autonation ceo mike jackson joins us with reaction on what he thinks needs to be done to keep the auto> a look at the deal plus the ceo of sonic on the fast food chain's quarterly results. the second hour of "squawk box" begins right now ♪ >>> live from the beating heart of business, new york, this is "squawk box. >> good morning. welcome back to "squawk box" right here on cnbc we're live at the nasdaq market site in times scare. i'm andrew ross sorkin with michelle caruso-cabrera and mike santoli. take a look at futures at this hour red across the board about 97 points off right now on the dow. nasdaq off 37 points s&p 500 off about eight points >>> a merger this morning. conagra buying pinnacle foods. the figure excludes assumed debt and comes to a per share figure of $68 a share cnbc reported yesterday that a deal was close conagra will take on debt to make that transaction. >>> we're going to get the goods numbers. that's following the april drop of 1.6%. >>> general electric is getting praise from one of its major shareholders after announcing moves yesterday. telling "the new yor

look at the jobs that have come to this industry here's the autonation ceo mike jackson. >> automotiveariffs will make steel tariffs look like a company picnic where everybody's kissing and hugging. this will unleash, if it comes about, a real trade war. because the numbers are just so much bigger. >> mike jackson has a number of dealerships and he is not the only dealer that's worried it's automakers, parts suppliers, dealers everybody in the industry is worried. take a look specifically at the german automakers. they imported last year just under a half million vehicles. you slap a 25% tariff on those autos coming from germany, guys, and you have the potential there to see a real drop in sales. that's why shares of daimler, bmw, volkswagen are all lower. >> i know why the german car makers got hit after the tweet but why is a japanese automaker saying it's going to cost american consumers to buy one of those cars built in the u.s. as a result of this >> overall costs overall costs. the global supply chain would be altered and thrown into disruption you're going to see costs go up acr

. >> he started it all and mike jackson had that great quote. he was a little bit bitter about being replaced, fired actually, replaced by steve kerr. they asked him about the championship and he said you nn without appreciating the caterpillar. >> right. he was referring to himself as the caterpillar. >> he built it and he deserves credit. i think he has received enough. there is libby schaaf, the mayor of oakland. >> i think she said that they actually met at one of the previous warriors championship parades, so when she knew this was going to happen on friday evening, they reached out to each other and said let's do she is on that giant snail car, we've seen it a couple of times before. it is the city of oakland celebrating the golden state warriors. the bay area has two major football teams, two football teams, but only one basketball team. >> that's right. it galvanizes the area. you get so many people who love one team and hate another. but the warriors, they stand united. they unite the bay area and that is a really cool thing to say. i c

as a result, affect what you used to think you would earn remember mike jackson.at he was doing it was going mean a couple of -- >> then i also think of walmart. >> when they did it. >> they said, we're going make investments, pay the employees more the street took the stock down >> they don't feel like going through the motions of explaining everything. so they don't want to say anything it's not good for the shareholders >> i agree >> this is the real question look at companies that provide no guidance. how volatile or not their stocks are. >> you have three in your v universe >> yes >> how do those match up with the 17 giving you guidance >> and how is their performance. >> marty, i'm sorry. we'll get you in in a moment >> is that a different group of people the base of the stock market is it a different mix? >> one company i have that gives no guidance is costco. that stock has done well there have been quarters they'll have quirks in the numbers here and there that trips the market up. that's more rare but overall, the stock's doing well a company like home d

mike pompeo. let me bring in hallie jackson. we me the summit is back on. >> even if it's not, it's an extraordinary moment. the last time we saw anything close to that was 18 years ago when a north korean leader met with then president clinton. the president walks him to his car. it lasted an hour 15, 1:20. it is very long time. too soon as the president waves to reporters there, he may walk over to the cameras and make a statement about the meeting, that is what we're waiting for but i will tell you i've been on the phone with white house officials during this meeting and this is a very group inside the oval office. two men, president trump's kim yong chol, met with mike pompeo who you see by the trunk of the suv in new york. the secretary of state says the believe they made proesor potential talks as you see the president waving interpreter, alongside his own interpreter on the u.s. side. the question will he walk over and it looks as if he may as a small group of reporters yells questions. >> meeting on june 12th in singapor

hallie jackson having a slight interaction with mike pompeo. let's see if he answers her. maybe not. also joining us, a former cia analyst and south korean foundation chair in korean studies at brookings institution. john, thank you very much. north korea when they come in to this, how much is it going to be about attitude for them? >> well, kim jong-un is a one-issue kind of leader for north korea, the u.s. is it. so kim has been preparing for this type of meeting since he was young. this is a meeting with a sitting u.s. president that his grandfather and father wanted. and kim 3.0 has actually achieved this. i want to piggyback on what nick was saying about the policy processes. i was there for making -- helping to prepare for the policy meetings when i was at the cia and preparing my principals for these meetings and they are important for coordination and to find out what the equities are of the pentagon, of cia, of intel community, of state, treasury, and all of the functions of government who have a stake in these types of meetings. so the fact that the policy prophe

ly michael jackson's beat i and they got the crowd in south carolina to do theillage people. they did ymca.♪ . i wonder whate mikeave done. another song that was played, elton john's rocketan. that happened. ♪ . queue of elton yjohn. thereou go. ♪ . ♪. >> they weren't really into it. kind of ironic they're playick et man from back when they were mortal enemies now bestees now they're tryinngto brit back. it's just a big elton john fan. but we got another good sign anti-united states rally in north korea. that was an actual thing i did in rally kicks off an entire koreanoc war fed events meant to strengt unit. north korea issued anti-postal service to commorate the event. presidentked of his success with north korea pinpointed it back to within single event. >> andt started with the olympics, with chairman kim said, wo want to gothe olympics. i said, that's nice, that's a bigm difference fro the dialogue we were having. slight. they want to go to the olympics and the olympicsould have been a massive failure and turned out to be a massivece suc and president moon of south korea gives us the credit, they were not se

. >>> i'm hallie jackson on assignment in singapore where secretary of state mike pompeo made some news today on another big story we're following. those tensions with our friends after president trump refused to sign a joint economic statement at the g7 summit in canada. secretary pompeo is pushing back basically saying rift? what rift? >> there are always irritants in relationships. i am very confident that relationships between our countries, the united states and those g7 countries will continue to be a move forward on strong basis. >> a little bit more from singapore but for now chris jansing in new york going to pick it up on what's going on with our allies abroad and developing news just happening in the last couple minutes. i had, chris. >> let's get to that breaking news first. the united states has decided, the trump administration, to slap sanctions on several russian companies, businessmen for engaging in cyberattacks and assisting russia's military and intelligence services with other malicious activities. this came from the treasury department saying that it was going to i

and the fact that mike pompeo was the point person, again, and not john bolton, the national security adviser, as halle jackson pointed out, who has been so much of a hard liner, even more than pompeo, and who has talked most recently about regime change -- i thought the whole thing was remarkable. >> i did, too. >> mikele a, let me get your take on what i observed that seem to be not what we might expect. a week ago he says this isn't happening. now it is happening. you have someone who -- even people inside the administration does not prepare sufficiently for these kinds of meetings, doesn't have the kind of depth of the yet the reporting we are getting is that there were things that were discussed that were indeed things of substance ask. the person in the campaign, who flippantly said he was going to have his son-in-law solve middle east peaces thing two going to be easier now comes on this and says we need to slow it down. it's just the beginning of the process. what do you make of what we are seeing from president trump right now? >> look i'm very happy to see that today, once again, the president is cle

jackson. a lot celebrating in newcastle and go to gerryjackson. a lot ofjumping around and clapping. for more than 2000 fans here in newcastle boss mikey mike times square, though wave of joy and relief is scarcely beginning to subside. —— here in newcastle's times square. zig zag to england. it's been a very good natured event. —— 6—1 it's been a very good natured event. -- 6-1 at it's been a very good natured event. —— 6—1 at england. did you anticipate this atmosphere here today? the atmosphere against tunisia on monday was also fantastic. the atmosphere today was incredible. we brought the whole city together. we didn't expect that victory. we thought england would make it harder for themselves and it would be very cagey, but the city has gone wild. nobody expected this. when you seejoin has gone wild. nobody expected this. when you see join unconfined like this, how does it make you feel? job done. for all england fans and everybody watching the event this afternoon, we are all football fans, and to see the joy on peoples faces and to see the joy on peoples faces and the way people have responded to this campaign, it's fantastic.

mike pompeo in singapore and trying to downplay the drama. there are always irritants in relationships. i'm very confident the relationships between our countries, the united states and basis. our thanks to hallie jackson>>> blood donations a the eye catching way companies are encouraging people to donate more. a little. thought i could de-stress with some zen gardening. at least we don't have to worry about homeowners insurance. just call geico. geico helps with homeowners insurance? good to know. been doing it for years. that's really good to know. i should clean this up. i'll get the dustpan. behind the golf ubs. get to know geico. and see how easy homeowners and renters insurance can be. from the moment you met you wantecomfort and protection that's why pampers swaddlers is the #1 choice of hospitals to wrap your baby in blanket-like softness non-drowsy children's sclaritin allergy relief.elf the #1 pediatrician recommended non-drowsy brand. because to a kid a grassy hill is irresistible. children's claritin. feel the clarity and live claritin clear. why settle for just clean when it could be finished? when clean just isn't clean enough there's finished. new finish quantum's three chamber technolog

mike forster, chairman of innovate mississippi and founder of the mississippi coding academies in jackson, dr. sarah oh, research fellow, technology policy institute here in washington, d.c., mr. morgan reed, president of act, the app association here in washington, and mr. roger koch who senator nelson already referred, to ceo of shield group technologies of west palm beat. so we're delighted to have each and every one of you, and we'll begin to my left with your opening statement of no more than five minutes. mr. forster. >> thank you. chairman wicker, ranking many schatz and members of the bcommittee on behalf innovate missy and the mississippi coding academies, i want to thank you for this opportunity to testify today on how we just might be helping bridge this enormous gap which exists between high-tech employer needs and for entry level programmers and developers and the available resources that they have from our community colleges and four-year colleges. before i delve into that, and i'll be brief in my comments i first want to say something about innovate mississippi. our mission

mike brown, he is bringing the team's newest piece of hardware right into our studio. the larry o'brien trophy. i am excited. >> reporter: sad news. 20-year-old actor and musician jackson o'dell has died. >> is known for his roles as the goldbergs, modern family, and icarly. police found him unresponsive in a sober living facility. the cause of death has not been confirmed. they do not suspect foul play. >>> the ladies of ocean eight took the top spot at the box office. >> in 3 1/2 weeks we will host an annual ball. we are going to rocket. not the ball itself, over $100 million. >> the female dominated reworking of the popular oceans movie franchise opens with $41 million. it features sandra bullock, kate blanchette, and anne hathaway. >> is still the top spot from solo the star wars story. the movie is still ranking at the lowest grossing star wars film in history. deadpool two made another 13,000,002 tech -- take the third spot at the box office. >>> we are watching our commute and looking for problems. >> reporter: it looks all right. we do have some commutes that are little better than normal. we have been talking about in june we get a little bit of a drop off. at

black nitsz head coach rudy jackson, parent and chaperone orlando clay and players regan mcgill and garrett peterson. thank you all for joining us. only the coaches are mikedt there doing a lot of the heavy lifting you might say. coach, i will start with you. you were coming back from a championship. you were riding high. 13-0. you were undefeated team. great team. what did you see on the side of the road and what was the decision? >> the decision was we needed to pull over and act fast. >> did you see the accident or did you just roll up on the car overturned? >> personally, i was in the van that wasn't there. i was in the one that was in front of the accident. i seen -- i actually passed the vehicle that actually flipped. and about 20 minutes later i got a call and my other coaches and chaperones told me that they had to stop for an accident and help somebody out. pete: orlando, you were there, i believe, talk to us about what you saw and what action was taken. >> we were probably a couple hundred meters back. we pulled up. we saw the dust. and after the dust kind of settled, i ran up to the suv. the guy was in and out of consciousness. i called some of

for jim jackson and michael rapaport and mike, i'm brian custer. thanks for joining us.s big3 on fox as we travel to orac arena in oakland. home of the nba champions,ta the goldte warriors. cube, ll was hr 14,000. exclusively here on fox. big3 i woke p in memphis and told...) ...and told people about geico... (harmonica interrupts)w they could save 15% or more by...ni (harmo interrupts)ju ..st calling or going online to geico.com. (harmonica interrupts)hu (sighs ackles) sorry, are you gonna... (harmonica interrupts) evico.erytesould save yu 15% or more on car insurance. dependaby award for its midsize car-the chevy malibu. i forgot. r chevy also won a j.d. dependability award for its light-duty truck the chevy silverado. oh, and sincchevy equinox and traverse also won chevy is the only brand to earn the j.d. power dependability ard across cars, truand suvs-three years in a row. he phew. third time's tharm... frhly prepared chicken. the delicious kfc $20 fill up. wi eight pieces of extra we'll surely get your kids off their phones. and they may even look at y... their lov