. >> finally, karl icahn will be a guest here later today. does he have anything to worry about from your office. >> i have no comment having to do with your guests on your show. >> up don't want to comment on any of our guests. >> no. >> thank you very much. u.s. attorney for southern district of new york. back to you. >>> nice try with karl icahn. a lot more coming up from delivering alpha. that was a good one. >> it was a good one. yeah. karl icahn coming up in about two hours. >> also coming up on the show, time warner turning down a big offer from fox. surely more offers could be coming in this industry. which companies should you be looking at. look at potential buyers and sellers and a lot more from delivering alpha all coming up on cnbc. >> today's big story, rupert murdoch company making a massive bid for time warner. time warner reject that offer. sore broke the story this morning for cnbc. that story is a hot topic at the delivering alpha conference. take a listen. >> time warner great assets. hbo, warner studios, content is king.

throughout the day, cnbc broadcasting live right here coming up later today i'll be speaking with karl icahn definitely you do not want to miss that. let's do some final trades. josh brown, we'll start with you. >> who could argue with lee cooper. >> doc? what's your pick? >> conoco phillips. >> joe what do you see? >> range resources. i actually put it into my playbook today. >> all right. that does it for us. "power lunch" begins after this short break. my motheit's delicious. toffee in the world. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. i never really thought i would make money doing what i love. we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. humans. even when we cross our "ts" and dot our "i's", we still run into problems. that's why liberty mutual insurance offers accident forgiveness with our auto policies. if you qualify,

this is a big win for karl icahn owning 9.4% of the shares. so you have triumph management opening 7.3%. and john paulson and company 5.7% onnership steak in family doctor as well. so the van guard there obviously doesn't have their funds here. john paulson looks to be whipping big. dollar general is twice the size of family dollar. the market cap is $12 billion. family dollar's cap is $6 billion. dollar tree is twice as big obviously using family dollar as 11% decline over the past few years. so. >> management is saying, from dollar tree, that this acquisition will extend their reach to lower income customers. and they say strengthen and diversify the store up front. >> you know who this puts pressure on as well. >> walmart is trying to expand into smaller stores, not the super sized stores, and with the head of walmart's u.s. stores just stepping down last week, there's been a lot of questions about the strategy or if she'll continue to be smaller with these stores. >> jim tweeted out both compa companies here, now you've got this national f

we shorted it before carl icahn got involved and had ridden it from $140 down to $70. when karlling off his position, we started moving in. it's one of our weakest rated stocks in our universe that we look at. >> all right, great. hold that thought for a moment. we want to now bring in mike olson from piper jaffray. mike, i don't know if you just heard brad's remarks or want to weigh in with your view on the shares here in light of what netflix just announced. again, they beat slightly on revenue, $1.34 billion. they announced they crossed the 50 million subscriber threshold. they're coming to germany and france in september, but brad is concerned that they're not generating the free cash flow they need to be generating at this point. >> yeah, i understand those concerns. you know, i think in general, right now investors are just focused on specifically sub growth. and so, if they continue to drive the sub ads, that's going to be what drives the stock. i think longer term, this is going to turn into a story that's more about, you know, cash flow and valuation and things of that