let's get straight to our big guest, starboard value ceo, jeff smith. welcome. good to have you on the show >> great to be here. thanks for having me >> we definitely are going to talk individual stocks and your positions, but have to start with a broad question. because we have got this unusual thing happening. the yield curve is about to invert, the twos/tens. the stock market is rallying do you see that as a signal of recession? is that something you see in the companies you're involved with >> yeah, again, sara, great to be here. great to be with you you know, from our standpoint at starboard, what we look to do is look to invest in companies we think are undervalued. you know, the overall macro environment, of course, comes into play, but it comes into play in terms of how we look to analyze companies, how we look to think about their future earnings how we look to think through the volatility of the potential results of those companies and you know, uncertainty creates a larger gap in the variability as it relates to the future prospects of those businesse

. >> reporter: erin smith says her husband, jeff smith, had no or o mentalness ordeession,rean 6th. >he was a jokester. >> reporter: d.c. police officer jeff smith had a family he loved, a dog he lovd, and his wife, erin, told us a career he loved. >> being a police officer. it was his calling. >> he knew that's what he wanted to do and should be doing? >> he did. >> usa! >> reporter: but he had no idea what awaited him on january 6th, 2021, when he and his riot unit raced to the capitol. body camera footage obtained by cbs news show jeff arrived on the frontline as ashley babbot was shot and killed. >> the first thing he could remember hearing was shots fired. >> reporter: how did he characterize snit >> he characterized january 6th as the worst day of his life. >> reporter: after hours of fighting off the mob, he returned home early morning with a black eye and darker mood. >> i went to sleep and the next day his demeanor changed. >> what changed? >> he didn't want to talk. he was pacing at night and during the day. >> sleeplessness? >> sleeplessness. the jo stopped. the dancing aro

. >> jeff smith. >> and prices in saudi arabia and -- [indiscernible] >> mr. speaker, wednesday we talked about the people. and you never digest them. that is so much how the polish people have stood up against aggression over the years. and ukranian people. [indiscernible] >> but that will also support those countries in the close proximity to ukraine and neighbors and first and foremost. >> the 20th april, the prime minister in the castle in italy where he met a former k.g.b. officer and this is after weeks he attended a summit and in security detail and complete failure of national security. [indiscernible] >> in addition, my constituent concerns, ukraine, also concerned about planning, i asked the prime minister in october of 2019. and against public interest and that is built on. and made a decision which will wipe away local couple. can i ask if the prime minister will see me and the government will revoke the decision? >> and someone with a massive proportion and the frustrations and honorable members that there are planning decisions and one decision i

let's get right to jeff smith from wabc in new york. millions are on alert again for more severe weather? >> reporter: a new winter storm sweeping across the country will bring the threat of severe weather and heavy snow. winter weather advisories for iowa all the way to the chicago metro area. for the south, a tornado watch. oklahoma, arkansas, into missouri into 8:00 p.m. local time. the storms fire up over the next few hours, last through the night, and move to the east. exiting the east coast later on tomorrow. bringing some heavy rain to the northeast. the biggest threat for severe weather tomorrow, alabama to west virginia, maybe some gusty winds. and ahead of the storm, record falling along the east coast, and we could do the same tomorrow. linsey? >> jeff, thank you. >>> still ahead, news on easing covid restrictions. >>> and new details on the cause of the fast-moving wildfires in the florida panhandle. does sinus congestion and pressure make breathing feel impossible especially at night? try vicks sinex. unlike most sinus trea

we have a great show coming your way including an exclusive interview with starboard value ceo jeff smiths. plus, we'll talk to the ceo of nikola in his first interview since announcing the start of production for nikola's electric trucks the stock is up 40% in the past month. but first, here's a look at where things stand in the market a 1% gain for the s&p 500. we're going st

i spoke with their ceo jeff smith about it here's what he said. >> kohl's is an underappreciated businesssh flow and it's a company that we really would love to own >> no word on timing of this overall process. shares of kohl's are lower by about 1.5%, and we should note they have not yet responded to cnbc's request for comment on this new shareholder letter today. >> up next, amd sinking on a downgrade, taking the chip sector with it, and walgreens falling despite posting an earnings beat. those stories and the final moments of the first quarter of the year when we take you straight inside the market zone. (mom) delightful. (vo) with no trade-in required. plus, 1,000 dollars to help you switch! (dad) nice savings! (vo) yeah it is! verizon is going ultra, so you can get more. when it comes to cybersecurity, the biggest threats don't always strike the biggest targets. so help safeguard your small business with comcast business securityedge™. it's advanced security that continuously scans for threats and helps protect every connected device. on the largest, fastest, reliable network with sp

huntsman the full company slate of ten nominees was elected with none of the four nominees including jeff smithist has said that they believe change is warranted in the boardroom to hold management accountable. shares trading lower on those headlines. since star board filed the 13-d disclosing more than an 8% stake ands are now trading about 12% slower huntsman announced several new directors in an effort to refresh the board ahead of today's vote in response to today's -- huntsman said in a statement just released moments ago, the outcome of today's shareholder vote is recognition that the huntsman of today is vastly different than the huntsman of five years ago also in activism world, bed bath and beyond, the chewy founder's directors will be on board to explore potential alternatives for bye-bye baby the deal was in the works for only a week. it happened pretty quickly and there is already treatic and financial interest for bye-bye baby and so rc ventures could run a proxy fight if the company doesn't deliver. cohen who owns just shy of 10% of the company urged the consideration of the sale

. >> reporter: reverend jeff moore says will smith's response to rocks a joke and that his about his wife's closely cropped hair, regrettably reinforces negative stereotypes about black men. hot tempered, lacking a reasonable response to the situations. it should never have escalated to a punch or a slap. >> i would hope that if anything he would have walked out and said maybe, hey man, apologize to my wife, you know, or something, right? but, to go to violence was not the answer. >> reporter: others felt there was blame to go around. rock, for the insensitivity of the joke and smith for the inappropriateness of his response. >> i think there's culpability on both sides. chris rock chose his joke, of course he is a comedian, we give a certain amount of license to comedians. but, come on. insensitive comments to trigger a response like that? then you have a bully up on stage to slap you in the face. >> reporter: the criticism on social media was swift. one person wrote, violence isn't the answer after a joke. as for will smith saying that love makes you do crazy things, i've heard tha

jeff rosen commented on smith's retirement , saying, quote we will soon have a new sheriff. this county deserves a sheriff who has the highest integrity and the trust of the community to protect and serve fairly and professionally. a mummified body has been found inside the old kaiser convention center in oakland. construction crews working to revitalize that facility made a disturbing discovery. ktvu is cristina rendon joins us. now she's in the newsroom with more on the investigation. christina well, julie, we can tell you that police are still looking into this. they do know that the man was found behind a wall in a space 15 inches wide, and they think he was in the ceiling of that building and somehow fell into the cavity and died. construction crews working to restore the old kaiser convention center in oakland or back on the job thursday, one day after discovering a decaying body behind a wall and they were taking down a wall and he was discovered behind. this will dry walls flashy within the wall, so it's doing a demo. oakland police lieutenant frederick shaves tells

but is it going to make a dent in our kraut in jeff ranieri joins us with some answers. [ laughter ] >>> oh, wow! >> yep, you have seen it. will smith apologizing for slapping chris rock right there on stage at the oscars. we are live down in l.a. with the latest on the fallout. >>> also be talking about why "coda" winning best picture last night is a big win for the silicon valley. >>> and understaffed and overworked. we investigate how problems at pharmacies may be impacting your prescriptions. good evening, i'm raj mathai. the slap isn't going away. our will smith apologized it chris rock and how apple beat netflix to the punch at the oscars. let's start on this march 28th with the rain. we needed it desperately. at this hour the storm is on its way out of the bay area. you can see the tail end, still green there from our stormranger late today. did we make a dent with the drought? that's the question. jeff is with us now. it came down at my house this morning pretty hard. >> yeah, we didn't get a lot. we are seeing some areas of rain over contra costa from conquered to pleasanton. a quarter to an inch, the north bay the highest,

but is it going to make a dent in our kraut in jeff ranieri joins us with some answers. [ laughter ] >>> oh, wow! >> yep, you have seen it. will smith there on stage at the oscars. we are live down in l.a. with the latest on the fallout. >>> also be talking about why "coda" winning best picture last night is a big win for the silicon valley. >>> and understaffed and overworked. we investigate how problems at pharmacies may be impacting your prescriptions. good evening,

smith posting her message. >>> and he started with 40 laps up mt. tam. so, did he do it? >>> i'm jeff ranieri. we did manage to get sunshine today. we'll talk more about cloud clouds for tomorrow. >>> in our series, "saving san francisco", we investigate how the tech capital of the universe is struggling with crime, poverty and a lack of affordable housing. you can stream brand-new episodes every monday. download the nbc bay area app on roku, apple tv, amazon fire and watch online at nbcbayarea.com/saving san francisco. >>> the third and final bay area man charged in california's infamous chowchilla kidnapping has been approved for parole. he was 22 when he and two brothers and friends hijacked a school bus and drove it 100 miles to a livermore quarry. the 26 students and their bus driver were put in a moving van and buried underground. they couldn't reach police. frantic parents tied up the phone lines. after 15 hours under ground, authorities were able to dig them out and they were all saved. >>> jada pinkett smith posted on instagram, this is a season for healing, i'm here for it. this is a

jeff pegues. >>> this is cbs news flash. i'm tom hanson in new york. will smithizing to chris rock after slapping the comedian at the oscars. rock told a joke about will smith's wife, jada pinkett smith. the 53-year-old said his behavior was unacceptable and inexcusable, and that violence in all forms is poisonous and destructive. >>> russia and ukraine are continuing another round of peace talks in istanbul. russian troops have largely lar stalled across the country, but the shelling rages on. a spokesperson for the kremlin says the war in ukraine is not a reason for the usage of a nuclear weapon. >>> one california canine had a rough day after heavy rain swept him down the l.a. river. fortunately after nearly two hours, rescue crews got the dog out of harm's way. for more news download the cbs news app on your cell phone or connect to tv. i'm tom hanson, cbs news. >>> it's tuesday, march 29th, 2022. this is the "cbs morning news." >>> i was expressing the moral outrage that i feel, and i make no apologies for it. >> no regrets. president biden defends his comme

smith's decision to exit next year. this county deserves a sheriff who has the highest integrity rights district attorney jeff rosen. this is an opportunity for new beginnings. we've got to keep the public safe and reform the system. according to supervisor joseph median, perhaps she has outlived her usefulness as the leader of this very large, very old agency, the sheriff says she's leaving on her own terms and is excited about the next chapter in her life. she's hopeful the slings and arrows she suffered won't harm the office. she's led for nearly a quarter century. in the long run, we'll see the truth. in san jose jesse gary ktvu, fox two news there are at least four people hoping to become the next to santa clara sheriff. the candidates include santa clara sergeant sean allen, retired santa clara captain kevin jensen , paolo alto police chief bob johnson and santa clara. sergeant christine a. gay. well out to ukraine tonight. we're russian airstrikes are pounding cities bearing down on the capital of keith with air raid sirens hurt once again. this is just some of what people south of key face tonight. russia ap

smith's decision to exit next year. this county deserves a sheriff who has the highest integrity rights district attorney jeff rosen. this is an opportunity for new beginnings. we've got to keep the public safe and reform the system. according to supervisor joseph median, perhaps she has outlived her usefulness as the leader of this very large, very old agency , the sheriff says she's leaving on her own terms and is excited about the next chapter in her life. she's hopeful the slings and arrows she suffered won't harm the office. she's led for nearly a quarter century. in the long run, we'll see the truth. in san jose jesse gary ktvu, fox two news russian forces continue to expand their offensive in ukraine village about 30 miles from the capital sustained extensive damage in a bombing by russia, including homes, a restaurant and movie theater. the u. n says more than 2.5 million people. have now fled the country. ukraine's president said in a statement today that his forces will prevail over russia is faxes. lauren blanchard reports. president biden echoed that statement as he announced new sanctions to target russ

smith's decision to exit next year. this county deserves a sheriff who has the highest integrity rights district attorney jeff rosen.s is an opportunity for new beginnings. we've got to keep the public safe and reform the system. according to supervisor joseph median, the sheriff says she's leaving on her own terms and is excited about the next chapter in her life. in san jose, jesse gary ktvu, fox two news there are at least four people hoping to become the next to santa clara sheriff. the candidates include santa clara sergeant sean allen, retired santa clara captain kevin jensen , paolo alto police chief bob johnson and santa clara sergeant christina gay. alameda county's district attorney spoke out today against the practice in san francisco that allowed the dna of a sex assault victim to be used in trying to solve other crimes. nancy o'malley called that action by the san francisco police crime lab. unconscionable she went on to say no crime labs should ever create or maintain a database containing the victims. survivors dna for comparison and efforts to solve other crimes. victim telling ktvu. her trust was be

smith. could you give an update on their thinking ? >> it's a pleasure to be here with wendy with feedback in person with everyone. as jeff said, we recently responded to questions on two ranking members from the house budget community and finance committee. they're interested in inflation and interest rates, elevated inflation and the possibility of higher interest rates on the physical trajectory. that's where it doesn't work. we have more work coming up this week on thursday and friday. it's focusing narrowly on that. it's an elaborate scenario and one can imagine market scenarios but it's focusing on what happens if scinflation is higher. and taking it from the blue-chip, from some exogenous sources. our last economic update was in the first half of last year and obviously a lot has happened in the economy since then . and we are working on a new update. thinking about higher interest rates with those spending and revenue and all of it is a component. what's interesting is higher inflation affects both revenue. where the tax system, much is indexed in various ways of inflation but not all of it and that indexation hap

smith was asked to leave the ceremony and refused," which is a new nugget. i don't know who asked him to leave. maybe jazzy jeff[ laughter ] "hey, jazzy could you pass along a message to will?" can you imagine? who would have accepted his oscar if he had been thrown out? chris rock, maybe? [ laughter ] i don't know. you know, usually when someone is asked to leave and refuses to go, that's when security comes in and takes that person away. but in this case they decided to give him an oscar and let him back on stage. [ laughter ] we're all feeling the repercussions of this slap. it's not just chris rock. my jaw hurts just from telling so many jokes about it. [ laughter ] many notables have spoken out and condemned both what will smith did and those in the audience who gave him a standing ovation after he did it, including a famous athlete who's been the subject of some chris rock jokes himself. >> will smith, chris rock. it was unfortunate. i think will was wrong. look. i understood the feeling. now, in my life, i've been through a lot of crap, and i was raising two young kids, and every comedian in the country

jeff bezos >>> on wall street, the dow up 254. s&p up 50. the nasdaq up 270. nearly 2%. tesla with a volt for the tech index, its stock up 8% today >>> i'm shepard smith on cnbc. it's the bottom of the hour. time for the top of the news >>> meet the americans on the ground in ukraine defending what they say is everybody's right to live >>> russian oligarchs stashing their assets where they can't be taken, including in a mountain lair in colorado we'll give you a look at the place. >>> first, the u.s. and nato weighing new action to counter the russian invasion. >> and president biden considering making the heightened u.s. troop presence in eastern europe permanent. nbc news reports the president could announce the plan when he visits nato headquarters in brussels on thursday the pentagon reports no final decision on that matter has been made last month the administration deployed 2,000 troops to shore up nato's eastern flank near ukraine. that was in addition to the thousands of u.s. troops already stationed in the region. nato could have an announcement of its own u.s. officials say the alliance could be ready to add new battle groups and the new che