loeb including an offer to put him on the board with roles on three board committees.theby's striking back at this latest plan from dan loeb. back to our debate now. we've tallied results. josh, you won the debate on best buy. [ applause ] a final trade first? >> pepsi. >> anadarko. >> i like carter, ci. >> josh? >> dfa going higher. >>> that does it for us. "power lunch" begins right now. >>> all right. welcome to "power lunch," everybody. i'm sue herera here and tyler is on my old stomping grounds out in southern california. we'll get to ty in a second. first, a big day for the fed chief janet yellen. before the senate banking committee since taking over from bernanrernankn bernanke. what are we hearing? >> close to the script on the path ahead for monetary policy. act one, sue, is going to be the idea the fed is going to be tapering. act two, interest rates kept low a very long time to come. yellen made a bit more of the weather than in the past. the idea is the weather is something hurting the economy now, sue. however, she made, maybe, a bit more of it than in the

loeb himself will be one of the nominees. in response, sotheby says it's disappointed that third point has chosen this path. last october loeb called for management changes includinged ceo stepping down. the stock fell a fraction to 50.37. >>> and joseph a. bank has rejected men's wear house's latest takeover offer. it said know to the bid but did say it's willing to consider a higher offer and will meese with men's wear house to discuss price. shares of both companies rose today during the regular session and popped after hours on the news. >> that is the takeover deal that won't go away. >>> turning to health news and some big changes coming to nutrition labels on just about everything you buy at the grocery store. the agriculture department has now proposed new calorie and added sugar listings on many popular foods to more accurately reflect the portions that americans eat and how much fat and calories we're actually taking in brace yourself. bertha coombs has more. >> reporter: the white house used its best-known health a

open -- moment ago i hung out with dan loeb.t an almost 10% stake in the company and it's not enough. this activist investor is getting more active, calling for the company to appoint three new board members, including loeb himself. he had a breakdown in negotiations with the board earlier this week. he said they did not seem to want to negotiate, and that is, about putting loeb on the board. the difference is, in the fall he wanted to see the ceo get removed from the company. he said he's willing to work with senior management, but that they need more direction. i asked him about eddie lampert. do you feel that he knows how to run a company the way they did in the 1970's? he said someone needs to hold the company accountable as far as the direction they are going and the money they are spending. he thinks he is the right guy along with harry wilson. he said he could even see himself getting along with the management. i'm not sure if that is the case, but he is getting significantly more active. italy interesting to see how the

loeb is the largest shareholder of sotheby's.orcing united to cut its revenue projections. revenue for each seat flown will drop after a canceled 22,000 flights due to the weather. no figure on how much lower revenue will be. the change prompted one analyst to project a much steeper loss at the airline. , ukraine.o to kiev what are you seeing on the ground this morning? it has been more than a week since the worst of the violence. the themes in the main square "leslightly reminiscent of miserables." there is a shopping mall directly underneath the main square. you are surrounded by garbage, barb wire, and you walk downstairs and you can buy jewelry. >> when you look at the financial system of ukraine, the imf being asked to come in, it comes down to currency. we have seen the ukraine currency weakened dramatically. kw is the flow of money in iev? the main square, a lot of the banks are closed or operating under unusual conditions. you will see people try to get cash out of atms and not always come away with what they're looking f

dan loeb has been practicing with me since 1995. that was the year he started his fund.n at it since then. i get these people who come in and they do not give up the other lifestyle that they have. they still do yoga. >> that is the thing. you get all sorts of people. got 24 hours a day, seven days a week. what happens when more hedge managers and more bankers -- >> build a new studio. >> but you cannot do it all. what do you do when there are too many people who want your instruction? >> i don't know. i have not gotten there yet. >> really? >> yes. >> infinite scale. >> infinite scale and infinite creativity. >> do the people who come from this background have the patience to achieve what you achieve? i can sit year and say, i want to do that. and then i'm going to go home today like i have 100 times the for and try to meditate and fail at it. do you find a people who come from the financial industry, who may be success addicted, adrenaline addicted, struggle to achieve that balance? >> not necessarily. you don't have to be doing this all day long. you just need to take

if it's a name you want to be in and believe in what dan loeb's doing, down 10% on the day. >> as yourom yacktman's biggest holdings, he's a staples guy. he's in p & g, he's in pepsi, he's in coca-cola. >> and his largest holding in the tech world right now is in cisco, that's one of his top five. it's interesting because the performance there is not great. but it is solid, scott. it's continuous. and the yield, 3.5% on top of the 5% or so per year. sort of fits in the yacktman style. something very comfortable, not a huge downside and yet the upside's not unbelievable either. >> clearly making the case, josh, that the market in his view through his prism is more topping out than breaking out. that was clear. >> yeah, it's interesting because he's been running 20% cash now for quarter after quarter. and he feels no compunction to change that. >> he might if we get a bigger correction he told us hopes happens. >> it hasn't hurt his performance because he's in names that are outperforming the market and his peers. i see nothing wrong with that. i want to get to sotheby's quickly. there

loeb called for the ouster of the sitting ceo. that being william ruprect. that story. you saw the stock jump on our report earlier. the other big story today in the new development is in nelson peltz and his ongoing fight to split up pepsi. last wednesday you might recall he sent a white paper, some 31 pages to pepsi urging a split of that company. here are the white paper right here. pepsi responded saying it had no plans to split up the company. i spoke with peltz earlier today. he told he mees taken his case to the biggest shareholders. they're supportive. a positive reaction. taking the case to every major shareholder of pepsi in the weeks again, mr. peltz feels strongly about the plan. nothing but rhetoric from pepsi, believe in the stand-alone beverage business and peltz telling me, important, he's willing to buy more stock to show his belief in the business and willing to go on the board if, in fact, he is asked, telling me that pepsi's power of one campaign does not work. the numbers do prove that. those are a couple of big developments involving a

i think $2 lower, which i think it will after the dan loeb pop it drops.buy. >> let's go to the desk. i want views from both. josh brown first. who made a more compelling argument here on blackberry? >> oh, man, this is hard. i think you have to go with jon. this is not really a hard trade to do. it double bottomed at $6. that's where the support is. you put your stop in there. you have 30% of the flow short. so who knows if they're going to turn this thing around, but you have very defined risk on a play that could be multiples if it does actually turn around. >> the man who knows about taking risks in blackberry, right? >> correct. i've got the war wounds to prove it. i think this is a relatively easy speculative long, but you're going to lose 50% of the money if you're wrong, you could triple or quadruple if he turns it around. >> war wounds and a draft hat. that's neither here nor there. stephanie, do you agree with josh? >> well, no. it's hard because the fundamentals are horrible. pete called it perfectly, sales, revenue, market share, all horrendous

essentially rejecting dan loeb.rd point saying the following in a statement i have just received. they say dow has asked shareholders to accept its word that third point's proposal to split the petro and specialty chemical businesses would not increase value. unfortunately, dow's lack of transparency means we know neither the methodology nor even the advisers used to arrive at that decision. transparency is essential considering dow's undistinguished track record of capital allocation decisions. third point going on to say they are prepared now to sign a nondisclosure agreement to review and discuss the analysis that led dow to those conclusions. we look forward, they say, to having a constructive dialogue among our own financial advisers. ceo of dow and dow's board which we believe, third point says, can ultimately result in significant value for all shareholders. so that's the latest development in this ongoing story. you see what the stock is doing right now. it is down about 1.5%. it has been down throughout muc

why dan loeb once to be on this other bees board next.oard next. ♪ >> activism out there today, and we're not talking about carl icon also making headlines today. talking about dan loeb taking aim at sotheby's auction house. olivia sterns with the story. >> dan says he is willing to work with management, which sounds very surprising that there is a caveat. if they allow him to put three people he chooses on the board. he istely sounds like softening his tone. you remember he wrote this gaping letter back in october criticizing sotheby's . --ticizing the expressive excessive spending culture. there was a point a couple of years ago when they were paying for bill -- for bill rubric. he wants to get on the board and shake ends up. >> does not sound unusual to me. private or public law firms? a lot of the big privilege packages have gone away. he said today on the phone with stephanie ruhle is my hope is we put the differences behind us and work constructively with the board and ceo. >> it will be interesting if they can. if you tell a ceo yo

dan loeb. >> thank you, arthur. i just want to say, your holiness, it's an incredible honor to be here with you here today, the spiritual leader of the tibetan people. i grew up with my dad who would have been about your age today, had he still been alive. he would be so proud to see his son up there with you. it's really incredible. i carry that spirit within. is incredible to be with the spiritual leader of the capitalists people, arthur brooks. [laughter] and i'm not sure my dad would be quite so proud of that. [laughter] he would certainly be happy. i start my fun in 1995 with $3 million under management. is going a bit over the years, but i started it in june of that year, and started practicing yoga a few months before that. in fact, my yoga teacher is here in the back of the room. and about five months after starting my business, fiduciary, i do the people's money under management, my yoga teacher convinced me to go to india to study yoga with the master for a month. it was unusual decision. in fact, i got a

loeb i think -- i think loeb gets this stock to $55 if there's a change in management.liverist did a lot that was not good for the company. i think everybody that owns dow has to be disheartened by the statement. >> the stock moved up a lot, of course, on the day that we first told you about loeb's interest there. >> yes. >> again, it's a significant stake for loeb but it wasn't -- he was giving it time. he let the proxy deadline -- he's waiting until really this is next year's battle or later this year i should say. conceivably. >> or just, like, hey, do you know what, long game. >> it's a good question. >> good question. >> because it hasn't gone particularly well. they'll say, well, a lot of people have been focusing on the value of the entertainment assets and they weren't looking a it earlier. >> dow does have a lot of assets and we see how fantastically dupont has done in getting away from ingly ppg has done getting out of the commodities and going to the high value-added chemicals. obviously you could have a tremendous amount of value unlocked if loeb were to win

they were adamant about loeb's position not being the right one. even though they're not doing exactly what third point wanted, they're moving in that direction. >> it was a $50 stock -- 60 bucks six year ago. it's under 15 today. they've tried to weaken the yen. what is sony now? what are they? are they a commoditized maker? >> consumer electronics? >> no, no, i mentioned this on the show yesterday. the entertainment business is worth more than the whole stupid thing combined. right now, if you just spin off the entertainment value, you would get more for your company. >> they're laying off 5,000 employees and -- >> which is a huge deal. >> in japan, that doesn't happen. >> it is slightly amazing that they're dining it. i wonder where the 5,000 jobs are coming from. we should try to find out. dan is sold on some of these position of sony? >> some of it, i believe, in the last quarter. but there was weak ng in the japanese stock market. >> that's the understatement of the morning. >> you're welcome for that. >>> meanwhile, pan done dora's year guid

dan loebs third point revealed it has a 10 million share stake in blackberry. the hedge fund now has a 1.9% position in the company, making it the fifth largest shareholder. the troubled smartphonemaker also scored an upgrade from svr capital because of recent changes at the company and positive momentum. that helped lift shares more than 5% to $9.46. passengers flying on united airlines suffered widespread delays this morning because of problems with the company's computer reservation system. the flight tracking site, flight aware, reported that 16% of the airline's flights were delayed as of midday but that was also caused by weather issues in parts of the country. shares of united continental fell to 33.66. norwegian cruise line posted better than expected earnings. the results beat estimates by a penny but revenue came in shy of analysts' forecasts. the company said it was pleased with a solid performance during a challenging year for the industry. but investors weren't impressed. shares fell to 43.56. >>> shares of waste management took a hit after the com

saul loeb on the street. it's very sad the new pre school to become the face. it is being raised on feed containing the peel and juice of citrus fruits including mandarin orange is married has me kind. a refreshing time you get to finish an appealing way singaporeans will love this one tasted seeing me cry the fish was invented for my handy coincidence. he met farmers grew more citrus fruit than any of the prefecture in japan their production of tom gage also tops the country. much of the psy trance is made into juice. that leaves a lot of left of appeal. we sent shares of the fisheries cent had tried adding that appeal to the fish is he. they found that day but hasn't played under him. that they stay fresh longer too. and this fishy smell. then she would kill and our runs a fish presenting company in taking them. the new fish caught his eye. he says he was amazed the first time he tried it the fishes texture and aroma were new. it was snowing like other fish. that was enough to convince me that this raised on the tv with style q what has started sending the fi

. >> dan loeb does not seem like the most mellow guy and the room, does he?s super mellow afterwards. we had him in a trance. we can expect dan loeb to be totally mellowed out. >> oh, yeah. >> in reality, how much do we see this kind of sentiment or these type of precepts really integrated into u.s. capitalism? ,> the u.s. capitalist system or any capitalist system, does not occupy itself with how conscious we are trying to be, any of the things be dalai lama was trying to talk about. the point he wanted to make, one of the things we talked about at aei about the free enterprise youem, or you cannot -- cannot go forward without a moral sense. that comes from adam smith. calls a dalai lama sense of global brotherhood. we are all better off. the free enterprise system can reach down to help more people. that is the tendency to create collectivists. >> we are with you. we are right there with you. we are all for free enterprise and free tibet as well. >> absolutely. >> thank you for joining us. >> i feel mellow. >> i feel better now. >> it's a good feeling. >> j

method any better than dan loeb or bill ackman? isalways better because he acting on behalf of of all shareholders. they can vote with their feet and leave activism or stay with it. in the case of dam bo, he came in and took a special sweetheart deal to come in with the shareholding. he tries it again and then leaves it on a special buyback that applies only to him. faithhen you see this >> benefited substantially. bill ackman and jcpenney. was he was -- was he working for his interest or the interest of the shareholders? area clear it was a complete disaster. i think time will prove it was mostly in his own interest. >> why do you think activism is ever more present these days than in the market? >> you mentioned i was once the .resident of at&t broadband at that time the average sure was held for three years. now the new average share is held or three months. reallyrt-term holding favors activism. even with the large pension holdings, there is so much getting shorter. >> activism is synonymous with the word short-term holding. le

it says the breakup lance suggested by dan loeb would reduce its value.nternal review after dan loeb suggested the company could add billions of earnings by spinning off commodity chemicals. , thember two is fossil watch and accessory maker. they recorded better than projections.es and they believe the company's outlook is conservative. they raised shares. one is the world's largest to see an operator, sands. hackers breached the website. reveal personal information about some of the employees that the company could not say whether customer credit card information had been breached. this happens more and more. it is time for the call as stocks open this wednesday morning. let's bring in robert reinhardt. is that there is less need to fear the fed tapering but that does not mean she wants you to jump right back into stocks. great to have you back. last year we had you on and you are kind of negative on equities and now you are more neutral. why is that? >> a couple of things that are is the very positive testimony the janet yellen gave yesterday. it assure

definitelydan loeb knows how to lecture. as a buyer. >> well, that is up to perspective. look, i think the blue over to the activism have made mistake -- i think people who overdo the activism have made mistakes. they are in over their head at the getting changes that may not be the best for the companies. the kinds of things we do, just time and time again, always end up being the best interest of the company both short and long-term. >> given that there are so many activists, or self-styled harderts, is it getting to find activist targets? other people getting there before you, for example? >> those are two different questions. one, there are more ideas today than there ever were. in my 30 years i have never seen a better environment. >> why? so many companies run so poorly? >> i think you have a market that is fair value, plus or minus. it is not overshadowed particularly. corporate are healthy. financials are well capitalized. interest rates are low. company balance sheets are filled with cash. private equities trading o

loeb. and resna who now works in the luxury jewelry industry.ew york city at this moment. so they are literally learning of mr. loeb's plan to put three people on the sotheby's board as they are sitting in their very own board meeting in new york city. as many of you know, third point is sotheby's largest shareholder. he has written letters. he has asked for ceo william to be replaced among a number of other things. but he is stepping up his battle wanting to go on sotheby's board along with two other people. you can see the stock is on the move. we'll continue to work this story and have anything new on the "half time" show in 15 minutes. simon, back to your interview. >> let's return to hilton worldwide headquarters where we're still with chris, the ceo. you reported yours first quarterly earnings since becoming a quarterly company. not just that you have the biggest pipeline in the industry. say the industry experts but also this operating profit of $2.4 3w8. mid point which is above expectations. what do you see for the future? >> listen, fi

washington denies any involvement in venice will is political crisis that this accuses the us in leopold loeb is really nice and student protests with the aim of overthrowing president hu earlier this week. three u s diplomats were kicked out of the country for their alleged involvement. we see many times that the venezuelan government tries to distract from its own actions by blaming the us or other members of the international community for dance inside them is what these efforts reflect a lack of seriousness on the part of the venezuelan government would that the grave situation basis part of our tickets cctv caracas. social mess but diane to facebook says it's buying the finest bullying the obama seeking stock of what's out at two nineteen in us dollars it spent its biggest acquisition to date and the transaction involves a full beating dollars in cash. well beating dollars installed and three billion dollars in restricted stock and then said that seventy s i was abit wasn't in the gut among the way that the smartphone based messaging app is now sweeping across north america asia and euro

dan loeb said this before. we do not know what is going on in doubt. seen the company underperform. mr. loeb is getting aggressive. he wants answers. >> thank you. we appreciate your update. let's head back down to d.c.. more with the interview from the french finance minister. >> we spoke here in our bureau in washington. the world's fifth-largest economy barely grown. a 16 year high. the latest numbers come out friday. i asked for a preview. class i know the forecast as well as central bank and of our public institute for growth forecast, 0.4% for the fourth quarter. i do not know what the figure would be exactly, around that. , would say now, the eurozone off the recession. we had a recession in 2013 and it is over. our growth rate is one percent per year and is not enough. better than a recession but not enough. we want to speed up here this is why a pact was launched with firms in order to give them more capacities to invest and reduce the cost of labor and have a better taxation for the firms, tosimplify the access regulation, more flexible labor

begins a practice, a meditative practice, as daniel loeb said, we begin with an attention.what is our purpose in doing this? selfless?ish or do we have in mind the compassion and connection between all of us? we articulated that interdependence that is central to our ethical lives. work that we're doing today must also have that intention. and so we enter into this dialogue with good spirit. we have articulated the same kind of intention at the close of your summation. sessionegin the second with the same heartfelt theme in mind. we are here because we care. we are here because we care. can we care enough? can we find the means and methods that we can care for one another? let me introduce to you the people on the stage with me, dear friends all. of course, there is mr. richard davidson. i have known you for many years. a professor at the university of wisconsin and director of the center for investigating healthy minds. he will be leading off with a careful scientific treatment on the study of happiness and well-being. presenter was, for 14 years, president of boston colle

talk about these calero it's a red coat about with his red tie to fame you want to stand out in a loeb's tell yourself to find the world number one is that this is number one i thought long and hard about it so actually i thought it would give it to our poor souls are going to be coming up i almost gave it for your jacket yes my special coat i'll give it to you in the end maybe if only people at home knew the drama's we had about what to wear here anyway number one we've got the scandinavian team of the norwegian look at that nasty looking like the moscow state circus it's kind of . migrates if you stare at it and what was interesting is actually as they played the different games there was different trousers so that was just one outfit unfortunately they didn't they didn't score any medals they won silver in vancouver saying that the costumes helped sort of you know purpose on the ice but it didn't do them much favors and i'm sure they'll be throwing away those costumes before they go back to norway. so they are in it the amazing closing show we'll talk about that in just a minute it wa

they are facing pressure from dan loeb, fighting back against the activist investor.lan to split the company and two would not include productivity or capital allocation. we are also looking at dr. pepper and snapple. even though revenue came in shy of analysts marks, did beat estimates and expects to have some shares outstanding. more bloomberg west is next. ♪ >> you are watching "bloomberg west" where we focus on technology and the future of business. hackers have hit at least one website owned by las vegas sands. they posted statements resizing the chairman and staunch israel supporter, sheldon adelson over comments he made about iran. they're working with law enforcement to figure out who's behind the attack. disney is launching a in start up accelerator program with people from techstars. they will get $120,000 in investment capital as well as mentoring from bob iger himself and other media and entertainment executives. alibaba is going to launch a new e-commerce site in the united states. the website will be called 11 made and is inc. developed by an alibaba sub

maybe dan loeb is happy about that one. december 6th, 2014, and "squawk box" begins right now. >>> good morning and welcome to "squawk box" here on cnbc. i'm kayla tousche along with andrew ross sorkin and brian sullivan. becky and joe will join us tomorrow from pebble beach, california. the major averages are coming off their seventh losing session in just the last ten trading days. the losses yesterday were fairley slight. 53 points today would be the implied open to the upside for the dow. the s&p would open about 7 points to the upside. the nasdaq would be about 15 points from the green. that's because a lot of the european markets are firmer as we awaited the decision from the ecb and the bank of england. we are earnings and economic data. first on the economy, here is the calendar. it all happens at 8:30 eastern time. weekly jobless claims, december international trade and fourth quarter productivity. throughout the morning, a number of the neigh's major retailers will report january same-store sales. as for earnings

we know this name in part because there was -- in the spring if you recall, summer, dan loeb big positionshing them to do a subsidiary ip of sony entertainment. they came back in august with a detailed letter saying, thanks so much, dan, but all the directors of our company continue to believe that owning 100% of the entertainment business is fundamental to the sony success. the problem is not with entertainment which did shine a light on it and there's also real values there but making tvs is not great business. >> no, we knew that from zenith, didn't we? one of the things i struggle with with sony is, well, what is it that we really want? it doesn't have anything that i want in stock. no growth. no vision. no clear path to profitability. when we have companies that are doing things that are just amazing. let's compare this to -- >> but trying to take them back to the days of innovation, think about it, we all know the walkman. >> the walkman, didn't you just say everything? >> i know. >> i'm struggling. i'm struggling. the dna here is bad. it was great. i just don't see a lot here to ow

jan loeb, doing well. the stock market doing well. should see an increase in fine art and action items. you are not seeing sotheby's held. liz: i was staring at it and everything else was a blur. our current bull market is 5 years old on march 9th. doesn't feel like it. wall street is saving the day because the landmark birthday has been raising the possibility of a major crash for some. will it be this year? we are tackling the question in today's wall street throw down. in the bear corner and predicting a crash in the next two years. we have the founder of maxfund.com. he is a fox news contributor. make your grim case. >> i have four major cycles i developed over 30 years, all pointing down at the same time from 2014-2019. the only time that happened was 1930-34. i have been looking for a peak in this bubble for years and i see a convergence of stock patterns are rising bearish wedge in the s&p 500, rising channel in the dow and the huge megaphone pattern with higher highs and lower lows and this suggests in the next couple months s

. >> what would your opinion of an icahn or a loeb or ackman for that matter if you don't want to addressby name, but in general, what would vanguard's position be on activists? >> there's not a stock position on activists or activism, per se. it really comes down to what's the case in the instance of each individual stock, each individual activist situation. you know, we don't think either activists or companies have a monopoly on the best ideas. and what we want to understand as long-term investors in a case of our index funds, practically permanent investors, what's the best course of action to ensure long-term value creation for all shareholders. >> but can you make the argument that you guys at vanguard, you're buying, you know, ain apple, for example, because you have to. you're not doing the, let's say, the deep work that an activist may be doing. maybe they have an advantage and that maybe they know more, maybe they can cause significant change that would actually add shareholder value. >> well, and that may, in fact, be the case. but i don't think it's either one way or the other

seeing limited downgrade to the stock but it did give kudos to management team and dan loeb, stakingke in the conn company. wanting to finish up on lulu. getting a buzz after upgraded by oppenheimer. look, oppenheimer says this is a controversial stock. a lot of we have been seeing has been self inflicted but they do like the brand equity and they do think that it is now a good entry point. scott? >> sheila, thanks. guys, quickly. this nasdaq move can't be overlooked or understated. when you have the other major averages fighting to try and get back to flat or positive for the year, you went the nasdaq up 1 1/2%. it's not even better than that. steph, is technology really going to be the place to be in 2014? is that going rule the day? >> i think it is. especially because valuations are not extended. you know, sheila just talked about the old tech doing well today like apple and google and that's very encouraging. but there are a whole host of companies that have not performed as well. we were just talking off line about company called sienna. this stock is up 12% in two days and yet

steve jobs. , yogi.ad dan loebs' >> all of these super competitive alpha males are also yogis. >> theywn somehow. >> if they did not meditate, we pain.be in a world of >> facebook has gotten rid of its e-mail service. they have notified users that any mail that was sent to their wasess, which you remember automatically set up. none of us actually subscribed to have our new accounts, that will be redirected to the e-mail associated. another sign that facebook just could not win the messaging wars what's app.bought > >> it is surprising that this did not catch on, right? you did not have to do different apps. is like using dvds. who uses e-mail? maybe we occasionally do. we are of a different age than the kids. the kids don't use e-mail. >> i use e-mail. i think i use it more than you. alluded, when they first introduced that thing, everyone already had all of these things and it was the default address on your facebook account. that was part of the problem. then they did not really publicize the thing or push it out. obviously, they have the resources and the user base and they did not

>> well, look at dan loeb. dan loeb moved up from 18 a year ago to number two. returns over the last four years has been incredible. it was anywhere between 20% and 40%, you know, three of the four years previously. and there is an activist who's not just an activist, though, he's making just really interesting eclective investments, you know, across the globe. >> thank you, mike. we've got to leave it there. that article on those rankings come out today. check it out. >> i'm going to check it out. thank you. >> you're welcome. >> that's fun. >>> coming up, we're going to talk about some bing viewing, not here, but you weren't into the housing -- if we're talking about bing viewing in china. eunice yoon is talking to the man that is bringing "house of cards" to beijing. >>> plus, the other big debut of the holiday weekend, jimmy fallon taking over "the tonight show." and he settles a debt with some celebrity nay sayers. first as we head to a break, take a look at last week's winners and losers. we're back in a moment. we needed 30 new hires for our call center.

it is different from dan loeb, who split. >> look, all of these guys are sharp rise.hey have made fantastic investments. ackman included. jcpenney was a rookie mistake. about 25 years ago, i ran a retail chain that was fabrics. -- they customer base were all hooked on coupons. that business is dying. my mother sewed, but no one does anymore. why would you? >> i am a dress barn all the time. >> like heck you are. the point is -- >> he made a rookie mistake. is, he moved to make them something that they were not. they did the same thing i did 25 years ago. they did not build a bridge. they went cold turkey. you cannot do that in retail. >> all right. >> you cannot abandon your customer base unless you are ready to hemorrhage money. by the time they decided to make change, the company was already eight months pregnant with that strategy. as a turnaround person, but what i do with that? >> he hemorrhaged money. >> a lot. >> i want to come back to this conversation. as we look at all different companies going to restructuring, is it the right move for investors to step in

and we mentioned that the sothebys with dan loeb. and activism takes the headlines and going after three board seats when he conceivably could have gotten one, and sothebys e reporting yesterday, and they come back and say, dan, come on, you think that one voice is enough? you don't have enough confidence in yourself to be on the board to effect some change? >> well, they learn it from cnbc. you know that. that is what wapner said yesterday, they are watching cnbc and we are under attack. >> and yes, carl icahn. >> yes, again. >> and more to get to this morning are the what to con can collude from the apple shareholders' meetings where they will have questions for tim cook. and annie's has a lot to say about the gmos and what is there to say about the new food labeling proposals, and we have not mentioned the face-off with jim last night, and we have the produce over "house of cards" and so much to get to this friday on "squawk on the street" back in a moment. opportunities aren't always obvious. sometimes they just drop in. cme grou

. >> how did you get someone like loeb to use your system?o you get a jim chenos to user system? >> we used our network. we spoke to a lot of people. some people got it right away, and some people didn't. is anally, i think it evolution people will move toward and there'll be an adoption curve. >> joe brusuelas, please. >> what is the single way you add value compared to more traditional methods of investing? >> of investing? >> you are using the asymmetric -- if you are person like jim chanos, wiry going to go in and give away secrets that you may want to keep if you're going to short the market? >> you wouldn't give away a secret you necessarily want to keep or your proprietary information. but talking about brand mattering, you will do something you ultimately feel is creative to your brand. if jim chanos is the world's greatest short investor, it is always more effective to show people why as opposed to telling them why. --who are most of the people who is the meat and potatoes of what you're doing? >> we are between 500 and 700 firms and

. >> the thing is, andrew, if you look back at what daniel loeb is trying to suggest to the board of directors of sony last year, they said, look, you know, they need to spin off some of these outperforming divisions like they just mentioned, entertainment. but if you look back at the q2 numb numbers, it was the entertainment division that didn't do so well because they didn't have some huge blockbuster movies. so it hasn't been performing all that well. really, at the end of the day, those numbers in sony were boosted by financial services, insurance business. so it doesn't have a lot of legs to go on at this point in time. yes, the playstation 4 managed to outperform, you know, when they launched it back in november in the united states. they saw solid sales in december. but a lot of people are saying that sony needs to do a lot more and a lot faster to cut away some of these recommend rajjing businesses that have been dr dragging them down for years. >> by the way, the cultural issue is they can't get rid of them. they put them next to the elevator in hopes that they get the joiqu

more from dan loeb about how we can build on the success of the success academy.and reintroduce the rule of law into our casino markets. i would like to learn more from john height -- john hate about is encouraging third story and ask him how deeply are we willing to dig beneath the symptoms into fundamental causes. and really, really study the need for profound systems change rather than simply focusing on the symptoms. so thanks to all three of you for your extremely thought-provoking presentations. so my questions, i have many, but i'll just mention to for starters. first, what price do we pay in happiness when we focus to sharply on ourselves? his holiness hasn't told us that it starts with the self, with the individual, but it doesn't end there. we in the west are so preoccupied with working on ourselves, that it becomes almost an end in itself. could that be a distortion of thought, a psychological grasping, and into materialism again to the overheated outward materialism that surrounds us at every turn? what's of the fundamental error is to seek happiness t

the question is whether this goes far enough to appease dan loeb, who has been pushing for a spinoffthe entertainment business. he says sony needs to restructure its tv and pc businesses overall. like everyone else, sony looking to focus on mobile devices and games. >> it is a train wreck. joining us is david kirkpatrick, on facebook. sony, to me, it is this distant corporation that is always behind. came along,e apple more or less. i was listening to the report just now. he comes out of the game business, but not an internet business. it's sony is going to thrive, somehow they have to thrive in the era of instant and the era of the internet generally. however good playstation is that he created and built into a multibillion-dollar franchise, it does not really have a connection to the internet cannot give him the kind of savvy i think he needs. is the commentme from an analyst at jefferies who pointed out the insurance profit is higher than the group operating profit. we do not even know about the insurance business, because it is very domestically focused. where is the value in the

dan loeb? anybody with deep pockets?he united states senate on my side and hometown people cheering and protecting me. >> you saw the chart that megan put up. they're spending a lot of money. >> drop in the bucket compared to what is being made. these business is make money. i mean, they are a license to make -- >> if someone like bill ackman comes after you, you have got to stand up and defend yourself -- mean, it is a most like a shakedown guy. this is what these guys do. they're shaking it up not just to do the right thing -- i'm sure that is what they say. they shake it up because it puts money in the pockets. -- in their pockets. didn't do a good job over jcpenney, too. >> always a pleasure to see you. thank you for being here today. we want to get back to this breaking news that is coming out of the ukraine right now. an agreement has been signed between the ukraine's leader and the opposition to end the three months of deadly violence. our chiefg in washington correspondent peter cook. lay, you are there on the gr

loeb, theis dan founder of the hedge fund. on the far end is jonathan height. men have donehese foundational work in their respective areas. this is about the nature of human happiness and the morality of the free enterprise system. each one will get their perspective. if we have time, we will have some questions from the audience. we will follow this with a second session from our wonderful friends. this organization is completely changed the debate about the conjunctions between psychological life, the human brain, and the nature of the truly flourishing existence. we have a lot in store for you today and we are delighted to be with you and his holiness. would you like to start with some opening remarks? nothing? starts, soa new day i am moving forward. seek apose is to try to happy life, and happy individual. community.y, happy ultimately, a happy world. we are part of the world. happy world from government through the united nations, from humanity is a combination of 7 billion individuals. work must start from individuals. then, from all sides. that is most

. >> maybe daniel loeb will be happy about that. >> i'm sure he won't. great to chat with you. now we're joined by peter oppenheimer. joining us now on set, peter, great to have you here. >> thank you. >> there's a lot of things to consider be it central banks, be it general risk sentiment and the data. where are we now? lay out the land as you see it. >> well, i think the underlying trajectory for risky assets and equities in particular is still up towards over the course of this year. we are expecting to see a good rebound in global growth led by the u.s. through the course of the year. understandably, we've seen a correction, given the scale of the rise that we've had particularly towards the end of december. and the length of time we see markets with no correction and a very sharp fall in volatility that we saw at the end of the last year, so i think the combination of this, the slowdown in the macro data in the u.s. has led to this correction. but we think it's relatively temporary. >> we've seen a number of analysts come out now and saying that this opportunity in terms o

also third point, the activist hedge fund run by dan loeb, they have a new stake in t-mobile u.s.le and abbott labs as well. notably so at third point, they cut their yahoo! position by half to around 8 million shares. so between berkshire and third point, those are two of the bigger names we have. we're still combing through a lot of other filings that are dropping right now and we'll bring you more details, but for now those are some big ones. also remember, gm, a hot stock for action among some of the hedge fund managers as well. we'll bring you more details as they become available to you. >> dom, thanks very much. love sifting through those. wall street also loves curling. u.s. national curling champ dean ja mel brings us some pointers next. we're bringing curling into the exchange. well, did you know that old macdonald was a really bad speller? your word is...cow. cow. cow. c...o...w... ...e...i...e...i...o. [buzzer] dangnabbit. geico. fifteen minutes could save you...well, you know. tdd#: 1-888-648-602121 tjust waiting to be found. ties tdd#: 1-888-648-6021 at schwab, we're

dan loeb's third point disclosed a 10 million share stake in the company. to that, fbr capital markets upgraded the stock to a market perform rating from an underperform rating and also raised its price target to 10 bucks a share from $6.75 before largely based on positive momentum. now, a big one to the downside, kansas city southern, the biggest loser in the s&p 500. jpmorgan cut its rating to neutral on fear that is pending legislation in mexico becomes law and spurs increased competition for ksu. the firm cut its price target to $96 from $118. then there's tesla, continuing to power forward. this as investors continue to react to news that the electric carmaker's ceo elon musk met with apple's acquisition chief. the company has a market company of, guys, i can't say this enough, $25 billion. this stock has been on a tear. >> dom, we wonder who picked up the check on that lunch. >> yeah. >> elon musk. is tesla a buy at these lofty levels whether apple buys them or not? >> greg johnson says tesla is fundamentally changing the automobile industry and will

ashley: wanted direct you to dow chemical, which i down today after the company rejected dan loeb's callaying it had already examined that possibility and decided it would not be productive. dow will instead focus on existing plans that involve spinning off its commodity chemical operations. ashley: concerning news for toyota drivers, recalling one.9 prius hybrids after it discovered a major software glitch setting off a warning light that can cause the car to enter a failsafe mode and suddenly slowed down. not good. the latest recall involves 1 million cars in japan and 700,000 in the u.s. made since march of 2009. lori: chalk child products maker greco recalling 3.8 million car seats after discovering faulty buckles that contract a kid in the seat. they voluntarily recalled 11 models from 2009-2013, refusing to recall car seats despite a government request. no reported injuries is to these faulty buckles. ashley: let's get to this nasty weather. a winter storm blowing through the southeast blanketing the area in snow and freezing rain, leading some roads covered with over an inch of ic

daniel loeb why is in the stock?you, listen, there's this undercurrent of bullishness if you will in this stock. you can see it is up. people like chen. they look at the sybase turn around and believe in the intellectual property but there is especially among the hedge fund names sort of a bullish theme going on and you got a few of them buying in including third point. >> subscriber business is a great business and it hasn't tailed off as much. >> and even the privacy implications of it, it's harder for the nsa to tap into it. >> really? >> a little bit. >> maybe switch back. >> the prez still has a blackberry. the president still has a blackberry. >> really? >> yeah. >> wow. okay. well, that's interesting. he doesn't want to be hacked. i don't blame him. we're going to have the military the same size -- that untrue. we were the 18th largest army, 15th? was romania, the force reductions are nowhere, i cannot believe "the washington post," everyone bought into that, "the journal," "the new york times," those stories

. >> we get a disclosure that -- >> that's right, loeb is one of the investors there and a few othersow, when it comes to t-mobile, they're just being so aggressive that i think you have to look at the larger landscape, all right, they're attacking blackberry, but this is all part of bringing prices down and really we have yet to see the full response from the verizons or the at&ts, we've talked so much about that in terms of what they've been doing and how aggressive t-mobile has been. >> and i wonder, you know, ledger's been aggressive on marketing, on promotion, on smack talk. >> on crashing parties. >> but blackberry might be the first who has nothing to lose by responding in a way that maybe at&t cannot. you know? >> i just wonder what the subs s subsidies are, if you are get an iphone for zero dollars down, switch now, does that mean apple is giving t-mobile a better deal? how does that work out? >> no. i don't believe so. i don't think that's the case. >> that's a -- >> you are just taking less margin. they're being very aggressive which goes to the larger conversation that we'