while we won't miss mark frissora, we applaud hertz for taking action.ieve that a new ceo can clean up the issues, get the spin-off done, raise prices and make hertz' shares rally, the way they should all along. stay with cramer. in new york state, we're changing the way we do business, with startup ny. we've created tax free zones throughout the state. and startup ny companies will be investing hundreds of millions of dollars in jobs and infrastructure. thanks to startup ny, businesses can operate tax free for 10 years. no property tax. no business tax. and no sales tax. which means more growth for your business, and more jobs. it's not just business as usual. see how new york can help your business grow, at startup.ny.gov >>> probably the biggest theme we have been pushing is natural and organic. campbell's which isn't natural and organic, didn't go down when it reported a bad quarter. general mills after the close buys annie's whitewave is soaring after the close, so is hain. what i'm telling you is even if they might pull back because there's too muc

a nice gain for hertz. it has been gaining this week. don't forget he has.7% stake in hertz.tz has been struggling because of recalls in cars --.7%. that is the dot downside of hertz bring it back. melissa: thanks, nicole. fox business's charlie gasparino is back with us. i wonder if you still working here today if you were watching show yesterday. >> because i had my beard? melissa: that's why. with joe and james roy medically and james you have legs. i never seen you in person. only seen you in the box like that. what do you think of this carl icahn story. >> oh, fudge. melissa: this is reference to yesterday. >> you didn't get it. melissa: very apologetic from yesterday. >> i was initially. now i'm not anymore. melissa: what do you think about carl icahn? >> carl uses the f-bomb a lot. just to get that out of the way. melissa: james what do you think of carl icahn? >> here is largest shareholder here. hertz has been struggling this year for a couple reasons. recalls of all the cars is one reason and accounting issues. stock is gaining a bit on day market is broadly lower.

look at hertz. now here you have activists in the stock but the board has -- is not under threat of a proxy fight. >> not at all. >> decided to toss the ceo. microsoft gave value active board seat less than 1%. you know, it's interesting to watch. on walgreen, the question is what happens now? i mean, they did not pursue the inversion. there's real questions there, there are some people who think there's more to come in terms of shareholders fighting with this company. >> craig wasson? a billion dollar miss in estimates, extraordinary, some of the prescription business went-off line. the undertold story, larry merlot on our show, cvs is killing him. why aren't they killing him? they didn't have the big generic price cut problem that walgreens has. i've got to tell you, david, i think the combination is beautiful, my charitable trust has been buying the stock. i didn't expect this. i thought an amazing win for the activists. >> a big win. love letter to rosenstein in the journal, toop and $11 billion

call your attention once again to shares of hertz which are rising now after hours on news that hertzdded three board members in an agreement with carl icahn. i just spoke with mr. eye can who told me the following, "hertz acted responsibly by adding three individuals who in the past have been active in identifying top ceos in companies like chesapeake, navistar, cit, motorola and forest labs, among others, which has greatly enhanced shareholder value in those companies." mr. eye can going on to say "i'm hoping companies will bring on more board members who have proving willingness to take on active roles when necessary." a couple thing here, carl has an 8.5% position, all common stock now in hertz and importantly, he will not now wage a proxy fight at the shareholder meeting as a result of this agreement. secondly, hertz has also, as you may know by now, increased the threshold for tradering the poison pill to 20%, that from 10% and now, a search continues for a new ceo of this company. remember, mark fess sore rah, who was ceo, stepped down recently, citing personal reasons. there i

hertz' ceo has stepped down amid pressure from an activist investor. the car rental company ceo cited personal reasons for his departure. the move follows an announcement in august that hertz would review its earnings and correct financial statements from the last three years because of accounting errors. since then, activist investors have taken stakes in the company including carl icahn. hertz shares rose slightly on the news to $28.50. >>> a big bargain bonanza at amazon. it slashed the price of its fire phone. it was about $200. now it's 99 cents. you heard me right, 99 currents and comes with a free year of amazon prime. the price cut comes the day before the anticipated launch of apple's new phone. but there are some strings attached on that amazon deal. you have to sign a two-year contract. shares fell more than 1%. >>> the activist investor jana pa partners has scored two seats on on walgreens. it has decided not to cut its tax rate by relocating overseas. shares down. >>> campbell's soup shares were soggy today. they remain sluggish in the com

icahn told cnbc he acted the move saying hertz acted responsibly.z shared today up about 8.5 pefrs. >>> new documents show the u.s. government one threatened thousands of data today. morgan brennan has more on that story. >> thanks. the government appeared ready and willing to impose types of $250,000 a day against yahoo! back in 2008 if it didn't comply with the demand to hand over data. a request the tech giant believes was unconstitutional. on thursday, a federal judge ordered more than 1500 pages of documents unsealed from yoo-hoo's schalg to the expansion of laws in 2007. the company lost its case and a subsequent appeal before the foreign streetive intelligence core. yahoo!'s lot loss required the country to be one to first start tryinging anytime to a system that give pfizer, deck. now, eventually, most other big companies, including google, facebook, apple and aol comply with the government's demands. nsa documents show microsoft had already joined the program. before the yahoo! ruling, aversion of the ruling had been released in 2009. but w

. >> hertz and darden moving on pressure from activists. darden shares higher in the premarket after reporting earnings. >> the iphone 6 available for preorder if you can get on the website where couples were turned down after apple.com went down early this morning. >>> activist investors are making news today. hertz reaching an agreement with carl icahn allowing him to choose three directors. darden under pressure for starboard value which had 300 slides with details of ways to improve olive garden. reporting first quarter results today that did beat. >> i think the overall story of the power of activists and the fact it continues to increase in our marketplace is probably the key take away in many ways. also stories today about third point run by dan lobes ability to raise $2.5 billion in a very short amount of time. mostly from their continuing investor base. activists on both fronts of the business, in terms of influence with corporate america and the ability, most important perhaps for them to raise money from their investors because t

tech ipo ever. >> shares of hertz jumping in the premarket. the company says

. >>> and hertz reaching a deal with carl icahn, he agreed not to launch at the car rental company. they will search for a new ceo. the company announced the chief stepped down on monday. shares went up initially after hours during the regular trading day the stock up slightly at 27.75. >>> and an auto recall, you should know about toyota, they will recall 140,000 tundra pickups because of the installation with air bags. that could prevent the air bag from deploying properly. thankfully, no crash or injuries have been reported in connection with the default. >>> and food prices are heading lower. the united nations global food index shows that worldwide, food prices hit a four-year low last month with the largest price declines in dairy and grains. >>> prices on some major grains may be heading lower right here at home and that is just because today the government reported a bumper crop of corn, soy beans and wheat. with so much products coming out of u.s. farms products all drifted lower in trading today. so world-record setting crop yields translate into lower prices at the grocer

. >> you had me with horns, mel, hertz.'m headed over to host the invest in others dinner. the wall street community gets a bum wrap. tonight, we're going to celebrate a lot of folks that do great things in their community. come over if you're in town. >> no? >> chip or sip? >> it's a drinking game tonight, right? whenever you curse when you're emcee. >> i don't curse. i don't -- eight years. >> not what i heard. i'm melissa lee, see you back here tomorrow at 5:00 for more . >>> my mission is simple, to make you money. i'm here to level the playing field for all investors. there is always a bull market somewhere and i promise to help you find it. "mad money" starts now! hey, i'm cramer him welcome to "mad money" him welcome to cramerica. other people want to make friends, i want to make you some money. my job is not just to entertain you and teach you. call me or tweet me @jim cramer. in four decades of investing, rare

push from investors to bring in scott thompson, the ceo of dollar acquiredwhen frissora it through hertznot a lot of love lost between the 2. thompson is considered very able and he is currently unemployed, so it seems like it would be a decent fit. >> he is looking for a job. the ceo looking for a job. tech giant apple is expected to tomorrownew phones with one of the models giving into demand for larger screens. we will have that in a few moments. ♪ >> tech giant apple is expected to unveil 2 new phones with one of the models giving in to demand for larger screens. it is not just screen size that apple hopes will woo customers. functionality will be loaded on this device. olivia sterns and julie hyman join me with what is expected from the different aspects. you are looking at the idea of mobile payments and how apple is looking to dominate the area. >> this is something that smart money has done before. they have all tried before but there are reasons to think that apple will be able to develop the critical mass to make mobile payments caps on. ,or starters, they have itunes they have

hertz reaching an agreement with carl icahn. the company will appoint three new directors to the board. agreed to nothn seek board representation. yahoo! sang the u.s. government threatened to fine the company $250,000 a day if it refused to comply with user data requests. that is a look at some of the headlines. >> our nation's security is on the minds of many today as we mark the 13th anniversary of the september 11 attacks. waslemn memorial service held in lower manhattan to remember the nearly 3000 people who were killed in new york, also at the pentagon in washington and near shanksville, pennsylvania. joining me is ray kelly. he is the former police commissioner of the city of new york. thank you for being here. when you're talking about terrorism and so on, you discovered there was much more to your background than just being the police commissioner of the city of new york. former marine, former head of the un's international police force in haiti, the deputy secretary of treasury enforcement. >> we are much safer but the

hertz ceo has stepped down citing personal reasons. under pressure from activist investors who want to out due to operational and account missteps. brian mcdonald is serving as ceo in the interim. we are looking at shares of ford and general motors. morgan stanley said it is cautious on u.s. automakers. morgan stanley said it prefers companies with exposure to autonomous vehicles and advance proposal and -- advance repulsion -- advanced propulsion. more on theto have markets in 30 minutes. demo we have some more breaking news for you. the baltimore ravens of the nfl said it terminated ray writes contract. never saw him till monday video that appears to striking his then fiancee in february. the video released by tmc them and thenws elevator in an atlantic city casino. it each hit the other before rice knocked palmer off her feet into a railing. trish reagan joins me now. exit prize? >> this needed to happen. this video is incredibly disturbing. its firstturbing in incarnation but then we saw the rest of it today. a man attacking a woma

but bad customer service gets under my skin, like the kind i received from her hearstz -- hertz not do, i called the office that i had been to, they did not answer, then i called 800 number, they told me that office was not open, not true i just left there. i was not a happy camper but then that is reality of customer service today, just very, very tough to find. that is my two cents more, coming up tomorrow, are you users guide continues can advice on buying -- check it out tomorrow night. thank you for joining us, have a great night, charles payne is coming up next. charles: on "making money," america has the president's back in the war against isis, but almost 70% have little confidence he will success. big issue. fading 4 pillars of american exception headlineism. >> and learning to invest from kenny g . now makes half of his income from stock market. we review his experiences and teaching you dos and doan's of building a portfolio. >> and the ipo everyone is waiting for, they released new pricing after the bill, and a little known ipo up 200% since company. wait until you see this

hertz is moving higher as striking the deal with icon. i. >> i think it's a good deal. i think stock is going trade well above 30. the action i think they are seeking i think happens. >> and ulta salon. they got a lot of people short. it's in focus because it makes these outside moves. they are not always on the upside but today it is. >> and pete, great couple of days for lulu. >> love this company. and the fact they have been able to turn things around. they rised the guidance for next year for nearly $2 a share. huge shorts? here. but the balance sheets are the phenomenal. trades a 22 pe. not overprized and i think it's going car. >> alibaba coming up, feeling the love from wall street's biggest investors. should you swim with the whales? and up next. more than one way to skim an apple. trading the big movers on the apple's new product line. and ceo chairman terri duffy is here with us. but what if you could see more of what you wanted to know? with fidelity's new active trader pro investing platform, the information that's important to you is all in one place, so fi

. >> when you see nike pull out or the big hertz -- when you see that pull out he's out. as long as this league is printing money he has a job -- >> you're right, morality is secondary. >> we will be watching. dana jakeson and william whoden, thank you for your time tonight. >>> coming up, president obama's battle plans for isis gets a key boost and surprising support from republicans and we'll hear from martin luther king iii about gop efforts to roll back his father's legacy on voting rights including in his home state of georgia. also, we'll tell you why president obama and clinton were together at the white house and show you one girl's hilarious reaction to the president's surprise visit to her school. >> di tell you somebody special was coming. >> i really wanted it to be beyonce. >> i understand. malia and sasha would feel the same way. >> did the first lady say next? that's ahead. >>> can president obama destroy isis while avoiding another long-term war in the middle east? today he got a big show of support from a general that many republicans had hoped would run

of being on the assembly line telling ford where the put the nuts and bolts, they're renting from hertzht is a little bit different, it defers more to the commercial entity and the hope is, the real hope, is that this opens up a whole new commercial enterprise in low-earth orbit and other businesses can take root there including you and i going up to visit a hotel maybe one day. >> that would be so awesome. i'd be first in line -- if i could afford it that is. miles o'brien -- >> you'd be second behind me. >> thank you so much for being with me, miles. i'll be right back. g to do it? who's going to make it happen? discover a new energy source. turn ocean waves into power. design cars that capture their emissions. build bridges that fix themselves. get more clean water to everyone. who's going to take the leap? who's going to write the code? who's going to do it? engineers. that's who. that's what i want to do. be an engineer. join the scientists and engineers of exxonmobil in inspiring america's future engineers. energy lives here. what does an apron have to do with car insurance? every

. >> hertz spiking on news the ceo is stepping down for personal reasons. >> and you know this is something jim cramer last week on "mad money" was talking about how he made the wall of shame, the ceo. he doesn't have to worry about it now he's stepping down. it's been about the pressures they're getting from activist investors. we have a seen this time and time again. this time it's actually working and obviously carl icahn very, very sharp when he was able to buy this stock on a down shot and now they're working towards the upside. >> morgan stanley downgrading ford, underweight from overweight. chairman bill ford had a different sentiment this morning on cnbc. let's listen. >> therein lies an opportunity how i see it. we have a lot of new launches coming. a lot of great products. we think they'll do very well in the marketplace. so, you know, i actually feel very good about our future. >> josh? >> i can't believe it. bill ford is positive on ford? that's crazy. >> you know. >> i actually agree with limb -- i would -- >> see how that happens. >> i would fade this analyst call. i understan

. >> hertz. i think the selloff is overdone. it gets back to the low 30s quickly. >> i agree with that survey. my final trade today is merck. >> i go back to jim o'neil talking about the u.s. dollar continuing to rise. >> we are watching alibaba. we are coming off a big weekend where apple blew away the numbers. s&p on track for the worst date since august 5. nasdaq seeing the worst of it today. worst day since july 31. "power lunch" picks up that story right now. >>> "halftime" right now. "power lunch" and second half of the trading day start now. >> thanks very much. the nasdaq getting pommelled as scott just mentioned. here is the day down 57 points a percent and a quarter. the russell 2000 even worse slide down more than 1.5%. a little less than right now. we are all over this sliding picture for stocks. well, sliding is not the word for the iphone. rising is the word there. the number is a big one, more than

. -- hertzing a bill reaching a deal with carl icahn.id he has a zack of confidence in hert management. alcoa siding its biggest deal ever with boeing. they will be supplying parts for boeing's 787. that deal valued at more than $1 billion. host, jamesest galbraith from the university of texas at austin. we had a financial crisis. it has given us a test tube experiment of economics. successs been little and much failure in our religion of austerity. here to punch holes in it, james galbraith. we have learned a lot about this word austerity. is it in the text books? >> it is at this point, yes. what is the test of the austerity strategy? the fact that the european economy is flat and the american economy is doing a little bit better. >> do advocate that even at this point we need stimulus to make for a less inequality? >> the point of my book is that we ought to be aware that we face a much more difficult situation going forward than we have in the past. while there is a demand component to this question, simply adding demand is not going

i think hertz has got some hurdles to overcome.ood company and certainly will do well i think longer term. they actually meet all of their criteria at this point larger in the capital. >> give us the back story on alaska air. and are they a takeover target? >> you know, alaska is a great company. the secret is how they treat their customers. they've won zen years in a row for great. customer service. their pensions are fully funded. they're virtually debt free. they're spending money in the right areas in terms of cap backs and replacing older planes with more fuel efficient planes. they do have head winds with competition coming into seattle against delta. but we think that they've done well operationally for the last three years. they'll continue to do well in the future. >> to the takeover target idea, could delta come in and scoop them up? >> well, that may be. we never buy something because it's a takeover target. but it certainly looks attractive, you know, when you start getting all of these airlines together. and get some s

we're also watching hertz closely, carl icahn to announce a stake of over roughll 8.5%, today we hear have the new -- brian mcdonald, head of the equipment and rental business, @tepping in as interim ceo. and when i find it- i go for it. (announcer) at scottrade, we share your passion for trading. that's why we give you the edge, with innovative charting and trading features, plus powerful mobile apps so you're always connected, wherever you are. because at scottrade, our passion is to power yours. watch this. sam always gives you the good news in person, bad news in email. good news -- fedex has flat rate shipping. it's called fedex one rate. and it's afrdable. sounds great. [ cell phone typing ] [ typing continues ] [ whoosh ] [ cell phones buzz, chirp ] and we have to work the weeken great. more good news -- it's friday! woo! [ male announcer ] ship a pak via fedex express saver® for as low as $7.50 [ male announcer ] ship a pak via fedex express saver® whenwork with equity eerts who work with regional experts who work with portfolio management experts that's when expertise happens

points sitting at 16,982, but the lowest since the 2,000 mark and the s&p up 1986, take a look at hertzwhere kyle icon gets two nominees to be put on the board and right now the stock where carl icahn is up 1% of $28. blackberry yesterday made an announcement in the u.k. you can have a couple of phone numbers on one device. you can be billed separately for each of those. pretty much flat today. el pollo loco is soaring but r darden is trying to turn around of garden. we've never sold a house before. (agent) i'll walk you guys through every step. there are a lot of buyers for a house like yours. (husband) that's good to know. so i can reach ally bank 24/7, but there are24/7branches? it's just i'm a little reluctant to try new things. what's wrong with trying new things? feel that in your muscles? yeah... i do... try a new way to bank, where no branches equals great rates. charles: back to our pulse of america story, president obama says by almost every measure our economy is better off than when he took office. there's a new fox holds as otherwise. 50% of voters say that claim is mostly

hertz announced this morning that it entered into a definitive deal with carl icahn to appoint three to his board. a five be 50 -- part of person committee to find a new ceo and carl icahn city thanks -- said he thanks them. he got what he wanted. number nine is american eagle outfitters, upgrading overweight from equal weight at stevens saying that improving products and inventory management should drive sales and profits over the next few quarters and stevens raised its price target to $16 from $13. >> number eight is iliad. --gilead. they have cheaper versions of a drug that they are selling in india and have added 91 underdeveloped countries. >> number seven is mastercard with shares rising in the premarket after it was confirmed as an outperform rating. many investors see the announcement of apple way as a long-term positive for mastercard another credit card companies. six, payings number a $66,000 penalty to settle accusations that they ran false advertisements and overcharged customers for coca-cola products in new york. we're learning about lessig's resignation of the compan

asking d me -- you're call hertz about what they think about class in america. most of the world looks at most of america and they would say class. even when i was in much more what weshed conditions, would consider lower class in america, we lived like upper class. mean is we had air conditioning. that's what the pharaohs of envious of.be we were hungry but we food if e to go to get we really wanted it or didn't what was sarily available. everybody called in today has a phone line they can call in on. something our founding fathers would have been jealous of, the ability to throw your all the way from florida up to washington, d.c. by button. a so i think in general, most of here in america. having said that, you know, i little luck and hardwork to get where i am today. baseline intelligence and hardworking. but to the poor people out there who are financially poor, who are looking for opportunities. you make your own luck by going to a place like north dakota, over the e all country. you know, i started making years ago.ew off because my -- the closed. was wor

taking it to the hertz rental business. it is a business that's just been fantastic. why?esidential and nonresidential rentals. i think they'll sell and i want to caution. trx is not terrific. sell caterpillar before you sell united rentals. this is one of the best in the country and continues to buy companies and is taking market share so do not presume that trx is bad news for united. >> you mentioned caterpillar. mining is weak. >> mining in the -- david, if you asked me the weakest industry in the world, i would say it's mining a. lot of that is china. a lot of that is kind of a belief we don't need raw materials because the import numbers of china are not that great. i don't like the mining business. one of the reasons i had to leave joy. tell people not to buy joy. caterpillar is doubled down on the mining division and a mistake. been a good stock and i think it is done for now. >> we have a lot more to watch including, of course, caterpillar and trx. "squawk on the street" is coming back. [ male announcer ] automotive innovation starts... right here. with a control

asking d me -- you're call hertz about what they think about class in america.ost of the world looks at most of america and they would say class. even when i was in much more what weshed conditions, would consider lower class in america, we lived like upper class. mean is we had air conditioning. that's what the pharaohs of envious of.be we were hungry but we food if e to go to get we really wanted it or didn't what was sarily available. everybody called in today has a phone line they can call in on. something our founding fathers would have been jealous of, the ability to throw your all the way from florida up to washington, d.c. by button. a so i think in general, most of here in america. having said that, you know, i little luck and hardwork to get where i am today. baseline intelligence and hardworking. but to the poor people out there who are financially poor, who are looking for opportunities. you make your own luck by going to a place like north dakota, over the e all country. you know, i started making years ago.ew off because my -- the closed. was worki

. >>> shares of car rental giant hertz did rise this morning because carl icahn struck an agreement.push for management changes and boy, did he get them. >> well, resigned. >> he said it was for personal reasons if you remember. those personal reasons might be that he didn't get along with carl icahn. i don't know. we will see. >>> it is a big week on the economic data front. wrapping up with retail sales numbers that are out in an hour from now. joining us now to give us the lowdown on all things economic related is our senior economics reporter steve leisman. good morning. >> thanks. three pieces of data to watch earlier this week. the other two, they came in reasonably strong showing services strength could be as high guys in the second quarter as 4.7%. and there's a debate about whether to suggest better growth and services for this quarter, the third quarter which is running around 3%. but the jobs report from kansas city remains at a low level relative to normal. but with momentum. today we look to see if there's a rebound from the weak july level we have. economists looking fo