. >> carl icahn, a billionaire investor.so happens to be a special regulatory advisor to president trump. this week we learned that his oil refining company, cvr energy, saved roughly $60 million in the first three months of this year because of expected changes to some fuel regulations that icahn himself actually lobbied for. understandably a group of lawmakers led by senator elizabeth warren are crying foul. they sent a letter to u.s. regulators urging them to look into icahn, but it's not clear that anything is to be investigated. icahn is not a senate vetted or nominated appointee to the government. >> my design. carl icahn was not about to take a position that required divesting or confirmation, but he does have massive influence. and while you could say $60 million, carl icahn doesn't get out of bed for dough like that. the fact that he can have influence over the s.e.c. chair, who chooses the epa director, this is a big deal. it directly impacts the billions of dollars this guy invests. >> and he's not the only one. t

it's a cardinal sin to turn a mag -- icahn did what was right for icahn, he doesn't work for you, he has zero fiduciary responsibility to you. none. i consider it a gift that he even tells you what he's up to. the lesson should be crystal clear. whether it be bristol myers or apple or any other stock, you must do your own home work. if you follow the big boys, you'll end up buying high and selling low. i want you to recognize, that while you may not be a full-time money manager, there's no reason whatsoever you have to be a full-time amateur. bob in connecticut, bob? >> caller: boo-yah, hey, jimmy. >> yeah. >> caller: over the last 30 years i have accumulated significant equal positions in both coke and pepsi. would the soda tax expanding and accelerating, should i start taking profits and sell off some pop stock? >> first if you're up a lot and nobody ever got hurt taking profit. bulls make money, bears make money, and hogs, they get slaughtered. i like the prospects under the new ceo and my travel trust has a very big position in soda. it's just a good idea. i want you to take a li

icahn is just the tip of a massive iceberg. the cabinet and the white house are filled with wealthy individuals who are neck deep in personal financial conflicts. president trump himself set the example by refusing to divest from his family business. people who work for him have followed his lead, showing a brazen disregard for longstanding ethics procedures. so what can we do about all of this? the answer is actually there is a lot that we could do about this. we can pass legislation to require the presidents to disclose their tax returns so that the american people can see any secret dealing. we can pass my presidential conflicts of interest act, which would require presidents and vice presidents to put their assets in a blind trust during their years of public service. we can beef up independent inspectors general who look over the shoulders of political leaders at the agencies. we could upgrade the office of government ethics, which polices financial conflicts in the executive branch. and we could demand that republicans wh

julia: and carl icahn is not alone in this.ry board the donald trump has, there are many ceo's. they can suggest things change or not change. he is not alone in that. >> absolutely. another example is stephen schwarzman. he is an individual advisor, ceo of blackstone. julia: it opens pandora's box. scarlet: and not looking at one person, carl icahn's is doing well because shares of cbr have gone up quite a bit, so anyone can be benefiting from that by owning cbr. are some other people who made money off that trade, as well. much, ourhank you so pulitzer prize-winning journalist at bloomberg. julia: time for the bloomberg business flash. , blueprint for a combination but the state of the deal is in the hands of and the advisory board, which remains divided on the transaction and has derailed the plane once before update.. $359 for foreign exchange manipulation scandal leading to more than a -- linked to more than a dozen global banks. at least a dozen employees in the new york office participated in schemes to many late -- manip

billionaire hedge fund manner -- manager carl icahn. bet that thesive price of renewable fuel credits would drop. then, as trump's advisor, he pushed policy that did in fact cause the price of those credits to drop. $50 million profit for himself and the company he owns. well, i have called for an investigation into carl icahn because it doesn't matter if you are a nobody or you are friends with the president, insider trading is illegal and white house advisers should not profit off of their white house for. -- their white house work. period. [applause] the carl icahn is just the tip of a massive iceberg. the cabinet and white house are filled with wealthy individuals who are net deep in personal financial conflict. president trump himself set the example by refusing to divest from his family business. hisle who work for him load lead, showing a brazen disregard for long-standing ethics procedures. what can we do about all of this? the answer is actually -- there is a lot we can do about this. we can pass legislation to require the pres

it just means trump will listen 's his old friend carl icahn advice. is not the first time democrats have gone all -- after carl icahn. what has he said in the past? zach: he has focused on a narrow issue -- a longtime hobby horse of his -- he has refineries losing money. he blames an epa regulation. he wants to change the regulation. democrats are concerned he is using his position with trump to personally, or he is somehow trading on information he gets about the regulatory process since he is deeply involved in advising the president on how to change the regulation. julia: his argument has been if the regulation changes it will not just benefit him, but his competitors, and therefore that justifies the advice he is giving president trump. zach: he has been very open about the fact he would stand to he said other refineries would benefit. all a lot of refineries would actually be hurt by the rule. it is controversial in the industry. it is something that -- there are other people who believe they would stand to benefit. julia: do we think regulators

was a story they brought the guy in to stand up to icahn.g no. this guy will do what i want. he believes -- neil: not all ceo'ss do, right? he famously went after tim cook in apple. >> he did it. neil: buy some old stock. >> tim cook bid buybacks after that. neil: he did dividends. >> dividends. carl icahn the abouts his way often. neil: what is his modus operandi for people that don't know? he gooses the stock he make as killing on original investment and leaves. >> there is two carl icahns, old days he was somewhat unfairly considered a greenmailer. jump into a stock and people buy him out at higher rate. that was 1980s. neil: twa era. >> i believe that is not exactly accurate what he was doing but that was his, that was his rap back then. now it is different. he is much more of an activist investor. he constructively works in management. do xy and z. neil: stays longer in the stock. >> stays longer. he has a big personality. he talks to us and moves the stock. he did that with apple. apple did do the buybacks. used some cash to do buyback

icahn. mr.icahn was named as a specil adviser to president trump to help him oversee his deregulatory push. these senators are saying that they want regulators to examine will he violated insider trading and anti-market manipulation laws. cnbc has reached out to mr. icahn's staff, and we will keep you posted on what we learn. >> all right, ylan mui with breaking news on karl icahn and credit for the credit industry. we'll take a short break, ponder this and come back to talk about amazon and the echo. do not worry. more on the breaking news involving mr. icahn. ahn. whether it's connecting one of the world's most innovative campuses. or bringing wifi to 65,000 fans. businesses count on communication, and communication counts on centurylink. >>> welcome back here. regarding the breaking news ylan mui said information requested around carl icahn's trading of biofuels credit, you have to be careful. there are two companies here that may be involved because they're both controlled by carl icahn. bot

vonnie: has carl icahn or any other activists proposed what should be next? >> yeah.ohn foster also used to be on in the board of a.i.g. he agreed to step down. they all wanted a stepdown. this scale back there andiested you don't need to break in the whole thing up. just start to sell some assets. so we can focus on this corps commercial operation which works from everyone from we chat to united airlines to the world's most wealthy. vonnie: expensive is it bringing brian duperreault on board? >> 23% more expensive than peter hancock! [laughter] a.i.g. c.e.o.'s have been paid at a discount relative to peers for very many years and one of the claims he made is it's going to be expensive to bring on a new crowe stocks bring on brian duperreault. they took a stake in hamilton u.s. which is about $110 million. and then they paid brian another $12 million to get him out of his fee and about $40 million over the next few years to hamilton to waive that non-compete agreement and another $16 million in annual payback. vonnie: what does peter hancock do now >> we will see. he

the price plummeted after icahn and white house planned to revamp those regulations.mocratic lawmakers argue resulting profits could be insider trading. icahn did not immediately respond our request for a comment. >>> former starbucks ceo howard schultz has high hopes for the 2017 graduating class. >> you can innovate, create and lead. your generation will transform our economy and create millions of new jobs. >> fantastic millennials will save us. no stranger to speaking out about social issues he also told students they will develop cleaner energy. starbucks launched a program in 2014 that covers online tuition at asu. so interesting so many commencement speakers staying clear of politics. interesting time. everyone trying to scrub politics out of their speeches. >> hard to do these days. speaking of our continued coverage of the firing of fbi director james comey continues right now. >>> and that breaking news the bedrock of our democracy under siege. fbi director investigating links between russia and aides to the president fired by the president. what's next for

a kind of roles carl icahn playing? is he serving as an informal adviser to the president? the president informally, but officially to the extent that he is on regulatory matters. youth part of president trump's first 100 or more days. president trump -- has done on a wide friday of levels to deregulate markets, including the use of executive actions, fast tracking things in a way democrats can't filibuster. deregulation's include energy markets, which is what democrats are zeroing in on. this part of the democratic party's attempt to shift left and become more active, coupled to a vocal, in policing what they view as potential transgressions on wall street and wealthy investors. the senate is in session, health for a group meeting today. is there a plan that still remains to craft a bill? sahil: that's right. republican senators are tossing aside the house passed health care bill approved by an error margin last week and say they will start from scratch. one told me there starting from a clean sheet of paper. there's just not support for the house bill on the senate. repub

to investigate whether trump friend carl icahn broke securities trading laws.a small oil refinery. it bet against something called biofuel credits. epa regulations require refineries to buy them. the prices plunged after icahn and trade group presented the white house a plan to revamp those very epa regulations. democratic lawmakers argue the resulting profits could be insider trading. no comment from eye kicoey icah. >>> and "new day" starts right now. >> we want to welcome our viewers in the united states and around the world. this is "new day," it's 6:00 here in new york and we begin with breaking news. president trump has fired fbi director james comey. the timing and rationale for the abrupt termination for his handli handling of the clinton probe, that's what we're told, this is all puzzling. there are two main questions. why would the president fire the man investigating whether miss campaign colluded with russia during the 2016 election? and perhaps even bigger question is who among our leaders will step forward to secure the administration of justice i

investor carl icahn acquired a new 19.8 million share stake in conduit. einhorn's green light capital. conduent. appaloosa invested $200 million in the bank of america in the first quarter. we found conduent very fascinating. janney montgomery scott chief investment strategist mark luschini will tell us. first of this conduent name, do you find that very interesting. they're selling apple to buy it. >> hardly a name you ask somebody on the sidewalk if they knew he it, that's for sure, relative to the two other names you mentioned, liz. it is interesting. anytime investment luminaries taking a big stake in companies whether in the bank of america in the case of appaloosa, somebody known by name brand in the other it warrant attention. there is worse places that you could shop for investment ideas in these gentlemen's portfolios. liz: i don't know if that is the right name for the retailer, the mom-and-pop investor but what do you suggest that they look at, if they get the idea from a guy like david einhorn or carl icahn? should they decide what is appropri

remember when carl icahn, the great carl icahn, he sudden you have to get tough it because of china.t was a huge call. he missed a lot of up side. not to take away from a very strong track record from mr. icahn over a loren period of time, but the last three years have been difficult for him. he's gotry of a lot of people on his staff, trying to mix things up. that was an ill-advised stock. as was getting out of the netflix. you can never say when you've made money it was a bad sale. he made money on both of those, unlike some other names. >> remember the hedge funds were betting against f.a.n.g.? facebook does the number, and then doesn't quick. >> amazon was supposed to be overvalued. and then alphabet, that was supposed to be ruined that you're advertise you're advertising against very bad -- >> that is why they account for such a large percentage of at least the nas 100. >>> results ahead of disney after the bell. discovery is already out reported a quarterly miss. pandora, a narrower than expected loss, but also announcing that kkr has agreed to invest $150 million in the servic

. >> you want it to follow icahn, not buffett when it came to technology. >> what struck me about hisnt, it was just the way he talks about his own ceos of people who run his businesses. he loves to lavish praise on those guys for how they think long-term and the rest of it. seems as if he's putting bezos in his category. >> interesting. you have an interview on monday? >> michael dell, dell world kicks off lt he's got news on the cloud. he is going b to be trying to shake some things up in shares that with us exclusively on cnbc as he gets ready to kick off that conference in las vegas. it's been five years since icahn almost took out and he managed to get back. >> being private i'm guessing. >> also had time at the white house lately. >> four year, it has been. have a great weekend, guys. mike, thanks for joining us. now, let's hand it over to the half. back at headquarters. >>> top trade this hour, big black and blue. ibm shares falling on news warren buffett has sold a third of his stake in the company. what does it mean if you own the stock? with us for the hour today, jim, john,

on monday big hedge fund investors like carl icahn and david einhorn will reveal their first quartertocks like snap, tesla and apple. we'll also get insight into market trends including whether billionaire investors took money off the table in us stocks especially financial stocks as the trump trade began to fade. the gap and home depot will be reporting earnings on tuesday and on wednesday, us retailer target will be reporting earnings. they've already warned of lower profits for this quarter and said it would lower prices to try and compete with rivals. one of those rivals is wal—mart, the world's number one retailer, and wal—mart will be reporting their earnings on thursday. with us isjeremy stretch, head of fx strategy at cibc. it is always nice to see you. what are you looking out for this week what is on your radar?” are you looking out for this week what is on your radar? i think markets are going to look at what the data will do over the next quartering the us, to validate the assumptions of a june rate hike. quartering the us, to validate the assumptions of ajune rate hike.

informal white house advisor named carl icahn saw his financial portfolio grow by $100 million after he suggested the changes. we made a big deal out of it and , guess what, they backed down. being competitive does not mean for this return to make a quick buck. it means investing in the long-term. enforcing our trade laws is important. creating tax incentives for american businesses to create jobs here is important. we even have to think beyond that. technology is changing american work and we need to support new and innovative startups and businesses that can support a changing workforce. workers are looking for flexibility. i have a millennial. i know this. often, when they find flex ability mother don't have security. that is not right. ,- when they find flexibility ey don't have security. our party must get behind big ideas so they can share corporate profits to take those benefits from job to job to build up their savings. more than 70 are led by immigrants. 25% of nobel laureates were born in other countries. when people talk about immigration reform, they think of the people o

icahn is just the tip of a massive iceberg. the cabinet and the white house are filled with wealthy individuals who are neck deep in personal financial conflicts. president trump himself set the example by refusing to divest from his family business. people who work for him have followed his lead, showing a brazen disregard for longstanding ethics procedures. so what can we do about all of this? the answer is actually there is a lot that we could do about this. we can pass legislation to require the presidents to disclose their tax returns so that the american people can see any secret dealing. we can pass my presidential conflicts of interest act, which would require presidents and vice presidents to put their assets in a blind trust during their years of public service. we can beef up independent inspectors general who look over the shoulders of political leaders at the agencies. we could upgrade the office of government ethics, which polices financial conflicts in the executive branch. and we could demand that republicans wh

the tell whether he loses his money backing will be, will be carl icahn.u see carl in any way distance himself and all sorts of rumors that he is now, he hasn't been much in the policy debate at all, we have asked carl is he distancing himself from trump, he denied it vehemently, any of that ever turns out to be true, carl was the first major one and steadfast one, well that is when you know that people are running for the exits. liz: you've got breaking news? >> well, this is what sources are telling the fox business network regarding the controversy that never seems to go away president obama's 400,000-dollar speaking engagement with the wall street firm cantor fitzgerald. what sources telling fbn, that cantor fitzgerald is eyeing bringing in to balance out the ticket, a trump administration official. liz: at their big meeting. >> at their big meeting this is a fall conference that involves health care. president obama obviously, his signature achievement as president was obamacare. the, wasn't quite socialization but it was mandate of insurance that eve

aaron and eun, i think a lot of us would believe it, cher is an icahn. >> she is. at her. unbelievable to me that she's 71. >> she could do a plank for five minutes at 71. >> a what? >> a plachk. >> he doesn't know what that is. >> we're all planking. >> melissa mollet, you get out of the planking. >> face plant straight to the hospital. that would not be a good idea. all right. beltway here at new hampshire avenue, wanted to show you this because we are a bit lower than normal at the top of the beltway. taking a look at a map just to kind of show you how things are right now. again, all of the green right here is the rain falling across the area and it is wet. you're going to have to use the windshield wipers and allow extra time so it's not so stressful for you. 66 in bound, you can see the slowdowns through manassas all the way there through fairfax. george's county. in bound on 210. slow spot as you're approaching livingston road. b.w. parkway, a little slow near 32 in both directions. live look 270. southbound here. here are your travel times. we're going to s

are rising after the new crowe said he's not there to break the insurer meanwhile, carl icahn who wassplit is reacting to the new crowe via twitter this morning. we'll have the latest. and governments and companies around the world are beginning to gain the upper hand against the unrivaled global cyberattack. more than 200,000

then less of a shock when an informal white house advisor, carl icahn, so his financial portfolio will buy $100 million after he suggested the changes. we made a big deal out of it. and guess what? just like rob does in the legislature, they backed down. okay? being competitive does not mean selling out for the short term to make a quick buck. it means investing in the long-term. so enforcing the trade laws is important to the economic corner. creating tax incentives for american businesses. create jobs here is important. we even have to think beyond that. technology is changing american work. and we need to be supporting new innovative startups and businesses that can support a change in workforce. workers are also looking perfect ability. i have a millennial so i know this. and looking to the economy to find it. but too often, when they find flexibility, they do not have security. that is not right. i'll party must get behind big ideas on how workers can share corporate profits and take benefits with them from job to job to better build up their savings. that is reality and that is t

government works is off to a good start as carl icahn, his oil refineries say about $60 million in thest quarter driven by expectations the trump administration will ease regulations on renewable fuels. he is special regulatory advisor to president trump. and the six months since the election, the value of his estate have jumped $600 million to $1.6 billion. that is your bloomberg business flash update. opec committee meeting set to have come closer to a deal that would extend production cuts for nine months. we spoke with the energy minister for the united arab emirates. >> it depends on the analysis of each individual country. and that option. when you put the countries together and you look at the external courses in the market, six months, nine months, or more will come with justification. i think we need at least six months for the term of time for this deal to happen. we have significant inventories we need to create a demand between the supply and demand to start reducing that. >> your saudi arabian counterpart said he will do whatever it takes to move this market forward. what

expected,s apps than is going to name a new ceo, replacing peter hancock, call had -- carl icahn, sharesot getting a big bump, up by almost 1%, david. david: still ahead, the house ways and means committee chairman, what he would like to see when it comes to tax reform. that's coming up. this is bloomberg. ♪ ♪ david: this is "bloomberg markets," the trump economy. first word news this afternoon, mark hunton has that. mark: arguments are underway in seattle over whether to reinstate the trump traveled and you are looking at live pictures from the -- travel ban. you are looking at live pictures from the court of appeals. believed that the president have broad authority over immigration, but the representative from hawaii, you can see him speaking now, said the trump's statements during the campaign and his actions since taking office speak for themselves. the u.s. supreme court dealt a surprise blow to the voter identification movement, the lower court declaring it to target blacks with almost surgical precision. republican leaders required voters to show a photo id, eliminating same-day r

now we are joined by the and --y ceo, carl icahn karl iagnemma.l: in boston we just started driving here a month and a half ago and we are adapting autonomous driving to the streets of boston. boston is different than singapore. in singapore people obey the rules of the road -- caroline: no jaywalking. : in boston people are more creative on the road and we have to adapt to the software to drive more like a bostonian. caroline: i want to understand where you fit into the world of self driving cars. you are partnering with auto manufacturers and you are not making the cars. it is about sending technology through the carmakers? how are you working or competing? karl: there is a lot of copies out there that can build cars, and there are few copies that can build the software to power the self driving car. we are a self driving -- we are a software company. we are partnering with carmakers and will integrate our software with their cars and put the cars on the road in a white-hailing - - ride-hailing network. there will be no one behind the wheel, and

less of a shock when it white house advisor named carl icahn, did you hear about this? saw his a financial portfolio grew by 100 million after he suggested those changes. we made a big deal out of it and guess what, just right like rob does a legislator they back down. being competitive doesn't mean selling out for the short term to make a quick buck. it means investing in the long-term. enforcing our trade laws is important for this economic corner, creating tax incentives for american businesses and create jobs here is important. we have to think beyond that. technology is changing american work and we need to support new, innovative startups and businesses that can support the changing workforce. workers are looking for flexibility. i have a lament one real sly know this. and looking to the economy to find it. too often when they find flexibility they don't have security. that's not right. our party must get behind big ideas on how workers can share corporate profits and take benefits with the from job to job to better build up their savings. that's reality and that

sort of expect controversy from bill ackman these days after the whole referee between him and carl icahnbut do we see now, is it more a plan b for him, shying away from controversy or just see real value and real estate these days? >> i think he sees real value in the investment. if you look at the ackman portfolio and ackman performance, there's two spectacular blowups, one blowup in the last couple years, which he sold out and took a big loss on. herbal life has not traded in the direction he thought it would and lost money on that, but if you look at other stocks in the highly concentrated portfolio, platform specialty, products, howard hughes corporation, it's the performance of the stocks that has helped ackman from march 31st of the 2016 to april of 2017, up 18.5% net of fees. now, most people focus on valeant, the disaster it was, and herbal life, the high profile fight on our show a few years ago, but he's quietly trying to stage a comeback. up 4% in april. up 2.5% year to date, that's better than being done. >> yeah. >> and as i said, this is over the last, if you want to call i

carl icahn's icahn enterprises reported a 19.8 million share stake in conduent. shares he received from his prior investment in xerox and conduent was spun off from xerox back in january. also increased position in navistar and herbaliff. warren buffett sold stake in 21st century fox and doubled investment in apple. george soros' firm bought snap inc. while selling positions in amazon, abbott, delta and ebay. his firm took new positions in conoco phillips and fireeye and added positions in facebook, hp, and mondolee. and greenlight hiked its stake in gm and yahoo, dropped its position in yelp and took a new position in micron. >> spacex successfully launched a rocket from florida's cape canaveral last night carrying the company's largest payload yet. the falcon 9 rocket deployed a communication satellite weighing more than 13,000 pounds into orbit. the satellite is intended to deliver high speed broadband as well as mobile communications for ships, airplanes and government agencies. this is the sixth rocket launch for spacex this year. >>> still to come, we talk

unlike carl icahn, who said in 2015 he wanted breakup of the full insured.e's not there to break it up. >> ford is cutting its workforce with plans to trim 10% of global workers. while still retaining tech talent. the move is part of an effort to boost profit in a lagging stock price. we know auto sales have been disappointing. they appear to have peaked. is this in response to the slowdown in auto sales? scarlet, autot, sales are turning down after seven years of growth. there is pressure on ford. and its ceo, mark fields. the ford board of directors scheduled extra time to have fields explain his strategy. profits were down 42%. adjusted earnings were. they are going to be down for the year. they wanted to know what fields was going to do to turn things around. now it looks like one of the things he will be doing is putting staff. guy: lloyd banking group has returned to full private ownership most a decade after it after it wasecade bailed out and u.k. government to the tune of 20.3 billion pounds. should the government have waited? are there more great t

former icahn, the apple of his eye back in the day.l, but now, somebody's betting on a move like that. it's up 9% today. people didn't want to scramble in and buy more stock. they bought upside calls. the june 19 calls, now it's the at the money calls. i think that's a much better risk reward for more upside out of the stock. that's what they bought. i'll probably be in it for two weeks, they expire over five weeks from now. i'll be in them, too. >> pete, you've got neighbors. >> going to the energy side once again. we've had this over the last couple of weeks. going to update this. but in neighbors, pretty interesting. the move today, up about 30%. 3% rather, with 30 cents on this stock. this thing is an range over the last 52 weeks, so we're still near the lower epd, but it's starting to make a move and now, we're seeing the june 11 calls, so just out of the money calls. 30 cents, 6,000 of those were bought today. i got into that as well. i like what they're looking at. feels like energy, some of those beta names, the higher beta nam

i think you'll see apple come under pressure, someone like carl icahn, listen, i want you to bring itif we get this corporate tax rate or the tax holiday. we want you to do buy back of stock. see, that's part of the problem here. when you talk about corporate tax cuts and the repatriation of money particularly. that's different than the corporate tax rate, that's bringing the taxes, lower tax, bringing it home. what will when do in that cash, will they invest in equipment, or simply do stock buy backs? >> neil: let's say we don't even have to -- let's say it is a 10% rate, then the company and what it does with that, that's not the point. the point is, that money comes home, that is tax let's say in this case, $256 billion comes back with a tax tab on it, and the government can do with it what they wish. the president maybe with the tax cuts or something goofy, but what do you think of that? >> this president will do whatever he can to shine bright things in the face of the ceos like tim cook and politically, it is smart for a company like apple to play ball a little bit here. does it

carl icahn took a new stake in conduent and increased its position in navista and herbalife and soldut of allergan. warren buffett doubled its investments in apple. george soros took a stake in snap ink, also sold amazon, abbott. green light cut its stake in apple, rite-aid and time warner. they also hiked stake in gm and xwra hu yahoo! dropped position in yelp and took a new position to micron. >>> jeffrey immelt is pouring more money into his own company. he bought another 100,000 shares of the dow component yesterday for roughly $28 per share each. immelt now owns more than 2.5 million ge shares. ge has had a difficult start to 2017. >>> the top story out of washington, the white house denying reports that president trump shared highly classified intelligence information with russian officials. tracie potts has more. >> good morning. the report says that the president shared information that perhaps russia already knew, but the intelligence ability lie wally who gave us that information did not give permission for it to be shared. now there's concern that we will not get informati

including staving off from carl icahn and dell's take on the trump administration's tone on immigrationl be right back. >>> it was a lot harder to go private than it was to buy emc and gain control of vm weare as well. but it was absolutely worth it. >> did you ever think you might lose the company? >> yes. wifi. we literally cannot live without it. and if we can't live without it, maybe it's time to reimagine it and make it even better. so it's awesomely fast. no. still nope. now we're talking. so it works here and here and here. and so you can even take the occasional time out. nooooooo! yes!!! yes, indeed. speed, coverage, control. introducing xfinity xfi. find your awesome and change the way you wifi. >>> the trump administration's policies on immigration and manufacturing, michael dell has been to the white house to meet with the president. i asked him his thought us on whether it would be b possible to move dell's manufacturing back to the u.s. and whether the president set the right taupe on immigration. here's more. >>> we're having those discussions with the administration and

. >> is that the thing carl icahn assassinates. >> well, i don't know what mr. icahn hates.ut a few things. >> is that the reason we have ethanol in the gasoline? >> the reason ethanol is in the gasoline, which is not our product, is to have okctane to have ntbe. it's the run cleaner. >> you've lost me. sounds like that's something this administration also supports. daniel oh joining us. thank you very much. >> are you sick? you're okay, right? >> i'm okay. i'm all right. >> coming up, some final thoughts from -- today final thoughts. >> today final. >> it's scary. you don't know the time or the hour. >> final thoughts from jason. you look fine. and house ways and means chair kevin brady is our guest on "squawk box." the power of a low volatility investing ap. the power of smart b power your clie's portfolio with powershar. before investing, consider the fund's investment oectives, risks, chaes and expenses. call 800-983-090 for e prospectus containing thiinformation. read icarefull distbuted by invesco distributors inc. >>> welcome back. time for jason trener's final though

it is one of carl icahn's stories. >>> the market cap passes $800 billion for the first time ever.ech giant up a staggering 30% in 2017 alone. dom chu is back at headquarters with a look inside apple's core. hey, dom. >> melissa, there used to be only one big apple and you're sitting rights in the heart of it over at the nasdaq market site. but these days the rest of the stock market is driven more and more by what's happening with the iphone and ipad maker than it ever has before. shares managed a new record interday high today. they've been on a tear over the last 12 months. they're up 64% during that time frame. record high stock price, record high market value as well. we're hovering just around that psychologically significant $800 billion market cap level. apple stock now accounts for about 3.8% of the overall weighting in the overall s&p 500 index etf. that's more than a percentage point. a full percentage point higher than the next highest weightings, both of the alphabet share classes combined and microsoft after that. during the course of history, that's not nearly as sig

i think when you bring up carl icahn, it's about buybacks and use tack cash. >> i don't think that's a problem. this is more of a management problem they need to have those changes. and that will take a lot more. >> we are throwing that term dogs in the down. that's something to be used late in the fourth quarter to outperform the next year. we're using it as an expression. i think it would be way too soon to take a look at the lagers. >> a lot can change. >> okay. if you think of the rotation the big cap, and that, going into stocks that haven't worked at this stage of the game makes little sense to me. i think you want to do it much closer to the end of the year. >> ibm you stay away from? >> yes, that ceo has to be on the hot seat. who runs watson? >> what is watson? they got great commercials outside of that, is it bottom lining with the watson? >> listen, it's a cognitive solution. they're trying to sell, you know know, to customers as a service, they have a tiny percentage of their sale. i think he told you last week it was a joke or a couple weeks ago. >> but his initial insti

you want to hold this as long as the stock market gets better, it's great for kkr, great for carl icahn, we want to hold on to blackstone. they're all good. how about steve in missouri? steve? >> caller: this is a big boo-yah from brother jim's church of cramerica. i have invested in amazon, and due to that, i have tried to concentrate my online purchases to amazon, but i've noticed that amazon appears to almost always limit free shipping to prime members. so i found the same things on other sites, mostly ebay, that ship for free. so due to this, i'm questioning amazon's is online selling. i know it's only part of amazon, but it's what the company was built on. what do you think? >> no, i think amazon is fine. it's -- you know, it's a great revenue growth story. it actually had good profits last time. i prefer it to ebay. ebay had a so-so quarter. i say stick with amazon. all right, ready, set, rotate! we saw the recession stocks rally today and that will happen until oil turns. but you know what, tomorrow's non-foreign payroll number will give you a new slate to draw. on "mad" tonight,

it's been five years since icahn almost took out and he managed to get back. >> being private i'm guessing. >> also had time at the white house lately. >> four year, it has been. have a great weekend, guys. mike, thanks for joining us. now, let's hand it over to the half. back at headquarters. >>> top trade this hour, big black and blue. ibm shares falling on news warren buffett has sold a third of his stake in the company. what does it mean if you own the stock? with us for the hour today, jim, john, steve weiss here as well, so the erin brown. also with us today from minneapolis is pete. let's begin with shares of ibm under big time pressure today. pete, you own this stock. i'm going to you first. when buffett buys, we always call it the greatest endorsement you can get. isn't this the biggest indictment of ibm that you could find? >> i would say that an indictment, but he didn't completely sell his entire position. he sold 30%. at 180, not 160, so the reaction we're seeing today is an overreaction in my opinion, scott. because $160 stock got into the 153 range, now, i think it's around

eight democratic senators are calling for an investigation into carl icahn, a billionaire investor and one of president trump's closest advisers. the lawmakers urged three federal departments to look into whether he may have violated insider trading and market manipulation laws. >>> eight members of a penn state fraternity were arraigned on tuesday on charged related to the death of 19-year-old timothy piazza in february. charges include tampering with evidence and furnishing alcohol to minors. >>> in sports, it was a mixed night for the san antonio spurs. they beat the rockets in overtime to take a 3-2 series lead, but mvp candidate kawhi leonard hurt his ankle. that is a big problem. he says he will be ready for game six on thursday. i hope he's acing it. >>> senate democrats are gathering right now on the senate floor one day after the surprise firing of fbi director james comey. they're waiting to hear what majority leader mitch mcconnell may say as he opens the senate for business, which he does every day. i want to take you live to capitol hill and nbc's mike viquera. chuck schum

alix: the other issue is carl icahn. in aviously is an investor refinery. having to pay certain credits to meet epa rules. he wants to move that cost from refiners to fuel blenders. how does that affect you? todd: there are a few refiners who want to do that, but the bigger coalition in place is large and binaries -- large refineries, convenience stores, avon epss do not move the point of obligation. you have a few people looking for relief, but in general, the program has worked and works well. the point of obligation, changing it at any point now, increases havoc on the market. we think the president understands that. the last time we talked about it, 10 or 12 markets moved around the world just on discussion of it. last year, the epa issued 23 waivers for small refiners to give them relief on the cost of the program. so you can get relief. isx: the ones icahn involved with are not small, and he does not back down over anything -- take a look at what happened over life. a change, if you see in the point of obligation, how does that affect your? do you loo