we begin with carl icahn. it takes a certain breed of stock market investor to thrive in queasy times, and icahn is one of that breed. he has a knack of turning someone else's loss into profit for himself. but he can also help others improve their bottom line through the so-called icahn lift, an upward bounce that often happens when he starts buying a beleaguered stock. when the financial crisis hit in 2008, many investors were tearing their hair out, but not icahn. the state of the economy changes, but icahn's investment philosophy remains the same. as he told leslie stahl in march of 2008, carl icahn looks to pounce while everyone else is losing their shirts. >> the day we visited icahn enterprises, the stock market was swinging wildly, at one point, dropping 300 points. so has this been a bad day? this is not a great day. >> tough day, tough day. >> wow, this is beautiful. look at your view. icahn works in a skyscraper suite overlooking new york's central park. >> i think i lost today. >> you did? >> yeah.

icahn. >> carl couldn't care less about anybody else but carl icahn.really. >> that doesn't mean shareholders have not benefited by what he does. carl, i always said carl doesn't like anybody. i play tennis with him twice a week. we were neighbors in bedford, new york. he is smartest buy i ever met. melissa: really. >> i spent time alone with bill gates, former treasury secretary bill simon was my client. carl icahn is smartest fan. he amassed his fortune without a company. he is a row depreciation ridge back. jumps on the back of ceos and takes their money. melissa: what do you think motivates him? is it all about making money. is there ego in there and does it serve the shareholder in the end. >> certainly it is about making money. he is a money manager. that is what he does. he runs his own money. he doesn't have other investors invested in his hedge funds. it is justfu carl icahn's money. melissa: he comes under the heading of shareholder activist, when he gets involved in a fight, you look at it, here's somebody powerful enough to have somebody ha

you can take carl icahn out of bronx but can't take the bronx out of carl icahn. >> that's right.is next story will interest you. you had a part in all this. liz: by the way see neil he is entire interview with carl icahn on "cavuto" at 8:00 p.m. eastern. david: back to the story we're telling you about, irs is admitting 75 conservative groups were unfairly target by agents particularly those in the tea party. liz: itch red son in -- rich edson with the developing story. >> admission stra the internal revenue service that irs employees in cincinnati singled out conservative groups applying for exempt status. they singled out 300 groups for further review. a quarter of them because they featured the word tea party or patriot in their applications. on a conference call the director of irs exempt organizations says that is absolutely inappropriate and not the way we ought to do things the obama administration says, it will investigate this. >> irs is an independent enforcement agency. the, which i believe, as i understand it, contains only two political appoint sees within it. the in

carl icahn upping the ante for dell. what is at stake after his spirited interview earlier today on "the halftime report?" and what's in store? the biggest names in retail getting ready to deliver earnings. we're tackling the postgame analysis. the dow and the s&p 500 closing at all-time highs here. we're tackling if the rally is getting overextended here. interesting close to the session. we did see the markets rip into the close, grasso. >> we did. it's getting a little too telegraphed for me. we had a conference call this morning and i felt negative. i sold my apple, sold my google. i felt it was too telegraphed at this point. i think there's room to the upside. i don't feel like i have the brains to pick a top here. >> we had outperformance in the nasdaq today without apple which grasso sold. >> yeah, apple was down most of the day. closed down 85 by. the nasdaq was up 1.75%, versus the s&p, up 1.1%. you've seen the rotation. industrials have done well here. but to me, the main story is the slope, the assent here is

so where is the sweetener in this from icahn. >> that is a great question because the icahn deal is justre in cash or stock in the company. a piece of it he still wants to be publicly-traded. less than what carl icahn's team was offering a few months ago. they were offering more money a few months ago, 15 bucks a share. so when we have now, the board just out with a new statement, breaking news here on carl icahn's offer. basically saying they will review the transaction. let's put it up. we're carefully reviewing the potential transaction for the potential risks and so forth. the carl icahn team is essentially saying, look, we also want to get rid of the board. carl icahn has southern asset management on his side. let me break it down. icahn saying his side, 12 bucks a share. percentage of dell still publicly-traded. that is the upside for that deal. you can still get a piece of it because it is still publicly-traded. the michael dell side is $13.65 a share. it has more debt. 16 billion in debt versus five billion on the icahn deal. which one sounds better? what we do know right now tha

carl icahn is a great investor.s done magnificent work in finding value in companies that are undervalued, but who knows the internals better than michael dell? >> yeah, nobody does. and to the point, you have a guy like carl icahn fighting for the company, there has to be something that's worthwhile whether it's a 13 or a 15 or a $25 stock. there's something worthwhile there if michael dell and what he wants to do with the company with network storage, with software solutions and with the existing pc -- liz: let's bring in jeff. jeff, you're listening to this, and i'm thinking to myself, i don't know, i mean, it was under michael dell's watch, and the previous ceo where this thing lost its market share to hewlett-packard? i mean, what -- how did that happen? and then you look at how slow they've been on everything when it comes to what people looked at dell for, and i think to myself, okay, fine, you know, adam just pointed outyou had a 9% drop in certain metrics here. is that the reason that these numbers were suc

dell out of dell or you know his own namesake has this deal and i guess icahn has a proxy war. icon is trying to sweeten the deal dell wants to pay twenty four points. billion dollars to the shareholders for the company and icahn is offering a little bit more twelve billion dollars a share extra in cash or stock and this is carl icahn is of course the same guy who got into a big time with bill ackman on c n b c a few months ago and that was over herbalife and that's still going on and i can't wait for the next but maybe maybe we'll see dell an icon on t.v. well michael dell is the son of the founder of dell so you was there anything that he had done maybe that didn't help the company well i'm not an expert on this particular company but i will say in terms of carl icahn he is a very powerful and astute activists investor and that means what he's buying shares in a company he's trying to influence the board of directors and he wants to influence what you want to have my shareholders meeting and yeah i would on this one and they might yeah in august they're supposed to have a sha

the icahn letter has pushed up to maybe above $13. little ironic, because the structure he's proposing, known as a leveraged recapitalization, is often employed by company management as a shark repellant against unfriendly takeovers. in this case, maria, icahn's the outsider, but he may be offering the friendlier deal offering traditional management tactics. >> really interesting, kate. i can't believe this is still going on. >> oh, i know. it's been going on since february 5th, when the michael dell/silver lake offer was first put on the table and the company has gone along with that. of course, you know blackstone was seriously considering that but then backed off because of deterioration in the pc space, which, by the way, is quite pronounced. year over year for the first quarter, a decline of 14%, worst in pc industry history. there is a real trend going on there and there's sufficient cause for concern. but at the same time, you now have two horses in the race, you might have more of a floor for the stock, and who knows, maybe ev

icahn says. he sent a board last evening.erations that led to michael dell's offer for the company. he said, we are often cynical about corporate boards but this board has brought that cynicism to new heights. a special committee refuses to budge. it says either give shareholders the real choice they are entitled to or face legal liability for your failures. don't miss carl icahn later today on cnbc, on the "fast money" half-time report. with us to talk about the news stories driving the conversation is your publication likes to say, ben white on the politico. >> driving the conversation. "game change"er. >> "game change"er. also aaron task is here. >> you were the good brother. >> it was sad. exactly. adam trask. >> adam was the father. >> aaron and caleb. >> i'm impressed by your knowledge. >> you founded a business school up at m.i.t., right? >> that was a different branch of the family. >> senior editor at large from fortune magazine. do you have a talk on carl? would you accept this bid, or do you think this is an effort

icahn and southeastern own 16%.rnal says in a letter to dell's board icahn and southeastern have proposed replacing directors and management. >>> dell's stock up over 4.5% in frankfurt. >>> and julia has been speaking to mario greco in an exclusive enter swru from milan after they beat estimates for the quarter. we'll hear from julia and the man himself. >>> here are your headlines. g-7 landed in u.s. we bring you exclusive interview with jacob lew, that will start in about 15 middle. >>> the yen slumped for fresh four-year low against the dollar begging the question just how low can the japanese currency go? >>> and cnbc learns carl icahn is preparing a proxy battle for dell in challenging to founder michael dell. >>> also the ftse moved today. the italian stock exchange leading the gains in europe and down to generali helping out, up 1.2%. posting a 6.3% jump in first quarter net losses. it had a loss in 2012. how much of a turn-around how we government the company? julia has been exclusively speaking to the ceo a

that carl icahn is proposing.ld be a very heated meeting later on tonight. >> yep. meanwhile, carolin, away from that, shareholders have driven up a shake up at glencore, as well. what exactly is going on here? >> that is a very interesting choice, isn't it? tony hayward, three years ago, he was voted the most hated man in the u.s. over bp's involvement in the oil spill off the gulf of mexico. but keep in mind that he's actually been an independent director with glencore since 2011. and his chairman is really going to be in on an interim basis. from now on, he's going to be running the nominations committee and we understand that a chairman should be selected before the end of the year. but this follows the shareholder resort at glenn core's shareholder meeting yesterday. 81% of the shareholders wanted the current chairman to leave the company along with other xstrata managers. he was heavily criticized by these shareholders for not getting the best deals in this glencore/xstrata merger and also for backing this c

as for icahn, he wants icahn on the board.ber, he sits on a range of boards including starfire, cvr energy and tropicana. in addition to himself, icahn wants what looks to be a range of venture capitalists, officers at icahn capital among others. in addition, southeastern nominates six persons, taken together looks mostly like tech consultants and lawyers. back to you. >> thank you very much, josh lipton. this is unusual on carl's part as josh mentioned, he serves on a few boards. cvr is the last board he took an active role and served on the board for. let's say you're sitting on a board. what's your move? >> if you have a tight stop on this thing, i think you can still play dell from the long side here. i'm not speaking to the business necessarily. i know the stock has sold off. we obviously had it 14.25 a little while ago. i think you can own it within an extraordinarily tight stop, understanding that this could go pear-shaped. risk/reward to me still sets up better on the long side. >> amd, in case you missed this, the sem

icahn wants a fight? michael dell wants to take his company private.ngs come out, wall street is expeeting a little different than what was leaked to the "wall street journal." wall street expecting 35 cents per share, the leak that there'd be revenue of about $14 billion and earnings per share of 20 cents. and there's concern that perhaps trying to make dell look weaker so that his recapitalization plan -- forget the michael dell plan -- that his recappization plan -- capitalization plan. as far as jcpenney, liz, we're expecting a loss of 85 cents. they're coming up with a new logo, the fourth in, what, less than two years? but they're also going to look for hether they're going to detail how they're going to do their new coupon issues, and we're going to see if they have a chance to get this company on track. $821 million cash on hand, but remember they signed that deal were 1.75 billion line of credit with goldman sachs. liz: they need new logos. i don't like the one they currently have. it's wimpy. >> reporter: you're a logo woman, huh? liz: oh, ye

carl icahn increasing his stake in herbalife from 15.9% to 16.5%. again, icahn raising his stake. subject of a big debate between two big debates, icahn who is long and bill ackman who accuses the company of being a pyramid scheme. >> icahn bought more than 611,000 shares. stock closing today at the regular close $43.01. up in the after hours session. >> when i was younger, it was a game show called "press your luck." no whammies. >> loved that. >> completely rigged. >> radio show? >> no. i dig carl. beard looks great on him, but i think he's pressing his luck on this one. i'm convinced mr. ackman is going to prove to be right. not to say the stock can't go to $45, $46, but i think it wasn't about this quarter, i don't think that is about the trade. i think this stock gives up the ghost. >> when you say that, are you saying you believe that this is a ponzi scheme? >> i guess i have to believe that, yeah. >> if you're you canning company on its fundamentals. >> clearly, i haven't done the work on it. i know how efficient and how much work goes into his work. i can't believe for the

carl icahn says they're not giving shareholders a fair dial. to tank your stock price to give bad earnings or is the company is a mess and those are the numbers? >> the company is a mess and that's fair. revenue was better and earnings were dissass tir. what that does from the shareholders perspective, all right if the company is disasterous, maybe michael dell's 13.65 offer in cash is safer deal. now carl icahn's deal is about 5% higher but it is contending end upon some financing. so maybe a bird in the hand, two in the bush kind of thing. so i think investors are looking at these numbers and management may have thrown in the kitchen sink and tanked the quarter in order to facilitate their ability to close this deal. melissa: this is my question, why does anybody, carl icahn, silverlake or michael dell, why does anyone want dell? >> that's a great question. when they take this company private they have got a couple years to restructure it. they have to focus upon the aspects of the technology market that are working. so maybe they get into st

icahn has said.re is a vote that doesn't include michael dell and could very well then go down and they'll vote against and perhaps others will, as well. that's your opportunity to speak up and what happens then is the key question. will silver lake try to secure that vote? it's not clear to me that they will. we have this company reporting earnings on may 21st and everything indicates those are not going to be great numbers particularly on margin, at least and you have to watch that. it could be below the $3 billion number we're dealing with and not to mention any other private equity look and kkr, and i shouldn't say any other, and say no thank you at this point. >> again, he's not making a tender offer for the company. he's simply saying, take control and we will pursue this leveraged recap plan where we will load debt on and we believe we'll give you a higher return. >> what do you think about the fact that they're guiding down in estimates and forecast in order to take the wind out of the sails

says i'm square or narcissism at the speed of narcissism squared because look at a deal like carl icahn buying into herbalife it herbalife is a ponzi scheme herbalife was on its way to going out of business it's a multi-level marketing scheme otherwise known as a ponzi scheme what is funny guy was shorting the stock aggressively twenty million shares or more of one hundred million shares outstanding in herbal life but then carl icahn comes around and starts to buy the stock not because he likes herbalife because he likes the company but because another had fund manager short and he can torture that other hedge fund manager by buying stock or going along and creating what's called a short squeeze so now the herbalife stock is trading near all time highs is it because the underlying company makes sense economically no it's a ponzi scheme is it because it's well managed no it's a ponzi scheme do you have one hedge fund manager battle going the other hedge one money both bill a quint and carl icahn are borrowing money from the wholesale market a near zero percent rates to do battle against

we have some new developments today in carl icahn's bid to buy dell.e had this to say about michael dell's future under his proposal. >> i will say that if our board's elected, he's not going to be running the company. that i guarantee you 100%. it's not that i have anything against dell, i'm sure he's -- i never met him, but i'm sure he's a very nice guy. >> all right. well, today dell's special committee issued a response to icahn asking him to, in their words, please identify the persons you would expect to form the senior management team of dell following the transaction. joe, i'll get your opinion on where all this goes. you were in dell, you're not in dell anymore. >> yes. >> what would make you want to be a part of dell? >> i don't want to be a part of dell because i think there's too much risk right now and jeffries put out an excellent report highlighting the fact that shareholders right now are just going to basically want the $13.65. they're not going to want to take the volatility risk, they're not going to take the uncertain downside risk

icahn tells reporters it's better than the $13.65-per-share buyout proposal from michael dell. shares traded up 1% to $13.45 labor groups in the u.s. are calling for safer working conditions in bangladesh. following the factory collapse that killed more than a thousand workers, the international labor rights group started a petition against gap, walmart and h&m to make immediate safety improvements. union members protested at gap stores in several cities over the weekend. a gap spokesperson says the retailer has been willing to participate in discussions regarding factory conditions for two years, and is launching investigations. a criminal investigation is under way into the deadly explosion at a fertilizer distribution plant in west texas. friday, bryce reed was arrested. he's an emergency volunteer who was one of the first responders to the disaster. reed was taken into custody for possession of a destructive device. 14 people were killed in the april 17 fire. north dakota ranks number one in the u.s. for deaths on the job, according to a study by the afl-cio. it's followed

there's no good scenario here other than the carl icahn scenario. see any upside reason to own the stock. >> all right, financials ripping over the past year. it's a part of the market that's been working. other areas getting hit by sector rotation. the resiliency of the big banks kicks off our street fight. guy is the bull josh is the bear. 90 seconds to make both cases. guy, kick it off. >> the broader market trumps everything, but let's just assume we're besign for awhile. valuation is very come peopling for the banks. that plus the fact maybe we're getting back to normalized earnings for these guys. pete's been seeing huge call buying now in all the financials for awhile now, so the options seem to be behind it as well. yield, the yield curve still works for the banks and plus think about this. they have shrugged off every piece of negative news that's come through the pike over the last 12 to 18 months. one has to think the resilience is still there. >> yoshjosh? >> i agree with almost everything guy said. the problem is this sector is not goin

carl icahn putting money where his mouth is.ll, and guess what? he and southeast asset management, southern asset management, solicited proxies for southeastern. icahn put forth board nominee as a single slate. six from carl, six if southeastern, and carl icahn nominates himself as a board member. a single slate of 12 for dell. dell, earlier said, hey, you're talking so much smack, you want a board? why don't we see names here? there's names, we are waiting on it, from the "wall street journal," and as soon as we hear, we'll let you know. david: upping the anti. liz: he said he would. david: yeah, on friday. liz: presenting the fall lineups to advertisers to sell a lot of ads, and, clearly, never harder to create a hit tv show as staggeringly high numbers of of shows put on the chopping block. david: how will the studios have the cash for the programs? dennis is here with me. >> not a single new network show caught fire this tv season, and a lot of incumbent series are getting along in the tooth, so the result is cancellation ca

carl icahn, six months ago he became a major netflix shareholder.ht 5.5 million shares at $58 apiece. netflix stock rallied 4% today, hitting a two-year high. since icahn bought his stake in netflix he has made a profit of more than a billion dollars! wow! losing money today, anyone who owns apple. apple management a top hedge fund cut their holdings of apple in the first quarter. that is according to sec filings. the news sent apple shares sliding more than 3%. >>> the university of southern california making music money mogul.

carl icahn's efforts to say that michael dell is seeking to get this on the cheap. this deterioration in the pc market is the main lever that's going to cause this to swing one way or the other, guys. >> jon, thanks so much. let's get more reaction now to the dell earnings. i want to bring in ctacar to react to this how would you characterize what dell is reporting? >> that sounds about online with what we were expecting. michael really does try to articulate, so that's growing. >> the you look at what's growing here, whose side do you think that these earnings played better into? right, on one happened, michael dell needs to convince his shareholders that the company is in such bad shape to vote for our deal, because the only way we can fix it is to take it private. and on the other hand, you've got carl icahn saying, the company is in such bad shape, you need a guy like me to come in and fix this thing and focus on some of the key areas that the company's performing in. >> that's a good question. and it sounds like it was actually a combination of both. i think mi

those shares is in deep trouble i kept getting margin calls and more margin calls so measured carl icahn is in charge of russia china and iran and these other countries are gold buying policies and you can start to them and see the the problem that the west has going forward well of course in the west everybody's terrified of prices they follow price signals and that's it whereas in the rest of the world they're chasing ounces or cumulating ounces and chase the central bank's tonnage and finally you know soc gen's alber edwards is also saying the same thing warning stocks to crash gold to top ten thousand dollars albert edwards in a note that he wrote recently edward said that central bank stimulus measures will drive the world towards a global recession soaring inflation and a japanese style loss of confidence and policymakers quote we may have seen the peak of nominal u.s. g.d.p. growth for this cycle and unfolding recession should see a ten year bond yields do. ever lower and the fed moving to q e infinity squared he said we want q e infinity squared that's a lot of q eight but i thin

play the players and this is what we're seeing on a geo political level we saw recently with carl icahn knew that there was a huge short position in herbalife which is a ponzi scheme listed on the new york stock exchange and he went in there and he bought up a lot of the stock took it off the market and the other hedge fund guy ackerman who was our agrement who was short those shares is in deep trouble i kept getting margin calls and more margin calls so measured carl icahn is in charge of russia china and iran and these other countries gold buying policies and you can start to him and see the problem that the west has going forward well of course in the west everybody's terrified of prices they follow price signals and that's it whereas in the rest of the world they're chasing ounces or cumulating ounces and chase the central bank's tonnage and finally you know sock gens albert edwards is also saying the same thing warning stocks to crash gold to top ten thousand dollars albert edwards in a note that he wrote recently edward said that central banks stimulus measures will drive the worl

as the company at the heart of that battle between bill actman of pershing square capital and carl icahnading at herbalife was briefly halted this afternoon pending news that herbalife has announced the hiring of new auditor pricewaterhousecoopers. their previous auditor, kpmg, they were out one. they had to jettison kpmg. right now the stock is getting the nod. look at herbalife jumping about four and two-thirds percent. we're going to have more on this story in just a moment. in the meantime, got to get to microsoft. you just heard dennis kneale's report, talking smack. the company is touting the xbox as the entertainment console to own. microsoft says its newest xbox can be simply a one-stop shop. you can replace your often bulky settop boxes, and also microsoft says customers can channel surf by voice command. voice command. shares of microsoft are moving down just three-quarters of a percent at the moment, still at $34.84. and president obama has, indeed, signed a disaster declaration for oklahoma promising that victims will receive all the support they need after being hit by that

that carl icahn had taken a position in peabody. you can see the subject himself as we're delivering you that news. >> it's really limited impact that you have. they don't control their own fate. it's going the other way now. >> coming up, the next big thing. bank of america steve suttmeier tells us which sector he thinks is ready to pop. is the stock poised to break down? we're going to give you the trade next. [ male announcer ] with wells fargo advisors envision planning process, it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. see, i knew testosterone could affect sex drive, but not energy or even my mood. that's when i talked with my doctor. he gave me some blood tests... showed it was low t. that's it. it was a number. [ male announcer ] today, men with low t have androgel 1.62% testosterone gel. the #1 prescribed topical testosterone replacement therapy in

carl icahn, six months ago he became a major netflix shareholder. the billionaire investor bought 5.5 million shares at $58 apiece. netflix stock rallied 4% today, hitting a two-year high. since icahn bought his stake in netflix he has made a profit of more than a billion dollars! wow! losing money today, anyone who owns apple. apple management a top hedge fund cut their holdings of apple in the first quarter. that is according to sec filings. the news sent apple shares sliding more than 3%. >>> the university of southern california making music money mogul. dr. dr. e and chair of interscope records are, i'm sure i butchered that. are donating $70 million tot school that endow a arts and music academy. no matter what his name is, it is always about money >> the decision to issue this subpoena was made by the people who are presently involved in the case the matter is being supervised by the deputy attorney general. i am not familiar with the reasons why the subpoena was constructed in the way that it was because i'm simply not a part of the case. me

he's come under pressure from carl icahn who wants him out in large part because he is concerned abouttransocean to pay a special $4 dividend and its stock is slightly lower today and again, another example of what's been an interesting proxy season because of investors pressure. jim, become to you. >> it hides in the dollar, and the cme group in chicago. go ahead, week. >> lots of strange news this weekend, jim. if we look at the ten-year you can see we're hovering in the 90s and we are continually getting higher yields, if you were to look at a price chart of futures or cash you would see lower prices. so that at least from a technical vantage point is making many think 2% is not out of the range. if we look at the nikkei and after the g-7 and after this notion that we have an opinion about what quantitative easing is and does ask it certainly seems like there's a tolerant feeling as to weakening one's currencies and what that can evoke on the export market, but as you look at the nikkei, we can clearly see from the first chart that these levels are very aggressive, especially since

. >> icahn, prince accepted the billboard, of course, and the icahn award. erika badu, along with a fantastic new single that is not the new theme song, but we love it. that's awesome. >> we're still waiting for the winner of this new massive powerball jackpot to come forward. the $590 million ticket was bought in zephyrhills. and kerry sanders joining us now. i should remember zephyr hills because prior to this they were famous for their bottled water. oh, you have one. look at this. >> they're known for this for those people wondering zephyrhills, florida, just south gainsville. population about 13,000. yes, we are all anxiously waiting durious, who is the person? who is the winner and just a couple of moments ago i got an email from the florida lottery officials say i know you are all eagerly awaiting the powerball winner to come forward. we are, too. no one has claimed the $590.5 million prize. so as you can imagine, in a town of this size knowing that the ticket was bought right over there, it is the talk of the town. >> i'm glad because there's a lot o

petroleum, lawler succeeds aubrey mcclendon who was forced out in a sharholder uprising led by carl icahn. poverty is growing on main street. suburban poverty is up 64% in the last decade.twice the rate of the urban poor population.as more companies moved to suburban america, workers followed. the recession killed many job opportunities. surburbs of salt lake city, austin, las vegas, phoenix and atlanta have some of the highest rates in the nation. -a group of economists believe consumers will hold up the economy despite sequester cuts. the national assocation for business economics forecast g- d-p will grow 2.4% this year....and 3% in 20-14. growth in 20-12 was around 1.7%. the panel also predicts consumer spending will pick up from strength in the housing and labor markets. new rules by regulators are slowing the process of banks selling foreclosed homes. wells fargo, citigroup and jpmorgan chase, reportedly have nearly stopped all foreclosure sales going back to may 6th. the reasoning was to make sure the foreclosure process jived with the new guidlines. bankof america however, is said

needs to understand the full terms and structure of the transaction proposed by icahn.un this company. secondly, it says you haven't taken into account how much more you need to borrow to make this transaction work since you're using all of this cash. it's a pretty interesting letter. it's worth taking a quick read. becky? >>> when we come back, more about stories in the headlines, including the bloomberg breach. is jamie dimon ready to leave jpmorgan? we'll talk more about that. [ penélope ] i found the best cafe in the world. nespresso. where there is an espresso to match my every mood. ♪ where just one touch creates the perfect coffee. where every cappuccino and latte is made at home. and where i can have exactly what i desire. ♪ nespresso. what else? >>> welcome back >>> welcome back to "squawk box" here on cnbc. a privacy breach involving bloomberg data terminals. steve liesman joins with us the latest. what have you got? >> three significant dimensions when it comes to journalist usage of bloomberg terminal. first, the private sector clients. it's a business story

have voted out the drilling company's chairman and backed a director of nominee of activist carl icahn's board of nominees. they owned the deepwater horizon drilling rig which caused the massive and memorable oil spill. shares closed down more than 1% today to $54.04, but are up more than 25% over the past year. >> shares of refiner tsoro, riding the waive of a strong energy sector. they won approval from the antitrust regulators to buy one of bp's refineries in california for $2 billion. shares up just about 7% to $62.24. >>> shares of pandora took a hit after a pair of analyst remarks. one downgraded the online music service to hold on fear that it's too expensive. while the other brokerage initiated verageit theell rating. pandora reports earnings next week. the stock fell 2.5% to $16 and change, but up 75% so far this year. >>> and a pair of software companies making strong debuts on wall street today, tableau software and marquetto, which makes cloud based marketing software, flying high. tableau up 63%, and marquetto, up to $23.10. >>> one year ago tomorrow that the highly anticipa

but activist investor carl icahn is expected to persuade shareholders to vote against the buyout plan. he holds a large stake in the company and has railed against the deal, calling it undervalued. it's expected that shareholders will vote on this in july. after several headline-making hacks, it seems twitter users are willing to fritter away their chance to protect themselves from future intrusions. with twitter- directed phishing schemes and the recent hacker break-ins into several media accounts, twitter came out with a 2-step login procedure. experts advise the twitterati to do it. but since it's optional, analysts say most people will think it's too much of a hassle. and with twitter being a first responder with news reporting, might it get into the news business? twitter's ceo yesterday said no. and nothing about a rumored ipo. amazon.com debuts five original tv series - all chosen by viewers. amazon posted - for free - 14 different pilots it produced and asked viewers for feedback. based on what it heard, amazon chose five shows worthy of full seasons. this new venture puts ama