. >> we are going to tell the carl icahns of the world that that greed is not acceptable. >> reporter: icahn now owns the struggling trump taj mahal casino, locked in a issue over the benefit to slash costs. the union had a strong showing here today endorsed sanders. >> it is tragic when you are talking about workers seeing cuts in wages, pensions -- >> bernie, i know that. that's what i came out for. >> reporter: new jersey's june 7th primary is extremely important to his campaign. despite trailing hillary clinton, he told supporters he's fighting on along what he acknowledged is a narrow path. >> it is an uphill fight, but i have been used to uphill fights my entire life. >> he's not going to give up, so i don't think we should give up on him. >> reporter: sanders spoke far less of hillary clinton today than he did the trump and icahn. for him to succeed, he says new jersey needs to have the highest voter turnout in the state's history for a democratic primary. live in our jersey shore bureau in atlantic city, ted greenberg, nbc 10 news. >>> hillary clinton is also coming to campaig

there is no change to what allergan does, but i think that carl icahn with the great timing has comen to place it once this teal is about to close in the next month, and the company with a big influx of cash, and detinue tral, and buying back stock. >> and what does that mean for allergan, and what they will do next from the strategic standpoint, with carl in there? >> well, you know, in is a call that not everybody wants the get, because even though carl icahn is not call ing fing for activist position to be calling for the change of the board, but he is focusing on the shareholder returns, and the smart buybacks, and smart deas.s >> what rating on the stock currently? >> buy rating or the outperform rating on the company. >> and you had that before you found out about this? >> correct. >> and so you anticipate another sort of the deal of size to make up for the fact that pfizer is not? >> well, no, i think that they will continue to do both deals, and they recently announced a big stock buyback, $5 billion stock buyback, and they might do another five or six billion, and they will

alix: two words for you, carl icahn. carl icahn had a 13% stake in cheniere energy.ce did not do good through august. in november, sharif souki got the boot. carl icahn said that sharif souki had harebrained ideas and did not want him running the company anymore. he took a very activist stake in the company. what sharif said he wanted to grow cheniere energy very just on the, not export terminal side, but into oil. he wanted to diversify into oil expert terminals as well. carl icahn wanted to streamline it and make it more of a predictable business at the end of the day. i am pure phrasing there. when i spoke to neil shearer, the interim ceo, he said, the ceo and board run cheniere energy. my interpretation is that carl icahn wasn't and wasn't having day-to-day operational expertise. however, you can imagine that the new ceo of cheniere energy would not get his spot without carl icon approval. near -- they said they are turning it into a predictable business model. not a lot of growth or exposure to any kind of growth or expansion. that thing will utility operational

or do you drink from the found an of carl icahn and that might ruin the apple story? you need to answer these questions. i'm thrilled to be spending some real-time with tim cook, the ceo of apple. not for me to give you the risks or spell out the potential awards but for to you learn about apple and yourself. can you take a short term pain before some long term gain? a successful investor needs to be the story and how long it will take. apple's tim cook is right around the corner. so let's go find out. talk to eva in maryland. >> caller: hello. my teacher asked me what your thoughts on underarmor were. >> this is a classic example of long material versus short material. am i concerned about underarmor now that sports authority is liquidating? that kind of apparel? the answer is, i'm not worried about kevin plank. i think he gets to be able to do great. long term. love it. bits more than just finances. ask yourself what your time frame is. or "mad money." my exclusive with apple's tim cook. 53 million shares from the company. should you follow his lead? do not make a m

icahn decides to throw his weight behind allegan. have they demonstrated enough evidence of a sustained turnaround? politics are front and center again. speaking about donations. why he is raising -- falling behind raising money for his campaign. we are through the trading day. let's get a check of the markets with julie hyman. low volume was a hallmark of trading. we are seeing that again. julie: you get low volume in the summer months. it is about 14% low the average. you can see there is not a lot of movement in terms of one direction or another. the dow is pretty deeply in the red. the s&p is not falling nearly as much. we have this recalibration of what the fed may do. they may raise in june or july. the personal spending data is coming out ahead of estimates. leadingstops have been gains. consumer staples are lagging today. that is a counterbalance that we are seeing. let's check in on the first word news. taylor riggs has more. taylor: president obama is being pressed to speed up efforts to help syrian refugees. the administra

icahn saying these things it is being reported by reuters.ot sure where if it was a one-on interview or something along those lines. of course allergan shares fallen rather sharply with the deal with pfizer fell apart after those changes in the regulations dealing with tax inversions that were aimed specifically at tanking the deal and succeeded in doing so. there is also been concern at least about the upcoming deal to sell generics business to teva. when will it close, expectation is that will be fairly soon. there's mr. icahn, again, his quote saying we're very supportive. oh, he tweeted it. he tweeted it. so that's how carl's letting us know about all these things. and it's also on his website as well, guys. so at this point of course just saying the right things. allergan had come back a bit but certainly suffered as a result of that deal falling apart. in fact, many had expected it would be the beneficiary given it's still inverted, it still has the ability to acquire other companies and do so perhaps with kind of a ring fenced ability

that is still a sizable stake for carl icahn and paypal.very vocal in pushing for ebay to spin off paypal as well. so his stake is still -- joe: good on tech overall. scarlet: and news on george silvers filings as well. let's go pull it up. do we have that right now? ok, i am getting the word from the producer it is under ni heads. only, do you know that company? george is reporting stake in this as well. glty. , sp y and we will continue monitoring these headlines from those filings. "what'd you miss?" we are pointing to economic data in china. china's economy grind down the year in april. industrial production came in at 6%, down from 6.8% in march and missing estimates. retail sales also missing forecast. just over 10%, and -- joe: let's go to the chief strategist with silver crest asset management. he has also served on the american chamber of commerce in china. ? is as good as it gets we have a few months or we are showing react celebration in china? acceleration? we are backing down now. >> it should not be surprising. , the definitio

. >> and does it put you at odds with carl icahn, and what is your take on the chineer? h >> well, the bull case miscategorizes the bear case. the bulls believe that contracts are no good, but we agree with bears that it is money good. and so when he -- >> that is a real thing. >> yes, the problem is that you are simply overpaying for it with no chance at all for crossover runs, and with that, cheniere's cost estimates are too low in the forecast, and having said all that, you are paying a ridiculous price for 2020 or 2021 cash flows relative to almost any other type of energy infrafrauk chstructure p you can buy today. so people are paying up for a wealth income stream which we believe is overstated due to cost estimates and not the reven revenues, but the maintenance cap x on $30 billion of iron and steel in the swamp as we say, is 200 million in the year and that is a 150-year life, and that is a little bit too lo low. and so, if you are putting in more reasonables assumptions, yu can get to the point where you are paying 2x to 3x to 4x what you can buy other energy-t

inyes, warren buffett is with apple but they disagreed with carl icahn.berkshire hathaway revealed a stake of 9.8 million shares in apple worth about $1.1 billion. he typically avoids tech stocks but is making more ventures as of late. 30% since the middle of last year, but lifted and closed 3.7%. last month, icahn said he sold his shares in apple over concerns of their relationship with china. in thehey have confidence company and including the new iphone. a secret for 41 years, u.s. reveals how much debt is owed by saudi arabia -- $116 billion. two years ago, it was $82.8 billion. by request was filed bloomberg news. saudi arabia ranks only among the top 12 foreign nations overall. china has $1.2 trillion and japan with $1.1 trillion. bankts of japan's largest is being squeezed by the doj's negative rate policy. four years, it is inspected to fall 11% for the financial year. that is lower than the average of the analysts forecast. we have seen the number come in at 90. the bank sees negative rates putting pressure on low oil nnd that costs due to -- i f

one of them was carl icahn.tunately for us, because of the volatility of our stock, carl icahn bought low and sold out. we never really got the public exposure that marissa mayer has gotten. i think she started with a tough hand that was dealt to her and quite frankly, she needs to play it out. don't let an activist push you to do something you don't strategically believe in. to the extent that her board supports her, then hang tough. emily: diversity is an issue we have talked about a lot when it comes to the technology industry and the lack thereof when it comes to women and minorities. given how many years you have spent in the industry, where have you seen the most progress and where is there still the most work to be done? >> some of the more established companies have clearly done a better job. older companies like ibm have done a terrific job of at least raising the issue and trying to do something about it. it ultimately comes down to the numbers, not the words. numbers don't necessarily support the word

in the near term, those who have tried to trade it -- >> why would you look at what icahn's doing? he booked a $2 billion profit. >> so i have looked at icahn on the way in, i'm going to look at him on the way out. i'm not going to ignore thinkang carl icahn is doing in any type of transaction in the capital markets. >> you have to put the profit in perspective when you talk about why -- >> i should have a higher degree of concern and higher degree of focus on what buffett's group is doing? i disagree. >> i'm not saying that. i'm saying given the timing of the fact people were assessing really where apple was, the stock had come down, everybody has said it's a value stock, it's so cheap, cheap, cheap. it's nine times this, 11 times this. >> it was cheap at $130. >> why has the stock gone up consistently since the news of the berkshire buy happened? >> because people are focusing on trading the stock. all we heard about was the possible break below $90 which happened. when it broke 90, was going to 85, 80 in a flash, that never happened. people got turned the wrong way. >> am i on a

well, he did addressed china, and they were changing it up which carl icahn told me was his main reason for selling out of the the stock. >> we no longer have a position in apple, and you worry a little bit and maybe more than a little about china's attitude. in what you have been een seein >> well, tim cook says it is a strong source of revenue, and let's listen in to him. >> and the revenues in china were larger than any other foreign company, and in greater china, the revenues were $58 billion and we did fairly well in china, and done fairly well, and despite the short term turbulence here, we are doing well now. >> and these are two separate situations. icahn is talking about the relationship of the chinese government and the companies doing business there and the risks involved and i am sure that every company doing business there are going to include significant risks including mr. cook if he were here, but mr. cook is talking about the revenues in china and how they had the year over year decline. what do you make of both of the angles and what it should factor into the stock? >>

carl icahn, donald trump, you guys are not going to get it all.oing to change this economy, we're going to create an economy that works for dishwashers, that works for minimum wagers. >> now, most of sanders' speech was about his campaign themes like a $15 an hour minimum wage and free college tuition and medicare for all, but his visit to atlantic city sends a larger message according to one of the councilmen who helped introduce sanders at the rally. >> the fact that the economy was impacted, we had a a casino that was doing wonderfully, but because the general consensus of the board says, no, we can make more money someplace else, it took out 14,000 jobs. >> dell delgado says sanders' campaign themes are a perfect fit for the troubles atlantic city is facing. casinos closed, and the city found itself in a financial meltdown. now it's caught between north and south jersey, and there's no sign that the stalemate is going to subside anytime soon as atlantic city inches ever closer to bankruptcy since it's running out of cash. sanders' visit isn't

the union, with a strong showing here today, endorsed sanders. >> we all got to tell the carl icahns of the world, that that greed is not acceptable. >> he's not a typical politician although he's been in politics all these years. >> reporter: he told supporters he's fighting on. and how he needs a huge voter turnout in the garden state june 7th primary. >> new jersey is extremely important to us. there are nine states left, new jersey is second largest in terms of delegates. we have to win them. >> worth fighting the good fight over. i'm there for him all the way through. >> reporter: sanders acknowledged that he's in an uphill fight but said he's. used to uphill fights his entire life. meantime, hillary clinton is set to campaign in camden county wednesday. live in the jersey shore bureau in atlantic city, ted greenberg, nbc 10 news. >> if you live in new jersey and want to vote in the june 7 primary, there is time left to register. the deadline is may 17th. >> trump is talking to christie to lead the transition team if he wins the white house. they have been preparing for the elec

michael, i mean, icahn went straight at him. >> yeah.unions have been a big problem. >> yeah, that was an interesting point. and i also wonder about bernie sanders now. he seems to be trying to turn to trump more. i mean, is that a sign that he's given up on hillary? lou: well, you don't see second place folks pivot like this to the general election that they're not going to be participating in, do you? >> the gop nominee is next. [laughter] lou: anyway, what do you think, ed? >> this guy's never created a job in his life, he's been on the government payroll most of his life, and he's a socialist. socialists think you and i should earn money and give it to people who don't work. lou: to a certain extent. i would say to the bone that man is a socialist. >> he claims it's so, he makes no pretext. he never put democrat in front of his name this this year -- until this year in new hampshire. donald trump has created jobs all of his life, he's a leader. he basically is a guy and his friend carl icahn is another guy who's created a lot of jobs

>> it's an interesting injection of carl icahn. he's been mentioned often by donald trump as a treasury secretary. he was targeted by bernie sanders in atlantic city who went off donald trump and carl icahn for failed casino projects that have caused job losses. and carl icahn has fired back against bernie sanders who's accused him and donald trump of greed and saying that they can't have it all in this country. carl icahn said that bernie sanders was doing the bidding of a union that was profiting from the health insurance policies that the union ints sold to employees, but he also said that he agreed with bernie sanders that the income gap in this country is too large, it's a big problem to be dealt with and he said owners in capital including ceos are ridiculously overpaid and that's a problem the united states needs to deal with. an interesting acknowledgment from that side that they're raising, a come of them, significant and worth debating, guys. >> actually we've heard that from donald trump too. he talked about raising taxe

icahn. and you've got hedge fund losses. now no surprise to us, right, guys, it was a tough quarter. but you do forget for aig this happened last quarter also. and it adds up. what are we talking $537 million loss in market value of its hedge fund holdings. and that of course resulting to a certain extent in some of the missed here for the company, but we'll have to talk with mr. hancock and sort of see what he can cite as some of the key reasons why he believes they're on the right track. return on equity at least, jim, a little better than what we saw with most of the banks out there. not saying much, but i guess it's something. >> yeah. look, it was a so-so quarter. i look at travelers. they are such better companies. honestly, yeah, i'm happy to speak to this gentleman that's the ceo, but this aig is not really as great a company as people think. there are some possibilities here, but when i look at chub i think, wow, what a better company at aig. these are just night and day. aig is never going to make the playoffs look

icahn is the billionaire who now owns the trump taj mahal. sanders says he stands with the worker who lost their jobs and ben feefits as the kcasino indu shrinks. he says the time for change is now. >> what we need to do as a nation is change our national priorities, no more tax breaks for billionaires, start to invest in communities like atlantic city where wages are too low. >> sanders wrapped up a swing in new jersey, and yesterday, held a rally at rutgers university. hillary clinton will campaign in new jersey this week, she's in camden county wednesday. while her daughter, chelsea, is in essex and middlesex county this friday. the democratic front runner had an event on family issues in northern virginia. she spoke about the importance of early childhood education. >> you know, the state and the county, the public school districts have a role to play, but we have to look at how we create a much more robust structure so more kids get that early instruction, those -- that safe quality structured time, and, obviously, full-day kindergarten

will golike carl icahn and it will be an interesting few months.hat we are all gearing up for right now is the american society -- probably the biggest hereal meeting there is and we have all of these companies coming out and releasing interesting data. they will show some impressive data, some improvement in aml patients. data theyhave key will present us with as well. they're looking to help justify the deal. >> thank you for joining us and talking about the pharma, just the drug industry in general. coming up next, on bloomberg markets, trimming their monthly gains with the dow now negative. we next discuss how janet yellen and the fed might take a break on equities. ♪ >> let's get a quick check of the u.s. stock right now. all industries are down right now. .he dow jones is down nasdaq this afternoon. time for a look at the biggest business stories in the news right now. goldman sachs president gary is she financing and low rates are feeling mergers and visions in 2015 and the outlook for that business remains bright. optimistic about goldman's

carl icahn got out of apple. you have famed investors getting out and a famed investor getting in. >> i'm just saying how the market seems to be perceiving the berkshire news because again, this wasn't buffett himself per se, but the two associates who run the portfolio. >> maybe. maybe it is. you know, they have complete autonomy with air quotes, right, because -- >> they don't have any autonomy. >> it's a billion dollars and they run 20% of the portfolio into one stock? i don't know if that's all them. >> the market is bidding oil up 3.5% because it deems the berkshire position to be an overall bullish sign for the stock. no? >> note where the rally stopped. 92 with support for apple going back a long time, now it's probably resistance since it's broken below. don't be shocked by that. >> the institutional investors won't look and say it's time to get back in. it's more the retail investor. wow, buffett's in, let's follow him. short term gets a little backstop but i can see this going lower. it's a very liquid

and the carl icahns of the world feeling a little sheepish about how much he's being paid.w, the guy is a -- he's a real agent of creative destruction in the capitalism world. and you don't want that to go away. neil: the one fortunately you hear, though, to correct this gap between the rich and the poor is to forcibly raise the wages of those on the lowest rung of the ladder. the hourly wage workers to $15, more than double it. and then forcibly have the rich pay more in taxes and that will at least have an effect of making it look like it shrunk. now, that tends to be the solution. what do you think of that solution? >> i think the minimum wage thing is insanity. and you're seeing it right now -- everywhere where that's being gusted, you know, the fast food restaurants are looking at automation solutions and organized kiosks. that whole bottom end of the ladder is being obliterated, and continue will be. you can't possibly work to fix an actual working market by putting an artificial floor on those wages. and it will without question materially and dramatically hurt the p

a hedge fund managed by carl icahn's protÉge has taken nearly 10% stake.tter to the board, he suggested pandora should explore the pen -- potential value to shareholders. to have themaid the help of morgan stanley earlier this year but with the reestablishment of tim westergren as ceo, the idea appears to be off the table. >> it is full steam ahead. by timhe said he was ron westergren returning to the helm of pandora. inres closed 6% higher tuesday trading. spell up, will the fiasco trouble for the wider online lending space? and if you like bloomberg news, check us out on the radio at bloomberg.com. ♪ mark: let's begin with a check of your first word news directly authorities raised areas of deadly bombings was likely carried out by islamic eight. at least 69 people were killed and three outdoor market and a restaurant in baghdad. amtrak says it will review the findings by the national trance patient safety or on what led to last years fatal derailment in philadelphia. the chairman of the ntsc praise the trains engineer and what blame on the equipment. >>

interestingly he may have bought some of the icahn that were being disposed.dded a great deal to his overall portfolio, it's a nice little endorsement. >> you know, it's funny, you always know when icahn buys something suddenly there's something so hated like apple, it wasn't buffett, it wasn't -- these two other guys. buffett had nothing to do with it. everything else buffett had something to do with, coca-cola, not this one. no, no, huh-uh. these two are the guys. >> you don't believe becky quick when she says -- >> no, it's true. but stealing buffett's money for heaven sake. wasn't like buffett said you two stooges go buy whatever you want. i don't want to know about it. that's not -- it's not that decentralized. but apple's so hated now it's like, you know, it's against a core short that warren has. >> how much -- here's a question. how much cover does it give managers to start buying some here? >> that's a really good question. because you know what, i was looking at coca-cola over the weekend and that stock, it had a good quarter, but it's probably one o

an investor carl icahn recently doubled down on a bid., brazil has a new acting president. an shellshocked investors look for clues on the industry's hell. minutes --es in just industry's help. those stories in just minutes. the major index get most of the gains leading little right now. the big mover of course was apple trading near

carl icahn was prepared to value the company at $15 billion when he made his investment. but notwas harebrained, harp -- maybe it was harebrained, but not harebrained enough to make them from making the investment back in august. alix: he bought into it, so basically, what changed? those are strong words coming from him, right? mr. souki: it was unfortunate. i do not think it was called for. i think we both agree on the fact that he caused my departure. he wanted me fire, and i got fired. i think we agree on that score. alix: [laughter] no point inhere is being called harebrained or not harebrained. it is a fact of life. we disagree on fetish -- strategy for the future, and he prevailed. good look for him and the company. i am rooting for him. i'm still a shareholder. not quite as large as he is. alix: he owns a little over 13%. you told me you all over 3 million shares and you will hold -- to five years. mr. souki: i wish the company best. when we last spoke, you mentioned that perhaps cheniere &a target. good m sco has experience with buyouts. you think his appointment

carl icahn said that apple would have a $1 trillion market cap.: a lot of these productions have been crazy. let's talk about the car. let's talk about the reality where apple is. we are entering the era where i don't think we are going to see the kind of breakout products that smart phones and pc's were for some time. we have got vr, wearables but none of them are going to get anywhere near as big as these other categories. that means you've got to have multiple bets. the car thing is interesting. i was in detroit talking to carmakers. there is this sense that the possibility for disruption in the auto business is huge. however, there is also a lack of awareness by tech companies on how hard it is to build a car. that is going to be challenged for apple to overcome in the near term. emily: bob o'donnell, thank you as always for joining us. david kirkpatrick sticks with me. the former tesla executive -- protera's ceo joins me to talk about his futuristic fleet next. ♪ >> the top stories is this hour. asian stocks are set for a third weekly loss. e

carl icahn just disclosed he no longer has a stake in the company.iscuss, shira ovide from new york as well as reporter noah bureau how. i will start with you. what buffett has said is one of his two investment managers made this investment and didn't it.ult him on what do you read into this big bet on apple? noah: there is nothing nefarious going on. buffett has two deputy investment managers. he in trusts of them with $9 billion each of berkshire's capital that they go out and get to invest in a way they see fit. what we have seen is one of these guys, they happen to be younger than buffett who is 85 hisf these deputies is in 40's, another in his 50's -- one of those guys liked what he saw and put $1 billion to work for apple in the first quarter. i spoke with a lot of investors today, and some of the themes they were hitting on is that apple has a ton of cash. it was trading at a pretty low multiple, and so investors that like good value, maybe there was some opportunity there. emily: the two investment managers we are talking about, weschler.it's

carl icahn sold all his shares.ion about whether apple really is a growth stock in the future. when we look at the services, and he goes back to apple music and the idea is going to ultimately make up for some portion that hardware will not account for the future, how much growth are we expecting in the services business? how much potential does apple music have if they get it right? alex: as a proportion of apple's total revenue, it's not a massive percentage. about 11.5% total. if you compare that to netflix, it's a big business. pushing $20 billion in revenue for services. that is everything for music, icloud, sales on the app store. to 50%-20% growing per quarter which they are, it's a big business for them. not as big as the itunes business. the hardware is where they make the money. emily: we will be watching in about a month. alex, think he so much. apple hascond time lost a battle for the use of the iphone trademark in china. a beijing court decided a little leather goods maker could use the label for its wa

just trying to make nice with the chinese government after we know how critical that market is after icahnd concerns about whether apple and clyne going to be able do business. >> i completely agree. the two points the apple pay point. last year -- they skipped a level in china. everyone has smart phones. they don't necessarily have laptops. most internet paying does in fact happen on smart phones so getting into that area is an area they want to do. also i think that pr point in terms of smoothing things over with the government by making an investment in a very much chinese company. didi -- is what the company used to be called of. very much the eeber of china. on the surface it looks like a strange investment but only one billion. it is not huge relative. >> to 230 billion cash which mostly overseas. it doesn't make a dent but it is interesting. because it is apple and because of the backdrop apple is suffering right now in the market. we have our beijing correspondent on the phone right now. u unis are you there? >> i'm here. >> tell us about didi chuxing? >> it's definitely competitiv

david: we have been talking about what carl icahn thinks about apple. talk about what he thinks about aig. aig posted a third straight loss yesterday. that's coming up next on bloomberg go. ♪ matt: this is bloomberg go. coming up in the next hour, gregory nassour. ♪ this is bloomberg go. i'm jonathan ferro. bp has thrown in the towel in the fight over the 2010 oil spill. almost $1 billion in damages to fishermen and seafood processors it said did not exist. lawyers for the seafood industry , claimed bp, fraudulently inflated the number of claims. in new been investing technology like a self driving electric cars. the company -- hopes it could replace its flagship model. hugo boss promises to close stores that cannot make a profit. hugo boss is struggling with lackluster demand in asia and discounting in the u.s.. : aig shares are down. seeing its biggest loss in hedge funds. sure knowledgeis --ss li billionave about $810 -- they have about a $10 billion hedge fund portfolio. is they haveut aig said they are going to cut their holdings by half. david: th

icahn has, first downgraded in the middle of february, if i recall. it's not entirely a surprise. >> no. >> given movement back in february, but it just shows you sort of how the portfolio has dope, obviously, with exposure to energy and trade that had gone the other way. >> and to your point, they had put some criteria in place the last time around about whether or not they would downgrade if certain things were to or were not to happen. in this case here, they cite prominently up top about the loan to value ratio among the company, and that was what they previously cited for downgrade as well, again, perhaps, not a huge surprise, but moved the stock beefly intraday, now recovering losses, scott, over to you. >> thank you so much. the breakdown with josh brown, the charge of telling josh to buy in the market you overlooked. he'll explain what it is next. they found out who's been hacking into our network. who? guess. i don't know, some kids in a basement? you watch too many movies. who? a small business in china. a business? they work nine to five. t

icahn's protege. >> right. >> interesting. let's talk about valeant here. we saw it surge.to the stock as quote unquote, the pharmaceutical enron is now reversing course and it is long. that news sent the stock surging. you may recall left was on this show. we did see that immediate impact in the shares today. >> yeah. well, that is interesting. although it did say he is long puts. as a trade, remember when he first started with the fillador work, 180, or 170. quickly down to the low 100s. now at 26 maybe all the juice is out of that trade. i mean i don't look at it as you know this korvex news is more interesting. i think citron as a trader i think of corvex as a longer term investor. >> part of the reasoning behind getting long is that andrew luck essentially said or citron essentially said they don't think the new management will do anything, make any calls or make any decisions that will torpedo the stock. they'll be very careful. >> i think they're holding their hands. >> that could be, too. >> what's interesting is the street is now with the falling of the tank puttin

private equity firms, hedge funds, people like carl icahn.t do you make of that trend, is it creating more competition for you? beth: it is so incredibly competitive out there that 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: it is great for companies but 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 insurmountable 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 igh. beth: the cycle of 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 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 really valuable new service or kind of prod

think about these takeover kings like carl icahn who puts pressure on, maybe he's not willing to do something, but he wants to communicate something. i think that's in part what we saw from trump. you're on notice, and all the europeans i talk to are nervous about this. >> what is this? is this the one thing -- >> i have to laugh. >> one thing with trump that you agree with? >> john, now, i have to laugh, eric, i mean, when i hear "fair share," that term is straight up obama. i mean, that's straight out of obama's mouth. that's his whole thing. trump is really not being truthful on this one. it's not trouthful the u.s. funs nato, befund 22%, less than a quarter, and it's not too much more than what england funds in terms of nato. because trump is ideological, he doesn't see the purpose of defending, but it's to defend america. north korea is threatening the united states with nuclear war. we don't think we should protect not only our interests helping south korea defend against that? >> if they are not paying at all dr. >> fair share. >> whateverment fair share is -- you are trying to -- equa

but you have icahn getting out, tepper getting out, berkshire getting in and we just got news that leon cooperman is getting in. >> exactly. the buyers now, i think roger basically isolated the thesis here. it's not anybody who is claiming to have a great fundamental edge on exactly how many units are going to be sold or exactly what the trajectory of the next year or two will be for the business. it's about $45 billion or $50 billion in net income, give or take. it seems like a massive profit fool of a financially stable company and people are willing to say selling has gotten overdone. if you remember when carl icahn took his stake he had detailed projections about how many watches would be sold. >> how much stock the company should buy back. >> everything was very specific. it was easy to scoff at the idea the most widely followed stock in the world, people had overlooked this. now it's much more about big numbers and profitability. >> none of these guys has been any good at predicting not only the direction of apple, but why. looking at the stock, ever since 2012 which coincidentall

i want to turn back the clock a few days and remember that carl icahn came out and sold the stock and that warren buffett is buying it. so someone who's a corporate raider, someone who's more of a trade trader and someone else is buying the stock. i think that's great for shareholders. >> you own shares of apple, right? >> we own apple. actually we bought it -- we owned it on growth portfolio. the dividend yield was great. but we think this also marks a change in the thinking of warren buffett because now he's allowing some of the newer fresher blood to think a little bit out of the box. and, finally, warren buffett is making a true technology investment which is really kind of an old world technology investment. >> interestingly, mark, there are others who would say, uh-oh, isn't this a sign that apple is the new old world investment that his might be behind it now. >> you know, what's buffett doing in apple, okay? apple is not a val yaw stock in any way, shape, or form. the problem he's got is he's been telling people he likes to invest in his technology zone. it doesn't have any du

it didn't happen that carl icahn told cnbc viewers he sold out of his entire position either. apple had its worst week since january 2013. and it lost $62 billion of market value. that's a lot of money. let's put it this way. $62 billion, what apple lost, is worth more than the market caps of 434 members of the s&p 500 index. it's like, for perspective here, losing the entire value of, say, an american express, or biogen or worth two valero energies or three hormels. now it's about whether the stock has caught the attention of some of those value-geared traders. back over to you, melissa. i mean, simon. just kidding. i knew it was you. >> let's send it over to carter. how do the charts look here. >> if we know, uptrend is defined, and clearly uptrend for quite some time. higher highs and higher lows. down trend is the opposite. that's where we have been for the better part of a year. you can draw your lines any way you want. as charters or technicians are inclined to do. a triple top. here's another way. we have come right back to the new down trend. and we're failing. here's

is up 1 1/2% as a result of icahn's move.t breaking news now, facebook, twitter, google, microsoft pledged to fight what they call on-line hate speech. tell me. >> they say they will tackle it and remove it less than 24 hours of it being posted as a part of a commitment with the european union. stuart: so they define what is offensive. ashley: correct. stuart: what is hate speech? >> they say there's a clear distinction and expression that conducts violence and hate. it's basically a code of conduct they're putting in place. where is the line? what is it liz: it could be a moving target, redefining the rules and regulations there. stuart: i saw the look on your face liz: i was baffled. stuart: they decide what a hate speech and offensive. i saw your face liz: that is more meddling in american business. stuart: and-- >> for taxation and everything else liz: will the eu ever be appeased? they've been behaving like this 20, 30 years. stuart: more than a, i left 40 years ago. former attorney general eric holder, well, he has kind

betty: carl icahn's representative will join the board. what preparations are being made? have they had any influence on the last several months? peter: like any new board member, this be the time of engagement to give access to information that will make them as effective as possible. we are happy to say that engagement has found common ground. in terms of investing and focusing where the company can win in the long term, we are optimistic they have a large stake in aig. their interests are highly aligned. we are building a long-term value for the company. betty: has their activism over the last several quarters in any way your ability to keep your eye on the ball and aig? peter: there were many more distracting things going on. aig employees, all 60,000 of them, have a norma's resilience. they can keep their eye on the ball and not be distracted by the press or any other factors. resultsiver improving and control the things that they can control. i'm no different than the rest of the employees. betty: it's great to see you. thank you so much. i'm going to join you back i

carl icahn cut to junk status. the agency caught icon enterprises from triple d minus.he value ratio is expected to say to 60% over the next of the year. that is your business flash update. and the day fundamentals are still there to drive the market, the assessment from the globals -- goldman sachs global investment m&a. he to alec still in an exclusive interview at the finance conference in california and talked about the m&a pipeline and regulatory issues surrounding market. the m&a vice -- environment is quite good though down from the 2015 record levels. 20% from last year, which probably understates the drop off. it is down like 35%. the real difference is the lack of transactions. we are at about half the same level as we were last year. the pipeline still does not have as many dig -- big deals. it is across all sectors. the health care sector continues to be active. we have seen a lot of pickup inactivity and consumer. i think we are bullish about the pipeline. it is a lack of the transactions that inviting the pickup last june that we have not seen as much. the

icahn was repaired to value the company at $15 million.was harebrained, but not enough to stop him from making the investment in august. alix: so he bought into it. what changed? those are pretty strong words coming from him. >> it is unfortunate, i don't think it was called for. i think we both know that he caused my departure. we agree on that score. [laughter] there is no point in being called harebrained or not. we disagree on strategy for the future. he prevailed. good luck to him and the company. i am still a large shareholder and then rooting for him. not quite as large as he is. alix: fair point, he owns 13%. as of february, you still own 3 million shares. you told me that you would hold them for a few years. is that still the case? >> not to the same extent. i have sold some but i still own over 2 million shares. those i will keep for couple years. i wish the company the best. alix: that was my exclusive interview with the founder of cheniere energy. scarlet: gold demand breaks a record. why that rally should be sustained. ♪ alix:

scarlet: how much you look at active investors like carl icahn? they would agitate for some of those necessary things. >> we do this totally independently from what analysts look for. we usually come back to a company or stock, but not because we are looking for assets per se. alix: you mentioned health care and tech. why are those two where you see them owner you see them in the stability bucket, and they are more representative. -- macro sensitive. health care is growing, good revenue, the top line, dividends growth. the valuations that are attractive compared to other stable growers like staples and utilities. that is what we are seeing on that side. with the economic census side, we see financials. and banks particularly. historically banks had equity before the financial crisis. we think they can become that again. they have been dividend constrained for a couple of years were they had to use free cash flow to build their balance sheet. they are such a point they can return, increasingly return that capital to shareholders. scarlet: they had

why -- when you look at other people moving and selling like carl icahn, or at least saying he's soldthat? how do you react to that? >> well, i understand a lot of people are getting out of stock. i don't know if they've been in it as long as we have. i mean, we're hopeful that things that apple is doing with the iphone 7 rollout, which will be coming down the pike at the end of the year, stock has traded up in anticipation, roughly between 31% to 38% on the proceeding releases of iphone 5 and iphone 6. so we still have some optimism that things aren't as bad as everybody thinks that it is. >> right. >> so that's why we're still holding shares. >> i mean, so, what judgment -- in a sense i know the answer to this question, i guess, from what you've just said. but the call from icahn is actually, china is the most important market and the chinese government can make it quite difficult for tim cook and the team to operate there moving forward, or at least to grow. and then you see, of course, according to reuters, that he's heading off there to meet with senior political leaders. how do

icahn decides to throw his weight behind allegan.emonstrated enough evidence of a sustained turnaround? politics are front and center again. speaking about donations. why he is raising -- falling behind raising money for his campaign. we are through the trading day. let's get a check of the markets

late breaking that carl icahn called has taken what he a large position in the company and is supportivef the ceo. .hares of one quarter percent typically when it reaches 5% you would have to report the details . we can presume it was lower than 5%. betty: stocks are pretty much had it -- why is that? what about reaction in the market? julie: we are seeing a push and pull looking at the fed outlook. i want to mention that we are seeing in other assets. we are seeing more of the movement, particularly in oil prices which we saw spike of in 15 minutes ago. -- spike up 15 minutes ago. it might be related to the saudi arabian report saying they might be seeking a $15 billion on sale. it is unclear -- the timing would seem to coincide, but oil is getting closer to $50 a barrel. that is why we are seeing the gain in energy stocks. treasury is something we are watching. stocks are outpacing gains. this narrative in the fed is beginning to change. the 10 year yield is actually at a one-month high, which is what you would expect given the changing outlook, 1.88% is where the 10-year yield is. mar