and i don't know if people remember, proctor thought that try and loss and we're talking about nelson peltz, nelson joins the board. there was a lot of rancor, not a lot of attacks i want to talk about when shareholder democracy works and a guy gets on a board that doesn't want it and it turns out to be okay maybe it is a blueprint for how to fight for shareholder democracy if you think it's worth anything, with you i think it is. >> we talked a lot about the performance of the stock, of course >> best in show. >> right and organic growth. it's somehow reappeared on the top line. >> right from the day nelson peltz got in. >> i think p & g would say we had much of those plans already in place you know that, it's still a back and forth. i will be very curious to see -- >> you don't think the whole 48% entirely because of nelson coming in and talking about small is beautiful are you really and developing things that millennial's like? are you saying that none of hat has /* it has to do with a man that flew in and read testimony ryiot act? >> i'm not saying some of it they had to do with things

delivering alpha with other notable speters who include vice president mike pence, david taylor, nelson peltz also mary e rcherdos. >> so good stuff final trades quickly >> usb >> jpmorgan staying long >> and van guard extended duration >> and ipg >> and twou, it is a $19 stock and they are buying the $22.50s during the show. >> great hour, thank you all for doing it and thank you for watching have a great weekend "the exchange" begins now. >>> hi, everybody. here is what is ahead. markets almost touching all-time highs. if we get a trade deal, how much higher will stocks go or will it be a buy the rumor and sell the news event we'll debate that. plus new york, london, d.c., chicago and all of these cities, we work oig is the largest office tenant. what happens if the company can't pay its bills. we'll ask as ipo prospects keep dwindling. >>> and the fed meeting just days away and a major rebound in global interest rates. with markets still

they go this route, by the way, activist investors often go this route, we should point out that nelson peltzid of jeff immelt and then to get rid of john flannery to put in the current guy that runs it. remember, this does happen. what we are hearing is elliott management is weighing whether to prod at & t senior management about bringing in outside talent, considering outside talent as a successor of randall stephenson. we don't know if they made this decision yet. they are talking to people about this. that's how we are getting this. but there is clearly discussions at elliott management which declined to comment on this. everything is being sort of hunky-dory so far between randall stephenson and elliott management. from what i understand, they had a meeting earlier in the week. i think that's been out in the press, where they discussed some broad topics. this is where it could get very very nasty, if they do prod for major management changes. if they do prod stephenson not to appoint stankey as the heir apparent. this is where things get rough. by the way, no word on what's going on with

nelson peltz and more. plus, we'll hear from sec chairman, jay clayton and joe kernen will sit down for a liriala.m. with vice president devengphco the halftime report is back in two minutes. oh, wow. you two are going to have such a great trip. thanks to you, we will. this is why voya helps reach today's goals... ...all while helping you to and through retirement. can you help with these? we're more of the plan, invest and protect kind of help... voya. helping you to and through retirement. >>> roku shares are sliding. comcast unveiling a similar service, however the stock still up over 200% and googheim saying it's going higher. they keep the buy rating we've made it our call of the day. man, this thing has been a bonanza. up 355% year to date >> this volatility today is is not the first day. look, it's clearly been momentum stock. it's overcome fund mamentals and valuation. momentum in the fundamentals has been very strong, but b i don't believe this is the kind of market to go into for overvalued equiti

other speakers include pmg ceo and nelson peltz who spoke in a proxy fight, they will sit down with jam erdoes overseeing nearly a trillion dollars in assets and there will be a panel on how to do goodbye investing well cnbc coverage will begin first thing tomorrow and will continue throughout the day, guys. >> leslie, thank you can't wait for tomorrow. quick programming note as we go to break, do not miss the bond king on the halftime later today a cnbc exclusive at 12:30 eastern time, a day after he said he expects the fed to resume the balance sheet, quote, pretty soon. more "squawk on the street" when we come back dow is down 40 - [spokesman] if you've tried college but never finished, (group cheering) snhu lets you transfer up to 90 credits toward you bachelor's degree. - [woman] it doesn't matter how old you are, you can do it, you can finish. - [spokesman] finish your degree at snhu.edu >>> not a good day for juul. now facing a potential subpoena from a house panel joining us with the latest. >> carl, new this morning congress is threatening to support juul on the grounds that th

taylor and nelson peltz on thursday for delivering alpha this is the outlier now.ot like -- this is now the outlioutlier >> it is the outlier do you ever eat tats cookies did you ever notice the circumference of a tate tate's i based on before. >> they want to do -- reduce calories. >> yeah. >> not reduce -- >> i didn't count any more of them i happen to like eating a cookie. >> it is about trying to keep your waistline down. >> well done, mondelez we're still buying them. i took one out, this is the size of an oreo what happened to this cookie >> remember kathleen. >> i told her i had -- i got nowhere. i was at my reunion, i had an incredible crush on you in seventh grade, she said, no kidding. >> i have no idea what you're talking about. >> this tate's, when they started, they were like this they were like this. >> private equity, little smaller. >> and then, and then, and now they're, like, yeah, i was agreeing with you, like oreos, the size of oreos. >> well done, mondelez. >> it is a great success story speaking of food, guys, really quick, chipotle, introduci

after that there is a whole panel focused on tech investing, another with activism with nelson peltzn cooper man and joe's much anticipated fire side chat with v-potus mike pence other notable speakers apollo co-founder josh harris. guys, cnbc will be bringing live updates on these news makers and more throughout the day. >> what questions are you hoping to kind of get answered out of this today >> i think there are a lot of questions about yesterday's meeting with regard to the fed, you know, what do people expect in terms of monetary policy moving forward will we see more interest rate cuts or is it kind of going to take a pause i think these investors today will be primed to answer those questions. >> leslie, thank you very much leslie picker. >>> folks, it is time. delivering alpha is kicking off right here in new york city. first up is our very own andrew ross sorkin in a sit-down interview with sec chairman jay clayton. they will be taking stage ina moment talking about regulation, big tech and everything in between. we will bring you that live in stk ou 3send icarnd about inve

other speakers include david tailor and nelson peltz who just two years ago battled one another in oneary erdos overzing a trillion dollars in assets ms. beschloss will talk about how to do well by investing well it will continue throughout the day. >> thank you got to prepare for everything, i guess. >> get ready here we go. >> 24 hours. >> let's get back to our guest host this morning, ken langone, co-founder of invamed associates and home depot i'm told that ge is on your mind >> absolutely. >> it is >> i think larry kulp is doing a hell of a job. i think what's left has got good futures, aircraft engines, medical. i think you've got finally some strong governance there on the board. i'm very impressed with the board and i there is real great value here the tragedy, in 2000, g ee had $106 billion market cap. today, ge's market cap is one third of what home depot's is. ge's is 80 billion -- >> you're 250. >> the destruction of value. i want to really see what the s.e.c. is going to come up with and what went on over there. okay there was a lot of rosycomment made and a lot of encoura

nelson last week, it's pretty clear that this is not done it can go higher still. >> the thesis that the giants couldn't innovate their way out of a paper bag was -- >> i know. >> although maybe peltzell, i think he would say they had a lot of good things in place. no slight to union labor, but they have become the big growth engine. >> how about tonight >> i've got taylor morrison on tonight. the conference call, housing punches. housing is not needed with china, so it's just terrific sheryl is a fantastic spokesperson for the industry. some said jim, you care too much about juul i care about 250,000 who die from lung cancer >> one of the biggest stories in business as you say on twitter a few moments ago. we'll see you tonight. "mad money" 6:00 p.m. eastern. when we come back, what a morning. will peloton have an ueat pb public debut we'll wait for that first trade with the dow down 28 because they need the massive capacity of 5g with ultra wideband, so more screaming, streaming, posting fans... can experience 5g all at once. this is happening in 13 stadiums all across the country. now if verizon 5g can do this for the nfl... imagine what it can do for you. liberty mutual customi