we have that interesting story with leslie picker when "wex" rolls on get domo. connect us to everything that's going on in the company. get it for jean who's always cold. for the sales team, it and the warehouse crew. give us the data we need. in one place, anywhere we need it. help us do our jobs better. with domo we can run this place together. well that's that's your job i guess. ♪ hello. give me an hour in tanning room 3. cheers! that's confident. but it's not kayak confident. kayak searches hundreds of travel sites to help me plan the best trip. so i'm more than confident. forgot me goggles. kayak. search one and done. >>> stocks continue their push higher today trump trying to temper trade tensions most stocks around the world are higher today but forget stocks, shall we? can you name the best performing real asset this year it's not a stock at all, it's your morning rbi and it's coming up. >>> and performance problems, why alpha males may not deliv f testosterone and stock returns "worldwide exchange" rolls on. ♪ >>> welcome back thanks for being with us

leslie picker has the highlights >> tech and long tech was a common trend among many presentations.hamath palihapitiya touted box, known more as a cloud story company. his stake is that it was best positioned to capitalize on the artificial intelligence trend. box closed up 11% higher after chamath palihapitiya's presentation and two investors pitched long in food delivery companies alex captain of cat rock capital pitched takeaway.com which is the amsterdam listed version of grub husband glenn catcher of light streak pointed to palo alto as a way to capitalize on a cyberwar, which he said is the next financial crisis then jeff gundlach suggesting that investors go long xop, an oil and gas etf, but this is the key, short facebook. he highlighted the regulation overhang as a factor and said there is never one cockroach in the kitchen, meaning he thinks facebook will have more to apologize for in the future. >> got to love the always outspoken jeff gundlach comparing facebook to cockroach. what i do make of that i won't ask you to talk about oil, but short facebook? cockroaches? >> i

. >> leslie picker will be there all day.ou've got 22, there's going to be a lot of stocks on the move joe, i don't know what you think about the art, the pain, the challenge, the opportunity of short-selling and the cost >> and the cost. if you could speak to that >> yeah, i think pain sort of covered sort of the financial cost but also, it can be mentally very tough so, generally speaking, i tell most young guys, you should steady short-selling it's really important to understand it when you're thinking of going long the stock anything that has more than a few percent short interest, short-sellers pretty darn smart because they have to be to survive. that said, i advise most young people don't do it it really requires a lot of expertise and a certain type of resilience mental toughness, financial deep pockets, et cetera. >> you say resilience, it really is the staying power just coming off the conversation about channos and tesla. that is a trial example of not having the stock go your way and having the resiliency and a wh

our leslie pickers live in the newsroom with all the details.. >> hey, melissa, carl icahn in selling mode they were selling tropicana entertainment which owns casinos and resorts for $1.85 billion. gaming and leisure properties. a reit is buying the real estate while a colorado resorts is buying the hotel and gaming operations the deal comes after icahn sold federal mobile for $5.4 billion last week. the two deals comprise $7.3 billion total compared with less than $1 billion worth of asset purchases this year. 2018 represents the largest value for icahn sales, going back at least seven years, according to data pulled by idea logic. does carl icahn know something we don't know about the markets? he said multiple times he didn't like to predict whether the market will go up or down in the short-term but take a listen to what he said last month on cnbc. . >> i am somewhat, as i've said before, somewhat concerned about the overall market i think there are a lot of variables that you have to worry about. but i've said -- you know, i think -- i thin

wage disparity has become part of the national conversation, and so we ask leslie picker to take a looke nation's gender pay gap. >> reporter: the figure most mmonly cited is20%. women's median earnings br abo 20% below that of men. that 20% adds up over time. it equates to about $400,000 in lost wages over the course of a for millions of women pay parity would bring thembove the poverty level, that's according to a study published today b lean in and survey monkey. about a third of people did not realize pay gap exists. rachel thomas says that gender bias is to blame for much of the wage gap. >> we ask americans why they think there's a pay gap and 60% said they thought it was because of sexism or unconscious byes and they're right. a big piece of this is what's happening in their work place day to day. this isn just about awareness, it's call to action. omen have less access to mentors and ronssponsors. they're promoted ls frequently. >> a large explanation is due to the idea that predominantly malk fields t construction and transportation garner higher earnings than predominantly fem

i'm leslie picker here from the sohm conference in new york. their age and a lightning round series of questions whether he's be long or short, a variety of big name tech stocks bill gurley invest privately in most countries so it's not an actual book that he's talking about here i wanted to get you up to speed on his thoughts, bull/bear case for each of the following companies. facebook, amazon and spotify he liked. he would be long on those companies of the google, he was a bit more sceptical about that company, about the search lines. he stopped short of saying he would actually go short that company. in terms of elon musk and tesla. he said that he would be more in favor of buying something on a bond structure, a convert be bonds in order to participate in the upside but protecting the downside due to the riskiness that he thinks surrounds elon musk and interestingly enough, he talked about hertz and he said that he does this with some trepidation because of carl icahn and this harps back to what we expect to read about in scott wapner's bo

let's bring in leslie picker, it is interesting to hear him laying out his case every turn, is it nvidia or alphabet and then it was box? >> reporter: that was quite the surprise there the response from the investing community on the pick. of course, he had a tremendous track record from his pick at sohn and now of course, box. as you mention, he looks at this as an a.i. opportunity an opportunity that he sees as kind of the next phase in the tech community and the '90s, it was all about being computer/internet company and 2008 was a mobile company and next wave is a.i. and box's best position to capitalize on that he points out box's low market cap relative to other big tech company involved in a.i. and data storage he talks about how box's a.i. revenue is 90% grosse margins and tremendously high and new opportunity for that company i want to point out because palipapitiya facebook executive long ago gundlach urged him to go long on the oil and gas and short facebook he pointed out and said this was a riskier trade and certainly an interesting recommendation of what we have seen with fa

term and possibly to join deutsche bank has a new job as president of capital management, and leslie picker has more. >> that's right, it's part of restructuring or reconfiguration. the $30 million firm presented bruno to president from co-ceo what's truly making more than wall street today is cerberus in general. was anyone else considered for the role what happens if zames opens his own business as for succession, i'm told by a person familiar, fineberg is not going anywhere any time soon and spearheading financial services investments, namely banks in germany like deutsche bank, which they just recently purchased. zames focuses on risk management technology and regulatory issues, the coo roles he had in the past as for other candidates, sounds like there were not any. they were not in serious discussions for others in the specific role of president, i'm told last summer, he told "new york times" he wanted to start his own business, but now he's spendsi spending since them at mit guys >> leslie, fascinating aspects to the story one is the deutsche bank one, which, of course, seeing a new

let's get to leslie picker. >> it is a timely letter some investors might be nervous about a looming trade war. larry fink says china is a prime target fink will outline three main trends that in his words could, quote, dramatically reshape the firm and the industry. one is opportunities in china. the other two are changes in the global retirement market and the increasingly powerful role of technology we have reached out to blackrock for a copy of the letter but buy have not heard back at this hour. >> it's interesting about whether this trade dispute impac impacts. you should look at financial services sector, not just black rock as you point out, leslie. modys and the s&p rely on the china business. >> if you look at the asset industry and the financial industry as a whole, it's one that's grappling with new industries china has been one of the few pockets that has seen in flows in recent years. so a lot of these organizations have been finding unique ways to get into the chinese market to trade in local currency, to trade with chinese money it's been challenging to do so historic

symbolizing how far into the new year women must work to earn the same as what men earned last year leslie pickerth more this is always fascinating stuff and riles me up a little bit no offense, dom. >> none taken. the purpose of equal pay day is to spread awareness of the gap in earnings between the two genders. now based on median earnings, women make about 20% less than men. that equates to $400,000 in lost earnings over the course of their careers, and 74 weeks worth of groceries just to put those numbers into perspective the pay gap becomes wider for women of color with black women earning 38% less than white men and what latinas earn. at the current rate women's pay won't be in parity with mens until more than a century from now. the gender gap is different for equal pay for equal work a large explanation is do you to occupational gender segregation, so predominantly male fields garner higher wages. activists say raising the minimum wage is one way to help narrow that gap. another run is motherhood penalty. employers have been less likely to hire mothers than fathers, even those who never l

leslie picker, what's happening. >> announced a $12 billion share repurchase program just moments agostock rallying on that news today. they say the authorization is effective immediately until november 3rd, 2019 the cfo speaking in a press release how it enhances capital allocation strategy, but you can see the stock is up about 4.25%. back to you. >> it's a big deal just because people beat up on him for pursuing qualcomm, but now a capital -- >> a $100 million company, more than 12% of the value of the company, also sends the message to the market likely that they are not an aggressive buyer of something else >> exactly right the strategy in the story shifts a little bit, but you know what you're getting, more of a value story, buyback story, that, you know, it's not massive, but positive for the share >> nancy, last word to you on this >> quoting my friend, look at the fundamentals this noise in the interim is an opportunity for those of us who have a time horizon longer than 20 minutes, so i still like old tech and industrials and financials, and we're actually overweight energy

leslie picker has the details. einhorn trade what is it. >> the last investor presentation of the day, david einhorn calling for investors to short assured guarantee ticker ago. that company, of course, a bond insurer which he says the auditors and regulators have missed some of their malfeasance. it's like a melting ice cube paying out the drops while it's still can. as you can see the stock down more than a half -- 1.5% in after-hours trading. back over to you. >> thank you very much, leslie. our producer reminds us, ackman shorted mbia that idea was also unveiled at the sohm conference many years ago. this is interest. >> one of david's greatest picks was allied capital years and years ago. he wrote that book on fooling all the people, something like that. these very tricky ones, i don't know what to make of it. he's a really smart guy. i would not bet against him. >> yeah. >> pretty significant move, this was a $45 stock in the summer. it's 35 now. i don't think mr. einhorn is looking for a move to $30. he's cl

. >> for that and rest of our news before the bell we go to leslie picker leave from cnbc. >> wall street is set to open higher after stocks sold off on friday. the dow ended the session in correction territory on continued concerns about the potential trade war between the u.s. and china. we get data this week on inflation minutes from last month's fed meeting and earnings season officially gets under way with results from jp morgan chase, citigroup and wells fargo. on friday the dow fell 572 points to 23,932. youtube is being accused of violating u.s. laws aimed at protecting children's privacy online. a coalition of nearly two dozen campaign groups are set to file a complaint with the federal trade commission today. the complaint alleges youtube is in breach of the law because it features a wide variety of programming aimed at children under 13 and allows advertisers to target kids. reports say youtube plans to release a new version of its kids app where parents can turn off computer generated recommendations and only see channels cureated by humans. >>> apple will reportedly announce

. >> leslie, thank you leslie picker. bogart -- variety of crypto assets thanks for being on the show. >> thank you for having me. >> do you believe in this bounce >> yeah, listen, i'm not ready to call the end of a bear market i think there could be more regulatory shoes to drop but i think the tax selling has been a real thing but it has accelerated over the past few weeks so i'm not surprised as we get closer to tax day that that selling pressure is easing. >> we like to play games so we thought we would have fun with you if you're willing. >> i love games. >> we wanted to play a game called crypto fact or fiction. here are the rules i'll read you a statement. you tell me if it's fact or fiction. got it >> all right. >> first up, fact or fiction -- tax selling is behind the recent bitcoin decline. >> fact. absolutely i think people realized way more taxable gains in 2017 than they expected to and now with crypto prices down 50% from their highs people have to sell twice as much crypto to cover the taxes. >> next up, fa

several big-name investors revealing positions in key stocks let's get to leslie picker who was tracking all of it yesterday. hey, les >> hey, scott. tech and long tech that was a huge theme at yesterday's events investors sent shares of companies from grubhub to palo alto networks, those shares were higher after fund managers pitched them as stock ideas. shares of box saw the biggest move take a look that while box is known more traditionally as a cloud storage company, chamath said it will one day be in a great position, poised to be a liter in artificial intelligence. box surged 11% yesterday now, one trade that became a topic of conversation throughout the remainder of the day was jeff gundlach's pitch to short facebook while going long oil and gas etf. one he described as risky. he said the idea stems from his expectation for more regulation around facebook. now, outside of tech, larry robins of glenview renewed his bullishness on the drug distribution industry, arguing that amazon is not a threat to traditional players. he touted long plays in mckesson and cigna express scripts and

. >>> welcome back the ideas are coming fast and furious at the sohn conference leslie picker has a couplere just dropped onstage. >> coming fast and furious, and moving markets already i want to give you updates on what's going on in the conference john quarry, long pond capital, pitched a long idea for deal important, he says, that the company has -- they do a lot of home building, but they don't own as much land, whereas the typical home builder will own about 4.5 years. that's a good thing. they're creating a publicly traded land company called forest star. as far as interest rates go, which he calls the elephant in the room, interest rates can move about 100 basis points before really impacting the home building environment he said it's still definitely a buy at these levels. the stock up almost 1% there also, half sky capital, she pitched grubhub today. that stock up about 2% on some of her comments, which she calls the company that enables hungry but kitchen challenged people to get fed. i can relate to that personally. she points to grocery stores which have slid in the face of del

today is the 19th, 21, 20, 22, 23 >> i got that right. >> you got that right. >> thank you to leslie picker think about. >>> when we come back, amazon's ceo jeff besos is revealing there are 100 million prime members world wide we're going to talk to an analyst about the retail giant >> that is straight ahead. >> you know the greatest hedge fund - it took guts to start my business. but as it grew bigger and bigger, it took a whole lot more. that's why i switched to the spark cash card from capital one. with it, i earn unlimited 2% cash back on everything i buy. everything. what's in your wallet? >>> president trump vowing to step up trade talks with japan is a bilateral agreement in the cars stocks around the world reacting to last night's news conference the latest straight ahead. it's prime time for amazon, membership hitting the 1 million mark we'll get you ready for the next earnings report. proctor and gamble announcing a deal in the health care business straight ahead the second hour of "squawk box" begins right now. [ music playing [ music playing >> announcer: live from the beating

leslie picker has the details from a new survey.>> the study by lean in and survey monkey found 1 in 3 americans did not know the pay gap exists now, based on median incomes, women earn about 20% less than men, that equates to $400,000 in lost earnings over the course of their careers. 74 weeks worth of groceries. why is the gap so hard to close? part of it has something to do with occupational gender segregation, with predominantly male fields garnering higher wages. raising the minimum wage has been touted as one way to help bridge the the gender gap another reason is the so-called mother hood penalty where employers have been found less likely to hire mothers than fathers. and women tend to take lower wage jobs that allow them more flexibility for child care some states have passed legislation making it easier for employees to ask for more predictable schedules without jeopardizing their jobs. now, some companies like salesforce have taken action by investigating their own workforces to see where pay gaps arise and gender transpa

we'll leave it there leslie picker will be wonderful for the next three hours we'll talk to him more.>> when we come back, today's top water cooler stories, including a development deal for an nba star. >>> and get ready for a flood of corporate earnings we'll bring you the numbers from eli lilly, coca-cola, 3m, caterpillar, verizon and more. that's starting in the next ten minutes or so. most etfs only track a benchmark. flexshares etfs are built around the way investors think. with objectives like building capital for the future, managing portfolio risk and liquidity and generating income. that's real etf innovation. flexshares. built by investors, for investors. before investing consider the fund's investment objectives, risks, charges and expenses. go to flexshares.com for a prospectus containing this information. read it carefully. you know what's not awesome? gig-speed internet. when only certain people can get it. let's fix that. let's give this guy gig- really? and these kids, and these guys, him, ah. oh hello. that lady, these houses! yes, yes and yes. and don't forget about

shares are moving after hours, leslie picker has news there leslie >> an announcement that espn pluss going to be available for streaming through the device according to a press release, espn plus is bringing mlb, nhl, mls games and grand slam tennis to the device. you can see there, shares up about 3.7% in after hours trading. back to you. >> leslie, thank you >>> ian, what do you think we have to look and see if shares of disney move. if it's good news for roku, how are investors viewing prospects for this kind of spinoff digital network they are giving a try to here >> yeah. i mean, i think, actually, it's interesting to see what netflix has to say that disney is pulling content in the next year or so, but, yeah, right now, there's a big experiment happening at disney, and i think it's to be determined as far as how that plays out >> got the kobe bryant offering, but so far they want it to be a tack-on service and not, you know, meant to cannibalize core espn, and at the same time there's roku up 5.5% after hours today, and reports about comcast adding netflix to its bundle where

leslie picker joins us with more on the day's activities. > hey david you can see the popularity behind me. we're in our first break from the next wave presentations. these are from up and coming fund managers presenting their ideas. and interestingly, the first two presentations of the day centered around long picks in the european internet sector starting with dylan adelman, last year's contest winner he posted a long in vostok new ventures the best way to play a company called avito which is a european version of craigslist with online classified ads. after him was alexander captain. he pitched a company called takeaway.com which is an amster gam company similar to a grubhub here the delivery market in europe, the online food delivery market in europe is a big -- a big market one that could increase tenfold over the next ten years. after him, the third presentation was tim garry he did not provide a specific pick but he did provide a bunch of explanations as to why the market structure was such that it could predict the impending crash of

>> with this year's conference on monday, we asked leslie picker to look at some of the big names in rmed leslie >> we did, as you know, so many news is preimminent when it comes and pitch stocks either on the long side or short side, so if you heeded the advice of last year's presenters, how did you do well, larry robins three longs in the green since last year's new york event may 8th, and founder counted longs in dxc technology, fnc corp., and ikeava, all three companies outperformed the s&p 500 through today, and robbins is coming back on monday to present more ideas. another pick that would have made you money, well, shorting frontier communications. josh resnick said make a bearish bet on the telecom provider, and it's now down 60% since then not all picks were profitable, of course, like brad touted a s, that stock has fallen about 5% since the conference on may 8th. keith meister recommended centurylink and david ein horn he will be back again this year, guys. >> leslie, thank you very much for that and everyone, don't forget monday cnbc will be at the sohn conference in new y

. >> all right leslie, the stock picker says they've chosen celgene you guys were talking about this> i think they have a bug in here, jim. >> it's actually very strange because you know i didn't think this is the kind of off the wall pick that i like and that you like it's based in summit, new jersey, which is where i'm from. i will say, i also am partial to amgen, either one of these i don't think both are going to be independent this time next year >> a lot of grinders, a lot of offensive linemen, not a lot of quarterbacks no flash no apple no amazon. when are they coming through do they even get picked in the first round? we're going to find out. facebook, bitcoin, chevron, and celgene are off the board. sarah's in the draft room. >> it's eric dickerson and this is not his first draft he was the second overall pick in the 1983 nfl draft, first time at the stock draft here with the number five pick for 2018 stock draft what do you select >> i'm going to select exxon i'm going energy >> oh, we got a little battle here with kevin o'leary for the energy >> mr. wonderful there i think