i'm talking about art coppola, ceo of macerich.hareholders a huge disservice walking away from a favorable deal which caused macerich's stock to get slammed. i cannot imagine what this guy was thinking. i think it's a text book example how not to run a shareholder-friendly company. over the past few months simon property group had been trying to acquire macerich. in early march they offered $91 considering the stock was trading less than $70. simon raised thai bid to $95.50 best and final offer which represented best valuation, not to mention significant premium. this was the point where coppola should have said yes because there comes a time when you need to take the money and run steve miller style. instead he said no claiming the bid undervalued his company and since then the stock has been taken to the wood shed trading down to $80. as of today, much less than macerich could ever have gotten $80. it's nuts. rarely have i ever seen such a cut-and-dry situation where the ceo made absolutely the wrong call. how ill advised was cop

might be. >> macerich side?>> on macerich side. >> simon property has come up empty a number of years ago fought to try to buy. general growth tried to get, competed out of bankruptcy and failed again. >> this is exactly what wall of shame is about. you get a bid and you -- it's a very nice bid from a very good company and we all know that simon property is well-run. >> well-run company. >> we sit back and say, i'm not taking that bid, i don't care i don't care? >> they had an independent committee. the independent committee believed it was not substantial enough number. my reporting indicated simon was not willing to go to $100 which it's not clear that would have resulted in a deal. there was a brief phone conversation, it appears, last week, but there was no real interaction between the two companies. >> amazing to me. >> by the way, another indication on godaddy, now 23 to 26. >> wow. >> interestingly, s&p points out, it's the third tech ipo year-to-date in the first quarter of last year we had 14 tech ipos.

karen finer explained why she was shorting macerich last week. take a listen. >> everybody knows 95.50 is not enough to get it done, so april 1st, which is the deadline they put out is going to come and go, we are not going to see macerich engage. we are not going to see negotiations. and we will see simon drop. and we know this because simon took off one of their most useful weapons, took it out of their quiver in that they didn't nominate directors. >> good call. >> thank you. >> it worked out. >> yeah. >>> coming up, trouble in the financial space. we've got one name that's been range-bound for more than a year. it could break down soon. she'll tell you what it is in our technical difficulties segment next. >>> citi laying out five reasons why the tech titan will keep going higher. the analyst behind the calls just ahead. >> the great thing about "fast money" is you're getting multiple perspectives. >> my specialty is watching u.s. equities. >> i am a long-term investor for sure. >> i've always looked at technicals more than fundamentals. >> i

>> i'm fascinated by mac, the macerich macerich. >> fascinated that they don't do the right thing i'mrealty, don wood with simon property, this is shopping center not shopping mall but these have been great companies because you don't build shopping centers anymore and there's a shortage. don wood, take a look at the stock, a bankable stock. huge how big the reit is. amazing man. i want to hear more about what happened. bricks moore said the same thing. there is a shortage of construction in the country that if you could ever unleash, it would give us 3, 4 gdp. >> it's not clear we'd need any more shopping centers, hence, why they're not building them. >> you need new housing developments away from urban centers. >> zell argue everybody's moving back to the city. >> bush wick is red hot. i've been looking, ticker kicking the tires. >> good long weekend. >> why wouldn't you be? >> see you tonight, "mad money" 6:00 p.m. >>> the s&p credit analyst who revises his outlook on mcdonald's to negative. what he thinks about the company's wage hikes. dows up 93 points. back in a moment. woman:

>> macerich and simon. >> that guy could be on the wall of shame as early as this week. >> and dr hortonl with gains of mid to single digits. >> horton's chart is a thing of beauty. it's almost like that slope from k2. as long as we don't get to the tops like base camp three. >> home builders overall are showing very positive charts. >> they've been great. rates are down. people feel that now the spring has sprung and people are looking at places again. toll house and fabulous inner city stuff. a lot of people are moving back to the city. one of you guys corrected me on that. i said people moving back. a way to play those quarters. those are beautiful. bought a piece and land and said he had to get obviated because of the super fund, but that koanis is going to be venice one day. i'm putting that out there. >> i can see the gondoliers right now. >> i'm building a gritty palace there. >> it's a super fun site. >> that's okay. those get resolved within my grandchildren's lifetime. >> dow is off 76 points. let's get to bob pisani, see what's moving on the floor. >> this is not as bad as the

. >> to your point, watching simon try to buy macerich there are good operators.th in malls at all. >> right. a shopping center mall if you look at what federal realty's doing, mixed use, apartments fabulous tenants with exciting profits, or if you look at restoration hardware not a mall store but museum dedicated to furniture -- >> what the stores look like. >> companies are doing forward thinking they had to be worried about amazon from day one. all they do is think about amazon. nordstrom, the same way. nordstrom's able to bring in a lot of people. macy's delivered excellent numbers. so, just don't write off the mall. >> pier 1 is a beat by 3 cents at 39 cents. they guide lower than expectations. div hike as well. >> i feel bad. alex smith, he had a big turn and told you when they started doing omni channel, really terrific. it's finally come. a horrendous stock, tough stock to own. >> pulte, downgraded over jpm to underweight. housing is vulnerable not only going to underperform, but that housing is vulnerable after a strong year so far. >> thanks for nothing.

seem moo macerich modi in london. could best describe it as the "it" store for most londoners as opposed to hard rod's. >> absolutely. this is clear here in london this is not just apple's curb tonight wearables but the luxury space. showcasing here, a high-end department store, that houses all of the top luxury brand names, prada, inside you'll see the apple watch steps away from taag, rolex. many say this is the former ceo of burberry apple's ceo, her decision to make the watch into the high fashion category. big question if you had ten grand to spare, would you buy a rolex or an apple watch? i pose that question to a couple of customers. >> rolex is classic. this is techie. i spend too much time on my phone. >> rolex. >> tell us why. >> because i would rather just like -- >> the rolex holds its value, apple watch defends if it's like an iphone is it going to be updated every year? so i think it would be obsolete in the next three years. >> reporter: doors opened a couple of hours ago. no line at this moment most pe