i think ebay was right to resist carl icahn. we don't want him to be dictating what's a look on valley does. >> it sound like it was more about -- we don't want carl icahn. some high finance guy coming in and telling us what to do. but eventually these guys had to admit, and it seems that way today, that this was better off. why did they resist for so long? >> the world changes everyday. a look at the fact that apple, which we always assumed would enter the payments business -- they have it at a billion credit cards. -- 800 million credit cards. it whacked him across the face, this is real. i got to see what consumers are saying. is amonths ago to today different thing. if you are running a company, you hate to split it up. it's only one guy who says i don't even power, i'm willing to split off and run a smaller company. most people like to run a big company. paypal is a more interest in business than ebay. see, it isesting to a coup i think for them to prepare for the spinoff. it also makes both company's bite-size for alibaba.

certainly carl icahn shone a light on this issue. that isa transaction good for shareholders in that it highlights the value of the paypal business, which is a faster growing, higher multiple business. a lot of investors thought this should be trading on its own. a separation reflecting the fact that the mobile e-commerce payments business has gotten much more competitive in the last year with the entrance of certain big tech companies such as apple. >> the competitive landscape has changed since 2002 when ebay bought paypal. with today's trends towards mobile, there is also apple pay as a potential competitor. how does this spinoff played to the competition? >> the apple play was a big announcement. anytime apple gets into any consumer business, that's big news. the folks at paypal have long felt that this is a fast-moving business him an ever-changing business, increasingly competitive business. they have felt that they would be more nimble and more able to react to the changing marketplace if they were stand-alone company separate

icahn and mr. walters remain under investigation. >> tension slow the market to a crawl, but major indices set new record highs, the pro verbal calm before the storm, we will build your portfolio before the next move higher. you're here to buy a car. what would help is simply being able to recognize a fair price. that's never really been possible. but along comes a radically new way to buy a car, called truecar. and now it is. this is how car-buying was always meant to be. al dles: we are back w charles: we're back with a real deal for you. tracy what do you make of the volume? >> i think it is anemic, most of the bulls are somewhere having margaritas right now, right now small caps and tech stocks are not participating. >> most people say that. lowest volume since 2008, but i am taking a contrarian view, a lot of investors not in the market in may they pulled 1 billion out of funds people are -- >> what happened to that great bond rotation? >> keep telling stories about phil mickelson and insider

i think ebay was right to resist carl icahn.o be dictating what silicon valley does. --groups, it turns out that oops. it appears that carl icahn got his way and since the stock is up 11%, he was right. >> take a brand like williams-sonoma. you see a lot of counterfeit on ebay, and that has been primaryrs and brands' concern with ebay because they do not respect brand integrity. who do they not work with to punish ebay? they don't work with paypal. within three month at this span, you will see huge retailers decide to accept paypal and their growth will celebrate. donahoe sojohn resistant to the idea of spinning off paypal? what was his argument? >> it is the reason you probably own more than one stock -- diversification is the right strategy for investor come in if you are a ceo, you would rather grow 8% one year than 12% one year and 4% the next. 1.9% perd point out, year return for the last 10 years. you wonder why the ceo is still the ceo. how are you teaching this in your classroom at new york university? everybody ate and

what do you think of this carl icahn story. >> oh, fudge.issa: 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. in terms of options activity we've been seeing options markets pick up a little bit. there is little more bullish flow on icahn news. melissa: he has 8.5% of hertz. is he largest shareholder. he has a lot of heft. he makes waves in the market. >> i think it is great what he and all the other activist investors are doing. essentially saying there are boards and ceo not up to par. we need to go in and shake things up. he clearly done that, giving him three of the 10 board seats. >> his s

carl icahn got his way again.s splitting from mobile service paypal for two separate publicly traded stocks. >> while it may mark another notch in the belt of activist investors, is it a positive for all investors or just those the loudest and largest? joining us is julia larosh and kevin o'leary. you've covered icahn's adventures. what do you think is different about this one maybe than the past attempts? >> right. we can say it may not have happened without icahn. they talked about ebay spinning out paypal for years now but icahn forced it to happen or pay attention to it and never had a compelling argument to keep paypal and ebay as one company in the first place. >> how much credit should he get here? i talked the people today. some suggesting he was vital obviously in getting this done. others suggesting that he simply kicked down an open door. >> no, i'm going to give carl credit and also going to give the entire activist class of investor lot of credit because what they tend to do is scrape the patina off a

people close to carl icahn, according to those people carl icahn has not sold a single share of herbalifeinteresting about, if you look at the stock as it fell into the close, sort of ticked back a little bit in after-hours trading. charlie gasparino is reporting that he has not sold anything. that is according to sources close to mr. icahn. he does not have a options stake either as well. wanted to bring that breaking news. scott, so sorry, please continue to your thought. i wanted to bring the breaking news to our viewers. >> i'm sorry. basically what i was saying is, if yahoo! remains undervalued as we think it is, then we could see the potential for other interested parties to get involved in this situation. and to be honest with you, when you look at likes of a alibaba or a softbank, both of the people responsible for running those businesses last week said that they wouldn't rule out looking at yahoo!. so, look, i mean we don't think that is the premise for which someone should invest in, or stay in yahoo! but, we think that is another reason that could very well support the shares.

breaking news from carl icahn. >> carl icahn has boosted his stake in gannett.rl icahn now owns 38.8 million shares, according to a regulatory filing. again, carl icahn boosting his stake -- this is a company that has already had plans to split itself up to help create shareholder value. perhaps icahn wants to take that conversation further. but in a regulatory filing, carl icahn's firm has taken or boosted rather its take in gannett to 8.5%. >> thanks so much, dominic chu. interesting he's stepping in after these changes are under way. >> yeah, this is my conspiracy theory. >> i love these. >> obviously they announced the split. and that seems like it's going to happen. that's what carl wanted to happen. what we don't know is where the debt goes. and i wonder if he's doing something in the debt which you don't need to put in your filing. and whatever he wants to do in the equity could make the move -- could be beneficial to what he did in the dip. >> interesting. >> it's interesting that when he wrote his letter and made this big claim, the company had made the

at a time, icahn said he plans to push management for changes.he says that he won't pursue a property fight. two of the three directors will sit on a search committee to replace mark fezora, who stepped down this week. icahn told cnbc he acted the move saying hertz acted responsibly. hertz 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 compan

why did carl icahn start pushing for this nine months ago? he felt as though, and it seemed other investors agreed, that paypal was being held back by ebay. than half ofmore the volume of payments from paypal comes from ebay itself. was it holding it back in terms of soliciting other businesses? did other clients not want to sign on because they were in bed with ebay? >> like who? >> we do not know. there is also the question of investments. paypal was the more quickly .rowing of the two on the call, that is something john donahoe talked about -- this would be good for ebay because it would have to siphon off investment to paypal. he is claiming this is good for ebay as well. bottom line, paypal has been growing more quickly of the two, and it seems as though carl icahn and other investors want to tap into that and take advantage. >> people forget how long it has inn since ebay bought paypal 2002 4 $1.5 billion, and estimates are that paypal is worth $30 of every ebay share, making it a worth less than paypal, but it implies a value of paypal

carl icahn announced who would lead pay pal. but the big news is the current ceo of e bay, john donahoe, is neither one of those two names. they say donahoe will stick with the company through the transition and then move to the board. he's been under criticism. donahoe gets promoted and ebay becomes two companies, ebay and paypal. >> what about the timing? why now? >> today it's before the bell. you want to get all announcements out before the bell itself. as far as why tuesday? >> yes. >> that i couldn't say. that's a tougher question. >> it's the end of the month, too. >> there you go. >> we have new details this morning on the man hunt that kept police on peninsula busy for hours yesterday. we're getting our first look at a suspect who officials say befriended a man in order to hide from police. he was eventually taken into custody but this was a bit of a process. >> reporter: eventually, yes, sam. but it took a while, rough four and a half hours because a palo alto resident unknowingly helped the suspects elude police for m

. ♪ >> some breaking news regarding atlantic city and investor carl icahn.rg's own amia has the details. >> we are tracking the latest blow for atlantic city, the one time gambling hub is seeing financial ruin and distress, and the latest is coming from carl icahn saying that trumpet came to himagement saying they were losing $700 million a month. they asked if they could get concessions from the union, city and state, if carl icahn it be willing to invest $100 million, because no other investor was interested in putting up a cash -- ponying up the cash. he says that typically he does not like throwing good money after bad, he told the company that if they could actually secure those other concessions that perhaps he would go down that route. we understand through the statement that union does not appeared willing to provide those concessions. this has been a story that we have been following for quite some time. it does not seem like that will be enough to help this part of -- that has seen it gambling revenues decline. >> thank you. let's turn our attentio

they had not contacted icahn.as i'm aware, he was not aware. >> they have a strategic review every year. >> $180 million for carl. >> not a bad day. >> great stuff. when we come back, tens of thousands of protesters still occupying hong kong's financial district, setting up barricades. some fear a new push by police. a live report from hong kong. >>> later, ford making a big gamble completely transforming the best-selling vehicle in america. is that going to pay off? today could be the day. the day we give you hope. relief. a cure. today, we believe every life deserves world-class care. as one of the top four hospitals in the nation, over 100,000 people from around the world come to cleveland clinic for care each year. and we're ready for you with a second opinion or a same-day appointment today today today and everyday. call today, for an appointment today. the fund is seeing after bill gross surprisingly departed the firm he founded. we get word $448 million in outflows on friday, $98 million in outflows on mond

. >>> carl icahn had a response to tad's news. as i said in the past and maintain it is a no brainer these companies be separated and thus increase value for all shareholders. josh brown, this is interesting news. why not then, why now? i have a bunch of tweets. let's see. january 22nd. john donahoe. spoke with icahn about the spinoff. we believe it's more valuable as part of the ebay. ebay and paypal is best together. positioning to win in commerce and payments, ebay and paypal have huge opportunities ahead of them. what do you make of it. >> i think the t they made the right decision and i agree this is going unlock value and give both the companies a fighting chance to be really important on their own. the biggest issue scott to me is that first of all paypal has not been looked at as an innovator in recent years even though they invented this game. and if you want to attract top talent and management developers you have to give up off that veneer in the valley. having their own stock to dole out is going to adopt great talent.

it ended your way against carl icahn.s why the two companies were best together. you said first, ebay accelerates paypal's success. second ebay data makes paypal smarter. and third, ebay funds paypal's growth. i would assume those things are till true. >> they're things that can be done through commercial arrangements. that drops to less than 15% three years out. so that can be handled through a commercial relationship. second, the data. the data is something we really dug into this summer about seeing if we could give the benefits of data sharing for paypal's risk models and ebay's risk models through a commercial arrangement. we became comfortable we could. and third, in terms of fueling the capital structure of paypal we've looked at and can create two independent capital structures that can set up for success. those synergies and reasons that have been there for the last six years having powerful. but as we look forward, we prioritize the value of focus, strategic agility, and the ability to move quickly in a changing

. ♪ >> some breaking news regarding atlantic city and investor carl icahn.cking the latest blow for atlantic city, the one time gambling hub is seeing financial ruin and the latest is coming from carl icahn saying that trumpet management came to him saying they were losing 7 million -- 1100 million dollars a month -- $700 million a month. typically he does not like throwing good money after bad, he told the company that if they could actually secure those other concessions that perhaps he would go down that route. we understand the deep union does not appeared willing to concessions.e this has been a story that we have been following for quite some time. it is nothing like that is going to be enough to help this part of the world that has an really struck by the fact that gambling revenues have declined. >> thank you. let's turn our attention to 20% of the american household, one in five use food stamps. the usda says that 23 million households were on the food stamps last year, and the cost of the program snap was at a record as well. and yet the bureaucrac

carl icahn has been quiet now. out of the stock, we should point out.t of dollar tree stock, he's been quiet lately. he sounded off against the management of family dollar recently, so we'll have to hear what he has to say. this is interesting. we have offered the management of family dollar numerous occasions to come on and talk their side of the story. they have refused so far. any time they're willing to give their side of the story, we're going to be there. >> i'm sure carl is not going to pass up an opportunity to talk to charlie gasparino. >> i would like mr. levine to come on. >> liz claman, a lot of great stuff out of california, looking very relaxed by the way, a powerhouse like greylock, you are calm, cool and collected. what's going on? liz: i'm trying to get over charlie gasparino's goatee. i leave for one day, and you grow a goatee? i will have to get on him about that tomorrow in new york. here inside greylock partners, once they've picked a winner, a start-up they want to fund. here comes the money to hire people. what do they need to do?

it often means carl icahn -- >> to push the lever. melissa: one more time. >> i'm doing a public service. melissa: when charlie brings to the street, when you break it, no one can fix it. >> what are you talking about? melissa: i thought i said that quickly enough you wouldn't notice it. >> what do you want me to say? melissa: supposed to talk about the high frequency trade, the story you talked about when you walked in. >> that was oddest -- melissa: hello. >> oddest toss i ever had in my life. melissa: no, no don't go down that road. don't go down that road. cowan. >> listen here's the bottom line what we do know, regulators having a very difficult time coming up with, forget about criminal, maybe civil charges against high frequency traders for pernicious high frequency trading. bottom line is, i'm not saying they won't. a lot of bad stuff. largely on the edge. not a mainstream thing. what is stepping in the void to battle against pernicious predatory high frequency trading? what we see here is a private sector solution, coming out

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 they believe in the strategies that they're pursuing. that it's bigger take away. we can also talk about hertz and darden specifically. >> i love the improvement in darden now that they seem to be focused on red lobster. is there a real nice deal. they can only focus on olive garden. there is a nice progression. olive garden was down terri

carl icahn and others urged the split. ebay's marketplace president will become the new ceo of ebay. american express executive dan shulman is ceo designate of the new paypal company. is this a good idea? my partner, emily chang, has been posing that very question to the original founders of the paypal mafia. let's see what they had to say. >> no matter what happens, whether they spin it out or keep it in, there has to be a very firm agreement between ebay and paypal. that is true. could paypal grow faster if it were not within ebay? maybe, maybe not. would it be valued differently by the market? would it have a better multiple? all of that stuff? i don't really care. having said that, i think about were spun off, you could motivate the management team to do more direct. they would be compensated. the on paypal's performance. balance, i would say spinning it out is not a terrible idea. paypal be spun off from ebay? >> i think there are very large synergies. maybe it is something they should consider in the future. i think

kate, good to so you this hour, appreciate it. >>> breaking news involving hertz and carl icahn.cott wapner has the details. hi, scott. >> hey there, kelly, thanks so much. call your attention once again to shares of hertz which are rising now after hours on news that hertz has added 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

that will avert a deal with -- a battle with icahn.agreement comes on the heels of the monday announcement of the resignation of the ceo. ford is recalling more than 200,000 cars, among them the escape and focus. gm has put a hold on deliveries chevy hotselling corvette. olympic medalist oscar pistorius has been found guilty of culpable homicide in the shooting death of his girlfriend, reeva steenkamp, on valentine's day of last year. global homicide is the equivalent of manslaughter. -- culpable homicide is the equivalent of manslaughter and could carry a sentence of five to 15 years. the judge ruled yesterday that he was not guilty of murder. we are "on the markets." we will get another peek into the consumer. retail sales numbers for august will be out. we are "on the markets" again in 30 minutes. back in washington, the cia has increased its rough estimate of islamic state fighters. could fallbers between 20000 and 31,500, up from 10,000 in may. america's escalated offensive against the organized nation contains complex and challen

icahn almost a sure he will stay in the position. >> i don't believe so. >> national center for public policy research and "politico" imbedded with the justice department with the bush administration has said justice department then about hiring political appointees? >> they make them look like amateurs. we look get the inspector general report it is not just political the for example, a to the inspector general you will find in the civil-rights division have all been hired from just five advocacy organizations. eight like the aclu so i can tell you from experience they don't make the transition to be government employers you leaf private practice or in organization and go to work at the justice department you will transition into a government lawyer whose job is to represent the public as of whole. and the people who come from those organizations still think they're working through that but they have the resources to do what they want to. but the couple of years ago we did a freedom of information request of all the people hired in to the civil rights division at the start of the admi

of course, this is david, under huge pressure from carl icahn.ey were going to spin off the equipment business. frissora, basically built this. he dlid the dollar thrifty acquisition. >> they have yet to benefit from that the way competitors have. they're in accounting hell, restatement they haven't given a forecast. he moves the company down to naples. some questioned that. they lost a lot of staff as a result of that. from what i'm hearing, from sources close to the board is, macdonald, originally tapped to run equipment leasing, may stay in that job. >> not just an interim -- >> he is interim now but expected to be let's call it, he has the inside track. which may be a surprise to some who expected, scotts thompson, many thought might want to be in a position to take the guy who is running dollar thrifty for them but i'm told there's a belief on the board it takes somebody who can aren't a complex organization which clearly hertz seems to have become, a lot of different moving parts and not great execution or performance of late, hence mr. fri

. >> power players -- from warren buffett to carl icahn. the 50 most influential people in business. >> commissioner on a hot sea. the question about the future of roger goodell after a video sparks debate about domestic abuse. >> much to talk about. let's get the news feed. >> the world. trump entertainment resorts has filed for bankruptcy again. trump owns two atlantic city casinos. neither has anything to do with the donald. americans are not loving mcdonald's. sales fell for the fourth month in a row globally. down almost 4% in august. the rankings of colleges is out. princeton is number one. yale was third. the top school on the list, the university of california at berkeley coming in at 20th. >> we hope tim cook got a good nights sleep. today, it might be the biggest day of his career. he will be unveiling the most important new apple product since he took the helm at l -- to the helm at apple three years ago. we are expecting a bigger iphone, and iwatch, and do some sort of software to revolutionize mobile payments. corey got a good

liz: do we know how carl icahn feels about this? the annual high of the stock was $83.'s shorting it in december of 2012. it's been a while. >> he's got a position involving kohl's, but it looks like he's in the black, that his call is right now in the money. >> you're in the green with me. you shaved. i like you clean cut. liz: you know, the mustache institute was not enough to take on my wife, so to speak. liz: good for virginia. 26 minutes before the closing bell rings. we all remember the got milk commercials? can anyone afford it with milk futures at an all-time high. go almond milk. we go to a chicago bakery to find out what's going on with the prices. >> with paris hilton promoting not milk but burgers like ads like this one. many americans are losing their taste for fast food. that's hanna and paris, get with it. next the c of the company behind the racy adses of cke restaurants. carl's jr. is here to tell us what they're doing fight back and to do well in business. sincthe day you met. but your erectile dysfunction - it could be a question of blood flow. cialis

carl icahn is pretty happy. the announcer is -- facebook gopro new highs and ford sold off. charles. >> charles: that was one heck of a rollercoaster the market stumbled out of the third quarter they were in the plus column, but obviously in tremendous pressure as anxiety continues to grow over a number of issues. the direction of the economy, these geopolitical events that seem to mount and mount. testing the nerves of sellers and buyers, by the way, once again now the real winners those activists investors including carl icahn. ebay's management blinked and they will split off paypal into separate companies. let's discuss the play on ebay. how do you people watching the show now make money on this if they want to make money on it. >> the key is to wait or you can just buy ebay right now. i love this proposal because ebay the marketplace is still profitable last quarter grew 12 percent. so the auction site is not dying. what i love though -- >> charles: would you own ebay once paypal was spun out of it. >> if i had to choose, i would go to paypal which had 39 percent increa

carl icahn makes some money at tropicana. --borgata makes a lot of money. to go in there and repurpose those buildings as gaming is starting to shrink in atlantic city, they have to replace it with other attractions. they are not going to ac. you can have 1400 rooms or 100 million rooms, what does atlantic city need to do to get bodies there? is very aware of what's going on. governor christie has taken charge of the situation. there was a difficult political environment in atlantic city. he has new energy -- the new has energy. a real estate developer who is very savvy -- it is not going to be a quick fix. i completely understand your question. it's not a matter of one answer or flipping a switch. they need to reinvent themselves. the whole gaming industry has changed from a monopoly to a duopoly in the east. you have casinos all over. atlantic city is going critical time. -- going through a difficult time. it's been counted out before, but atlantic city will survive. it will come back in a different way. >> another one threatening to come back has been do

. ♪ >> hurts announced a deal with carl icahn to appoint three new board members.hey want to find a permanent ceo to replace the one who resigned. plan of president obama is dividing congress a member of his own party over the best course of action. one of the contentions points of arming syrian rebels in the fight against the militants. democratic congressman jim himes of connecticut told me what he does not support that plan which he says is art of the tortured logic the white house is using. >> i think we need to really understand what we are getting into when we talk about spending have a billion dollars to support a bunch of people in syria we say we will vet but we don't really know where that goes. our history there has not been terribly good. this is the kind of conversation when he to have on the floor of the congress. >> joining me now is a member of the key budget and armed congressmanmittee, scott rigell of virginia and still with me is former new york .ave and are george pataki you say you think the president is doing everything above board on this. wo

why is carl icahn in inside baseball? >> he is an investor from way back.ook at some of the , whenies that he buys they have broken down, when the other investors are prepared to give them a. >> forget about deep value. how do you avoid the classic value trap? >> i do something you can only tell sometimes after the fact. if you are buying deep enough , good things happen to those businesses, good things happen to those companies after a while. they attract upside. youhe balance sheet gives time to give a behavioral courage to right the ship. >> here is my question, tobias. mean reversion. >> mean religion. >> mean reversion. define mean reversion. >> it is the idea that you revert to the mean. >> what is your measurement tool? is it a price to earnings? is it gross? thatis the actual number you are looking at? >> the metric i favor is the acquirers multiple. it is a less common name for the enterprise multiple that examines the business cash, adding back in the debt, and looking at operating earnings. finance in a leveraged buyout. big firms thator can take

. >>> let's talk mcdonald's now getting a pop on rumors that a large investor, perhaps carl icahn, may have taken a stake in the company. it does sort of set up like an olive gardenesque type of thing. >> this would be a lot for carl -- maybe, who knows. all i do know is, we've talked about when the stock hit $92.50, $93, we talked about all the bad news probably be priced in. yes, comps are lousy. on valuation it is probably the cheapest in the space, a lot cheaper than wendy's and burger king. western european comps have been awful. they can only get better from here. at the current valuation i think it made a lot of sense. we did it beyond the trader. remember that? we gave you levels to get in, the levels to get out and the level to double up. we're right at that double up level. i think mcdonald's goes higher. >> weekly options at 2:30 before all this carl icahn and everything else, extremely active. people bought, bought, bought, $30 all t3 30 cents up to 70 cents, by the time they got out, it was trading up to $2. crazy. >>> we give you the trade on two big-cap banks who would s

>> i can only tell you as of last night, i know this because of sources close to carl icahn. melissa: there was rumor he sold and stock tanked. you came in. >> the other rumor he bought put options because he was preparing to blow out of his position and make money on the downside. what we know, neither of those facts are true as of now. now, to be honest, the one that is really preposterous the fact that he sold the shares. he is on the board of directors, that would be like, he would have file stuff, it would be very crazy for him to do that. he would have to relinquish his board seats. that was kind of absurd but the put option part was plausible but engen, what we know as of last night. why do i hedge this? because i don't know what he will do in the future. markets change. as of last night, that did not happen. >> you turned it around and some other ripoff financial network had to give you credit for that. >> our competitor. >> i'm going to say one thing. melissa: uh-oh. >> cnbc gave us credit. melissa: i don't like that name. >> that ace good thing. they did the honorab

carl icahn is likely an insider here. he probably can't sell stock.ven if he did, if he sold more than 1%, we'd have to see it. so it just doesn't make sense. highly likely to be baloney. >> tata motors. upgrade from credit suisse. >> i think this as an opportunity to sell on a position i have had for a long time. they've done a great job of outperforming their peers. their move and the move of india is overdone. i think the dollar strength is also ahead wind for these guys. take some profits. >> for finish line down 40%. downgraded to equal weight. >> kept the price target at $34 a share. went to equal weight. this was not the downgrade that people oftentimes would say wow, they're really ganging up on the stock. they're not. they think maybe they are losing a little bit of the share. i think if i put a gun to my head right now i'd rather be in footlocker than finish line. >> a german daredevil has set the world record for the longest high line walk, 735 feet. the record setting stroll occurred 656 feet above a dam in switzerland. james bond fans may

carl icahn, telling them he would force them to do just that. of look how all indices are looking. as i mentioned 10 men's ago, the dow jones had a plus sign next to it. now it has a negative sign. not a significant downward turn. again, exemplifies the up and down roller coaster quality of the day. the thing to focus on beside oil, is russell 2000. we're looking at small and mid-sized caps, talking how they are going down much further than the rest of the market. today is a perfect indicator of that down, almost 1 1/2%. a lot to talk about. we have robert hiller, nobel prize-winning economist to talk about housing in a moment. "after the bell" starts right now. liz: if you don't have whiplash, stay with us. we break down today's back and forth action. robert kiefer from jensen investment. he is here to tell us why he thinks the market is in state of transition. we'll ask him, what happens after the state of transition? schaefer's research, joe bell, to talk about hurdles and short term hurdles, why they are not keeping him out of the market. larry shover in pits of cme. dying to k

we explain when ♪ >> billionaire icahn looking making a bid to save the trump taj mahal. letter said he would consider bailing out the casino if the debt he had in its would converted to equity giving his ownership. and he wants them to reduce taxes and for the union to giving up pension and health insurance. saying the casino losing $7 million a month. executives think they will run out of money by december. >>> workers gathered in center city to call for an increase in the minimum wage. >> no pay is not ok. [chanting] >> one of ten rallies in the state today. organizers marched to the governor's office. supporters of the increase say those living on annual age earn an income below the poverty line for a family of two. >>> and much more to come on "action news at 5:00" tonight. looking live at penns landing. and cecily tynan standing by to see what our monday night looks like when we come right back. >> time for accuweather at the "action news" big board. meteorologist cecily tynan standing by. what a wonderful weekend. >> oh, my. >> can we keep the streak going though?

after-hours our own charlie gasparino reported that carl icahn didn't in fact sell any shares.at happened? after the losses yesterday, the stock turned around, made a comeback. it was up nearly 10% today. so recouped almost all of the losses. still down about 1.6% for the week. however, what a big turn around and what volatility. certain le a stock you can continue to watch. david: even our competitors were crediting charlie gasparino turning that stock around. liz: they had to. they had to. s&p futures are closing in 29 seconds. let's head back to larry shover in the pits of cme to watch the action. >> traders realize the path of least resistance is 1950 to 1985 zone. until we get quarter three earnings season fastly approaching we'll see if the growth momentum continues and cyclical momentum continues. traders also recognize that the narrative has not shifted even in the last 48 hours. u.s. growth is good. china is still on track for 7.3 are to 7.5gdp growth. your rap, yeah, growth is very pep ted to say the least. pmi is still in expansionary road. the fed, back and forth, h

and that was the plan that i articulated as the ceo when we were facing a fight with carl icahn. our strategic review this year in 2014 showed something different. now, why it is that they saw something different this year, karen, than last year and suddenly it perceived all these changes in payments in particular, i can't fully answer for you. >> all right. dave, we're going to have to leave it there. thank you so much. >> you're welcome. >> great interview with john donahoe. what do you think? >> i think it's the apple news. i think that's what it was. i think that was -- >> i would think as well. >> alibaba. there have been a lot of things that have changed that gives them enough room for cover. >> i think it's a google approach. >> meaning google has approached them saying we might be interested in the pay pal? >> yes. although i thought, if i heard it correctly, david said that didn't happen. maybe it waent a formal approach. it certainly -- there is a big question mark. how did they do this 180 and everything that was wrong with it before is what's great about it now. >> ri

brett icahn scrapping plans to start his own hedge fund.s son for some of his best stock picks in the past including netflix. >>> is cash king again? moving into money market funds. the people are pulling out of domestic equity funds while also buying stocks overseas. again the futures this morning have been indicated relatively flat. we'll see what happens as we get retail sales and some other data as we move towards the opening of trading. >>> the line from the kenny rogers song is you've got to know when to hold them and when to fold them. selling her top-performing stock. sara malek joins us now with more. you had joined us with three picks back on may 30th. our viewers follow you closely, some of you try to mirror what you're doing. you are swapping your top pick. the largest return up 30% since then. disney is up 7%. and your last pick marriott is up 18%. but today you're sticking with disney and marriott and rolling gilead to the side. >> we are. >> and you're taking honeywell. >> we are. we still like gilead over the long run and th

karl icahn is the seventh-largest holder, you had a brewing, and he's been quiet about this.has had a hot hand. family dollar, gets involved, they get sold. they're in bidding wars. but that's another story. this price action, declined they were talking to google, the stock came in a couple percent and closed up 3%. that's bullish given the fact they declined that they were talking to google. let's look at this, this is ebay versus the nasdaq. it's a massive underperformer. this is a company that's actually growing at double digits sales growth. it's a cheap stock and well-run. and obviously they have shareholders that want to see them unlock shareholder value. i bought the stock, didn't do anything in the options market. why did i buy the stock, what am i looking at here? google, they were rumored. but let's say, google is interested, microsoft has to be interested. think about it, we're talking about what apple is doing, the big announcement with apple pay. they are going to have apple pay buttons in app, but throughout the mobile web. and google is a big player, and facebo

the bank in charge of china's alibaba's ipo, and billionaire carl icahn dumped his entire stake of family dollar stores and profited a cool $200 million. bloomberg is back at bloomberg. the billionaire, former mayor of new york city, returns to the company that made him the 15th richest man on the planet according to forbes. the wall street journal says france is threatening delivery of a warship to russia's navy. the change of heart stems from the situation in ukraine. aaa expects gas prices to drop this fall suggesting another 10 to 20 cents per gallon nationwide happens by november. fill her up. home depot is hiring two firms to invest gait the breach, and it's not clear how unusual the activity was, but they are offering free id protection services to people who may have been affected. later today, fast food workers across the country are expected to walk off the job. it's part of the campaign aimed at increasing minimum wage to $15 an hour. mcdonalds, wendys, burger king, and kfc are among those affected. >> okay, folks, that is a stadium roof at the vietnam open crashing down. there

. >>> 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

investors reacted positively to the plan sending shares going way up today, none more pleased than carl icahn, the investor who first proposed a spin-off back in february. in a statement today he praised ebay's change of course calling it a no-brainer that will enhance values for shareholders, a sentiment voiced by another active shareholder and analyst, saying this will allow pay pal to be better evaluated. >> it will compete directly with apple pay, we recently downgraded it. google wall will be more of a competitor next year. i think the one element that opens up is the concept that alibaba could purchase the marketplace. >> but challenges do remain, on both businesses they face steep competition, from brick and mortar retailers and financial service companies like american express. however, two stand-alone companies will allow investors to better assess those risks. for "nightly business report," i'm morgan brennan at the nasdaq in new york city. >>> ebay's decision to split off a pay pal is creating a lot of buzz in the payments world increasingly populated by companies promising to make

. >> billionaire carl icahn is demanding tax incentives as he considers spending $100 million to saveaj mahal from closing. mayor don guardian says the city's finances are too stressed to agree to the massive tax rollbacks. >>> it's going to be a big day at philadelphia international airport. let me tell you why. officials say a major low fare airline will announce it is expanding in philadelphia with flights serving seven u.s. cities. the airline will be revealed at 8:00 a.m. we have no idea which one it is. going have to wait. >>> turning to wall street, stocks slid on monday on concerns about the political unrest in china but we could see a rebound at the opening bell. u.s. futures are trading higher. >>> first the selfie, now the shapey. get this. a company called r tech is producing 3-d body scanning booths that capture everything about your physical appearance from your smile to your clothing, it's 3-d. customers can then order 3-d statues of themselves. the only booth in the u.s. right now is in jacksonville, florida. erin, back to you. nice housewarming gift. >> i may order on

. -- 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

do is put together the absence of archaeology and evolution that if you put all of these together, icahn uc a path in motion? very often they're very surprising. this long-term history leads to a surprising and slightly uncomfortable conclusions. i suggest this song got the answer partly wrong it is not true absolutely nothing also suggest that a lot of the people that are interested in ending war war, the day go about it in the wrong way. it is the paradoxical claim to make. it is one of the major forces to make the world a safer place. i am not the first person but back in 1932 the league of nations can up with an idea let's write a letter to einstein to say we would like you to ask this person they're really important question. please feel free to get into a fight. why should i to -- and to? i will write to sigmund freud. is there any way to deliver humanity? enfilade rights back clear they did is not over expecting to get. the are some exhibits at the moment but freud writes back and says paradoxical as it sounds we must admit the welfare may pave the way to the unbroken peace we so

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 company's fourth quarter earnings in line with the profit outlook for the year disappointed investors and that's why the stock fell 2 1/2% to 43.39. >>> legal trouble for drugmakers advi and telepharmaceuticals. they're being ruse siouxed for illegally testing androgel from getting to market. shares off a fraction. teva up 1%