclusive interview with janus fund manager bill gross. >>> we are keeping an eye on oil. much more "power lunch." back in two. t printing. but did you know we also support hospitals using electronic health records for more than 30 million patients? or that our software helps over 20 million smartphone users remotely configure e-mail every month? or how about processing nearly $5 billion in electronic toll payments a year? in fact, today's xerox is working in surprising ways to help companies simplify the way work gets done and life gets lived. with xerox, you're ready for real business. >>> welcome back to "power lunch." i'm jackie deangeles reporting from the nymex. crude closed on the day at 6 $.38. this is after bullish data from the eia on inventories but production

both were on cnbc talking to david faber about one another. >> what's irving going to do with all that spectrum? is. >> biggest question of all. he has a great portfolio. you got to like watching him in the auctions though. right? he's sort of like was the patriots. right? he didn't make the rules. you made the rules. he just played them extremely well. he's got a great portfolio. he's got to do something with it. >> there is a love affair going on between you and john legere. you happy toseem to be happy to say nice things about him. >> i think we like what he's doing. he's built a brand not only of t-mobile, he's -- they're taking on the big guys. they're attacking the big points to the consumer. contract. rollover data. international roaming. that's striking a chord. that's a pretty impress riff turnaround. >> i don't know david. not since sean penn married madonna do you have such divergent personalities. is this marriage doomed right from are the start. what do you think? >> i don't think it is doomed at all to be extent that they are both very large personalities but they do resp

both men appeared on "squawk on the street" this morning with david faber.n to what they had to say on the transition. >> the end of last year i started talking to the board about transitioning. i wanted to make sure we were doing it when the team that was in place was strong was working well together they were forthright with each other. state of the team that is healthy, maybe healthier than i've ever seen it. as jack mentioned, the cadence of the product execution's. better than i've ever seen it. and with new services like fabric doing so well and per periscope, it was the right time. >> we've always had an open conversation with dick and the leadership and the board about the next steps of the company and we do that just in service of making sure that we're putting the company first. we did not want to interrupt the momentum. if anything we want to amplify it because we're extremely excited about the products and new initiatives to come. >> one of the most fascinating things to me is that i found that you would learn more as a ceo and as a leader throug

he spoke with our david faber just last october.ssion during that show's tenure and said i love coming to work every day i love the content of what i do and who i do it with. and kate, to your point he just said time and again when asked when his favorite thing to do outside of work is i love being with my family got a great wife, three great kids i love being with them, and that's what he enjoys the most. andrew, what are you hearing today? >> personally it's shattering. i've known jimmy for a long, long time. i was just off the phone with jamie dimon and steve schwartzman. it's one of those -- he was a presence, a bigger than life presence. it just needs to be noted that i used to think of him as the last investment banker on wall street. he represented almost a different time. he was somebody who had relationships with not only other bankers but ceos in a way that frankly i would argue even today's bankers don't. it's just at a different level. when rupert murdoch needed to do something he called jimmy lee. when jack welch needed

david faber is off today.e greek negotiations fail again over the weekend. a big weekend for central banks with a two-day meeting tomorrow. oil is back below $59. stocks are lower ahead of a busy week. cvc buys

i'm carl quintanilla here with jim cramer and david faber. a lot of green.