. >> howard hughes asked for permission to buy another gambling casino, this one in reno. >> when howard hughes came in, and the corporate mentality took over, i'd like to get there before with an audience. >> if you can do that, it works. >> elvis was caught in the trap and he couldn't get out. luck. be a lady tonight and luck be a lady tonight. >> tonight. look, if you ever were a lady to begin with luck be a lady tonight. luck be a lady tonight. >> the purpose of las vegas was to forget what was happening in the rest of the country and leave it behind. people in las vegas were certainly aware of what was going on in the 60s, but no casino was going to have a bunch of hippies coming through protesting against the vietnam war. so you start to see a transition period. now you've got people and fresh minds that are really interested in las vegas coming in las vegas. >> it was to here four years ago that howard hughes came. hughes, the sportsman and pilot engineer, eccentric, but most of all billionaire. >> in 1966, howard hughes is a long time aviation pioneer. he'd had a career in movies

in a letter to howard hughes, ackman wrote while he is pleased with the business progress that howards has made over the past 14 years, he along with other long-term shareholders have been displeased with the company stock price performance. you can see it here, howard hughes went public in 2010 the stock is up 164% but you compare that to the s&p 500's gain of 375% in the looks a little thin. forget about your cell phone battery dying tiktok is on the verge of feeding the black for good. on sunday unless the supreme court intervenes for the chinese owners decide to sell it billionaire is the one you hope to buy it, he is here, for some fox business again his odds of getting the opportunity to scoop up tiktok. tiktok sensation the risley may have to find a new platform for his video and takes if the band takes place late euro phenomenon this is him he was such a hit in the fox news radio offices with lines of staff members coming to meet him and mimic his signature face the facial expression with millions pressing the follow button i had the chance to sit down with christian the risle

bill ackman proposing a deal to merge with howard hughes.. your take? >> that's what we're hearing about and bill akreman has a good track record. every great investor over time has had bad investments and you never know how this will work out, but i do like the idea that howard hughes has with master planned communities is an interesting ones. these eople, we have tens and hundreds of thousands of baby boomers that are retiring. it's expensive to retire in florida now. prices have shot up because of the pandemic and the insurance prices are through the roof. so i think these things will work real well, but the one thing you do have to worry about with the stock is that, you know, it will be a risk name. >> thank you. >> matt, i hate to jump in like that, but we have ten seconds in the show. i always love having you on. i can't talk any faster. >> but i can s thanks for watching "power lunch." >> we have three seconds. "closing bell "kwot starts right now. >>> guy, thanks so much. welcome to "closing bell "qwest. i'm scott wapner at the new

. >> kb on solid ground, and why the hedge fund is looking to take over howard hughes. >> we're live from studio b. on the desk tonight, key seymour, and guy adami. we start off with major moves in the most popular names. apple spending most of the day in correction territory, ending down a percent, and now more than $25 off its post-christmas high. nvidia, bitcoin and tesla down double percentages as the treasury yield hits a 14-month high after last week's blowout jobs report. as chances of a rate cut lessen, the dollar index on the move. and don't look now, but a huge slate of earnings is upon us. jpmorgan, goldman sachs, wells fargo and citi kicks things off on wednesday. followed by reports from taiwan semi, united health and many more. is this just a temporary pause on the road higher for stocks, or are we nearing a major inflection point for this market? >> that's an interesting setup. here you go, i'll give you my sort of two cents. an optimist will say great reversal off the lows, that was impressive. the vix backed off, we're going higher from here. pessimists will say that

he is acquiring the howard hughes holding company.der performer in truth, but buying at a premium. well talk about the premium in a second. perhaps the larger story is this acquisition that effectively bill ackman is going to attempt to make now, would become a permanent capital vehicle for pershing square and puts pershing square in the business of buying controlling stakes in operating businesses so much so that the way bill ackman is now describing this transaction is to compare this deal with the first deal that warren buffett ever made. >> this is his way. >> with ies to mr. buffett, hhh would be the modern bay berkshire hathaway with controlling interest in operating company. pershing square up here and all of the different funds. you remember that pershing square sought to go public in the ipo earlier this year. that was temporarily withdrawn, but my understanding is that they could decide to go public again in the future. so, this is sort of an initial step in this permanent capital effort for pershing square. >> this is anoth

deal with nippon steel it is up 6%, bill ackman capital management proposed a deal to merge with howard hughes for $85 a share this is the latest step in the pursuit of the real estate development he used to lead up ten points we are officially a week away from trump's inauguration first lady melania trump told "fox & friends" what is different compared to eight years ago. >> do you feel like you're in a different space then you were eight years ago. >> i feel i was always me the first time as well. i feel people did not accept me or understand me saying the way that they do now maybe they see me as a wife is the president but i'm standing on my own 2 feet, independent and i don't always agree with what my husband is saying or doing but that's okay. >> are you able to tell him when you disagree. >> i give him my advice and sometimes he listens and sometimes he does. >> the first lady went on to say her priorities for the upcoming administration is to be a mom, first lady and a wife. still ahead later today president biden will give his last foreign policy speech he plans to highlight his legac