i'm talking about carl icahn. basically frighten some people into taking profits by using an analogy to the beginning of when stock prices were about to be cut in half. >> i'm very concerned about the market. and i think the market is overheated. especially the high yield market. and it's sort of a fair term because i think the public is walking in as they began in '07. >> '07. hate to mention that. i was in the dentist's chair when his program was on. i got drilled not once but twice. first by the dentist, then by icahn. you can see the pillars of the market tumble down around you. i was waiting for my deptntist to ask me, is it safe? to which i would have applied, no at least not according to icahn. i would have answered anything the dentist wanted to to end that pain. icahn was a bit difficult to understand. only because it was so wide ranging. it was actually a celebratory one-time victory lap for his multi-billion-dollar wind fall in netflix. a trade, by the way, which icahn shared with the world, so you can'

we find out that icahn has closed out his entire position.t's got to be a big bull's worst nightmare. >> look i think the reality is people have made a lot of money. they're not too many stocks that are up 100% year to date. this has been a pretty sharp rocket ship over the course of the last year. look, what's happening is tv viewing is shifting. if you look at the numbers nielson reported this week, you're looking at a mid teens drop in viewing of tv among 18-24. high single-digit among people 25-34. there's something fundamentally shifting. skurnls are shifting their viewing to streaming and netflix is winning that battle. >> if karl psychen looks at the stock and sees this incredible run and says it's time to cash out -- doesn't that push back against a lot of the fundamentals of this story? >> there's always buyers and sellers, think the reality is, there's plenty of people just buying in now. if you look at what netflix' opportunity is remember this is only a $40 billion company. i say that not jokingly. the reality is when you look at

icahn is alluding to. it's a much, much cheaper stock and we know they have the content and they've consistently done it. i'm not sure "orange is the new black" resonates in china the way a lost time warner stuff does. >> how many millennials do you know that actually have cable in their house now? >> that's the point, david. they've knocked out the hbo go and the now and all this sort of stuff. this is where the competition's going to be. i think you go time warner, you do not buy carl icahn's scraps at the high. >> carl icahn's scraps. ouch. he was saying that apple is where netflix was a couple of years ago. what do you think, guys? >> i don't think there are any no-brainer trades, number one. i'd be shocked if mr. icahn not only rang the bell on the bottom but rang the bell on the top. i will say this, though. the price action today was disappointing, trade four, five times the normal volume, had the reversal. i still think it's very hard to replicate netflix. i do think there's competition coming. it

icahn tweeted, sold the last of our netflix today.ly represents the same opportunity we saw in netflix years ago. for more joining us on the phone is david miller an analyst with topeka capital markets. david good morning to you. >> thanks for having me, good morning. >> not everybody got in at 60 the way carl did. is this a cautionary note? >> well first of all with carl, i mean just a great trade by carl. i think it proves that that any time that mr. icahn gets into a stock it's not necessarily for activist flavor. i don't recall there was any activist position that he ever took in netflix. or why would he? i believe if memory serves, he got in around 82, 85, somewhere in there, somewhere within that range, a great trade by carl all the way around. he's to be congratulated. >> the knock on him is not that he knew it was going to be a great company or great investment. he knew that people were getting hot on it and maybe he would take it for a ride. maybe longer than he expected. is that fair? >> i think it's generally fair. folks go

icahn sounded? >> i certainly do on the equity side. we need to flush out the weak hands and the bubble boys and we should get it during earnings. but on the high yield side i don't agree with him. i don't think we have a big maturity rollover for at least two years and i think that high yield with the higher income is a much better bet than u.s. treasuries, the 10 or the 30 which i think is on the eve of destruction. >> eve of destruction? my goodness, me, you can't just make a statement like that and not explain, chris. >> let's explain it. you're already down 11% to 14% depending upon exactly which one you own. if you invested at the end of january. that's really tough. that's going to take people two or three years to make back that amount of money in the income the bond has. i think the same thing is true when you look at utilities and reits and other interest sensitive areas. when you say destruction, i mean going back to normal levels. for that for at least in the 10-year we might get up to 2.8% or thereabouts but i don't think w

carl icahn.ould he be tempted, remotely tempted, kind of tempted, now and then tempted to drop l.a. to become treasury secretary of the united states? latest read from trish regan, probably not. carl icahn as well. after this. you probably know xerox as the company that's all about printing. but did you know we also support hospitals using electronic health records for more than 30 million patients? or that our software helps over 20 million smartphone users remotely configure e-mail every month? or how about processing nearly $5 billion in electronic toll payments a year? in fact, today's xerox is working in surprising ways to help companies simplify the way work gets done and life gets lived. with xerox, you're ready for real business. and life gets lived. the driver-assist systems.gent it recognizes pedestrians and alerts you. warns you about incoming cross-traffic. cameras and radar detect dangers you don't. and it can even stop by itself. so in this crash test, one thing's missing: a crash.

well carl icahn kark out of netflix.de that could signal the top might be in for the stocks. plus stocks may have ended lower today but we have uncovered a secret indicator that says now could be a good time

icahn with massive gains on the sale of regulatory filings. he became one of the larger shareholders during the third quarter of 2012. they rocketed during that time. icahn says it isn't quite the bargain and listen 2012. he bought the shares around $58. yesterday it was announced $700. we know what the big investment in apple and we've watched apple searching. >> thank you so much, nicole. let's get you caught up in global markets in asia. stocks finishing mostly lower at midday. lucy pull back from the 1996 the nikkei down half of a percent. in europe you see weakness. the markets right now being driven by what happens with greece and its talks with creditors. in the united states a bounce back and futures after the selloff yesterday. the claims at 8:30 a.m. eastern time. how did the markets move it to get those decisions from the supreme court today. the manhunt for two escaped prisoners in upstate new york. a corrections officer at the maximum-security prison has been arrested. david lee miller is a live with the latest. >> jean palmer is

we want to find out more from this exit of carl icahn.ory: the time he got involved with netflix was a different business. it was mailing dvds. scarlet: read endless. cory: it was going to that transition. he held the stock at a time when a lot of the big cost of netflix had yet to hit the income statement there. their commitments and contingencies where they promised to buy a lot of content -- they do not put a lot of cost of obligation on their balance sheet. those costs have yet to the company and we do not know how quite big they're going to be the cause we have to see how much of this stuff is a wash. scarlet: was carl icahn a very active shareholder or did he stay in the back ground? cory: this is not the carl icahn of getting very involved. this indeed may have been much more of his sons investment in karcarl's. pimm: instagram versus twitter versus facebook. tell us what instagram is. an app.stagram is pimm: posting pictures on that people can be. co: you can follow things that people look at and exported they will discover things

icahn? is the market overheated?e conversation and get in touch with us at worldwide cnbc.com. >> joining us to discuss is pm and head of global equities at henderson global investors. do you agree with mr. carl icahn? he's not the only investor to point out challenges in the high yield market. in general what do you think is driving this interest in high yield? is it monetary policy underpinned by lower interest rates? >> it might be that simple. we are in an environment where everyone is chasing high yield. there is an attraction there that you can't get elsewhere. especially in a world where bond yield versus been compressed so dramatically and of course the equity market having risen substantially, even the dividend yield on equity markets globally are also not what they used to be. it's natural they attracted a lot of attention. if you remember when we had the markets sell off on the back of last year it was a big focus given how important the energy sector has become as part of that index. it may not be truly c

and carl icahn in the process of acquiring the casino.d workers are concerned about rosing their pension and benefits. >> the workers say their livelihood is at stake and why we saw the passionate response and them also using their emotions and tensions are running high. this isn't the first time the ka season work-- casino workers have taken to the streets literally. >> with drums, horns and whistles, casino employees caloried outside of the taj mahal to protest what they call an unfair work environment. their chants and demonstrations aimed squarely at the casino owner carl icahn. >> the message we are trying to get to him is quit messing up our lives. >> the largest union representing workers in atlantic city. employees are upset after abruptcy court approached a measure to cut the benefits of 1,000 employees. carl icahn requested those cuts in exchange for investing in the taj mahal and keeping a business open at a time when casinos were closing left and right. >> and taken about $17,500 away from me a year including my health care an

icahn is out of netflix.e sold the last of his estate today and believes apple represents the same opportunity netflix offered years ago. they are at their best levels after the company declared a 7-1 stock split. it has more than doubled and is trading at record highs. against thecklash confederate flag reached alabama. the flags were ordered to be taken down from the state capital. nikki haley said the flag should be moved from the state capital. announced it will end the licensing of toys from the 1980's hit tv show the dukes of hazard that bear the confederate five. scarlet: ford is helping owners -- theyodels rants out following six months of data gathering. here is exactly how the program will work. basiswill offer on a test to 12,000 customers in london. for the customers that actually finance the vehicles through ford credit, working for a company here in the u.s. and car club in london, customers will be able to rent vehicles out to earn money like pay their car payment, or earn a few extra dollars.

icahn says the pension fund is critically underfunded. he plans to eliminate health insurance and pension coverage. >>> also a big sports announcement atlantic city will host teams 16 next year the world's biggest gathering of sports event organizers. officials say it will draw hundreds of people and generate millions of dollars for the struggling resort city. the event will be held in september 2016 at the new harrah's waterfront conference center. >>> hotter temperatures bringing in a possible heat wave. how long it will stay in the 90s before rain returns. >>> anything you want to say. >> no comment. >> this montgomery county mom confesses to having sex with a teenager. tonight we're asking why she won't spend a day in jail. >>> plus a gunman holds up a customer leaving a local casino. the hunt police are on to find who's hiding in the parking lot. >>> a montgomery county mom who admitted she had an inappropriate sexual relationship with her daughter's classmate will not have to serve any jail time. today a judge sentenced iris gibney

this is not at all what carl icahn was doing this for.etty: instagram is setting its sights on twitter. cory: facebook is at an all-time high. it is not a coincidence. facebook is owned by since 2012 and is growing fantastically. it has over 300 million users who post 70 million pictures every day. betty: you do, i know. cory: market so excited about selfies onset. pictures, most of them posted by stephanie ruhle. people are talking about the places that they are at. they are trying to use the export button to find better ways to have people to communicate where they are and communicate what they are doing. the: but if you make comparison, we have been talking about twitter for the past couple of days and people have been talking about what is wrong there. cory: twitter is an interesting way to communicate. picture is better and a little bit of video is better than text and evil will like to communicate that way. they are trying to give a sense places with the explorer button. betty: this is what is going to be hard. people use instagram

carl icahn has gotten out of netflix. he sold the last of his netflix today. aiken: netflix is a great company, but i have been a a battle hardened veteran of seven bear markets. there comes a time when you make your 500% on your money, you take your tips off the table. carl talked a lot about

they want to send a message to carl icahn.ed greenberg joins us live with the message and the protesters. ted? >> reporter: since we last talked with you at 5:30 the protest has moved from here to the board walk. you have two groups of taj mahal employees and fellow union members. this group came from states around, around the taj mahal, made their way on to the streets and this is where they are. we are told by organizers of this rally, united 54 the largest casino union in atlantic city 70 union members are going to take part in an act of civil disobedience here by blocking virginia and pennsylvania avenue. they will be blocking the entrance to trump taj mahal. carl icahn is the main lender of the taj mahal's parent company. he's set to take over the casino once it emerges from bankruptcy. the main argument here that we've been telling you about since the fall a

icahn if i remember, wanted to get out earlier. his son convinced him to stay.ve this is the investment where he had in this -- convinced them to stay in. he said, ok, you are right. trading at a record as they seven-for-one split. scarlet: i have listened to you long enough and now i will do what i want. he has another comment where he says apple is representing the same opportunity as netflix years ago. julie: fascinating given the relative size and maturity of those companies. scarlet: and the amount of money that each makes. apple is a cash generator while netflix has $10 million in production expenses over the next couple of years. something to keep an eye on. right now, netflix shares trading at a record high although paring its advance on the headlines that carl icahn will exit his state. the force will be with disney this year. morgan stanley predicting the newest "star wars" film will be the third highest grossing movie of all time and will generate $1 billion for the disney bottom line. the managing director at morgan stanley wrote the report and is wi

billionaire investor icahn has sold his shares of netflix.tter toto take to make his announcement that he is finished with the shares. he believesbeing -- apple currently represents the same opportunity. he has some 53t million shares in apple. investors are watching that one. imo jesus are the big buzz in social media with chevrolet announcing a press statement in emojis. saying words alone cannot express the chevrolet cruz. all-new 2016 cruz blends innovative technology, striking design, and so on and so on. these words for stylish, words for sporty. people have been commenting on that. do they get points for creativity? anne: can you decoded aegon? it?an you decoded jakartawe are live in when we return. ♪ yvonne: the top stories trending this hour. asia stocks are falling, global equities lower as the greek standoff goes on in brussels. says creditors will resume negotiations later today after late-night discussions made no progress. the sticking points remain changes to pensions and sales taxes and demands for debt relief. president obama

the cuts sought by billionaire carl icahn to keep the casino open is coming at a time when the resort city is suffering as revenues continue to drop and casinos continue to close. "action news" is live on the scene. >> the residential building boom is continuing to build unprecedented steam they broke ground today on 1 riverside overlooking the schuylkill river. john rawlins has the story. >> reporter: it's just a construction site now but a tall, thin, glass tower called 1 riverside near spruce and locust with high end kitchens and luxury amenities. one bedrooms start at $685 and people are in their 50s, 60s or 70s and have a big home on the main line in pennsylvania or knowledge. and alyssa is trading a long ride from the suburbs to a short walk to work. >> it's different and different is not bad. >> an old warehouse son, they developed housing here more than 20 years ago he credited the wildly popular schuylkill banks park where people will spend big to live. >> we see modest amounts of infrastructure making big invest manies it has probably gone up tenfold. >> there was a neighbor

meanwhile critical meeting for greece on monday at carl icahn warning that a bubble is going to be. >oter. past forward as families forgive him in court. did you hear that? >> unbelievable clips from that if you want to stick around for that. one thing that rand paul and donald trump agree on is that a flat tax is the way to go, and they both credit steve "forbes" as greatest champion steve "forbes" is here. coming up. >> let's take a look at the markets right now as we hit closing bell sounding right here on wall street. see the dow there closing out the day down about 95.99 point there. nasdaq down 16, s&p 500 down 11, and looks like we hit that record on russell 2,0001285 hitting new record on russell. >> a record is a record one up arrow on markets, but again while markets wait for tomorrow here's everything you nied to know right now. it all comes down to this. just one chance left for greece as european leaders warn that time is running out for a deal. and that the time for games is over. it all comes down to monday's emergency summit earlier, the struggling eurozone member gran

he members of local 54 showed up at icahn's new york city offices today. they delivered a letter saying the casino's benefit cuts are not okay. >>> next on nbc 10 news at 6:00 a local mom caught in a teen sex scandal. what she confessed to a judge before receiving her sentence. >>> a break from the heat and humidity for now. but we could see a heat wave by the end of the week. i'm tracking the return of the 90s. and thunderstorms, too. >>> before you buy your next carton of eggs the humane society wants you to see this video. what they found during an undercover investigation at a pennsylvania producer. and what that farm has to say about it. here's to the explorers. those diagnosed with cancer who didn't settle for just one opinion on their diagnosis or recommended treatment plan they explored their options. and discovered a new level of empowerment. at cancer treatment centers of america in philadelphia, that's what we do-empower our patients with a comprehensive second opinion. and because time is of the essence, we do it a single one day. explore your

the green light was given for carl icahn to buy the taj.nion workers gathered today to protest his acquisition of the casino. demonstrators are upset over the proposed elimination of pension benefits. but he may have to close the casino. a ruling is expected any day now. icahn also owns tropicana. >>> temperatures feeling like near 100 degrees with the chance of our first heat wave. how long the hot weather will last before more storms. >>> very significant hit. >> a record heroin bust taking 22 pounds worth more than $3 million off philadelphia streets. the three-month investigation that paid off. >>> it was only me. >> he saved lives on the ground and now in the air. the midair rescue for a retiring philly paramedic. >>> and we continue to follow breaking news in the chestnut hill area of philadelphia. a possible abduction of a teenage girl reported missing tonight. huh, fifteen minutes could save you fifteen percent or more on car insurance. everybody knows that. well, did you know genies can be really literal? no. what is your wish? no.

a drop for netflix down 2%. >> another downgrade today after carl icahn comes out. camp you take your profits on this one. again, this is similar to the biotech biotech. too much competition. >> mobile i up 4%. >> the auto space is headed these guys dominate. huge evaluation. i get it. clsa initiated a 15% short interest. feels like the stock can get there. >> a and a drop for avis budget down 5%. >> a stock that's in free fall at this point. pricing power and credit for the downgrade today, not a stock you jump into even though people are pricing more power than they have. >> a drop for bed bath and beyond, down 2%. >> they gave bad guidance, stock down 4%. now 52-week low. the stock actually recovered a bit here and kind of found footing, which is very very necessary here. 70 is going to be a big technical resistance level. i think you sell it on that if you're a trader and 65 to the downside target but you want to keep a tight 70 stop on the upside. >> still ahead, nike moving higher after its report. we'll hear from the ceo on what drove the quarter right after

happening today, billionaire investor carl icahn will find out if he's approved to own the ta taj maall casino. it was set to close last year, but icahn stepped in put up millions of dollars to keep the casino open through bankruptcy proceedings. he says though he plans to eliminate health and pension coverage for workers. that's been a bone of contention there. yesterday, members of the local 54 union went to the manhattan office and delivered a letter saying benefit cuts are not okay. >>> a judge has ruled that the town of paulsboro cannot sue for damage to the reputation following that derailment. the judge on monday threw out the town's claim that conrail owed damage to business owners for the negative media coverage. that's just a portion of the lawsuit. the judge did allow a separate lawsuit from the school district to move forward. the november 2012 accident sent vinyl chloride into the air. >>> 4:39 69 degrees, and we've got a nice day ahead. a nice and warm, just like yesterday. starting off at 66 degrees, actually, a little cooler than yesterday at this time in northeast ph

carl icahn holds 53 million apple shares, currently worth $7 billion. southeast asia's largest market is counting trade last year. put $700,000 into an education fund to improve systems after two trading breakdowns in a month. guard against rates until the fixes are clear. china looking to expand credit supply as it tries to revive economic growth. they have proposed amending the law that caps commercial lending at 25%. to changes aimed at stimulating lending and giving the banking industry more room to manage liabilities. president obama has clear the last hurdle in the pacific trade bill. stephen engle has been following arguments. after years of wrangling, the senate finally approving the bill? stephen: this is an amazing step forward. if you look at the voting structure, republicans came out in favor of this. i will not get into the different gyrations, but this bill gives the president fast-track authority on agreements. it,cally, once he signs president obama, all he has to do, when he sends trade agreements to congress, it is basically a yes or n

plus we've been talking about carl icahn all this morning.break bb here are the futures right now. dow would open 80 points higher. we are back in a moment. [ screaming ] rate suckers! [ bell dinging ] your car insurance goes up because of their bad driving. people try all sorts of ways to get rid of them. [ driver panting ] if you're sick of paying more than your fair share... [ screams ] get snapshot from progressive, and see just how much your good driving could save you. >>> we are squawking about everything from sports to silicon valley with your next guest taking his talents from the hard court to the tech world looking to disrupt the fashion business. nba champion and finals most valuable player andre iguodala. congratulations to the warriors to you, to your teammates. long deserved. >> thank you. >> i don't know where to start on this except how has your life changed now that you've won an mvp at an nba finals? >> i'm getting a lot of texts. there's about 360 texts from after the finals. >> how many of those people did you know? >> ab

could we see treasury secretary carl icahn, not so fast.sed he would make me the secretary of treasury. i'm flattered, but do not get up early enough in the morning to accept this opportunity. he went on to say i believe we're sailing in dangerous, uncharted waters, never in the history of the fed have interest rates been art officially held down for so long -- artificially held down for so long. >> i was surprised he was up early enough to tweet this. >> maybe he wrote it last night and had someone send it. >> maybe he would be more of a secretary of state. i mean the diplomacy of icahn, can you imagine what that would do for america's relationships? >> and the amount which trump nofs the nomination. >>> let's gets over to wopner and the half. ♪ ♪ >>> welcome to the "halftime report." jimt lebenthal sheer along with stephanie link, josh brown, jon najarian and our guest today, tobias lebkovich. and investor hardeep walia is here with more. >>> and ipo fest cal. our experts size up the stocks and debate whether you should buy

and, neil, gary, not just trump and icahn.nsive market right now and we have a slug dish. >> they've have been saying it for years. >> exactly. i would take issue. you're talking about the ipo market like it's 1999. other than fitbit which was up 50% in the first day don't see the froth in this mark at all. talking about beyond that, i don't see it. >> i don't think you have the gross speculation but gary this market is not cheap. you're roughly 17, 18 times earning. that's not an inexpensive market. >> what is it normally. 13 to 14 in not that excessive is it? >> you're above your -- we have been three years without any kind of a meaningful correction. at a minimum this market is a bit long in the tooth which should give you some pause when you have billionaires -- >> whose what both of the gentlemen are saying. interest rates go up. they're taking the juice that has juiced this away, and that is going to be the comeuppance. >> what is interesting is we talk about icahn's own holdings. he owns apple and apple has been buying

david: do you agree or disagree with icahn on that? >> i agree. the thing is, you have, you have a market that is climbing this wall of worry in the face of a u.s. fed that is really trying to convince the markets that there is going to be interest rate rises happening. david: it didn't climb that wall today at all. and, kimberly, the fact we got revised figures on the gdp. yes, it was a little improved but still was down significantly. look at stocks like walmart and other retail stocks. let's focus on walmart. the past six months that stock is down well over 20%. that seems to be more than just about the weather. >> i'm not sure about what the revision is due to but it could be more the weather and port issues in california but i think looking forward, david, we're looking more of 2 1/2 to 3% gdp in the next quarter and here's a good reason why. a part of that is the consumer spending. we're looking at, you know, wage growth. we're looking at the market is still good. we're still looking at cheap gas prices and housing starts really turned aroun

carl icahn sold the last of his netflix stake today.e opportunity netflix offered years ago. the cloud computing storage is teaming up with big blue to go after large corporate customers. clients will now be able to store content in ibm's cloud. >> the future of the enterprise will be this mix of technologies. bring a content management and collaboration in ibm is being .redible and powerful analytics as well as workflow. when you bring those two technologies together, -- >> advanced analytics, we can bring together using ibm's clout and data strategy, more secure using our intelligence capabilities, engaging applications that really went from the edge where people cap content, all the way to a people are using more mature business opportunities. alix: they also established partnerships with apple and twitter. think twice about some of those e-mails you send. feature gives people 30 seconds to not send it. coming up, on the bloomberg market day, auto sales surging to near record levels. while that is great for hasmakers, clad sharing se

. >> you seem to agree with carl icahn that the markets are overheated here? >> i'm starting to see signs of disturbing behavior in some of the underlying things i watch in the equity markets. divergence of transports against the dow. that's been going on for months. i usually don't hang my hat just on that but then now we are starting to see the breadth of the new york stock exchange advance/decline line rolling over. those are good signals that the market needs to stop and pause to digest some of the supply we've gotten. and bob pisani's comments about the two successful ipos and the other six that didn't do as well. >> his argument it would only be if you had everybody hitting the tape popping 50% day one you would think we are in an overvalued market. these are struggling to get off the ground. >> there is a difference between valuation and market timing. markets become overvalued and get more overvalued. we are in a bull market. valuations are high. that isn't enough to stop and advance. which are probably still in good shape. near term it's feeling too f

things, one day after carl icahn was negative. it was one of these things where we are uncomfortable with the valuations but it still might go out. slow down a little bit. alix: what happens when you have these momentum players take a break? they have been leading stocks higher. what happens? >> we did a study this year on what happens when you get to an all-time high, when the market is making those new highs. the results are pretty good. the odds of making another high are 91%. that momentum tends to continue. it is a reflection of the economy. .e sense pessimism there is a fundamental drive for the equity market. we think investor should put aside risk about the all-time highs. we think we will see even more. don't get scared of investing in all-time highs. to barclays.ntrary barclays is seeing only a 4% gain in global equity from now until the end of the year. seeing the market flat is going to be europe and japan that is going to perform better because of earnings revisions. our forecast is for 5-9% gains for equity market, t

trish regan broke a lot of news with fellow named carl icahn.de a good decision hiring this young lady. tell you, trish, news breaking left and right. what have you got. trish: we'll see awe little bit back in orlando, "the intelligence report," everyones starts right now. trish: all right. welcome, everyone to "the intelligence report." i'm trish regan. how to replace millions of japanese airbags inside of 34 million vehicles. the issue taking center stage on capitol hill. isis advances grabbing headlines around the globe. is there a looming isis threat that could be carried out in almost invisible silence? we'll have some answers. we'll be joined by decorated war

you have to look at carl icahn. if more respected investors had warned about the market in 2007, we might have avoided the crisis in 2008. the other part was greece. >> another interesting day in greece. there was hope we could get a deal today, but they don't have a deal. the senior people will talk is to the eurogroup. they will reconvene tomorrow. the major players will talk late into the night. alix: the meeting starts at 11:00 p.m. >> the finance minister said that we are showing the world we are serious about a deal. the messages, hard work. they are out working hard on this. alix: we heard a lot from tsipras as well. he said that this odd stance seems to indicate that there is either no interest in an agreement or the special interests are being back. i found that fascinating. what is he alluding to? >> he was insinuating that when they dealt with ireland, portugal, spain, they got a lot more flexibility. this set the tone for the day. there was immediate action across the board when that went out. a decline

but some of it if you were to like google carl icahn, you see it in 2015 14 13 12 11.you know and we had 100% moves throughout that. so the cautionary aspect of this always is out there. it is always valid. >> what was behind it today? >> i'm not 100% sure. it is one of these things you can argue this market will become a coiled spring. this year we have seen the tightest tradeingeing range in 100 years. there has been a sort of intense intensity out there. we have the biggest economic data for this week comes out in the morning retail sales numbers. maybe main street is stepping up to the plate. there is a lot of evidence people are making more money. at this very moment half the audience has thrown tomatoes at the screen. they hate to hear that. there is evidence that it is starting to happen. we have a long way to go before we even reach the kind of incomes people had a couple of years ago. but maybe that inflexion point has come on. there is a sense maybe we averted the worse and what we have from entrepreneurs to inventors to workers, maybe that is coming through.

you have dupont, you have carl icahn with forest labs, it's different from other big pension funds.ow come? chris: we have been an active investor in terms of owning companies, maybe i should say and active ownership capital in terms of being high profile and getting in the news, that has changed for us. by teaming up with different managers and the word i heard was hedge funds, these managers do not hedge in a naked short. they might hedge industry exposure, but we are long managers. alix: even though activists get a bad rap for short-term. chris: there are activist managers that are short-term, but there's degradation of quality or scale. there are white hats and black hats and we think it is that clear to us. there are people willing to short a company and we want people who will be long the company and try to improve it and make it better. take dupont. nelson lost in the proxy vote, but the company is making smarter decision and cutting their corporate waste at the top to be more efficient. alix: take a step back with me and look at the s&p. we are around record levels. growth s

carl icahn is the main lender of the taj mahal's parent company. he's set to take over the casino once it emerges from bankruptcy. the main argument here that we've been telling you about since the fall a cost-cutting move by the parent company. trump entertainment resorts, you see that banner there. the cost-cutting move to eliminate pension benefits for 1,000 trump taj mahal employees. they were expecting 2 thoushs people here. they have their counterparts from new york joining as well. we are expecting those arrests to happen any minute now after they block traffic. there's a large police presence. i've seen the prisoner transport vans show up as we speak. let's hear from a casino worker from ballys who is here, she's planning to get arrested. >> i'm angry, because we make the beds we cook the food we serve the drinks. we enhance the customer's experience. >> they're destroying the lives of their employees, stole their health care, their pension. won't even get them a half hour paid meal break. >> >>. >> we got a statement from trump entertainme

equity firms, hedge funds, people like carl icahn. what do you think of that trend?eth seidenberg: it is so competitive out there that we have to wake up every morning and compete to win and work with the best entrepreneurs. john doerr: there has never been a better time than now to start a new company. emily: but is it great for investors? the markets were not growing it would be bad, but that's not the case. we are in the midst of insurmountable opportunity. emily: so other investors have been a bit more doomsday about , justenario going on saying that there are startups out there that are burning cash -- the cycle ofrg: success and failure goes on all the time, and i think we will see the same thing here. if a company is at too high a valuation and they are raising too much money, that's not going to last forever. john doerr: yes, companies are going to fail, but you can only use -- you can only lose one times your money. invent a valuable new service or product that makes the world better. who bet onare a guy google and amazon early. what do you see out there tha

private equity firms, hedge funds, people like carl icahn.hat do you make of that trend, is it creating more competition for you? beth: it is incredibly competitive out there. we have to wake up every morning and compete to win and work with the best entrepreneurs. john: never been a better time than now to create a company. emily: is it great for investors? john: if the markets were not growing, it would be bad for investors. but that is not the case. we are in the midst of opportunity. emily: so other investors have been a bit more about doomsday about the scenario going on, saying that there are startups out there that are burning cash, burn rates are too high. beth: the cycle of success and failure goes on all the time. we will see the same thing here. is at toony is out -- high of a valuation and that they are raising too much money, that will not last. john: companies will fail, you can only lose one time your money. if you invent a new service or kind of product, that makes the world better. only: john, you put bets google and amazon e

emily: so icahn made a big mistake. chris: he made a big mistake. this is a win or take all game. travis will take all. emily: will there be a downturn? chris: yes. it is inevitable that the funders putting this money to work will not see it all back. emily: are we in a bubble? is the bubble going to pop? chris: there are multiple ways to define that. emily: yes or no? chris: yes, some companies are going to go away. there will be impact for real estate and stuff like that. it will be like the year 2000 where you can't get a u-haul because they are gone all one way out of town, no, i don't think so because this is the epicenter of innovation, just out of whack right now. emily: what you think is the biggest problem in silicon valley that is not being talked about now? chris: there is nobody normal left here anymore. all of the normal, regular people have been priced out. the artists cannot live here anymore. the musicians cannot live here anymore. you don't even meet nurses, or doctors, frankly, who can afford this city. that is messed up. i think the biggest problem here is compu

in billionaire investor carl icahn should be approved to own the taj mahal he is already taking over the parent company trump entertainment. >>> and still to come on "action news" at noon, a hostage situation inside of a pharmacy, and everyone gets out safely how one woman saved herself and her co-workers coming up and a firefighter's response to a crash only to discover his wife and son are the victims, what he did when he realized his family was involved. and meteorologist, david murphy is back with a closer look at the accuweather forecast. woman: i was tired of my chronic constipation and the way it made me feel the discomfort the bloating the straining. i'd just felt this way for too long. so i finally talked to my doctor about my symptoms. i'd tried laxatives before. he prescribed amitiza (lubiprostone) for my chronic constipation. it works differently than laxatives. man: amitiza is clinically shown to help relieve common symptoms like bloating abdominal discomfort hard stools, and straining and help people with chronic constipation go more often. don't take amitiza, if you ha

taj mahal casino the workers are losing their health care and pensions, billionaire investor carl icahn requested the cuts. >> we are sending the message stop messing with our lives and the lives of our families and children. >> he is looking to take $5000 away from me a year, including health care and severance and pension. >> they arrested seven when they refused to leave the street. they said that taj employees do not benefit from this type of conduct. >>> they are getting rid of additional tolls coming into and out of new jersey drivers will no longer stop to pay tolls between bristol and burlington township they must have an easy pass to pay for them, or they are photograph their license plate and a bill will be sent in the mail. >> paying for patco rides got easier for passengers, they are accepting debit and credit card at vending machines for one way and round trip tic it ets, until yesterday the machine only accepted cash for paper tickets. they can buy nine at a time but will expire after three days. more ahead on "action news," including a horrible result for a canadian teen'

citi came out negative, downgrading netflix one day after carl icahn was negative. we are uncomfortable with the valuation, but it still might go up. it is very, like, slow down a little bit. out isnthony, what stood what happens when you have these momentum players take a break. they have been leading stocks higher. what happens? y on whatwe did a stud happens when you get to an all-time high, when the markets slowly making those new highs. the result for most of us are pretty good. the odds of making another high within a month or 91%. over the next six months, it is 98%. that momentum tends to continue. it is a reflection of the economy, but we sense a lot of pessimism on the part of investors. we think that is misplaced. there is a fundamental drive, positive drive for these equity markets. and we think investors should put aside that risk about the all-time highs. we think we will see even more. for those that are scared, dollar cost average in. do not get scared of investing at all-time highs. alix: this is the time to call what we saw from barclays today, bar

. >> carl icahn is buying the casino. he says the union is concerned more about collecting health insurance than it does its members' jobs. >>> a free veterans fare is being held today in east lansdowne, pennsylvania. the fair is scheduled for the east lansdowne borough hall from 11:00 until 2:00. >>> gloucester premium announced the south jerseyshopping outlet with the following stores. it will be located in blackwood. the nearly 380,000 square foot complex will feature a mix of 90 designer and name brands. >>> a delaware house committee is considering proposal to raise income taxes for some people. the current top tax rate is 6.6% for those making $60,000 a year. it would raise the tax hike to 7.1% for families making between $125,000 and $250,000 per year. the tax hike official say would bring in 26.5 million for the next fiscal year and 71 million for the following fiscal year. >>> it's a rainy start this morning. 65 degrees. that is rain coming down in center city. 4:27 is the time. steady rain at this hour but chang