michael regan, thank you.livia: we do have breaking news coming across the bloomberg terminal from carl icahn. for more, we go to julie hyman in the newsroom. open: he is riding an letter to tim cook in which he writging the apple ceo-- an open letteri to tim cook in which he is urging the appleng ceo to buy back. -- writing. ussaid tim cook please help convince the board that you can invest in returning cash to shareholders and in growth for the company. he is saying apple shares are worth $240 each. right now they are trading just shy of $130. how is he saying apple can get to the increased value for the shares gekko he says the company is not just poised to enter but dominate the auto markets and the television market. he says we will see more of an apple tv offering in 2016, and then the company will enter the car market right 2020. i am still going through the letter, but these are a few of the highlights we are seeing in there. he says he gets the $240 valuation i looking at 2016 earnings per share of $1

carl riccadonna, michael regan, thank you for joining me. on "bloomberg market day," we could be looking at a new record on the s&p. we will discuss when we come back. ♪ and choose world choose, choose, choose. but at bedtime? ...why settle for this? enter sleep number... don't miss the memorial day special edition mattress with sleepiq technology. sleepiq tells you how well you slept and what adjustments you can make. you like the bed soft. he's more hardcore. so your sleep goes from good to great to wow! now we can all choose amazing sleep, only at a sleep number store. save $500 on the memorial day special edition mattress with sleepiq technology. know better sleep with sleep number. alix: it is coming up to 4:00 in the afternoon. here in new york, we are close to the closing bell. this is "bloomberg market day." i am alix steel. ♪ and we did it. another record on the s&p, by one point. second day in a row that we are looking at another record for socks. the s&p unable to keep its intraday record yet, 2125, but another record for stocks.

-- carl riccadonna and michael regan. drew: i will give this report and a minus, i would have given it a solid a, but if people keep getting hired i don't need to forecast anything else about the u.s. economy, it is doing just fine. alix: carl? carl: be minus if we see another downgrade, this is a third -- the third month in a row that we have seen these revisionsdrwe: we are going -- revisions. drwe:ew: we are going to see cage fighting later. [laughter] alix: it's really a crazy. michael: the stock market is taking this as a positive, there has been a lot of talk among some people that they believe there is some kind of pent-up wage inflation that could show up in these numbers, and obviously that has indications of profit margins and the fed, of course and that number being pretty cool today, is one of the reasons that the market is taking it pretty well. alix: we have the average hourly earnings that are pretty much flat or slightly lower, but then we have the employment cost index slightly increasing at the end of yo

scarlet: ok, michael regan, editor at large, thank you.d to evaluate a possible for salesforce.com. this is according to people with knowledge of the matter. salesforce is working with two investment banks to determine the appropriate response to approaches from unnamed companies. we now know that microsoft is one potential company that is looking into buying salesforce.com. microsoft is not necessarily in talks with salesforce. no deal is imminent either according to those that we spoke with, that microphone -- microsoft is one potential bidder of salesforce. we will have more with alix steel and street smart, next. ♪ . . alix: welcome to the most important hour of the session -- 60 minutes left until the closing bell. i'm alix steel and this is "street smart." concerns about growth and race about greece. we are counting down to earnings from herbalife and electronic arts. plus how warren buffett and bill ackman are influencing the u.s. bond market. "street smart" starts now.

representative michael regan says he plans to introduce the bill to rename a turnpike bridge over theusquehanna river as the joseph paterno memorial bridge. the bill would have to pass the house and senate and be signed by the governor. earlier today the ncaa restored more than 100 wins to paterno and penn state. >>> coming up this afternoon starting at 3:00 it's "ellen." actress jennifer garner is on the show. then it's nbc 10 news at 4:00. this afternoon scouting out a senior. the local teenager who may on on the brink of becoming a big hit from high school to a career in the major league. learn about the talents that have pro scouts eager to see what he can do with his pitching arm. >> it is gorgeous and it continues today. what a perfect memorial day for all the celebrations and for the remembrances. the temperatures in the 80s but the humidity stays low. it's the wind that's picking up. that wind will carry into tomorrow and along with it will come some humidity. you will feel the difference and it will be a hot one tomorrow afternoon and again on wednesday and starting wednesday

we talked briefly with michael regan. hat is going on at the higher and of the market. their disappointing results at burberry. is it the canary in the mine? michael: i think a lot of people are slowing down in china. even companies that have good performance in china, it is not coming from the first tier cities, the fourth and fifth tier. everyone has talked about the issues of china restricting some of the purchasing outside of china the gifting, the lack of gifting, etc., etc. i think burberry is a class stock and company. erik: why? they havemichael: they have not mortgaged their future. we had the same talk last year about louis vuitton. stephanie: and gucci. michael: the louis vuitton business is stronger. look at nordstrom's, which reported earlier in the week. business was up half a point, their online business was up 20%. that was appreciatively better than the other retailers, the department stores. i think with the better stores that have something to offer the customer, that connects with the customer, where th

regan, it's michael and jeff up in the fox booth. you got a second for us. >> 908 and 2 on the top. yeah i got you michael. >> i appreciate it. we wanted to check in. you put yourself in a position to win this race after nearly being wrecked on lap two. how are you feeling about the scramble to the finish? >> i feel like it's got to be a scramble. things always get wild here at the end of these races and it's done that today. so hopefully we got rid of the magnet and let somebody else borrow and stay up here and race and hopefully get a trophy. >> regan, this is jeff. you're in the top five. you're in a pretty good position. you know pretty well how to get it done here on the final lap. do you think you can do it here again today? >> yeah. i think we got a car capable of doing it if track position is the biggest factor if i can get it to where i have an opening. then we should be able to make a move. i see a lot of fords up there so we'll try to get these guys lined up ahead of me. >> not taking up too much time. one last thing. we've seen a lot of pushing. how do you manage that yo

regan deck watch officer. san juan puerto rico. stephen michael reynolds jr.ineer cutter spencer, boston, massachusetts. his commission will be presented by his father, u.s. air force national guard. jessica lee richardson. deck watch officer cutter willow, new port rhode island. victor nicholas rosarta, student engineer, seattle, washington. nicholas walsh, rogers graduating with honors, deck watch officer cutter vigorous, virginia beach, virginia. devin francis rodi. deck watch officer, cutter dependable, virginia beach, virginia. her commission will be presented by her sister, lieutenant krista zangel, u.s. coast guard. nicholas javier ramaro. charles ton charleston, south carolina. michael rossi graduating with honors, deck watch officer, cutter sherman, honolulu hawaii. e elizabeth austin runsty. daniel glen sabarin, deck watch officer, cutter spencer boston massachusetts. elise christine sacko graduating with high honors, student resolute, st. petersburg florida. nolan keith saley graduating with high honors. deck watch officer. honolulu hawaii. darlene,