nelson peltz and big ackerman set to take the stage.y get right here on cnbc as the final hour of "squawk box" begins right now. >>> good morning again, everybody. welcome back to "squawk box" here on cnbc first in business worldwide. i'm becky quick along with joe kernen and andrew ross sorkin. we are less than 90 minutes away from the opening bell on wall street. we are at the fifth annual delivering alpha conference. jim cramer and david faber are both here. we'll talk to them in a moment. look at the futures. you'll see now the dow futures up about 8.5 points. nasdaq up by about 12 points. we've also been keeping an eye on the markets in europe at this hour. today is the day for the vote in greece. right now you see that ahead of that there is some trepidation in the markets. advanced but slim when you look at the dax up less than .2%. in porch ghoultugal a gain of about one-third. >>> the greek parliament is in session. they're debating reforms creditors have insisted upon for the third bailout. a vote expected around midnight athe

i think you might think about it more than nelson peltz thinks about nelson peltz. you love activism. >> promise you as this was being written last night that somebody in that building -- somebody in that building was speaking about nelson peltz. it's the wi of the world. >> and i'm thinking back on your cynicism about -- >> my cynicism about the feds propping up the markets? manipulating the markets dare i say? >> there was something called a bernanke put and now it's a yellen put. and then you say it's myth. the minute they saw the market break. >> now you're coming along with me? >> it's not same as china, but it certainly is -- >> if you're sitting in china looking that -- >> i think that the understand pinnings of the math here are currently much more solid than over there. >> that i won'tdy ace degree with. >> they ran up on speculation and excitement and margin buying and the chart supposedly looks pretty similar too. that means there's a long way to go. >> kind of exciting. >> comparisons to 1929 in the united states. >> what if we didn't have that year 1929

because activist investor nelson peltz is whoeverrerring. will he -- hovering. gear up for another proxy war. we have senior correspondent charles gasparino. charles? >> i don't know he will do what he did last time. i'm not an expert on proxy battles, you have to wait a while before he fileds the last one. it was rejected by investors. he has to wait another year. he has his eyes clearly on dupont and behind the scenes and agitating. what we hear from people closest to mr. peltz, if the earnings come out tomorrow from dupont and they underperform you will see him reignite so of his attacks. announcing second-quarter earnings before the bell. we could do everything from pushing for more board seat at some point to possibly getting rid of the current ceo. replacing the current ceo with somebody else. we do know that mr. peltz has approached board members, mr. breen and what is the other board member's name, galgi. approached both of them to see if they're interested in taking over for miss coleman, ellen coleman. both have said no at least so far. but he may go b

liz: jeff, do you know nelson peltz? >> yes, he lives in palm beach part of the time, where i live.: you think he'll stick with the stock and continue to agitate it? >> he's a very, very shrewd, smart guy, i wouldn't bet against peltz ever. liz: we wouldn't bet against you. jeff greene and charlie gasparino. stay tuned for fox business' live coverage and analysis, twitter earnings coming out within 10-15 minutes, "after the bell." the little blue bird, will it beat, meet or miss? from greece to china to our own economic issues at home. the speed bumps mount against janet yellen's desire to tighten interest rates. it will delay her? . . ♪ melissa: first -- liz first all the hang ringing greece might be jettisoned from the eurozone. could asian superpower market drama be latest roadblock to fed rate hike. will janet yellen move full speed ahead come hell or lie water and tight inch rates in september? david joy from ameriprise, along with of course the former richmond fed senior economist ward mccarthy. right after the bat i have to ask you, is china a threat our rate hike in septembe

look for nelson peltz's response to those earnings.rform as a lot of people expect them, you should watch what his statements are. it will be pretty clear from that -- liz: you think they're financially engineering as we speak to make sure they don't underperform? >> that is a good question. a lot of companies do that. they sort of manage their earnings. i don't know. we'll have to see what happens on the 28th, but clearly peltz is not going away and he thinks he has good evidence. the evidence is they have a ceo who he believes does not have the chops to run the company. the points about the you know performance, the need to change the company and putting him on the board he thinks will have more resonance when there is more evidence that they underperform. liz: 28th of july, earnings come out he will come out swinging. >> we'll see. watch his statements. he is a pretty diplomatic guy. he is not a bomb thrower but pretty stern guy. he wants to be on the board still. he really wants to be on that board. liz: charlie gasparino, thank yo

the activist firm led by nelson peltz has taken a second stake in pebt air. they want to consider buying up it is rivals in an effort to con e the fragmented market. >>> pep boys may put itself up are reviewing strategic options to increase shareholder values. i think they should get rid of manny and mo but keep jack. the chairman of qualcomm says the company has no plan to sell off its chip business even as investors hav b pressuring the company to split up because of the intense industry competitioe stock is up a penny today to $62.63. g electric continues make progress in trimming its finance arm as it works towards the goal of generated 90% of the income from its industrial base. so far this year shares of ge have risen almost 6%. mary thompson reports. general electric's goal is clear, sell close to 100 billion in financial assets by year end. >> now is the time to do it. >> rep ceo embarked on an ambitious plan for 2016 half of what it wants off the books for this year. shrinking e finance arm will transform ge and by 2018 90% of the profits slated to c

dupont is nelson peltz was saying they're going to miss the quarter.jor miss not a minor miss. and, obviously, i think there's going to be action. >> the guidance may be painful for people on the stock right now. >> the dividend was cut. there's a mixture but let's see what the constant dividend is going to be. it's not a good story. we have a bounce back in transports. and we have a bounce back in oil which is rather shocking. >> pfizer we mentioned merck, but like merck, pfizer is a beat and a raise n 56 beats by $0.04 moving to inno native products. it's all about getting out of the primary care business. >> i keep thinking allergan that stock -- usb raises the price target. cow wan finally the $400 price mark i've been looking for. >> that move to sell the generics business at teva. he's not necessarily a buyer. he's going to take it when we can buy it and sell it when there's a market for it. >> 17 times endbita. that was a brilliant trade by that man. >> and even more so if the trades are approved. i'll have more but you're right on allergan. ref

it makes up the buzz kill and a thorn in the side of nelson peltz. >> he sent a letter to the board,hink march 14th, the stock spiked to $80 and it has never seen that level again. it is going straight down since. we have 2% from the all time high. here is a stock that has come off some 18% of the last two months. something is askew. it turns out maybe he is right. maybe they need to shake it up, but you have to avoid the stock until at least earnings which are on july 31st. >> a more likely candidate for change? >> absolutely. if you follow him in at any point into that notice or after it, you have gotten hurt. i think the more pain to the downside you wait to get long until earrings release. >>> the country's birthday is this saturday, and some american companies have been around almost as long as the constitution, but should you buy and hold for the next 230 years. so let's get the picks. we're fast money, we don't typically say buy and hold forever, but -- this is refreshing, long money, slow money. >> i like google. i like it short term and long term. so i think that google, bui

nelson peltz and carl icahn poses grave economic threat because they force apple or dupont to do stockcks. cheryl: seems like your point is she has nobody else to go after. and going after goldman she needs their money. taking some much money from the clinton foundation and her own coffers and have their own speeches, that was the worst speech in the world, can you imagine a 400 grand to listen to that nonsense for two hours that she does that, gets all this money from goldman, all this money from blackstone and guys like tony james out there in private equity land so she goes after is this narrow narrow part of wall street and huge economic problem and take her at this word is small potatoes. cheryl: is that the strategy? >> give us one example something you cut from the budget. this is an example and they say that is not very big. >> and an element of the economic plan. this is a small policy but an important idea, the issue of short-term activist investors not wanting companies like apple or somebody else. >> give me one name of an activist investor is that is out there hurting the

let's get to bob on the floor. >> reporter: great stuff there with nelson peltz.oy listening to that. right now a mixed opening. financials are leading. energy stocks are down. over in europe kind of a mixed market there. let's move on and show you the china stats. the important thing is everything turned out to be good. gdp at 7%. that's what they're looking for. that's the target. more importantly in a way, industrial production better than expected. retail sales better than expected. this is an inexact science. if you can believe the numbers, and what did the stock market in china do? for the second day in a row, we were down. now, this is not lost on observers. everybody now believes that it's not the economy that moves stocks in china. it's the appearance of government intervention. that's how things have become because overall, this should have been very good news. a quarter, about 700 of the stocks in china and the shanghai and sheng accident are still not trading. financials are leading. decent earnings from the bangs. p and c beating u.s. bank corp. bank

early in the day bill ackman and nelson peltz who can talk about any number of names but lots of intrigueackman's latest target which would account for 15% of his firm's capital or roughly $3 billion. we know he's taking a big stake in know mad foods, the british acquisition company and perhaps he'll say more about both of those. keith meister, another big player and two of his biggestiums, yum brands and williams company seeing lots of action. yum reports after the bell. meanwhile williams is fighting off an unsolicited bid from energy transfer energy which has so far undervalues it and delivering alpha wouldn't be complete, scott, without a closer from carl icahn who is hopefully going to debate larry fink on the subject of activism itself, something i would like to see and hopefully he'll shed light on his recent decision to dump shares of netflix and maybe give us his latest thoughts on apple. always constructive ideas there. >> kate, looking forward very much to that, all of us are, in fact. kate kelly, we'll see you tomorrow. >> we'll be live from delivering alpha, tune in for jeff

wall street heavyweights like bill ackman, nelson peltz, jeff dunlop and paul singer will be sharingheir top ideas for the year. we'll hear from blackrock's larry fink as well and carl icahn. so you will not want to miss that. again, this wednesday. coming up next, oil has gone up 13% in just the past month but this man here has ab undn under radar play that could get a boost or that decline. plus it's all-star week and we've got your all-star stock picks, names that could be a home run for your portfolio. stay tuned. the challenges of keeping everyone working together can quickly become the only thing you think about. that's where at&t can help. at&t has the tools and the network you need, to make working as one easier than ever. virtually anywhere. leaving you free to focus on what matters most. i built my business with passion. but i keep it growing by making every dollar count. that's why i have the spark cash card from capital one. i earn unlimited 2% cash back on everything i buy for my studio. ♪ and that unlimited 2% cash back from spark means thousands of dollars each year go

he is running around saying activist investing is costing jobs because carl icahn and nelson peltz goll corporate management to do stock buybacks. there is no real study that says this is a big cost. neil: that is what is going on. they have a loyal community of ten rich guys. >> one line she used, the tyranny of earnings season or reports. i don't disagree, stocks overreact on quarterly earnings. it is at antipathetic because a lot of individual small investors overreact with that. i would like to see this report was the like the europeans that this is all a smokescreen. this is all a smokescreen. this is what the problem -- she is talking about raising taxes so that we will stop a certain kind of behavior, class a progressive -- that is not her job to stop me from trading. it is not her job to stop the ceo. >> you don't like the quarterly earnings reports and the obsession and i can understand that the the quarter beer earnings announcement does that cost jobs? >> noaa doesn't. >> it is the dumbest thing in the world. 5 or 6 different things she should be talking about that get comp

bill ackman always a pace setter starts the day with a panel with nelson peltz.ctually tell us. ackman recently took a 22% stake in nomad foods. that's a british acquisition company set to focus on the food business. but he's also been going big on another as yet unnamed investment that he says is costing up to 15% of his capital or roughly $3 billion. peltz has just loaded up on the valve maker pentair. but he hasn't elaborated on his his -- we'll also hear from keith myselfer and jeff smith as well as tom sandell and carl icahn who recently pulled out of netflix. he considered doing that once before, you may recall but his son talked him out of it. he may tell us tomorrow what he was thinking in late june when he tweeted that he had gotten out of it. and david has questions about it too. >> yeah. david now saying i think his quip was that red ink is the new black. >> and the season three of "house of cards" was set to compete with ambien. but he makes an interesting point. he said this about pioneer resources in may. totally different company, obviously, but hi